LabCorp 2009 Annual Report Download - page 38

36 LABORATORY CORPORATION OF AMERICA
December 31,
(In Millions) 2009 2008
Assets
Current assets:
Cash and cash equivalents $ 148.5 $ 219.7
Accounts receivable, net of allowance for doubtful accounts of $173.1 and $161.0 at
December 31, 2009 and 2008, respectively 574.2 631.6
Supplies inventories 90.0 91.0
Prepaid expenses and other 80.1 83.8
Deferred income taxes 42.8 6.7
Total current assets 935.6 1,032.8
Property, plant and equipment, net 500.8 496.4
Goodwill, net 1,897.1 1,772.2
Intangible assets, net 1,342.2 1,222.6
Investments in joint venture partnerships 71.4 72.0
Other assets, net 90.7 73.5
Total assets $ 4,837.8 $ 4,669.5
Liabilities And Shareholders’ Equity
Current liabilities:
Accounts payable $ 183.1 $ 159.7
Accrued expenses and other 275.7 266.4
Noncontrolling interest 142.4 –
Short-term borrowings and current portion of long-term debt 417.2 120.8
Total current liabilities 1,018.4 546.9
Long-term debt, less current portion 977.2 1,600.5
Deferred income taxes and other tax liabilities 577.7 522.9
Other liabilities 158.4 189.6
Total liabilities 2,731.7 2,859.9
Commitments and contingent liabilities – –
Noncontrolling interest – 121.3
Shareholders’ equity
Common stock, 105.3 and 108.2 shares outstanding at December 31, 2009 and 2008, respectively 12.5 12.8
Additional paid-in capital 36.7 237.4
Retained earnings 2,927.9 2,384.6
Less common stock held in treasury (932.5) (929.8)
Accumulated other comprehensive income (loss) 61.5 (16.7)
Total shareholders’ equity 2,106.1 1,688.3
Total liabilities and shareholders’ equity $ 4,837.8 $ 4,669.5
The accompanying notes are an integral part of these consolidated financial statements.
LABORATORY CORPORATION OF AMERICA
Consolidated Balance Sheets