Company: ELV
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001156039-25-000057
Chunk: 23

Company: Elevance Health, Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 8
Chunk 23
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 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 March 31, 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$196 $196 Due after one year through five years4,685 4,647 Due after five years through ten years10,620 10,578 Due after ten years5,918 5,785 Mortgage-backed securities5,464 5,291 Total fixed maturity securities$26,883 $26,497 Equity Securities A summary of current equity securities at March 31, 2025 and December 31, 2024 is as follows: March 31, 2025December 31, 2024Equity securities:Exchange traded funds$621 $1,002 Common equity securities32 118 Private equity securities62 72 Total$715 $1,192 Other Invested Assets At March 31, 2025, “Other invested assets” include non-controlled joint ventures, including our minority interest ownership of approximately 40% of Augusta Topco Holdings, L.P. (“Mosaic Health”) and our 40% minority interest ownership of Project Freedom Holdings, LLC, which is the ultimate parent of LIBERTY Dental Plan Corporation (“Liberty Dental”).On August 6, 2024, we made an investment of $2,580, consisting of cash and the net put option discussed in Note 6, “Derivative Financial Instruments”. Mosaic Health is a joint venture with Clayton, Dubilier & Rice (“CD&R”) that is designed to accelerate innovation in care delivery across multiple regions in the United States by bringing together certain care delivery and enablement assets of Carelon Management Services Inc. (“CMSI Assets”), a Carelon Health business, and two CD&R portfolio businesses, apree health and Millennium Physician Group. The investment is accounted for as an equity method investment. Our additional contribution of the CMSI Assets to Mosaic Health was completed on January 1, 2025, for which we received an additional $300 of equity (approximately 5% ownership) in Mosaic Health.

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In connection with our equity method investment in Mosaic Health,