For the year ending 2025-12-31, CNC had $3,939M increase in cash & cash equivalents over the period. $4,321M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| (loss) before income taxes | - | - | - | -615 |
| Income tax benefit | - | - | - | -208 |
| Net (loss) before equity in subsidiaries | - | - | - | -407 |
| Equity in earnings from subsidiaries | - | - | - | 1,609 |
| Net earnings (loss) | -6,677 | 3,294 | 2,699 | 1,202 |
| Depreciation and amortization | 1,275 | 1,241 | 1,293 | 1,553 |
| Stock compensation expense | 204 | 212 | 216 | 234 |
| Impairment | 7,311 | 13 | 529 | 2,318 |
| (gain) on debt extinguishment | 1 | 0 | 0 | 25 |
| (gain) on acquisition | - | 0 | 0 | 2 |
| Deferred income taxes | -60 | 13 | -78 | -631 |
| (gain) loss on divestitures, net | 2 | 120 | 152 | 772 |
| Loss on disposal of equipment | - | 0 | 0 | -221 |
| Other adjustments, net | - | -16 | -172 | 31 |
| Premium and trade receivables | -1,480 | 4,333 | 2,380 | 1,627 |
| Other assets | 230 | -46 | -5 | -128 |
| Medical claims liabilities | 2,336 | 368 | 1,261 | 2,397 |
| Unearned revenue | 80 | -54 | 238 | 31 |
| Accounts payable and accrued expenses | -657 | -528 | 3,398 | 421 |
| Other long-term liabilities | -46 | -70 | 856 | 842 |
| Other operating activities, net | 75 | 56 | -4 | 2 |
| Net cash provided by operating activities | 5,088 | 154 | 8,053 | 6,261 |
| Capital expenditures | 767 | 644 | 799 | 1,004 |
| Purchases of investments | 4,541 | 7,183 | 6,622 | 6,736 |
| Sales and maturities of investments | 5,780 | 5,785 | 5,523 | 3,802 |
| Acquisitions, net of cash acquired | - | 0 | 0 | 1,460 |
| Divestiture proceeds, net of divested cash | 0 | 990 | 707 | 2,477 |
| Other investing activities, net | - | - | 0 | 0 |
| Net cash provided by (used in) investing activities | 472 | -1,052 | -1,191 | -2,921 |
| Proceeds from long-term debt | 750 | 1,300 | 2,335 | 360 |
| Payments and repurchases of long-term debt | 1,895 | 622 | 2,316 | 1,490 |
| Common stock repurchases | 475 | 3,124 | 1,633 | 3,096 |
| Proceeds from common stock issuances | 37 | 46 | 44 | 70 |
| Payments for debt extinguishment | - | 0 | 0 | 14 |
| Purchase of noncontrolling interest | 19 | 0 | 88 | - |
| Debt issuance costs | - | - | 0 | 0 |
| Other financing activities, net | -19 | -6 | 0 | -27 |
| Net cash used in financing activities | -1,621 | -2,406 | -1,658 | -4,197 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 0 | 8 | -32 | -11 |
| Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents | 3,939 | -3,296 | 5,172 | -868 |
| Cash and cash equivalents at beginning of period | - | 17,452 | - | - |
| Cash and cash equivalents at end of period | - | 14,156 | - | - |
CENTENE CORP (CNC)
CENTENE CORP (CNC)