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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues $ 2,768.8 $ 2,881.7 $ 5,592.6 $ 5,672.9
Cost of Revenue 2,008.3 2,056.9 4,104.1 4,058.4
Gross Profit 760.5 824.8 1,488.5 1,614.5
Selling, general and administrative expenses 396.3 415.3 791.8 809.1
Amortization of intangibles and other assets 60.1 60.2 122.4 117.3
Asset Impairment Charges 0.0 0.0 437.4 0.0
Net restructuring and other special charges 6.4 13.6 31.8 34.2
Operating Income (Loss) 297.7 335.7 105.1 653.9
Other income (expenses):        
Interest expense (52.7) (59.1) (107.7) (115.8)
Equity method income, net 1.8 2.5 (4.8) 5.5
Investment income 2.5 1.4 5.1 2.0
Other, net 47.7 (10.5) 31.6 (20.9)
Earnings before income taxes 297.0 270.0 29.3 524.7
Provision for income taxes 65.4 79.3 114.6 148.1
Net earnings 231.6 190.7 (85.3) 376.6
Less: Net earnings attributable to the noncontrolling interest 0.0 (0.3) (0.3) (0.6)
Net earnings attributable to Laboratory Corporation of America Holdings $ 231.6 $ 190.4 $ (85.6) $ 376.0
Basic earnings per common share (in dollars per share) $ 2.38 $ 1.94 $ (0.88) $ 3.82
Diluted earnings per common share (in dollars per share) $ 2.37 $ 1.93 $ (0.88) $ 3.79