| Condensed Balance Sheets |
Centene Corporation (Parent Company Only) Condensed Balance Sheets (In millions, except shares in thousands and per share data in dollars) | | | | | | | | | | December 31, | | 2017 | | 2016 | ASSETS | | | | Current assets: | | | | Cash and cash equivalents | $ | 6 |
| | $ | 5 |
| Short-term investments, at fair value (amortized cost $2 and $1, respectively) | 2 |
| | 1 |
| Other current assets | 331 |
| | 29 |
| Total current assets | 339 |
| | 35 |
| Long-term investments, at fair value (amortized cost $17 and $19, respectively) | 17 |
| | 19 |
| Investment in subsidiaries | 11,018 |
| | 10,674 |
| Other long-term assets | 302 |
| | 52 |
| Total assets | $ | 11,676 |
| | $ | 10,780 |
| | | | | LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY | | | | Current liabilities | $ | 100 |
| | $ | 78 |
| Long-term debt | 4,624 |
| | 4,573 |
| Other long-term liabilities | 76 |
| | 75 |
| Total liabilities | 4,800 |
| | 4,726 |
| | | | | Redeemable noncontrolling interest | 12 |
| | 145 |
| | | | | Stockholders' equity: | | | | Preferred stock, $.001 par value; authorized 10,000 shares; no shares issued or outstanding at December 31, 2017 and December 31, 2016 | — |
| | — |
| Common stock, $.001 par value; authorized 400,000 shares; 180,379 issued and 173,437 outstanding at December 31, 2017, and 178,134 issued and 171,919 outstanding at December 31, 2016 | — |
| | — |
| Additional paid-in capital | 4,349 |
| | 4,190 |
| Accumulated other comprehensive loss | (3 | ) | | (36 | ) | Retained earnings | 2,748 |
| | 1,920 |
| Treasury stock, at cost (6,942 and 6,215 shares, respectively) | (244 | ) | | (179 | ) | Total Centene stockholders' equity | 6,850 |
| | 5,895 |
| Noncontrolling interest | 14 |
| | 14 |
| Total stockholders' equity | 6,864 |
| | 5,909 |
| Total liabilities, redeemable noncontrolling interests and stockholders' equity | $ | 11,676 |
| | $ | 10,780 |
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| Condensed Statements Of Cash Flows |
Centene Corporation (Parent Company Only) Condensed Statements of Cash Flows (In millions)
| | | | | | | | | | | | | | Year Ended December 31, | | 2017 | | 2016 | | 2015 | Cash flows from operating activities: | | | | | | Dividends from subsidiaries, return on investment | $ | 292 |
| | $ | 25 |
| | $ | 11 |
| Other operating activities, net | (132 | ) | | (71 | ) | | (29 | ) | Net cash provided by (used in) operating activities | 160 |
| | (46 | ) | | (18 | ) | Cash flows from investing activities: | | | | | | Capital contributions to subsidiaries | (339 | ) | | (691 | ) | | (646 | ) | Purchases of investments | (38 | ) | | (112 | ) | | (17 | ) | Sales and maturities of investments | 4 |
| | 169 |
| | 9 |
| Dividends from subsidiaries, return of investment | 28 |
| | 100 |
| | 3 |
| Investments in acquisitions | (59 | ) | | (2,248 | ) | | (113 | ) | Intercompany activities | 322 |
| | (575 | ) | | 463 |
| Other investing activities, net | (1 | ) | | — |
| | 7 |
| Net cash used in investing activities | (83 | ) | | (3,357 | ) | | (294 | ) | Cash flows from financing activities: | | | | | | Proceeds from borrowings | 1,400 |
| | 8,934 |
| | 1,925 |
| Payment of long-term debt | (1,350 | ) | | (5,377 | ) | | (1,575 | ) | Common stock repurchases | (65 | ) | | (63 | ) | | (53 | ) | Debt issuance costs | — |
| | (76 | ) | | (4 | ) | Purchase of noncontrolling interest | (66 | ) | | (14 | ) | | — |
| Other financing activities, net | 5 |
| | — |
| | 20 |
| Net cash (used in) provided by financing activities | (76 | ) | | 3,404 |
| | 313 |
| Net increase in cash and cash equivalents | 1 |
| | 1 |
| | 1 |
| Cash and cash equivalents, beginning of period | 5 |
| | 4 |
| | 3 |
| Cash and cash equivalents, end of period | $ | 6 |
| | $ | 5 |
| | $ | 4 |
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