Cigna Group Earnings Per Share Disclosure
| For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (Shares in thousands, dollars in millions, except per share amounts) | Basic | Effect of Dilution | Diluted | Basic | Effect of Dilution | Diluted | Basic | Effect of Dilution | Diluted | ||||||||||||||||||||||||||||||||||||||||||||
Shareholders' net income | $ | 5,957 | $ | 5,957 | $ | 3,434 | $ | 3,434 | $ | 5,164 | $ | 5,164 | |||||||||||||||||||||||||||||||||||||||||
| Shares: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Weighted average | 266,744 | 266,744 | 280,294 | 280,294 | 293,892 | 293,892 | |||||||||||||||||||||||||||||||||||||||||||||||
| Common stock equivalents | 1,819 | 1,819 | 2,924 | 2,924 | 2,990 | 2,990 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total shares | 266,744 | 1,819 | 268,563 | 280,294 | 2,924 | 283,218 | 293,892 | 2,990 | 296,882 | ||||||||||||||||||||||||||||||||||||||||||||
| Earnings per share | $ | 22.33 | $ | (0.15) | $ | 22.18 | $ | 12.25 | $ | (0.13) | $ | 12.12 | $ | 17.57 | $ | (0.18) | $ | 17.39 | |||||||||||||||||||||||||||||||||||
| For the Years Ended December 31, | |||||||||||||||||
| (In millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Anti-dilutive options | 2.0 | 1.1 | 0.9 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.