XML 65 R49.htm IDEA: XBRL DOCUMENT v3.25.0.1
Condensed Financial Information of Registrant (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Schedule of 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, 2024December 31, 2023
ASSETS  
Current assets:  
Cash and cash equivalents$7 $7 
Other current assets9 7 
Total current assets16 14 
Long-term investments206 264 
Investment in subsidiaries45,148 43,853 
Other long-term assets85 186 
Total assets$45,455 $44,317 
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY  
Current liabilities:
Current liabilities$243 $417 
Current portion of long-term debt110 110 
Total current liabilities353 527 
Long-term debt18,423 17,708 
Other long-term liabilities169 126 
Total liabilities18,945 18,361 
Commitments and contingencies
Redeemable noncontrolling interest10 19 
Stockholders' equity:  
Preferred stock, $0.001 par value; authorized 10,000 shares; no shares issued or outstanding at December 31, 2024 and December 31, 2023
— — 
Common stock, $0.001 par value; authorized 800,000 shares; 620,195 issued and 495,907 outstanding at December 31, 2024, and 615,291 issued and 534,484 outstanding at December 31, 2023
1 1 
Additional paid-in capital20,562 20,304 
Accumulated other comprehensive (loss)(504)(652)
Retained earnings15,348 12,043 
Treasury stock, at cost (124,288 and 80,807 shares, respectively)
(8,997)(5,856)
Total Centene stockholders' equity26,410 25,840 
Nonredeemable noncontrolling interest90 97 
Total stockholders' equity26,500 25,937 
Total liabilities, redeemable noncontrolling interests and stockholders' equity$45,455 $44,317 
Schedule of Condensed Statements of Operations
Centene Corporation (Parent Company Only)
Condensed Statements of Operations
(In millions, except per share data in dollars)

Year Ended December 31,
 202420232022
Expenses:   
Selling, general and administrative expenses$13 $14 $21 
Legal settlement— — 33 
Other income (expense):   
Investment and other income(34)(47)55 
Gain (loss) on divestiture(34)108 13 
Debt extinguishment — — 14 
Interest expense(700)(710)(643)
(Loss) before income taxes(781)(663)(615)
Income tax (benefit)(76)(118)(208)
Net (loss) before equity in subsidiaries(705)(545)(407)
Equity in earnings from subsidiaries3,999 3,244 1,609 
Net earnings3,294 2,699 1,202 
Loss attributable to noncontrolling interests11 3 — 
Net earnings attributable to Centene Corporation$3,305 $2,702 $1,202 
Net earnings per common share attributable to Centene Corporation:   
Basic earnings per common share$6.33 $4.97 $2.09 
Diluted earnings per common share$6.31 $4.95 $2.07 
Schedule of Condensed Statements of Cash Flows
Centene Corporation (Parent Company Only)
Condensed Statements of Cash Flows
(In millions)
 Year Ended December 31,
 202420232022
Cash flows from operating activities:   
Dividends from subsidiaries, return on investment$1,797 $2,823 $1,706 
Payments for legal settlement(263)(326)(282)
Other operating activities, net(422)(334)(450)
Net cash provided by operating activities1,112 2,163 974 
Cash flows from investing activities:   
Capital contributions to subsidiaries(730)(443)(880)
Purchases of investments(2)(202)(2)
Dividends from subsidiaries, return of investment321 85 10 
Investments in acquisitions— — (2,431)
Proceeds from divestitures— 325 — 
Intercompany activities1,693 (357)5,785 
Other investing activities, net— — 3 
Net cash (used in) provided by investing activities1,282 (592)2,485 
Cash flows from financing activities:   
Proceeds from common stock issuances46 44 70 
Proceeds from long-term debt1,300 2,305 75 
Payments and repurchases of long-term debt(610)(2,290)(491)
Common stock repurchases(3,124)(1,633)(3,096)
Payments for debt extinguishment— — (14)
Other financing activities, net(6)(2)— 
Net cash used in financing activities(2,394)(1,576)(3,456)
Net increase (decrease) in cash and cash equivalents— (5)3 
Cash and cash equivalents, beginning of period
7 12 9 
Cash and cash equivalents, end of period
$7 $7 $12