Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 26

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 26
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 Dental of $127 and $87 is included in the caption “Other invested assets” in our consolidated balance sheets at September 30, 2025 and December 31, 2024, respectively. Dividend income recognized from the financing arrangement during the nine months ended September 30, 2025 and the year ended December 31, 2024 was not material. During the three and nine months ended September 30, 2025, in the normal course of business, Liberty Dental provided services to our Medicare Advantage members under a capitated arrangement amounting to $149 and $441, respectively, reported in benefit expense.Investment Gains (Losses)Net investment gains (losses) for the three and nine months ended September 30, 2025 and 2024 are as follows:Three Months Ended  September 30Nine Months Ended  September 302025202420252024Net gains (losses):Fixed maturity securities:Gross realized gains from sales$39 $53 $88 $92 Gross realized losses from sales(51)(107)(195)(354)Impairment losses recognized in income— (9)(10)(13)Net realized losses from sales of fixed maturity securities(12)(63)(117)(275)Equity securities:Unrealized gains recognized on equity securities still held at the end of the period8 3 2 4 Net realized losses recognized on equity securities sold during the period(7)(3)(9)(4)Net losses on equity securities1 — (7)— Other investments:Gross gains28 35 41 45 Gross losses— — (100)(25)Other realized losses recognized in income(17)(98)(411)(124)Net losses on other investments11 (63)(470)(104)Net losses on investments$— $(126)$(594)$(379)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 

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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 to: (i) changes in the investment environment; (ii) expectations that the fair value could deteriorate further; (