LabCorp 2015 Annual Report Download - page 107
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Index
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, 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) —
(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)
Current year adjustments (370.7)
19.0
(0.1)
(351.8)
Amounts reclassified from accumulated other
comprehensive income (a) (b) —
(11.3)
—
(11.3)
Tax effect of adjustments 90.1
(3.5)
—
86.6
Balance at December 31, 2015 $ (212.6)
$ (74.4)
$ —
$ (287.0)
(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.
The sources of income before taxes, classified between domestic and foreign entities are as follows:
Pre-tax income 2015
2014
2013
Domestic $ 599.6
$ 758.6
$ 844.2
Foreign 132.5
68.1
71.4
Total pre-tax income $ 732.1
$ 826.7
$ 915.6
The provisions (benefits) for income taxes in the accompanying consolidated statements of operations consist of the following:
Years Ended December 31,
2015
2014
2013
Current:
Federal $ 218.3
$ 233.6
$ 231.6
State 39.8
30.1
29.9
Foreign 69.4
22.7
22.5
$ 327.5
$ 286.4
$ 284.0
Deferred:
Federal $ (14.1)
$ 29.1
$ 55.2
State (4.2)
3.7
6.1
Foreign (15.1)
(5.1)
(5.1)
(33.4)
27.7
56.2
$ 294.1
$ 314.1
$ 340.2
F-27