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 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Premium and service revenues $ 33,726 $ 30,514 $ 101,926 $ 87,490
Premium tax 2,139 1,892 7,060 5,924
Total revenues 35,865 32,406 108,986 93,414
Expenses:        
Medical costs 28,111 25,430 83,261 73,210
Cost of services 1,571 1,355 5,658 3,510
Selling, general and administrative expenses 2,846 2,537 8,391 6,910
Depreciation expense 150 147 470 414
Amortization of acquired intangible assets 211 198 609 581
Premium tax expense 2,211 1,965 7,258 6,129
Impairment 289 229 1,739 229
Legal settlement 0 0 0 1,250
Total operating expenses 35,389 31,861 107,386 92,233
Earnings from operations 476 545 1,600 1,181
Other income (expense):        
Investment and other income 692 424 786 566
Debt extinguishment 10 (79) 26 (125)
Interest expense (169) (170) (491) (503)
Earnings before income tax 1,009 720 1,921 1,119
Income tax expense 269 139 500 376
Net earnings 740 581 1,421 743
(Earnings) loss attributable to noncontrolling interests (2) 3 (6) 5
Net earnings attributable to Centene Corporation $ 738 $ 584 $ 1,415 $ 748
Net earnings per common share attributable to Centene Corporation:        
Basic earnings per common share (in dollars per share) $ 1.29 $ 1.00 $ 2.44 $ 1.28
Diluted earnings per common share (in dollars per share) $ 1.27 $ 0.99 $ 2.41 $ 1.27
Weighted average number of common shares outstanding:        
Basic (in shares) 573,961 583,244 580,277 582,636
Diluted (in shares) 580,607 590,702 587,084 590,154
Premium        
Revenues:        
Premium and service revenues $ 31,848 $ 28,876 $ 95,247 $ 83,436
Service        
Revenues:        
Premium and service revenues $ 1,878 $ 1,638 $ 6,679 $ 4,054