Quest Diagnostics 2005 Annual Report Download - page 80
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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2005 AND 2004
(in thousands, except per share data)
2005 2004
Assets
Current assets:
Cash and cash equivalents......................................................... $ 92,130 $ 73,302
Accounts receivable, net of allowance for doubtful accounts of $193,754 and
$202,857 at December 31, 2005 and 2004, respectively ........................... 732,907 649,281
Inventories ....................................................................... 77,939 75,327
Deferred income taxes ............................................................ 107,442 83,030
Prepaid expenses and other current assets .......................................... 59,079 50,140
Total current assets ............................................................. 1,069,497 931,080
Property, plant and equipment, net .............................................. 753,663 619,485
Goodwill, net .................................................................... 3,197,227 2,506,950
Intangible assets, net ............................................................ 147,383 11,462
Deferred income taxes ........................................................... - 29,374
Other assets ..................................................................... 138,345 105,437
Total assets ...................................................................... $5,306,115 $4,203,788
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses ............................................ $ 764,453 $ 668,987
Short-term borrowings and current portion of long-term debt ........................ 336,839 374,801
Total current liabilities .......................................................... 1,101,292 1,043,788
Long-term debt .................................................................. 1,255,386 724,021
Other liabilities .................................................................. 186,453 147,328
Commitments and contingencies
Stockholders’ equity:
Common stock, par value $0.01 per share; 300,000 shares authorized; 213,674 and
213,567 shares issued at December 31, 2005 and 2004, respectively ............... 2,137 1,068
Additional paid-in capital ......................................................... 2,175,533 2,195,346
Retained earnings ................................................................. 1,292,510 818,734
Unearned compensation ........................................................... (3,321) (11)
Accumulated other comprehensive (loss) income .................................... (6,205) 3,866
Treasury stock, at cost; 15,219 and 17,347 shares at December 31, 2005 and 2004,
respectively .................................................................... (697,670) (730,352)
Total stockholders’ equity ....................................................... 2,762,984 2,288,651
Total liabilities and stockholders’ equity ......................................... $5,306,115 $4,203,788
The accompanying notes are an integral part of these statements.
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