LabCorp 2007 Annual Report Download - page 36

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34 Laboratory Corporation of America® Holdings 2007
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, 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
earnings 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 benefi t 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 benefi t from stock options exercised – 11.3 – – – – 11.3
Purchase 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
Comprehensive earnings:
Net earnings – – 476.8 – – – 476.8
Other comprehensive earnings:
Foreign currency translation adjustments – – – – – 96.9 96.9
Net benefi t plan adjustments – – – – – 4.0 4.0
Tax effect of other comprehensive
earnings adjustments – – – – – (39.6) (39.6)
Comprehensive earnings 538.1
Issuance of common stock under employee stock plans 0.1 77.5 – – – – 77.6
Surrender of restricted stock awards – – – (5.5) – – (5.5)
Adoption of FIN 48 – 0.5 (1.0) – – – (0.5)
Conversion of zero-coupon convertible debt – 0.7 – – – – 0.7
Stock compensation – 35.4 – – – – 35.4
Income tax benefi t from stock options exercised – 26.6 – – – – 26.6
Purchase of common stock (1.3) (922.9) – – – – (924.2)
BALANCE AT DECEMBER 31, 2007 $ 13.2 $ 245.5 $2,243.7 $ (897.1) $ – $ 120.0 $ 1,725.3
The accompanying notes are an integral part of these consolidated fi nancial statements.
Consolidated Statements of Changes in
Shareholders’ Equity
Laboratory Corporation of America