LabCorp 2014 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2014 LabCorp annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

49
Issuer Purchases of Equity Securities
The following table sets forth information with respect to purchases of shares of the Company’s Common Stock made during
the quarter ended December 31, 2014, by or on behalf of the Company (dollar amounts in millions):
Total
Number
of Shares
Repurchased
Average
Price
Paid
Per
Share
Total Number
of Shares
Repurchased as
Part of Publicly
Announced
Program
Maximum
Dollar Value
of Shares
that May Yet Be
Repurchased
Under
the Program
October 1 – October 31 0.3 $ 100.94 0.3 $ 794.0
November 1 – November 30 0.1 107.62 0.1 789.5
December 1 – December 31 — 0.00 — 789.5
0.4 $ 101.67 0.4
The Board of Directors has authorized the repurchase of specified amounts of the Company's common stock since 2007,
including the Board of Director's authorization on February 10, 2012 to purchase up to $500.0 million of additional shares of the
Company's common stock. As of December 31, 2013, the Company had outstanding authorization from the Board of Directors to
purchase up to $1,058.5 million of Company common stock based on settled trades as of that date. As of December 31, 2014, the
Company had outstanding authorization from the Board of Directors to purchase up to $789.5 million of Company common stock.
The repurchase authorization has no expiration date. Following the announcement of the acquisition of Covance, Inc., the Company
suspended its share repurchases. The Company does not anticipate resuming its share repurchase activity until it reaches its targeted
leverage ratio of total debt to consolidated EBITDA of 2.5 to 1.0.