The proceeds from these issues are expected to be used for general corporate purposes, including repayment of outstanding upcoming debt maturities and merger and acquisition activities. At first quarter 2024, the company had approximately $1.4 billion of commercial paper outstanding and debt maturities that totaled over $26 billion. Financial leverage as measured by AM Best was slightly over 41% as the debt issuances increased the ratio. However, Elevance Health manages its financial leverage to 40% on a long-term basis with some variation based on timing of debt repayment, and planned capital deployment, such as acquisition activity. Furthermore, Elevance Health has demonstrated strong interest coverage and operating cash flows, with a consistent growth trend in revenues and earnings. Additionally, non-regulated cash flows are solid for the organization and support the financial flexibility for the organization.