Quest Diagnostics 2010 Annual Report Download - page 71

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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2010, 2009 AND 2008
(in thousands)
Shares of
Common
Stock
Outstanding
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Compre-
hensive
(Loss)
Treasury
Stock
Compre-
hensive
Income
Non-
controlling
Interests
Total
Stockholders’
Equity
Quest Diagnostics Stockholders’ Equity
Balance, December 31, 2007 . . . . . . . . . . . . . . . . 194,040 $2,137 $2,210,825 $2,057,744 $ 25,279 $ (971,743) $ 21,464 $3,345,706
Net income . . . . . . . . . . . . ..................... 581,490 $581,490 31,705 613,195
Currency translation . . . . ..................... (94,326) (94,326) (94,326)
Market valuation, net of tax benefit of $261 . . (398) (398) (398)
Reversal of market adjustment, net of tax
expense of $1,257. . . . ..................... 2,161 2,161 2,161
Net deferred losses on cash flow hedges. . . . . . (784) (784) (784)
Comprehensive income . ..................... $488,143
Dividends declared . . . . . ..................... (77,555) (77,555)
Distributions to noncontrolling interests . . . . . . . (32,931) (32,931)
Issuance of common stock under benefit
plans . . . . . . . . . . . . . . . . ..................... 913 4 81 18,248 18,333
Stock-based compensation expense . . . . . . . . . . . 63,055 7,526 70,581
Exercise of stock options . . . . . . . . . . . . . . . . . . . . 987 (18,148) 48,659 30,511
Shares to cover employee payroll tax
withholdings on stock issued under benefit
plans . . . . . . . . . . . . . . . . ..................... (56) (962) (1,614) (2,576)
Tax benefits associated with stock-based
compensation plans . . ..................... 6,881 6,881
Purchases of treasury stock . . . . . . . . . . . . . . . . . . (5,510) (253,997) (253,997)
Other....................................... 333 333
Balance, December 31, 2008 . . . . . . . . . . . . . . . . 190,374 2,141 2,262,065 2,561,679 (68,068) (1,152,921) 20,238 3,625,134
Net income . . . . . . . . . . . . ..................... 729,111 $729,111 37,111 766,222
Currency translation . . . . ..................... 49,586 49,586 49,586
Reversal of market valuation, net of tax
expense of $190 . . . . . ..................... 290 290 290
Net deferred losses on cash flow hedges. . . . . . (2,553) (2,553) (2,553)
Other....................................... (216) (216) (216)
Comprehensive income . ..................... $776,218
Dividends declared . . . . . ..................... (74,151) (74,151)
Distributions to noncontrolling interests . . . . . . . (35,524) (35,524)
Issuance of common stock under benefit
plans . . . . . . . . . . . . . . . . ..................... 711 1,868 17,913 19,781
Stock-based compensation expense . . . . . . . . . . . 61,005 14,054 75,059
Exercise of stock options . . . . . . . . . . . . . . . . . . . . 2,376 (27,272) 114,392 87,120
Shares to cover employee payroll tax
withholdings on stock issued under benefit
plans . . . . . . . . . . . . . . . . ..................... (135) (2,144) (3,995) (6,139)
Tax benefits associated with stock-based
compensation plans . . ..................... 6,846 6,846
Purchases of treasury stock . . . . . . . . . . . . . . . . . . (10,033) (499,991) (499,991)
Balance, December 31, 2009 . . . . . . . . . . . . . . . . 183,293 2,141 2,302,368 3,216,639 (20,961) (1,510,548) 21,825 4,011,464
Net income . . . . . . . . . . . . ..................... 720,894 $720,894 36,123 757,017
Currency translation . . . . ..................... 27,271 27,271 27,271
Market valuation, net of tax expense of
$1,975. . . . . . . . . . . . . . . ..................... 3,090 3,090 3,090
Amortization of net deferred losses on cash
flow hedges . . . . . . . . . ..................... 724 724 724
Other....................................... 502 502 (564) (62)
Comprehensive income . ..................... $752,481
Dividends declared . . . . . ..................... (70,113) (70,113)
Distributions to noncontrolling interests . . . . . . . (36,739) (36,739)
Issuance of common stock under benefit
plans . . . . . . . . . . . . . . . . ..................... 1,125 2 1,050 19,480 20,532
Stock-based compensation expense . . . . . . . . . . . 24,454 29,473 53,927
Exercise of stock options . . . . . . . . . . . . . . . . . . . . 1,269 (14,545) 63,080 48,535
Shares to cover employee payroll tax
withholdings on stock issued under benefit
plans . . . . . . . . . . . . . . . . ..................... (277) (1) (5,786) (9,614) (15,401)
Tax benefits associated with stock-based
compensation plans . . ..................... 3,880 3,880
Purchases of treasury stock . . . . . . . . . . . . . . . . . . (14,693) (750,000) (750,000)
Balance, December 31, 2010 . . . . . . . . . . . . . . . . 170,717 $2,142 $2,311,421 $3,867,420 $ 10,626 $(2,158,129) $ 20,645 $4,054,125
The accompanying notes are an integral part of these statements.
F-5