Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 27

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 8
Chunk 27
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iii) desire to reduce exposure to an issuer or an industry; (iv) changes in credit quality; or (v) changes in expected cash flow.During the three and nine months ended September 30, 2025, we received total proceeds from sales, maturities, calls or redemptions of fixed maturity securities of $2,738 and $8,759, respectively. During the three and nine months ended September 30, 2024, we received total proceeds from sales, maturities, calls or redemptions of fixed maturity securities of $3,870 and $12,284, respectively.Accrued Investment IncomeAt September 30, 2025 and December 31, 2024, accrued investment income totaled $280 and $287, respectively. We recognize accrued investment income under the caption “Other receivables” on our consolidated balance sheets.Securities Lending ProgramsThe fair value of the cash and securities received as collateral for securities loaned at September 30, 2025 and December 31, 2024 was $2,881 and $2,305, respectively. The collateral received was 102% of the market value of the loaned securities at each of September 30, 2025 and December 31, 2024.We recognize the collateral as an asset under the caption “Other current assets” in our consolidated balance sheets, and we recognize a corresponding liability for the obligation to return the collateral to the borrower under the caption “Other current liabilities.” The securities on loan are reported in the applicable investment category on our consolidated balance sheets.At September 30, 2025 and December 31, 2024, the remaining contractual maturities of our securities lending transactions included overnight and continuous transactions of cash for $2,711 and $2,115, respectively, United States Government securities for $170 and $176, respectively, and residential mortgage-backed securities for $0 and $14, respectively.

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6.    Derivative Financial Instruments

We use derivative financial instruments to manage interest rate and foreign exchange risk and credit exposure. We primarily invest in the following types of derivative financial instruments: interest rate swaps, futures, forward contracts, put and call options, collars, swaptions, embedded derivatives and warrants. We also enter into master netting agreements, which reduce credit risk by permitting net settlement of transactions. We received collateral of $66 and posted collateral of $142 related to our derivative financial instruments at September 30