Item 16. FORM 10-K SUMMARY

None.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 23, 2023

			THE CIGNA GROUP
			By:			/s/ Brian C. Evanko
			Brian C. Evanko
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated as of February 23, 2023.

Signature						Title
/s/ David M. Cordani
David M. Cordani						Chairman and Chief Executive Officer
						(Principal Executive Officer)
/s/ Brian C. Evanko
Brian C. Evanko						Executive Vice President and Chief Financial Officer
						(Principal Financial Officer)
/s/ Mary T. Agoglia Hoeltzel
Mary T. Agoglia Hoeltzel						Senior Vice President, Tax and Chief Accounting Officer
						(Principal Accounting Officer)
/s/ William J. DeLaney
William J. DeLaney						Director
/s/ Eric J. Foss
Eric J. Foss						Director
/s/ Elder Granger, M.D.
Elder Granger, M.D.						Director
/s/ Neesha Hathi
Neesha Hathi						Director

/s/ George Kurian
George Kurian						Director
/s/ Kathleen M. Mazzarella
Kathleen M. Mazzarella						Director
/s/ Mark B. McClellan, M.D.
Mark B. McClellan, M.D.						Director
/s/ Kimberly A. Ross
Kimberly A. Ross						Director
/s/ Eric C. Wiseman
Eric C. Wiseman						Lead Independent Director
/s/ Donna F. Zarcone
Donna F. Zarcone						Director

THE CIGNA GROUP AND SUBSIDIARIES

INDEX TO FINANCIAL STATEMENT SCHEDULES

									PAGE
Schedules
			I			Condensed Financial Information of The Cigna Group (Registrant)			FS-2
						Statements of Income for the Years Ended December 31, 2022, 2021 and 2020			FS-2
						Balance Sheets as of December 31, 2022 and 2021			FS-3
						Statements of Cash Flows for the Years Ended December 31, 2022, 2021 and 2020			FS-4
						Notes to Condensed Financial Statements			FS-5
			II			Valuation and Qualifying Accounts and Reserves for the Years Ended December 31, 2022, 2021 and 2020			FS-7

Schedules other than those listed above are omitted because they are not required or are not applicable, or the required information is shown in the financial statements or notes thereto.

FS-1

THE CIGNA GROUP AND SUBSIDIARIES

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF THE CIGNA GROUP

(REGISTRANT)

STATEMENTS OF INCOME

						For the Years Ended December 31,
(In millions)						2022						2021						2020
Revenues
Net investment income						$	5					$	—					$	1
Intercompany interest income						478						471						475
Total revenues						483						471						476
Operating expenses
Selling, general and administrative expenses						2						8						4
Total operating expenses						2						8						4
Income from operations						481						463						472
Interest and other expense						(1,215)						(1,197)						(1,324)
Intercompany interest expense						(147)						(13)						(48)
Debt extinguishment costs						—						(131)						(171)
Loss before income taxes						(881)						(878)						(1,071)
Income tax benefits						(183)						(180)						(234)
Loss of Parent Company						(698)						(698)						(837)
Equity in income of subsidiaries						7,366						6,063						9,295
Shareholders' net income						6,668						5,365						8,458
Shareholders' other comprehensive income (loss), net of tax
Net unrealized depreciation on securities and derivatives						(1,005)						(215)						(75)
Net translation gains (losses) of foreign currencies						74						(218)						260
Postretirement benefits liability adjustment						420						410						(105)
Shareholders' other comprehensive (loss) income, net of tax						(511)						(23)						80
Shareholders' comprehensive income						$	6,157					$	5,342					$	8,538

See Notes to Financial Statements on the following pages.

FS-2

THE CIGNA GROUP AND SUBSIDIARIES

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF THE CIGNA GROUP

(REGISTRANT)

BALANCE SHEETS

						As of December 31,
(In millions)						2022						2021
Assets
Cash and cash equivalents						$	115					$	33
Short-term investments						—						99
Other current assets						6						9
Total current assets						121						141
Intercompany receivable						10,366						8,962
Investments in subsidiaries						70,877						70,896
Other non-current assets						99						17
TOTAL ASSETS						$	81,463					$	80,016
Liabilities
Short-term debt						$	2,749					$	2,453
Other current liabilities						1,296						775
Total current liabilities						4,045						3,228
Intercompany payable						5,705						5
Other non-current liabilities						26						—
Long-term debt						26,815						29,671
TOTAL LIABILITIES						36,591						32,904
Shareholders' Equity
Common stock (shares issued, 398 and 394; authorized, 600)						4						4
Additional paid-in capital						30,233						29,574
Accumulated other comprehensive loss						(1,395)						(884)
Retained earnings						37,874						32,593
Less treasury stock, at cost						(21,844)						(14,175)
TOTAL SHAREHOLDERS' EQUITY						44,872						47,112
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY						$	81,463					$	80,016

See Notes to Financial Statements on the following pages.

FS-3

THE CIGNA GROUP AND SUBSIDIARIES

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF THE CIGNA GROUP

(REGISTRANT)

STATEMENTS OF CASH FLOWS

						For the Years Ended December 31,
(In millions)						2022						2021						2020
Cash Flows from Operating Activities
Shareholders' net income						$	6,668					$	5,365					$	8,458
Adjustments to reconcile shareholders' net income
to net cash provided by operating activities
Equity in income of subsidiaries						(7,366)						(6,063)						(9,295)
Debt extinguishment costs						—						131						171
Dividends received from subsidiaries						2,085						2,751						8,627
Other liabilities						5						184						112
Other, net						269						414						500
NET CASH PROVIDED BY OPERATING ACTIVITIES						1,661						2,782						8,573
Cash Flows from Investing Activities
Net change in loans due from affiliates						(901)						(1,007)						(265)
Net proceeds from short-term investments sold (purchased)						99						(50)						(19)
NET CASH USED IN INVESTING ACTIVITIES						(802)						(1,057)						(284)
Cash Flows from Financing Activities
Net change in amounts due to affiliates						10,392						2,062						2,262
Net change in commercial paper						(2,027)						997						86
Payments for debt extinguishment						—						(126)						(181)
Repayment of long-term debt						(430)						(4,199)						(5,996)
Net proceeds on issuance of long-term debt						—						4,260						3,465
Issuance of common stock						389						326						376
Common dividends paid						(1,384)						(1,341)						(15)
Repurchase of common stock						(7,607)						(7,742)						(4,042)
Tax withholding on stock compensation and other						(73)						(86)						(87)
NET CASH USED IN FINANCING ACTIVITIES						(740)						(5,849)						(4,132)
Net increase (decrease) in cash,cash equivalents and restricted cash						119						(4,124)						4,157
Cash and cash equivalents, beginning of year						33						4,157						—
Cash, cash equivalents and restricted cash, end of year (1)						$	152					$	33					$	4,157

(1) Includes restricted cash reported in Other non-current assets as of December 31, 2022.

See Notes to Financial Statements on the following pages.

FS-4

THE CIGNA GROUP AND SUBSIDIARIES

SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF THE CIGNA GROUP

(REGISTRANT)

NOTES TO CONDENSED FINANCIAL STATEMENTS

The accompanying condensed financial statements should be read in conjunction with the Consolidated Financial Statements and the accompanying notes thereto contained in this Annual Report on Form 10-K ("Form 10-K").

Note 1 — For purposes of these condensed financial statements, The Cigna Group's (the "Company") wholly-owned and majority-owned subsidiaries are recorded using the equity method of accounting.

Cigna Holding Company (formerly Cigna Corporation) was incorporated in Delaware in 1981. Halfmoon Parent, Inc. was incorporated in Delaware in March 2018. Halfmoon Parent, Inc. was renamed Cigna Corporation and Cigna Holding Company became its subsidiary concurrent with the consummation of the combination with Express Scripts on December 20, 2018. Cigna Corporation was renamed The Cigna Group in February 2023.

Note 2 — See Note 7 – Debt included in Part II, Item 8 of this Form 10-K for a description of the short-term and long-term debt obligations of The Cigna Group and its subsidiaries.

Short-term and Credit Facilities Debt

Revolving Credit Agreements. Our revolving credit agreements provide us with the ability to borrow amounts for general corporate purposes, including for the purpose of providing liquidity support if necessary under our commercial paper program discussed below. As of December 31, 2022, there were no outstanding balances under these revolving credit agreements.

In April 2022, The Cigna Group entered into the following revolving credit agreements (the "Credit Agreements"):

• a $3.0 billion five-year revolving credit and letter of credit agreement that will mature in April 2027 with an option to extend the maturity date for additional one-year periods, subject to consent of the banks. The Company can borrow up to $3.0 billion under the credit agreement for general corporate purposes, with up to $500 million available for issuance of letters of credit.

• a $1.0 billion three-year revolving credit agreement that will mature in April 2025 with an option to extend the maturity date for additional one-year periods, subject to consent of the banks. The Company can borrow up to $1.0 billion under the credit agreement for general corporate purposes.

• a $1.0 billion 364-day revolving credit agreement that will mature in April 2023. The Company can borrow up to $1.0 billion under the credit agreement for general corporate purposes. This agreement includes the option to "term out" any revolving loans that are outstanding at maturity by converting them into a term loan maturing on the one-year anniversary of conversion.

Each of the Credit Agreements include an option to increase commitments in an aggregate amount of up to $1.5 billion across all three facilities for a maximum total commitment of $6.5 billion. The Credit Agreements allow for borrowings at either a base rate or an adjusted term Secured Overnight Funding Rate ("SOFR") plus, in each case, an applicable margin based on the Company's senior unsecured credit ratings.

Each of the three facilities is diversified among 22 banks. Each facility also contains customary covenants and restrictions, including a financial covenant that the Company's leverage ratio, as defined in the Credit Agreements, may not exceed 60%, subject to certain exceptions upon the consummation of an acquisition.

The Credit Agreements replaced a prior $3.0 billion five-year revolving credit and letter of credit agreement maturing on April 2026, a $1.0 billion three-year revolving credit agreement maturing on April 2024 and a $1.0 billion 364-day revolving credit agreement maturing in April 2022.

Commercial Paper. Under our commercial paper program, we may issue short-term, unsecured commercial paper notes privately placed on a discounted basis through certain broker-dealers at any time not to exceed an aggregate amount of $5.0 billion. Amounts available under the program may be borrowed, repaid and re-borrowed from time to time. The net proceeds of issuances have been and are expected to be used for general corporate purposes. There was no commercial paper outstanding balance as of December 31, 2022.

FS-5

Long-Term Debt

Debt Issuance and Redemption. The Company did not enter into any debt issuances or redemptions in 2022. In order to decrease future interest expense, mitigate future refinancing risk and raise proceeds for general corporate purposes, the Company entered into the following transactions during 2021:

• Debt issuance:** On March 3, 2021, the Company issued $4.3 billion of new senior notes. The proceeds of this issuance were mainly used to redeem outstanding debt securities. The remaining proceeds were used primarily for general corporate purposes.

• Debt redemption:** During 2021, the Company completed the redemption of a total of $4.2 billion in aggregate principal amount of certain of its outstanding debt securities. The Company recorded a pre-tax loss of $131 million ($101 million after-tax), consisting primarily of premium payments.

Maturities of the Company's long-term debt are as follows:

(In millions)
2023						$	2,754
2024						$	1,214
2025						$	2,957
2026						$	2,034
2027						$	2,056
Maturities after 2027						$	18,891

Debt Covenants. The Company was in compliance with its debt covenants as of December 31, 2022.

Note 3 — The Company's intercompany receivables consist primarily of net intercompany loan amounts due from Evernorth Health, Inc. of $8.3 billion as of December 31, 2022 and $7.8 billion as of December 31, 2021. Interest income on the loan receivable was accrued at an average rate of 4.65% in 2022.

The Company's intercompany payables consist primarily of net intercompany loan borrowing from three indirect wholly-owned subsidiaries as of December 31, 2022. Interest expense on the loan payable was accrued at an average rate of 2.82% in 2022.

Note 4 — The Company guaranteed approximately $730 million of payment obligations primarily related to certain indirect wholly-owned subsidiaries. There were no liabilities required for these guarantees as of December 31, 2022.

FS-6

THE CIGNA GROUP AND SUBSIDIARIES

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

(In millions)						Balance at beginning of year						Charged (Credited) to costs and expenses						Charged (Credited) to other accounts						Other deductions						Balance at end of year
Description
2022
Investment asset valuation reserves
Available-for-sale debt securities						$	23					$	43					$	—					$	(22)					$	44
Commercial mortgage loans						$	6					$	15					$	—					$	—					$	21
Accounts receivable, net						$	126					$	99					$	—					$	(65)					$	160
Deferred tax asset valuation allowance						$	246					$	(13)					$	(25)					$	—					$	208
Reinsurance recoverables						$	30					$	7					$	—					$	—					$	37
2021
Investment asset valuation reserves
Available-for-sale debt securities						$	26					$	29					$	—					$	(32)					$	23
Commercial mortgage loans						$	6					$	—					$	—					$	—					$	6
Accounts receivable, net						$	156					$	54					$	—					$	(84)					$	126
Deferred tax asset valuation allowance						$	207					$	23					$	16					$	—					$	246
Reinsurance recoverables						$	32					$	(2)					$	—					$	—					$	30
2020
Investment asset valuation reserves
Available-for-sale debt securities						$	—					$	82					$	—					$	(56)					$	26
Commercial mortgage loans (1)						$	—					$	(1)					$	7					$	—					$	6
Accounts receivable, net						$	252					$	(50)					$	(12)					$	(34)					$	156
Deferred tax asset valuation allowance						$	196					$	10					$	1					$	—					$	207
Reinsurance recoverables (2)						$	2					$	(1)					$	31					$	—					$	32

(1) The Company recorded an additional allowance of $7 million on January 1, 2020 upon the adoption of ASU 2016-13.

(2) The Company recorded an additional allowance of $31 million on January 1, 2020 upon the adoption of ASU 2016-13.

FS-7