LabCorp 2008 Annual Report Download - page 54

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Notes to Consolidated Financial Statements
(Dollars and shares in millions, except per share data)
Laboratory Corporation of America
52 Laboratory Corporation of America® Holdings 2008
The following assumed benefit payments under the Company’s post-retirement benefit
plan, which reflect expected future service, as appropriate, and were used in the calculation of
projected benefit obligations, are expected to be paid as follows:
2009 $ 1.5
2010 1.6
2011 1.7
2012 1.8
2013 2.0
Years 2014-2018 11.9
18) Supplemental Cash Flow Information
Years Ended December 31,
2008 2007 2006
Supplemental schedule of cash flow information:
Cash paid during period for:
Interest $ 56.1 $ 40.4 $ 33.3
Income taxes, net of refunds 211.8 272.4 223.2
Disclosure of non-cash financing and investing activities:
Issuance of restricted stock awards and performance shares 20.3 11.9 8.9
Surrender of restricted stock awards and performance shares 32.7 5.5 3.1
Accrued repurchases of common stock (3.0) 3.0 –
19) Quarterly Data (Unaudited)
The following is a summary of unaudited quarterly data:
Year Ended December 31, 2008
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year
Net sales $ 1,103.2 $ 1,147.8 $ 1,135.1 $ 1,119.1 $ 4,505.2
Gross profit 470.5 491.8 461.6 449.9 1,873.8
Net earnings 130.3 104.2 111.9 118.1 464.5
Basic earnings per common share 1.18 0.94 1.02 1.09 4.23
Diluted earnings per common share 1.14 0.92 1.00 1.08 4.16
Year Ended December 31, 2007
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year
Net sales $ 998.7 $ 1,043.1 $ 1,020.6 $ 1,005.8 $ 4,068.2
Gross profit 421.7 442.0 422.1 405.4 1,691.2
Net earnings 122.5 128.7 111.2 114.4 476.8
Basic earnings per common share 1.01 1.10 0.95 1.01 4.08
Diluted earnings per common share 0.98 1.05 0.92 0.98 3.93