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Mergers and Acquisitions
6 Months Ended
Jun. 30, 2019
Acquisitions and Dispositions [Abstract]  
Acquisitions and Dispositions Note 4 – Mergers and Acquisitions

A.Acquisition of Express Scripts

 

On December 20, 2018, Cigna acquired Express Scripts through a series of mergers (collectively, the “Merger”). Cigna Holding Company (formerly named Cigna Corporation and referred to as “Old Cigna”) and Express Scripts each merged with and into a wholly-owned subsidiary of Cigna. As a result of these transactions, Cigna became the parent of the combined company. Our 2018 Form 10-K includes detailed disclosures of merger consideration, purchase price allocation and intangible assets identified in this transaction. The purchase price allocation was based on management’s preliminary estimates of their fair values and may change as additional information becomes available. For the six months ended June 30, 2019, there were immaterial changes to the purchase price allocation.

B.Integration and Transaction-related Costs

 

The Company incurred integration and transaction costs related to Express Scripts, the terminated merger with Anthem, Inc. (“Anthem”) and other transactions of $155 million pre-tax ($115 million after-tax) for the three months and $291 million pre-tax ($223 million after-tax) for the six months ended June 30, 2019, compared with $130 million pre-tax ($109 million after-tax) for the three months and $190 million pre-tax ($159 million after-tax) for the six months ended June 30, 2018. These costs consisted primarily of fees for legal, advisory and other professional services, certain employment-related costs and, in 2018, amortization of certain financing fees.