Quest Diagnostics 2007 Annual Report Download - page 108

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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, 2007
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents .................. $ 111,610 $ 14,847 $ 41,137 $ - $ 167,594
Accounts receivable, net .................... 27,309 234,532 620,126 - 881,967
Other current assets . . . ..................... 46,986 183,505 101,055 (6,750) 324,796
Total current assets . ..................... 185,905 432,884 762,318 (6,750) 1,374,357
Property, plant and equipment, net .......... 215,062 654,341 42,595 - 911,998
Goodwill and intangible assets, net .......... 153,848 5,422,270 530,719 - 6,106,837
Intercompany receivable (payable)........... 859,841 (610,371) (249,470) - -
Investment in subsidiaries................... 5,149,196 - - (5,149,196) -
Other assets . ............................... 167,105 48,433 38,054 (81,091) 172,501
Total assets .............................. $6,730,957 $5,947,557 $1,124,216 $(5,237,037) $8,565,693
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . . . . . $ 451,944 $ 634,079 $ 45,443 $ (6,750) $1,124,716
Short-term borrowings and current portion of
long-term debt ........................... - 62,386 101,195 - 163,581
Total current liabilities ................... 451,944 696,465 146,638 (6,750) 1,288,297
Long-term debt............................. 2,829,927 247,573 299,712 - 3,377,212
Other liabilities ............................ 124,844 457,837 74,352 (81,091) 575,942
Stockholders’ equity . . . ..................... 3,324,242 4,545,682 603,514 (5,149,196) 3,324,242
Total liabilities and stockholders’ equity. . . $6,730,957 $5,947,557 $1,124,216 $(5,237,037) $8,565,693
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
F-38