ELV · 10-Q · 2026Q2 · Full report

Outstanding Indebtedness and Ratings

Elevance Health, Inc. · 2026-07-15 · Importance 48 · Surprise 14 · In source text

Elevance reports and monitors its consolidated debt-to-capital ratio as a key leverage metric; the ratio was 40.8% at June 30, 2026 compared with 42.1% at December 31, 2025. The company issues long-term Notes periodically to refinance debt, finance acquisitions or fund share repurchases; some Notes may include call or put features tied to change-in-control or rating events. Senior debt is investment grade (rated A- by S&P, BBB+ by Fitch, Baa2 by Moody’s and bbb+ by AM Best), and management intends to maintain these ratings to preserve access and cost of capital.

Key facts

• Our consolidated debt-to-capital ratio was 40.8% as of June 30, 2026 and 42.1% as of December 31, 2025. source
• Repayments of short- and long-term debt, net of issuances, for the six months ended June 30, 2026: $(900) and for the six months ended June 30, 2025: $(1,255). source
• Other expense decreased primarily due to a decrease in amortization of other intangible assets due to assets being amortized under an accelerated depreciation method, partially offset by an increase in interest expense. source
• Our senior debt is rated "A-" by S&P Global Ratings, "BBB+" by Fitch Ratings, Inc., "Baa2" by Moody’s Investor Service, Inc. and "bbb+" by AM Best Company, Inc. source

Impact estimates