Company: CI
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001739940-25-000021
Chunk: 38

Company: Cigna Group
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 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)TotalMarch 31,2025December 31, 2024March 31,2025December 31, 2024March 31,2025December 31, 2024March 31,2025December 31, 2024Financial assets at fair valueDebt securitiesFederal government and agency$104 $165 $119 $116 $— $— $223 $281 State and local government— — 25 37 — — 25 37 Foreign government— — 358 344 — — 358 344 Corporate— — 6,951 8,049 329 374 7,280 8,423 Mortgage and other asset-backed— — 285 295 44 43 329 338 Total debt securities104 165 7,738 8,841 373 417 8,215 9,423 Equity securities (1)1 1 37 36 — — 38 37 Short-term investments— — 196 170 — — 196 170 Derivative assets— — 153 168 — — 153 168 Financial liabilities at fair valueDerivative liabilities$— $— $2 $1 $— $— $2 $1 (1)Excludes certain equity securities that have no readily determinable fair value.

20

Level 3 Financial Assets and Financial LiabilitiesCertain 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