Stock Analysis on Net
Stock Analysis on Net
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Elevance Health Inc. (NYSE:ELV)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

Microsoft Excel
Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 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
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
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 loss
Shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).

Total liabilities and total equity both exhibit a sustained upward trajectory over the observed period from March 2021 through June 2026. Total liabilities increased from 61,765 million USD to 81,416 million USD, while total equity rose from 33,918 million USD to 45,022 million USD. This simultaneous expansion indicates a significant increase in the overall scale of the balance sheet, with total liabilities and equity growing from 95,683 million USD to 126,438 million USD.

Liability Structure and Current Obligations
Current liabilities grew from 34,749 million USD in March 2021 to 44,254 million USD by June 2026. A primary driver of this increase is medical claims payable, which rose steadily from 12,347 million USD to 18,463 million USD, suggesting an increase in the volume or value of healthcare claims awaiting settlement. Other policyholder liabilities showed more volatility, peaking at 6,098 million USD in March 2023 before declining to 3,463 million USD by June 2026. Unearned income exhibited significant fluctuations, with notable spikes in September 2022 and June 2023, before stabilizing around 1,640 million USD.
Long-Term Debt and Noncurrent Liabilities
Noncurrent liabilities increased from 27,016 million USD to 37,162 million USD. This growth is largely attributed to long-term debt, which rose from 22,534 million USD in March 2021 to 30,669 million USD by June 2026. The current portion of long-term debt has remained volatile, reflecting varying refinancing cycles and repayment schedules, with a peak of 3,097 million USD in March 2022 and 2,900 million USD in December 2023. Short-term borrowings remained relatively low for most of the period, though a temporary surge to 1,575 million USD occurred in December 2023.
Equity Evolution and Retained Earnings
Total equity expanded from 33,918 million USD to 45,022 million USD. The most consistent driver of this growth was retained earnings, which increased from 24,793 million USD in March 2021 to 36,675 million USD by June 2026, indicating strong cumulative profitability. Additional paid-in capital remained relatively stable, fluctuating slightly around the 9,000 million USD mark. Accumulated other comprehensive loss showed significant volatility, reaching a low of -2,784 million USD in September 2022 before recovering to -711 million USD by the end of the period.
Financial Leverage and Stability
The ratio of total liabilities to total equity remained relatively stable despite the growth in absolute values. In March 2021, the ratio was approximately 1.82, and by June 2026, it stood at approximately 1.81. This suggests that the organization maintained a consistent capital structure and leverage profile while expanding its balance sheet. The growth in equity has effectively paced the growth in total liabilities, preserving the long-term solvency profile.