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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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Year Ended December 31, |
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2025 |
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2024 |
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2025 |
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2024 |
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Revenues: |
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Premium |
$ 43,978 |
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$ 35,519 |
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$ 171,556 |
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$ 142,303 |
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Service |
749 |
|
777 |
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3,025 |
|
3,202 |
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Premium and service revenues |
44,727 |
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36,296 |
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174,581 |
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145,505 |
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Premium tax |
4,998 |
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4,509 |
|
20,196 |
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17,566 |
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Total revenues |
49,725 |
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40,805 |
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194,777 |
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163,071 |
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Expenses: |
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Medical costs |
41,489 |
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31,809 |
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157,702 |
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125,707 |
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Cost of services |
680 |
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688 |
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2,670 |
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2,729 |
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Selling, general and administrative expenses |
3,370 |
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3,231 |
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12,904 |
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12,400 |
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Depreciation expense |
160 |
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141 |
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590 |
|
549 |
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Amortization of acquired intangible assets |
169 |
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173 |
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685 |
|
692 |
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Premium tax expense |
5,089 |
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4,588 |
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20,538 |
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17,806 |
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Impairment |
513 |
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— |
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7,311 |
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13 |
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Total operating expenses |
51,470 |
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40,630 |
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202,400 |
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159,896 |
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Earnings (loss) from operations |
(1,745) |
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175 |
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(7,623) |
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3,175 |
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Other income (expense): |
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Investment and other income |
369 |
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344 |
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1,572 |
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1,784 |
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Debt extinguishment |
1 |
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— |
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1 |
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— |
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Interest expense |
(168) |
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(172) |
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(678) |
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(702) |
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Earnings (loss) before income tax |
(1,543) |
|
347 |
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(6,728) |
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4,257 |
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Income tax (benefit) expense |
(443) |
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67 |
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(51) |
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963 |
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Net earnings (loss) |
(1,100) |
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280 |
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(6,677) |
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3,294 |
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(Earnings) loss attributable to noncontrolling interests |
(1) |
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3 |
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3 |
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11 |
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Net earnings (loss) attributable to Centene Corporation |
$ (1,101) |
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$ 283 |
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$ (6,674) |
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$ 3,305 |
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Net earnings (loss) per common share attributable to Centene Corporation: |
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Basic earnings (loss) per common share |
$ (2.24) |
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$ 0.57 |
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$ (13.53) |
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$ 6.33 |
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Diluted earnings (loss) per common share |
$ (2.24) |
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$ 0.56 |
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$ (13.53) |
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$ 6.31 |
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Weighted average number of common shares outstanding: |
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Basic |
491,533 |
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500,424 |
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493,116 |
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521,790 |
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Diluted |
491,533 |
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501,978 |
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493,116 |
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523,744 |