Company: ELV
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001156039-25-000010
Chunk: 232

Company: Elevance Health, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 232
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 on financial instruments(445)(694)(550)Gain on sale of business201 — — Total revenues$177,011 $171,340 $156,595 A reconciliation of reportable segments’ operating gain to income before income tax expense included in our consolidated statements of income for the years ended December 31, 2024, 2023 and 2022 is as follows:202420232022Income before income tax expense$7,904 $7,715 $7,600 Net investment income(2,051)(1,825)(1,485)Net losses on financial instruments445 694 550 Gain on sale of business(201)— — Interest expense1,185 1,030 851 Amortization of other intangible assets580 885 767 Reportable segments’ operating gain$7,862 $8,499 $8,283 

21. Related Party Transactions

We have an equity investment in APC Passe, LLC, which offers Medicaid products in Arkansas. During the years ended December 31, 2024, 2023 and 2022, in the normal course of business, we assumed premiums of $490, $481 and $501, respectively, from APC Passe, LLC, which is included in our total assumed premiums (see Note 17, “Reinsurance”).In January 2023, we made an equity investment that resulted in our minority interest ownership of Liberty Dental. During the years ended December 31, 2024 and 2023, in the normal course of business, Liberty Dental provided administrative services to our Medicare Advantage members under a capitated arrangement amounting to $519 and $426, respectively, reported in benefit expense.

22. Statutory Information

The majority of our insurance and HMO subsidiaries report their accounts in conformity with accounting practices prescribed or permitted by state insurance regulatory authorities, commonly referred to as statutory accounting, which vary in certain respects from GAAP. However, certain of our insurance and HMO subsidiaries, including Blue Cross of California, Blue Cross of California Partnership Plan, Inc., Carelon Behavioral Health of California, Inc. and Carelon Health of California, Inc. are regulated by the California Department of Managed Health Care (“DMHC”) and report their accounts in conformity with GAAP (these entities are collectively referred to as the “DMHC regulated entities”). Typical differences of GAAP reporting as compared to statutory reporting are the recognition of all assets including those that are