Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Premium and service revenues $ 25,724 $ 17,299 $ 49,896 $ 34,137
Premium tax and health insurer fee 1,988 1,057 3,841 2,663
Total revenues 27,712 18,356 53,737 36,800
Expenses:        
Medical costs 20,307 14,354 40,727 28,236
Cost of services 833 615 1,658 1,159
Selling, general and administrative expenses 2,255 1,574 4,639 3,183
Amortization of acquired intangible assets 197 64 363 129
Premium tax expense 1,723 1,106 3,348 2,765
Health insurer fee expense 379 0 724 0
Impairment 0 0 72 0
Total operating expenses 25,694 17,713 51,531 35,472
Earnings from operations 2,018 643 2,206 1,328
Other income (expense):        
Investment and other income 113 120 280 219
Debt extinguishment costs 0 0 (44) 0
Interest expense (187) (101) (367) (200)
Earnings from operations, before income tax expense 1,944 662 2,075 1,347
Income tax expense 742 170 827 336
Net earnings 1,202 492 1,248 1,011
Loss attributable to noncontrolling interests 4 3 4 6
Net earnings attributable to Centene Corporation $ 1,206 $ 495 $ 1,252 $ 1,017
Net earnings per common share attributable to Centene Corporation:        
Basic earnings per common share (in dollars per share) $ 2.08 $ 1.20 $ 2.23 $ 2.46
Diluted earnings per common share (in dollars per share) $ 2.05 $ 1.18 $ 2.20 $ 2.42
Weighted average number of common shares outstanding:        
Basic (in shares) 579,189 413,370 561,623 413,144
Diluted (in shares) 587,498 419,671 569,559 419,707
Premium        
Revenues:        
Premium and service revenues $ 24,745 $ 16,554 $ 47,959 $ 32,757
Service        
Revenues:        
Premium and service revenues $ 979 $ 745 $ 1,937 $ 1,380