Quest Diagnostics 2011 Annual Report Download - page 48

SELECTED HISTORICAL FINANCIAL DATA OF OUR COMPANY
The following table summarizes selected historical financial data of our Company and our subsidiaries at the
dates and for each of the periods presented. We derived the selected historical financial data for the years 2007
through 2011 from the audited consolidated financial statements of our Company. During the third quarter of
2006, the Company completed its wind down of NID, a test kit manufacturing subsidiary, and classified the
operations of NID as discontinued operations. The selected historical financial data is only a summary and should
be read together with the audited consolidated financial statements and related notes of our Company and
management’s discussion and analysis of financial condition and results of operations included elsewhere in this
Annual Report on Form 10-K.
2011 (a) 2010 2009 2008 2007 (b)
Year Ended December 31,
(in thousands, except per share data)
Operations Data:
Net revenues . . ........................ $7,510,490 $7,368,925 $7,455,243 $7,249,447 $6,704,907
Operating income ...................... 995,048 (c)(d) 1,295,535 (e)(f) 1,359,111 (g) 1,222,376 (h) 1,091,336 (i)
Income from continuing operations ..... 507,232 (j) 758,804 (k) 767,458 (l) 663,889 (m) 580,338
Loss from discontinued operations, net
of taxes ............................. (1,582) (1,787) (1,236) (50,694)(n) (213,889)(o)
Net income............................ 505,650 757,017 766,222 613,195 366,449
Less: Net income attributable to
noncontrolling interests .............. 35,083 36,123 37,111 31,705 26,510
Net income attributable to Quest
Diagnostics. . ........................ 470,567 720,894 729,111 581,490 339,939
Amounts attributable to Quest
Diagnostics’ stockholders:
Income from continuing operations ..... 472,149 722,681 730,347 632,184 553,828
Loss from discontinued operations, net
of taxes ............................. (1,582) (1,787) (1,236) (50,694) (213,889)
Net income............................ 470,567 720,894 729,111 581,490 339,939
Earnings per share attributable to Quest
Diagnostics’ common stockholders –
basic:
Income from continuing operations ..... $ 2.96 $ 4.09 $ 3.92 $ 3.25 $ 2.87
Loss from discontinued operations ...... (0.01) (0.01) (0.01) (0.26) (1.11)
Net income............................ $ 2.95 $ 4.08 $ 3.91 $ 2.99 $ 1.76
Earnings per share attributable to Quest
Diagnostics’ common stockholders –
diluted:
Income from continuing operations ..... $ 2.93 $ 4.06 $ 3.88 $ 3.22 $ 2.84
Loss from discontinued operations ...... (0.01) (0.01) (0.01) (0.26) (1.10)
Net income............................ $ 2.92 $ 4.05 $ 3.87 $ 2.96 $ 1.74
Dividends per common share ........... $ 0.47 $ 0.40 $ 0.40 $ 0.40 $ 0.40
Balance Sheet Data (at end of year):
Cash and cash equivalents.............. $ 164,886 $ 449,301 $ 534,256 $ 253,946 $ 167,594
Accounts receivable, net ............... 906,455 845,299 827,343 832,873 881,967
Goodwill .............................. 5,795,765 5,101,938 5,083,944 5,054,926 5,220,104
Total assets............................ 9,313,379 8,527,630 8,563,643 8,403,830 8,565,693
Long-term debt ........................ 3,370,522 2,641,160 2,936,792 3,078,089 3,377,212
Total debt ............................. 4,024,917 2,990,156 3,107,299 3,083,231 3,540,793
Total Quest Diagnostics stockholders’
equity............................... 3,692,872 4,033,480 3,989,639 3,604,896 3,324,242
Noncontrolling interests . ............... 22,127 20,645 21,825 20,238 21,464
Total stockholders’ equity .............. 3,714,999 4,054,125 4,011,464 3,625,134 3,345,706
42