Elevance Health Inc., adjusted current assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Current assets	58,942)	60,029)	55,617)	51,122)	45,751)
Adjustments
Add: Allowance for doubtful accounts	1,683)	1,240)	964)	840)	574)
After Adjustment
Adjusted current assets	60,625)	61,269)	56,581)	51,962)	46,325)

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Elevance Health Inc., adjusted total assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Total assets	116,889)	108,928)	102,772)	97,460)	86,615)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for doubtful accounts	1,683)	1,240)	964)	840)	574)
Less: Deferred tax asset (under the caption Other noncurrent assets)²	206)	228)	137)	103)	—)
After Adjustment
Adjusted total assets	118,366)	109,940)	103,599)	98,197)	87,189)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax asset (under the caption Other noncurrent assets). See details »

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Elevance Health Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Total liabilities	75,463)	69,523)	66,378)	61,332)	53,416)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities, net²	2,148)	1,970)	2,034)	2,805)	2,019)
After Adjustment
Adjusted total liabilities	73,315)	67,553)	64,344)	58,527)	51,397)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities, net. See details »

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Elevance Health Inc., adjusted shareholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Shareholders’ equity	41,315)	39,306)	36,307)	36,060)	33,199)
Adjustments
Less: Net deferred income tax assets (liabilities)¹	(1,942)	(1,742)	(1,897)	(2,702)	(2,019)
Add: Allowance for doubtful accounts	1,683)	1,240)	964)	840)	574)
Add: Noncontrolling interests	111)	99)	87)	68)	—)
After Adjustment
Adjusted total equity	45,051)	42,387)	39,255)	39,670)	35,792)

¹ Net deferred income tax assets (liabilities). See details »

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Elevance Health Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Short-term borrowings	365)	225)	265)	275)	—)
Current portion of long-term debt	1,649)	1,649)	1,500)	1,599)	700)
Long-term debt, less current portion	29,218)	23,246)	22,349)	21,157)	19,335)
Total reported debt	31,232)	25,120)	24,114)	23,031)	20,035)
Shareholders’ equity	41,315)	39,306)	36,307)	36,060)	33,199)
Total reported capital	72,547)	64,426)	60,421)	59,091)	53,234)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Operating leases, lease liabilities, current (located in Other current liabilities)²	153)	164)	181)	133)	110)
Add: Operating leases, lease liabilities, noncurrent (located in Other noncurrent liabilities)³	658)	685)	751)	864)	847)
Adjusted total debt	32,043)	25,969)	25,046)	24,028)	20,992)
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)⁴	(1,942)	(1,742)	(1,897)	(2,702)	(2,019)
Add: Allowance for doubtful accounts	1,683)	1,240)	964)	840)	574)
Add: Noncontrolling interests	111)	99)	87)	68)	—)
Adjusted total equity	45,051)	42,387)	39,255)	39,670)	35,792)
After Adjustment
Adjusted total capital	77,094)	68,356)	64,301)	63,698)	56,784)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating leases, lease liabilities, current (located in Other current liabilities). See details »

³ Operating leases, lease liabilities, noncurrent (located in Other noncurrent liabilities). See details »

⁴ Net deferred income tax assets (liabilities). See details »

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Elevance Health Inc., adjusted shareholders’ net income

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Shareholders’ net income	5,980)	5,987)	6,025)	6,104)	4,572)
Adjustments
Add: Deferred income tax expense (benefit)¹	(361)	(690)	4)	180)	(526)
Add: Increase (decrease) in allowance for doubtful accounts	443)	276)	124)	266)	49)
Add: Other comprehensive income (loss), net of tax	160)	1,171)	(2,336)	(330)	446)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	(15)	(2)	(17)	(11)	—)
After Adjustment
Adjusted net income	6,207)	6,742)	3,800)	6,209)	4,541)

¹ Deferred income tax expense (benefit). See details »

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Elevance Health Inc. (NYSE:ELV)

Adjustments to Financial Statements