| Earnings Per Share |
8. Earnings Per Share
The following table sets forth the calculation of basic and diluted net earnings per common share:
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Three Months Ended
September 30,
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Nine Months Ended
September 30,
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2011 |
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2010 |
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2011 |
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2010 |
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Net earnings attributable to Centene Corporation common stockholders:
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Earnings from continuing operations, net of tax
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$ |
28,987 |
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$ |
22,402 |
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$ |
81,106 |
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$ |
65,483 |
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Discontinued operations, net of tax
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— |
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260 |
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— |
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3,954 |
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Net earnings
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$ |
28,987 |
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$ |
22,662 |
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$ |
81,106 |
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$ |
69,437 |
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Shares used in computing per share amounts:
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Weighted average number of common shares outstanding
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50,345,512 |
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49,238,406 |
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50,089,845 |
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48,552,135 |
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Common stock equivalents (as determined by applying the treasury stock method)
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2,274,838 |
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1,699,951 |
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2,231,061 |
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1,640,055 |
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Weighted average number of common shares and potential dilutive common shares outstanding
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52,620,350 |
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50,938,357 |
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52,320,906 |
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50,192,190 |
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Net earnings per share attributable to Centene Corporation common stockholders:
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Basic:
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Continuing operations
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$ |
0.58 |
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$ |
0.46 |
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$ |
1.62 |
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$ |
1.35 |
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Discontinued operations
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— |
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— |
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— |
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0.08 |
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Earnings per common share
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$ |
0.58 |
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$ |
0.46 |
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$ |
1.62 |
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$ |
1.43 |
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Diluted:
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Continuing operations
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$ |
0.55 |
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$ |
0.44 |
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$ |
1.55 |
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$ |
1.30 |
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Discontinued operations
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— |
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— |
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— |
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0.08 |
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Earnings per common share
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$ |
0.55 |
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$ |
0.44 |
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$ |
1.55 |
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$ |
1.38 |
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The calculation of diluted earnings per common share for the three and nine months ended September 30, 2011 excludes the impact of 69,359 and 97,004 shares, respectively, related to anti-dilutive stock options, restricted stock and restricted stock units. The calculation of diluted earnings per common share for the three and nine months ended September 30, 2010 excludes the impact of 1,931,808 and 1,975,387 shares, respectively, related to anti-dilutive stock options, restricted stock and restricted stock units.
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