Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 194

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 194
---
 As of December 31, 2024, the IRS examination of our 2024, 2023 and 2022 tax years continues to be in process.In certain states, we pay premium taxes in lieu of state income taxes. Premium taxes are reported in operating expense.At December 31, 2024, we had federal net operating loss carryforwards of $54, of which $33 will expire beginning 2032 through 2044 and $21 have an indefinite carryforward period. State and local net operating loss carryforwards of $256, of which $194 will expire beginning 2025 through 2044, and $62 have an indefinite carryforward period. Foreign net operating loss carryforward of $90 will expire beginning 2033.Income taxes receivable totaled $138 and $543 at December 31, 2024 and 2023, respectively. We recognized the income tax receivable of $213 and $543 as an asset under the caption “Other current assets” and the income tax payable of $75 and $0 as a liability under the caption “Other current liabilities” in our consolidated balance sheets as of December 31, 2024 and December 31, 2023, respectively.During 2024, 2023 and 2022, federal income taxes paid totaled $1,303, $1,936 and $1,594, respectively.

9. Property and Equipment

A summary of property and equipment at December 31, 2024 and 2023 is as follows:20242023Computer software, purchased and internally developed$6,617 $6,195 Computer equipment, furniture and other equipment940 955 Leasehold improvements744 715 Building and improvements27 37 Land and improvements1 1 Property and equipment, gross8,329 7,903 Accumulated depreciation and amortization(3,677)(3,544)Property and equipment, net$4,652 $4,359 

 -105-

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

Depreciation expense for 2024, 2023 and 2022 was $105, $107 and $123, respectively. Amortization expense on computer software and leasehold improvements for 2024, 2023 and 2022 was $809, $765 and $661, respectively, which includes amortization expense on computer software, both purchased and internally developed, for 2024