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Centene Corp (CNC) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Centene Corp

CIK: 1071739 Ticker: CNC



N E W S R E L E A S E                                                                                          
Contact:
Investor Relations Inquiries
 
Edmund E. Kroll
 
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(212) 759-0382
 
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Deanne Lane
 
Vice President, Media Affairs
 
(314) 725-4477

FOR IMMEDIATE RELEASE

- CENTENE CORPORATION REPORTS 2014 FOURTH QUARTER AND FULL YEAR RESULTS -
-- 2014 Diluted earnings per share (EPS) from continuing operations for the year of $4.45 --
-- Board of Directors declares two-for-one stock split --

ST. LOUIS, MISSOURI (February 3, 2015) -- Centene Corporation (NYSE: CNC) today announced its financial results for the quarter and year ended December 31, 2014.  The following discussions, with the exception of cash flow information, are in the context of continuing operations.

2014 Results
 
Q4
 
Full Year
 
Premium and Service Revenues (in millions)
$
4,415

 
$
15,667

 
Consolidated Health Benefits Ratio
89.3
%
 
89.3
%
 
General & Administrative expense ratio
8.2
%
 
8.4
%
 
Diluted earnings per share (EPS)
$
1.74

 
$
4.45

 
Total cash flow from operations (in millions)
$
369

 
$
1,223

 

On February 2, 2015, the Board of Directors declared a two-for-one split of Centene's common stock in the form of a 100% stock dividend to be distributed on February 19, 2015 to stockholders of record on February 12, 2015. The impact of the stock split is not reflected in this press release.

Michael F. Neidorff, Centene's Chairman and Chief Executive Officer, stated, “By any measure, 2014 was a significant year in the history of Centene.  Membership grew by 1.2 million lives, revenue by almost 50%, and EPS by 55%.  We are more diversified by product and geography - including our entry into the international market.  We look forward to continued progress in 2015 and beyond.”

Fourth Quarter and Full Year Highlights

December 31, 2014 managed care membership of 4.1 million, an increase of 1.2 million members, or 41% over 2013.

Premium and service revenues for the fourth quarter of $4.4 billion, representing 54% growth compared to the fourth quarter of 2013 and $15.7 billion for 2014, representing 49% growth year over year.

Health Benefits Ratio of 89.3% for the fourth quarter 2014, compared to 88.1% in the fourth quarter of 2013 and 89.3% for the full year 2014 compared to 88.6% for the full year 2013.


1

The following information was filed by Centene Corp (CNC) on Tuesday, February 3, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Comprehensive Earnings
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Operations Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Stockholders' Equity (parenthetical)
Acquisitions And Noncontrolling Interest
Acquisitions And Noncontrolling Interest Acquisitions (details)
Acquisitions And Noncontrolling Interest Non Controlling Interest (details)
Acquisitions And Noncontrolling Interest Non Controlling Interest And Acquisition (tables)
Commitments
Commitments (details)
Commitments (tables)
Condensed Financial Information Of Registrant
Condensed Financial Information Of Registrant (condensed Balance Sheets) (details)
Condensed Financial Information Of Registrant (condensed Statements Of Cash Flows) (details)
Condensed Financial Information Of Registrant (condensed Statements Of Operations) (details)
Condensed Financial Information Of Registrant (tables)
Condensed Financial Information Of Registrant Basis Of Presentation And Significant Accounting Policies (details)
Condensed Financial Information Of Registrant Condensed Balance Sheets (parenthetical) (details)
Condensed Financial Information Of Registrant Dividends (details)
Condensed Financial Information Of Registrant Other Current Assets (details)
Contingencies
Contingencies Contingencies (details)
Debt
Debt (narrative) (details)
Debt (schedule Of Aggregate Maturities Of Debt) (details)
Debt (schedule Of Debt) (details)
Debt (tables)
Discontinued Operations (notes)
Discontinued Operations (tables)
Discontinued Operations Discontinued Operations (assets & Liabilities) (details)
Discontinued Operations Discontinued Operations (narrative) (details)
Discontinued Operations Discontinued Operations (operating Results) (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Fair Value Measurements
Fair Value Measurements (fair Value Measurements By Level For Assets Measured At Fair Value On A Recurring Basis) (details)
Fair Value Measurements (narrative) (details)
Fair Value Measurements (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (narrative) (details)
Goodwill And Intangible Assets (schedule Of Changes In Goodwill By Operating Segment) (details)
Goodwill And Intangible Assets (schedule Of Future Amortization Expenses) (details)
Goodwill And Intangible Assets (schedule Of Intangible Assets) (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (consolidated Income Tax Expense) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Of The Tax Provision At The U.s. Federal Statutory Rate To The Provision For Income Taxes) (details)
Income Taxes (tax Effects Of Temporary Differences Which Give Rise To Deferred Tax Assets And Liabilities) (details)
Income Taxes Income Taxes (tables)
Medical Claims Liability
Medical Claims Liability (schedule Of Change In Medical Claims Liability) (details)
Medical Claims Liability (tables)
Organization And Operations
Organization And Operations (details)
Property, Software And Equipment
Property, Software And Equipment (details)
Property, Software And Equipment (tables)
Quarterly Selected Financial Information
Quarterly Selected Financial Information (details)
Quarterly Selected Financial Information (tables)
Retirement Plan
Retirement Plan (details)
Segment Information
Segment Information (details)
Segment Information (tables)
Short-term And Long-term Investments And Restricted Deposits
Short-term And Long-term Investments And Restricted Deposits (contractual Maturities Of Short-term And Long-term Investments And Restricted Deposits) (details)
Short-term And Long-term Investments And Restricted Deposits (fair Value Of Available-for-sale Investments With Gross Unrealized Losses By Investment Type And Length Of Time) (details)
Short-term And Long-term Investments And Restricted Deposits (narrative) (details)
Short-term And Long-term Investments And Restricted Deposits (short-term And Long-term Investments And Restricted Deposits By Investment Type) (details)
Short-term And Long-term Investments And Restricted Deposits (tables)
Statutory Capital Requirements And Dividend Restrictions
Statutory Capital Requirements And Dividend Restrictions (details)
Stock Incentive Plans
Stock Incentive Plans (narrative) (details)
Stock Incentive Plans (non-vested Restricted Stock And Restricted Stock) (details)
Stock Incentive Plans (option Pricing Assumptions) (details)
Stock Incentive Plans (schedule Of Other Information Pertaining To Option Activity) (details)
Stock Incentive Plans (summary Of Stock Option Activity) (details)
Stock Incentive Plans (tables)
Stockholders' Equity
Stockholders' Equity (details)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (health Insurer Fee) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (schedule Of Allowance For Uncollectible Accounts) (details)
Summary Of Significant Accounting Policies (schedule Of Amortization Period For Intangible Assets) (details)
Summary Of Significant Accounting Policies (schedule Of Percentage Of Company's Total Revenues) (details)
Summary Of Significant Accounting Policies (schedule Of Property, Software And Equipment Depreciation Periods) (details)
Summary Of Significant Accounting Policies (tables)
Ticker: CNC
CIK: 1071739
Form Type: 10-K Annual Report
Accession Number: 0001071739-15-000034
Submitted to the SEC: Mon Feb 23 2015 4:11:57 PM EST
Accepted by the SEC: Mon Feb 23 2015
Period: Wednesday, December 31, 2014
Industry: Hospital And Medical Service Plans

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