Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 195

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 195
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, 2023 and 2022 of $734, $685 and $599, respectively. Capitalized costs related to the internal development of software of $6,363 and $5,870 at December 31, 2024 and 2023, respectively, are reported with computer software.

Impairment of property and equipment for the years ended December 31, 2024, 2023 and 2022 was $72, $446, and $7, respectively, which is included in Operating expenses and primarily related to our activities disclosed in Note 4, “Business Optimization Initiatives.” 

10. Goodwill and Other Intangible Assets

A summary of the change in the carrying amount of goodwill for our segments (see Note 20, “Segment Information”) for 2024 and 2023 is as follows:Health BenefitsCarelonRxCarelon ServicesTotalBalance as of January 1, 2023$22,088 $59 $2,236 $24,383 Acquisitions and adjustments16 898 20 934 Balance as of December 31, 202322,104 957 2,256 25,317 Acquisitions and adjustments460 958 1,542 2,960 Balance as of December 31, 2024$22,564 $1,915 $3,798 $28,277 Accumulated impairment as of December 31, 2024$— $— $(106)$(106)As required by FASB guidance, we completed annual impairment tests of existing goodwill and other intangible assets with indefinite lives during 2024, 2023 and 2022. We perform these annual impairment tests during the fourth quarter. FASB guidance also requires interim impairment testing to be performed when potential impairment indicators exist. These tests involve the use of estimates related to the estimated fair value of goodwill and intangible assets with indefinite lives and require a significant degree of management judgment and the use of subjective assumptions. Qualitative testing procedures include assessing our financial performance, macroeconomic conditions, industry and market considerations, various asset specific factors and entity specific events. For quantitative testing, the fair values are estimated using the projected income and market valuation approaches, incorporating Level III internal estimates for inputs, including, but not limited to, revenue projections, income projections, cash flows and discount rates. In 2024, we incurred goodwill impairment losses of $106 in our Carelon Services reporting segment