Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 41

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 41
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.C. (“CVS”), which is a subsidiary of CVS Health Corporation, pursuant to an agreement (the “CVS Agreement”), with the current contractual term extending through December 31, 2027. We can elect to have CVS continue to provide services to us for a three-year extension period on the same terms and conditions as in the current CVS Agreement in the event of a termination or non-renewal by either party.We have financial guarantees related to standby letters of credit and surety bonds related to certain contractual commitments, which totaled $834 as of September 30, 2025. We do not believe such obligations will materially affect our financial position, results of operations, or cash flows.We have unfunded loan commitments to certain equity investees of $501 at September 30, 2025. We do not believe such obligations will materially affect our financial position, results of operations, or cash flows. Vulnerability ConcentrationsFinancial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, investment securities, premium receivables and instruments held through hedging activities. All investment securities are managed by professional investment managers within policies authorized by our Board of Directors. Such policies limit the amounts that may be invested in any one issuer and prescribe certain investee company criteria. Concentrations of credit risk with respect to premium receivables are limited due to the large number of employer groups that constitute our customer base in the states in which we conduct business. As of September 30, 2025, there were no significant concentrations of financial instruments in a single investee, industry or geographic location.

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12.     Capital Stock 

Stock Incentive PlansA summary of stock option activity for the nine months ended September 30, 2025 is as follows:Number ofSharesWeighted-AverageOption Priceper ShareWeighted-AverageRemainingContractualLife (Years)AggregateIntrinsicValueOutstanding at January 1, 20252.9 $361.36 Granted0.6 394.27 Exercised(0.2)218.45 Forfeited or expired(0.1)436.11 Outstanding at September 30, 20253.2 373.18 5.86$77 Exercisable at September 30, 20252.1 342.73 4.51$77 A summary of the status of nonvested restricted stock activity, including restricted stock units and performance units, for