Cigna 2009 Annual Report Download - page 120
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100
CIGNA Corporation
Consolidated Balance Sheets
(In millions, except per share amounts)
As of December 31, 2009 2008
Assets
Investments:
Fixed maturities, at fair value (amortized cost, $12,580; $11,492) $ 13,443 $ 11,781
Equity securities, at fair value (cost, $137; $140) 113 112
Commercial mortgage loans 3,522 3,617
Policy loans 1,549 1,556
Real estate 124 53
Other long-term investments 595 632
Short-term investments 493 236
Total investments 19,839 17,987
Cash and cash equivalents 924 1,342
Accrued investment income 238 225
Premiums, accounts and notes receivable, net 1,361 1,407
Reinsurance recoverables 6,597 6,973
Deferred policy acquisition costs 943 789
Property and equipment 862 804
Deferred income taxes, net 1,029 1,617
Goodwill 2,876 2,878
Other assets, including other intangibles 1,056 1,520
Separate account assets 7,288 5,864
Total assets $ 43,013 $ 41,406
Liabilities
Contractholder deposit funds $ 8,484 $ 8,539
Future policy benefits 8,136 8,754
Unpaid claims and claim expenses 3,968 4,037
Health Care medical claims payable 921 924
Unearned premiums and fees 427 414
Total insurance and contractholder liabilities 21,936 22,668
Accounts payable, accrued expenses and other liabilities 5,797 6,869
Short-term debt 104 301
Long-term debt 2,436 2,090
Nonrecourse obligations 23 16
Separate account liabilities 7,288 5,864
Total liabilities 37,584 37,808
Contingencies — Note 23
Shareholders’ Equity
Common stock (par value per share, $0.25; shares issued, 351) 88 88
Additional paid-in capital 2,514 2,502
Net unrealized appreciation (depreciation), fixed maturities $ 378 $ (147)
Net unrealized appreciation, equity securities 4 7
Net unrealized depreciation, derivatives (30) (13)
Net translation of foreign currencies (12) (60)
Postretirement benefits liability adjustment (958) (861)
Accumulated other comprehensive loss (618) (1,074)
Retained earnings 8,625 7,374
Less treasury stock, at cost (5,192) (5,298)
Total shareholders’ equity 5,417 3,592
Noncontrolling interest 12 6
Total equity 5,429 3,598
Total liabilities and equity $ 43,013 $ 41,406
Shareholders’ Equity Per Share $19.75 $ 13.25
The accompanying Notes to the Consolidated Financial Statements are an integral part of these statements.