Quest Diagnostics 2009 Annual Report Download - page 72

QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2009 AND 2008
(in thousands, except per share data)
2009 2008
Assets
Current assets:
Cash and cash equivalents ......................................................... $ 534,256 $ 253,946
Accounts receivable, net of allowance for doubtful accounts of $238,206 and
$261,334 at December 31, 2009 and 2008, respectively . . ......................... 827,343 832,873
Inventories. . ...................................................................... 91,386 102,125
Deferred income taxes ............................................................ 131,800 218,419
Prepaid expenses and other current assets .......................................... 94,640 89,456
Total current assets ........................................................... 1,679,425 1,496,819
Property, plant and equipment, net .............................................. 825,946 879,687
Goodwill, net .................................................................... 5,083,944 5,054,926
Intangible assets, net ............................................................. 823,665 827,403
Other assets...................................................................... 150,663 144,995
Total assets ...................................................................... $ 8,563,643 $ 8,403,830
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . ........................................... $ 888,705 $ 1,219,619
Current portion of long-term debt .................................................. 170,507 5,142
Total current liabilities........................................................ 1,059,212 1,224,761
Long-term debt .................................................................. 2,936,792 3,078,089
Other liabilities .................................................................. 556,175 475,846
Commitments and contingencies
Stockholders’ equity:
Quest Diagnostics stockholders’ equity:
Common stock, par value $0.01 per share; 600,000 shares authorized at both
December 31, 2009 and 2008; 214,110 shares and 214,113 shares issued at
December 31, 2009 and 2008, respectively ....................................... 2,141 2,141
Additional paid-in capital.......................................................... 2,302,368 2,262,065
Retained earnings ................................................................. 3,216,639 2,561,679
Accumulated other comprehensive loss . . ........................................... (20,961) (68,068)
Treasury stock, at cost; 30,817 shares and 23,739 shares at December 31, 2009 and
2008, respectively . ............................................................. (1,510,548) (1,152,921)
Total Quest Diagnostics stockholders’ equity . . . .................................. 3,989,639 3,604,896
Noncontrolling interests ........................................................... 21,825 20,238
Total stockholders’ equity. .................................................... 4,011,464 3,625,134
Total liabilities and stockholders’ equity ......................................... $ 8,563,643 $ 8,403,830
The accompanying notes are an integral part of these statements.
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