Company: CI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001739940-25-000009
Chunk: 1021

Company: Cigna Group
Filing Date: 2025-02-27
Form: 10-K
Item: Item 3
Chunk 1021
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 and Care Services:

•Customer growth generally results in increased revenues and income from operations. This generally includes both organic customer growth through the expansion of existing business and new business, as well as higher volume in our specialty distribution services where we deliver pharmaceuticals and medical supplies directly to health care providers, clinics and hospitals, primarily to physicians who regularly order costly specialty pharmaceuticals. This business provides competitive pricing on pharmaceuticals and medical supplies and leverages our distribution platform to improve our results.

•Client growth, both organic and new business, in our Care Services business generally results in increased revenues and income from operations. This includes client movement in our virtual care, in-home care, physical primary care, benefits management and behavioral health services as we expand our businesses and build upon our cross-enterprise leverage.

Results of Operations

Financial SummaryFor the Years Ended December 31,ChangeChange(Dollars in millions)2024202320222024 vs. 20232023 vs. 2022Adjusted revenues (1)$202,155 $153,499 $140,335 $48,656 32 %$13,164 9 %Pre-tax adjusted income from operations (1)$7,001 $6,442 $6,127 $559 9 %$315 5 %Pre-tax margin (1)(2)3.5 %4.2 %4.4 %(70)bps(20) bpsSG&A expense ratio (3)1.9 %2.2 %2.0 %(30)bps20  bps

(1)See Note 22 to the Consolidated Financial Statements for reconciliation of adjusted revenues and pre-tax adjusted income from operations to Total revenues and Income before income taxes, respectively.

(2)Pre-tax margin is calculated as pre-tax adjusted income from operations divided by adjusted revenues. 

(3)SG&A expense ratio is calculated as segment selling, general and administrative expenses divided by adjusted revenues. See Note 22 to the Consolidated Financial Statements for further details.

In this selected financial information, we present adjusted revenues and pre-tax income from operations by our two operating segments, Pharmacy Benefit Services and Specialty and Care Services. 

Selected Financial InformationFor the Years Ended December 31,ChangeChange(Dollars and adjusted scripts in millions)2024202320222024 vs. 20232023 vs. 2022Total adjusted revenuesPharmacy Benefit Services$111,822 $76,792 $75,801