Quest Diagnostics 2006 Annual Report Download - page 122

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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, 2006
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents .................. $ 134,598 $ 7,661 $ 7,381 $ - $ 149,640
Accounts receivable, net .................... 4,380 139,934 630,100 - 774,414
Other current assets . . . ..................... 55,213 124,104 87,647 - 266,964
Total current assets . ..................... 194,191 271,699 725,128 - 1,191,018
Property, plant and equipment, net .......... 215,224 520,184 16,949 - 752,357
Goodwill and intangible assets, net .......... 152,903 3,365,359 66,130 - 3,584,392
Intercompany receivable (payable)........... 124,698 (9,576) (115,122) - -
Investment in subsidiaries................... 3,685,481 - - (3,685,481) -
Other assets . ............................... 133,051 6,748 38,909 (44,993) 133,715
Total assets .............................. $4,505,548 $4,154,414 $ 731,994 $(3,730,474) $5,661,482
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . . . . . $ 444,326 $ 363,074 $ 26,596 $ - $ 833,996
Short-term borrowings and current portion of
long-term debt ........................... - 16,874 300,000 - 316,874
Total current liabilities ................... 444,326 379,948 326,596 - 1,150,870
Long-term debt............................. 933,272 304,854 979 - 1,239,105
Other liabilities ............................ 108,779 159,199 29,351 (44,993) 252,336
Stockholders’ equity . . . ..................... 3,019,171 3,310,413 375,068 (3,685,481) 3,019,171
Total liabilities and stockholders’ equity. . . $4,505,548 $4,154,414 $ 731,994 $(3,730,474) $5,661,482
Condensed Consolidating Balance Sheet
December 31, 2005
Parent
Subsidiary
Guarantors
Non-
Guarantor
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
F-35