Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 170

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 170
---
.Acquired tangible assets (liabilities) at the acquisition date were:20242023Cash, cash equivalents and short-term investments$484 $6 Accounts receivable and other current assets847 241 Property, equipment and other long-term assets309 18 Medical claims and other policyholder liabilities payable(154)— Accounts payable and other current liabilities(1,005)(169)Other long-term liabilities(242)(1)Deferred tax liabilities(475)(183)Total net tangible assets (liabilities)$(236)$(88)The preliminary purchase price allocations for the various 2024 business combinations are subject to adjustment as valuation analyses, primarily related to intangible assets and contingent and tax liabilities, are finalized.Acquisition date fair values and weighted-average useful lives assigned to intangible assets include:20242023Fair ValueWeighted Average Useful LifeFair ValueWeighted Average Useful LifeCustomer-related$1,621 20 years$796 25 yearsProvider and hospital relationships70 10 years— 0Other 181 8 years24 5 yearsState Medicaid licenses 426 — — — Total intangible assets$2,298 $820 The results of operations and financial condition of acquired entities have been included in our consolidated results and the results of the corresponding operating segment as of the date of acquisition. Through December 31, 2024, the impact of 

 -86-

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

the acquired entities on revenue and net earnings was not material. Unaudited pro-forma revenues for the years ended December 31, 2024, 2023 and 2022, as if the acquisitions had occurred on January 1, 2022, were immaterial. Divestitures On April 1, 2024, we completed the sale of our life and disability businesses to StanCorp Financial Group, Inc. (“The Standard”), a provider of financial protection products and services for employers and individuals, which resulted in a gain on sale of business of $201 in the year ended December 31, 2024. Upon closing, we and The Standard entered into a product distribution partnership. The related net assets held for sale for the life and disability businesses divested as of December 31, 2023 and results of operations for the year ended December 31, 2024 were not material.

4.    Business Optimization Initiatives

2023-2024 Business Efficiency ProgramDuring the third quarter of 2023