Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 71

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 71
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 from the issuance of common stock under our employee stock plans. Cash disbursements result mainly from claims payments, operating expenses, taxes, purchases of investment securities, interest expense, payments on borrowings, acquisitions, capital expenditures, repurchases of our debt securities and common stock and the payment of cash dividends. Cash outflows fluctuate with the amount and timing of settlement of these transactions. Any future decline in our profitability would likely have an unfavorable impact on our liquidity.

For a more detailed overview of our liquidity and capital resources management, see the “Introduction” section included in the “Liquidity and Capital Resources” section of Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our 2024 Annual Report on Form 10-K.

For additional information regarding our sources and uses of capital during the three and nine months ended September 30, 2025, see Note 5, “Investments,” Note 6, “Derivative Financial Instruments,” Note 10, “Debt,” and Note 12, “Capital Stock – Use of Capital – Dividends and Stock Repurchase Program,” 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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Liquidity

A summary of our major sources and uses of cash and cash equivalents for the nine months ended September 30, 2025 and 2024 is as follows:

 Nine Months Ended  September 30 20252024ChangeSources of Cash:Net cash provided by operating activities$4,206 $5,102 $(896)Proceeds from the sale of subsidiaries, net of cash sold— 399 (399)Purchases of subsidiaries, net of cash acquired55 — 55 Issuances of short- and long-term debt, net of repayments659 1,915 (1,256)Changes in securities lending payable576 158 418 Proceeds from issuance of common stock under employee stock plans21 205 (184)Changes in bank overdrafts77 — 77 Total sources of cash5,594 7,779 (2,185)Uses of Cash:Purchases of investments, net of proceeds from sales, maturities, calls and redemptions(412)(1,614)1,202 Purchases of subsidiaries, net of cash acquired— (1,124)1,124 Repurchase and