LABORATORY CORP OF AMERICA HOLDINGS (LH) Financial Statements (2024 and earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5374301,4841,321347427
Cash and cash equivalents5374301,4731,321338427
Short-term investments   11 9 
Receivables1,9062,2122,2482,4801,5441,468
Inventory, net of allowances, customer advances and progress billings475471401423245237
Inventory475471401423245237
Prepaid expense655707478365374309
Contract with customer, asset, after allowance for credit loss185795717   
Asset, held-for-sale, not part of disposal group      55
Other undisclosed current assets8113537472339
Total current assets:3,7654,6255,3315,1252,9812,835
Noncurrent Assets
Property, plant and equipment2,9122,9562,8152,7302,6371,785
Long-term investments and receivables276661748561
Long-term investments276661748561
Intangible assets, net (including goodwill)9,48512,06811,69411,71311,90011,271
Goodwill6,1438,1217,9597,7527,8657,360
Intangible assets, net (excluding goodwill)3,3423,9473,7363,9614,0353,911
Deferred income tax assets  822219
Other noncurrent assets537433463410435232
Other undisclosed noncurrent assets      2
Total noncurrent assets:12,96015,53015,05514,94615,06513,350
TOTAL ASSETS:16,72520,15520,38520,07218,04616,185
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,6322,0042,0251,9971,5751,505
Accounts payable828935621639632635
Accrued liabilities8041,0691,4041,358942870
Deferred revenue422582559507451
Debt1,000301237741518
Restructuring reserve 1087610 
Other undisclosed current liabilities163184191193205356
Total current liabilities:3,2253,0792,7833,0792,6561,879
Noncurrent Liabilities
Long-term debt and lease obligation, including:4,1335,1226,1445,5036,4786,098
Long-term debt, excluding current maturities4,0555,0395,4175,4195,7906,042
Finance lease, liability7984858491
Other undisclosed long-term debt and lease obligation      56
Liabilities, other than long-term debt1,2831,312645838652334
Accounts payable and accrued liabilities 4146    
Deferred compensation liability, classified 107971048977 
Liability, pension and other postretirement and postemployment benefits 6556137221188 
Restructuring reserve 1111224 
Other liabilities409423402526383334
Operating lease, liability649680643 597
Other undisclosed noncurrent liabilities1945275201,271674884
Total noncurrent liabilities:5,6096,9617,3097,6137,8047,316
Total liabilities:8,83510,04010,09110,69110,4599,195
Equity
Equity, attributable to parent7,87510,09710,2739,3607,5676,971
Common stock8899912
Treasury stock, value      (1,108)
Additional paid in capital38  110271,451
Accumulated other comprehensive loss(59)(493)(192)(162)(372)(463)
Retained earnings7,88810,58210,4579,4027,9047,080
Other undisclosed equity161921212019
Total equity:7,89110,11610,2949,3807,5876,991
TOTAL LIABILITIES AND EQUITY:16,72520,15520,38520,07218,04616,185

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues12,16214,87716,12113,97911,55511,333
Cost of revenue(8,797)(10,492)(10,497)(9,026)(8,302)(8,157)
Gross profit:3,3654,3855,6244,9533,2533,176
Operating expenses(2,590)(2,527)(2,322)(2,005)(1,868)(1,803)
Other undisclosed operating loss(49)(84)(43)(503)(55)(48)
Operating income:7261,7743,2602,4451,3301,326
Nonoperating income (expense)44(16)53(226)6175
Investment income, nonoperating299101098
Other nonoperating income (expense)16(25)43(32)(3)168
Interest and debt expense(200)(180)(212)(203)(241)(244)
Income from continuing operations before equity method investments, income taxes:5701,5773,1002,0161,0951,257
Income (loss) from equity method investments(1)52731012
Income from continuing operations before income taxes:5691,5833,1272,0191,1051,268
Income tax expense(189)(302)(747)(662)(280)(384)
Income from continuing operations:3801,2812,3801,357825884
Income before gain (loss) on sale of properties:2,3801,357825884
Income from discontinued operations39     
Other undisclosed net income    201  
Net income:4191,2812,3801,557825884
Net loss attributable to noncontrolling interest(1)(2)(2)(1)(1)(0)
Net income available to common stockholders, basic:4181,2792,3771,556824884
Other undisclosed net income available to common stockholders, diluted      
Net income available to common stockholders, diluted:4181,2792,3771,556824884

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:4191,2812,3801,557825884
Other comprehensive income (loss)196(301)(30)21191(129)
Comprehensive income:6159792,3501,768916755
Comprehensive loss, net of tax, attributable to noncontrolling interest(1)(2)(2)(1)(1)(0)
Comprehensive income, net of tax, attributable to parent:6149782,3471,767915754

Statements Sources

The financial statements are based on the Company's filings with 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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