Quest Diagnostics 2000 Annual Report Download - page 72

F-2
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2000 and 1999
(in thousands, except per share data)
2000 1999
Assets
Current assets:
Cash and cash equivalents ................................................................................ $ 171,477 $ 27,284
Accounts receivable, net of allowance of $120,358 and $121,550
at December 31, 2000 and 1999, respectively.............................................. 485,573 539,256
Inventories......................................................................................................... 44,274 52,302
Deferred income taxes ...................................................................................... 188,483 192,808
Prepaid expenses and other current assets........................................................ 90,882 61,011
Total current assets........................................................................................ 980,689 872,661
Property, plant and equipment, net ..................................................................... 449,856 427,978
Intangible assets, net .............................................................................................. 1,261,603 1,435,882
Deferred income taxes............................................................................................ 42,622 36,174
Other assets ............................................................................................................. 129,766 105,786
Total assets .............................................................................................................. $ 2,864,536 $ 2,878,481
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses.......................................................... $ 689,582 $ 655,809
Short-term borrowings and current portion of long-term debt ........................ 265,408 45,435
Total current liabilities .................................................................................. 954,990 701,244
Long-term debt ....................................................................................................... 760,705 1,171,442
Other liabilities ....................................................................................................... 117,046 142,733
Commitments and contingencies
Preferred stock ....................................................................................................... 1,000 1,000
Common stockholders’ equity:
Common stock, par value $0.01 per share; 100,000 shares authorized;
46,541 and 44,353 shares issued at December 31, 2000 and 1999,
respectively.................................................................................................... 465 444
Additional paid-in capital ................................................................................. 1,591,976 1,502,551
Accumulated deficit.......................................................................................... (525,111) (627,045)
Unearned compensation.................................................................................... (31,077) (11,438)
Accumulated other comprehensive loss........................................................... (5,458) (2,450)
Total common stockholders’ equity ............................................................. 1,030,795 862,062
Total liabilities and stockholders’ equity............................................................. $ 2,864,536 $ 2,878,481
The accompanying notes are an integral part of these statements.