XML 18 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue, Net $ 2,597.9 $ 2,372.7 $ 7,504.4 $ 7,049.9
Reimbursement Revenue 57.3 42.0 140.7 163.5
Revenues 2,655.2 2,414.7 7,645.1 7,213.4
Cost of sales 1,715.1 1,584.3 4,956.2 4,657.4
Cost of Reimbursable Expense 57.3 42.0 140.7 163.5
Cost of Revenue 1,772.4 1,626.3 5,096.9 4,820.9
Gross profit 882.8 788.4 2,548.2 2,392.5
Selling, general and administrative expenses 465.3 400.5 1,320.0 1,224.2
Amortization of intangibles and other assets 54.6 41.1 153.6 130.7
Net restructuring and other special charges 21.6 22.8 64.6 48.6
Operating Income (Loss) 341.3 324.0 1,010.0 989.0
Other income (expenses):        
Interest expense (59.9) (58.2) (167.3) (166.2)
Equity method income, net 3.2 2.6 10.0 5.9
Investment income 0.7 0.6 1.4 1.5
Other, net (4.2) (5.6) (8.2) (1.3)
Earnings before income taxes 281.1 263.4 845.9 828.9
Provision for income taxes 97.7 83.6 281.1 280.3
Net earnings 183.4 179.8 564.8 548.6
Less: Net earnings attributable to the noncontrolling interest (2.8) (0.3) (3.4) (0.9)
Net earnings attributable to Laboratory Corporation of America Holdings $ 180.6 $ 179.5 $ 561.4 $ 547.7
Basic earnings per common share (in dollars per share) $ 1.77 $ 1.74 $ 5.48 $ 5.36
Diluted earnings per common share (in dollars per share) $ 1.74 $ 1.71 $ 5.40 $ 5.25