Calculation of Basic and Diluted Net Earnings Per Common 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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