EX-12 2 a2234149zex-12.htm EX-12

PART IV
ITEM 15. Exhibits and Financial Statement Schedules

EXHIBIT 12   Cigna Corporation – Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)
Year Ended December 31,
   2017
   2016
   2015
   2014
   2013
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income before income taxes

   $ 3,606   $ 2,979   $ 3,327   $ 3,304   $ 2,176

Adjustments

                              

(Income) loss from equity investee, net (1)

   ​ 12   ​ 45   ​ 3   ​ (18)   ​ (17)

(Income) loss attributable to noncontrolling interests

     5     24     17     5     (3)
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income before income taxes, as adjusted

   $ 3,623   $ 3,048   $ 3,347   $ 3,291   $ 2,156
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges included in income

                              

Interest expense

   $ 243   $ 251   $ 252   $ 265   $ 270

Interest portion of rental expense

     54     50     54     50     38

Interest credited to contractholders

   ​ 2   ​ 1   ​ 1   ​ 3   ​ 5
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges included in income

   $ 299   $ 302   $ 307   $ 318   $ 313
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income available for fixed charges

   $ 3,922   $ 3,350   $ 3,654   $ 3,609   $ 2,469
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ratio of Earnings to Fixed Charges:

     13.1     11.1     11.9     11.3     7.9
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Beginning in 2015, net of distributions received from equity method investments
​ ​ ​ CIGNA CORPORATION - 2017 Form 10-K    E-1