CENTENE CORPORATION CNC Income Statement

Centene corporation (CNC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Premium and service revenues
24,172	18,012	18,215	17,299	16,838	15,649	15,355	12,875	12,556	11,593	11,421	11,441	11,165	10,677	10,215	10,276	6,411	5,857	5,463	5,184	4,761	4,415	4,159	3,741	3,352	2,859	2,726	2,518	2,421	1,744	2,212	2,061	1,663	1,329	1,265	1,278	1,179	1,129	1,081	1,050	1,022	987	931
Premium tax and health insurer fee
1,853	851	761	1,057	1,606	910	827	1,306	638	1,213	477	513	559	1,234	631	621	542	445	358	322	370	309	193	283	108	72	69	91	103	94	235	49	48	48	36	36	37	51	40	26	46	50	108
Total revenues
26,025	18,863	18,976	18,356	18,444	16,559	16,182	14,181	13,194	12,806	11,898	11,954	11,724	11,911	10,846	10,897	6,953	6,302	5,821	5,506	5,131	4,724	4,352	4,024	3,460	2,931	2,795	2,610	2,525	1,838	2,448	2,110	1,712	1,378	1,302	1,315	1,216	1,180	1,121	1,076	1,068	1,038	1,039
Expenses:
Medical costs
20,420	15,220	15,406	14,354	13,882	13,012	12,626	10,380	10,039	9,573	9,543	9,413	9,322	8,564	8,376	8,385	5,311	4,767	4,433	4,181	3,861	3,585	3,390	2,960	2,743	2,412	2,293	2,134	2,154	1,410	2,036	1,890	1,442	1,100	1,053	1,059	978	992	893	859	839	803	755
Cost of services
825	687	619	615	544	563	622	658	543	513	437	456	441	478	504	515	367	387	413	419	402	345	327	366	242	108	100	93	25	21	21	21	23	17	20	20	20	16	14	15	17	15	14
Selling, general and administrative expenses
2,384	1,733	1,617	1,574	1,609	1,556	1,934	1,237	1,316	1,260	1,030	1,065	1,091	1,062	940	949	722	511	458	437	396	347	334	321	296	255	249	223	203	164	181	168	163	150	142	143	141	76	132	133	135	130	129
Amortization of acquired intangible assets
166	64	65	64	65	62	65	45	39	39	38	39	40	52	43	43	9	6	6	5	7	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Premium tax expense
1,625	882	822	1,106	1,659	801	716	1,189	546	1,240	510	543	590	1,103	512	498	450	357	274	239	281	206	161	253	78	70	68	90	102	94	235	49	48	48	37	37	37	50	41	26	46	51	108
Health insurer fee expense
345	0	0	0	0	177	178	183	171	0	0	0	0	128	129	130	74	54	54	52	55	32	32	31	31	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment
72	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill and Intangible Asset Impairment
-	-	271	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	28	-	-	0	0	-	-	-	-	-	-	-
Total operating expenses
25,837	18,586	18,800	17,713	17,759	16,171	16,141	13,692	12,654	12,625	11,558	11,516	11,484	11,387	10,504	10,520	6,933	6,082	5,638	5,333	5,002	4,531	4,244	3,931	3,390	2,846	2,711	2,541	2,485	1,690	2,475	2,157	1,677	1,317	1,253	1,259	1,177	1,135	1,081	1,035	1,039	1,000	1,008
Earnings from operations
188	277	176	643	685	388	41	489	540	181	340	438	240	524	342	377	20	220	183	173	129	193	108	93	70	84	83	68	39	148	-27	-46	34	60	48	55	39	45	40	41	29	38	31
Other income (expense):
Investment and other income
167	126	98	120	99	67	80	65	41	53	51	45	41	34	33	32	15	8	8	10	9	10	6	7	5	5	4	4	4	2	23	4	5	3	2	2	3	3	0	4	7	3	4
Debt extinguishment costs
-44	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-8	-	-	-	-	-	-	-
Interest expense
180	113	99	101	99	98	97	80	68	66	65	62	62	75	57	52	33	11	11	11	10	10	9	9	7	6	6	7	6	5	4	4	4	4	4	5	5	5	4	3	3	4	4
Earnings from operations, before income tax expense
131	260	175	662	685	357	24	474	513	168	326	421	219	483	318	357	2	217	180	172	128	193	105	91	68	83	82	65	37	145	-9	-47	34	60	46	44	37	43	36	41	32	37	31
Income tax expense
85	58	79	170	166	116	8	175	175	-55	125	169	87	227	169	187	16	105	87	84	63	89	27	45	35	34	32	25	14	53	-9	-8	12	21	18	16	14	16	13	17	12	12	11
Earnings from continuing operations, net of income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	149	170	-14	112	93	88	65	104	78	46	33	49	49	39	22	-	-	-	-	-	-	-	-	26	22	24	20	25	19
Discontinued operations, net of income tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-1	-1	-1	1	0	-1	1	1	2	-1	5	-0	-0	0	-	-	-	-	-	-	-	-	-0	0	-0	3	-1	-0
Net earnings
46	202	96	492	519	241	16	299	338	223	201	252	132	259	148	169	-15	111	94	88	64	105	79	48	32	55	48	39	22	4	0	-38	22	29	28	28	22	26	23	24	24	23	19
Loss attributable to noncontrolling interests
0	-7	1	-3	-3	0	-3	-1	-2	-7	-4	-2	-7	-2	1	-1	1	0	1	0	1	-2	-3	-1	-1	2	-0	-0	-0	-4	-3	-3	-1	-0	-0	-0	-0	0	0	1	0	2	-0
Net earnings attributable to Centene Corporation
46	209	95	495	522	241	19	300	340	230	205	254	139	261	147	170	-16	111	93	88	63	107	82	49	33	53	49	39	23	9	3	-34	23	30	28	28	23	25	22	22	24	21	20
Amounts attributable to Centene Corporation common shareholders:
Earnings from continuing operations, net of income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	148	171	-15	112	92	88	64	106	81	47	34	47	50	40	22	-	-	-	-	-	-	-	-	25	22	22	20	22	20
Discontinued operations, net of income tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-1	-1	-1	1	0	-1	1	1	2	-1	5	-0	-0	0	-	-	-	-	-	-	-	-	-0	0	-0	3	-1	-0
Net earnings
46	209	95	495	522	241	19	300	340	230	205	254	139	261	147	170	-16	111	93	88	63	107	82	49	33	53	49	39	23	9	3	-34	23	30	28	28	23	25	22	22	24	21	20
Earnings Per Share [Abstract]
Basic:
Continuing operations (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.87	1.00	-0.12	0.94	0.77	0.74	0.54	0.90	0.69	0.41	0.30	-0.60	0.92	0.74	0.43	-	-	-	-	-	-	-	-	0.52	0.46	0.46	0.43	0.53	0.48
Discontinued operations (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.01	0.00	-0.01	-0.01	0.01	0.00	-0.01	0.02	0.01	0.01	-0.01	0.06	-0.02	-0.02	0.01	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.08	-0.04	-0.01
Basic earnings per common share (in dollars per share)
0.08	0.50	0.23	1.20	1.26	0.51	0.05	0.77	0.98	-1.07	1.19	1.47	0.81	0.03	0.86	1.00	-0.13	0.93	0.78	0.74	0.53	0.92	0.70	0.42	0.29	-0.54	0.90	0.72	0.44	0.16	0.07	-0.68	0.47	0.59	0.58	0.57	0.48	0.52	0.46	0.46	0.51	0.49	0.47
Diluted:
Continuing operations (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.84	0.98	-0.12	0.90	0.75	0.72	0.52	0.88	0.67	0.39	0.29	-0.57	0.88	0.71	0.41	-	-	-	-	-	-	-	-	0.50	0.44	0.45	0.41	0.51	0.47
Discontinued operations (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-0.01	-0.01	-0.01	0.01	0.00	-0.01	0.00	0.01	0.02	-0.01	0.05	-0.01	-0.01	0.01	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.08	-0.03	-0.01
Diluted earnings per common share (in dollars per share)
0.08	0.49	0.23	1.18	1.24	0.50	0.05	0.75	0.96	-1.05	1.16	1.44	0.79	0.03	0.84	0.97	-0.13	0.89	0.76	0.72	0.51	0.88	0.68	0.41	0.28	-0.52	0.87	0.70	0.42	0.18	0.07	-0.68	0.45	0.57	0.55	0.54	0.46	0.50	0.44	0.45	0.49	0.48	0.46
Weighted average number of common shares outstanding:
Basic (in shares)
544	414	413	413	412	411	410	391	347	-	-	-	-	-	-	-	125	-	119	119	118	117	117	115	114	271	54	54	52	257	51	51	51	50	50	50	49	49	49	49	47	43	43
Diluted (in shares)
552	422	419	419	419	420	419	398	355	-	-	-	-	-	-	-	125	-	123	122	122	121	121	119	118	282	56	56	54	270	53	51	53	52	52	52	51	51	50	50	48	44	44
Premium
Premium and service revenues
23,214	17,210	17,472	16,554	16,203	14,990	14,623	12,113	11,903	10,960	10,850	10,905	10,638	10,100	9,625	9,688	5,986	5,415	4,983	4,692	4,299	4,016	3,780	3,331	3,071	2,737	2,613	2,413	2,388	1,715	2,184	2,034	1,634	1,307	1,239	1,248	1,152	1,106	1,060	1,025	999	960	909
Service
Premium and service revenues
958	802	743	745	635	659	732	762	653	633	571	536	527	577	590	588	425	442	480	492	462	399	379	410	281	121	112	105	33	28	28	27	28	22	25	29	26	23	20	24	22	27	21