Elevance Health Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	5,662	5,980	5,987	5,894	6,158
Depreciation & Amortization	1,546	659	1,060	1,076	817
Other Amortization	-	734	685	599	485
Gain (Loss) on Sale of Assets	-	-201	-	-	-
Stock-Based Compensation	276	191	289	264	255
Change in Accounts Receivable	-	-683	-1,762	-2,510	-2,138
Change in Accounts Payable	-	-272	1,640	824	719
Change in Unearned Revenue	-	-113	290	-42	-113
Change in Income Taxes	-	404	-103	-338	140
Change in Insurance Reserves / Liabilities	-	-1,840	147	2,411	2,523
Change in Other Net Operating Assets	-3,680	785	-747	78	-8
Other Operating Activities	486	62	96	429	15
Operating Cash Flow	4,290	5,808	8,061	8,399	8,364
Operating Cash Flow Growth	-26.14%	-27.95%	-4.02%	0.42%	-21.74%
Capital Expenditures	-1,116	-1,256	-1,296	-1,152	-1,087
Cash Acquisitions	88	-4,809	-1,552	-649	-3,476
Investment in Securities	69	586	-2,700	-2,338	-4,056
Other Investing Activities	-385	-51	-24	-421	-1,019
Investing Cash Flow	-1,344	-5,167	-5,572	-4,560	-9,638
Short-Term Debt Issued	-	275	339	2,298	2,331
Long-Term Debt Issued	629	7,710	2,574	3,373	3,462
Total Debt Issued	629	7,985	2,913	5,671	5,793
Total Debt Repaid	-	-2,498	-2,251	-3,574	-2,494
Net Debt Issued (Repaid)	629	5,487	662	2,097	3,299
Issuance of Common Stock	-	221	152	182	203
Repurchases of Common Stock	-2,605	-3,009	-2,775	-2,409	-2,002
Common Dividends Paid	-1,529	-1,508	-1,395	-1,229	-1,104
Other Financing Activities	1,767	2	7	41	27
Financing Cash Flow	-1,738	1,193	-3,349	-1,318	423
Foreign Exchange Rate Adjustments	-5	-6	-1	-14	-10
Miscellaneous Cash Flow Adjustments	-	-66	-	-	-
Net Cash Flow	1,203	1,762	-861	2,507	-861
Free Cash Flow	3,174	4,552	6,765	7,247	7,277
Free Cash Flow Growth	-30.27%	-32.71%	-6.65%	-0.41%	-24.72%
Free Cash Flow Margin	1.59%	2.57%	3.95%	4.63%	5.25%
Free Cash Flow Per Share	14.13	19.55	28.50	29.85	29.48
Cash Interest Paid	-	1,239	1,032	878	822
Cash Income Tax Paid	-	1,303	1,936	1,594	1,299
Levered Free Cash Flow	3,555	6,846	3,005	8,425	3,614
Unlevered Free Cash Flow	4,431	7,586	3,649	8,960	4,115
Change in Working Capital	-3,680	-1,719	-535	423	1,123

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.