Company: CI
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001739940-25-000021
Chunk: 23

Company: Cigna Group
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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. 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. 

Note 3 – Accounts Receivable, Net

The following amounts were included within Accounts receivable, net:(In millions)March 31, 2025December 31, 2024Noninsurance customer receivables$13,357 $11,879 Pharmaceutical manufacturers receivables11,393 10,914 Insurance customer receivables1,488 3,199 Other receivables691 162 Total$26,154 Accounts receivable, net classified as assets of businesses held for sale(1,927)Total$26,929 $24,227 

These accounts receivable are reported net of our allowances of $5.7 billion and $5.0 billion as of March 31, 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 $296 million as of March 31, 2025 and $84 million as of December 31, 2024.

Accounts Receivable Factoring FacilityThe Company maintains an uncommitted factoring facility (the "Facility") 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. The Facility's total capacity is $1.5 billion.We sold manufacturer accounts receivable under the Facility of $1.4 billion and $1.9 billion for the three months ended March 31, 2025 and 2024, respectively. For the three months ended March 31, 2025 and 2024, factoring fees paid were not material. As of March 31, 2025 and December 31, 2024, all sold accounts receivable had been collected from pharmaceutical manufacturers. As of March 31, 2025, all collections had been remitted to the financial institution. As of December 31, 2024, there was $1.0 billion of collections from pharmaceutical