XML 68 R49.htm IDEA: XBRL DOCUMENT
v3.25.4

Condensed Financial Information of Registrant (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
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, 2025 |  | December 31, 2024
ASSETS |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 7 |
Other current assets | 1 |  |  | 9 |
Total current assets | 1 |  |  | 16 |
Long-term investments | 251 |  |  | 206 |
Investment in subsidiaries | 37,445 |  |  | 45,148 |
Other long-term assets | 104 |  |  | 85 |
Total assets | $ | 37,801 |  |  | $ | 45,455 |
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY |  |  |
Current liabilities: |  |  |
Current liabilities | $ | 172 |  |  | $ | 243 |
Current portion of long-term debt | 50 |  |  | 110 |
Total current liabilities | 222 |  |  | 353 |
Long-term debt | 17,351 |  |  | 18,423 |
Other long-term liabilities | 172 |  |  | 169 |
Total liabilities | 17,745 |  |  | 18,945 |
Commitments and contingencies |  |  |
Redeemable noncontrolling interest | 23 |  |  | 10 |
Stockholders' equity: |  |  |
Preferred stock, $0.001 par value; authorized 10,000 shares; no shares issued or outstanding at December 31, 2025 and December 31, 2024 | — |  |  | — |
Common stock, $0.001 par value; authorized 800,000 shares; 623,463 issued and 491,757 outstanding at December 31, 2025, and 620,195 issued and 495,907 outstanding at December 31, 2024 | 1 |  |  | 1 |
Additional paid-in capital | 20,777 |  |  | 20,562 |
Accumulated other comprehensive (loss) | (58) |  |  | (504) |
Retained earnings | 8,674 |  |  | 15,348 |
Treasury stock, at cost (131,706 and 124,288 shares, respectively) | (9,441) |  |  | (8,997) |
Total Centene stockholders' equity | 19,953 |  |  | 26,410 |
Nonredeemable noncontrolling interest | 80 |  |  | 90 |
Total stockholders' equity | 20,033 |  |  | 26,500 |
Total liabilities, redeemable noncontrolling interests and stockholders' equity | $ | 37,801 |  |  | $ | 45,455 |
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,
| 2025 |  | 2024 |  | 2023
Expenses: |  |  |  |  |
Selling, general and administrative expenses | $ | 15 |  |  | $ | 13 |  |  | $ | 14 |
Other income (expense): |  |  |  |  |
Investment and other income (expense) | 24 |  |  | (34) |  |  | (47) |
Gain (loss) on divestiture | — |  |  | (34) |  |  | 108 |
Debt extinguishment | 1 |  |  | — |  |  | — |
Interest expense | (677) |  |  | (700) |  |  | (710) |
(Loss) before income taxes | (667) |  |  | (781) |  |  | (663) |
Income tax (benefit) | (85) |  |  | (76) |  |  | (118) |
Net (loss) before equity in subsidiaries | (582) |  |  | (705) |  |  | (545) |
Equity in earnings (loss) from subsidiaries | (6,095) |  |  | 3,999 |  |  | 3,244 |
Net earnings (loss) | (6,677) |  |  | 3,294 |  |  | 2,699 |
Loss attributable to noncontrolling interests | 3 |  |  | 11 |  |  | 3 |
Net earnings (loss) attributable to Centene Corporation | $ | (6,674) |  |  | $ | 3,305 |  |  | $ | 2,702 |
Net earnings (loss) per common share attributable to Centene Corporation:
Basic earnings (loss) per common share | $ | (13.53) |  |  | $ | 6.33 |  |  | $ | 4.97 |
Diluted earnings (loss) per common share | $ | (13.53) |  |  | $ | 6.31 |  |  | $ | 4.95 |
Schedule of Condensed Statements of Cash Flows | Centene Corporation (Parent Company Only) Condensed Statements of Cash Flows (In millions)
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Cash flows from operating activities: |  |  |  |  |
Dividends from subsidiaries | $ | 1,671 |  |  | $ | 1,797 |  |  | $ | 2,823 |
Payments for legal settlement | (41) |  |  | (263) |  |  | (326) |
Other operating activities, net | (584) |  |  | (422) |  |  | (334) |
Net cash provided by operating activities | 1,046 |  |  | 1,112 |  |  | 2,163 |
Cash flows from investing activities: |  |  |  |  |
Capital contributions to subsidiaries | (2,001) |  |  | (730) |  |  | (443) |
Purchases of investments | (20) |  |  | (2) |  |  | (202) |
Sales and maturities of investments | 1 |  |  | — |  |  | — |
Return of capital from subsidiaries to parent company | 1,599 |  |  | 321 |  |  | 85 |
Proceeds from divestitures | — |  |  | — |  |  | 325 |
Intercompany activities | 989 |  |  | 1,693 |  |  | (357) |
Net cash (used in) provided by investing activities | 568 |  |  | 1,282 |  |  | (592) |
Cash flows from financing activities: |  |  |  |  |
Proceeds from long-term debt | 750 |  |  | 1,300 |  |  | 2,305 |
Payments and repurchases of long-term debt | (1,895) |  |  | (610) |  |  | (2,290) |
Common stock repurchases | (475) |  |  | (3,124) |  |  | (1,633) |
Proceeds from common stock issuances | 37 |  |  | 46 |  |  | 44 |
Purchase of noncontrolling interest | (19) |  |  | — |  |  | — |
Other financing activities, net | (19) |  |  | (6) |  |  | (2) |
Net cash used in financing activities | (1,621) |  |  | (2,394) |  |  | (1,576) |
Net increase (decrease) in cash and cash equivalents | (7) |  |  | — |  |  | (5) |
Cash and cash equivalents, beginning of period | 7 |  |  | 7 |  |  | 12 |
Cash and cash equivalents, end of period | $ | — |  |  | $ | 7 |  |  | $ | 7 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration