Laboratory Corporation of America Holdings (LH) financial statements (2021 and earlier)

Company profile

Business Address 358 S MAIN ST
BURLINGTON, NC 27215
State of Incorp. DE
Fiscal Year End December 31
SIC 8071 - Medical Laboratories (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,321 427317434716
Cash and cash equivalents1,321 427317434716
Receivables2,480 1,4681,6201,4261,310
Inventory, net of allowances, customer advances and progress billings423 237228205191
Inventory423 237228205191
Prepaid expense365 309421321340
Assets held-for-sale, not part of disposal group  55555172
Other undisclosed current assets537 339424233
Total current assets:5,125 2,8352,6832,4792,663
Noncurrent Assets
Property, plant and equipment2,730 1,7851,7491,7191,747
Long-term investments and receivables74 61585858
Long-term investments74 61585858
Intangible assets, net (including goodwill)11,713 11,27111,8719,8259,551
Goodwill7,752 7,3607,5306,4246,228
Intangible assets, net (excluding goodwill)3,961 3,9114,3413,4013,324
Deferred income tax assets21 
Other noncurrent assets410 232205165202
Other undisclosed noncurrent assets  222 
Total noncurrent assets:14,946 13,35013,88511,76811,559
TOTAL ASSETS:20,072 16,18516,56814,24714,222
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,997 1,5051,2961,1021,131
Accounts payable639 635663508497
Accrued liabilities1,358 870633594633
Deferred revenue507 
Debt377 18418550425
Restructuring reserve6     
Deferred revenue and credits333176146
Other undisclosed current liabilities193 356   
Total current liabilities:3,079 1,8792,0461,8281,702
Noncurrent Liabilities
Long-term debt and lease obligation, including:5,503 6,0986,8075,8906,461
Long-term debt, excluding current maturities5,419 6,0426,3455,3005,992
Finance lease, liability84 
Capital lease obligations  6356
Other undisclosed long-term debt and lease obligation  56462526413
Liabilities, other than long-term debt838 334378392323
Deferred compensation liability, classified89     
Liability, pension and other postretirement and postemployment benefits221     
Restructuring reserve2     
Other liabilities526 334378392323
Other undisclosed noncurrent liabilities1,271 884486617777
Total noncurrent liabilities:7,613 7,3167,6716,8987,561
Total liabilities:10,691 9,1959,7178,7269,262
Stockholders' equity
Stockholders' equity attributable to parent9,360 6,9716,8305,5064,944
Common stock9 12121212
Treasury stock, value  (1,108)(1,060)(1,013)(978)
Additional paid in capital110 1,4511,9902,1321,975
Accumulated other comprehensive loss(162) (463)(336)(581)(287)
Retained earnings9,402 7,0806,2244,9564,223
Other undisclosed stockholders' equity21 19211515
Total stockholders' equity:9,380 6,9916,8515,5214,959
TOTAL LIABILITIES AND EQUITY:20,072 16,18516,56814,24714,222

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues13,979 11,33310,4419,6428,680
Revenue, net10,2069,4378,506
Cost of revenue(9,026) (8,157)(6,977)(6,461)(5,777)
Cost of goods and services sold   (6,742)(6,257)(5,602)
Gross profit:4,953 3,1763,4643,1812,903
Operating expenses(2,005) (1,803)(2,029)(1,810)(1,787)
Other undisclosed operating loss(503) (48)(71)(58)(114)
Operating income:2,445 1,3261,3641,3121,003
Nonoperating income (expense)(226) 175(6)4(6)
Investment income, nonoperating10 8222
Other nonoperating income (expense)(32) 168(8)3(8)
Interest and debt expense(203) (244)(235)(219)(275)
Income from continuing operations before equity method investments, income taxes:2,016 1,2571,1241,098722
Income from equity method investments3 1211810
Income from continuing operations before income taxes:2,019 1,2681,1351,106732
Income tax expense (benefit)(662) (384)139(372)(294)
Income before gain (loss) on sale of properties:1,357 8841,274733438
Other undisclosed net income201     
Net income:1,557 8841,274733438
Net loss attributable to noncontrolling interest(1) (0)(6)(1)(1)
Net income available to common stockholders, diluted:1,556 8841,268732437

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:1,557 8841,274733438
Other comprehensive income (loss)211 (129)245(294)(277)
Comprehensive income:1,768 7551,519439162
Comprehensive loss, net of tax, attributable to noncontrolling interest(1) (0)(6)(1)(1)
Comprehensive income, net of tax, attributable to parent:1,767 7541,514438160

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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