Annual report pursuant to Section 13 and 15(d)

Condensed Financial Information Of Registrant (Tables)

v2.4.0.6
Condensed Financial Information Of Registrant (Tables) (Parent Company [Member])
12 Months Ended
Dec. 31, 2011
Parent Company [Member]
 
Condensed Balance Sheets
     December 31,  
     2011     2010  

ASSETS

    

Current assets:

    

Cash and cash equivalents

   $ 28,527     $ 9,380  

Short-term investments, at fair value (amortized cost $0 and $560, respectively)

     —          568  

Other current assets

     36,354       102,754  
  

 

 

   

 

 

 

Total current assets

     64,881       112,702  

Long-term investments, at fair value (amortized cost $4,164 and 10,848, respectively)

     4,164       11,109  

Investment in subsidiaries

     1,105,491       898,601  

Other long-term assets

     32,105       17,134  
  

 

 

   

 

 

 

Total assets

   $ 1,206,641     $ 1,039,546  
  

 

 

   

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

    

Current liabilities

   $ 3,100     $ 6,193  

Long-term debt

     258,617        235,000  

Other long-term liabilities

     8,505       1,298  
  

 

 

   

 

 

 

Total liabilities

     270,222       242,491  

Stockholders' equity:

    

Common stock, $.001 par value; authorized 100,000,000 shares; 53,586,726 issued and 50,864,618 outstanding at December 31, 2011, and 52,172,037 issued and 49,616,824 outstanding at December 31, 2010

     54       52  

Additional paid-in capital

     421,981       384,206  

Accumulated other comprehensive income:

    

Unrealized gain on investments, net of tax

     5,761       6,424  

Retained earnings

     564,961       453,743  

Treasury stock, at cost (2,722,108 and 2,555,213 shares, respectively)

     (57,123     (50,486
  

 

 

   

 

 

 

Total Centene stockholders' equity

     935,634       793,939  

Noncontrolling interest

     785       3,116  
  

 

 

   

 

 

 

Total stockholders' equity

     936,419       797,055  
  

 

 

   

 

 

 

Total liabilities and stockholders' equity

   $ 1,206,641     $ 1,039,546  
  

 

 

   

 

 

 
Condensed Statements Of Operations
     Year Ended December 31,  
     2011     2010     2009  

Expenses:

      

General and administrative expenses

   $ (4,488   $ (3,502   $ (2,906

Other income (expense):

      

Investment and other income

     (8,790     (4,700     6   

Interest expense

     (15,494     (14,844     (15,692
  

 

 

   

 

 

   

 

 

 

Loss before income taxes

     (28,772     (23,046     (18,592

Income tax benefit

     (12,825 )     (8,576 )     (6,004 )
  

 

 

   

 

 

   

 

 

 

Net earnings (loss) before equity in subsidiaries

     (15,947     (14,470     (12,588

Equity in earnings from subsidiaries

     127,165        109,306        96,259   
  

 

 

   

 

 

   

 

 

 

Net earnings

   $ 111,218      $ 94,836      $ 83,671   
  

 

 

   

 

 

   

 

 

 

Net earnings per share from continuing operations:

      

Basic earnings per common share

   $ 2.22      $ 1.87      $ 2.00   

Diluted earnings per common share

   $ 2.12      $ 1.80      $ 1.94   

Weighted average number of shares outstanding:

      

Basic

     50,198,954        48,754,947        43,034,791   

Diluted

     52,474,238        50,447,888        44,316,467   
Condensed Statements Of Cash Flows
     Year Ended December 31,  
     2011     2010     2009  

Cash flows from operating activities:

      

Cash provided by operating activities

   $ 72,754      $ 23,504      $ 92,711   

Cash flows from investing activities:

      

Net dividends from and capital contributions to subsidiaries

     (50,581     (17,172     (67,328

Purchase of investments

     (21,915     (86,549     (17,181

Sales and maturities of investments

     11,111        90,121        9,189   

Acquisitions, net of cash acquired

     (1,773     (48,656     (38,563

Proceeds from asset sales

     —          13,420        —     
  

 

 

   

 

 

   

 

 

 

Net cash used in investing activities

     (63,158     (48,836     (113,883
  

 

 

   

 

 

   

 

 

 

Cash flows from financing activities:

      

Proceeds from borrowings

     419,183        91,000        616,500   

Payment of long-term debt and notes payable

     (413,644     (115,000     (595,500

Proceeds from exercise of stock options

     15,815        3,419        2,365   

Common stock offering

     —          104,534        —     

Common stock repurchases

     (7,809     (3,224     (6,304

Debt issue costs

     (9,242     —          (368

Distribution to noncontrolling interest

     —          (8,158     (3,170

Contributions from noncontrolling interest

     813        771        11,219   

Purchase of noncontrolling interest

     —          (48,257     —     

Excess tax benefits from stock compensation

     4,435        963        53   
  

 

 

   

 

 

   

 

 

 

Net cash provided by financing activities

     9,551        26,048        24,795   
  

 

 

   

 

 

   

 

 

 

Net increase (decrease) in cash and cash equivalents

     19,147        716        3,623   
  

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, beginning of period

     9,380        8,664        5,041   
  

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

   $ 28,527      $ 9,380      $ 8,664