Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 178

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 178
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 with carrying values of approximately $1,035 and $876, respectively, were deposited by our insurance subsidiaries under requirements of regulatory authorities.Accrued Investment IncomeAccrued investment income totaled $287 and $301 at December 31, 2024 and 2023, respectively. We recognize accrued investment income under the caption “Other receivables” on our consolidated balance sheets.Securities Lending ProgramsThe fair value of the cash and securities received as collateral for securities loaned at December 31, 2024 and 2023 was $2,305 and $2,380, respectively. The collateral received was 102% of the market value of the loaned securities at each of December 31, 2024 and 2023.We recognize the collateral as an asset under the caption “Other current assets” in our consolidated balance sheets, and we recognize a corresponding liability for the obligation to return the collateral to the borrower under the caption “Other current liabilities.” The securities on loan are reported in the applicable investment category on our consolidated balance sheets.

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Elevance Health, Inc.Notes to Consolidated Financial Statements (continued)

At December 31, 2024 and 2023, the remaining contractual maturities of our securities lending transactions included overnight and continuous transactions of cash for $2,115 and $2,255, respectively, United States Government securities for $176 and $99, respectively, and residential mortgage-backed securities for $14 and $26, respectively.

6. Derivative Financial Instruments

We primarily invest in the following types of derivative financial instruments: interest rate swaps, futures, forward contracts, put and call options, collars, swaptions, embedded derivatives and warrants. We also enter into master netting agreements which reduce credit risk by permitting net settlement of transactions. At December 31, 2024 and 2023, we had posted collateral of $142 and $35, respectively, related to our derivative financial instruments.

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Elevance Health, Inc.Notes to Consolidated Financial Statements (continued)

A summary of the aggregate contractual or notional amounts and carrying values related to derivative financial instruments at December 31, 2024 and 2023 is as follows: Contractual/NotionalAmountBalance Sheet LocationCarrying ValueAsset(Liability)December 31, 2024Hedging instrumentsInterest rate swaps - fixed to floating$6,475 Other assets/other liabilities$8 $(150)Foreign currency forwards322 Other liabilities—