CIGNA GROUP, 10-Q filed on 7/31/2025
Quarterly Report
v3.25.2
Cover Page - shares
 6 Months Ended
Jun. 30, 2025
Jul. 25, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Entity File Number 001-38769  
Entity Registrant Name The Cigna Group  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 82-4991898  
Entity Address, Address Line One 900 Cottage Grove Road  
Entity Address, City or Town Bloomfield  
Entity Address, State or Province CT  
Entity Address, Postal Zip Code 06002  
City Area Code 860  
Local Phone Number 226-6000  
Title of 12(b) Security Common Stock, Par Value $0.01  
Trading Symbol CI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   266,928,075
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2025  
Current Fiscal Year End Date --12-31  
Amendment Flag false  
Entity Central Index Key 0001739940  
Document Period End Date Jun. 30, 2025  
v3.25.2
Consolidated Statements of Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Premiums $ 9,156 $ 11,454 $ 21,892 $ 23,057
Net investment income 236 321 474 611
TOTAL REVENUES 67,178 60,523 132,680 117,778
Benefits and expenses        
Pharmacy and other service costs 53,268 44,492 101,666 85,923
Medical costs and other benefit expenses 7,749 9,515 18,247 18,955
Selling, general and administrative expenses 3,433 3,684 7,646 7,389
Amortization of acquired intangible assets 422 420 844 843
TOTAL BENEFITS AND EXPENSES 64,872 58,111 128,403 113,110
Income from operations 2,306 2,412 4,277 4,668
Interest expense and other (337) (375) (699) (697)
Gain (loss) on sale of businesses 0 0 41 (19)
Net investment gains (losses) 52 (48) 50 (1,884)
Income before income taxes 2,021 1,989 3,669 2,068
TOTAL INCOME TAXES 389 360 628 651
Net income 1,632 1,629 3,041 1,417
Less: Net income attributable to noncontrolling interests 100 81 186 146
SHAREHOLDERS' NET INCOME $ 1,532 $ 1,548 $ 2,855 $ 1,271
Shareholders' net income per share        
Basic (in dollars per share) $ 5.76 $ 5.51 $ 10.63 $ 4.48
Diluted (in dollars per share) $ 5.71 $ 5.45 $ 10.55 $ 4.43
Pharmacy revenues        
Revenues        
Revenue from contract with customer $ 53,649 $ 45,101 $ 102,282 $ 87,137
Fees and other revenues        
Revenues        
Revenue from contract with customer $ 4,137 $ 3,647 $ 8,032 $ 6,973
v3.25.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 1,632 $ 1,629 $ 3,041 $ 1,417
Other comprehensive income (loss), net of tax        
Net unrealized appreciation on securities and derivatives 321 108 221 229
Net long-duration insurance and contractholder liabilities measurement adjustments (609) (212) (777) (772)
Net translation gains (losses) on foreign currencies 65 (5) 78 (31)
Postretirement benefits liability adjustment (3) (9) 3 (4)
Other comprehensive income (loss) (226) (118) (475) (578)
Total comprehensive income 1,406 1,511 2,566 839
Less: Net income attributable to noncontrolling interests 100 81 186 146
SHAREHOLDERS' COMPREHENSIVE INCOME $ 1,306 $ 1,430 $ 2,380 $ 693
v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 4,329 $ 7,550
Investments 813 665
Accounts receivable, net 31,148 24,227
Inventories 5,967 6,692
Other current assets 2,466 2,732
Assets of businesses held for sale 0 7,004
Total current assets 44,723 48,870
Long-term investments 15,662 15,128
Reinsurance recoverables 4,297 4,378
Property and equipment 3,621 3,654
Goodwill 44,375 44,370
Other intangible assets 28,671 29,417
Other assets 2,929 2,786
Separate account assets 7,373 7,278
TOTAL ASSETS 151,651 155,881
Liabilities    
Current insurance and contractholder liabilities 6,015 5,388
Pharmacy and other service costs payable 29,460 28,465
Accounts payable 9,938 9,294
Accrued expenses and other liabilities 7,078 9,387
Short-term debt 4,288 3,035
Liabilities of businesses held for sale 0 2,410
Total current liabilities 56,779 57,979
Non-current insurance and contractholder liabilities 10,157 10,254
Deferred tax liabilities, net 6,781 6,975
Other non-current liabilities 3,651 3,215
Long-term debt 26,480 28,937
Separate account liabilities 7,373 7,278
TOTAL LIABILITIES 111,221 114,638
Contingencies — Note 16
Shareholders' equity    
Common stock [1] 4 4
Additional paid-in capital 31,588 31,288
Accumulated other comprehensive loss (2,816) (2,341)
Retained earnings 45,564 43,519
Less: Treasury stock, at cost (34,126) (31,437)
TOTAL SHAREHOLDERS' EQUITY 40,214 41,033
Noncontrolling interests 216 210
Total equity 40,430 41,243
Total liabilities and equity $ 151,651 $ 155,881
[1] Par value per share, $0.01; shares issued, 404 million as of June 30, 2025 and 403 million as of December 31, 2024; authorized shares, 600 million.
v3.25.2
Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares issued (in shares) 404,000,000 403,000,000
Common stock, shares authorized (in shares) 600,000,000 600,000,000
v3.25.2
Consolidated Statements of Changes in Total Equity - USD ($)
$ in Millions
Total
Shareholders' Equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss)
Retained Earnings
Treasury Stock
Other Non- controlling Interests
Balance at Dec. 31, 2023 $ 46,244 $ 46,223 $ 4 $ 30,669 $ (1,864) $ 41,652 $ (24,238) $ 21
Changes in Total Equity                
Effect of issuing stock for employee benefit plans 264 264   379     (115)  
Other comprehensive income (loss) (578) (578)     (578)      
Net income 1,417 1,271       1,271   146
Common dividends declared (791) (791)       (791)    
Repurchase of common stock (5,057) (5,057)   0     (5,057)  
Other transactions impacting noncontrolling interests 28 0   0       28
Balance at Jun. 30, 2024 41,527 41,332 4 31,048 (2,442) 42,132 (29,410) 195
Balance at Dec. 31, 2023 107              
Change in Redeemable Noncontrolling Interests                
Other comprehensive loss 0              
Net income 0              
Other transactions impacting noncontrolling interests (107)              
Balance at Jun. 30, 2024 0              
Balance at Mar. 31, 2024 41,350 41,181 4 30,292 (2,324) 40,978 (27,769) 169
Changes in Total Equity                
Effect of issuing stock for employee benefit plans 115 115   116     (1)  
Other comprehensive income (loss) (118) (118)     (118)      
Net income 1,629 1,548       1,548   81
Common dividends declared (394) (394)       (394)    
Repurchase of common stock (1,000) (1,000)   640     (1,640)  
Other transactions impacting noncontrolling interests (55) 0   0       (55)
Balance at Jun. 30, 2024 41,527 41,332 4 31,048 (2,442) 42,132 (29,410) 195
Balance at Mar. 31, 2024 0              
Change in Redeemable Noncontrolling Interests                
Other comprehensive loss 0              
Net income 0              
Other transactions impacting noncontrolling interests 0              
Balance at Jun. 30, 2024 0              
Balance at Dec. 31, 2024 41,243 41,033 4 31,288 (2,341) 43,519 (31,437) 210
Changes in Total Equity                
Effect of issuing stock for employee benefit plans 192 192   300     (108)  
Other comprehensive income (loss) (475) (475)     (475)      
Net income 3,041 2,855       2,855   186
Common dividends declared (810) (810)       (810)    
Repurchase of common stock (2,581) (2,581)   0     (2,581)  
Other transactions impacting noncontrolling interests (180) 0   0       (180)
Balance at Jun. 30, 2025 40,430 40,214 4 31,588 (2,816) 45,564 (34,126) 216
Balance at Dec. 31, 2024 0              
Change in Redeemable Noncontrolling Interests                
Other comprehensive loss 0              
Net income 0              
Other transactions impacting noncontrolling interests 0              
Balance at Jun. 30, 2025 0              
Balance at Mar. 31, 2025 40,414 40,226 4 31,443 (2,590) 44,434 (33,065) 188
Changes in Total Equity                
Effect of issuing stock for employee benefit plans 144 144   145     (1)  
Other comprehensive income (loss) (226) (226)     (226)      
Net income 1,632 1,532       1,532   100
Common dividends declared (402) (402)       (402)    
Repurchase of common stock (1,060) (1,060)   0     (1,060)  
Other transactions impacting noncontrolling interests (72) 0   0       (72)
Balance at Jun. 30, 2025 40,430 $ 40,214 $ 4 $ 31,588 $ (2,816) $ 45,564 $ (34,126) $ 216
Balance at Mar. 31, 2025 0              
Change in Redeemable Noncontrolling Interests                
Other comprehensive loss 0              
Net income 0              
Other transactions impacting noncontrolling interests 0              
Balance at Jun. 30, 2025 $ 0              
v3.25.2
Consolidated Statements of Changes in Total Equity (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Statement of Stockholders' Equity [Abstract]        
Common dividends declared (in dollars per share) $ 1.51 $ 1.40 $ 3.02 $ 2.80
v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net income $ 3,041 $ 1,417
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,356 1,479
Investment (gains) losses, net (50) 1,884
Deferred income tax benefit (292) (199)
(Gain) loss on sale of businesses (41) 19
Net changes in assets and liabilities, net of non-operating effects:    
Accounts receivable, net (6,398) (7,313)
Inventories 726 472
Reinsurance recoverable and Other assets (402) (559)
Insurance liabilities 1,702 (125)
Pharmacy and other service costs payable 995 7,820
Accounts payable and Accrued expenses and other liabilities (1,020) (15)
Other, net 417 225
NET CASH PROVIDED BY OPERATING ACTIVITIES 34 5,105
Proceeds from investments sold:    
Debt securities and equity securities 272 393
Investment maturities and repayments:    
Debt securities and equity securities 553 414
Commercial mortgage loans 90 37
Other sales, maturities and repayments (primarily short-term and other long-term investments) 431 451
Investments purchased or originated:    
Debt securities and equity securities (1,512) (493)
Commercial mortgage loans (62) (52)
Other (primarily short-term and other long-term investments) (761) (865)
Property and equipment purchases, net (612) (670)
Divestitures, net of cash sold 2,346 0
Renewable energy tax credit equity investments (327) (335)
Other, net (18) (15)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 400 (1,135)
Cash Flows from Financing Activities    
Deposits and interest credited to contractholder deposit funds 74 84
Withdrawals and benefit payments from contractholder deposit funds (137) (135)
Net change in short-term debt 296 (467)
Repayment of long-term debt (1,600) (3,000)
Net proceeds on issuance of long-term debt 0 4,462
Repurchase of common stock (2,620) (5,012)
Issuance of common stock 141 221
Common stock dividend paid (813) (793)
Other, net (355) (198)
NET CASH USED IN FINANCING ACTIVITIES (5,014) (4,838)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash 35 (12)
Net decrease in cash, cash equivalents and restricted cash (4,545) (880)
Cash, cash equivalents and restricted cash January 1, including held for sale assets [1] 8,931 8,337
Cash, cash equivalents and restricted cash December 31, including held for sale assets [1] 4,386 7,457
Cash and cash equivalents reclassified to assets of businesses held for sale 0 (625)
Cash, cash equivalents and restricted cash and cash equivalents December 31, [1] 4,386 6,832
Supplemental Disclosure of Cash Information:    
Income taxes paid, net of refunds 350 567
Interest paid $ 680 $ 643
[1] Restricted cash and cash equivalents were reported in other long-term investments.
v3.25.2
Description of Business
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business
Note 1 – Description of Business
The Cigna Group®, together with its subsidiaries (either individually or collectively referred to as the "Company," "we," "us" or "our"), is a global health company committed to creating a better future for every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. Powered by our people and our brands, we advance our mission to improve the health and vitality of those we serve.

Our subsidiaries offer a differentiated set of pharmacy, medical, behavioral, dental, and related products and services. The majority of these products and services are offered through employers and other entities, such as governmental and nongovernmental organizations, unions and associations. Cigna Healthcare® also offers health and dental insurance products to individuals in the United States and select international markets. In addition to these operations, The Cigna Group also has certain run-off operations.

A full description of our segments follows:
The Evernorth® Health Services reportable segment includes the Pharmacy Benefit Services and the Specialty and Care Services operating segments, which provide independent and coordinated health solutions and capabilities to enable the health care system to work better and help people live healthier lives.

Pharmacy Benefit Services drives high-quality, cost-effective pharmacy care through various services, such as drug claim adjudication, retail pharmacy network administration, benefit design consultation, drug utilization review, drug formulary management and access to our home delivery pharmacy. Specialty and Care Services provides specialty drugs for the treatment of complex and rare diseases, specialty distribution of pharmaceuticals and medical supplies, as well as clinical programs to help our clients drive better whole-person health outcomes through care services.

The Cigna Healthcare reportable segment includes the U.S. Healthcare and International Health operating segments, which provide comprehensive medical and coordinated solutions to clients and customers. U.S. Healthcare provides medical plans and other benefits and solutions for insured and self-insured clients as well as individual health plans. International Health provides health care solutions in our international markets, as well as health care benefits for globally mobile individuals and employees of multinational organizations. U.S. Healthcare also included the Medicare Advantage and related businesses until the divestiture of such businesses to Health Care Services Corporation ("HCSC") on March 19, 2025 (see Note 5 to the Consolidated Financial Statements for further information).
Other Operations comprises the remainder of our business operations, which includes certain continuing (corporate-owned life insurance ("COLI")), run-off and other non-strategic businesses. Our run-off businesses include the (i) variable annuity reinsurance business that was effectively exited through reinsurance with Berkshire Hathaway Life Insurance Company of Nebraska ("Berkshire") in 2013, (ii) settlement annuity business, and (iii) individual life insurance and annuity and retirement benefits businesses, which were sold through reinsurance agreements.
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.
v3.25.2
Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note 2 – Summary of Significant Accounting Policies
Basis of Presentation
The Consolidated Financial Statements include the accounts of The Cigna Group and its consolidated subsidiaries. Intercompany transactions and accounts have been eliminated in consolidation. These Consolidated Financial Statements were prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). Certain amounts in the Consolidated Statements of Cash Flows have been reclassified to conform to current year presentation and did not have a significant impact on our Consolidated Financial Statements.

Amounts recorded in the Consolidated Financial Statements necessarily reflect management's estimates and assumptions about medical costs, investment, tax and receivable valuations, interest rates, and other factors. Significant estimates are discussed throughout these Notes; however, actual results could differ from those estimates. The impact of a change in estimate is generally included in earnings in the period of adjustment.
These interim Consolidated Financial Statements are unaudited but include all adjustments (including normal recurring adjustments) necessary, in the opinion of management, for a fair statement of financial position and results of operations for the periods reported.
The interim Consolidated Financial Statements and Notes should be read in conjunction with the Consolidated Financial Statements and Notes included in the 2024 Annual Report on Form 10-K ("2024 Form 10-K"). The Company has not included certain footnote disclosures that would substantially duplicate the disclosures contained in its 2024 Form 10-K, unless the information in those disclosures materially changed or is required by GAAP. The preparation of interim Consolidated Financial Statements necessarily relies heavily on estimates. This and other factors, including the seasonal nature of portions of the health care and related benefits business, as well as competitive and other market conditions, call for caution in estimating full-year results based on interim results of operations.
Recent Accounting Pronouncements
The Company's 2024 Form 10-K includes discussion of significant recent accounting pronouncements that either have impacted or may impact our financial statements in the future. There are no updates on significant accounting pronouncements recently adopted or recently issued and not yet adopted that have occurred since the Company filed its 2024 Form 10-K.
v3.25.2
Accounts Receivable, Net
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Accounts Receivable, Net
Note 3 – Accounts Receivable, Net
The following amounts were included within Accounts receivable, net:
(In millions)June 30, 2025December 31, 2024
Noninsurance customer receivables$14,690 $11,879 
Pharmaceutical manufacturers receivables14,094 10,914 
Insurance customer receivables1,606 3,199 
Other receivables758 162 
Total$26,154 
Accounts receivable, net classified as assets of businesses held for sale
(1,927)
Total$31,148 $24,227 
These accounts receivable are reported net of our allowances of $6.9 billion and $5.0 billion as of June 30, 2025 and December 31, 2024, respectively. These allowances include contractual allowances for certain rebates receivable with pharmaceutical manufacturers and certain accounts receivable from third-party payors, discounts and claims adjustments issued to customers in the form of client credits, an allowance for current expected credit losses, and other non-credit adjustments.
The Company's allowance for current expected credit losses was $388 million as of June 30, 2025 and $84 million as of December 31, 2024.
Accounts Receivable Factoring Facility
The Company maintains an uncommitted factoring facility (the "Facility") with a total capacity of $1.5 billion under which certain accounts receivable may be sold on a non-recourse basis to a financial institution. The Facility began in July 2023 with an initial term of two years, followed by automatic one-year renewal terms unless terminated by either party.
We sold manufacturer accounts receivable under the Facility of $1.3 billion for both the three months ended June 30, 2025 and 2024 and $2.7 billion and $3.2 billion for the six months ended June 30, 2025 and 2024, respectively. For the three and six months ended June 30, 2025 and 2024, factoring fees paid were not material. As of June 30, 2025, there were $1.0 billion of sold accounts receivable that have not been collected from manufacturers and have been removed from the Company's Consolidated Balance Sheets. As of December 31, 2024, all sold accounts receivable had been collected from manufacturers. As of June 30, 2025 and December 31, 2024, there were $297 million and $1.0 billion, respectively, of collections from manufacturers that have not been remitted to the financial institution. Such amounts are recorded within Accrued expenses and other liabilities in the Consolidated Balance Sheets.
v3.25.2
Supplier Finance Program
 6 Months Ended
Jun. 30, 2025
Payables and Accruals [Abstract]  
Supplier Finance Program
Note 4 – Supplier Finance Program
The Company facilitates a voluntary supplier finance program (the "Program") that provides suppliers the opportunity to sell their accounts receivable due from us (i.e., our payment obligations to the suppliers) to a financial institution, on a non-recourse basis, in order to be paid earlier than our payment terms require.
As of June 30, 2025 and December 31, 2024, $1.7 billion and $1.6 billion, respectively, of the Company's outstanding payment obligations were confirmed as valid within the Program by the financial institution and are reflected in Accounts payable in the Consolidated Balance Sheets. The amounts confirmed as valid for both periods are predominately associated with one supplier.
As of June 30, 2025, we have been informed by the financial institution that $763 million of the Company's outstanding payment obligations were voluntarily elected by suppliers to be sold to the financial institution under the Program.
v3.25.2
Divestiture
 6 Months Ended
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Divestiture
Note 5 – Divestiture
On March 19, 2025, the Company completed the sale of our Medicare Advantage, Medicare Individual Stand-Alone Prescription Drug Plans, Medicare and Other Supplemental Benefits, and CareAllies® businesses (the "Disposal Group" or the "HCSC transaction"). The purchase price increased from $3.3 billion to $4.8 billion, subject to post-closing contractual adjustments, reflecting higher statutory surplus for the legal entities when conveyed to HCSC.
The Company recognized a gain of $37 million pre-tax ($112 million after-tax) during the three months ended March 31, 2025 within Gain (loss) on sale of businesses in the Consolidated Statements of Income. The Company received $4.2 billion cash proceeds at closing. We expect receipt of the remaining $0.6 billion in the fourth quarter of 2025 upon HCSC's collection of amounts due from the Centers for Medicare and Medicaid Services ("CMS").
The Company determined that the Disposal Group met the criteria to be classified as held for sale and aggregated and classified the assets and liabilities as held for sale in our Consolidated Balance Sheets as of December 31, 2024. The assets and liabilities held for sale as of December 31, 2024 were as follows:

(In millions)December 31, 2024
Cash and cash equivalents$1,339 
Investments1,444 
Accounts receivable, net1,927 
Other assets, including Goodwill (1)
2,294 
Total assets of businesses held for sale7,004 
Insurance and contractholder liabilities1,579 
All other liabilities831 
Total liabilities of businesses held for sale$2,410 
(1) Includes Goodwill of $94 million.
Integration and Transaction-Related Costs
In 2025 and 2024, the Company incurred transaction-related costs associated with the HCSC transaction. These costs incurred consisted primarily of certain projects to separate the Company's systems, products and services; fees for legal, advisory and other professional services; and certain employment-related costs. These costs were $74 million pre-tax ($56 million after-tax) for the three months ended and $290 million pre-tax ($220 million after-tax) for the six months ended June 30, 2025, compared with $63 million pre-tax ($47 million after-tax) for the three months ended and $100 million pre-tax ($76 million after-tax) for the six months ended June 30, 2024.
v3.25.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
Note 6 – Earnings Per Share
Basic and diluted earnings per share were computed as follows:
Three Months Ended
June 30, 2025June 30, 2024
(Shares in thousands, dollars in millions, except per share amounts)BasicEffect of
Dilution		DilutedBasicEffect of
Dilution		Diluted
Shareholders' net income$1,532 $1,532 $1,548 $1,548 
Shares:
Weighted average266,181 266,181 281,133 281,133 
Common stock equivalents1,973 1,973 2,919 2,919 
Total shares266,181 1,973 268,154 281,133 2,919 284,052 
Earnings per share$5.76 $(0.05)$5.71 $5.51 $(0.06)$5.45 
Six Months Ended
June 30, 2025June 30, 2024
(Shares in thousands, dollars in millions, except per share amounts)BasicEffect of
Dilution		DilutedBasicEffect of
Dilution		Diluted
Shareholders' net income
$2,855 $2,855 $1,271 $1,271 
Shares:
Weighted average268,511 268,511 283,799 283,799 
Common stock equivalents2,029 2,029 3,085 3,085 
Total shares268,511 2,029 270,540 283,799 3,085 286,884 
Earnings per share$10.63 $(0.08)$10.55 $4.48 $(0.05)$4.43 
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 June 30,Six Months Ended June 30,
(In millions)2025202420252024
Anti-dilutive options1.5 0.8 1.9 1.2 
The Company held approximately 137.4 million shares of common stock in treasury as of June 30, 2025, 128.7 million shares as of December 31, 2024 and 122.5 million shares as of June 30, 2024.
v3.25.2
Debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt
Note 7 – Debt
Short-Term and Long-Term Debt. During the six months ended June 30, 2025, the Company redeemed at par its $700 million 5.685% senior notes that were due March 2026 and repaid $900 million 3.250% senior notes that matured in April 2025. For more information regarding our short-term and long-term debt, see Note 7 of the Company's 2024 Form 10-K.
Revolving Credit Agreement. Our revolving credit agreement provides us with the ability to borrow amounts for general corporate purposes, including providing liquidity support if necessary under our commercial paper program discussed below. As of June 30, 2025, there was no outstanding balance under this revolving credit agreement.

In April 2025, the Company replaced its previous revolving credit agreements and entered into a $6.5 billion, five-year revolving credit and letter of credit agreement that will mature in April 2030, with an option to extend the maturity date for additional one-year periods, subject to consent of the banks (the "Credit Agreement"). The Company can borrow up to $6.5 billion under the Credit Agreement for general corporate purposes, with up to $500 million available for issuance of letters of credit.

The Credit Agreement includes an option to increase commitments up to $1.5 billion for a maximum total commitment of $8.0 billion. The Credit Agreement allows for borrowings at either a base rate, term Secured Overnight Financing Rate ("SOFR") or daily simple SOFR plus, in each case, an applicable margin based on the Company's senior unsecured credit ratings.

The Credit Agreement also contains customary covenants and restrictions, including a financial covenant that the Company's leverage ratio, as defined in the Credit Agreement, may not exceed 60%, subject to certain exceptions upon the consummation of an acquisition.
Commercial Paper. Under our commercial paper program, we may issue short-term, unsecured commercial paper notes privately placed on a discounted basis through certain broker-dealers at any time not to exceed an aggregate amount of $6.5 billion. Amounts available under the program may be borrowed, repaid and re-borrowed from time to time. The net proceeds of issuances have been and are expected to be used for general corporate purposes. The commercial paper program had approximately $1.2 billion outstanding as of June 30, 2025 and an average interest rate of 4.51%.
Debt Covenants. The Company was in compliance with its debt covenants as of June 30, 2025.
Interest Expense
Interest expense on long-term and short-term debt was $338 million for the three months ended and $700 million for the six months ended June 30, 2025, compared with $378 million for the three months ended and $747 million for the six months ended June 30, 2024.
v3.25.2
Common and Preferred Stock
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Common and Preferred Stock
Note 8 – Common and Preferred Stock
Dividends

The following table provides details of the Company's dividend payments:
Record DatePayment DateAmount per Share
Total Amount Paid (in millions)
2025
March 5, 2025March 20, 2025$1.51$412
June 3, 2025June 18, 2025$1.51$401
2024
March 6, 2024March 21, 2024$1.40$401
June 4, 2024June 20, 2024$1.40$392
On July 22, 2025, the Board of Directors declared the third quarter cash dividend of $1.51 per share of The Cigna Group common stock to be paid on September 18, 2025 to shareholders of record on September 4, 2025. The Company currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors and the Board of Director's determination that the declaration of dividends remains in the best interests of The Cigna Group and its shareholders. The decision of whether to pay future dividends and the amount of any such dividends will be based on the Company's financial position, results of operations, cash flows, capital requirements, the requirements of applicable law and any other factors the Board may deem relevant.
v3.25.2
Insurance and Contractholder Liabilities
 6 Months Ended
Jun. 30, 2025
Insurance Loss Reserves [Abstract]  
Insurance and Contractholder Liabilities Insurance and Contractholder Liabilities
A.Account Balances – Insurance and Contractholder Liabilities
The Company's insurance and contractholder liabilities were comprised of the following:
June 30, 2025December 31, 2024June 30, 2024
(In millions)CurrentNon-currentTotalCurrentNon-currentTotalTotal
Unpaid claims and claim expenses
Cigna Healthcare
$4,577 $59 $4,636 $4,932 $86 $5,018 $5,202 
Other169 186 355 147 144 291 316 
Future policy benefits
Cigna Healthcare
38 154 192 91 507 598 596 
Other Operations147 3,145 3,292 157 3,140 3,297 3,362 
Contractholder deposit funds
Cigna Healthcare
— — — 9 115 124 135 
Other Operations360 5,828 6,188 366 5,958 6,324 6,381 
Market risk benefits27 740 767 25 760 785 865 
Unearned premiums697 45 742 753 31 784 765 
Total6,480 10,741 17,221 17,622
Insurance and contractholder liabilities classified as liabilities of businesses held for sale (1)
(1,092)(487)(1,579)(1,557)
Total insurance and contractholder liabilities$6,015 $10,157 $16,172 $5,388 $10,254 $15,642 $16,065 
(1) Amounts classified as liabilities of businesses held for sale include $983 million of Unpaid claims, $408 million of Future policy benefits, $85 million of Unearned premiums and $103 million of Contractholder deposit funds as of December 31, 2024 and $900 million of Unpaid claims, $417 million of Future policy benefits, $129 million of Unearned premiums and $111 million of Contractholder deposit funds as of June 30, 2024.

Insurance and contractholder liabilities expected to be paid within one year are classified as current.
Unpaid Claims and Claim Expenses – Cigna Healthcare
This liability reflects estimates of the ultimate cost of claims that have been incurred but not reported, expected development on reported claims, claims that have been reported but not yet paid (reported claims in process), and other medical care expenses and services payable that are primarily comprised of accruals for incentives and other amounts payable to health care professionals and facilities.
The total of incurred but not reported liabilities plus expected development on reported claims and reported claims in process was $4.5 billion as of June 30, 2025 and $4.8 billion as of June 30, 2024. The decrease was driven by the HCSC transaction, partially offset by the change in stop loss reserves.
Activity, net of intercompany transactions, in the unpaid claims liability for the Cigna Healthcare segment was as follows:
Six Months Ended June 30,
(In millions)
2025 (1)
2024 (1)
Beginning balance$5,018 $5,092 
Less: Reinsurance and other amounts recoverable159 236 
Beginning balance, net4,859 4,856 
Incurred costs related to:
Current year18,163 18,821 
Prior years(297)(284)
Total incurred17,866 18,537 
Paid costs related to:
Current year13,019 14,397 
Prior years3,889 3,960 
Total paid16,908 18,357 
Less: Divestiture and other1,323 — 
Ending balance, net4,494 5,036 
Add: Reinsurance and other amounts recoverable142 166 
Ending balance$4,636 $5,202 
(1) Includes unpaid claims amounts classified as liabilities of businesses held for sale prior to the completion of the HCSC transaction. As of December 31, 2024, June 30, 2024 and December 31, 2023, includes $983 million, $900 million and $823 million classified as liabilities of businesses held for sale, respectively.
Reinsurance and other amounts recoverable reflect amounts due from reinsurers and policyholders to cover incurred but not reported and pending claims of certain business for which the Company administers the plan benefits without any right of offset. See Note 10 to the Consolidated Financial Statements for additional information on reinsurance.
Variances in incurred costs related to prior years' unpaid claims and claim expenses that resulted from the differences between actual experience and the Company's key assumptions were as follows:
Six Months Ended June 30,
20252024
(Dollars in millions)$
% (1)
$
% (2)
Actual completion factors and other
$170 0.5 %$83 0.2 %
Medical cost trend127 0.3 201 0.6 
Total favorable variance$297 0.8 %$284 0.8 %
(1)Percentage of current year incurred costs as reported for the year ended December 31, 2024.
(2)Percentage of current year incurred costs as reported for the year ended December 31, 2023.

Favorable prior year development in both years primarily reflects lower than expected utilization of medical services as compared to our assumptions.
Future Policy Benefits
Cigna Healthcare

Future policy benefits for the Cigna Healthcare segment were primarily related to the businesses divested to HCSC on March 19, 2025. Excluding the divestiture, changes in the future policy benefits for the six months ended June 30, 2025 and June 30, 2024 were not material.
Other Operations
The weighted average interest rates applied and duration for future policy benefits in Other Operations, consisting of annuity and life insurance products, were as follows:
As of
June 30, 2025June 30, 2024
Interest accretion rate 5.64 %5.64 %
Current discount rate 5.27 %5.38 %
Weighted average duration 10.6 years11.2 years

Obligations for annuities represent discounted periodic benefits to be paid to an individual or groups of individuals over their remaining lives. Other Operations' traditional insurance contracts, which are in run-off, have no premium remaining to be collected; therefore, future policy benefit reserves represent the present value of expected future policy benefits, discounted using the current discount rate, and the remaining amortizable deferred profit liability.
Future policy benefits for Other Operations include deferred profit liability of $353 million as of June 30, 2025 and $372 million as of June 30, 2024. Future policy benefits excluding deferred profit liability were $2.9 billion as of both June 30, 2025 and December 31, 2024, $3.0 billion as of June 30, 2024, and $3.2 billion as of December 31, 2023. Undiscounted expected future policy benefits were $4.2 billion as of June 30, 2025 and $4.4 billion as of June 30, 2024. As of both June 30, 2025 and June 30, 2024, $0.9 billion of the future policy benefit reserve was recoverable through treaties with external reinsurers.
Contractholder Deposit Funds
Contractholder deposit fund liabilities within Other Operations were $6.2 billion as of June 30, 2025, $6.3 billion as of December 31, 2024, $6.4 billion as of June 30, 2024 and $6.5 billion as of December 31, 2023. Approximately 38% of the balance is reinsured externally. Activity in these liabilities is presented net of reinsurance in the Consolidated Statements of Cash Flows. Changes in contractholder deposit fund liabilities generally relates to withdrawals and benefit payments, partially offset by deposits and interest credited.
As of June 30, 2025, the weighted average crediting rate, net amount at risk and cash surrender value for contractholder deposit fund liabilities not effectively exited through reinsurance were 3.22%, $2.7 billion and $2.8 billion, respectively. The comparative amounts as of June 30, 2024 were 3.25%, $2.9 billion and $2.8 billion, respectively. More than 99% of the $3.9 billion liability as of June 30, 2025 and the $4.0 billion liability as of June 30, 2024 not reinsured externally is for contracts with guaranteed interest rates of 3% - 4%, and approximately $1.2 billion and $1.1 billion, respectively, represented contracts with policies at the guarantee. At these same period ends, $1.1 billion and $1.2 billion was 50 - 150 basis points ("bps") above the guarantee, and the remaining $1.6 billion as of June 30, 2025 and $1.7 billion as of June 30, 2024 represented contracts above the guarantee that pay the policyholder based on the greater of a guaranteed minimum cash value or the actual cash value. As of both June 30, 2025 and June 30, 2024, more than 90% of these contracts have actual cash values of at least 110% of the guaranteed cash value.
Market Risk Benefits
Liabilities for market risk benefits ("MRBs") consist of variable annuity reinsurance contracts in Other Operations. These liabilities arise under annuities and riders to annuities written by ceding companies that guarantee the benefit received at death and, for a subset of policies, also provide contractholders the option, within 30 days of a policy anniversary after the appropriate waiting period, to elect minimum income payments. The Company's capital market risk exposure on variable annuity reinsurance contracts arises when the reinsured guaranteed minimum benefit exceeds the contractholder's account value in the related underlying mutual funds at the time the insurance benefit is payable under the respective contract. The Company receives and pays premium periodically based on the terms of the reinsurance agreements.
Market risk benefits activity was as follows:
Six Months Ended June 30,
(In millions)20252024
Balance, beginning of year$785 $1,003 
Balance, beginning of year, before the effect of nonperformance risk (own credit risk)838 1,085 
Changes due to expected run-off(11)(6)
Changes due to capital markets versus expected(7)(133)
Changes due to policyholder behavior versus expected3 (17)
Balance, end of period, before the effect of changes in nonperformance risk (own credit risk)823 929 
Nonperformance risk (own credit risk), end of period(56)(64)
Balance, end of period$767 $865 
Reinsured market risk benefit, end of period$822 $927 
The following table presents the net amount at risk and the average attained age of contractholders (weighted by exposure) for contracts assumed by the Company. The net amount at risk is the amount the Company would have to pay to contractholders if all deaths or annuitizations occurred as of the earliest possible date in accordance with the insurance contract. The Company should be reimbursed in full for these payments unless the Berkshire reinsurance limit is exceeded, as discussed further in Note 10 to the Consolidated Financial Statements.
(Dollars in millions, excludes impact of reinsurance ceded)June 30, 2025June 30, 2024
Net amount at risk$1,236 $1,391 
Average attained age of contractholders (weighted by exposure)78.0 years77.8 years
v3.25.2
Reinsurance
 6 Months Ended
Jun. 30, 2025
Reinsurance Disclosures [Abstract]  
Reinsurance
Note 10 – Reinsurance
The Company's insurance subsidiaries enter into agreements with other insurance companies to limit losses from large exposures and to permit recovery of a portion of incurred losses. Reinsurance is ceded primarily in acquisition and disposition transactions when the underwriting company is not being acquired. Reinsurance does not relieve the originating insurer of liability. Therefore, reinsured liabilities must continue to be reported along with the related reinsurance recoverables. The Company regularly evaluates the financial condition of its reinsurers and monitors concentrations of its credit risk.
The majority of the Company's reinsurance recoverables resulted from acquisition and disposition transactions in which the underwriting company was not acquired. The Company bears the risk of loss if its reinsurers and retrocessionaires do not meet or are unable to meet their reinsurance obligations to the Company. The Company reviews its reinsurance arrangements and establishes reserves against the recoverables primarily for expected credit losses.
The Company's reinsurance recoverables as of June 30, 2025 are presented at amount due by range of external credit rating and collateral level in the following table, with reinsurance recoverables that are market risk benefits separately presented at fair value:
(In millions)
Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable
Collateral Provisions Exist That May Mitigate Risk of Credit Loss (1)
No CollateralTotal
Ongoing operations
A- equivalent and higher current ratings (2)
$— $6 $202 $208 
BBB- to BBB+ equivalent current credit ratings (2)
— — 65 65 
Not rated90 5 3 98 
Acquisition, disposition or run-off activities
BBB+ equivalent and higher current ratings (2)(3)
297 2,771 201 3,269 
Not rated— 6 1 7 
Total reinsurance recoverables before market risk benefits$387 $2,788 $472 $3,647 
Allowance for uncollectible reinsurance(30)
Market risk benefits822 
Total reinsurance recoverables (4)
$4,439 
(1)Includes collateral provisions requiring the reinsurer to fully collateralize its obligation if its external credit rating is downgraded to a specified level.
(2)Certified by a nationally recognized statistical ratings organization ("NRSRO").
(3)Comprised of six reinsurers, of which 75% is held by two reinsurers, Lincoln National Life Insurance Company and Lincoln Life and Annuity Company of New York.
(4)Includes $142 million of current reinsurance recoverables that are reported in Other current assets.
The Company entered into an agreement with Berkshire to effectively exit the variable annuity reinsurance business via a reinsurance transaction in 2013. Variable annuity contracts are accounted for as assumed and ceded reinsurance and categorized as market risk benefits as discussed in Note 9 to the Consolidated Financial Statements. Berkshire reinsured 100% of the Company's future cash flows in this business, net of other reinsurance arrangements existing at that time. The reinsurance agreement is subject to an overall limit, with approximately $3.0 billion remaining as of June 30, 2025. As a result of the reinsurance transaction, amounts payable are offset by a corresponding reinsurance recoverable, provided the increased recoverable remains within the overall Berkshire limit. As of both June 30, 2025 and 2024, market risk benefits (shown in the table net of nonperformance risk as of June 30, 2025) were predominantly reinsured by Berkshire, which is rated AA+ by an NRSRO. As of June 30, 2025, approximately 100% of the Berkshire recoverable is secured by assets in a trust.
v3.25.2
Investments
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Investments
Note 11 – Investments
The following table summarizes the Company's investments by category and current or long-term classification:
June 30, 2025December 31, 2024
(In millions)CurrentLong-TermTotalCurrentLong-TermTotal
Debt securities$443 $7,946 $8,389 $463 $8,960 $9,423 
Equity securities15 561 576 7 554 561 
Commercial mortgage loans105 1,206 1,311 108 1,243 1,351 
Policy loans— 1,117 1,117 — 1,156 1,156 
Other long-term investments— 4,832 4,832 — 4,576 4,576 
Short-term investments250 — 250 170 — 170 
Total$748 $16,489 $17,237 
Investments classified as assets of businesses held for sale (1)
(83)(1,361)(1,444)
Investments per Consolidated Balance Sheets$813 $15,662 $16,475 $665 $15,128 $15,793 
(1) Investments related to the HCSC transaction that were held for sale as of December 31, 2024. These investments were primarily comprised of debt securities.
Investment Portfolio
Debt Securities
The amortized cost and fair value by contractual maturity periods for debt securities were as follows as of June 30, 2025:
(In millions)Amortized
Cost		Fair
Value
Due in one year or less$620 $543 
Due after one year through five years3,587 3,556 
Due after five years through ten years2,280 2,203 
Due after ten years2,033 1,838 
Mortgage and other asset-backed securities277 249 
Total$8,797 $8,389 
Actual maturities of these securities could differ from their contractual maturities used in the table above because issuers may have the right to call or prepay obligations, with or without penalties.
Gross unrealized appreciation (depreciation) on debt securities by type of issuer is shown below:
(In millions)Amortized
Cost		Allowance for Credit LossUnrealized
Appreciation		Unrealized
Depreciation		Fair
Value
June 30, 2025
Federal government and agency$212 $— $16 $(4)$224 
State and local government24 — — — 24 
Foreign government399 — 10 (8)401 
Corporate7,885 (124)145 (415)7,491 
Mortgage and other asset-backed277 — 1 (29)249 
Total$8,797 $(124)$172 $(456)$8,389 
December 31, 2024
Federal government and agency$276 $— $14 $(9)$281 
State and local government37 — 1 (1)37 
Foreign government350 — 5 (11)344 
Corporate9,091 (111)102 (659)8,423 
Mortgage and other asset-backed371 — 1 (34)338 
Total$10,125 $(111)$123 $(714)$9,423 
Review of Declines in Fair Value. Management reviews debt securities in an unrealized loss position to determine whether a credit loss allowance is needed based on criteria that include severity of decline; financial health and specific prospects of the issuer; and changes in the regulatory, economic or general market environment of the issuer's industry or geographic region.
The table below summarizes debt securities with a decline in fair value from amortized cost for which an allowance for credit losses has not been recorded (by investment grade and the length of time these securities have been in an unrealized loss position). Unrealized depreciation on these debt securities is primarily due to declines in fair value resulting from increasing interest rates since these securities were purchased.
June 30, 2025December 31, 2024
(Dollars in millions)Fair
Value		Amortized
Cost		Unrealized
Depreciation		Number
of Issues		Fair
Value		Amortized
Cost		Unrealized
Depreciation		Number
of Issues
One year or less
Investment grade$452 $456 $(4)187$1,203 $1,227 $(24)545 
Below investment grade74 78 (4)308245 250 (5)739 
More than one year
Investment grade3,505 3,924 (419)9844,687 5,319 (632)1,297 
Below investment grade219 248 (29)81416 469 (53)123 
Total$4,250 $4,706 $(456)1,560 $6,551 $7,265 $(714)2,704 
Equity Securities
The following table provides the values of the Company's equity security investments:
June 30, 2025 December 31, 2024
(In millions) CostCarrying Value CostCarrying Value
Equity securities with readily determinable fair values$639 $118 $635 $37 
Equity securities with no readily determinable fair value3,218 458 3,215 524 
Total$3,857 $576 $3,850 $561 
Commercial Mortgage Loans
Mortgage loans held by the Company are made exclusively to commercial borrowers and are diversified by property type, location and borrower. Loans are generally issued at fixed rates of interest and are secured by high-quality, primarily completed and substantially leased operating properties.
The Company regularly evaluates and monitors credit risk from the initial mortgage loan underwriting and throughout the investment holding period. The annual portfolio review performed in the second quarter of 2025 confirmed ongoing strong overall credit quality in line with the previous year's results. For more information on the Company's accounting policies and methodologies regarding these investments, see Note 11 in the Company's 2024 Form 10-K.
The following table summarizes the credit risk profile of the Company's commercial mortgage loan portfolio:

(Dollars in millions)June 30, 2025December 31, 2024
Loan-to-Value RatioCarrying ValueAverage Debt Service Coverage RatioAverage Loan-to-Value RatioCarrying ValueAverage Debt Service Coverage RatioAverage Loan-to-Value Ratio
Below 60%$422 2.02$547 2.07
60% to 79%704 1.77595 1.83
80% to 100%185 0.83209 0.51
Total$1,311 1.6970 %$1,351 1.7069 %
Other Long-Term Investments
Other long-term investments include investments in unconsolidated entities, including certain limited partnerships and limited liability companies holding real estate, securities or loans. These investments are carried at cost plus the Company's ownership percentage of reporting income or loss, based on the financial statements of the underlying investments that are generally reported at fair value. Income or loss from these investments is reported on a one-quarter lag due to the timing of when financial information is received from the general partner or manager of the investments.
Other long-term investments also include investment real estate carried at depreciated cost less any impairment write-downs to fair value when cash flow estimates indicate that the carrying value may not be recoverable. Additionally, statutory and other restricted deposits and foreign currency swaps carried at fair value are reported in the table below as Other. The following table provides the carrying value information for these investments:
Carrying Value as of
(In millions)June 30, 2025December 31, 2024
Real estate investments$1,866 $1,763 
Securities partnerships2,781 2,587 
Other185 226 
Total$4,832 $4,576 
Derivative Financial Instruments
The Company uses derivative financial instruments to manage the characteristics of investment assets (such as duration, yield, currency and liquidity) to meet the varying demands of the related insurance and contractholder liabilities. The Company also uses derivative financial instruments to hedge the risk of changes in the net assets of certain of its foreign subsidiaries due to changes in foreign currency exchange rates and to hedge the interest rate risk of certain long-term debt.
As of June 30, 2025, the notional value of interest rate swap contracts decreased to $2.6 billion compared with $2.7 billion as of December 31, 2024. There were no other material changes to the Company's individual derivative hedging strategies during the three and six months ended June 30, 2025. Please refer to the Company's 2024 Form 10-K for further discussion of the types of derivative financial instruments and associated accounting policies. The effects of derivative financial instruments used in our individual hedging strategies were not material to the Consolidated Financial Statements as of June 30, 2025 and December 31, 2024. The gross fair values of our derivative financial instruments are presented in Note 12 to the Consolidated Financial Statements.
Investment Gains and LossesNet investment gains (losses), before income taxes were $52 million and $50 million, respectively, for the three and six months ended June 30, 2025, versus $(48) million and $(1,884) million, respectively, for the three and six months ended June 30, 2024. Net investment results for the three and six months ended June 30, 2025 increased, reflecting investment gains related to a change in fair value of certain equity securities in the second quarter of 2025 and the absence of the impairment of equity securities recorded in the first quarter of 2024. These amounts exclude investment gains and losses attributed to the Company's separate accounts because those gains and losses generally accrue directly to separate account policyholders.
v3.25.2
Fair Value Measurements
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Note 12 – Fair Value Measurements
For a description of the policies, methods and assumptions that are used to estimate fair value and determine the fair value hierarchy for each class of financial instruments, see Note 12 in the Company's 2024 Form 10-K.
Financial Assets and Financial Liabilities Carried at Fair Value
The following table provides information about the Company's financial assets and liabilities carried at fair value. Further information regarding insurance assets and liabilities carried at fair value is provided in Note 9E to the Consolidated Financial Statements. Separate account assets are also recorded at fair value on the Company's Consolidated Balance Sheets and are reported separately in the Separate Accounts section below as gains and losses related to these assets generally accrue directly to contractholders.
(In millions)Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024
Financial assets at fair value
Debt securities
Federal government and agency$105 $165 $119 $116 $— $— $224 $281 
State and local government— — 24 37 — — 24 37 
Foreign government— — 401 344 — — 401 344 
Corporate
— — 7,171 8,049 320 374 7,491 8,423 
Mortgage and other asset-backed— — 209 295 40 43 249 338 
Total debt securities105 165 7,924 8,841 360 417 8,389 9,423 
Equity securities (1)
63 1 53 36 2 — 118 37 
Short-term investments— — 250 170 — — 250 170 
Derivative assets— — 64 168 — — 64 168 
Financial liabilities at fair value
Derivative liabilities$— $— $30 $1 $— $— $30 $1 
(1)Excludes certain equity securities that have no readily determinable fair value.
Level 3 Financial Assets and Financial Liabilities
Certain inputs for instruments classified in Level 3 are unobservable (supported by little or no market activity) and significant to their resulting fair value measurement. Unobservable inputs reflect the Company's best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date. Additionally, as discussed in Note 9E in the Company's 2024 Form 10-K, the Company classifies variable annuity assets and liabilities in Level 3 of the fair value hierarchy.
Quantitative Information about Unobservable Inputs
The significant unobservable input used to value our corporate and government debt securities and mortgage and other asset-backed securities is an adjustment for liquidity. This adjustment is needed to reflect current market conditions and issuer circumstances when there is limited trading activity for the security.

The following table summarizes the fair value and significant unobservable inputs that were developed directly by the Company and used in pricing these debt securities. The range and weighted average basis point amounts for liquidity reflect the Company's best estimates of the unobservable adjustments a market participant would make to calculate these fair values. An increase in liquidity spread adjustments would result in a lower fair value measurement, while a decrease would result in a higher fair value measurement.

Fair Value as ofUnobservable Adjustment Range (Weighted Average by Quantity) as of
(Fair value in millions)June 30,
2025		December 31,
2024
Unobservable Input
June 30, 2025
June 30,
2025		December 31,
2024
Debt securities
Corporate$319 $373 Liquidity
60 - 2020 (360)
bps
60 - 1520 (370)
bps
Mortgage and other asset-backed securities40 43 Liquidity
110 - 660 (370)
bps
100 - 550 (280)
bps
Other debt securities1 1 
Total Level 3 debt securities$360 $417 
Changes in Level 3 Financial Assets and Financial Liabilities Carried at Fair Value
The following table summarizes the changes in financial assets and financial liabilities classified in Level 3. Gains and losses reported in the table may include net changes in fair value that are attributable to both observable and unobservable inputs.
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2025202420252024
Debt and Equity Securities
Beginning balance$373 $422 $417 $447 
Losses included in Shareholders' net income
(4)(40)(14)(61)
Gains (losses) included in Other comprehensive loss
3 (2)10 (5)
Purchases, sales and settlements
Purchases25 11 27 11 
Sales(2)— (2)— 
Settlements(49)(1)(80)(15)
Total purchases, sales and settlements(26)10 (55)(4)
Transfers into / (out of) Level 3
Transfers into Level 331 15 49 31 
Transfers out of Level 3(15)(8)(45)(11)
Total transfers into / (out of) Level 316 7 4 20 
Ending balance$362 $397 $362 $397 
Total losses included in Shareholders' net income attributable to instruments held at the reporting date
$(4)$(41)$(17)$(61)
Change in unrealized gain or (loss) included in Other comprehensive loss for assets held at the end of the reporting period
$4 $(2)$7 $(6)

Total gains and losses included in Shareholders' net income in the tables above are reflected in the Consolidated Statements of Income as Net investment gains (losses) and Net investment income. Gains and losses included in Other comprehensive loss, net of tax, in the
tables above are reflected in Net unrealized appreciation on securities and derivatives in the Consolidated Statements of Comprehensive Income.
Transfers into or out of the Level 3 category occur when unobservable inputs, such as the Company's best estimate of what a market participant would use to determine a current transaction price, become more or less significant to the fair value measurement. Market activity typically decreases during periods of economic uncertainty, and this decrease in activity reduces the availability of market observable data. As a result, the level of unobservable judgment that must be applied to the pricing of certain instruments increases and is typically observed through the widening of liquidity spreads. Transfers between Level 2 and Level 3 during 2025 and 2024 primarily reflected changes in liquidity estimates for certain private placement issuers across several sectors. See discussion under Quantitative Information about Unobservable Inputs above for more information.
Separate Accounts
The investment income and fair value gains and losses of Separate account assets generally accrue directly to the contractholders and, together with their deposits and withdrawals, are excluded from the Company's Consolidated Statements of Income and Cash Flows. The separate account activity for the six months ended June 30, 2025 and 2024 was primarily driven by changes in the market values of the underlying separate account investments.
Fair values of Separate account assets were as follows:
Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
(In millions)June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024
Guaranteed separate accounts (See Note 16)
$240 $231 $330 $345 $— $— $570 $576 
Non-guaranteed separate accounts (1)
273 267 5,651 5,575 238 228 6,162 6,070 
Subtotal$513 $498 $5,981 $5,920 $238 $228 6,732 6,646 
Non-guaranteed separate accounts priced at net asset value as a practical expedient (1)
641 632 
Total$7,373 $7,278 
(1)Non-guaranteed separate accounts include $3.8 billion as of both June 30, 2025 and December 31, 2024 in assets supporting the Company's pension plans, including $0.2 billion classified in Level 3 as of both June 30, 2025 and December 31, 2024. Non-guaranteed separate accounts are primarily comprised of securities partnerships, real estate and real estate funds.
Separate account assets classified in Level 3 primarily support the Company's pension plans and include certain newly issued, privately placed, complex or illiquid securities that are priced using methods discussed above, as well as commercial mortgage loans. Activity, including transfers into and out of Level 3, was not material for the three and six months ended June 30, 2025 or 2024.
Assets and Liabilities Measured at Fair Value under Certain Conditions
Some financial assets and liabilities are not carried at fair value, such as commercial mortgage loans that are carried at unpaid principal, investment real estate that is carried at depreciated cost and equity securities with no readily determinable fair value when there are no observable market transactions. However, these financial assets and liabilities may be measured using fair value under certain conditions, such as when investments become impaired and are written down to their fair value, or when there are observable price changes from orderly market transactions of equity securities that otherwise had no readily determinable fair value.

For the six months ended June 30, 2025, impairments recognized requiring the assets and liabilities described above to be measured at fair value were not material. For the six months ended June 30, 2024, we determined our investment in VillageMD was impaired and recorded a $1.8 billion loss in Net investment gains (losses) in the Company's Consolidated Statements of Income. Observable price changes for equity securities with no readily determinable fair value were not material for the six months ended June 30, 2025 or June 30, 2024.
Fair Value Disclosures for Financial Instruments Not Carried at Fair Value
The following table includes the Company's financial instruments not recorded at fair value but for which fair value disclosure is required. In addition to universal life products and finance leases, financial instruments that are carried in the Company's Consolidated Balance Sheets at amounts that approximate fair value are excluded from the following table.
Classification in Fair Value HierarchyJune 30, 2025December 31, 2024
(In millions)Fair ValueCarrying ValueFair ValueCarrying Value
Commercial mortgage loansLevel 3$1,256 $1,311 $1,256 $1,351 
Long-term debt, including current maturities, excluding finance leasesLevel 2$27,419 $29,503 $28,392 $31,008 
v3.25.2
Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Note 13 – Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) ("AOCI") includes net unrealized appreciation on securities and derivatives, change in discount rate and instrument-specific credit risk for certain long-duration insurance contractholder liabilities (see Note 9 to the Consolidated Financial Statements), foreign currency translation, and the net postretirement benefits liability adjustment. AOCI includes the Company's share from unconsolidated entities reported on the equity method. Generally, tax effects in AOCI are established at the currently enacted tax rate and reclassified to Shareholders' net income in the same period that the related pre-tax AOCI reclassifications are recognized.

Shareholders' other comprehensive loss, net of tax, for the three and six months ended June 30, 2025 and June 30, 2024 is primarily attributable to the change in discount rates for certain long-duration liabilities and unrealized changes in the market values of securities and derivatives, including the impacts from unconsolidated entities reported on the equity method.
Changes in the components of AOCI were as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2025202420252024
Securities and derivatives
Beginning balance$732 $292 $832 $171 
Unrealized appreciation on securities and derivatives, before reclassification, net of tax (expense) of $(93), $(29), $(44) and $(68), respectively
303 77 169 181 
Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(4), $(8), $(13) and $(13), respectively
18 31 52 48 
Other comprehensive income, net of tax
321 108 221 229 
Ending balance$1,053 $400 $1,053 $400 
Net long-duration insurance and contractholder liabilities measurement adjustments
Beginning balance$(2,206)$(1,531)$(2,038)$(971)
Net current period change in discount rate for certain long-duration liabilities, before reclassification, net of tax benefit of $205, $76, $238 and $262, respectively
(615)(212)(723)(758)
Amounts reclassified to Shareholders' net income, net of tax expense of $—, $—, $16 and $—, respectively
— — (56)— 
Net current period change in discount rate for certain long-duration liabilities, net of tax benefit of $205, $76, $254 and $262, respectively
(615)(212)(779)(758)
Net current period change in instrument-specific credit risk for market risk benefits, net of tax (expense) benefit of $(2), $—, $(1) and $4, respectively
6 — 2 (14)
Other comprehensive (loss), net of tax
(609)(212)(777)(772)
Ending balance$(2,815)$(1,743)$(2,815)$(1,743)
Translation of foreign currencies
Beginning balance$(185)$(175)$(198)$(149)
Net translation of foreign currencies, before reclassification, net of tax (expense) of $(2), $(1), $(8) and $(3), respectively
65 (5)78 (31)
Ending balance$(120)$(180)$(120)$(180)
Postretirement benefits liability
Beginning balance$(931)$(910)$(937)$(915)
Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(2), $—, $(4) and $(3), respectively
6 7 12 12 
Net change due to valuation update, before reclassification, net of tax benefit of $3, $4, $3 and $4, respectively
(9)(16)(9)(16)
Other comprehensive (loss) income, net of tax
(3)(9)3 (4)
Ending balance$(934)$(919)$(934)$(919)
Total Accumulated other comprehensive loss
Beginning balance$(2,590)$(2,324)$(2,341)$(1,864)
Shareholders' other comprehensive loss, net of tax benefit of $105, $42, $187 and $183, respectively
(226)(118)(475)(578)
Ending balance$(2,816)$(2,442)$(2,816)$(2,442)
v3.25.2
Strategic Optimization Program
 6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Strategic Optimization Program
Note 14 – Strategic Optimization Program
In the first quarter of 2025, the Company commenced an enterprise-wide initiative to evolve our business and deliver a more efficient and improved experience for our patients, providers and customers. This program is expected to continue through December 2026 and include severance and other employee costs, asset impairments and accelerated asset amortization, and the operating results of certain small non-strategic businesses that we plan to discontinue. As we continue to evaluate additional opportunities to improve the overall efficiency and effectiveness of our operations, we anticipate future charges.

During the three and six months ended June 30, 2025, we reported total costs of $129 million, pre-tax ($98 million, after-tax) and $344 million, pre-tax ($261 million, after-tax), respectively, associated with this initiative. During the three months ended June 30, 2025, the total costs included a charge in Selling, general and administrative ("SG&A") expenses of $88 million, pre-tax, that was primarily comprised of asset impairments. During the six months ended June 30, 2025, the total costs included a charge in SG&A expenses of $286 million, pre-tax, that was primarily associated with employee severance. The remainder for both periods reflects the operating results of certain non-strategic businesses. We expect substantially all of the accrued liability to be paid by the end of 2025. See Note 17 to the Consolidated Financial Statements for further details of the Strategic Optimization Program impact by segment.
The following table summarizes a roll forward of the accrued liability recorded in Accrued expenses and other liabilities during the six months ended June 30, 2025:
(In millions)
Balance, December 31, 2024
$— 
2025 charges
194 
2025 payments
(78)
Balance, June 30, 2025
$116 
v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
Note 15 – Income Taxes
Income Tax Expense
The 19.2% effective tax rate for the three months ended June 30, 2025 was higher than the 18.1% rate for the three months ended June 30, 2024. The increase was primarily driven by the absence of tax benefits recorded in 2024 related to the release of tax reserves following favorable state audit resolutions, partially offset by the favorable impact of foreign operations. The 17.1% effective tax rate for the six months ended June 30, 2025 was lower than 31.5% rate for the six months ended June 30, 2024. The decrease was primarily due to the absence of a valuation allowance related to the impairment of equity securities in 2024, partially offset by the absence of tax benefits recorded in 2024 related to the release of tax reserves following favorable state audit resolutions and the impact related to the HCSC transaction.
As of June 30, 2025, we had approximately $847 million in deferred tax assets ("DTAs") associated with the impairment of equity securities as well as unrealized investment losses. A valuation allowance of $636 million, of which $422 million was established in the six months ended June 30, 2024, drove the higher effective tax rate and was almost entirely related to the impairment of equity securities discussed in Note 11 to the Consolidated Financial Statements. We have determined that a valuation allowance against the remaining DTAs is not currently required based on the Company's loss carryback capacity and ability and intent to hold certain securities until recovery. We continue to monitor and evaluate the need for any additional valuation allowance.
v3.25.2
Contingencies and Other Matters
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies and Other Matters
Note 16 – Contingencies and Other Matters
The Company, through its subsidiaries, is contingently liable for various guarantees provided in the ordinary course of business.
A.Financial Guarantees: Retiree and Life Insurance Benefits
The Company guarantees that separate account assets will be sufficient to pay certain life insurance or retiree benefits. For the majority of these benefits, the sponsoring employers are primarily responsible for ensuring that assets are sufficient to pay these benefits and are required to maintain assets that exceed a certain percentage of benefit obligations. If employers fail to do so, the Company or an affiliate of the buyer of the retirement benefits business has the right to redirect the management of the related assets to provide for benefit payments. As of June 30, 2025, employers maintained assets that generally exceeded the benefit obligations under these arrangements of approximately $400 million. An additional liability is established if management believes that the Company will be required to make payments under the guarantees; there were no additional liabilities required for these guarantees, net of reinsurance, as of June 30, 2025. Separate account assets supporting these guarantees are classified in Levels 1 and 2 of the GAAP fair value hierarchy.
The Company does not expect that these financial guarantees will have a material effect on the Company's consolidated results of operations, liquidity or financial condition.
B.Certain Other Guarantees
The Company had indemnification obligations as of June 30, 2025 in connection with acquisition and disposition transactions. These indemnification obligations are triggered by the breach of representations or covenants provided by the Company, such as representations for the presentation of financial statements, filing of tax returns, compliance with laws or regulations, or identification of outstanding litigation. These obligations are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential amount due is subject to contractual limitations based on a stated dollar amount or a percentage of the transaction purchase price, while in other cases limitations are not specified or applicable. The Company does not believe that it is possible to determine the maximum potential amount due under these obligations because not all amounts due under these indemnification obligations are subject to limitation. There were no recorded liabilities for these indemnification obligations as of June 30, 2025.
C.Guaranty Fund Assessments
The Company operates in a regulatory environment that may require its participation in assessments under state insurance guaranty association laws. The Company's exposure to assessments for certain obligations of insolvent insurance companies to policyholders and claimants is based on its share of business written in the relevant jurisdictions. There were no material charges or credits resulting from existing or new guaranty fund assessments for the six months ended June 30, 2025.
Legal and Regulatory Matters
The Company is routinely involved in numerous claims, lawsuits, regulatory inquiries and audits, government investigations, including under the federal False Claims Act and state false claims acts initiated by a government investigating body or by a qui tam relator's filing of a complaint under court seal, and other legal matters arising, for the most part, in the ordinary course of managing a global health services business. Additionally, the Company has received and is cooperating with subpoenas or similar processes from various governmental agencies requesting information, all arising in the normal course of its business. Disputed tax matters arising from audits by the Internal Revenue Service or other state and foreign jurisdictions, including those resulting in litigation, are accounted for under GAAP guidance for uncertain tax positions.
v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information
Note 17 – 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 Chairman and Chief Executive Officer is the chief operating decision maker ("CODM") responsible for making decisions about resources to be allocated to the 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 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 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 June 30,Six Months Ended June 30,
2025202420252024
(In millions)Pre-taxAfter-taxPre-taxAfter-taxPre-taxAfter-taxPre-taxAfter-tax
Strategic optimization program (largely Selling, general and administrative expenses)129 98 — — 344 261 — — 
Integration and transaction-related costs (Selling, general and administrative expenses)$74 $56 $63 $47 $290 $220 $100 $76 
(Gain) loss on sale of businesses — — — — (41)(115)19 (43)
Deferred tax expenses, net (Income taxes, less amount attributable to noncontrolling interests)— 17 — 17 — 34 — 34 
Total impact from special items$203 $171 $63 $64 $593 $400 $119 $67 
Summarized segment financial information was as follows:
(In millions)
Evernorth Health Services
Cigna Healthcare
Other Operations
Corporate and Eliminations
Total
Three months ended June 30, 2025
Revenues from external customers $57,486 $9,358 $98 $— $66,942 
Intersegment revenues308 1,313 13 (1,634)
Net investment income
31 127 73 5 236 
Total revenues57,825 10,798 184 (1,629)67,178 
Net investment results from certain equity method investments — (44)— — (44)
Adjusted revenues$57,825 $10,754 $184 $(1,629)$67,134 
Pharmacy and other service costs54,939 — 
Medical costs— 7,482 
Selling, general and administrative expenses excluding special items1,074 2,180 
Other segment items (1)
Interest (expense) and other1 2 
Less income attributable to noncontrolling interests117 — 
Pre-tax adjusted income (loss) from operations1,696 1,094 25 (382)2,433 
Income (loss) before income taxes
$1,430 $1,098 $(20)$(487)$2,021 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(117)— — — (117)
Net investment (gains) losses (2)
(80)(20)4 — (96)
Amortization of acquired intangible assets416 6 — — 422 
Special items
Strategic optimization program47 10 41 31 129 
Integration and transaction-related costs— — — 74 74 
Pre-tax adjusted income (loss) from operations$1,696 $1,094 $25 $(382)$2,433 
Other segment information
Depreciation and amortization587 81 9 5 682 
(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 June 30, 2024
Revenues from external customers $48,251 $11,821 $130 $— $60,202 
Intersegment revenues1,232 1,203 20 (2,455)
Net investment income
65 172 77 7 321 
Total revenues49,548 13,196 227 (2,448)60,523 
Net investment results from certain equity method investments— (53)— — (53)
Adjusted revenues$49,548 $13,143 $227 $(2,448)$60,470 
Pharmacy and other service costs46,852 — 
Medical costs— 9,312 
Selling, general and administrative expenses excluding special items980 2,629 
Other segment items (1)
Interest (expense) and other(2)2 
Less income attributable to noncontrolling interests95 — 
Pre-tax adjusted income (loss) from operations$1,619 $1,204 $(16)$(435)$2,372 
Income (loss) before income taxes
$1,299 $1,205 $(17)$(498)$1,989 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(95)— — — (95)
Net investment (gains) losses (2)
(1)(5)1 — (5)
Amortization of acquired intangible assets416 4 — — 420 
Special items
Integration and transaction-related costs— — — 63 63 
Pre-tax adjusted income (loss) from operations$1,619 $1,204 $(16)$(435)$2,372 
Other segment information
Depreciation and amortization$614 $113 $2 $9 $738 
(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
Six months ended June 30, 2025
Revenues from external customers$109,488 $22,526 $192 $— $132,206 
Intersegment revenues1,956 2,544 25 (4,525)
Net investment income
62 260 142 10 474 
Total revenues111,506 25,330 359 (4,515)132,680 
Net investment results from certain equity method investments
— (94)— — (94)
Adjusted revenues$111,506 $25,236 $359 $(4,515)$132,586 
Pharmacy and other service costs106,060 — 
Medical costs— 17,867 
Selling, general and administrative expenses2,098 4,992 
Other segment items (1)
Interest (expense) and other1 4 
Less: Income attributable to noncontrolling interests219 — 
Pre-tax adjusted income (loss) from operations3,130 2,381 25 (793)4,743 
Income (loss) before income taxes
$2,538 $2,462 $(40)$(1,291)$3,669 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(219)— — — (219)
Net investment (gains) losses (2)
(84)(67)7 — (144)
Amortization of acquired intangible assets831 13 — — 844 
Special items
Integration and transaction-related costs— — — 290 290 
Strategic optimization program68 10 58 208 344 
(Gain) on sale of businesses(4)(37)— — (41)
Pre-tax adjusted income (loss) from operations$3,130 $2,381 $25 $(793)$4,743 
Other segment information
Depreciation and amortization$1,171 $164 $11 $10 $1,356 
(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
Six months ended June 30, 2024
Revenues from external customers $93,137 $23,833 $196 $1 $117,167 
Intersegment revenues2,513 2,327 45 (4,885)
Net investment income
124 321 152 14 611 
Total revenues95,774 26,481 393 (4,870)117,778 
Net investment results from certain equity method investments— (61)— — (61)
Adjusted revenues$95,774 $26,420 $393 $(4,870)$117,717 
Pharmacy and other service costs90,690 — 
Medical costs— 18,531 
Selling, general and administrative expenses1,931 5,349 
Other segment items (1)
Interest (expense) and other(2)4 
Less: income attributable to noncontrolling interests172 — 
Pre-tax adjusted income (loss) from operations2,979 2,544 2 (844)4,681 
Income (loss) before income taxes
$863 $2,148 $1 $(944)$2,068 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(172)— — — (172)
Net investment losses (2)
1,455 367 1 — 1,823 
Amortization of acquired intangible assets833 10 — — 843 
Special items
Integration and transaction-related costs
— — — 100 100 
Loss on sale of businesses
— 19 — — 19 
Pre-tax adjusted income (loss) from operations$2,979 $2,544 $2 $(844)$4,681 
Other segment information
Depreciation and amortization$1,220 $237 $3 $19 $1,479 
(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.
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 June 30,Six Months Ended June 30,
(In millions)2025202420252024
Products (Pharmacy revenues) (ASC 606)
Network revenues$30,582 $25,276 $58,794 $49,442 
Home delivery and specialty revenues19,974 18,017 38,911 34,475 
Other revenues3,433 2,897 6,510 5,443 
Total Evernorth Health Services
53,989 46,190 104,215 89,360 
Other Operations
14 16 27 33 
Corporate and eliminations(354)(1,105)(1,960)(2,256)
Total Pharmacy revenues
53,649 45,101 102,282 87,137 
Insurance premiums (ASC 944)
Cigna Healthcare
U.S. Healthcare
Employer insured4,684 4,350 9,372 8,743 
Medicare Advantage— 2,207 2,363 4,494 
Stop loss1,879 1,665 3,747 3,333 
Individual and Family Plans941 975 1,800 2,015 
Other462 1,220 2,334 2,478 
U.S. Healthcare
7,966 10,417 19,616 21,063 
International Health1,026 891 2,004 1,776 
Total Cigna Healthcare8,992 11,308 21,620 22,839 
Other Operations78 115 159 163 
Corporate and eliminations86 31 113 55 
Total Premiums
9,156 11,454 21,892 23,057 
Services (Fees) (ASC 606) and Other revenues (1)
Evernorth Health Services
3,805 3,293 7,229 6,290 
Cigna Healthcare
1,679 1,716 3,450 3,321 
Other Operations
19 19 31 45 
Corporate and eliminations(1,366)(1,381)(2,678)(2,683)
Total Fees and other revenues (1)
4,137 3,647 8,032 6,973 
Total revenues from external customers$66,942 $60,202 $132,206 $117,167 
(1)Other revenues for the three months ended June 30, 2025 and 2024 were $114 million and $152 million, respectively, and for the six months ended June 30, 2025 and 2024 were $276 million and $242 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 $1.4 billion as of June 30, 2025 and $1.9 billion December 31, 2024.
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
David Cordani [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On May 6, 2025, David Cordani, Chairman and Chief Executive Officer of The Cigna Group, adopted a 10b5-1 plan. Mr. Cordani's plan provides for (i) the sale of shares of The Cigna Group common stock issuable upon vesting of a performance award (the actual number of shares depends on actual performance achieved and may range from 0% to 200% of the 32,586 shares subject to the award at the target level of performance) and (ii) the exercise of vested stock options and the associated sale of up to 212,543 shares of The Cigna Group common stock, in each case through May 5, 2026.
Name David Cordani
Title Chairman and Chief Executive Officer of The Cigna Group
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 6, 2025
Expiration Date May 5, 2026
Arrangement Duration 364 days
Brian Evanko [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On May 7, 2025, Brian Evanko, President and Chief Operating Officer, adopted a 10b5-1 plan. Mr. Evanko's plan provides for the exercise of vested stock options and the associated sale of up to 18,429 shares of The Cigna Group common stock through May 8, 2026.
Name Brian Evanko
Title President and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 7, 2025
Expiration Date May 8, 2026
Arrangement Duration 366 days
Aggregate Available 18,429
Nicole Jones [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On May 8, 2025, Nicole Jones, Executive Vice President, Chief Administrative Officer and General Counsel, adopted a 10b5-1 plan. Ms. Jones' plan provides for (i) the sale of up to 3,773 shares of The Cigna Group common stock, (ii) the sale of shares of The Cigna Group common stock issuable upon vesting of a performance award (the actual number of shares depends on actual performance achieved and may range from 0% to 200% of the 5,661 shares subject to the award at the target level of performance) and (iii) the exercise of vested stock options and the associated sale of up to 27,430 shares of The Cigna Group common stock, in each case through May 8, 2026.
Name Nicole Jones
Title Executive Vice President, Chief Administrative Officer and General Counsel
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 8, 2025
Expiration Date May 8, 2026
Arrangement Duration 365 days
Everett Neville [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On May 22, 2025, Everett Neville, Executive Vice President of Strategy and Business Development, adopted a 10b5-1 plan. Mr. Neville's plan provides for the sale of shares of The Cigna Group common stock issuable upon vesting of a performance award (the actual number of shares depends on actual performance achieved and may range from 0% to 200% of the 3,565 shares subject to the award at the target level of performance) through May 8, 2026.
Name Everett Neville
Title Executive Vice President of Strategy and Business Development
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 22, 2025
Expiration Date May 8, 2026
Arrangement Duration 351 days
Aggregate Available 3,565
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At Target Level [Member] | David Cordani [Member]  
Trading Arrangements, by Individual  
Aggregate Available 32,586
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At Target Level [Member] | Nicole Jones [Member]  
Trading Arrangements, by Individual  
Aggregate Available 5,661
Trading Arrangement, Stock Options [Member] | David Cordani [Member]  
Trading Arrangements, by Individual  
Aggregate Available 212,543
Trading Arrangement, Stock Options [Member] | Nicole Jones [Member]  
Trading Arrangements, by Individual  
Aggregate Available 27,430
Trading Arrangement, Common Stock [Member] | Nicole Jones [Member]  
Trading Arrangements, by Individual  
Aggregate Available 3,773
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At Zero PercentTarget Level [Member] | David Cordani [Member]  
Trading Arrangements, by Individual  
Aggregate Available 0
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At Zero PercentTarget Level [Member] | Nicole Jones [Member]  
Trading Arrangements, by Individual  
Aggregate Available 0
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At Zero PercentTarget Level [Member] | Everett Neville [Member]  
Trading Arrangements, by Individual  
Aggregate Available 0
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At 200 Percent Target Level [Member] | David Cordani [Member]  
Trading Arrangements, by Individual  
Aggregate Available 65,172
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At 200 Percent Target Level [Member] | Nicole Jones [Member]  
Trading Arrangements, by Individual  
Aggregate Available 11,322
Trading Arrangement, Common Stock Issuable Upon Vesting Of Performance Award At 200 Percent Target Level [Member] | Everett Neville [Member]  
Trading Arrangements, by Individual  
Aggregate Available 7,130
v3.25.2
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The Consolidated Financial Statements include the accounts of The Cigna Group and its consolidated subsidiaries. Intercompany transactions and accounts have been eliminated in consolidation. These Consolidated Financial Statements were prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). Certain amounts in the Consolidated Statements of Cash Flows have been reclassified to conform to current year presentation and did not have a significant impact on our Consolidated Financial Statements.

Amounts recorded in the Consolidated Financial Statements necessarily reflect management's estimates and assumptions about medical costs, investment, tax and receivable valuations, interest rates, and other factors. Significant estimates are discussed throughout these Notes; however, actual results could differ from those estimates. The impact of a change in estimate is generally included in earnings in the period of adjustment.
These interim Consolidated Financial Statements are unaudited but include all adjustments (including normal recurring adjustments) necessary, in the opinion of management, for a fair statement of financial position and results of operations for the periods reported.
The interim Consolidated Financial Statements and Notes should be read in conjunction with the Consolidated Financial Statements and Notes included in the 2024 Annual Report on Form 10-K ("2024 Form 10-K"). The Company has not included certain footnote disclosures that would substantially duplicate the disclosures contained in its 2024 Form 10-K, unless the information in those disclosures materially changed or is required by GAAP. The preparation of interim Consolidated Financial Statements necessarily relies heavily on estimates. This and other factors, including the seasonal nature of portions of the health care and related benefits business, as well as competitive and other market conditions, call for caution in estimating full-year results based on interim results of operations.
Recent Accounting Pronouncements, Recently Adopted Accounting Guidance and Accounting Guidance Not Yet Adopted
Recent Accounting Pronouncements
The Company's 2024 Form 10-K includes discussion of significant recent accounting pronouncements that either have impacted or may impact our financial statements in the future. There are no updates on significant accounting pronouncements recently adopted or recently issued and not yet adopted that have occurred since the Company filed its 2024 Form 10-K.
Revenue Recognition 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.
v3.25.2
Insurance and Contractholder Liabilities (Policies)
 6 Months Ended
Jun. 30, 2025
Insurance Loss Reserves [Abstract]  
Unpaid Claims and Claims Expenses This liability reflects estimates of the ultimate cost of claims that have been incurred but not reported, expected development on reported claims, claims that have been reported but not yet paid (reported claims in process), and other medical care expenses and services payable that are primarily comprised of accruals for incentives and other amounts payable to health care professionals and facilities.
Future Policy Benefits
Obligations for annuities represent discounted periodic benefits to be paid to an individual or groups of individuals over their remaining lives. Other Operations' traditional insurance contracts, which are in run-off, have no premium remaining to be collected; therefore, future policy benefit reserves represent the present value of expected future policy benefits, discounted using the current discount rate, and the remaining amortizable deferred profit liability.
v3.25.2
Reinsurance (Policies)
 6 Months Ended
Jun. 30, 2025
Reinsurance Disclosures [Abstract]  
Reinsurance
Reinsurance and other amounts recoverable reflect amounts due from reinsurers and policyholders to cover incurred but not reported and pending claims of certain business for which the Company administers the plan benefits without any right of offset. See Note 10 to the Consolidated Financial Statements for additional information on reinsurance.
The Company's insurance subsidiaries enter into agreements with other insurance companies to limit losses from large exposures and to permit recovery of a portion of incurred losses. Reinsurance is ceded primarily in acquisition and disposition transactions when the underwriting company is not being acquired. Reinsurance does not relieve the originating insurer of liability. Therefore, reinsured liabilities must continue to be reported along with the related reinsurance recoverables. The Company regularly evaluates the financial condition of its reinsurers and monitors concentrations of its credit risk.
The Company reviews its reinsurance arrangements and establishes reserves against the recoverables primarily for expected credit losses.Variable annuity contracts are accounted for as assumed and ceded reinsurance and categorized as market risk benefits as discussed in Note 9 to the Consolidated Financial Statements.
v3.25.2
Investments (Policies)
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Investments
Review of Declines in Fair Value. Management reviews debt securities in an unrealized loss position to determine whether a credit loss allowance is needed based on criteria that include severity of decline; financial health and specific prospects of the issuer; and changes in the regulatory, economic or general market environment of the issuer's industry or geographic region.
The Company regularly evaluates and monitors credit risk from the initial mortgage loan underwriting and throughout the investment holding period. The annual portfolio review performed in the second quarter of 2025 confirmed ongoing strong overall credit quality in line with the previous year's results. For more information on the Company's accounting policies and methodologies regarding these investments, see Note 11 in the Company's 2024 Form 10-K.
Other long-term investments include investments in unconsolidated entities, including certain limited partnerships and limited liability companies holding real estate, securities or loans. These investments are carried at cost plus the Company's ownership percentage of reporting income or loss, based on the financial statements of the underlying investments that are generally reported at fair value. Income or loss from these investments is reported on a one-quarter lag due to the timing of when financial information is received from the general partner or manager of the investments.
Other long-term investments also include investment real estate carried at depreciated cost less any impairment write-downs to fair value when cash flow estimates indicate that the carrying value may not be recoverable. Additionally, statutory and other restricted deposits and foreign currency swaps carried at fair value are reported in the table below as Other.
Derivative Financial Instruments Please refer to the Company's 2024 Form 10-K for further discussion of the types of derivative financial instruments and associated accounting policies.
v3.25.2
Fair Value Measures and Disclosures (Policies)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
For a description of the policies, methods and assumptions that are used to estimate fair value and determine the fair value hierarchy for each class of financial instruments, see Note 12 in the Company's 2024 Form 10-K.
Level 3 Financial Assets and Financial Liabilities
Certain inputs for instruments classified in Level 3 are unobservable (supported by little or no market activity) and significant to their resulting fair value measurement. Unobservable inputs reflect the Company's best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date. Additionally, as discussed in Note 9E in the Company's 2024 Form 10-K, the Company classifies variable annuity assets and liabilities in Level 3 of the fair value hierarchy.
Quantitative Information about Unobservable Inputs
The significant unobservable input used to value our corporate and government debt securities and mortgage and other asset-backed securities is an adjustment for liquidity. This adjustment is needed to reflect current market conditions and issuer circumstances when there is limited trading activity for the security.
Total gains and losses included in Shareholders' net income in the tables above are reflected in the Consolidated Statements of Income as Net investment gains (losses) and Net investment income. Gains and losses included in Other comprehensive loss, net of tax, in the
tables above are reflected in Net unrealized appreciation on securities and derivatives in the Consolidated Statements of Comprehensive Income.
Transfers into or out of the Level 3 category occur when unobservable inputs, such as the Company's best estimate of what a market participant would use to determine a current transaction price, become more or less significant to the fair value measurement. Market activity typically decreases during periods of economic uncertainty, and this decrease in activity reduces the availability of market observable data. As a result, the level of unobservable judgment that must be applied to the pricing of certain instruments increases and is typically observed through the widening of liquidity spreads.Assets and Liabilities Measured at Fair Value under Certain Conditions
Some financial assets and liabilities are not carried at fair value, such as commercial mortgage loans that are carried at unpaid principal, investment real estate that is carried at depreciated cost and equity securities with no readily determinable fair value when there are no observable market transactions. However, these financial assets and liabilities may be measured using fair value under certain conditions, such as when investments become impaired and are written down to their fair value, or when there are observable price changes from orderly market transactions of equity securities that otherwise had no readily determinable fair value.
Separate Accounts
Separate Accounts
The investment income and fair value gains and losses of Separate account assets generally accrue directly to the contractholders and, together with their deposits and withdrawals, are excluded from the Company's Consolidated Statements of Income and Cash Flows.Separate account assets classified in Level 3 primarily support the Company's pension plans and include certain newly issued, privately placed, complex or illiquid securities that are priced using methods discussed above, as well as commercial mortgage loans.
v3.25.2
Accumulated Other Comprehensive Income (Loss) (Policies)
 6 Months Ended
Jun. 30, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
AOCI Generally, tax effects in AOCI are established at the currently enacted tax rate and reclassified to Shareholders' net income in the same period that the related pre-tax AOCI reclassifications are recognized.
v3.25.2
Commitment and Contingencies (Policies)
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Guarantees Financial Guarantees: Retiree and Life Insurance BenefitsThe Company guarantees that separate account assets will be sufficient to pay certain life insurance or retiree benefits. For the majority of these benefits, the sponsoring employers are primarily responsible for ensuring that assets are sufficient to pay these benefits and are required to maintain assets that exceed a certain percentage of benefit obligations. If employers fail to do so, the Company or an affiliate of the buyer of the retirement benefits business has the right to redirect the management of the related assets to provide for benefit payments.An additional liability is established if management believes that the Company will be required to make payments under the guarantees;Separate account assets supporting these guarantees are classified in Levels 1 and 2 of the GAAP fair value hierarchy.Certain Other GuaranteesThe Company had indemnification obligations as of June 30, 2025 in connection with acquisition and disposition transactions. These indemnification obligations are triggered by the breach of representations or covenants provided by the Company, such as representations for the presentation of financial statements, filing of tax returns, compliance with laws or regulations, or identification of outstanding litigation. These obligations are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential amount due is subject to contractual limitations based on a stated dollar amount or a percentage of the transaction purchase price, while in other cases limitations are not specified or applicable. The Company does not believe that it is possible to determine the maximum potential amount due under these obligations because not all amounts due under these indemnification obligations are subject to limitation.
v3.25.2
Segment Reporting (Policies)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Intersegment revenues primarily reflect pharmacy and care services transactions between the Evernorth Health Services and Cigna Healthcare segments. The Chairman and Chief Executive Officer is the chief operating decision maker ("CODM") responsible for making decisions about resources to be allocated to the 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 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 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.
v3.25.2
Accounts Receivable, Net (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Accounts Receivable, Net
The following amounts were included within Accounts receivable, net:
(In millions)June 30, 2025December 31, 2024
Noninsurance customer receivables$14,690 $11,879 
Pharmaceutical manufacturers receivables14,094 10,914 
Insurance customer receivables1,606 3,199 
Other receivables758 162 
Total$26,154 
Accounts receivable, net classified as assets of businesses held for sale
(1,927)
Total$31,148 $24,227 
v3.25.2
Divestiture (Tables)
 6 Months Ended
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Divestiture
(In millions)December 31, 2024
Cash and cash equivalents$1,339 
Investments1,444 
Accounts receivable, net1,927 
Other assets, including Goodwill (1)
2,294 
Total assets of businesses held for sale7,004 
Insurance and contractholder liabilities1,579 
All other liabilities831 
Total liabilities of businesses held for sale$2,410 
(1) Includes Goodwill of $94 million.
v3.25.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share
Basic and diluted earnings per share were computed as follows:
Three Months Ended
June 30, 2025June 30, 2024
(Shares in thousands, dollars in millions, except per share amounts)BasicEffect of
Dilution		DilutedBasicEffect of
Dilution		Diluted
Shareholders' net income$1,532 $1,532 $1,548 $1,548 
Shares:
Weighted average266,181 266,181 281,133 281,133 
Common stock equivalents1,973 1,973 2,919 2,919 
Total shares266,181 1,973 268,154 281,133 2,919 284,052 
Earnings per share$5.76 $(0.05)$5.71 $5.51 $(0.06)$5.45 
Six Months Ended
June 30, 2025June 30, 2024
(Shares in thousands, dollars in millions, except per share amounts)BasicEffect of
Dilution		DilutedBasicEffect of
Dilution		Diluted
Shareholders' net income
$2,855 $2,855 $1,271 $1,271 
Shares:
Weighted average268,511 268,511 283,799 283,799 
Common stock equivalents2,029 2,029 3,085 3,085 
Total shares268,511 2,029 270,540 283,799 3,085 286,884 
Earnings per share$10.63 $(0.08)$10.55 $4.48 $(0.05)$4.43 
Outstanding Employee Stock Options Not Included in the Computation of Diluted Earnings Per Share
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 June 30,Six Months Ended June 30,
(In millions)2025202420252024
Anti-dilutive options1.5 0.8 1.9 1.2 
v3.25.2
Common and Preferred Stock (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Dividend Payments
The following table provides details of the Company's dividend payments:
Record DatePayment DateAmount per Share
Total Amount Paid (in millions)
2025
March 5, 2025March 20, 2025$1.51$412
June 3, 2025June 18, 2025$1.51$401
2024
March 6, 2024March 21, 2024$1.40$401
June 4, 2024June 20, 2024$1.40$392
v3.25.2
Insurance and Contractholder Liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Insurance Loss Reserves [Abstract]  
Insurance and Contractholder Liabilities
The Company's insurance and contractholder liabilities were comprised of the following:
June 30, 2025December 31, 2024June 30, 2024
(In millions)CurrentNon-currentTotalCurrentNon-currentTotalTotal
Unpaid claims and claim expenses
Cigna Healthcare
$4,577 $59 $4,636 $4,932 $86 $5,018 $5,202 
Other169 186 355 147 144 291 316 
Future policy benefits
Cigna Healthcare
38 154 192 91 507 598 596 
Other Operations147 3,145 3,292 157 3,140 3,297 3,362 
Contractholder deposit funds
Cigna Healthcare
— — — 9 115 124 135 
Other Operations360 5,828 6,188 366 5,958 6,324 6,381 
Market risk benefits27 740 767 25 760 785 865 
Unearned premiums697 45 742 753 31 784 765 
Total6,480 10,741 17,221 17,622
Insurance and contractholder liabilities classified as liabilities of businesses held for sale (1)
(1,092)(487)(1,579)(1,557)
Total insurance and contractholder liabilities$6,015 $10,157 $16,172 $5,388 $10,254 $15,642 $16,065 
(1) Amounts classified as liabilities of businesses held for sale include $983 million of Unpaid claims, $408 million of Future policy benefits, $85 million of Unearned premiums and $103 million of Contractholder deposit funds as of December 31, 2024 and $900 million of Unpaid claims, $417 million of Future policy benefits, $129 million of Unearned premiums and $111 million of Contractholder deposit funds as of June 30, 2024.
Activity, net of intercompany transactions, in the unpaid claims liability for the Cigna Healthcare segment was as follows:
Six Months Ended June 30,
(In millions)
2025 (1)
2024 (1)
Beginning balance$5,018 $5,092 
Less: Reinsurance and other amounts recoverable159 236 
Beginning balance, net4,859 4,856 
Incurred costs related to:
Current year18,163 18,821 
Prior years(297)(284)
Total incurred17,866 18,537 
Paid costs related to:
Current year13,019 14,397 
Prior years3,889 3,960 
Total paid16,908 18,357 
Less: Divestiture and other1,323 — 
Ending balance, net4,494 5,036 
Add: Reinsurance and other amounts recoverable142 166 
Ending balance$4,636 $5,202 
(1) Includes unpaid claims amounts classified as liabilities of businesses held for sale prior to the completion of the HCSC transaction. As of December 31, 2024, June 30, 2024 and December 31, 2023, includes $983 million, $900 million and $823 million classified as liabilities of businesses held for sale, respectively.
Variances in Incurred Costs Related to Prior Years' Unpaid Claims and Claims Expenses
Variances in incurred costs related to prior years' unpaid claims and claim expenses that resulted from the differences between actual experience and the Company's key assumptions were as follows:
Six Months Ended June 30,
20252024
(Dollars in millions)$
% (1)
$
% (2)
Actual completion factors and other
$170 0.5 %$83 0.2 %
Medical cost trend127 0.3 201 0.6 
Total favorable variance$297 0.8 %$284 0.8 %
(1)Percentage of current year incurred costs as reported for the year ended December 31, 2024.
(2)Percentage of current year incurred costs as reported for the year ended December 31, 2023.
Future Policy Benefit Activity
The weighted average interest rates applied and duration for future policy benefits in Other Operations, consisting of annuity and life insurance products, were as follows:
As of
June 30, 2025June 30, 2024
Interest accretion rate 5.64 %5.64 %
Current discount rate 5.27 %5.38 %
Weighted average duration 10.6 years11.2 years
Summary of Market Risk Benefit
Market risk benefits activity was as follows:
Six Months Ended June 30,
(In millions)20252024
Balance, beginning of year$785 $1,003 
Balance, beginning of year, before the effect of nonperformance risk (own credit risk)838 1,085 
Changes due to expected run-off(11)(6)
Changes due to capital markets versus expected(7)(133)
Changes due to policyholder behavior versus expected3 (17)
Balance, end of period, before the effect of changes in nonperformance risk (own credit risk)823 929 
Nonperformance risk (own credit risk), end of period(56)(64)
Balance, end of period$767 $865 
Reinsured market risk benefit, end of period$822 $927 
Account Value, Net Amount at Risk and the Number of Contractholders for Guarantees Assumed in the Event of Death
The following table presents the net amount at risk and the average attained age of contractholders (weighted by exposure) for contracts assumed by the Company. The net amount at risk is the amount the Company would have to pay to contractholders if all deaths or annuitizations occurred as of the earliest possible date in accordance with the insurance contract. The Company should be reimbursed in full for these payments unless the Berkshire reinsurance limit is exceeded, as discussed further in Note 10 to the Consolidated Financial Statements.
(Dollars in millions, excludes impact of reinsurance ceded)June 30, 2025June 30, 2024
Net amount at risk$1,236 $1,391 
Average attained age of contractholders (weighted by exposure)78.0 years77.8 years
v3.25.2
Reinsurance (Tables)
 6 Months Ended
Jun. 30, 2025
Reinsurance Disclosures [Abstract]  
Reinsurance Recoverables
The Company's reinsurance recoverables as of June 30, 2025 are presented at amount due by range of external credit rating and collateral level in the following table, with reinsurance recoverables that are market risk benefits separately presented at fair value:
(In millions)
Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable
Collateral Provisions Exist That May Mitigate Risk of Credit Loss (1)
No CollateralTotal
Ongoing operations
A- equivalent and higher current ratings (2)
$— $6 $202 $208 
BBB- to BBB+ equivalent current credit ratings (2)
— — 65 65 
Not rated90 5 3 98 
Acquisition, disposition or run-off activities
BBB+ equivalent and higher current ratings (2)(3)
297 2,771 201 3,269 
Not rated— 6 1 7 
Total reinsurance recoverables before market risk benefits$387 $2,788 $472 $3,647 
Allowance for uncollectible reinsurance(30)
Market risk benefits822 
Total reinsurance recoverables (4)
$4,439 
(1)Includes collateral provisions requiring the reinsurer to fully collateralize its obligation if its external credit rating is downgraded to a specified level.
(2)Certified by a nationally recognized statistical ratings organization ("NRSRO").
(3)Comprised of six reinsurers, of which 75% is held by two reinsurers, Lincoln National Life Insurance Company and Lincoln Life and Annuity Company of New York.
(4)Includes $142 million of current reinsurance recoverables that are reported in Other current assets.
v3.25.2
Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Investments by category and current or long-term classification
The following table summarizes the Company's investments by category and current or long-term classification:
June 30, 2025December 31, 2024
(In millions)CurrentLong-TermTotalCurrentLong-TermTotal
Debt securities$443 $7,946 $8,389 $463 $8,960 $9,423 
Equity securities15 561 576 7 554 561 
Commercial mortgage loans105 1,206 1,311 108 1,243 1,351 
Policy loans— 1,117 1,117 — 1,156 1,156 
Other long-term investments— 4,832 4,832 — 4,576 4,576 
Short-term investments250 — 250 170 — 170 
Total$748 $16,489 $17,237 
Investments classified as assets of businesses held for sale (1)
(83)(1,361)(1,444)
Investments per Consolidated Balance Sheets$813 $15,662 $16,475 $665 $15,128 $15,793 
(1) Investments related to the HCSC transaction that were held for sale as of December 31, 2024. These investments were primarily comprised of debt securities.
Debt Securities by Contractual Maturity
The amortized cost and fair value by contractual maturity periods for debt securities were as follows as of June 30, 2025:
(In millions)Amortized
Cost		Fair
Value
Due in one year or less$620 $543 
Due after one year through five years3,587 3,556 
Due after five years through ten years2,280 2,203 
Due after ten years2,033 1,838 
Mortgage and other asset-backed securities277 249 
Total$8,797 $8,389 
Gross Unrealized Appreciation (Depreciation) on Debt Securities
Gross unrealized appreciation (depreciation) on debt securities by type of issuer is shown below:
(In millions)Amortized
Cost		Allowance for Credit LossUnrealized
Appreciation		Unrealized
Depreciation		Fair
Value
June 30, 2025
Federal government and agency$212 $— $16 $(4)$224 
State and local government24 — — — 24 
Foreign government399 — 10 (8)401 
Corporate7,885 (124)145 (415)7,491 
Mortgage and other asset-backed277 — 1 (29)249 
Total$8,797 $(124)$172 $(456)$8,389 
December 31, 2024
Federal government and agency$276 $— $14 $(9)$281 
State and local government37 — 1 (1)37 
Foreign government350 — 5 (11)344 
Corporate9,091 (111)102 (659)8,423 
Mortgage and other asset-backed371 — 1 (34)338 
Total$10,125 $(111)$123 $(714)$9,423 
Summary of Debt Securities with a Decline in Fair Value
The table below summarizes debt securities with a decline in fair value from amortized cost for which an allowance for credit losses has not been recorded (by investment grade and the length of time these securities have been in an unrealized loss position). Unrealized depreciation on these debt securities is primarily due to declines in fair value resulting from increasing interest rates since these securities were purchased.
June 30, 2025December 31, 2024
(Dollars in millions)Fair
Value		Amortized
Cost		Unrealized
Depreciation		Number
of Issues		Fair
Value		Amortized
Cost		Unrealized
Depreciation		Number
of Issues
One year or less
Investment grade$452 $456 $(4)187$1,203 $1,227 $(24)545 
Below investment grade74 78 (4)308245 250 (5)739 
More than one year
Investment grade3,505 3,924 (419)9844,687 5,319 (632)1,297 
Below investment grade219 248 (29)81416 469 (53)123 
Total$4,250 $4,706 $(456)1,560 $6,551 $7,265 $(714)2,704 
Equity Security Investments
The following table provides the values of the Company's equity security investments:
June 30, 2025 December 31, 2024
(In millions) CostCarrying Value CostCarrying Value
Equity securities with readily determinable fair values$639 $118 $635 $37 
Equity securities with no readily determinable fair value3,218 458 3,215 524 
Total$3,857 $576 $3,850 $561 
Summary of the Credit Risk Profile of the Commercial Mortgage Loan Portfolio
The following table summarizes the credit risk profile of the Company's commercial mortgage loan portfolio:

(Dollars in millions)June 30, 2025December 31, 2024
Loan-to-Value RatioCarrying ValueAverage Debt Service Coverage RatioAverage Loan-to-Value RatioCarrying ValueAverage Debt Service Coverage RatioAverage Loan-to-Value Ratio
Below 60%$422 2.02$547 2.07
60% to 79%704 1.77595 1.83
80% to 100%185 0.83209 0.51
Total$1,311 1.6970 %$1,351 1.7069 %
Carrying Value Information for Other Long-Term Investments
Other long-term investments include investments in unconsolidated entities, including certain limited partnerships and limited liability companies holding real estate, securities or loans. These investments are carried at cost plus the Company's ownership percentage of reporting income or loss, based on the financial statements of the underlying investments that are generally reported at fair value. Income or loss from these investments is reported on a one-quarter lag due to the timing of when financial information is received from the general partner or manager of the investments.
Other long-term investments also include investment real estate carried at depreciated cost less any impairment write-downs to fair value when cash flow estimates indicate that the carrying value may not be recoverable. Additionally, statutory and other restricted deposits and foreign currency swaps carried at fair value are reported in the table below as Other. The following table provides the carrying value information for these investments:
Carrying Value as of
(In millions)June 30, 2025December 31, 2024
Real estate investments$1,866 $1,763 
Securities partnerships2,781 2,587 
Other185 226 
Total$4,832 $4,576 
v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Financial Assets and Financial Liabilities Carried at Fair Value
The following table provides information about the Company's financial assets and liabilities carried at fair value. Further information regarding insurance assets and liabilities carried at fair value is provided in Note 9E to the Consolidated Financial Statements. Separate account assets are also recorded at fair value on the Company's Consolidated Balance Sheets and are reported separately in the Separate Accounts section below as gains and losses related to these assets generally accrue directly to contractholders.
(In millions)Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024
Financial assets at fair value
Debt securities
Federal government and agency$105 $165 $119 $116 $— $— $224 $281 
State and local government— — 24 37 — — 24 37 
Foreign government— — 401 344 — — 401 344 
Corporate
— — 7,171 8,049 320 374 7,491 8,423 
Mortgage and other asset-backed— — 209 295 40 43 249 338 
Total debt securities105 165 7,924 8,841 360 417 8,389 9,423 
Equity securities (1)
63 1 53 36 2 — 118 37 
Short-term investments— — 250 170 — — 250 170 
Derivative assets— — 64 168 — — 64 168 
Financial liabilities at fair value
Derivative liabilities$— $— $30 $1 $— $— $30 $1 
(1)Excludes certain equity securities that have no readily determinable fair value.
Fair Value and Significant Unobservable Inputs Used in Pricing Debt Securities
The following table summarizes the fair value and significant unobservable inputs that were developed directly by the Company and used in pricing these debt securities. The range and weighted average basis point amounts for liquidity reflect the Company's best estimates of the unobservable adjustments a market participant would make to calculate these fair values. An increase in liquidity spread adjustments would result in a lower fair value measurement, while a decrease would result in a higher fair value measurement.

Fair Value as ofUnobservable Adjustment Range (Weighted Average by Quantity) as of
(Fair value in millions)June 30,
2025		December 31,
2024
Unobservable Input
June 30, 2025
June 30,
2025		December 31,
2024
Debt securities
Corporate$319 $373 Liquidity
60 - 2020 (360)
bps
60 - 1520 (370)
bps
Mortgage and other asset-backed securities40 43 Liquidity
110 - 660 (370)
bps
100 - 550 (280)
bps
Other debt securities1 1 
Total Level 3 debt securities$360 $417 
Changes in Level 3 Financial Assets and Financial Liabilities Carried at Fair Value
The following table summarizes the changes in financial assets and financial liabilities classified in Level 3. Gains and losses reported in the table may include net changes in fair value that are attributable to both observable and unobservable inputs.
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2025202420252024
Debt and Equity Securities
Beginning balance$373 $422 $417 $447 
Losses included in Shareholders' net income
(4)(40)(14)(61)
Gains (losses) included in Other comprehensive loss
3 (2)10 (5)
Purchases, sales and settlements
Purchases25 11 27 11 
Sales(2)— (2)— 
Settlements(49)(1)(80)(15)
Total purchases, sales and settlements(26)10 (55)(4)
Transfers into / (out of) Level 3
Transfers into Level 331 15 49 31 
Transfers out of Level 3(15)(8)(45)(11)
Total transfers into / (out of) Level 316 7 4 20 
Ending balance$362 $397 $362 $397 
Total losses included in Shareholders' net income attributable to instruments held at the reporting date
$(4)$(41)$(17)$(61)
Change in unrealized gain or (loss) included in Other comprehensive loss for assets held at the end of the reporting period
$4 $(2)$7 $(6)
Fair Values of Separate Account Assets
Fair values of Separate account assets were as follows:
Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
(In millions)June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024		June 30,
2025		December 31,
2024
Guaranteed separate accounts (See Note 16)
$240 $231 $330 $345 $— $— $570 $576 
Non-guaranteed separate accounts (1)
273 267 5,651 5,575 238 228 6,162 6,070 
Subtotal$513 $498 $5,981 $5,920 $238 $228 6,732 6,646 
Non-guaranteed separate accounts priced at net asset value as a practical expedient (1)
641 632 
Total$7,373 $7,278 
(1)Non-guaranteed separate accounts include $3.8 billion as of both June 30, 2025 and December 31, 2024 in assets supporting the Company's pension plans, including $0.2 billion classified in Level 3 as of both June 30, 2025 and December 31, 2024. Non-guaranteed separate accounts are primarily comprised of securities partnerships, real estate and real estate funds.
Fair Value Disclosures for Financial Instruments Not Carried at Fair Value
The following table includes the Company's financial instruments not recorded at fair value but for which fair value disclosure is required. In addition to universal life products and finance leases, financial instruments that are carried in the Company's Consolidated Balance Sheets at amounts that approximate fair value are excluded from the following table.
Classification in Fair Value HierarchyJune 30, 2025December 31, 2024
(In millions)Fair ValueCarrying ValueFair ValueCarrying Value
Commercial mortgage loansLevel 3$1,256 $1,311 $1,256 $1,351 
Long-term debt, including current maturities, excluding finance leasesLevel 2$27,419 $29,503 $28,392 $31,008 
v3.25.2
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Changes in the Components of AOCI
Changes in the components of AOCI were as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2025202420252024
Securities and derivatives
Beginning balance$732 $292 $832 $171 
Unrealized appreciation on securities and derivatives, before reclassification, net of tax (expense) of $(93), $(29), $(44) and $(68), respectively
303 77 169 181 
Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(4), $(8), $(13) and $(13), respectively
18 31 52 48 
Other comprehensive income, net of tax
321 108 221 229 
Ending balance$1,053 $400 $1,053 $400 
Net long-duration insurance and contractholder liabilities measurement adjustments
Beginning balance$(2,206)$(1,531)$(2,038)$(971)
Net current period change in discount rate for certain long-duration liabilities, before reclassification, net of tax benefit of $205, $76, $238 and $262, respectively
(615)(212)(723)(758)
Amounts reclassified to Shareholders' net income, net of tax expense of $—, $—, $16 and $—, respectively
— — (56)— 
Net current period change in discount rate for certain long-duration liabilities, net of tax benefit of $205, $76, $254 and $262, respectively
(615)(212)(779)(758)
Net current period change in instrument-specific credit risk for market risk benefits, net of tax (expense) benefit of $(2), $—, $(1) and $4, respectively
6 — 2 (14)
Other comprehensive (loss), net of tax
(609)(212)(777)(772)
Ending balance$(2,815)$(1,743)$(2,815)$(1,743)
Translation of foreign currencies
Beginning balance$(185)$(175)$(198)$(149)
Net translation of foreign currencies, before reclassification, net of tax (expense) of $(2), $(1), $(8) and $(3), respectively
65 (5)78 (31)
Ending balance$(120)$(180)$(120)$(180)
Postretirement benefits liability
Beginning balance$(931)$(910)$(937)$(915)
Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(2), $—, $(4) and $(3), respectively
6 7 12 12 
Net change due to valuation update, before reclassification, net of tax benefit of $3, $4, $3 and $4, respectively
(9)(16)(9)(16)
Other comprehensive (loss) income, net of tax
(3)(9)3 (4)
Ending balance$(934)$(919)$(934)$(919)
Total Accumulated other comprehensive loss
Beginning balance$(2,590)$(2,324)$(2,341)$(1,864)
Shareholders' other comprehensive loss, net of tax benefit of $105, $42, $187 and $183, respectively
(226)(118)(475)(578)
Ending balance$(2,816)$(2,442)$(2,816)$(2,442)
v3.25.2
Strategic Optimization Program (Tables)
 6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Roll forward of Accrued Liability
The following table summarizes a roll forward of the accrued liability recorded in Accrued expenses and other liabilities during the six months ended June 30, 2025:
(In millions)
Balance, December 31, 2024
$— 
2025 charges
194 
2025 payments
(78)
Balance, June 30, 2025
$116 
v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Summary of Special Items
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 June 30,Six Months Ended June 30,
2025202420252024
(In millions)Pre-taxAfter-taxPre-taxAfter-taxPre-taxAfter-taxPre-taxAfter-tax
Strategic optimization program (largely Selling, general and administrative expenses)129 98 — — 344 261 — — 
Integration and transaction-related costs (Selling, general and administrative expenses)$74 $56 $63 $47 $290 $220 $100 $76 
(Gain) loss on sale of businesses — — — — (41)(115)19 (43)
Deferred tax expenses, net (Income taxes, less amount attributable to noncontrolling interests)— 17 — 17 — 34 — 34 
Total impact from special items$203 $171 $63 $64 $593 $400 $119 $67 
Summarized Segment Financial Information Summarized segment financial information was as follows:
(In millions)
Evernorth Health Services
Cigna Healthcare
Other Operations
Corporate and Eliminations
Total
Three months ended June 30, 2025
Revenues from external customers $57,486 $9,358 $98 $— $66,942 
Intersegment revenues308 1,313 13 (1,634)
Net investment income
31 127 73 5 236 
Total revenues57,825 10,798 184 (1,629)67,178 
Net investment results from certain equity method investments — (44)— — (44)
Adjusted revenues$57,825 $10,754 $184 $(1,629)$67,134 
Pharmacy and other service costs54,939 — 
Medical costs— 7,482 
Selling, general and administrative expenses excluding special items1,074 2,180 
Other segment items (1)
Interest (expense) and other1 2 
Less income attributable to noncontrolling interests117 — 
Pre-tax adjusted income (loss) from operations1,696 1,094 25 (382)2,433 
Income (loss) before income taxes
$1,430 $1,098 $(20)$(487)$2,021 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(117)— — — (117)
Net investment (gains) losses (2)
(80)(20)4 — (96)
Amortization of acquired intangible assets416 6 — — 422 
Special items
Strategic optimization program47 10 41 31 129 
Integration and transaction-related costs— — — 74 74 
Pre-tax adjusted income (loss) from operations$1,696 $1,094 $25 $(382)$2,433 
Other segment information
Depreciation and amortization587 81 9 5 682 
(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 June 30, 2024
Revenues from external customers $48,251 $11,821 $130 $— $60,202 
Intersegment revenues1,232 1,203 20 (2,455)
Net investment income
65 172 77 7 321 
Total revenues49,548 13,196 227 (2,448)60,523 
Net investment results from certain equity method investments— (53)— — (53)
Adjusted revenues$49,548 $13,143 $227 $(2,448)$60,470 
Pharmacy and other service costs46,852 — 
Medical costs— 9,312 
Selling, general and administrative expenses excluding special items980 2,629 
Other segment items (1)
Interest (expense) and other(2)2 
Less income attributable to noncontrolling interests95 — 
Pre-tax adjusted income (loss) from operations$1,619 $1,204 $(16)$(435)$2,372 
Income (loss) before income taxes
$1,299 $1,205 $(17)$(498)$1,989 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(95)— — — (95)
Net investment (gains) losses (2)
(1)(5)1 — (5)
Amortization of acquired intangible assets416 4 — — 420 
Special items
Integration and transaction-related costs— — — 63 63 
Pre-tax adjusted income (loss) from operations$1,619 $1,204 $(16)$(435)$2,372 
Other segment information
Depreciation and amortization$614 $113 $2 $9 $738 
(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
Six months ended June 30, 2025
Revenues from external customers$109,488 $22,526 $192 $— $132,206 
Intersegment revenues1,956 2,544 25 (4,525)
Net investment income
62 260 142 10 474 
Total revenues111,506 25,330 359 (4,515)132,680 
Net investment results from certain equity method investments
— (94)— — (94)
Adjusted revenues$111,506 $25,236 $359 $(4,515)$132,586 
Pharmacy and other service costs106,060 — 
Medical costs— 17,867 
Selling, general and administrative expenses2,098 4,992 
Other segment items (1)
Interest (expense) and other1 4 
Less: Income attributable to noncontrolling interests219 — 
Pre-tax adjusted income (loss) from operations3,130 2,381 25 (793)4,743 
Income (loss) before income taxes
$2,538 $2,462 $(40)$(1,291)$3,669 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(219)— — — (219)
Net investment (gains) losses (2)
(84)(67)7 — (144)
Amortization of acquired intangible assets831 13 — — 844 
Special items
Integration and transaction-related costs— — — 290 290 
Strategic optimization program68 10 58 208 344 
(Gain) on sale of businesses(4)(37)— — (41)
Pre-tax adjusted income (loss) from operations$3,130 $2,381 $25 $(793)$4,743 
Other segment information
Depreciation and amortization$1,171 $164 $11 $10 $1,356 
(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
Six months ended June 30, 2024
Revenues from external customers $93,137 $23,833 $196 $1 $117,167 
Intersegment revenues2,513 2,327 45 (4,885)
Net investment income
124 321 152 14 611 
Total revenues95,774 26,481 393 (4,870)117,778 
Net investment results from certain equity method investments— (61)— — (61)
Adjusted revenues$95,774 $26,420 $393 $(4,870)$117,717 
Pharmacy and other service costs90,690 — 
Medical costs— 18,531 
Selling, general and administrative expenses1,931 5,349 
Other segment items (1)
Interest (expense) and other(2)4 
Less: income attributable to noncontrolling interests172 — 
Pre-tax adjusted income (loss) from operations2,979 2,544 2 (844)4,681 
Income (loss) before income taxes
$863 $2,148 $1 $(944)$2,068 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(172)— — — (172)
Net investment losses (2)
1,455 367 1 — 1,823 
Amortization of acquired intangible assets833 10 — — 843 
Special items
Integration and transaction-related costs
— — — 100 100 
Loss on sale of businesses
— 19 — — 19 
Pre-tax adjusted income (loss) from operations$2,979 $2,544 $2 $(844)$4,681 
Other segment information
Depreciation and amortization$1,220 $237 $3 $19 $1,479 
(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.
Revenue from External Customers
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 June 30,Six Months Ended June 30,
(In millions)2025202420252024
Products (Pharmacy revenues) (ASC 606)
Network revenues$30,582 $25,276 $58,794 $49,442 
Home delivery and specialty revenues19,974 18,017 38,911 34,475 
Other revenues3,433 2,897 6,510 5,443 
Total Evernorth Health Services
53,989 46,190 104,215 89,360 
Other Operations
14 16 27 33 
Corporate and eliminations(354)(1,105)(1,960)(2,256)
Total Pharmacy revenues
53,649 45,101 102,282 87,137 
Insurance premiums (ASC 944)
Cigna Healthcare
U.S. Healthcare
Employer insured4,684 4,350 9,372 8,743 
Medicare Advantage— 2,207 2,363 4,494 
Stop loss1,879 1,665 3,747 3,333 
Individual and Family Plans941 975 1,800 2,015 
Other462 1,220 2,334 2,478 
U.S. Healthcare
7,966 10,417 19,616 21,063 
International Health1,026 891 2,004 1,776 
Total Cigna Healthcare8,992 11,308 21,620 22,839 
Other Operations78 115 159 163 
Corporate and eliminations86 31 113 55 
Total Premiums
9,156 11,454 21,892 23,057 
Services (Fees) (ASC 606) and Other revenues (1)
Evernorth Health Services
3,805 3,293 7,229 6,290 
Cigna Healthcare
1,679 1,716 3,450 3,321 
Other Operations
19 19 31 45 
Corporate and eliminations(1,366)(1,381)(2,678)(2,683)
Total Fees and other revenues (1)
4,137 3,647 8,032 6,973 
Total revenues from external customers$66,942 $60,202 $132,206 $117,167 
(1)Other revenues for the three months ended June 30, 2025 and 2024 were $114 million and $152 million, respectively, and for the six months ended June 30, 2025 and 2024 were $276 million and $242 million, respectively.
v3.25.2
Accounts Receivable, Net - Amounts (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Receivables [Abstract]    
Noninsurance customer receivables $ 14,690  
Pharmaceutical manufacturer receivables 14,094  
Insurance customer receivables 1,606  
Other receivables 758  
Accounts receivable, net $ 31,148 $ 24,227
v3.25.2
Accounts Receivable, Net - Amounts, Including Disposal Groups (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Noninsurance customer receivables, including held for sale assets   $ 11,879
Pharmaceutical manufacturers receivable, including held for sale assets   10,914
Insurance customer receivables, including held for sale assets   3,199
Other receivables, including held for sale assets   162
Total   26,154
Accounts receivable, net $ 31,148 24,227
Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Accounts receivable, net classified as assets of businesses held for sale   $ (1,927)
v3.25.2
Accounts Receivable, Net - Allowances (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Receivables [Abstract]    
Allowance for receivables, current $ 6,900 $ 5,000
Allowance for current expected credit losses on accounts receivable $ 388 $ 84
v3.25.2
Accounts Receivable, Net - Factoring Facility (Details) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Receivables [Abstract]            
Initial term, uncommitted factoring facility (in years) 2 years          
Automatic renewal term, uncommitted factoring facility (in years) 1 year          
Total capacity, uncommitted factoring facility   $ 1,500,000,000   $ 1,500,000,000    
Accounts receivable sold, uncommitted factoring facility   1,300,000,000 $ 1,300,000,000 2,700,000,000 $ 3,200,000,000  
Accounts receivable sold that remain outstanding, uncommitted factoring facility   1,000,000,000.0   1,000,000,000.0   $ 0
Accounts receivable received but not remitted, uncommitted factoring facility   $ 297,000,000   $ 297,000,000   $ 1,000,000,000.0
v3.25.2
Supplier Finance Program (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Payables and Accruals [Abstract]    
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable
Outstanding payment obligations, supplier finance program $ 1,700 $ 1,600
Outstanding payment obligations, current 1,700 $ 1,600
Outstanding payment obligations, current, voluntarily elected by suppliers to be sold to the financial institution $ 763  
v3.25.2
Divestiture (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 19, 2025
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Jan. 31, 2024
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]                  
Integration and transaction-related costs     $ 74   $ 63 $ 290 $ 100    
Integration and transaction-related costs, after-tax     $ 56   47 $ 220 76    
Disposed of by Sale | Medicare Advantage and related Cigna Healthcare businesses | Health Care Service Corporation (HCSC)                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Cash proceeds from sale of business $ 4,200                
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax [Abstract]                  
Estimated loss on sale, pre-tax       $ 37          
Estimated loss on sale, after-tax       $ 112          
Loss on sale of businesses, location, Consolidated Statements of Income       Gain (loss) on sale of businesses          
Disposed of by Sale | Medicare Advantage and related Cigna Healthcare businesses | Health Care Service Corporation (HCSC) | Forecast                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Cash proceeds from sale of business   $ 600              
Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses                  
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]                  
Cash and cash equivalents               $ 1,339  
Investments               1,444  
Accounts receivable, net               1,927  
Other assets, including Goodwill               2,294  
Goodwill classified as Assets of businesses held for sale               94  
Total assets of businesses held for sale               7,004  
Insurance and contractholder liabilities         $ 1,557   $ 1,557 1,579  
All other liabilities               831  
Total liabilities of businesses held for sale               $ 2,410  
Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses | Health Care Service Corporation (HCSC)                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Sale price $ 4,800               $ 3,300
v3.25.2
Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share [Abstract]        
Shareholders' net income $ 1,532 $ 1,548 $ 2,855 $ 1,271
Shares:        
Weighted average 266,181 281,133 268,511 283,799
Common stock equivalents 1,973 2,919 2,029 3,085
Total shares 268,154 284,052 270,540 286,884
Earnings per share, basic $ 5.76 $ 5.51 $ 10.63 $ 4.48
Earnings per share, effect of dilution (0.05) (0.06) (0.08) (0.05)
Earnings per share, diluted $ 5.71 $ 5.45 $ 10.55 $ 4.43
v3.25.2
Earnings Per Share - Anti-dilutive Options (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Employee Stock Options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive options 1.5 0.8 1.9 1.2
v3.25.2
Earnings Per Share - Shares of Common Stock Held in Treasury (Details) - shares
shares in Millions
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Earnings Per Share [Abstract]      
Shares of common stock held in treasury 137.4 128.7 122.5
v3.25.2
Debt - Debt Issuance and Debt Tender Offers (Details) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Debt Instrument [Line Items]    
Repayment of long-term debt $ 1,600,000,000 $ 3,000,000,000
$700 million, 5.685% Notes due 2026 | Senior Notes    
Debt Instrument [Line Items]    
Interest rate 5.685%  
Principal amount redeemed $ 700,000,000  
$900 million, 3.250% Notes due April 2025 | Senior Notes    
Debt Instrument [Line Items]    
Interest rate 3.25%  
Repayment of long-term debt $ 900,000,000  
v3.25.2
Debt - Revolving Credit Agreements (Details) - USD ($)
 1 Months Ended 6 Months Ended
Apr. 30, 2025
Jun. 30, 2025
Debt Instrument [Line Items]    
Commercial paper average interest rate   4.51%
Commercial Paper    
Debt Instrument [Line Items]    
Maximum borrowing capacity   $ 6,500,000,000
Commercial paper   1,200,000,000
Revolving Credit Agreements, April 2025    
Debt Instrument [Line Items]    
Outstanding balances   $ 0
Maximum borrowing capacity $ 6,500,000,000  
Credit agreement term 5 years  
Credit agreement extension term 1 year  
Aggregate amount of options to increase commitments $ 1,500,000,000  
Maximum total commitment $ 8,000,000,000.0  
Leverage ratio covenant 60.00%  
Revolving Credit Agreements, April 2025 | Letter of Credit    
Debt Instrument [Line Items]    
Maximum borrowing capacity $ 500,000,000  
v3.25.2
Debt - Interest Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Debt Disclosure [Abstract]        
Interest expense on long-term and short-term debt $ 338 $ 378 $ 700 $ 747
v3.25.2
Common and Preferred Stock - Dividends (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jul. 22, 2025
Jun. 18, 2025
Mar. 20, 2025
Jun. 20, 2024
Mar. 21, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Equity [Abstract]                  
Amount per share (in dollars per share)   $ 1.51 $ 1.51 $ 1.40 $ 1.40        
Total amount paid   $ 401 $ 412 $ 392 $ 401     $ 813 $ 793
Subsequent Event [Line Items]                  
Common dividends declared (in dollars per share)           $ 1.51 $ 1.40 $ 3.02 $ 2.80
Amount per share (in dollars per share)   $ 1.51 $ 1.51 $ 1.40 $ 1.40        
Total amount paid   $ 401 $ 412 $ 392 $ 401     $ 813 $ 793
Subsequent Event                  
Subsequent Event [Line Items]                  
Common dividends declared (in dollars per share) $ 1.51                
v3.25.2
Insurance and Contractholder Liabilities - Account Balances (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Current        
Market risk benefits, current $ 27 $ 25    
Unearned premiums, current 697      
Current insurance and contractholder liabilities 6,015 5,388    
Non-current        
Market risk benefits, non-current 740 760    
Unearned premiums, non-current 45      
Non-current insurance and contractholder liabilities 10,157 10,254    
Total        
Market risk benefits 767 785 $ 865  
Unearned premiums 742      
Total insurance and contractholder liabilities 16,172 15,642 16,065  
Cigna Healthcare        
Current        
Unpaid claims and claim expenses, current 4,577      
Future policy benefits, current 38      
Contractholder deposit funds, current 0      
Non-current        
Unpaid claims and claim expenses, non-current 59      
Future policy benefits, non-current 154      
Contractholder deposit funds, non-current 0      
Total        
Unpaid claims and claim expenses 4,636      
Total liability for future policy benefits 192      
Contractholder deposit funds 0      
Other        
Current        
Unpaid claims and claim expenses, current 169 147    
Non-current        
Unpaid claims and claim expenses, non-current 186 144    
Total        
Unpaid claims and claim expenses 355 291 316  
Other Operations        
Current        
Future policy benefits, current 147 157    
Contractholder deposit funds, current 360 366    
Non-current        
Future policy benefits, non-current 3,145 3,140    
Contractholder deposit funds, non-current 5,828 5,958    
Total        
Total liability for future policy benefits 3,292 3,297 3,362  
Contractholder deposit funds $ 6,188 $ 6,324 $ 6,381 $ 6,500
v3.25.2
Insurance and Contractholder Liabilities - Account Balances including Disposal Groups (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Current        
Market risk benefits, current $ 27 $ 25    
Unearned premiums, current, including held for sale liabilities   753    
Total, including held for sale liabilities, current   6,480    
Current insurance and contractholder liabilities 6,015 5,388    
Non-current        
Market risk benefits, non-current 740 760    
Unearned premiums, non-current, including held for sale liabilities   31    
Total, including liabilities held for sale, non-current   10,741    
Non-current insurance and contractholder liabilities 10,157 10,254    
Total        
Market risk benefits 767 785 $ 865  
Unearned premiums, including held for sale liabilities   784 765  
Total, including held for sale liabilities   17,221 17,622  
Total insurance and contractholder liabilities $ 16,172 15,642 16,065  
Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses        
Current        
Insurance and contractholder liabilities current, classified as held for sale   (1,092)    
Non-current        
Insurance and contractholder liabilities, non-current, classified as held for sale   (487)    
Total        
Insurance and contractholder liabilities classified as held for sale   (1,579) (1,557)  
Unpaid claims classified as liabilities of business held for sale       $ 823
Cigna Healthcare        
Current        
Unpaid claims and claim expenses, current, including held for sale liabilities   4,932    
Future policy benefits, current, including held for sale liabilities   91    
Contractholder deposit funds, current, including held for sale liabilities   9    
Non-current        
Unpaid claims and claim expenses, non-current, including held for sale liabilities   86    
Future policy benefits, non-current, including held for sale liabilities   507    
Contractholder deposit funds, non-current, including liabilities held for sale   115    
Total        
Unpaid claims and claim expenses, including held for sale liabilities   5,018 5,202 $ 5,092
Future policy benefits, including held for sale liabilities   598 596  
Contractholder deposit funds, including liabilities held for sale   124 135  
Cigna Healthcare | Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses        
Total        
Unpaid claims classified as liabilities of business held for sale   983 900  
Future policy benefits classified as liabilities of business held for sale   408 417  
Unearned premiums classified as liabilities of business held for sale   85 129  
Contractholder deposit funds classified as liabilities held for sale   $ 103 $ 111  
v3.25.2
Insurance and Contractholder Liabilities - Unpaid Claims and Claim Expenses - Cigna Healthcare - Activity (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses        
Paid costs related to:        
Unpaid claims classified as liabilities of business held for sale       $ 823
Cigna Healthcare        
Liability for Claims and Claims Adjustment Expense [Line Items]        
Total of incurred but not reported liabilities plus expected claim development on reported claims and reported claims in process $ 4,500 $ 4,800    
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]        
Beginning balance, including held for sale liabilities 5,018 5,092    
Less: Reinsurance, including held for sale liabilities 159 236    
Beginning balance, net, including held for sale liabilities 4,859 4,856    
Incurred costs related to:        
Current year 18,163 18,821    
Prior years (297) (284)    
Total incurred 17,866 18,537    
Paid costs related to:        
Current year 13,019 14,397    
Prior years 3,889 3,960    
Total paid 16,908 18,357    
Less: Divestiture and other 1,323 0    
Ending balance, net 4,494      
Add: Reinsurance and other amounts recoverable 142      
Ending balance $ 4,636      
Ending balance, net, including held for sale liabilities   5,036    
Add: Reinsurance, including held for sale liabilities   166    
Ending balance, including held for sale liabilities   5,202    
Cigna Healthcare | Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses        
Paid costs related to:        
Unpaid claims classified as liabilities of business held for sale   $ 900 $ 983  
v3.25.2
Insurance and Contractholder Liabilities - Unpaid Claims and Claims Expenses - Cigna Healthcare - Variances in Incurred Costs Related to Prior Years' Unpaid Claims and Claims Expenses (Details) - Cigna Healthcare - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Abstract]    
Favorable (unfavorable) variance, amount $ 297 $ 284
Favorable (unfavorable) variance, percentage 0.80% 0.80%
Actual completion factors and other    
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Abstract]    
Favorable (unfavorable) variance, amount $ 170 $ 83
Favorable (unfavorable) variance, percentage 0.50% 0.20%
Medical cost trend    
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Abstract]    
Favorable (unfavorable) variance, amount $ 127 $ 201
Favorable (unfavorable) variance, percentage 0.30% 0.60%
v3.25.2
Insurance and Contractholder Liabilities - Future Policy Benefits - Interest Rates and Duration (Details) - Other Operations - Life and annuity insurance products
Jun. 30, 2025
Jun. 30, 2024
Insurance and Contractholder Liabilities [Line Items]    
Interest accretion rate 5.64% 5.64%
Current discount rate 5.27% 5.38%
Weighted average duration 10 years 7 months 6 days 11 years 2 months 12 days
v3.25.2
Insurance and Contractholder Liabilities - Future Policy Benefits - Present Values of Expected Premiums and Benefits (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cigna Healthcare        
Insurance and Contractholder Liabilities [Line Items]        
Liability for Future Policy Benefit, Expected Net Premium, Period Increase (Decrease)    
Liability for Future Policy Benefit, Expected Future Policy Benefit, Period Increase (Decrease)    
Other Operations        
Insurance and Contractholder Liabilities [Line Items]        
Deferred profit liability included in future policy benefits 353 372    
Future policy benefit, excluding deferred profit liability 2,900 3,000 $ 2,900 $ 3,200
Undiscounted expected future policy benefits 4,200 4,400    
Future policy benefits reserve, reinsurance recoverables $ 900 $ 900    
v3.25.2
Insurance and Contractholder Liabilities - Contractholder Deposit Funds (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Cigna Healthcare        
Insurance and Contractholder Liabilities [Line Items]        
Contractholder deposit funds $ 0      
Other Operations        
Insurance and Contractholder Liabilities [Line Items]        
Contractholder deposit funds $ 6,188 $ 6,324 $ 6,381 $ 6,500
Contractholder deposit fund liabilities, approximate percent reinsured externally 38.00%      
Weighted average crediting rate 3.22%   3.25%  
Net amount at risk $ 2,700   $ 2,900  
Cash surrender value $ 2,800   $ 2,800  
Other Operations | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0300 To 0400        
Insurance and Contractholder Liabilities [Line Items]        
Contractholder deposit funds not reinsured externally, percent with guaranteed interest rates of 0300 to 0400 99.00%   99.00%  
Contractholder deposit funds not reinsured externally $ 3,900   $ 4,000  
Other Operations | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0300 To 0400 | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate        
Insurance and Contractholder Liabilities [Line Items]        
Contractholder deposit funds not reinsured externally 1,200   1,100  
Other Operations | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0300 To 0400 | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150        
Insurance and Contractholder Liabilities [Line Items]        
Contractholder deposit funds not reinsured externally 1,100   1,200  
Other Operations | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0300 To 0400 | Policyholder Account Balance, Above Guaranteed Minimum Crediting Rate, Based On Greater Of Guaranteed Minimum Cash Value Or Actual Cash Value        
Insurance and Contractholder Liabilities [Line Items]        
Contractholder deposit funds not reinsured externally $ 1,600   $ 1,700  
Percentage with cash values at more than 110% of guaranteed cash value 90.00%   90.00%  
Other Operations | Minimum | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150        
Insurance and Contractholder Liabilities [Line Items]        
Basis points above guaranteed minimum crediting rate 0.0050   0.0050  
Other Operations | Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0300 To 0400        
Insurance and Contractholder Liabilities [Line Items]        
Guaranteed minimum credit rating 3.00%   3.00%  
Other Operations | Maximum | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150        
Insurance and Contractholder Liabilities [Line Items]        
Basis points above guaranteed minimum crediting rate 0.0150   0.0150  
Other Operations | Maximum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0300 To 0400        
Insurance and Contractholder Liabilities [Line Items]        
Guaranteed minimum credit rating 4.00%   4.00%  
v3.25.2
Insurance and Contractholder Liabilities - Market Risk Benefits (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Insurance Loss Reserves [Abstract]    
Annuitization election period 30 days  
Market Risk Benefit [Roll Forward]    
Balance, beginning of year $ 785 $ 1,003
Balance, beginning of year, before the effect of nonperformance risk (own credit risk) 838 1,085
Changes due to expected run-off (11) (6)
Changes due to capital markets versus expected (7) (133)
Changes due to policyholder behavior versus expected 3 (17)
Balance, end of period, before the effect of changes in nonperformance risk (own credit risk) 823 929
Nonperformance risk (own credit risk), end of period (56) (64)
Balance, end of period 767 865
Reinsured market risk benefit, end of period $ 822 $ 927
v3.25.2
Insurance and Contractholder Liabilities - Net Amount of Risk and Average Age of Contractholders (Details) - Variable Annuity - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Net Amount at Risk by Product and Guarantee [Line Items]    
Net amount at risk $ 1,236 $ 1,391
Average attained age of contractholders (weighted by exposure) 78 years 77 years 9 months 18 days
v3.25.2
Reinsurance - Reinsurance Recoverables (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2025
USD ($)
reinsurer
Jun. 30, 2024
USD ($)
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits $ 3,647  
Allowance for uncollectible reinsurance (30)  
Market risk benefits 822 $ 927
Total reinsurance recoverables 4,439  
Other Current Assets    
Ceded Credit Risk [Line Items]    
Total reinsurance recoverables 142  
Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 387  
Collateral provisions exist that may mitigate risk of credit loss    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 2,788  
No Collateral    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 472  
BBB+ equivalent and higher current ratings | Acquisition, disposition or run-off activities    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits $ 3,269  
Number of reinsurers | reinsurer 6  
BBB+ equivalent and higher current ratings | Acquisition, disposition or run-off activities | The Lincoln National Life Insurance Company And Lincoln Life And Annuity Of New York    
Ceded Credit Risk [Line Items]    
Number of reinsurers | reinsurer 2  
BBB+ equivalent and higher current ratings | Acquisition, disposition or run-off activities | The Lincoln National Life Insurance Company And Lincoln Life And Annuity Of New York | Reinsurer Concentration Risk | Reinsurance Recoverables, Gross, Acquisition Disposition Runoff Activities, Nationally Recognized Statistical Rating Organizations, BBB+ Or Higher    
Ceded Credit Risk [Line Items]    
Concentration percentage 75.00%  
BBB+ equivalent and higher current ratings | Acquisition, disposition or run-off activities | Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits $ 297  
BBB+ equivalent and higher current ratings | Acquisition, disposition or run-off activities | Collateral provisions exist that may mitigate risk of credit loss    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 2,771  
BBB+ equivalent and higher current ratings | Acquisition, disposition or run-off activities | No Collateral    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 201  
A- equivalent and higher current ratings | Ongoing operations    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 208  
A- equivalent and higher current ratings | Ongoing operations | Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 0  
A- equivalent and higher current ratings | Ongoing operations | Collateral provisions exist that may mitigate risk of credit loss    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 6  
A- equivalent and higher current ratings | Ongoing operations | No Collateral    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 202  
BBB- to BBB+ equivalent current credit ratings | Ongoing operations    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 65  
BBB- to BBB+ equivalent current credit ratings | Ongoing operations | Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 0  
BBB- to BBB+ equivalent current credit ratings | Ongoing operations | Collateral provisions exist that may mitigate risk of credit loss    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 0  
BBB- to BBB+ equivalent current credit ratings | Ongoing operations | No Collateral    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 65  
Not rated | Ongoing operations    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 98  
Not rated | Ongoing operations | Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 90  
Not rated | Ongoing operations | Collateral provisions exist that may mitigate risk of credit loss    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 5  
Not rated | Ongoing operations | No Collateral    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 3  
Not rated | Acquisition, disposition or run-off activities    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 7  
Not rated | Acquisition, disposition or run-off activities | Fair Value of Collateral Contractually Required to Meet or Exceed Carrying Value of Recoverable    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 0  
Not rated | Acquisition, disposition or run-off activities | Collateral provisions exist that may mitigate risk of credit loss    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits 6  
Not rated | Acquisition, disposition or run-off activities | No Collateral    
Ceded Credit Risk [Line Items]    
Reinsurance recoverables before market risk benefits $ 1  
v3.25.2
Reinsurance - Variable Annuity Reinsurance Agreement (Details) - Variable Annuity - Berkshire Hathway Life Insurance Company Of Nebraska - USD ($)
$ in Billions
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2013
Ceded Credit Risk [Line Items]    
Reinsurance, Reinsured Risk, Percentage   100.00%
Remaining overall limit under reinsurance agreement $ 3.0  
Secured | Market risk benefits reinsurance recoverable, including IBNR and outstanding claims, less premiums due | Collateralization risk    
Ceded Credit Risk [Line Items]    
Concentration percentage 100.00%  
v3.25.2
Investments - Investments by Category (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Schedule of Investments [Line Items]    
Current investments $ 813 $ 665
Long-term investments 15,662 15,128
Total investments 16,475 $ 15,793
Debt securities    
Schedule of Investments [Line Items]    
Current investments 443  
Long-term investments 7,946  
Total investments 8,389  
Equity securities    
Schedule of Investments [Line Items]    
Current investments 15  
Long-term investments 561  
Total investments 576  
Commercial mortgage loans    
Schedule of Investments [Line Items]    
Current investments 105  
Long-term investments 1,206  
Total investments 1,311  
Policy loans    
Schedule of Investments [Line Items]    
Current investments 0  
Long-term investments 1,117  
Total investments 1,117  
Other long-term investments    
Schedule of Investments [Line Items]    
Current investments 0  
Long-term investments 4,832  
Total investments 4,832  
Short-term investments    
Schedule of Investments [Line Items]    
Current investments 250  
Long-term investments 0  
Total investments $ 250  
v3.25.2
Investments - Investments by Category, Including Disposal Groups (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current    
Investments including held for sale assets   $ 748
Current investments $ 813 665
Long-term    
Investments including held for sale assets   16,489
Investments per Consolidated Balance Sheets 15,662 15,128
Total    
Investments including held for sale assets   17,237
Total investments 16,475 15,793
Held-for-Sale | Medicare Advantage and related Cigna Healthcare businesses    
Current    
Investments classified as assets of business held for sale   (83)
Long-term    
Investments classified as assets of business held for sale   (1,361)
Total    
Investments classified as assets of business held for sale   (1,444)
Debt securities    
Current    
Investments including held for sale assets   463
Current investments 443  
Long-term    
Investments including held for sale assets   8,960
Investments per Consolidated Balance Sheets 7,946  
Total    
Investments including held for sale assets   9,423
Total investments 8,389  
Equity securities    
Current    
Investments including held for sale assets   7
Current investments 15  
Long-term    
Investments including held for sale assets   554
Investments per Consolidated Balance Sheets 561  
Total    
Investments including held for sale assets   561
Total investments 576  
Commercial mortgage loans    
Current    
Investments including held for sale assets   108
Current investments 105  
Long-term    
Investments including held for sale assets   1,243
Investments per Consolidated Balance Sheets 1,206  
Total    
Investments including held for sale assets   1,351
Total investments 1,311  
Policy loans    
Current    
Investments including held for sale assets   0
Current investments 0  
Long-term    
Investments including held for sale assets   1,156
Investments per Consolidated Balance Sheets 1,117  
Total    
Investments including held for sale assets   1,156
Total investments 1,117  
Other long-term investments    
Current    
Investments including held for sale assets   0
Current investments 0  
Long-term    
Investments including held for sale assets   4,576
Investments per Consolidated Balance Sheets 4,832  
Total    
Investments including held for sale assets   4,576
Total investments 4,832  
Short-term investments    
Current    
Investments including held for sale assets   170
Current investments 250  
Long-term    
Investments including held for sale assets   0
Investments per Consolidated Balance Sheets 0  
Total    
Investments including held for sale assets   $ 170
Total investments $ 250  
v3.25.2
Investments - Debt Securities by Contractual Maturity Periods (Details)
$ in Millions
Jun. 30, 2025
USD ($)
Amortized Cost  
Due in one year or less $ 620
Due after one year through five years 3,587
Due after five years through ten years 2,280
Due after ten years 2,033
Mortgage and other asset-backed securities 277
Total 8,797
Fair Value  
Due in one year or less 543
Due after one year through five years 3,556
Due after five years through ten years 2,203
Due after ten years 1,838
Mortgage and other asset-backed securities 249
Total $ 8,389
v3.25.2
Investments - Gross Unrealized Appreciation (Depreciation) on Debt Securities by Type of Issuer (Details)
$ in Millions
Jun. 30, 2025
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost $ 8,797
Allowance for Credit Loss (124)
Unrealized Appreciation 172
Unrealized Depreciation (456)
Fair Value 8,389
Federal government and agency  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 212
Allowance for Credit Loss 0
Unrealized Appreciation 16
Unrealized Depreciation (4)
Fair Value 224
State and local government  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 24
Allowance for Credit Loss 0
Unrealized Appreciation 0
Unrealized Depreciation 0
Fair Value 24
Foreign government  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 399
Allowance for Credit Loss 0
Unrealized Appreciation 10
Unrealized Depreciation (8)
Fair Value 401
Corporate  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 7,885
Allowance for Credit Loss (124)
Unrealized Appreciation 145
Unrealized Depreciation (415)
Fair Value 7,491
Mortgage and other asset-backed  
Debt Securities, Available-for-sale [Line Items]  
Amortized Cost 277
Allowance for Credit Loss 0
Unrealized Appreciation 1
Unrealized Depreciation (29)
Fair Value $ 249
v3.25.2
Investments - Gross Unrealized Appreciation (Depreciation) on Debt Securities by Type of Issuer, Including Disposal Groups (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Amortized cost, including held for sale assets $ 10,125
Allowance for Credit Loss, including held for sale assets (111)
Unrealized Appreciation, including held for sale assets 123
Unrealized Depreciation, including held for sale assets (714)
Fair Value, including held for sale assets 9,423
Federal government and agency  
Debt Securities, Available-for-sale [Line Items]  
Amortized cost, including held for sale assets 276
Allowance for Credit Loss, including held for sale assets 0
Unrealized Appreciation, including held for sale assets 14
Unrealized Depreciation, including held for sale assets (9)
Fair Value, including held for sale assets 281
State and local government  
Debt Securities, Available-for-sale [Line Items]  
Amortized cost, including held for sale assets 37
Allowance for Credit Loss, including held for sale assets 0
Unrealized Appreciation, including held for sale assets 1
Unrealized Depreciation, including held for sale assets (1)
Fair Value, including held for sale assets 37
Foreign government  
Debt Securities, Available-for-sale [Line Items]  
Amortized cost, including held for sale assets 350
Allowance for Credit Loss, including held for sale assets 0
Unrealized Appreciation, including held for sale assets 5
Unrealized Depreciation, including held for sale assets (11)
Fair Value, including held for sale assets 344
Corporate  
Debt Securities, Available-for-sale [Line Items]  
Amortized cost, including held for sale assets 9,091
Allowance for Credit Loss, including held for sale assets (111)
Unrealized Appreciation, including held for sale assets 102
Unrealized Depreciation, including held for sale assets (659)
Fair Value, including held for sale assets 8,423
Mortgage and other asset-backed  
Debt Securities, Available-for-sale [Line Items]  
Amortized cost, including held for sale assets 371
Allowance for Credit Loss, including held for sale assets 0
Unrealized Appreciation, including held for sale assets 1
Unrealized Depreciation, including held for sale assets (34)
Fair Value, including held for sale assets $ 338
v3.25.2
Investments - Summary of Debt Securities with a Decline in Fair Value (Details)
$ in Millions
Jun. 30, 2025
USD ($)
position
Total  
Fair Value $ 4,250
Total Amortized Cost 4,706
Unrealized Depreciation $ (456)
Number of Issues | position 1,560
Investment grade | Debt securities  
One year or less  
Fair Value $ 452
Amortized Cost 456
Unrealized Depreciation $ (4)
Number of Issues | position 187
More than one year  
Fair Value $ 3,505
Amortized Cost 3,924
Unrealized Depreciation $ (419)
Number of Issues | position 984
Below investment grade | Debt securities  
One year or less  
Fair Value $ 74
Amortized Cost 78
Unrealized Depreciation $ (4)
Number of Issues | position 308
More than one year  
Fair Value $ 219
Amortized Cost 248
Unrealized Depreciation $ (29)
Number of Issues | position 81
v3.25.2
Investments - Debt Securities with a Decline in Fair Value, Including Disposal Groups (Details)
$ in Millions
Dec. 31, 2024
USD ($)
position
Total  
Total Fair Value, including held for sale assets $ 6,551
Total Amortized Cost, including held for sale assets 7,265
Total Unrealized Depreciation, including held for sale assets $ (714)
Total Number of Issues, including held for sale assets | position 2,704
Investment grade | Debt securities  
One year or less  
Fair Value, including held for sale assets $ 1,203
Amortized Cost, including held for sale assets 1,227
Unrealized Depreciation, including held for sale assets $ (24)
Number of Issues, including held for sale assets | position 545
More than one year  
Fair Value, including held for sale assets $ 4,687
Amortized Cost, including held for sale assets 5,319
Unrealized Depreciation, including held for sale assets $ (632)
Number of Issues, including held for sale assets | position 1,297
Below investment grade | Debt securities  
One year or less  
Fair Value, including held for sale assets $ 245
Amortized Cost, including held for sale assets 250
Unrealized Depreciation, including held for sale assets $ (5)
Number of Issues, including held for sale assets | position 739
More than one year  
Fair Value, including held for sale assets $ 416
Amortized Cost, including held for sale assets 469
Unrealized Depreciation, including held for sale assets $ (53)
Number of Issues, including held for sale assets | position 123
v3.25.2
Investments - Equity Securities (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2025
Dec. 31, 2024
Cost      
Equity securities with readily determinable fair values   $ 639 $ 635
Equity securities with no readily determinable fair value   3,218 3,215
Total   3,857 3,850
Carrying Value      
Equity securities with readily determinable fair values   118 37
Equity securities with no readily determinable fair value   458 524
Total   $ 576 $ 561
VillageMD      
Carrying Value      
Amount of impairments or value changes resulting from observable price changes on equity securities with no readily available fair value still held $ 1,800    
v3.25.2
Investments - Commercial Mortgage Loans (Details) - Real Estate Loan - Commercial Portfolio Segment
$ in Millions
 6 Months Ended
Jun. 30, 2025
USD ($)
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss $ 1,311
Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio 1.69
Average Loan-to-Value Ratio 70.00%
Below 60%  
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss $ 422
Below 60% | Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio 2.02
60% to 79%  
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss $ 704
60% to 79% | Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio 1.77
80% to 100%  
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss $ 185
80% to 100% | Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio 0.83
v3.25.2
Investments - Commercial Mortgage Loans, Including Disposal Groups (Details) - Real Estate Loan - Commercial Portfolio Segment
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss, including assets held for sale $ 1,351
Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio, including assets held for sale 1.70
Average Loan-to-Value Ratio, including assets held for sale 0.69
Below 60%  
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss, including assets held for sale $ 547
Below 60% | Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio, including assets held for sale 2.07
60% to 79%  
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss, including assets held for sale $ 595
60% to 79% | Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio, including assets held for sale 1.83
80% to 100%  
Schedule of Investments [Line Items]  
Carrying value, after allowance for credit loss, including assets held for sale $ 209
80% to 100% | Weighted Average  
Schedule of Investments [Line Items]  
Average Debt Service Coverage Ratio, including assets held for sale 0.51
v3.25.2
Investments - Other Long-Term Investments (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Schedule of Investments [Line Items]    
Other long-term investments $ 4,832  
Real estate investments    
Schedule of Investments [Line Items]    
Other long-term investments 1,866 $ 1,763
Securities partnerships    
Schedule of Investments [Line Items]    
Other long-term investments 2,781 $ 2,587
Other    
Schedule of Investments [Line Items]    
Other long-term investments $ 185  
v3.25.2
Investments - Other Long-Term Investments, Including Disposal Groups (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Schedule of Investments [Line Items]  
Other long term investments, including held for sale assets $ 4,576
Other  
Schedule of Investments [Line Items]  
Other long term investments, including held for sale assets $ 226
v3.25.2
Investments - Derivative Financial Instruments (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivative gain (loss) reclassified from other comprehensive income into shareholders' net income
Derivative gain (loss) recognized in other comprehensive income
Derivative gain (loss) recognized in the income statement
Designated as Hedging Instrument | Fair Value Hedging | Fair value hedge - Interest rate swap contracts    
Derivative [Line Items]    
Notional Value $ 2,600 $ 2,700
v3.25.2
Investments - Investment Gains and Losses (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Investments [Abstract]        
Net investment gains (losses), before income taxes $ 52 $ (48) $ 50 $ (1,884)
v3.25.2
Fair Value Measurements - Financial Assets and Liabilities Carried at Fair Value (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Financial assets at fair value:    
Equity securities $ 118 $ 37
Recurring    
Financial assets at fair value:    
Debt Securities 8,389  
Equity securities 118 37
Short-term investments 250 170
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Debt Securities 105  
Equity securities 63 1
Short-term investments 0 0
Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Debt Securities 7,924  
Equity securities 53 36
Short-term investments 250 170
Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Debt Securities 360  
Equity securities 2 0
Short-term investments 0 0
Federal government and agency | Recurring    
Financial assets at fair value:    
Debt Securities 224  
Federal government and agency | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Debt Securities 105  
Federal government and agency | Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Debt Securities 119  
Federal government and agency | Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
State and local government | Recurring    
Financial assets at fair value:    
Debt Securities 24  
State and local government | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
State and local government | Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Debt Securities 24  
State and local government | Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
Foreign government | Recurring    
Financial assets at fair value:    
Debt Securities 401  
Foreign government | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
Foreign government | Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Debt Securities 401  
Foreign government | Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
Corporate | Recurring    
Financial assets at fair value:    
Debt Securities 7,491  
Corporate | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
Corporate | Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Debt Securities 7,171  
Corporate | Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Debt Securities 320  
Mortgage and other asset-backed | Recurring    
Financial assets at fair value:    
Debt Securities 249  
Mortgage and other asset-backed | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Debt Securities 0  
Mortgage and other asset-backed | Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Debt Securities 209  
Mortgage and other asset-backed | Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Debt Securities 40  
Derivatives | Recurring    
Financial assets at fair value:    
Derivative assets 64 168
Liabilities, Fair Value Disclosure [Abstract]    
Derivative liabilities 30 1
Derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring    
Financial assets at fair value:    
Derivative assets 0 0
Liabilities, Fair Value Disclosure [Abstract]    
Derivative liabilities 0 0
Derivatives | Significant Other Observable Inputs (Level 2) | Recurring    
Financial assets at fair value:    
Derivative assets 64 168
Liabilities, Fair Value Disclosure [Abstract]    
Derivative liabilities 30 1
Derivatives | Significant Unobservable Inputs (Level 3) | Recurring    
Financial assets at fair value:    
Derivative assets 0 0
Liabilities, Fair Value Disclosure [Abstract]    
Derivative liabilities $ 0 $ 0
v3.25.2
Fair Value Measurements - Financial Assets and Liabilities Carried at Fair Value, Including Disposal Groups (Details) - Recurring
$ in Millions
Dec. 31, 2024
USD ($)
Financial assets at fair value:  
Debt Securities, including held for sale assets $ 9,423
Quoted Prices in Active Markets for Identical Assets (Level 1)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 165
Significant Other Observable Inputs (Level 2)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 8,841
Significant Unobservable Inputs (Level 3)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 417
Federal government and agency  
Financial assets at fair value:  
Debt Securities, including held for sale assets 281
Federal government and agency | Quoted Prices in Active Markets for Identical Assets (Level 1)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 165
Federal government and agency | Significant Other Observable Inputs (Level 2)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 116
Federal government and agency | Significant Unobservable Inputs (Level 3)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
State and local government  
Financial assets at fair value:  
Debt Securities, including held for sale assets 37
State and local government | Quoted Prices in Active Markets for Identical Assets (Level 1)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
State and local government | Significant Other Observable Inputs (Level 2)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 37
State and local government | Significant Unobservable Inputs (Level 3)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
Foreign government  
Financial assets at fair value:  
Debt Securities, including held for sale assets 344
Foreign government | Quoted Prices in Active Markets for Identical Assets (Level 1)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
Foreign government | Significant Other Observable Inputs (Level 2)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 344
Foreign government | Significant Unobservable Inputs (Level 3)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
Corporate  
Financial assets at fair value:  
Debt Securities, including held for sale assets 8,423
Corporate | Quoted Prices in Active Markets for Identical Assets (Level 1)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
Corporate | Significant Other Observable Inputs (Level 2)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 8,049
Corporate | Significant Unobservable Inputs (Level 3)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 374
Mortgage and other asset-backed  
Financial assets at fair value:  
Debt Securities, including held for sale assets 338
Mortgage and other asset-backed | Quoted Prices in Active Markets for Identical Assets (Level 1)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 0
Mortgage and other asset-backed | Significant Other Observable Inputs (Level 2)  
Financial assets at fair value:  
Debt Securities, including held for sale assets 295
Mortgage and other asset-backed | Significant Unobservable Inputs (Level 3)  
Financial assets at fair value:  
Debt Securities, including held for sale assets $ 43
v3.25.2
Fair Value Measurements - Quantitative Information About Unobservable Inputs (Details) - Recurring - Significant Unobservable Inputs (Level 3)
$ in Millions
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Debt securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 360  
Corporate | Securities Priced by the Company    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 319  
Corporate | Securities Priced by the Company | Minimum | Liquidity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Adjustment 0.0060  
Corporate | Securities Priced by the Company | Maximum | Liquidity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Adjustment 0.2020  
Corporate | Securities Priced by the Company | Weighted Average | Liquidity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Adjustment 0.0360  
Mortgage and other asset-backed securities | Securities Priced by the Company    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 40  
Mortgage and other asset-backed securities | Securities Priced by the Company | Minimum | Liquidity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Adjustment 0.0110  
Mortgage and other asset-backed securities | Securities Priced by the Company | Maximum | Liquidity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Adjustment 0.0660  
Mortgage and other asset-backed securities | Securities Priced by the Company | Weighted Average | Liquidity    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Unobservable Adjustment 0.0370  
Other debt securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Fair Value $ 1 $ 1
v3.25.2
Fair Value Measurements - Quantitative Information About Unobservable Inputs, Including Disposal Groups (Details) - Recurring - Significant Unobservable Inputs (Level 3)
$ in Millions
Dec. 31, 2024
USD ($)
Debt securities  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Fair Value, including held for sale assets $ 417
Corporate | Securities Priced by the Company  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Fair Value, including held for sale assets $ 373
Corporate | Securities Priced by the Company | Minimum | Liquidity  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Unobservable Adjustment, including held for sale assets 0.0060
Corporate | Securities Priced by the Company | Maximum | Liquidity  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Unobservable Adjustment, including held for sale assets 0.1520
Corporate | Securities Priced by the Company | Weighted Average | Liquidity  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Unobservable Adjustment, including held for sale assets 0.0370
Mortgage and other asset-backed securities | Securities Priced by the Company  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Fair Value, including held for sale assets $ 43
Mortgage and other asset-backed securities | Securities Priced by the Company | Minimum | Liquidity  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Unobservable Adjustment, including held for sale assets 0.0100
Mortgage and other asset-backed securities | Securities Priced by the Company | Maximum | Liquidity  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Unobservable Adjustment, including held for sale assets 0.0550
Mortgage and other asset-backed securities | Securities Priced by the Company | Weighted Average | Liquidity  
Fair Value Measurement Inputs and Valuation Techniques [Line Items]  
Unobservable Adjustment, including held for sale assets 0.0280
v3.25.2
Fair Value Measurements - Changes in Level 3 Financial Assets and Financial Liabilities Carried at Fair Value (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Transfers into / (out of) Level 3        
Change in unrealized gain or (loss) included in Other comprehensive loss for assets held at the end of the reporting period $ 4 $ (2) $ 7 $ (6)
Debt and Equity Securities        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 373      
Beginning balance, including held for sale assets   422 417 447
Losses included in Shareholders' net income (4) (40) (14) (61)
Gains (losses) included in Other comprehensive loss 3 (2) 10 (5)
Purchases, sales and settlements        
Purchases 25 11 27 11
Sales (2) 0 (2) 0
Settlements (49) (1) (80) (15)
Total purchases, sales and settlements (26) 10 (55) (4)
Transfers into / (out of) Level 3        
Transfers into Level 3 31 15 49 31
Transfers out of Level 3 (15) (8) (45) (11)
Total transfers into / (out of) Level 3 16 7 4 20
Ending balance 362   362  
Ending balance, including held for sale assets   397   397
Total losses included in Shareholders' net income attributable to instruments held at the reporting date $ (4) $ (41) $ (17) $ (61)
v3.25.2
Fair Value Measurements - Separate Accounts (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Guaranteed separate accounts $ 570   $ 570   $ 576
Non-guaranteed separate accounts 6,162   6,162   6,070
Subtotal 6,732   6,732   6,646
Non-guaranteed separate accounts priced at NAV as a practical expedient 641   641   632
Separate account assets 7,373   7,373   7,278
Separate Account Assets          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Separate accounts assets classified in Level 3, period increase (decrease), including transfers in and out of Level 3  
Pension Plans          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Non-guaranteed separate accounts 3,800   3,800   3,800
Quoted Prices in Active Markets for Identical Assets (Level 1)          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Guaranteed separate accounts 240   240   231
Non-guaranteed separate accounts 273   273   267
Subtotal 513   513   498
Significant Other Observable Inputs (Level 2)          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Guaranteed separate accounts 330   330   345
Non-guaranteed separate accounts 5,651   5,651   5,575
Subtotal 5,981   5,981   5,920
Significant Unobservable Inputs (Level 3)          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Guaranteed separate accounts 0   0   0
Non-guaranteed separate accounts 238   238   228
Subtotal 238   238   228
Significant Unobservable Inputs (Level 3) | Pension Plans          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Non-guaranteed separate accounts $ 200   $ 200   $ 200
v3.25.2
Fair Value Measurements - Assets and Liabilities Measured at Fair Value under Certain Conditions (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Equity Securities without Readily Determinable Fair Value, Amount $ 458   $ 524
Impairments requiring certain assets and liabilities to be measured at fair value    
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount  
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount  
VillageMD      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount   $ 1,800  
v3.25.2
Fair Value Measurements - Fair Value Disclosures for Financial Instruments Not Carried at Fair Value (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Fair Value | Significant Other Observable Inputs (Level 2)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt, including current maturities, excluding finance leases $ 27,419 $ 28,392
Fair Value | Significant Unobservable Inputs (Level 3)    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commercial mortgage loans 1,256 1,256
Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commercial mortgage loans 1,311 1,351
Long-term debt, including current maturities, excluding finance leases $ 29,503 $ 31,008
v3.25.2
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance $ 40,414 $ 41,350 $ 41,243 $ 46,244
Other comprehensive income (loss) (226) (118) (475) (578)
Balance 40,430 41,527 40,430 41,527
AOCI Attributable to Parent        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance (2,590) (2,324) (2,341) (1,864)
Other comprehensive income (loss) (226) (118) (475) (578)
Balance (2,816) (2,442) (2,816) (2,442)
Other Comprehensive Income (Loss), Tax [Abstract]        
Other Comprehensive Income (Loss), Tax 105 42 187 183
Securities and derivatives        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance 732 292 832 171
Other comprehensive income (loss) before reclassifications, after-tax 303 77 169 181
Net amounts reclassified from AOCI to net income 18 31 52 48
Other comprehensive income (loss) 321 108 221 229
Balance 1,053 400 1,053 400
Other Comprehensive Income (Loss), Tax [Abstract]        
Other comprehensive income (loss), before reclassifications, tax (93) (29) (44) (68)
Reclassification adjustment, tax (4) (8) (13) (13)
Net long-duration insurance and contractholder liabilities measurement adjustments        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance (2,206) (1,531) (2,038) (971)
Other comprehensive income (loss) (609) (212) (777) (772)
Balance (2,815) (1,743) (2,815) (1,743)
Change in discount rate for certain long-duration liabilities        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Other comprehensive income (loss) before reclassifications, after-tax (615) (212) (723) (758)
Net amounts reclassified from AOCI to net income 0 0 (56) 0
Other comprehensive income (loss) (615) (212) (779) (758)
Other Comprehensive Income (Loss), Tax [Abstract]        
Other comprehensive income (loss), before reclassifications, tax 205 76 238 262
Reclassification adjustment, tax 0 0 16 0
Other Comprehensive Income (Loss), Tax 205 76 254 262
Change in instrument-specific credit risk for market risk benefits        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Other comprehensive income (loss) before reclassifications, after-tax 6 0 2 (14)
Other Comprehensive Income (Loss), Tax [Abstract]        
Other comprehensive income (loss), before reclassifications, tax (2) 0 (1) 4
Translation of foreign currencies        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance (185) (175) (198) (149)
Other comprehensive income (loss) before reclassifications, after-tax 65 (5) 78 (31)
Balance (120) (180) (120) (180)
Other Comprehensive Income (Loss), Tax [Abstract]        
Other comprehensive income (loss), before reclassifications, tax (2) (1) (8) (3)
Postretirement benefits liability        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Balance (931) (910) (937) (915)
Other comprehensive income (loss) before reclassifications, after-tax (9) (16) (9) (16)
Net amounts reclassified from AOCI to net income 6 7 12 12
Other comprehensive income (loss) (3) (9) 3 (4)
Balance (934) (919) (934) (919)
Other Comprehensive Income (Loss), Tax [Abstract]        
Other comprehensive income (loss), before reclassifications, tax 3 4 3 4
Reclassification adjustment, tax $ (2) $ 0 $ (4) $ (3)
v3.25.2
Strategic Optimization Program (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Restructuring Reserve [Roll Forward]        
Restructuring costs $ 129 $ 0 $ 344 $ 0
Strategic optimization program costs, after-tax 98 $ 0 261 $ 0
Employee severance and other restructuring        
Restructuring Reserve [Roll Forward]        
Restructuring costs 88   286  
Employee severance        
Restructuring Reserve [Roll Forward]        
Restructuring Reserve, Beginning Balance     0  
Restructuring costs     194  
Payments     (78)  
Restructuring Reserve, Ending Balance $ 116   $ 116  
v3.25.2
Income Taxes - Narrative (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Tax Disclosure [Abstract]        
Consolidated effective tax rate 19.20% 18.10% 17.10% 31.50%
v3.25.2
Income Taxes - Valuation Allowances (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Valuation Allowance [Line Items]    
Deferred tax assets, impairment of equity securities and other unrealized investment losses. $ 847  
Impairment of equity securities    
Valuation Allowance [Line Items]    
Deferred tax assets, valuation allowance $ 636 $ 422
v3.25.2
Contingencies and Other Matters (Details)
 6 Months Ended
Jun. 30, 2025
USD ($)
Guaranty Fund Assessments  
Commitments And Contingencies [Line Items]  
Loss contingency accrual provision
Indemnification obligations  
Commitments And Contingencies [Line Items]  
Liability for guarantees 0
Retiree and Life Insurance Benefits | Financial Guarantees  
Commitments And Contingencies [Line Items]  
Maximum guarantee exposure 400,000,000
Assets maintained by employers (minimum) 400,000,000
Liability for guarantees $ 0
v3.25.2
Segment Information - Special Item Charges (Benefits) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Pre-tax        
Strategic optimization program (largely Selling, general and administrative expenses) $ 129 $ 0 $ 344 $ 0
Integration and transaction-related costs (Selling, general and administrative expenses) 74 63 290 100
(Gain) loss on sale of businesses 0 0 (41) 19
Deferred tax expenses, net (Income taxes, less amount attributable to noncontrolling interests) 0 0 0 0
Total impact from special items 203 63 593 119
After-tax        
Strategic optimization program (largely Selling, general and administrative expenses) 98 0 261 0
Integration and transaction-related costs (Selling, general and administrative expenses) 56 47 220 76
(Gain) loss on sale of businesses 0 0 (115) (43)
Deferred tax expenses, net (Income taxes, less amount attributable to noncontrolling interests) 17 17 34 34
Total impact from special items $ 171 $ 64 $ 400 $ 67
v3.25.2
Segment Information - Summarized Segment Financial Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Revenues from customers $ 66,942 $ 60,202 $ 132,206 $ 117,167
Net investment income (loss) 236 321 474 611
TOTAL REVENUES 67,178 60,523 132,680 117,778
Net investment results from certain equity method investments (44) (53) (94) (61)
Adjusted revenues 67,134 60,470 132,586 117,717
Pharmacy and other service costs 53,268 44,492 101,666 85,923
Medical costs and other benefit expenses 7,749 9,515 18,247 18,955
Interest expense and other (337) (375) (699) (697)
Pre-tax adjusted income (loss) from operations 2,433 2,372 4,743 4,681
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 2,021 1,989 3,669 2,068
Pre-tax adjustments to reconcile to adjusted income from operations        
(Income) loss attributable to noncontrolling interests (117) (95) (219) (172)
Net realized investment (gains) losses (96) (5) (144) 1,823
Amortization of acquired intangible assets 422 420 844 843
Special items        
Integration and transaction-related costs 74 63 290 100
Restructuring costs 129 0 344 0
(Gain) loss on sale of businesses 0 0 (41) 19
Deferred tax expenses 0 0 0 0
Pre-tax adjusted income (loss) from operations 2,433 2,372 4,743 4,681
Depreciation and amortization 682 738 1,356 1,479
Evernorth Health Services        
Segment Reporting Information [Line Items]        
Revenues from customers 57,486 48,251 109,488 93,137
Cigna Healthcare        
Segment Reporting Information [Line Items]        
Revenues from customers 9,358 11,821 22,526 23,833
Other Operations        
Segment Reporting Information [Line Items]        
Revenues from customers 98 130 192 196
Operating Segments | Evernorth Health Services        
Segment Reporting Information [Line Items]        
Net investment income (loss) 31 65 62 124
TOTAL REVENUES 57,825 49,548 111,506 95,774
Net investment results from certain equity method investments 0 0 0 0
Adjusted revenues 57,825 49,548 111,506 95,774
Pharmacy and other service costs 54,939 46,852 106,060 90,690
Medical costs and other benefit expenses 0 0 0 0
Selling, general and administrative expenses 1,074 980 2,098 1,931
Interest expense and other 1 (2) 1 (2)
Less: Income attributable to noncontrolling interests 117 95 219 172
Pre-tax adjusted income (loss) from operations 1,696 1,619 3,130 2,979
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,430 1,299 2,538 863
Pre-tax adjustments to reconcile to adjusted income from operations        
(Income) loss attributable to noncontrolling interests (117) (95) (219) (172)
Net realized investment (gains) losses (80) (1) (84) 1,455
Amortization of acquired intangible assets 416 416 831 833
Special items        
Integration and transaction-related costs 0 0 0 0
Restructuring costs 47   68  
(Gain) loss on sale of businesses     (4) 0
Pre-tax adjusted income (loss) from operations 1,696 1,619 3,130 2,979
Depreciation and amortization 587 614 1,171 1,220
Operating Segments | Cigna Healthcare        
Segment Reporting Information [Line Items]        
Net investment income (loss) 127 172 260 321
TOTAL REVENUES 10,798 13,196 25,330 26,481
Net investment results from certain equity method investments (44) (53) (94) (61)
Adjusted revenues 10,754 13,143 25,236 26,420
Pharmacy and other service costs 0 0 0 0
Medical costs and other benefit expenses 7,482 9,312 17,867 18,531
Selling, general and administrative expenses 2,180 2,629 4,992 5,349
Interest expense and other 2 2 4 4
Less: Income attributable to noncontrolling interests 0 0 0 0
Pre-tax adjusted income (loss) from operations 1,094 1,204 2,381 2,544
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,098 1,205 2,462 2,148
Pre-tax adjustments to reconcile to adjusted income from operations        
(Income) loss attributable to noncontrolling interests 0 0 0 0
Net realized investment (gains) losses (20) (5) (67) 367
Amortization of acquired intangible assets 6 4 13 10
Special items        
Integration and transaction-related costs 0 0 0 0
Restructuring costs 10   10  
(Gain) loss on sale of businesses     (37) 19
Pre-tax adjusted income (loss) from operations 1,094 1,204 2,381 2,544
Depreciation and amortization 81 113 164 237
Operating Segments | Other Operations        
Segment Reporting Information [Line Items]        
Net investment income (loss) 73 77 142 152
TOTAL REVENUES 184 227 359 393
Net investment results from certain equity method investments 0 0 0 0
Adjusted revenues 184 227 359 393
Pre-tax adjusted income (loss) from operations 25 (16) 25 2
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (20) (17) (40) 1
Pre-tax adjustments to reconcile to adjusted income from operations        
(Income) loss attributable to noncontrolling interests 0 0 0 0
Net realized investment (gains) losses 4 1 7 1
Amortization of acquired intangible assets 0 0 0 0
Special items        
Integration and transaction-related costs 0 0 0 0
Restructuring costs 41   58  
(Gain) loss on sale of businesses     0 0
Pre-tax adjusted income (loss) from operations 25 (16) 25 2
Depreciation and amortization 9 2 11 3
Corporate and Eliminations        
Segment Reporting Information [Line Items]        
TOTAL REVENUES (1,629) (2,448) (4,515) (4,870)
Adjusted revenues (1,629) (2,448) (4,515) (4,870)
Special items        
Depreciation and amortization 5 9 10 19
Corporate        
Segment Reporting Information [Line Items]        
Revenues from customers 0 0 0 1
Net investment income (loss) 5 7 10 14
Net investment results from certain equity method investments 0 0 0 0
Pre-tax adjusted income (loss) from operations (382) (435) (793) (844)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (487) (498) (1,291) (944)
Pre-tax adjustments to reconcile to adjusted income from operations        
(Income) loss attributable to noncontrolling interests 0 0 0 0
Net realized investment (gains) losses 0 0 0 0
Amortization of acquired intangible assets 0 0 0 0
Special items        
Integration and transaction-related costs 74 63 290 100
Restructuring costs 31   208  
(Gain) loss on sale of businesses     0 0
Pre-tax adjusted income (loss) from operations (382) (435) (793) (844)
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Revenues from customers (1,634) (2,455) (4,525) (4,885)
Intersegment Eliminations | Evernorth Health Services        
Segment Reporting Information [Line Items]        
Revenues from customers (308) (1,232) (1,956) (2,513)
Intersegment Eliminations | Cigna Healthcare        
Segment Reporting Information [Line Items]        
Revenues from customers (1,313) (1,203) (2,544) (2,327)
Intersegment Eliminations | Other Operations        
Segment Reporting Information [Line Items]        
Revenues from customers $ (13) $ (20) $ (25) $ (45)
v3.25.2
Segment Information - Revenue from External Customers (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue from External Customer [Line Items]        
Premiums $ 9,156 $ 11,454 $ 21,892 $ 23,057
Total revenues from external customers 66,942 60,202 132,206 117,167
Pharmacy revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 53,649 45,101 102,282 87,137
Service        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 4,137 3,647 8,032 6,973
Service, Fees And Other Revenues [Member]        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 4,137 3,647 8,032 6,973
Other revenue        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 114 152 276 242
Evernorth Health Services        
Revenue from External Customer [Line Items]        
Total revenues from external customers 57,486 48,251 109,488 93,137
Cigna Healthcare        
Revenue from External Customer [Line Items]        
Total revenues from external customers 9,358 11,821 22,526 23,833
Other Operations        
Revenue from External Customer [Line Items]        
Total revenues from external customers 98 130 192 196
Operating Segments | Evernorth Health Services | Pharmacy revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 53,989 46,190 104,215 89,360
Operating Segments | Evernorth Health Services | Network revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 30,582 25,276 58,794 49,442
Operating Segments | Evernorth Health Services | Home delivery and specialty revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 19,974 18,017 38,911 34,475
Operating Segments | Evernorth Health Services | Other revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 3,433 2,897 6,510 5,443
Operating Segments | Evernorth Health Services | Service, Fees And Other Revenues [Member]        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 3,805 3,293 7,229 6,290
Operating Segments | Cigna Healthcare        
Revenue from External Customer [Line Items]        
Premiums 8,992 11,308 21,620 22,839
Operating Segments | Cigna Healthcare | Service, Fees And Other Revenues [Member]        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 1,679 1,716 3,450 3,321
Operating Segments | Cigna Healthcare | U.S. Healthcare        
Revenue from External Customer [Line Items]        
Premiums 7,966 10,417 19,616 21,063
Operating Segments | Cigna Healthcare | U.S. Healthcare | Employer insured        
Revenue from External Customer [Line Items]        
Premiums 4,684 4,350 9,372 8,743
Operating Segments | Cigna Healthcare | U.S. Healthcare | Medicare Advantage        
Revenue from External Customer [Line Items]        
Premiums 0 2,207 2,363 4,494
Operating Segments | Cigna Healthcare | U.S. Healthcare | Stop loss        
Revenue from External Customer [Line Items]        
Premiums 1,879 1,665 3,747 3,333
Operating Segments | Cigna Healthcare | U.S. Healthcare | Individual and Family Plans        
Revenue from External Customer [Line Items]        
Premiums 941 975 1,800 2,015
Operating Segments | Cigna Healthcare | U.S. Healthcare | Other        
Revenue from External Customer [Line Items]        
Premiums 462 1,220 2,334 2,478
Operating Segments | Cigna Healthcare | International Health        
Revenue from External Customer [Line Items]        
Premiums 1,026 891 2,004 1,776
Operating Segments | Other Operations        
Revenue from External Customer [Line Items]        
Premiums 78 115 159 163
Operating Segments | Other Operations | Pharmacy revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 14 16 27 33
Operating Segments | Other Operations | Service, Fees And Other Revenues [Member]        
Revenue from External Customer [Line Items]        
Revenue from contract with customer 19 19 31 45
Corporate and Eliminations        
Revenue from External Customer [Line Items]        
Premiums 86 31 113 55
Corporate and Eliminations | Pharmacy revenues        
Revenue from External Customer [Line Items]        
Revenue from contract with customer (354) (1,105) (1,960) (2,256)
Corporate and Eliminations | Service, Fees And Other Revenues [Member]        
Revenue from External Customer [Line Items]        
Revenue from contract with customer (1,366) (1,381) (2,678) (2,683)
Corporate        
Revenue from External Customer [Line Items]        
Total revenues from external customers 0 0 0 1
Intersegment Eliminations        
Revenue from External Customer [Line Items]        
Total revenues from external customers (1,634) (2,455) (4,525) (4,885)
Intersegment Eliminations | Evernorth Health Services        
Revenue from External Customer [Line Items]        
Total revenues from external customers (308) (1,232) (1,956) (2,513)
Intersegment Eliminations | Cigna Healthcare        
Revenue from External Customer [Line Items]        
Total revenues from external customers (1,313) (1,203) (2,544) (2,327)
Intersegment Eliminations | Other Operations        
Revenue from External Customer [Line Items]        
Total revenues from external customers $ (13) $ (20) $ (25) $ (45)
v3.25.2
Segment Information - Financial and Performance Guarantees (Details) - USD ($)
$ in Billions
Jun. 30, 2025
Dec. 31, 2024
Evernorth Health Services | Financial and performance guarantees    
Loss Contingencies [Line Items]    
Guarantee liability $ 1.4 $ 1.9