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69CIGNA CORPORATION2011 Form10K
PART II
ITEM 8 Financial Statements and Supplementary Data
Cigna Corporation
Consolidated Balance Sheets
As of December31,
(In millions, except per share amounts)
2011 2010
ASSETS
Investments:
Fixed maturities, at fair value (amortized cost, $14,257; $13,445) $ 16,217 $ 14,709
Equity securities, at fair value (cost, $124; $144) 100 127
Commercial mortgage loans 3,301 3,486
Policy loans 1,502 1,581
Real estate 87 112
Other long-term investments 1,058 759
Short-term investments 225 174
Total investments 22,490 20,948
Cash and cash equivalents 4,690 1,605
Accrued investment income 252 235
Premiums, accounts and notes receivable, net 1,358 1,318
Reinsurance recoverables 6,256 6,495
Deferred policy acquisition costs 1,312 1,122
Property and equipment 1,024 912
Deferred income taxes, net 632 782
Goodwill 3,164 3,119
Other assets, including other intangibles 1,776 1,238
Separate account assets 8,093 7,908
TOTAL ASSETS $ 51,047 $ 45,682
LIABILITIES
Contractholder deposit funds $ 8,553 $ 8,509
Future policy benets 8,593 8,147
Unpaid claims and claim expenses 4,146 4,017
Health Care medical claims payable 1,095 1,246
Unearned premiums and fees 502 416
Total insurance and contractholder liabilities 22,889 22,335
Accounts payable, accrued expenses and other liabilities 6,627 5,936
Short-term debt 104 552
Long-term debt 4,990 2,288
Separate account liabilities 8,093 7,908
TOTAL LIABILITIES 42,703 39,019
Contingencies— Note23
SHAREHOLDERS’ EQUITY
Common stock (par value per share, $0.25; shares issued, 366; 351; authorized, 600) 92 88
Additional paid-in capital 3,188 2,534
Net unrealized appreciation, xed maturities 739 529
Net unrealized appreciation, equity securities 1 3
Net unrealized depreciation, derivatives (23) (24)
Net translation of foreign currencies (3) 25
Postretirement benets liability adjustment (1,507) (1,147)
Accumulated other comprehensive loss (793) (614)
Retained earnings 11,143 9,879
Less: treasury stock, at cost (5,286) (5,242)
TOTAL SHAREHOLDERS’ EQUITY 8,344 6,645
Noncontrolling interest - 18
TOTAL EQUITY 8,344 6,663
Total liabilities and equity $ 51,047 $ 45,682
SHAREHOLDERS’ EQUITY PER SHARE $ 29.22 $ 24.44
The accompanying Notesto the Consolidated Financial Statements are an integral part of these statements.
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