Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Earnings Per Common Share

The following table sets forth the calculation of basic and diluted net earnings (loss) per common share ($ in millions, except per share data in dollars and shares in thousands):

		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
Earnings (loss) attributable to Centene Corporation		$	1,058	$	(172)	$	2,188	$	677
Shares used in computing per share amounts:
Weighted average number of common shares outstanding		548,932		583,644		549,850		583,435
Common stock equivalents (as determined by applying the treasury stock method) (1)		1,376		—		2,146		6,791
Weighted average number of common shares and potential dilutive common shares outstanding		550,308		583,644		551,996		590,226
Net earnings (loss) per common share attributable to Centene Corporation:
Basic earnings (loss) per common share		$	1.93	$	(0.29)	$	3.98	$	1.16
Diluted earnings (loss) per common share		$	1.92	$	(0.29)	$	3.96	$	1.15
(1)	The reduction in common stock equivalents is primarily driven by the distribution of long-term stock awards to the estate of the Company's former CEO during the first quarter of 2023, which were fully dilutive prior to their distribution.