Cigna 2012 Annual Report Download - page 103
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PART II
ITEM 8 Financial Statements and Supplementary Data
Earnings Per Share
Basic and diluted earnings per share were computed as follows:
Effect of
(Dollars in millions, except per share amounts)
Basic Dilution Diluted
2012
Shareholders’ net income $ 1,623 $ - $ 1,623
Shares (in thousands):
Weighted average 284,819 - 284,819
Common stock equivalents 4,711 4,711
Total shares 284,819 4,711 289,530
EPS $ 5.70 $ (0.09) $ 5.61
2011
Shareholders’ net income $ 1,260 $ - $ 1,260
Shares (in thousands):
Weighted average 270,691 - 270,691
Common stock equivalents 3,558 3,558
Total shares 270,691 3,558 274,249
EPS $ 4.65 $ (0.06) $ 4.59
2010
Shareholders’ net income $ 1,279 $ - $ 1,279
Shares (in thousands):
Weighted average 272,866 - 272,866
Common stock equivalents 2,421 2,421
Total shares 272,866 2,421 275,287
EPS $ 4.69 $ (0.04) $ 4.65
The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect would
have increased diluted earnings per share (antidilutive) as their exercise price was greater than the average share price of the Company’s common
stock for the period.
(In millions)
2012 2011 2010
Antidilutive options 2.5 3.7 6.3
Global Health Care Medical Claims Payable
Medical claims payable for the Global Health Care segment reflects business (primarily the global health benefits business previously
estimates of the ultimate cost of claims that have been incurred but reported in the former International segment). As a result of the
not yet reported, those which have been reported but not yet paid segment reporting change, insurance liabilities of the international
(reported claims in process) and other medical expense payable, which health care business previously classified as Unpaid Claims have been
comprises accruals primarily for provider incentives and other reclassified to Global Health Care Medical Claims Payable in the
amounts payable to providers. Consolidated Balance Sheets, and corresponding amounts in the
Statement of Income previously reported as Other Benefits Expense
As discussed further in Notes 2 and 23¸ effective December 31, 2012, have been reclassified to Global Health Care Medical Claims Expense.
Cigna changed its external reporting segments. The Global Health Prior year amounts have been conformed to this new presentation.
Care segment now includes most of Cigna’s international health care
CIGNA CORPORATION - 2012 Form 10-K 81
NOTE 4
NOTE 5