Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 93

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 2
Chunk 93
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14.0 %Operating expense5,2725,26915,56915,2213 0.1 %348 2.3 %Other expense1 5134221,5001,24591 21.6 %255 20.5 %Total expenses49,30543,733142,883124,2715,572 12.7 %18,612 15.0 %Income before income tax expense1,4061,3736,4957,29833 2.4 %(803)(11.0)%Income tax expense2193651,3801,740(146)(40.0)%(360)(20.7)%Net income1,1871,0085,1155,558179 17.8 %(443)(8.0)%Net loss attributable to noncontrolling interests28—4(6)NM(4)NMShareholders’ net income$1,189$1,016$5,115$5,562$173 17.0 %$(447)(8.0)%Average diluted shares outstanding223.7233.1225.6233.6(9.4)(4.0)%(8.0)(3.4)%Diluted shareholders’ earnings per share$5.32$4.36$22.67$23.81$0.96 22.0 %$(1.14)(4.8)%Effective tax rate15.6 %26.6 %21.2 %23.8 %(1100) bp3(260) bp3Benefit expense ratio291.3 %89.5 %88.9 %87.2 %180 bp3170 bp3Operating expense ratio410.5 %11.8 %10.5 %11.7 %(130) bp3(120) bp3Income before income tax expense as a percentage of total revenues2.8 %3.0 %4.3 %5.5 %(20) bp3(120) bp3Shareholders’ net income as a percentage of total revenues2.3 %2.2 %3.4 %4.2 %10 bp3(80) bp3

Certain of the following definitions are also applicable to all other results of operations tables in this discussion:

NM    Not meaningful.

1    Includes interest expense and