Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net earnings $ 108,363 $ 98,271 $ 86,245
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 58,327 52,000 44,004
Stock compensation expense 18,171 13,874 14,634
Gain on sale of investments, net (287) (6,337) (141)
Debt extinguishment costs 8,488    
(Gain) on sale of UHP   (8,201)  
Impairment loss on Casenet, LLC    5,531   
Deferred income taxes 2,031 10,317 3,696
Changes in assets and liabilities      
Premium and related receivables (11,306) (23,359) 2,379
Other current assets (11,812) (3,240) (1,263)
Other assets (2) (2,028) 9
Medical claims liability 149,756 (30,421) 79,000
Unearned revenue (109,082) 25,700 78,345
Accounts payable and accrued expenses 38,889 37,398 (60,915)
Other operating activities 10,160 (573) 2,202
Net cash provided by operating activities 261,696 168,932 248,195
Cash flows from investing activities:      
Capital expenditures (68,993) (63,304) (23,721)
Capital expenditures of Centene Center LLC (4,715) (55,252) (59,392)
Purchase of investments (318,397) (615,506) (791,194)
Sales and maturities of investments 267,404 570,423 642,783
Proceeds from asset sales   13,420  
Investments in acquisitions, net of cash acquired, and investment in equity method investee (4,375) (60,388) (38,563)
Net cash used in investing activities (129,076) (210,607) (270,087)
Cash flows from financing activities:      
Proceeds from exercise of stock options 15,815 3,419 2,365
Proceeds from borrowings 419,183 218,538 659,059
Proceeds from stock offering   104,534  
Payment of long-term debt (416,283) (195,728) (616,219)
Purchase of noncontrolling interest   (48,257)  
Distributions from (to) noncontrolling interest 813 (7,387) 8,049
Excess tax benefits from stock compensation 4,435 963 53
Common stock repurchases (7,809) (3,224) (6,304)
Debt issue costs (9,242) (769) (458)
Net cash provided by financing activities 6,912 72,089 46,545
Net increase in cash and cash equivalents 139,532 30,414 24,653
Cash and cash equivalents, beginning of period 434,166 403,752 379,099
Cash and cash equivalents, end of period 573,698 434,166 403,752
Supplemental disclosures of cash flow information:      
Interest paid 27,383 17,296 15,428
Income taxes paid 50,444 53,938 52,928
Supplemental disclosure of non-cash investing and financing activities:      
Contribution from noncontrolling interest   306 5,875
Capital expenditures $ 6,591 $ 8,720 $ (1,476)