Quest Diagnostics 2010 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2010 Quest Diagnostics annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

2010 2009 2008 2007(a) 2006
Year Ended December 31,
(in thousands, except per share data)
Other Data:
Net cash provided by operating activities . . . $1,118,047 $ 997,418 (o) $1,063,049 $ 926,924 $ 951,896
Net cash used in investing activities ........ (216,510) (195,904) (198,883) (1,759,193) (414,402)
Net cash (used in) provided by financing
activities . ............................... (986,492) (521,204) (777,814) 850,223 (479,984)
Provision for doubtful accounts. ............ 291,737 320,974 326,228 300,226 243,443
Rent expense .............................. 195,573 188,813 190,706 170,788 153,185
Capital expenditures . . ..................... 205,400 166,928 212,681 219,101 193,422
Depreciation and amortization . . ............ 253,964 256,687 264,593 237,879 197,398
(a) On January 31, 2007, we completed the acquisition of POCT Holding AB, (“HemoCue”). On May 31, 2007,
we completed the acquisition of AmeriPath Group Holdings, Inc., (“AmeriPath”). Consolidated operating
results for 2007 include the results of operations of HemoCue and AmeriPath subsequent to the closing of
the applicable acquisition.
(b) Operating income includes $27.0 million of costs principally associated with workforce reductions and $9.6
million of costs associated with the settlement of employee litigation.
(c) Operating income includes a $15.5 million gain associated with an insurance settlement for storm-related
losses.
(d) Operating income includes $16.2 million of costs, primarily associated with workforce reductions.
(e) Operating income includes $10.7 million of costs associated with workforce reductions in response to
reduced volume levels.
(f) Operating income includes $27 million of special charges, primarily associated with integration activities.
(g) Includes income tax benefits of $22.1 million, primarily associated with favorable resolutions of certain tax
contingencies.
(h) Includes $20.4 million of pre-tax charges related to the early extinguishment of debt, primarily related to the
June 2009 and November 2009 Debt Tender Offers (see Note 10 to the Consolidated Financial Statements)
and a $7.0 million pre-tax charge related to the write-off of an investment. Also includes $7.0 million of
income tax benefits, primarily associated with certain discrete tax benefits.
(i) Includes an $8.9 million pre-tax charge associated with the write-down of an equity investment.
(j) Includes income tax benefits of $16.5 million, primarily associated with favorable resolutions of certain tax
contingencies.
(k) Includes net pre-tax charges of $10 million related to net investment losses.
(l) Includes pre-tax charges of $75 million related to the government investigation of NID. See Note 16 to the
Consolidated Financial Statements.
(m) Includes pre-tax charges of $241 million related to the government investigation of NID. See Note 16 to the
Consolidated Financial Statements.
(n) Includes $32 million in pre-tax charges related to the wind down of NID’s operations.
(o) Includes payments primarily made in the second quarter of 2009 totaling $314 million in connection with the
NID settlement (see Note 16 to the Consolidated Financial Statements), or $208 million net of an associated
reduction in estimated tax payments.
42