Employee Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Shares of Common Stock Available for Award

Shares of common stock available for award were as follows:

(In millions)	December 31, 2024	December 31, 2023	December 31, 2022
Common shares available for award	12.4	14.4	16.6

Black-Sholes Option-Pricing Model Assumptions

Black-Scholes option pricing model assumptions and the resulting fair value of options are presented in the following table:

	2024			2023			2022
Dividend yield	1.74		%	1.58		%	1.98		%
Expected volatility	30.0		%	30.0		%	30.0		%
Risk free interest rate	4.0		%	3.6		%	1.6		%
Expected option life	4.8 years			4.7 years			4.5 years
Weighted average fair value of options	$	92.36		$	79.66		$	50.61

Status of and Changes in Common Stock Options

The following table shows the status of, and changes in, common stock options:

	For the Years Ended December 31,
	2024			2023			2022
(Options in thousands)	Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price
Outstanding - January 1	6,696	$	202.02	6,992	$	186.54	8,490	$	169.47
Granted	781	$	336.48	915	$	294.37	1,375	$	226.95
Exercised	(1,727)	$	178.82	(1,080)	$	174.66	(2,617)	$	149.97
Expired or canceled	(95)	$	278.78	(131)	$	246.95	(256)	$	211.22
Outstanding - December 31	5,655	$	226.38	6,696	$	202.02	6,992	$	186.54
Options exercisable at year-end	3,941	$	196.01	4,616	$	179.28	4,410	$	168.97

Summary of Information for Stock Options Exercised and Outstanding

The table below summarizes information for stock options exercised:

	For the Years Ended December 31,
(In millions)	2024		2023		2022
Intrinsic value of options exercised	$	275	$	126	$	313
Cash received for options exercised	$	305	$	187	$	389
Tax benefit from options exercised	$	34	$	17	$	47

The following table summarizes information for outstanding common stock options:

	December 31, 2024
	Options Outstanding		Options Exercisable
Number (in thousands)	5,655		3,941
Total intrinsic value (in millions)	$	341	$	320
Weighted average exercise price	$	226.38	$	196.01
Weighted average remaining contractual life	5.8 years		4.7 years

Status of and Changes in Restricted Stock Awards and the Fair Value of Vested Restricted Stock

The following table shows the status of, and changes in, restricted stock awards:

	For the Years Ended December 31,
	2024			2023			2022
(Awards in thousands)	Grants/Units	Weighted Average Fair Value at Award Date		Grants/Units	Weighted Average Fair Value at Award Date		Grants/Units	Weighted Average Fair Value at Award Date
Outstanding - January 1	1,404	$	257.38	1,535	$	219.25	1,524	$	202.85
Awarded	624	$	319.39	700	$	294.60	876	$	229.60
Vested	(713)	$	245.35	(759)	$	214.70	(714)	$	197.83
Forfeited	(65)	$	283.62	(72)	$	256.24	(151)	$	215.02
Outstanding - December 31	1,250	$	302.42	1,404	$	257.38	1,535	$	219.25

The fair value of vested restricted stock at the vesting date was as follows:

	For the Years Ended December 31,
(In millions)	2024		2023		2022
Fair value of vested restricted stock	$	238	$	220	$	167

Status of and Changes in SPSs

The following table shows the status of, and changes in, SPSs:

	For the Years Ended December 31,
	2024			2023			2022
(Awards in thousands)	Shares	Weighted Average Fair Value at Award Date		Shares	Weighted Average Fair Value at Award Date		Shares	Weighted Average Fair Value at Award Date
Outstanding - January 1	686	$	243.90	780	$	212.68	860	$	197.07
Awarded	195	$	336.81	219	$	293.85	294	$	230.69
Vested	(242)	$	214.93	(250)	$	191.78	(261)	$	183.60
Forfeited	(38)	$	289.35	(63)	$	237.50	(113)	$	207.75
Outstanding - December 31	601	$	282.83	686	$	243.90	780	$	212.68

The fair value of vested SPSs at the vesting date was as follows:

	For the Years Ended December 31,
	2024			2023			2022
(Shares in thousands; $ in millions)	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Shares of The Cigna Group common stock distributed upon SPS vesting	257	$	86	257	$	76	137	$	31

Compensation Cost and Tax Effects of Share-based Compensation

Compensation Cost and Tax Effects of Share-Based Compensation

The Company records tax benefits in Shareholders' net income during the vesting period based on the amount of expense being recognized. The difference between tax benefits based on the expense and the actual tax benefit realized are also recorded in income tax expense when stock options are exercised, or when restricted stock and SPSs vest.

	For the Years Ended December 31,
(In millions)	2024		2023		2022
Total compensation cost for shared-based awards	$	308	$	286	$	264
Tax benefits recognized	$	94	$	92	$	80