LabCorp 2014 Annual Report Download - page 104

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F-25
During 2014, the Company purchased 2.7 shares of its common stock at a total cost of $269.0. As of December 31, 2014, the
Company had outstanding authorization from the Board of Directors to purchase $789.5 of Company common stock. Following
the announcement of the acquisition of Covance, the Company suspended its share repurchases. The Company does not anticipate
any share repurchase activity in 2015.
Accumulated Other Comprehensive Earnings
The components of accumulated other comprehensive earnings are as follows:
Foreign
Currency
Translation
Adjustments
Net
Benefit
Plan
Adjustments
Unrealized
Gains and
Losses on
Available for
Sale Securities
Accumulated
Other
Comprehensive
Earnings
Balance at December 31, 2011 $ 143.5 $ (98.0) — $ 45.5
Current year adjustments 31.3 (4.8) — 26.5
Amounts reclassified from accumulated other
comprehensive income (a) — 12.1 — 12.1
Tax effect of adjustments (11.9)(2.8)—
(14.7)
Balance at December 31, 2012 162.9 (93.5) — 69.4
Current year adjustments (63.2) 31.6 16.4 (15.2)
Amounts reclassified from accumulated other
comprehensive income (a) — 10.5 — 10.5
Tax effect of adjustments 23.5 (15.7)(6.3) 1.5
Balance at December 31, 2013 123.2 (67.1) 10.1 66.2
Current year adjustments (89.5)(12.0) 2.0 (99.5)
Amounts reclassified from accumulated other
comprehensive income (a) (b) —(6.6)(18.3)(24.9)
Tax effect of adjustments 34.3 7.1 6.3 47.7
Balance at December 31, 2014 $ 68.0 $ (78.6) $ 0.1 $ (10.5)
(a) The amortization of prior service cost is included in the computation of net periodic benefit cost. Refer to Note 16 Pension
and Postretirement Plans for additional information regarding the Company's net periodic benefit cost.
(b) The realized gain from the sale of an available for sale investment and the other-than-temporary impairment on an available
for sale investment are included in Other, net on the Consolidated Statement of Operations.
13. INCOME TAXES
The sources of income before taxes, classified between domestic and foreign entities are as follows:
Pre-tax income 2014 2013 2012
Domestic $ 758.6 $ 844.2 $ 909.0
Foreign 68.1 71.4 35.2
Total pre-tax income $ 826.7 $ 915.6 $ 944.2
The provisions (benefits) for income taxes in the accompanying consolidated statements of operations consist of the `following:
LABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars and shares in millions, except per share data)