Earnings Per Share

The following table sets forth the calculation of basic and diluted net earnings per common share:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014		2013
Earnings attributable to Centene Corporation:
Earnings from continuing operations, net of tax	$	81,099	$	50,325		$	162,098	$	113,253
Discontinued operations, net of tax	1,521		(952		)	2,368		(1,394		)
Net earnings	$	82,620	$	49,373		$	164,466	$	111,859

Shares used in computing per share amounts:
Weighted average number of common shares outstanding	58,613,484		54,679,660			57,956,152		53,863,779
Common stock equivalents (as determined by applying the treasury stock method)	2,068,391		2,253,396			1,980,547		2,092,642
Weighted average number of common shares and potential dilutive common shares outstanding	60,681,875		56,933,056			59,936,699		55,956,421

Net earnings (loss) per common share attributable to Centene Corporation:
Basic:
Continuing operations	$	1.38	$	0.92		$	2.80	$	2.10
Discontinued operations	0.03		(0.02		)	0.04		(0.02		)
Basic earnings per common share	$	1.41	$	0.90		$	2.84	$	2.08

Diluted:
Continuing operations	$	1.34	$	0.88		$	2.70	$	2.02
Discontinued operations	0.02		(0.01		)	0.04		(0.02		)
Diluted earnings per common share	$	1.36	$	0.87		$	2.74	$	2.00

The calculation of diluted earnings per common share for the three and nine months ended September 30, 2014 excludes the impact of 23,760 shares and 58,878 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, 2013 excludes the impact of 14,532 shares and 76,957 shares, respectively, related to anti-dilutive stock options, restricted stock and restricted stock units.