Quest Diagnostics 2005 Annual Report Download - page 110

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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, 2005
Non-
Subsidiary Guarantor
Parent Guarantors Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents..................... $ 76,941 $ 4,759 $ 10,430 $ - $ 92,130
Accounts receivable, net ...................... 31,611 152,314 548,982 - 732,907
Other current assets ........................... 43,932 116,099 84,429 - 244,460
Total current assets ......................... 152,484 273,172 643,841 - 1,069,497
Property, plant and equipment, net ............. 200,438 523,907 29,318 - 753,663
Goodwill and intangible assets, net ............ 156,314 3,142,702 45,594 - 3,344,610
Intercompany receivable (payable) ............. 418,892 (14,091) (404,801) - -
Investment in subsidiaries ..................... 3,199,319 - - (3,199,319) -
Other assets .................................. 94,050 7,754 37,784 (1,243) 138,345
Total assets ................................ $4,221,497 $3,933,444 $351,736 $(3,200,562) $5,306,115
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses ........ $ 433,310 $ 293,705 $ 37,438 $ - $ 764,453
Short-term borrowings and current portion of
long-term debt ............................. 35,306 240,553 60,980 - 336,839
Total current liabilities ...................... 468,616 534,258 98,418 - 1,101,292
Long-term debt ............................... 932,950 321,458 978 - 1,255,386
Other liabilities ............................... 56,947 107,121 23,628 (1,243) 186,453
Stockholders’ equity .......................... 2,762,984 2,970,607 228,712 (3,199,319) 2,762,984
Total liabilities and stockholders’ equity ..... $4,221,497 $3,933,444 $351,736 $(3,200,562) $5,306,115
Condensed Consolidating Balance Sheet
December 31, 2004
Non-
Subsidiary Guarantor
Parent Guarantors Subsidiaries Eliminations Consolidated
Assets:
Current assets:
Cash and cash equivalents..................... $ 56,424 $ 6,058 $ 10,820 $ - $ 73,302
Accounts receivable, net ...................... 22,365 75,359 551,557 - 649,281
Other current assets ........................... 12,032 109,100 87,365 - 208,497
Total current assets ......................... 90,821 190,517 649,742 - 931,080
Property, plant and equipment, net ............. 213,416 379,952 26,117 - 619,485
Goodwill and intangible assets, net ............ 158,021 2,315,015 45,376 - 2,518,412
Intercompany receivable (payable) ............. 493,578 (124,047) (369,531) - -
Investment in subsidiaries ..................... 2,109,612 - - (2,109,612) -
Other assets .................................. 49,031 49,100 36,680 - 134,811
Total assets ................................ $3,114,479 $2,810,537 $388,384 $(2,109,612) $4,203,788
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses ........ $ 368,363 $ 268,420 $ 32,204 $ - $ 668,987
Short-term borrowings and current portion of
long-term debt ............................. 244,713 167 129,921 - 374,801
Total current liabilities ...................... 613,076 268,587 162,125 - 1,043,788
Long-term debt ............................... 170,293 551,771 1,957 - 724,021
Other liabilities ............................... 42,459 80,155 24,714 - 147,328
Stockholders’ equity .......................... 2,288,651 1,910,024 199,588 (2,109,612) 2,288,651
Total liabilities and stockholders’ equity ........ $3,114,479 $2,810,537 $388,384 $(2,109,612) $4,203,788
F-33