Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 190

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 190
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 their amortized cost. The fair value of notes receivables is the present value of discounted future cash flows.

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

Short-term borrowings: The fair value of our short-term borrowings is based on quoted market prices for the same or similar debt, or if no quoted market prices were available, on the current market interest rates estimated to be available to us for debt of similar terms and remaining maturities.Long-term debt—senior unsecured notes and surplus notes: The fair values of our notes are based on quoted market prices in active markets for the same or similar debt, or, if no quoted market prices are available, on the current market observable rates estimated to be available to us for debt of similar terms and remaining maturities.Options: The options consist of put, call and purchase price true-up options associated with our equity investment in the Mosaic Health joint venture and the put and call options associated with our equity investment in Liberty Dental. The fair value of the net put option associated with Mosaic Health is based on a Monte Carlo simulation, which relies on assumptions including cash flow projections, risk-free rates, volatility and details specific to the options. The fair value of the net put option associated with Liberty Dental is based on the discounted present value of estimated future option exercise prices.A summary of the estimated fair values by level of each class of financial instrument that is recorded at its carrying value on our consolidated balance sheets at December 31, 2024 and 2023 is as follows: CarryingValueEstimated Fair Value Level ILevel IILevel IIITotalDecember 31, 2024Assets:Other invested assets$642 $— $— $610 $610 Liabilities:Debt:Short-term borrowings365 — 365 — 365 Notes30,867 — 28,460 — 28,460 Options1,415 — — 1,873 1,873 December 31, 2023Assets:Other invested assets$302 $— $— $278 $278 Liabilities:Debt:Short-term borrowings225 — 225 — 225 Notes24,895 — 23,569 — 23,569 Options85 — — 85 85 

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