Cigna 2010 Annual Report Download - page 93

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CIGNA CORPORATION2010 Form 10K 73
PART II
ITEM 8 Financial Statements and Supplementary Data
ITEM 8 Financial Statements and Supplementary Data
CIGNA Corporation
Consolidated Statements of Income
For the years ended December31,
(In millions, except per share amounts)
2010 2009 2008
Revenues
Premiums and fees $ 18,393 $ 16,041 $ 16,253
Net investment income 1,105 1,014 1,063
Mail order pharmacy revenues 1,420 1,282 1,204
Other revenues 260 120 751
Realized investment gains (losses)
Other-than-temporary impairments on fi xed maturities, net (1) (47) (213)
Other realized investment gains 76 4 43
Total realized investment gains (losses) 75 (43) (170)
TOTAL REVENUES 21,253 18,414 19,101
Bene ts and Expenses
Health Care medical claims expense 8,570 6,927 7,252
Other benefi t expenses 3,663 3,407 4,285
Mail order pharmacy cost of goods sold 1,169 1,036 961
GMIB fair value (gain) loss 55 (304) 690
Other operating expenses 5,926 5,450 5,531
TOTAL BENEFITS AND EXPENSES 19,383 16,516 18,719
Income from Continuing Operations before Income Taxes 1,870 1,898 382
Income taxes (benefi ts):
Current 331 275 313
Deferred 190 319 (221)
TOTAL TAXES 521 594 92
Income from Continuing Operations 1,349 1,304 290
Income from Discontinued Operations, Net of Taxes -14
Net Income 1,349 1,305 294
Less: Net Income Attributable to Noncontrolling Interest 432
SHAREHOLDERS’ NET INCOME $ 1,345 $ 1,302 $ 292
Basic Earnings Per Share:
Shareholders' income from continuing operations $ 4.93 $ 4.75 $ 1.04
Shareholders' income from discontinued operations -- 0.01
SHAREHOLDERS’ NET INCOME $ 4.93 $ 4.75 $ 1.05
Diluted Earnings Per Share:
Shareholders’ income from continuing operations $ 4.89 $ 4.73 $ 1.03
Shareholders’ income from discontinued operations -- 0.02
SHAREHOLDERS’ NET INCOME $ 4.89 $ 4.73 $ 1.05
Dividends Declared Per Share $ 0.04 $ 0.04 $ 0.04
Amounts Attributable to CIGNA:
Shareholders’ income from continuing operations $ 1,345 $ 1,301 $ 288
Shareholders’ income from discontinued operations -14
SHAREHOLDERS’ NET INCOME $ 1,345 $ 1,302 $ 292
The accompanying Notes to the Consolidated Financial Statements are an integral part of these statements.