Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 226

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 226
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 2024, 2023 and 2022 is as follows: 202420232022Direct$139,479$136,927$127,788Assumed4,7535,9885,505Ceded(66)(61)(64)Net premiums$144,166$142,854$133,229Percentage—assumed to net premiums3.3 %4.2 %4.1 %The difference between written premiums and earned premiums is immaterial in each of the years presented above.A summary of net premiums earned by segment (see Note 20, “Segment Information”) for the years ended December 31, 2024, 2023 and 2022 is as follows: 202420232022Reportable segments:Health Benefits$142,668 $141,515 $131,964 Carelon Services2,630 1,679 1,499 Eliminations(1,132)(340)(234)Net premiums$144,166 $142,854 $133,229 The effect of reinsurance on benefit expense for the years ended December 31, 2024, 2023 and 2022 is as follows:202420232022Direct$123,602 $119,409 $112,061 Assumed4,021 4,984 4,633 Ceded(56)(63)(52)Net benefit expense$127,567 $124,330 $116,642 

18. Leases

We lease office space and certain computer and related equipment using noncancelable operating leases. Our leases have remaining lease terms of 1 year to 11 years.The information related to our leases is as follows:Balance Sheet LocationDecember 31, 2024December 31, 2023Operating LeasesROU assetsOther noncurrent assets$567 $584 Lease liabilities, currentOther current liabilities153 164 Lease liabilities, noncurrentOther noncurrent liabilities658 685 

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

Years Ended December 31202420232022Lease ExpenseOperating lease expense$147$155$143 Short-term and variable lease expense474335 Sublease income(6)(5)(3)Total lease expense$188$193 $175 Our activities as disclosed in Note 4, “Business Optimization Initiatives,” include reducing our office space footprint. As a result,