Quest Diagnostics 2008 Annual Report Download - page 74
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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2008 AND 2007
(in thousands, except per share data)
2008 2007
Assets
Current assets:
Cash and cash equivalents. ......................................................... $ 253,946 $ 167,594
Accounts receivable, net of allowance for doubtful accounts of $261,334 and
$250,067 at December 31, 2008 and 2007, respectively............................ 832,873 881,967
Inventories ........................................................................ 102,125 95,234
Deferred income taxes ............................................................. 218,419 149,841
Prepaid expenses and other current assets ........................................... 89,456 79,721
Total current assets. . . ......................................................... 1,496,819 1,374,357
Property, plant and equipment, net ............................................... 879,687 911,998
Goodwill, net ..................................................................... 5,054,926 5,220,104
Intangible assets, net.............................................................. 827,403 886,733
Other assets ...................................................................... 144,995 172,501
Total assets ....................................................................... $ 8,403,830 $8,565,693
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses............................................. $ 1,219,619 $1,124,716
Short-term borrowings and current portion of long-term debt ......................... 5,142 163,581
Total current liabilities ........................................................ 1,224,761 1,288,297
Long-term debt ................................................................... 3,078,089 3,377,212
Other liabilities ................................................................... 496,084 575,942
Commitments and contingencies
Stockholders’ equity:
Common stock, par value $0.01 per share; 600,000 shares authorized at both
December 31, 2008 and 2007; 214,113 shares and 213,745 shares issued at
December 31, 2008 and 2007, respectively. ....................................... 2,141 2,137
Additional paid-in capital . ......................................................... 2,262,065 2,210,825
Retained earnings .................................................................. 2,561,679 2,057,744
Accumulated other comprehensive (loss) income .................................... (68,068) 25,279
Treasury stock, at cost; 23,739 shares and 19,705 shares at December 31, 2008 and
2007, respectively ............................................................... (1,152,921) (971,743)
Total stockholders’ equity ..................................................... 3,604,896 3,324,242
Total liabilities and stockholders’ equity .......................................... $ 8,403,830 $8,565,693
The accompanying notes are an integral part of these statements.
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