Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 176

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 176
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,867 1,528 Investment expenses(37)(42)(43)Net investment income$2,051 $1,825 $1,485 Investment (Losses) GainsNet investment (losses) gains for the years ended December 31, 2024, 2023 and 2022 are as follows:202420232022Net gains (losses):Fixed maturity securities:Gross realized gains from sales$158 $47 $52 Gross realized losses from sales(479)(488)(469)Impairment losses recognized in income(17)(15)(31)Net realized losses on fixed maturity securities(338)(456)(448)Equity securities:Unrealized losses recognized on equity securities still held(6)(1)(78)Net realized (losses) gains recognized on equity securities sold(9)6 (102)Net (losses) gains on equity securities(15)5 (180)Other investments:Gross gains49 103 96 Gross losses(25)(63)(64)Impairment losses recognized in income(126)(291)(34)Net losses on other investments(102)(251)(2)Net losses on investments$(455)$(702)$(630)A primary objective in the management of our fixed maturity and equity portfolios is to maximize total return relative to underlying liabilities and respective liquidity needs. In achieving this goal, assets may be sold to take advantage of market conditions or other investment opportunities as well as tax considerations. Sales will generally produce realized gains and losses. In the ordinary course of business, we may sell securities at a loss for a number of reasons, including, but not limited 

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

to: (i) changes in the investment environment; (ii) expectations that the fair value could deteriorate further; (iii) desire to reduce exposure to an issuer or an industry; (iv) changes in credit quality; or (v) changes in expected cash flow.Total proceeds from sales, maturities, calls or redemptions of fixed maturity securities were $16,334, $12,289 and $22,048 for the years ended December 31, 2024, 2023 and 2022, respectively.A significant judgment in the valuation of investments is the determination of when a credit loss has occurred. We follow a consistent and systematic process for recognizing impair