Quest Diagnostics 2011 Annual Report Download - page 94

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The increase in intangible assets for the year ended December 31, 2011 was primarily due to intangible
assets acquired as part of the Athena and Celera acquisitions (see Note 4 for further details).
Amortization expense related to intangible assets was $67 million, $39 million and $37 million for the years
ended December 31, 2011, 2010 and 2009, respectively.
The estimated amortization expense related to amortizable intangible assets for each of the five succeeding
fiscal years and thereafter as of December 31, 2011 is as follows:
Fiscal Year Ending
December 31,
2012.............................................................. $ 77,454
2013.............................................................. 75,165
2014.............................................................. 73,424
2015.............................................................. 62,963
2016.............................................................. 56,253
Thereafter. . . ...................................................... 383,691
Total. . . ...................................................... $728,950
10. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses at December 31, 2011 and 2010 consisted of the following:
2011 2010
Trade accounts payable ....................................................... $215,340 $212,494
Accrued wages and benefits ................................................... 339,768 298,842
Accrued expenses ............................................................. 348,025 337,069
Accrued settlement reserves ................................................... 3,631 16,867
Total .................................................................... $906,764 $865,272
11. DEBT
Short-term borrowings and current portion of long-term debt at December 31, 2011 and 2010 consisted of
the following:
2011 2010
Secured Receivables Credit Facility ............................................ $ 85,000 $ —
Current portion of long-term debt.............................................. 569,395 348,996
Total short-term borrowings and current portion of long-term debt . ......... $654,395 $348,996
Long-term debt at December 31, 2011 and 2010 consisted of the following:
2011 2010
Senior Notes due July 2011 ................................................ $ — $ 159,234
Term Loan due May 2012 ................................................. 560,000 742,000
Floating Rate Senior Notes due March 2014 . ............................... 200,000 —
Senior Notes due November 2015 . . ........................................ 499,387 499,227
Senior Notes due April 2016............................................... 310,622 —
Senior Notes due July 2017 ................................................ 374,561 374,480
Senior Notes due January 2020 ............................................ 539,688 503,770
Senior Notes due April 2021............................................... 549,152 —
Senior Notes due July 2037 ................................................ 420,997 420,840
Senior Notes due January 2040 ............................................ 438,323 243,422
Other . . ................................................................... 47,187 47,183
Total long-term debt . ................................................. 3,939,917 2,990,156
Less: current portion of long-term debt ..................................... 569,395 348,996
Total long-term debt, net of current portion ............................ $3,370,522 $2,641,160
F-22
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(dollars in thousands unless otherwise indicated)