LabCorp 2009 Annual Report Download - page 40

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38 LABORATORY CORPORATION OF AMERICA
LABORATORY CORPORATION OF AMERICA
Consolidated Statements of Changes in Shareholders’ Equity
Accumulated
Additional Other Total
Common Paid-in Retained Treasury Comprehensive Shareholders’
(In Millions) Stock Capital Earnings Stock Income (Loss) Equity
Balance at December 31, 2006 $ 14.4 $ 1,027.7 $ 1,767.9 $ (891.6) $ 58.7 $ 1,977.1
Comprehensive earnings:
Net earnings attributable to Laboratory
Corporation of America Holdings – – 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 authoritative guidance in connection
with convertible debt instruments that may be
settled in cash upon conversion – 215.4 (215.4) – – –
Adoption of authoritative guidance in connection with
uncertain tax positions – 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 $ 460.9 $ 2,028.3 $ (897.1) $ 120.0 $ 1,725.3
Comprehensive earnings:
Net earnings attributable to Laboratory
Corporation of America Holdings – – 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 noncontrolling 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 $ 237.4 $ 2,384.6 $ (929.8) $ (16.7) $ 1,688.3
Comprehensive earnings:
Net earnings attributable to Laboratory
Corporation of America Holdings – – 543.3 – – 543.3
Other comprehensive earnings:
Foreign currency translation adjustments – – – – 93.3 93.3
Interest rate swap adjustments – – – – 2.9 2.9
Net benefit plan adjustments – – – – 31.5 31.5
Tax effect of other comprehensive earnings adjustments – – – – (49.5) (49.5)
Comprehensive earnings 621.5
Issuance of common stock under employee stock plans – 24.8 – – – 24.8
Surrender of restricted stock awards – – – (2.7) – (2.7)
Conversion of zero-coupon convertible debt 0.1 11.3 – – – 11.4
Stock compensation – 36.4 – – – 36.4
Income tax benefit adjustments related to stock options exercised – (0.1) – – – (0.1)
Purchase of common stock (0.4) (273.1) – – – (273.5)
Balance at December 31, 2009 $ 12.5 $ 36.7 $ 2,927.9 $ (932.5) $ 61.5 $ 2,106.1
The accompanying notes are an integral part of these consolidated financial statements.