Quest Diagnostics 2013 Annual Report Download - page 107

Download and view the complete annual report

Please find page 107 of the 2013 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 131

  • 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
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131

F- 35
The changes in accumulated other comprehensive (loss) income by component for 2013, 2012 and 2011 were as
follows:
Foreign
Currency
Translation
Adjustment
Market
Value
Adjustment
Deferred
Loss Other
Accumulated
Other
Comprehensive
(Loss) Income
Balance, December 31, 2010 $ 14$ 4$ (7)$ — $ 11
Other comprehensive (loss) income before
reclassifications (13) (3)(2)(1)(19)
Amounts reclassified from accumulated
other comprehensive (loss) income — — 1 (1)—
Net current period other comprehensive
(loss) income (13) (3)(1)(2)(19)
Balance, December 31, 2011 11
(8)(2)(8)
Other comprehensive (loss) income before
reclassifications 24 — — (3)21
Amounts reclassified from accumulated
other comprehensive (loss) income — — 1 — 1
Net current period other comprehensive
(loss) income 24 — 1 (3)22
Balance, December 31, 2012 25 1 (7)(5)14
Other comprehensive (loss) income before
reclassifications 2 (1)1 1 3
Amounts reclassified from accumulated
other comprehensive (loss) income (29) — 1 3 (25)
Net current period other comprehensive
(loss) income (27) (1)2 4 (22)
Balance, December 31, 2013 $(2)$—$(5)$ (1)$ (8)
For the year ended December 31, 2013, principally all of the gross foreign currency adjustment was reclassified from
accumulated other comprehensive (loss) income to income (loss) from discontinued operations, net of taxes due to the
completed sale of HemoCue.
Dividends
During each of the quarters of 2013, the Company's Board of Directors declared a quarterly cash dividend of $0.30 per
common share.
During each of the first three quarters in 2012, the Company's Board of Directors declared a quarterly cash dividend of
$0.17 per common share, and in November 2012, declared an increase in the quarterly cash dividend from $0.17 per common
share to $0.30 per common share.
During each of the first three quarters of 2011, the Company's Board of Directors declared a quarterly cash dividend of
$0.10 per common share, and in October 2011, declared an increase in the quarterly cash dividend from $0.10 per common
share to $0.17 per common share.
Share Repurchase Plan
In August 2013, the Company’s Board of Directors authorized the Company to repurchase an additional $1 billion of
the Company’s common stock, increasing the total available authorization at that time to $1.3 billion. The share repurchase
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(in millions unless otherwise indicated)