Quest Diagnostics 2013 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 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

43
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 2009 through 2013 from the
audited consolidated financial statements of our Company. During the fourth quarter of 2012, we sold our OralDNA salivary
diagnostics business, and committed to a plan to sell our HemoCue diagnostic products business. In February 2013, we entered
into an agreement to sell HemoCue. The sale of HemoCue was completed in April 2013. During the third quarter of 2006, we
completed the wind down of NID, a test kit manufacturing subsidiary. As a result, the operations for HemoCue, OralDNA and
NID have been classified as discontinued operations. At December 31, 2012, the assets and liabilities of HemoCue have been
reported as held for sale in the accompanying consolidated balance sheets included in this Annual Report on Form 10-K. The
selected historical financial data presented below has been recast to report the results of HemoCue and OralDNA as
discontinued operations for all periods presented. 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.
Year Ended December 31,
2013 2012 2011 2010 2009
(dollars in millions, except per share data)
Operations Data: (a) (b) (c)
Net revenues $ 7,146 $ 7,383 $ 7,392 $ 7,260 $ 7,360
Operating income 1,475 (d) 1,201 (e) 987 (f) 1,284 (g) 1,344 (h)
Income from continuing
operations 848 666 494 (i) 745 (j) 748 (k)
Income (loss) from discontinued
operations, net of taxes 35 (l) (74) (m) 12 12 18
Net income 883 592 506 757 766
Less: Net income attributable to
noncontrolling interests 34 36 35 36 37
Net income attributable to Quest
Diagnostics $ 849 $ 556 $ 471 $ 721 $ 729
Amounts attributable to Quest
Diagnostics' stockholders:
Income from continuing
operations $ 814 $ 630 $ 459 $ 709 $ 711
Income (loss) from discontinued
operations, net of taxes 35 (74) 12 12 18
Net income $ 849 $ 556 $ 471 $ 721 $ 729