Quest Diagnostics 2003 Annual Report Download - page 101

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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(dollars in thousands unless otherwise indicated)
Condensed Consolidating Balance Sheet
December 31, 2003 Non-
Subsidiary Guarantor
Parent Guarantors Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents ......................... $ 141,588 $ 1,991 $ 11,379 $ - $ 154,958
Accounts receivable, net ........................... 17,919 164,247 427,021 - 609,187
Other current assets ............................... 36,576 114,758 80,307 - 231,641
Total current assets .............................. 196,083 280,996 518,707 - 995,786
Property, plant and equipment, net .................. 228,109 350,196 29,000 - 607,305
Goodwill and intangible assets, net ................. 158,295 2,332,147 45,411 - 2,535,853
Intercompany receivable (payable) .................. 510,958 (106,078) (404,880) - -
Investment in subsidiaries .......................... 1,929,235 - - (1,929,235) -
Other assets ....................................... 73,398 50,053 39,023 - 162,474
Total assets ..................................... $3,096,078 $2,907,314 $ 227,261 $(1,929,235) $4,301,418
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses............. $ 337,635 $ 281,753 $ 30,462 $ - $ 649,850
Current portion of long-term debt .................. - 73,950 - - 73,950
Total current liabilities........................... 337,635 355,703 30,462 - 723,800
Long-term debt.................................... 315,844 710,908 1,955 - 1,028,707
Other liabilities.................................... 47,905 83,781 22,531 - 154,217
Common stockholders’ equity ...................... 2,394,694 1,756,922 172,313 (1,929,235) 2,394,694
Total liabilities and stockholders’ equity .......... $3,096,078 $2,907,314 $ 227,261 $(1,929,235) $4,301,418
Condensed Consolidating Balance Sheet
December 31, 2002 Non-
Subsidiary Guarantor
Parent Guarantors Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents ......................... $ 79,015 $ 7,377 $ 10,385 $ - $ 96,777
Accounts receivable, net ........................... 15,032 89,626 417,473 - 522,131
Other current assets ............................... 52,952 63,148 89,435 - 205,535
Total current assets .............................. 146,999 160,151 517,293 - 824,443
Property, plant and equipment, net .................. 227,263 317,243 25,643 - 570,149
Goodwill and intangible assets, net ................. 159,293 1,607,767 43,873 - 1,810,933
Intercompany receivable (payable) .................. 194,874 236,752 (431,626) - -
Investment in subsidiaries .......................... 1,631,868 - - (1,631,868) -
Other assets ....................................... 61,653 26,905 30,114 - 118,672
Total assets ..................................... $2,421,950 $2,348,818 $ 185,297 $(1,631,868) $3,324,197
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses............. $ 295,479 $ 287,539 $ 26,927 $ - $ 609,945
Current portion of long-term debt .................. - 25,689 343 - 26,032
Total current liabilities........................... 295,479 313,228 27,270 - 635,977
Long-term debt.................................... 315,109 478,863 2,535 - 796,507
Other liabilities.................................... 42,499 62,339 18,012 - 122,850
Common stockholders’ equity ...................... 1,768,863 1,494,388 137,480 (1,631,868) 1,768,863
Total liabilities and stockholders’ equity .......... $2,421,950 $2,348,818 $ 185,297 $(1,631,868) $3,324,197
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