Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Elevance Health Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Premiums 144,166 142,854 133,229 117,373 104,109
Product revenue 22,630 19,452 14,978 12,657 10,384
Service fees 8,408 7,903 7,453 6,913 6,315
Operating revenue 175,204 170,209 155,660 136,943 120,808
Benefit expense (127,567) (124,330) (116,487) (102,645) (88,045)
Cost of products sold (19,750) (17,293) (13,035) (10,895) (8,953)
Cost of operating revenue (147,317) (141,623) (129,522) (113,540) (96,998)
Gross profit 27,887 28,586 26,138 23,403 23,810
Operating expense (20,025) (20,087) (17,686) (15,914) (17,450)
Amortization of other intangible assets (580) (885) (767) (441) (361)
Operating income 7,282 7,614 7,685 7,048 5,999
Fixed maturity securities 1,539 1,387 971 755 725
Equity securities 40 18 48 43 71
Cash equivalents 235 305 77 5 28
Other invested assets 274 157 432 616 91
Investment income 2,088 1,867 1,528 1,419 915
Investment expense (37) (42) (43) (41) (38)
Net investment income 2,051 1,825 1,485 1,378 877
Net gains (losses) on financial instruments (445) (694) (550) 318 182
Gain on sale of business 201
Interest expenses (1,185) (1,030) (851) (798) (784)
Loss on extinguishment of debt (21) (36)
Income before income tax expense 7,904 7,715 7,769 7,925 6,238
Income tax expense (1,933) (1,724) (1,750) (1,830) (1,666)
Net income 5,971 5,991 6,019 6,095 4,572
Net (gain) loss attributable to noncontrolling interests 9 (4) 6 9
Shareholders’ net income 5,980 5,987 6,025 6,104 4,572

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Income statement item Description The company
Operating revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Elevance Health Inc. operating revenue increased from 2022 to 2023 and from 2023 to 2024.
Operating income The net result for the period of deducting operating expenses from operating revenues. Elevance Health Inc. operating income decreased from 2022 to 2023 and from 2023 to 2024.
Income before income tax expense Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Elevance Health Inc. income before income tax expense decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Shareholders’ net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Elevance Health Inc. shareholders’ net income decreased from 2022 to 2023 and from 2023 to 2024.