Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 185

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 185
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 trust.Life insurance contracts: Fair value is based on the cash surrender value of the policies as reported by the insurance carriers.

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

A summary of fair value measurements by level for assets and liabilities measured at fair value on a recurring basis at December 31, 2024 and 2023 is as follows:Level ILevel IILevel IIITotalDecember 31, 2024Assets:Cash equivalents$3,199 $— $— $3,199 Fixed maturity securities, available-for-sale:United States Government securities— 1,824 — 1,824 Government sponsored securities— 151 — 151 Foreign government securities— 17 — 17 States, municipalities and political subdivisions, tax-exempt— 3,052 — 3,052 Corporate securities— 13,873 43 13,916 Residential mortgage-backed securities— 3,041 10 3,051 Commercial mortgage-backed securities— 1,748 — 1,748 Other asset-backed securities— 1,730 747 2,477 Total fixed maturity securities, available-for-sale— 25,436 800 26,236 Equity securities:Exchange traded funds1,002 — — 1,002 Common equity securities87 31 — 118 Private equity securities— — 72 72 Total equity securities1,089 31 72 1,192 Other invested assets - common equity securities18 — — 18 Securities lending collateral— 2,306 — 2,306 Derivatives - other assets— 5 — 5 Total assets$4,306 $27,778 $872 $32,956 Liabilities:Derivatives - other liabilities$— $(150)$— $(150)Total liabilities$— $(150)$— $(150)December 31, 2023Assets:Cash equivalents$2,210 $— $— $2,210 Fixed maturity securities, available-for-sale:United States Government securities— 1,844 — 1,844 Government sponsored securities— 110 — 110 Foreign government securities— 4 — 4 States, municipalities and political subdivisions, tax-exempt— 3,902