Income Statement
CENTENE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except shares in thousands and per share data in dollars) (Unaudited) |
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Three Months Ended |
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Six Months Ended |
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2024 |
|
2023 |
|
2024 |
|
2023 |
Revenues: |
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|
|
|
|
|
|
Premium |
$ 35,140 |
|
$ 33,713 |
|
$ 70,669 |
|
$ 67,538 |
Service |
833 |
|
1,125 |
|
1,641 |
|
2,252 |
Premium and service revenues |
35,973 |
|
34,838 |
|
72,310 |
|
69,790 |
Premium tax |
3,863 |
|
2,770 |
|
7,933 |
|
6,707 |
Total revenues |
39,836 |
|
37,608 |
|
80,243 |
|
76,497 |
Expenses: |
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|
|
|
|
|
|
Medical costs |
30,765 |
|
29,347 |
|
61,697 |
|
58,781 |
Cost of services |
680 |
|
877 |
|
1,349 |
|
1,747 |
Selling, general and administrative expenses |
2,894 |
|
3,016 |
|
6,112 |
|
6,027 |
Depreciation expense |
133 |
|
146 |
|
268 |
|
288 |
Amortization of acquired intangible assets |
173 |
|
179 |
|
346 |
|
362 |
Premium tax expense |
3,962 |
|
2,854 |
|
8,123 |
|
6,865 |
Impairment |
— |
|
18 |
|
13 |
|
38 |
Total operating expenses |
38,607 |
|
36,437 |
|
77,908 |
|
74,108 |
Earnings from operations |
1,229 |
|
1,171 |
|
2,335 |
|
2,389 |
Other income (expense): |
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|
|
|
|
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Investment and other income |
463 |
|
425 |
|
1,008 |
|
778 |
Interest expense |
(176) |
|
(181) |
|
(354) |
|
(361) |
Earnings before income tax |
1,516 |
|
1,415 |
|
2,989 |
|
2,806 |
Income tax expense |
370 |
|
360 |
|
685 |
|
621 |
Net earnings |
1,146 |
|
1,055 |
|
2,304 |
|
2,185 |
Loss attributable to noncontrolling interests |
— |
|
3 |
|
5 |
|
3 |
Net earnings attributable to Centene Corporation |
$ 1,146 |
|
$ 1,058 |
|
$ 2,309 |
|
$ 2,188 |
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Net earnings per common share attributable to Centene Corporation: |
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Basic earnings per common share |
$ 2.16 |
|
$ 1.93 |
|
$ 4.34 |
|
$ 3.98 |
Diluted earnings per common share |
$ 2.16 |
|
$ 1.92 |
|
$ 4.32 |
|
$ 3.96 |
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Weighted average number of common shares outstanding: |
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|
|
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|
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Basic |
529,602 |
|
548,932 |
|
532,385 |
|
549,850 |
Diluted |
530,755 |
|
550,308 |
|
534,517 |
|
551,996 |