Company: CI
Filing Date: 2025-01-16
Form Type: CORRESP
Source: 0001739940-25-000005
Chunk: 6

Company: Cigna Group
Filing Date: 2025-01-16
Form: CORRESP
Chunk 6
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#### 2.
We note your response to prior comment 6 regarding your aggregation of U.S. Healthcare and International Healthcare operating segments. Please address the following:

#### •

Your response indicates the historical margins (i.e., pre-tax adjusted income from operations divided by total adjusted revenues) for these operating segments have ranged from the high single digits to the low double digits, and U.S. Healthcare has generally performed at the higher end of that range relative to International Health while management expects further margin convergence over the long term. Please provide us with the actual margins for each of these two operating segments in historical periods presented in your financial statements and explain how you analyzed the similarity of the long-term average margins, including when you expect convergence to occur over the long-term. As part of your response, please include your consideration of the implementation guidance in ASC 280-10-55-7A.

#### •

We also note your response indicates that variations in the financial performance of the two operating segments are expected due to factors such as the type of products offered, local regulatory capital requirements, and customer location and demographics. In addition to the economic similarity, please explain how you considered this variation in your analysis of the qualitative factors in ASC 280-10-50-11a to 11e.

We acknowledge the Staff's comment requesting additional analysis of management's conclusions related to Cigna Healthcare's operating segments' similar long-term financial performance expectations in accordance with ASC 280-10-50-11 and ASC 280-10-55-7A and how these determinations led to our decision to aggregate the U.S. Healthcare and International Health operating segments into one reportable segment.

#### Operating Segment Pre-Tax Margin
As noted in response to comment 1 above, pre-tax margin is a key metric used by our chief operating decision maker in assessing each operating segment's performance and is calculated as pre-tax adjusted income from operations divided by total adjusted revenues. Actual historical margins for the U.S. Healthcare and International Health operating segments for the periods presented in the 2023 Form 10-K and Form 10-Q's for the quarterly periods ended March 31, June 30, and September 30, 2024 we re as follows:

<div align='center'>5</div>

O ur analysis of the similarity of the operating segments' margins considered historical, current and forecasted performance over a multi-year period. For the current and historical periods analyzed, our analysis demonstrated a tight range of actual margins within the high single to