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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net restructuring and other special charges $ 11.6 $ 15.8 $ 16.6 $ 23.3
Operating Income (Loss) 294.8 266.3 616.1 596.1
Interest Expense 47.6 49.8 94.5 100.5
Equity method income, net (0.3) 0.9 (0.2) (1.2)
Investment income 1.3 4.5 4.2 6.7
Other, net 19.5 (16.9) 39.5 (23.8)
Earnings before income taxes 267.7 205.0 565.1 477.3
Provision for income taxes 62.1 49.8 131.2 113.7
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 205.6 155.2 433.9 363.6
Net earnings 205.6 189.1 433.9 402.4
Net Income (Loss) Attributable to Noncontrolling Interest 0.3 0.2 0.6 0.6
Net earnings attributable to Labcorp Holdings Inc. $ 205.3 $ 188.9 $ 433.3 $ 401.8
Income (Loss) from Continuing Operations, Per Basic Share $ 2.44 $ 1.75 $ 5.15 $ 4.10
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share 0 0.38 0 0.43
Basic earnings per common share (in dollars per share) 2.44 2.13 5.15 4.53
Diluted earnings per common share (in dollars per share) $ 2.43 $ 2.12 $ 5.13 $ 4.51
Revenues $ 3,220.9 $ 3,033.7 $ 6,397.5 $ 6,071.5
Cost of Revenue 2,294.5 2,191.5 4,573.8 4,379.2
Gross Profit 926.4 842.2 1,823.7 1,692.3
Selling, general and administrative expenses 557.8 505.8 1,066.2 963.0
Amortization of intangibles and other assets 62.2 51.5 122.3 104.9
Asset Impairment Charges 0.0 2.8 2.5 5.0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $ 0.0 $ 33.9 $ 0.0 $ 38.8
Income (Loss) from Continuing Operations, Per Diluted Share $ 2.43 $ 1.74 $ 5.13 $ 4.08
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share $ 0 $ 0.38 $ 0 $ 0.43
Revenues $ 3,220.9 $ 3,033.7 $ 6,397.5 $ 6,071.5
Cost of Revenue 2,294.5 2,191.5 4,573.8 4,379.2
Gross Profit 926.4 842.2 1,823.7 1,692.3
Selling, general and administrative expenses 557.8 505.8 1,066.2 963.0
Amortization of intangibles and other assets 62.2 51.5 122.3 104.9
Asset Impairment Charges 0.0 2.8 2.5 5.0
Net restructuring and other special charges 11.6 15.8 16.6 23.3
Operating Income (Loss) 294.8 266.3 616.1 596.1
Earnings before income taxes 267.7 205.0 565.1 477.3
Provision for income taxes 62.1 49.8 131.2 113.7
Net earnings 205.6 189.1 433.9 402.4
Less: Net earnings attributable to the noncontrolling interest (0.3) (0.2) (0.6) (0.6)
Net earnings attributable to Labcorp Holdings Inc. $ 205.3 $ 188.9 $ 433.3 $ 401.8
Basic earnings per common share (in dollars per share) $ 2.44 $ 2.13 $ 5.15 $ 4.53
Diluted earnings per common share (in dollars per share) $ 2.43 $ 2.12 $ 5.13 $ 4.51