Quest Diagnostics 2007 Annual Report Download - page 72
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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2007 AND 2006
(in thousands, except per share data)
2007 2006
Assets
Current assets:
Cash and cash equivalents .......................................................... $ 167,594 $ 149,640
Accounts receivable, net of allowance for doubtful accounts of $250,067 and $205,086
at December 31, 2007 and 2006, respectively . . . ................................... 881,967 774,414
Inventories . ........................................................................ 95,234 78,564
Deferred income taxes .............................................................. 149,841 120,540
Prepaid expenses and other current assets ............................................ 79,721 67,860
Total current assets ............................................................ 1,374,357 1,191,018
Property, plant and equipment, net ................................................ 911,998 752,357
Goodwill, net ...................................................................... 5,220,104 3,391,046
Intangible assets, net .............................................................. 886,733 193,346
Other assets ....................................................................... 172,501 133,715
Total assets........................................................................ $8,565,693 $5,661,482
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . ............................................ $1,124,716 $ 833,996
Short-term borrowings and current portion of long-term debt.......................... 163,581 316,874
Total current liabilities ......................................................... 1,288,297 1,150,870
Long-term debt.................................................................... 3,377,212 1,239,105
Other liabilities.................................................................... 575,942 252,336
Commitments and contingencies
Stockholders’ equity:
Common stock, par value $0.01 per share; 600,000 shares authorized at both
December 31, 2007 and 2006; 213,745 and 213,755 shares issued at December 31,
2007 and 2006, respectively . ..................................................... 2,137 2,138
Additional paid-in capital ........................................................... 2,210,825 2,185,073
Retained earnings................................................................... 2,057,744 1,800,255
Accumulated other comprehensive income (loss) . . ................................... 25,279 (65)
Treasury stock, at cost; 19,705 and 19,806 shares at December 31, 2007 and 2006,
respectively ...................................................................... (971,743) (968,230)
Total stockholders’ equity . ..................................................... 3,324,242 3,019,171
Total liabilities and stockholders’ equity ........................................... $8,565,693 $5,661,482
The accompanying notes are an integral part of these statements.
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