Cigna 2012 Annual Report Download - page 109
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PART II
ITEM 8 Financial Statements and Supplementary Data
Goodwill, Other Intangibles, and Property and Equipment
Effective December 31, 2012, the Company changed its external reporting segments. See Note 23 for further information. Goodwill primarily
relates to the Global Health Care segment ($5.7 billion) and, to a lesser extent, the Global Supplemental Benefits segment ($350 million) and
increased during 2012 primarily as a result of the acquisitions of HealthSpring ($2.5 billion) and, to a lesser extent, Great American Supplemental
Benefits and Finans Emeklilik ($300 million).
Activity in Goodwill during 2012 and 2011 was as follows:
(In millions) 2012 2011
Balance at January 1, $ 3,164 $ 3,119
Goodwill acquired:
FirstAssist 757
HealthSpring 2,541 -
Great American Supplement Benefits 168 -
Finans Emeklilik 113 -
Goodwill sold:
Cigna Government Services - (6)
Impact of foreign currency translation 8 (6)
Balance at December 31, $ 6,001 $ 3,164
Other intangible assets were comprised of the following at December 31:
Weighted Average
Accumulated Net Carrying Amortization
(Dollars in millions) Cost Amortization Value Period (Years)
2012
Customer relationships $ 1,278 $ 466 $ 812 10
Other 328 80 248 11
Total reported in other assets, including other intangibles 1,606 546 1,060
Value of business acquired (reported in deferred policy acquisition
costs) 172 2 170 26
Internal-use software (reported in property and equipment) 1,738 1,191 547 5
TOTAL OTHER INTANGIBLE ASSETS $ 3,516 $ 1,739 $ 1,777
2011
Customer relationships $ 583 $ 313 $ 270 13
Other 127 27 100 12
Total reported in other assets, including other intangibles 710 340 370
Internal-use software (reported in property and equipment) 1,600 1,054 546 5
TOTAL OTHER INTANGIBLE ASSETS $ 2,310 $ 1,394 $ 916
The increase in intangible assets in 2012 relates primarily to the acquisitions of HealthSpring and, to a lesser extent, Great American
Supplemental Benefits and Finans Emeklilik.
Property and equipment was comprised of the following as of December 31:
Accumulated Net Carrying
(Dollars in millions) Cost Amortization Value
2012
Internal-use software $ 1,738 $ 1,191 $ 547
Other property and equipment 1,415 842 573
TOTAL PROPERTY AND EQUIPMENT $ 3,153 $ 2,033 $ 1,120
2011
Internal-use software $ 1,600 $ 1,054 $ 546
Other property and equipment 1,285 807 478
TOTAL PROPERTY AND EQUIPMENT $ 2,885 $ 1,861 $ 1,024
CIGNA CORPORATION - 2012 Form 10-K 87
NOTE 9