Segment Information | Note 19 – Segment Information See Note 1 for a description of our segments, including the segment change effective in the fourth quarter of 2021. Prior year segment information has been adjusted to reflect the segment change and a description of our basis of reporting segment operating results is outlined below. Intersegment revenues primarily reflect pharmacy-related transactions between the Evernorth and Cigna Healthcare segments. The Company uses "pre-tax adjusted income (loss) from operations" and "adjusted revenues" as its principal financial measures of segment operating performance because management believes these metrics best reflect the underlying results of business operations and permit analysis of trends in underlying revenue, expenses and profitability. We define pre-tax adjusted income from operations as income before income taxes excluding pre-tax income (loss) attributable to noncontrolling interests, net realized investment results, amortization of acquired intangible assets, and special items. Cigna's share of certain realized 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 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 Cigna's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management 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 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 to allocate resources or evaluate segment performance. The following tables present the special items recorded by the Company for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (In millions) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Description of Special Item Charges (Benefits) and Financial Statement Line Item(s) After-tax Before-tax After-tax Before-tax After-tax Before-tax After-tax Before-tax Integration and transaction-related costs (benefits) $ 23 $ 24 $ (35) $ 13 $ 86 $ 112 $ 1 $ 58 Charge for organizational efficiency plan — — — — 17 22 — — (Benefits) associated with litigation matters — — — — (20) (28) (21) (27) (Gain) on sale of businesses (1,388) (1,735) — — (1,388) (1,735) — — Debt extinguishment costs — — — — — — 110 141 Total impact from special items $ (1,365) $ (1,711) $ (35) $ 13 $ (1,305) $ (1,629) $ 90 $ 172 (In millions) Evernorth Cigna Healthcare Other Operations Corporate and Eliminations Total Three months ended September 30, 2022 Revenues from external customers $ 34,670 $ 10,328 $ 78 $ — $ 45,076 Intersegment revenues 1,003 667 — (1,670) Net investment income 25 101 75 3 204 Total revenues 35,698 11,096 153 (1,667) 45,280 Net realized investment results from certain equity method investments — 80 — — 80 Adjusted revenues $ 35,698 $ 11,176 $ 153 $ (1,667) $ 45,360 Income (loss) before income taxes $ 1,200 $ 879 $ 1,752 $ (340) $ 3,491 Pre-tax adjustments to reconcile to adjusted income from operations (Income) attributable to noncontrolling interests (17) (1) (4) — (22) Net realized investment losses (1) — 158 3 — 161 Amortization of acquired intangible assets 442 17 1 — 460 Special items Integration and transaction-related costs — — — 24 24 (Gain) on sale of businesses — — (1,735) — (1,735) Pre-tax adjusted income (loss) from operations $ 1,625 $ 1,053 $ 17 $ (316) $ 2,379 (In millions) Evernorth Cigna Healthcare Other Operations Corporate and Eliminations Total Three months ended September 30, 2021 Revenues from external customers $ 32,668 $ 10,283 $ 869 $ — $ 43,820 Intersegment revenues 942 584 — (1,526) Net investment income 4 333 131 — 468 Total revenues 33,614 11,200 1,000 (1,526) 44,288 Net realized investment results from certain equity method investments — 22 — — 22 Adjusted revenues $ 33,614 $ 11,222 $ 1,000 $ (1,526) $ 44,310 Income (loss) before income taxes $ 1,074 $ 1,110 $ 196 $ (321) $ 2,059 Pre-tax adjustments to reconcile to adjusted income from operations (Income) attributable to noncontrolling interests (10) (1) (5) — (16) Net realized investment (gains) losses (1) — (73) 27 — (46) Amortization of acquired intangible assets 484 10 7 — 501 Special items Integration and transaction-related costs — — — 13 13 Pre-tax adjusted income (loss) from operations $ 1,548 $ 1,046 $ 225 $ (308) $ 2,511 (1) Includes the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. (In millions) Evernorth Cigna Healthcare Other Operations Corporate and Eliminations Total Nine months ended September 30, 2022 Revenues from external customers $ 100,675 $ 31,411 $ 1,736 $ — $ 133,822 Intersegment revenues 3,421 1,815 — (5,236) Net investment income 51 545 344 3 943 Total revenues 104,147 33,771 2,080 (5,233) 134,765 Net realized investment results from certain equity method investments — 134 — — 134 Adjusted revenues $ 104,147 $ 33,905 $ 2,080 $ (5,233) $ 134,899 Income (loss) before income taxes $ 3,114 $ 2,943 $ 2,134 $ (1,166) $ 7,025 Pre-tax adjustments to reconcile to adjusted income from operations (Income) attributable to noncontrolling interests (41) (2) (11) — (54) Net realized investment losses (1) — 542 87 — 629 Amortization of acquired intangible assets 1,329 89 1 — 1,419 Special items Integration and transaction-related costs — — — 112 112 Charge for organizational efficiency plan — — — 22 22 (Benefits) associated with litigation matters — — — (28) (28) (Gain) on sale of businesses — — (1,735) — (1,735) Pre-tax adjusted income (loss) from operations $ 4,402 $ 3,572 $ 476 $ (1,060) $ 7,390 (In millions) Evernorth Cigna Healthcare Other Operations Corporate and Eliminations Total Nine months ended September 30, 2021 Revenues from external customers $ 93,640 $ 30,971 $ 2,610 $ — $ 127,221 Intersegment revenues 3,174 1,683 — (4,857) Net investment income 12 772 385 — 1,169 Total revenues 96,826 33,426 2,995 (4,857) 128,390 Net realized investment results from certain equity method investments — 12 — — 12 Adjusted revenues $ 96,826 $ 33,438 $ 2,995 $ (4,857) $ 128,402 Income (loss) before income taxes $ 2,752 $ 3,266 $ 630 $ (1,178) $ 5,470 Pre-tax adjustments to reconcile to adjusted income from operations (Income) attributable to noncontrolling interests (21) (2) (16) — (39) Net realized investment losses (gains) (1) 4 (163) 43 — (116) Amortization of acquired intangible assets 1,449 36 14 — 1,499 Special items Integration and transaction-related costs — — — 58 58 (Benefits) associated with litigation matters — — — (27) (27) Debt extinguishment costs — — — 141 141 Pre-tax adjusted income (loss) from operations $ 4,184 $ 3,137 $ 671 $ (1,006) $ 6,986 (1) Includes the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. 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 for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2022 2021 2022 2021 Products (Pharmacy revenues) (ASC 606) Network revenues $ 16,583 $ 16,488 $ 48,221 $ 47,792 Home delivery and specialty revenues 15,583 13,796 45,550 39,911 Other revenues 1,630 1,701 5,009 4,708 Intercompany eliminations (1,034) (972) (3,349) (3,326) Total pharmacy revenues 32,762 31,013 95,431 89,085 Insurance premiums (ASC 944) Cigna Healthcare U.S. Commercial Insured 3,821 3,591 11,312 10,692 Stop loss 1,384 1,225 4,053 3,613 Other 353 320 1,065 938 U.S. Government Medicare Advantage 1,949 2,079 6,080 6,287 Medicare Part D 240 315 986 1,175 Other 1,029 1,241 3,007 3,606 International Health 732 646 2,146 1,920 Total Cigna Healthcare 9,508 9,417 28,649 28,231 Divested international businesses — 800 1,500 2,418 Other 76 61 219 169 Intercompany eliminations 2 (3) — (6) Total premiums 9,586 10,275 30,368 30,812 Services (Fees) (ASC 606) Evernorth 1,875 1,623 5,289 4,393 Cigna Healthcare 1,530 1,433 4,504 4,292 Other Operations — 4 9 14 Other revenues (39) 23 108 150 Intercompany eliminations (638) (551) (1,887) (1,525) Total fees and other revenues 2,728 2,532 8,023 7,324 Total revenues from external customers $ 45,076 $ 43,820 $ 133,822 $ 127,221 |