Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 66

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 66
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 11.1 %CarelonRx10,9979,14331,75625,9841,854 20.3 %5,772 22.2 %Carelon Services7,3244,63821,30113,1922,686 57.9 %8,109 61.5 %Corporate & Other1497454632375 101.4 %223 69.0 %Eliminations (10,629)(7,414)(30,589)(21,979)(3,215)43.4 %(8,610)39.2 %Total operating revenue$50,087$44,719$148,273$130,215$5,368 12.0 %$18,058 13.9 %Operating Gain (Loss)Health Benefits$601$1,604$4,378$6,036$(1,003)(62.5)%$(1,658)(27.5)%CarelonRx5566191,6941,639(63)(10.2)%55 3.4 %Carelon Services2191841,11068235 19.0 %428 62.8 %Corporate & Other(81)(999)(292)(1,168)918 (91.9)%876 (75.0)%Total operating gain$1,295$1,408$6,890$7,189$(113)(8.0)%$(299)(4.2)%Operating MarginHealth Benefits1.4 %4.2 %3.5 %5.4 %(280) bp(190) bpCarelonRx5.1 %6.8 %5.3 %6.3 %(170) bp(100) bpCarelon Services3.0 %4.0 %5.2 %5.2 %(100) bp0 bpTotal operating margin2.6 %3.1 %4.6 %5.5 %(50) bp(90) bp

bp = basis point; one hundred basis points = 1%.

The following table summarizes the operating revenues for our Commercial, Medicare, Medicaid and FEP® lines of business within our Health Benefits segment for the three and nine months ended September 30, 2025 and 2024:

Three Months Ended  September 30Nine Months Ended  September 30Three