Stock Analysis on Net
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Elevance Health Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Medical claims payable
Other policyholder liabilities
Unearned income
Accounts payable and accrued expenses
Short-term borrowings
Current portion of long-term debt
Other current liabilities
Liabilities held for sale
Current liabilities
Long-term debt, less current portion
Reserves for future policy benefits
Deferred tax liabilities, net
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Preferred stock, without par value; shares issued and outstanding: none
Common stock, par value $0.01
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Medical claims payable
The percentage of total liabilities and equity attributed to medical claims payable generally increased from 12.02% in March 2020 to a peak above 15% in late 2022, before declining moderately to about 14% by mid-2025. This upward trend over most of the period suggests rising obligations related to medical claims.
Other policyholder liabilities
This category rose from around 3.95% in early 2020 to a high of approximately 5.66% in late 2021, followed by a steady decline to below 3% by mid-2025. The downward movement in recent years may indicate improved liability management or changes in policyholder-related obligations.
Unearned income
Unearned income remained relatively low and stable around 1% during most quarters, with notable spikes reaching as high as 4% in early 2023 before retreating again near 1.3% by mid-2025. These fluctuations likely reflect timing differences in revenue recognition.
Accounts payable and accrued expenses
Accounts payable and accrued expenses maintained a proportion near 5-6% of total liabilities and equity, showing some volatility but no clear long-term trend. This indicates a stable but variable level of short-term obligations to suppliers and others.
Short-term borrowings
Short-term borrowings were minimal or missing in several periods but generally low, fluctuating mostly below 0.5%. There was a notable temporary increase to 1.41% in mid-2024, pointing to a brief rise in short-term debt usage.
Current portion of long-term debt
This item showed some volatility, starting near 1.95% in early 2020, peaking over 3% in early 2022, then fluctuating around 1-2.5% in following quarters. The changes suggest varying amounts of long-term debt becoming due within each year.
Other current liabilities
Other current liabilities exhibited an increasing trend from about 6.31% to around 10% by mid-2025, indicating growing short-term obligations not classified elsewhere.
Current liabilities
Current liabilities grew from approximately 33% to near 40% of total liabilities and equity by early 2022, then declined somewhat to about 36% by mid-2025. This reflects a rise in overall short-term obligations during 2020-2022, followed by stabilization.
Long-term debt, less current portion
Long-term debt decreased from above 23% in early 2020 to a low near 19.6% in early 2024, but subsequently increased again above 23% by mid-2025. These shifts indicate periods of debt reduction followed by renewed borrowing or adjustments in capital structure.
Reserves for future policy benefits
This category remained low, decreasing steadily from 0.92% in 2020 to around 0.13% by mid-2025, indicating a gradual reduction in reserved benefits possibly due to changes in actuarial assumptions or claim experience.
Deferred tax liabilities, net
Deferred tax liabilities declined from around 2.7% to about 1.6% by late 2023, then stabilized near this level through mid-2025. The reduction suggests effective tax planning or changes in temporary differences affecting tax obligations.
Other noncurrent liabilities
These liabilities remained relatively stable around 1.5-2.1% until 2023, followed by a significant increase to above 3% by 2025, suggesting growing obligations in less common long-term liabilities.
Noncurrent liabilities
Noncurrent liabilities declined from about 28.7% in early 2020 to roughly 24-25% around early 2023, then increased sharply to nearly 30% by mid-2025. This pattern reflects evolving long-term funding and liability structures.
Total liabilities
Total liabilities stayed in the 60-65% range throughout the period, showing a slight increase during 2021-2023 and stabilizing thereafter. This indicates a consistent leverage level relative to total liabilities and equity.
Additional paid-in capital
Additional paid-in capital showed a declining trend from 11.33% at the start of 2020 to about 7.3% by mid-2025, reflecting potential share repurchase activity or lack of new equity issuance relative to growth in the overall capitalization.
Retained earnings
Retained earnings fluctuated moderately but trended upward from about 28.35% in early 2020 to above 30% around mid-2024, then slightly declined before stabilizing near 29% by mid-2025. This suggests ongoing profitability and earnings retention over the period.
Accumulated other comprehensive income (loss)
The accumulated other comprehensive loss displayed fluctuations with mostly negative values, worsening to nearly -2.7% by late 2022 and gradually improving to about -0.6% by mid-2025, reflecting movements in items like foreign currency translation or securities valuation.
Shareholders’ equity
Shareholders’ equity as a percentage of total liabilities and equity oscillated around 35-39%, showing a general decline from about 38.5% in early 2020 to lower levels near 35% by mid-2023, then recovering modestly toward 36-37% by mid-2025. This indicates moderate fluctuations in the net asset base relative to obligations.
Noncontrolling interests
Noncontrolling interests remained minimal, consistently below 0.15%, indicating limited external ownership stakes in consolidated entities.
Total equity
Total equity mirrored the movement of shareholders' equity, decreasing from roughly 39% in early 2020 to about 34% in early 2023, then recovering to near 36% by mid-2025. This reflects the combined effect of retained earnings and comprehensive income on the equity base.