Quest Diagnostics 2005 Annual Report Download - page 116

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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
The following is a reconciliation of non-GAAP measures presented in the financial highlights to their most
comparable measure under generally accepted accounting principles.
Year ended December 31,
2005 2004 2003 2002 2001
Net income ........................................ $546,277 $499,195 $436,717 $322,154 $162,303
Add:
Amortization of goodwill, net of taxes ............... ----35,964
Loss on debt extinguishment, net of taxes ............ ----25,207
Adjusted net income ............................... $546,277 $499,195 $436,717 $322,154 $223,474
Diluted earnings per common share
Reported diluted earnings per common share ......... $ 2.66 $ 2.35 $ 2.02 $ 1.59 $ 0.83
Adjusted diluted earnings per common share ......... $ 2.66 $ 2.35 $ 2.02 $ 1.59 $ 1.14
Weighted average number of common shares
outstanding—diluted .............................. 205,530 214,145 217,578 205,294 195,779
Operating income .................................. $968,111 $891,217 $796,454 $592,142 $411,550
Add:
Amortization of goodwill ............................ ----38,392
Adjusted operating income ......................... $968,111 $891,217 $796,454 $592,142 $449,942
Year ended December 31,
2000 1999 1998 1997
Net income (loss) ............................................. $102,052 $ (3,413) $ 26,885 $ (22,260)
Add:
Amortization of goodwill, net of taxes .......................... 36,023 22,013 14,133 14,268
Provision for restructuring and other special charges, net of taxes ...... - 44,118 - 39,881
Loss on debt extinguishment, net of taxes ....................... 2,896 2,139 - -
Adjusted net income .......................................... $140,971 $ 64,857 $ 41,018 $ 31,889
Diluted earnings per common share
Reported diluted earnings per common share .................... $ 0.54 $ (0.02) $ 0.22 $ (0.19)
Adjusted diluted earnings per common share .................... $ 0.75 $ 0.45 $ 0.34 $ 0.27
Weighted average number of common shares
outstanding—diluted ......................................... 188,601 143,309 120,916 116,752
Reconciliation of Non-GAAP Measures