LabCorp 2008 Annual Report Download - page 36

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Laboratory Corporation of America
34 Laboratory Corporation of America® Holdings 2008
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, 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
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 benefit 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 benefit 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
Comprehensive earnings:
Net earnings – – 464.5 – – – 464.5
Other comprehensive earnings:
Foreign currency translation adjustments – – – – – (129.6) (129.6)
Interest rate swap adjustments – – – – – (13.5) (13.5)
Net benefit plan adjustments – – – – – (81.0) (81.0)
Tax effect of other comprehensive earnings adjustments – – – – – 87.4 87.4
Comprehensive earnings 327.8
Issuance of common stock under employee stock plans 0.1 64.3 – – – – 64.4
Surrender of restricted stock awards and performance shares – – – (32.7) – – (32.7)
Conversion of zero-coupon convertible debt – 0.1 – – – – 0.1
Stock compensation – 36.2 – – – – 36.2
Value of minority interest put – (123.0) – – – – (123.0)
Income tax benefit from stock options exercised – 20.8 – – – – 20.8
Purchase of common stock (0.5) (221.9) (108.2) – – – (330.6)
Balance at December 31, 2008 $ 12.8 $ 22.0 $ 2,600.0 $ (929.8) $ – $ (16.7) $ 1,688.3
The accompanying notes are an integral part of these consolidated financial statements.