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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net restructuring and other special charges $ 44.4 $ 9.6 $ 57.0 $ 28.8
Operating Income (Loss) 525.9 704.1 1,213.8 1,762.0
Interest Expense 42.5 78.3 84.7 126.8
Equity method income, net 1.4 8.0 4.8 12.5
Investment income 2.0 2.7 3.1 5.1
Other, net (10.4) 14.1 (20.5) 19.6
Earnings before income taxes 476.4 650.6 1,116.5 1,672.4
Provision for income taxes 117.5 182.6 265.5 434.3
Net earnings 358.9 468.0 851.0 1,238.1
Net Income (Loss) Attributable to Noncontrolling Interest 0.3 0.6 0.8 1.1
Net Income (Loss) Attributable to Parent 358.6 467.4 850.2 1,237.0
Revenues 3,696.9 3,840.7 7,596.5 8,002.2
Cost of Revenue 2,574.2 2,575.9 5,240.9 5,138.4
Gross Profit 1,122.7 1,264.8 2,355.6 2,863.8
Selling, general and administrative expenses 486.0 458.7 950.1 888.5
Amortization of intangibles and other assets 66.4 92.4 133.5 184.5
Asset Impairment Charges 0.0 0.0 1.2 0.0
Revenues 3,696.9 3,840.7 7,596.5 8,002.2
Cost of Revenue 2,574.2 2,575.9 5,240.9 5,138.4
Gross Profit 1,122.7 1,264.8 2,355.6 2,863.8
Selling, general and administrative expenses 486.0 458.7 950.1 888.5
Amortization of intangibles and other assets 66.4 92.4 133.5 184.5
Asset Impairment Charges 0.0 0.0 1.2 0.0
Net restructuring and other special charges 44.4 9.6 57.0 28.8
Operating Income (Loss) 525.9 704.1 1,213.8 1,762.0
Other income (expenses):        
Interest expense (42.5) (78.3) (84.7) (126.8)
Equity method income, net 1.4 8.0 4.8 12.5
Investment income 2.0 2.7 3.1 5.1
Other, net (10.4) 14.1 (20.5) 19.6
Earnings before income taxes 476.4 650.6 1,116.5 1,672.4
Provision for income taxes 117.5 182.6 265.5 434.3
Net earnings 358.9 468.0 851.0 1,238.1
Less: Net earnings attributable to the noncontrolling interest (0.3) (0.6) (0.8) (1.1)
Net earnings attributable to Laboratory Corporation of America Holdings $ 358.6 $ 467.4 $ 850.2 $ 1,237.0
Basic earnings per common share (in dollars per share) $ 3.89 $ 4.80 $ 9.17 $ 12.69
Diluted earnings per common share (in dollars per share) $ 3.87 $ 4.76 $ 9.11 $ 12.58