Quest Diagnostics 2003 Annual Report Download - page 71
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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2003 AND 2002
(in thousands, except per share data)
2003 2002
Assets
Current assets:
Cash and cash equivalents......................................................... $ 154,958 $ 96,777
Accounts receivable, net of allowance of $211,739 and $193,456 at December 31,
2003 and 2002, respectively ..................................................... 609,187 522,131
Inventories ....................................................................... 72,484 60,899
Deferred income taxes ............................................................ 108,975 102,700
Prepaid expenses and other current assets .......................................... 50,182 41,936
Total current assets ............................................................. 995,786 824,443
Property, plant and equipment, net .............................................. 607,305 570,149
Goodwill, net .................................................................... 2,518,875 1,788,850
Intangible assets, net ............................................................ 16,978 22,083
Deferred income taxes ........................................................... 49,635 29,756
Other assets ..................................................................... 112,839 88,916
Total assets...................................................................... $4,301,418 $3,324,197
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses ............................................ $ 649,850 $ 609,945
Current portion of long-term debt ................................................. 73,950 26,032
Total current liabilities .......................................................... 723,800 635,977
Long-term debt.................................................................. 1,028,707 796,507
Other liabilities .................................................................. 154,217 122,850
Commitments and contingencies
Common stockholders’ equity:
Common stock, par value $0.01 per share; 300,000 shares authorized; 106,804 and
97,963 shares issued at December 31, 2003 and 2002, respectively ................ 1,068 980
Additional paid-in capital ......................................................... 2,267,014 1,817,511
Retained earnings (accumulated deficit) ............................................ 380,559 (40,772)
Unearned compensation ........................................................... (2,346) (3,332)
Accumulated other comprehensive income (loss) .................................... 5,947 (5,524)
Treasury stock, at cost; 3,990 shares at December 31, 2003 ......................... (257,548) -
Total common stockholders’ equity .............................................. 2,394,694 1,768,863
Total liabilities and stockholders’ equity ......................................... $4,301,418 $3,324,197
The accompanying notes are an integral part of these statements.
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