LabCorp 2014 Annual Report Download - page 82
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F-3
PART I – FINANCIAL INFORMATION
Item 1. Financial Information
LABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In Millions)
December 31,
2014
December 31,
2013
ASSETS
Current assets:
Cash and cash equivalents $ 580.0 $ 404.0
Accounts receivable, net of allowance for doubtful accounts of $211.6 and $198.3
at December 31, 2014 and 2013, respectively 815.7 784.7
Supplies inventories 139.5 136.5
Prepaid expenses and other 157.5 106.9
Total current assets 1,692.7 1,432.1
Property, plant and equipment, net 786.5 707.4
Goodwill, net 3,099.4 3,022.8
Intangible assets, net 1,475.8 1,572.0
Joint venture partnerships and equity method investments 92.6 88.5
Other assets, net 154.8 143.1
Total assets $ 7,301.8 $ 6,965.9
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 282.3 $ 304.5
Accrued expenses and other 341.4 310.0
Deferred income taxes 5.5 9.9
Short-term borrowings and current portion of long-term debt 347.1 111.3
Total current liabilities 976.3 735.7
Long-term debt, less current portion 2,682.7 2,889.1
Deferred income taxes and other tax liabilities 530.4 563.9
Other liabilities 274.2 266.5
Total liabilities 4,463.6 4,455.2
Commitments and contingent liabilities
Noncontrolling interest 17.7 19.4
Shareholders’ equity
Common stock, 84.6 and 85.7 shares outstanding at December 31, 2014 and 2013,
respectively 10.4 10.5
Additional paid-in capital — —
Retained earnings 3,786.1 3,373.5
Less common stock held in treasury (965.5)(958.9)
Accumulated other comprehensive income (10.5) 66.2
Total shareholders’ equity 2,820.5 2,491.3
Total liabilities and shareholders’ equity $ 7,301.8 $ 6,965.9
The accompanying notes are an integral part of these consolidated financial statements.