LabCorp 2006 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2006 LabCorp annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

32 Laboratory Corporation of America® Holdings 2006
............................... ........
.......................................
CONSOLIDATED STATEMENTS OF CHANGES
IN SHAREHOLDERS’ EQUITY
Unearned Accumulated
Additional Restricted Other Total
Common Paid-in Retained Treasury Stock Comprehensive Shareholders’
(in millions) Stock Capital Earnings Stock Compensation Earnings Equity
BALANCE AT DECEMBER 31, 2003 $14.9 $1,440.9 $ 587.1 $(159.3) $(22.4) $ 34.7 $1,895.9
Comprehensive earnings:
Net earnings – – 363.0 – – – 363.0
Other comprehensive earnings:
Foreign currency translation adjustments – – – – – 40.3 40.3
Minimum pension liability – – – – – 35.6 35.6
Tax effect of other comprehensive loss adjustments – – – – – (28.9) (28.9)
Comprehensive earnings 410.0
Issuance of common stock under employee stock plans 0.2 51.5 – – – – 51.7
Issuance of restricted stock awards – 0.7 – – (0.7) – –
Surrender of restricted stock awards – – – (6.8) – – (6.8)
Cancellation of restricted stock awards – (0.1) – – 0.1 – –
Stock compensation – – – – 15.5 – 15.5
Income tax benefit from stock options exercised – 11.1 – – – – 11.1
Purchase of common stock – – – (378.1) – – (378.1)
BALANCE AT DECEMBER 31, 2004 $15.1 $1,504.1 $ 950.1 $(544.2) $ (7.5) $ 81.7 $1,999.3
Comprehensive earnings:
Net earnings – – 386.2 – – – 386.2
Other comprehensive earnings:
Foreign currency translation adjustments – – – – – 14.3 14.3
Tax effect of other comprehensive loss adjustments – – – – – (5.7) (5.7)
Comprehensive earnings 394.8
Issuance of common stock under employee stock plans 0.2 62.3 – – – – 62.5
Issuance of restricted stock awards – 7.3 – – (7.3) – –
Surrender of restricted stock awards – – – (7.3) – – (7.3)
Cancellation of restricted stock awards – (0.3) – – 0.3 – –
Stock compensation – 6.1 – – 7.6 – 13.7
Income tax benefit from stock options exercised – 11.9 – – – – 11.9
Retirement of common stock (0.5) (251.7) – – – – (252.2)
Purchase of common stock – – – (337.0) – – (337.0)
BALANCE AT DECEMBER 31, 2005 $14.8 $1,339.7 $1,336.3 $(888.5) $ (6.9) $ 90.3 $1,885.7
Comprehensive earnings:
Net earnings – – 431.6 – – – 431.6
Other comprehensive earnings:
Foreign currency translation adjustments – – – – – (1.1) (1.1)
Tax effect of other comprehensive loss adjustments – – – – – 0.4 0.4
Comprehensive earnings 430.9
Adoption of FASB Statement No. 158, net of tax – – – – – (30.9) (30.9)
Issuance of common stock under employee stock plans 0.2 91.8 – – – – 92.0
Surrender of restricted stock awards – – – (3.1) – – (3.1)
Reversal of unamortized deferred compensation balance – (6.9) – – 6.9 – –
Stock compensation – 52.7 – – – – 52.7
Income tax benefit from stock options exercised – 11.3 – – – – 11.3
Retirement of common stock (0.6) (460.9) – – – – (461.5)
BALANCE AT DECEMBER 31, 2006 $14.4 $1,027.7 $1,767.9 $(891.6) $ – $ 58.7 $1,977.1
The accompanying notes are an integral part of these consolidated financial statements.