Quest Diagnostics 2011 Annual Report Download - page 111

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Condensed Consolidating Balance Sheet
December 31, 2011
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Assets
Current assets:
Cash and cash equivalents .................. $ 71,762 $ 44,053 $ 49,071 $ — $ 164,886
Accounts receivable, net .................... 10,846 178,813 716,796 — 906,455
Other current assets . . . ..................... 51,292 188,978 91,686 (2,037) 329,919
Total current assets . ..................... 133,900 411,844 857,553 (2,037) 1,401,260
Property, plant and equipment, net .......... 164,785 591,962 43,024 — 799,771
Goodwill and intangible assets, net .......... 155,596 6,228,611 447,170 — 6,831,377
Intercompany receivable (payable)........... (566,071) 819,486 (253,415) — —
Investment in subsidiaries................... 7,963,131 — — (7,963,131) —
Other assets. ............................... 318,944 39,965 48,580 (126,518) 280,971
Total assets .............................. $8,170,285 $8,091,868 $1,142,912 $(8,091,686) $9,313,379
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses . . . . . $ 694,846 $ 172,207 $ 41,748 $ (2,037) $ 906,764
Short-term borrowings and current portion of
long-term debt ........................... 561,438 7,327 85,630 — 654,395
Total current liabilities ................... 1,256,284 179,534 127,378 (2,037) 1,561,159
Long-term debt............................. 3,026,235 18,606 325,681 — 3,370,522
Other liabilities ............................ 194,894 544,504 53,819 (126,518) 666,699
Stockholders’ equity:
Quest Diagnostics stockholders’ equity . . . . . . 3,692,872 7,349,224 613,907 (7,963,131) 3,692,872
Noncontrolling interests..................... — — 22,127 — 22,127
Total stockholders’ equity ................ 3,692,872 7,349,224 636,034 (7,963,131) 3,714,999
Total liabilities and stockholders’ equity. . . $8,170,285 $8,091,868 $1,142,912 $(8,091,686) $9,313,379
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
F-39
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(dollars in thousands unless otherwise indicated)