Company: ELV
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001156039-25-000057
Chunk: 33

Company: Elevance Health, Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 8
Chunk 33
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 expense1,024 1,043 Benefit expense$35,312 $30,546 Net incurred medical claims under certain performance-based risk arrangements that include gain or loss sharing components do not require a medical claim payable liability.The reconciliation of the medical claims payable reflected in the tables above to the consolidated ending balance for medical claims payable included in the consolidated balance sheets, as of March 31, 2025 is as follows:TotalNet medical claims payable, end of period$16,515 Ceded medical claims payable, end of period14 Insurance lines other than short duration283 Gross medical claims payable, end of period$16,812 

10.     Debt

We generally issue senior unsecured notes for long-term borrowing purposes. At March 31, 2025 and December 31, 2024, we had $29,728 and $30,842, respectively, outstanding under these notes.We have an unsecured surplus note with an outstanding principal balance of $25 at both March 31, 2025 and December 31, 2024.We have a senior revolving credit facility (the “5-Year Facility”) with a group of lenders for general corporate purposes. The 5-Year Facility provides credit of up to $4,000 and matures in April 2027. Our ability to borrow under the 5-Year Facility is subject to compliance with certain covenants, including covenants requiring us to maintain a defined debt-to-capital ratio of not more than 60%, subject to increase in certain circumstances set forth in the credit agreement for the 5-Year Facility. As of March 31, 2025, our debt-to-capital ratio, as defined and calculated under the 5-Year Facility, was 41.3%. We do not believe the restrictions contained in our 5-Year Facility covenants materially affect our financial or operating flexibility. As of March 31, 2025, we were in compliance with all of our debt covenants under the 5-Year Facility. There were no amounts outstanding under the 5-Year Facility at any time during the three months ended March 31, 2025 or during the year ended December 31, 2024.We have an authorized commercial paper program of up to $4,000, the proceeds of which may be used for general corporate purposes. We had no amounts outstanding under this program at both March 31, 2025 and December 31, 2024.We are a member,