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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Premium and service revenues $ 34,838 $ 33,968 $ 69,790 $ 68,200
Premium tax 2,770 1,968 6,707 4,921
Total revenues 37,608 35,936 76,497 73,121
Expenses:        
Medical costs 29,347 27,312 58,781 55,150
Cost of services 877 2,099 1,747 4,087
Selling, general and administrative expenses 3,016 2,800 6,027 5,545
Depreciation expense 146 164 288 320
Amortization of acquired intangible assets 179 199 362 398
Premium tax expense 2,854 2,041 6,865 5,047
Impairment 18 1,450 38 1,450
Total operating expenses 36,437 36,065 74,108 71,997
Earnings (loss) from operations 1,171 (129) 2,389 1,124
Other income (expense):        
Investment and other income 425 42 778 94
Debt extinguishment 0 13 0 16
Interest expense (181) (162) (361) (322)
Earnings (loss) before income tax 1,415 (236) 2,806 912
Income tax expense (benefit) 360 (65) 621 231
Net earnings (loss) 1,055 (171) 2,185 681
(Earnings) loss attributable to noncontrolling interests 3 (1) 3 (4)
Net earnings (loss) attributable to Centene Corporation $ 1,058 $ (172) $ 2,188 $ 677
Net earnings (loss) per common share attributable to Centene Corporation:        
Basic earnings (loss) per common share (in dollars per share) $ 1.93 $ (0.29) $ 3.98 $ 1.16
Diluted earnings (loss) per common share (in dollars per share) $ 1.92 $ (0.29) $ 3.96 $ 1.15
Weighted average number of common shares outstanding:        
Basic (in shares) 548,932 583,644 549,850 583,435
Diluted (in shares) 550,308 583,644 551,996 590,226
Premium        
Revenues:        
Premium and service revenues $ 33,713 $ 31,510 $ 67,538 $ 63,399
Service        
Revenues:        
Premium and service revenues $ 1,125 $ 2,458 $ 2,252 $ 4,801