Quest Diagnostics 2008 Annual Report Download - page 112

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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, 2008
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents .................. $ 218,565 $ 6,715 $ 28,666 $ - $ 253,946
Accounts receivable, net .................... 4,426 134,005 694,442 - 832,873
Other current assets . . . ..................... 52,407 262,952 98,631 (3,990) 410,000
Total current assets . ..................... 275,398 403,672 821,739 (3,990) 1,496,819
Property, plant and equipment, net .......... 211,847 631,921 35,919 - 879,687
Goodwill and intangible assets, net .......... 153,213 5,303,312 425,804 - 5,882,329
Intercompany receivable (payable)........... 576,236 (184,426) (391,810) - -
Investment in subsidiaries................... 5,323,173 - - (5,323,173) -
Other assets. ............................... 179,222 33,301 39,951 (107,479) 144,995
Total assets .............................. $6,719,089 $6,187,780 $ 931,603 $(5,434,642) $8,403,830
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . . . . . $ 552,094 $ 628,958 $ 42,557 $ (3,990) $1,219,619
Short-term borrowings and current portion
of long-term debt . . . ..................... - 2,886 2,256 - 5,142
Total current liabilities ................... 552,094 631,844 44,813 (3,990) 1,224,761
Long-term debt............................. 2,498,342 245,472 334,275 - 3,078,089
Other liabilities ............................ 63,757 473,579 66,227 (107,479) 496,084
Stockholders’ equity . . . ..................... 3,604,896 4,836,885 486,288 (5,323,173) 3,604,896
Total liabilities and stockholders’ equity. . . $6,719,089 $6,187,780 $ 931,603 $(5,434,642) $8,403,830
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
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