| Earnings (Loss) Per Share |
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 June 30, |
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Six Months Ended June 30, |
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2014 |
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2013 |
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2014 |
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2013 |
Earnings attributable to Centene Corporation: |
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Earnings from continuing operations, net of tax |
$ |
47,183 |
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$ |
40,289 |
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$ |
80,999 |
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$ |
62,928 |
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Discontinued operations, net of tax |
1,680 |
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(805 |
) |
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847 |
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(442 |
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Net earnings |
$ |
48,863 |
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$ |
39,484 |
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$ |
81,846 |
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$ |
62,486 |
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Shares used in computing per share amounts: |
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Weighted average number of common shares outstanding |
57,758,683 |
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54,529,036 |
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57,622,039 |
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53,449,077 |
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Common stock equivalents (as determined by applying the treasury stock method) |
1,958,575 |
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2,072,624 |
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1,925,381 |
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1,999,319 |
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Weighted average number of common shares and potential dilutive common shares outstanding |
59,717,258 |
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56,601,660 |
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59,547,420 |
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55,448,396 |
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Net earnings (loss) per common share attributable to Centene Corporation: |
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Basic: |
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Continuing operations |
$ |
0.82 |
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$ |
0.74 |
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$ |
1.41 |
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$ |
1.18 |
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Discontinued operations |
0.03 |
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(0.02 |
) |
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0.01 |
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(0.01 |
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Basic earnings per common share |
$ |
0.85 |
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$ |
0.72 |
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$ |
1.42 |
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$ |
1.17 |
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Diluted: |
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Continuing operations |
$ |
0.79 |
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$ |
0.71 |
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$ |
1.36 |
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$ |
1.14 |
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Discontinued operations |
0.03 |
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(0.01 |
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0.01 |
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(0.01 |
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Diluted earnings per common share |
$ |
0.82 |
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$ |
0.70 |
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$ |
1.37 |
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$ |
1.13 |
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The calculation of diluted earnings per common share for the three and six months ended June 30, 2014 excludes the impact of 51,855 shares and 55,544 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 six months ended June 30, 2013 excludes the impact of 35,094 shares and 68,809 shares, respectively, related to anti-dilutive stock options, restricted stock and restricted stock units.
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