LabCorp 2013 Annual Report Download - page 10

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6
The selected financial data presented below under the captions “Statement of Operations Data” and “Balance Sheet Data” as of and for
the five-year period ended December 31, 2013 are derived from consolidated financial statements of the Company, which have been
audited by an independent registered public accounting firm. This data should be read in conjunction with the accompanying notes,
the Company’s consolidated financial statements and the related notes thereto, and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” all included elsewhere herein.
Year Ended December 31,
(In millions, except per share amounts) 2013(a) 2012(b)
2011(c) (d) 2010(e) 2009(f )
Statement of Operations Data:
Net sales $ 5,808.3 $ 5,671.4 $ 5,542.3 $ 5,003.9 $ 4,694.7
Gross profit 2,223.2 2,249.7 2,274.7 2,097.8 1,970.9
Operating income 990.9 1,023.5 948.4 978.8 935.9
Net earnings attributable to Laboratory
Corporation of America Holdings 573.8 583.1 519.7 558.2 543.3
Basic earnings per common share $ 6.36 $ 6.09 $ 5.20 $ 5.42 $ 5.06
Diluted earnings per common share $ 6.25 $ 5.99 $ 5.11 $ 5.29 $ 4.98
Basic weighted average common
shares outstanding 90.2 95.7 100.0 103.0 107.4
Diluted weighted average common
shares outstanding 91.8 97.4 101.8 105.4 109.1
Balance Sheet Data:
Cash and cash equivalents, and
short-term investments $ 404.0 $ 466.8 $ 159.3 $ 230.7 $ 148.5
Goodwill and intangible assets, net 4,594.8 4,569.4 4,302.5 4,275.4 3,239.3
Total assets 6,965.9 6,795.0 6,111.8 6,187.8 4,837.8
Long-term obligations(g) 3,000.4 2,655.0 2,221.0 2,188.4 1,394.4
Total shareholders’ equity 2,491.3 2,717.4 2,503.5 2,466.3 2,106.1
(a) During 2013, the Company recorded net restructuring charges of $21.8. The charges were comprised of $15.4 in severance and other personnel costs and
$9.5 in facility-related costs primarily associated with facility closures and general integration initiatives. These charges were offset by the reversal of previously
established reserves of $0.7 in unused severance and $2.4 in unused facility-related costs.
(b) During 2012, the Company recorded net restructuring charges of $25.3. The charges were comprised of $16.2 in severance and other personnel costs and
$19.6 in facility-related costs primarily associated with the ongoing integration activities of Orchid and the Integrated Genetics business (formerly Genzyme
Genetics) and costs associated with the previously announced termination of an executive vice president. These charges were offset by the reversal of previously
established reserves of $6.3 in unused severance and $4.2 in unused facility-related costs. As part of the Clearstone integration, the Company also recorded
a $6.9 loss on the disposal of one of its European subsidiaries in Other, net under Other income (expenses) during 2012. In addition, the Company recorded
$6.2 in accelerated amortization relating to the termination of a licensing agreement.
LABORATORY CORPORATION OF AMERICA
Selected Financial Data