Quest Diagnostics 2010 Annual Report Download - page 103

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Condensed Consolidating Balance Sheet
December 31, 2010
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents .................. $ 392,525 $ 928 $ 55,848 $ — $ 449,301
Accounts receivable, net .................... 15,913 135,417 693,969 — 845,299
Other current assets . . . ..................... 55,723 165,099 96,183 (6,188) 310,817
Total current assets . ..................... 464,161 301,444 846,000 (6,188) 1,605,417
Property, plant and equipment, net .......... 179,624 616,114 38,638 — 834,376
Goodwill and intangible assets, net .......... 155,596 5,279,371 463,376 — 5,898,343
Intercompany receivable (payable)........... 84,107 231,268 (315,375) — —
Investment in subsidiaries................... 6,195,557 — — (6,195,557) —
Other assets. ............................... 227,822 10,090 48,319 (96,737) 189,494
Total assets .............................. $7,306,867 $6,438,287 $1,080,958 $(6,298,482) $8,527,630
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . . . . . $ 623,610 $ 190,334 $ 57,516 $ (6,188) $ 865,272
Current portion of long-term debt ........... 203,659 144,004 1,333 — 348,996
Total current liabilities ................... 827,269 334,338 58,849 (6,188) 1,214,268
Long-term debt............................. 2,295,709 19,342 326,109 — 2,641,160
Other liabilities ............................ 150,409 512,681 51,724 (96,737) 618,077
Stockholders’ equity:
Quest Diagnostics stockholders’ equity . . . . . . 4,033,480 5,571,926 623,631 (6,195,557) 4,033,480
Noncontrolling interests..................... — — 20,645 — 20,645
Total stockholders’ equity ................ 4,033,480 5,571,926 644,276 (6,195,557) 4,054,125
Total liabilities and stockholders’ equity. . . $7,306,867 $6,438,287 $1,080,958 $(6,298,482) $8,527,630
Condensed Consolidating Balance Sheet
December 31, 2009
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents ...................... $ 464,958 $ 17,457 $ 51,841 $ — $ 534,256
Accounts receivable, net. ....................... 3,461 156,102 667,780 — 827,343
Other current assets ............................ 64,354 169,233 99,109 (14,870) 317,826
Total current assets . . . ....................... 532,773 342,792 818,730 (14,870) 1,679,425
Property, plant and equipment, net .............. 181,790 607,951 36,205 — 825,946
Goodwill and intangible assets, net ............. 153,145 5,308,433 446,031 — 5,907,609
Intercompany receivable (payable) .............. 471,421 (137,227) (334,194) — —
Investment in subsidiaries ...................... 5,790,333 — — (5,790,333) —
Other assets . . . ................................ 194,990 11,428 49,970 (105,725) 150,663
Total assets . ................................ $7,324,452 $6,133,377 $1,016,742 $(5,910,928) $8,563,643
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses ......... $ 641,964 $ 239,417 $ 22,194 $ (14,870) $ 888,705
Current portion of long-term debt . .............. 165,661 2,436 2,410 — 170,507
Total current liabilities ....................... 807,625 241,853 24,604 (14,870) 1,059,212
Long-term debt ................................ 2,430,806 146,556 359,430 — 2,936,792
Other liabilities ................................ 96,382 513,987 51,531 (105,725) 556,175
Stockholders’ equity:
Quest Diagnostics stockholders’ equity .......... 3,989,639 5,230,981 559,352 (5,790,333) 3,989,639
Noncontrolling interests . ....................... — — 21,825 — 21,825
Total stockholders’ equity .................... 3,989,639 5,230,981 581,177 (5,790,333) 4,011,464
Total liabilities and stockholders’ equity . ..... $7,324,452 $6,133,377 $1,016,742 $(5,910,928) $8,563,643
F-37
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(dollars in thousands unless otherwise indicated)