v2.4.1.9

Condensed Financial Information Of Registrant | 12 Months Ended
--- | ---
Dec. 31, 2014
Condensed Financial Information of Registrant [Abstract] |
Condensed Financial Information of Registrant | Condensed Financial Information of Registrant Centene Corporation (Parent Company Only) Condensed Balance Sheets (In millions, except share data)
| December 31,
| 2014 |  | 2013
ASSETS |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 3 |  |  | $ | 3 |
Short term investments, at fair value (amortized cost $8 and $6, respectively) | 8 |  |  | 6 |
Other current assets | 378 |  |  | 125 |
Total current assets | 389 |  |  | 134 |
Long term investments, at fair value (amortized cost $10 and $8, respectively) | 10 |  |  | 8 |
Investment in subsidiaries | 2,296 |  |  | 1,667 |
Other long term assets | 38 |  |  | 32 |
Total assets | $ | 2,733 |  |  | $ | 1,841 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
Current liabilities | $ | 24 |  |  | $ | 5 |
Long term debt | 815 |  |  | 591 |
Other long term liabilities | 3 |  |  | 2 |
Total liabilities | 842 |  |  | 598 |
Redeemable noncontrolling interest | 148 |  |  | — |
Stockholders' equity: |  |  |
Common stock, $.001 par value; authorized 200,000,000 shares; 124,274,864 issued and 118,433,416 outstanding at December 31, 2014, and 117,346,430 issued and 110,638,478 outstanding at December 31, 2013 | — |  |  | — |
Additional paid-in capital | 840 |  |  | 594 |
Accumulated other comprehensive loss | (1 | ) |  | (3 | )
Retained earnings | 1,003 |  |  | 732 |
Treasury stock, at cost (5,841,448 and 6,707,952 shares, respectively) | (98 | ) |  | (89 | )
Total Centene stockholders' equity | 1,744 |  |  | 1,234 |
Noncontrolling interest | (1 | ) |  | 9 |
Total stockholders' equity | 1,743 |  |  | 1,243 |
Total liabilities and stockholders' equity | $ | 2,733 |  |  | $ | 1,841 |
See notes to condensed financial information of registrant. Centene Corporation (Parent Company Only) Condensed Statements of Operations (In millions, except share data)
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Expenses: |  |  |  |  |
General and administrative expenses | $ | 3 |  |  | $ | 4 |  |  | $ | 4 |
Other income (expense): |  |  |  |  |
Investment and other income | 1 |  |  | 1 |  |  | 20 |
Interest expense | (30 | ) |  | (23 | ) |  | (16 | )
Earnings (loss) before income taxes | (32 | ) |  | (26 | ) |  | — |
Income tax benefit | (8 | ) |  | (15 | ) |  | (10 | )
Net earnings (loss) before equity in subsidiaries | (24 | ) |  | (11 | ) |  | 10 |
Equity in earnings from subsidiaries | 285 |  |  | 173 |  |  | 66 |
Net earnings | 261 |  |  | 162 |  |  | 76 |
(Earnings) loss attributable to noncontrolling interests | 7 |  |  | (1 | ) |  | 13 |
Net earnings attributable to Centene | 268 |  |  | 161 |  |  | 89 |
Net earnings per share from continuing operations: |  |  |  |  |
Basic earnings per common share | $ | 2.30 |  |  | $ | 1.49 |  |  | $ | 0.86 |
Diluted earnings per common share | $ | 2.23 |  |  | $ | 1.43 |  |  | $ | 0.83 |
Weighted average number of shares outstanding: |  |  |  |  |
Basic | 116,345,764 |  |  | 108,253,090 |  |  | 103,018,732 |
Diluted | 120,360,212 |  |  | 112,494,346 |  |  | 107,428,750 |
See notes to condensed financial information of registrant. Centene Corporation (Parent Company Only) Condensed Statements of Cash Flows (In millions)
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Cash flows from operating activities: |  |  |  |  |
Cash provided by operating activities | $ | 317 |  |  | $ | 302 |  |  | $ | 328 |
Cash flows from investing activities: |  |  |  |  |
Net dividends from and capital contributions to subsidiaries | (384 | ) |  | (417 | ) |  | (540 | )
Purchase of investments | (32 | ) |  | (12 | ) |  | (7 | )
Sales and maturities of investments | 14 |  |  | 10 |  |  | 30 |
Acquisitions | (137 | ) |  | (67 | ) |  | — |
Net cash used in investing activities | (539 | ) |  | (486 | ) |  | (517 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from borrowings | 1,875 |  |  | 180 |  |  | 400 |
Payment of long term debt | (1,650 | ) |  | (30 | ) |  | (215 | )
Proceeds from exercise of stock options | 8 |  |  | 9 |  |  | 16 |
Proceeds from stock offering | — |  |  | 15 |  |  | — |
Common stock repurchases | (29 | ) |  | (20 | ) |  | (13 | )
Debt issue costs | (7 | ) |  | (3 | ) |  | (4 | )
Contributions from noncontrolling interest | 6 |  |  | 8 |  |  | 1 |
Purchase of noncontrolling interest | — |  |  | — |  |  | (14 | )
Excess tax benefits from stock compensation | 19 |  |  | 6 |  |  | 11 |
Net cash provided by financing activities | 222 |  |  | 165 |  |  | 182 |
Net increase (decrease) in cash and cash equivalents | — |  |  | (19 | ) |  | (7 | )
Cash and cash equivalents, beginning of period | 3 |  |  | 22 |  |  | 29 |
Cash and cash equivalents, end of period | $ | 3 |  |  | $ | 3 |  |  | $ | 22 |
See notes to condensed financial information of registrant. Notes to Condensed Financial Information of Registrant Note A - Basis of Presentation and Significant Accounting Policies The parent company only financial statements should be read in conjunction with Centene Corporation's audited consolidated financial statements and the notes to consolidated financial statements included in this Form 10-K. The parent company's investment in subsidiaries is stated at cost plus equity in undistributed earnings of the subsidiaries. The parent company's share of net income of its unconsolidated subsidiaries is included in income using the equity method of accounting. Certain unrestricted subsidiaries receive monthly management fees from our restricted subsidiaries. The management and service fees received by our unrestricted subsidiaries are associated with all of the functions required to manage the restricted subsidiaries including but not limited to salaries and wages for all personnel, rent, utilities, medical management, provider contracting, compliance, member services, claims processing, information technology, cash management, finance and accounting, and other services. The management fees are based on a percentage of the restricted subsidiaries revenue. Due to our centralized cash management function, all cash flows generated by our unrestricted subsidiaries, including management fees, are transferred to the parent company, primarily to repay borrowings on the parent company's revolving credit facility. The parent company may also utilize the cash flow to make acquisitions, fund capital contributions to subsidiaries and fund its operations. During the years ended December 31, 2014, 2013 and 2012, cash flows received by the parent from unrestricted subsidiaries was $341 million, $313 million, and $318 million and was included in cash flows from operating activities. Certain amounts presented in the parent company only financial statements are eliminated in the consolidated financial statements of Centene Corporation. Note B - Dividends During 2014, 2013 and 2012, the Registrant received dividends from its subsidiaries totaling $54 million, $21 million and $29 million, respectively. Note C - Other Current Assets The parent company's other current assets include $359 million and $113 million of federal and state income tax receivables as of December 31, 2014 and 2013, respectively, primarily due to tax sharing agreements with its subsidiaries.

X
- Details
Name: | cnc_CondensedFinancialInformationOfRegistrantAbstract
Namespace Prefix: | cnc_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration