Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Elevance Health Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	5,991)	6,019)	6,095)	4,572)	4,807)
Net (gains) losses on financial instruments	694)	550)	(318)	(182)	(67)
Equity in net (earnings) losses of other invested assets	33)	(293)	(562)	(51)	(93)
Depreciation and amortization	1,745)	1,675)	1,302)	1,154)	1,133)
Deferred income taxes	(602)	(76)	326)	(540)	81)
Impairment of property and equipment	446)	7)	73)	198)	—)
Share-based compensation	289)	264)	255)	283)	294)
Receivables, net	(1,762)	(2,510)	(2,138)	(256)	(1,053)
Other invested assets	(79)	11)	(70)	(32)	(48)
Other assets	(675)	120)	37)	(283)	(170)
Policy liabilities	147)	2,254)	2,597)	3,528)	1,826)
Unearned income	290)	(42)	(113)	202)	115)
Accounts payable and other liabilities	1,640)	824)	719)	1,978)	(445)
Income taxes	(103)	(338)	140)	72)	(325)
Other, net	7)	(66)	21)	45)	6)
Changes in operating assets and liabilities	(535)	253)	1,193)	5,254)	(94)
Adjustments to reconcile net income to net cash provided by operating activities	2,070)	2,380)	2,269)	6,116)	1,254)
Net cash provided by operating activities	8,061)	8,399)	8,364)	10,688)	6,061)
Purchases of investments	(16,236)	(24,946)	(18,669)	(19,492)	(22,954)
Proceeds from sale of investments	10,596)	11,988)	10,269)	11,318)	18,598)
Maturities, calls and redemptions from investments	2,940)	10,620)	4,344)	4,741)	2,437)
Changes in securities lending collateral	78)	(301)	(956)	(849)	254)
Purchases of subsidiaries, net of cash acquired	(1,552)	(649)	(3,476)	(1,976)	—)
Purchases of property and equipment	(1,296)	(1,152)	(1,087)	(1,021)	(1,077)
Other, net	(102)	(120)	(63)	(45)	(50)
Net cash used in investing activities	(5,572)	(4,560)	(9,638)	(7,324)	(2,792)
Proceeds from long-term borrowings	2,574)	3,071)	3,462)	2,484)	2,473)
Repayments of long-term borrowings	(1,909)	(1,899)	(1,068)	(1,932)	(1,123)
Proceeds from short-term borrowings	225)	1,365)	1,375)	970)	7,590)
Repayments of short-term borrowings	(265)	(1,675)	(1,050)	(1,820)	(8,332)
Changes in securities lending payable	(77)	302)	956)	849)	(254)
Changes in bank overdrafts	114)	933)	(376)	486)	—)
Repurchase and retirement of common stock	(2,676)	(2,316)	(1,900)	(2,700)	(1,701)
Cash dividends	(1,395)	(1,229)	(1,104)	(954)	(818)
Proceeds from issuance of common stock under employee stock plans	152)	182)	203)	176)	187)
Taxes paid through withholding of common stock under employee stock plans	(99)	(93)	(102)	(128)	(84)
Other, net	7)	41)	27)	2)	(204)
Net cash provided by (used in) financing activities	(3,349)	(1,318)	423)	(2,567)	(2,266)
Effect of foreign exchange rates on cash and cash equivalents	(1)	(14)	(10)	7)	—)
Change in cash and cash equivalents	(861)	2,507)	(861)	804)	1,003)
Cash and cash equivalents at beginning of year	7,387)	4,880)	5,741)	4,937)	3,934)
Cash and cash equivalents at end of year	6,526)	7,387)	4,880)	5,741)	4,937)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Elevance Health Inc. net cash provided by operating activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Elevance Health Inc. net cash used in investing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Elevance Health Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 and from 2022 to 2023.

Elevance Health Inc. (NYSE:ELV)

Cash Flow Statement