Company: ELV
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001156039-25-000114
Chunk: 22

Company: Elevance Health, Inc.
Filing Date: 2025-07-17
Form: 10-Q
Item: Item 8
Chunk 22
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 $(52)25 $330 $(33)Government sponsored securities10 89 (2)3642 (3)Foreign government securities2 15 (1)22 (1)States, municipalities and political subdivisions, tax-exempt5271,092 (22)661943 (101)Corporate securities1,4154,717 (92)1,3172,645 (275)Residential mortgage-backed securities3061,097 (25)1,3121,291 (211)Commercial mortgage-backed securities136670 (15)297661 (45)Other asset-backed securities123293 (9)236735 (83)Total fixed maturity securities2,559 $9,213 $(218)3,886 $6,649 $(752)

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Unrealized losses on our securities shown in the table above have not been recognized into income because, as of June 30, 2025, we do not intend to sell these investments and it is likely that we will not be required to sell these investments prior to their anticipated recovery. The declines in fair values are largely due to elevated interest rates driven by the higher rate of inflation and other market conditions.Allowances for credit losses have been recorded in the amount of $15 and $6 at June 30, 2025 and December 31, 2024, respectively, for declines in fair value due to unfavorable changes in the credit quality characteristics that impact our assessment of collectability of principal and interest.The amortized cost and fair value of fixed maturity securities at June 30, 2025, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations.AmortizedCostEstimatedFair ValueDue in one year or less$295 $294 Due after one year through five years4,704 4,712 Due after five years through ten years10,364 10,454 Due after ten years6,023 5,878 Mortgage-backed securities5,204 5,047 Total fixed maturity securities$26,590 $26,385 Equity Securities A summary of current equity securities at June 30, 2025 and December 31, 2024 is as follows: June 30, 2025December 31, 2024Equity securities:Exchange traded funds$834