Company: ELV
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001156039-25-000057
Chunk: 86

Company: Elevance Health, Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 2
Chunk 86
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 intangible assets or income taxes, as these items are managed in our corporate shared service environment and are not the responsibility of operating segment management. Operating margin is calculated as operating gain divided by operating revenue. We use these measures as a basis for evaluating segment performance, allocating resources, forecasting future operating periods and setting incentive compensation targets. This information is not intended to be considered in isolation or as a substitute for income before income tax expense, shareholders’ net income or EPS prepared in accordance with GAAP, and may not be comparable to similarly titled measures reported by other companies. For a reconciliation of reportable segments’ operating revenue to the amounts of total revenue included in the consolidated statements of income and a reconciliation of income before income tax expense to reportable segments’ operating gain, see Note 15, “Segment Information,” of the Notes to Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.

We report our results of operations in the following four reportable segments: Health Benefits, CarelonRx, Carelon Services and Corporate & Other (our businesses that do not individually meet the quantitative thresholds for an operating segment, as well as corporate expenses not allocated to our other reportable segments). For additional information, see Note 15, “Segment Information,” of the Notes to Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q. 

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The following table presents a summary of the reportable segment financial information for the three months ended March 31, 2025 and 2024:

 Three Months Ended  March 31Three Months Ended March 31 2025 vs. 2024 Change20252024$%Operating RevenueHealth Benefits$41,431$37,258$4,173 11.2 %CarelonRx10,1168,0672,049 25.4 %Carelon Services6,5364,0092,527 63.0 %Corporate & Other16512738 29.9 %Eliminations (9,483)(7,188)(2,295)31.9 %Total operating revenue$48,765$42,273$6,492 15.4 %Operating Gain (Loss)Health Benefits$2,217$2,287$(70)(3.1)%CarelonRx60252379 15.1 %Carelon Services491290201 69.3 %Corporate & Other(140)(