| Earnings Per Share |
Earnings Per Share
The following table sets forth the calculation of basic and diluted net earnings per common share ($ in millions, except per share data):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2016 |
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2015 |
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2016 |
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2015 |
Earnings attributable to Centene Corporation: |
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Earnings from continuing operations, net of tax |
$ |
146 |
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$ |
92 |
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$ |
300 |
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$ |
244 |
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Discontinued operations, net of tax |
(1 |
) |
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1 |
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(3 |
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— |
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Net earnings |
$ |
145 |
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$ |
93 |
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$ |
297 |
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$ |
244 |
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Shares used in computing per share amounts: |
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Weighted average number of common shares outstanding |
170,774,587 |
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119,121,524 |
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155,680,769 |
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118,970,853 |
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Common stock equivalents (as determined by applying the treasury stock method) |
3,537,829 |
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4,010,286 |
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3,279,299 |
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3,933,623 |
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Weighted average number of common shares and potential dilutive common shares outstanding |
174,312,416 |
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123,131,810 |
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158,960,068 |
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122,904,476 |
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Net earnings per common share attributable to Centene Corporation: |
Basic: |
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Continuing operations |
$ |
0.85 |
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$ |
0.77 |
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$ |
1.93 |
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$ |
2.05 |
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Discontinued operations |
— |
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0.01 |
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(0.02 |
) |
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— |
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Basic earnings per common share |
$ |
0.85 |
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$ |
0.78 |
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$ |
1.91 |
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$ |
2.05 |
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Diluted: |
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Continuing operations |
$ |
0.84 |
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$ |
0.75 |
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$ |
1.89 |
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$ |
1.99 |
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Discontinued operations |
(0.01 |
) |
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0.01 |
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(0.02 |
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— |
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Diluted earnings per common share |
$ |
0.83 |
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$ |
0.76 |
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$ |
1.87 |
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$ |
1.99 |
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The calculation of diluted earnings per common share for the three and nine months ended September 30, 2016 excludes the impact of 51,593 and 48,380 shares, respectively, related to anti-dilutive restricted stock and restricted stock units. The calculation of diluted earnings per common share for the three and nine months ended September 30, 2015 excludes the impact of 28,716 and 84,644 shares, respectively, related to anti-dilutive restricted stock and restricted stock units.
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