Other investing activities, net

[Table of Contents](#ia12bad69886c4075b7558d5239cbff30_7)CENTENE CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(In millions, unaudited)

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|   | Three Months Ended March 31, |
|   | 2022 |  | 2021 |
| Cash flows from operating activities: |   |  |   |
| Net earnings | $ | 852  |  |  | $ | 697  |  |
| Adjustments to reconcile net earnings to net cash provided by operating activities |
| Depreciation and amortization | 390  |  |  | 361  |  |
| Stock compensation expense | 70  |  |  | 51  |  |
|  |  |  |  |
| (Gain) loss on debt extinguishment | (3) |  |  | 46  |  |
|  |  |  |  |
| Deferred income taxes | 12  |  |  | 156  |  |
|  |  |  |  |
| Other adjustments, net | 22  |  |  | 2  |  |
| Changes in assets and liabilities |   |  |   |
| Premium and trade receivables | (3,099) |  |  | (1,891) |  |
| Other assets | (299) |  |  | (287) |  |
|  |  |  |  |
| Medical claims liabilities | 1,767  |  |  | 405  |  |
| Unearned revenue | 81  |  |  | 48  |  |
| Accounts payable and accrued expenses | 957  |  |  | 32  |  |
| Other long-term liabilities | 401  |  |  | 423  |  |
|  |  |  |  |
| Net cash provided by operating activities | 1,151  |  |  | 43  |  |
| Cash flows from investing activities: |   |  |   |
| Capital expenditures | (242) |  |  | (187) |  |
| Purchases of investments | (1,700) |  |  | (1,653) |  |
| Sales and maturities of investments | 1,047  |  |  | 1,391  |  |
| Acquisitions, net of cash acquired | (1,504) |  |  | (158) |  |
|  |  |  |  |
| Other investing activities, net | (2) |  |  | —  |  |
| Net cash used in investing activities | (2,401) |  |  | (607) |  |
| Cash flows from financing activities: |   |  |   |
|  |  |  |  |
| Proceeds from long-term debt | 100  |  |  | 2,317  |  |
| Payments of long-term debt | (526) |  |  | (2,295) |  |
| Common stock repurchases | (71) |  |  | (29) |  |
| Payments for debt extinguishment | (27) |  |  | (54) |  |
| Debt issuance costs | —  |  |  | (27) |  |
| Other financing activities, net | 26  |  |  | 15  |  |
| Net cash used in financing activities | (498) |  |  | (73) |  |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 33  |  |  | (16) |  |
| Net decrease in cash, cash equivalents and restricted cash and cash equivalents | (1,715) |  |  | (653) |  |
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period | 13,214  |  |  | 10,957  |  |
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period | $ | 11,499  |  |  | $ | 10,304  |  |
| Supplemental disclosures of cash flow information: |   |  |   |
| Interest paid | $ | 139  |  |  | $ | 130  |  |
| Income taxes paid | $ | 11  |  |  | $ | 20  |  |
|  |  |  |  |
|  |  |  |  |
| The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported within the Consolidated Balance Sheets to the totals above: |
|  | March 31, |
|  | 2022 |  | 2021 |
| Cash and cash equivalents | $ | 11,237  |  |  | $ | 9,627  |  |
| Restricted cash and cash equivalents, included in restricted deposits | 262  |  |  | 677  |  |
| Total cash, cash equivalents, and restricted cash and cash equivalents | $ | 11,499  |  |  | $ | 10,304  |  |

The accompanying notes to the consolidated financial statements are an integral part of these statements.5
