Laboratory Corporation 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)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 430 | 1,484 | 1,321 | 347 | 427 | 317 | |||
| Cash and cash equivalents | 430 | 1,473 | 1,321 | 338 | 427 | 317 | |||
| Short-term investments | 11 | 9 | |||||||
| Receivables | 2,212 | 2,248 | 2,480 | 1,544 | 1,468 | 1,620 | |||
| Inventory, net of allowances, customer advances and progress billings | 471 | 401 | 423 | 245 | 237 | 228 | |||
| Inventory | 471 | 401 | 423 | 245 | 237 | 228 | |||
| Prepaid expense | 707 | 478 | 365 | 374 | 309 | 421 | |||
| Contract with customer, asset, after allowance for credit loss | 795 | 717 | ✕ | ||||||
| Asset, held-for-sale, not part of disposal group | 55 | 55 | |||||||
| Other undisclosed current assets | 11 | 3 | 537 | 472 | 339 | 42 | |||
| Total current assets: | 4,625 | 5,331 | 5,125 | 2,981 | 2,835 | 2,683 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 2,956 | 2,815 | 2,730 | 2,637 | 1,785 | 1,749 | |||
| Long-term investments and receivables | 66 | 61 | 74 | 85 | 61 | 58 | |||
| Long-term investments | 66 | 61 | 74 | 85 | 61 | 58 | |||
| Intangible assets, net (including goodwill) | 12,068 | 11,694 | 11,713 | 11,900 | 11,271 | 11,871 | |||
| Goodwill | 8,121 | 7,959 | 7,752 | 7,865 | 7,360 | 7,530 | |||
| Intangible assets, net (excluding goodwill) | 3,947 | 3,736 | 3,961 | 4,035 | 3,911 | 4,341 | |||
| Deferred income tax assets | 8 | 22 | 21 | 9 | ✕ | ✕ | |||
| Other noncurrent assets | 433 | 463 | 410 | 435 | 232 | 205 | |||
| Other undisclosed noncurrent assets | 2 | 2 | |||||||
| Total noncurrent assets: | 15,530 | 15,055 | 14,946 | 15,065 | 13,350 | 13,885 | |||
| TOTAL ASSETS: | 20,155 | 20,385 | 20,072 | 18,046 | 16,185 | 16,568 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2,004 | 2,025 | 1,997 | 1,575 | 1,505 | 1,296 | |||
| Accounts payable | 935 | 621 | 639 | 632 | 635 | 663 | |||
| Accrued liabilities | 1,069 | 1,404 | 1,358 | 942 | 870 | 633 | |||
| Deferred revenue | 582 | 559 | 507 | 451 | ✕ | ✕ | |||
| Debt | 301 | 2 | 377 | 415 | 18 | 418 | |||
| Restructuring reserve | 8 | 7 | 6 | 10 | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 333 | ||
| Other undisclosed current liabilities | 184 | 191 | 193 | 205 | 356 | ||||
| Total current liabilities: | 3,079 | 2,783 | 3,079 | 2,656 | 1,879 | 2,046 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 5,122 | 6,144 | 5,503 | 6,478 | 6,098 | 6,807 | |||
| Long-term debt, excluding current maturities | 5,039 | 5,417 | 5,419 | 5,790 | 6,042 | 6,345 | |||
| Finance lease, liability | 84 | 85 | 84 | 91 | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | 56 | 462 | |||||||
| Liabilities, other than long-term debt | 1,312 | 645 | 838 | 652 | 334 | 378 | |||
| Accounts payable and accrued liabilities | 46 | ||||||||
| Deferred compensation liability, classified | 97 | 104 | 89 | 77 | |||||
| Liability, pension and other postretirement and postemployment benefits | 56 | 137 | 221 | 188 | |||||
| Restructuring reserve | 11 | 2 | 2 | 4 | |||||
| Other liabilities | 423 | 402 | 526 | 383 | 334 | 378 | |||
| Operating lease, liability | 680 | 643 | 597 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 527 | 520 | 1,271 | 674 | 884 | 486 | |||
| Total noncurrent liabilities: | 6,961 | 7,309 | 7,613 | 7,804 | 7,316 | 7,671 | |||
| Total liabilities: | 10,040 | 10,091 | 10,691 | 10,459 | 9,195 | 9,717 | |||
| Equity | |||||||||
| Equity, attributable to parent | 10,097 | 10,273 | 9,360 | 7,567 | 6,971 | 6,830 | |||
| Common stock | 8 | 9 | 9 | 9 | 12 | 12 | |||
| Treasury stock, value | (1,108) | (1,060) | |||||||
| Additional paid in capital | 110 | 27 | 1,451 | 1,990 | |||||
| Accumulated other comprehensive loss | (493) | (192) | (162) | (372) | (463) | (336) | |||
| Retained earnings | 10,582 | 10,457 | 9,402 | 7,904 | 7,080 | 6,224 | |||
| Other undisclosed equity | 19 | 21 | 21 | 20 | 19 | 21 | |||
| Total equity: | 10,116 | 10,294 | 9,380 | 7,587 | 6,991 | 6,851 | |||
| TOTAL LIABILITIES AND EQUITY: | 20,155 | 20,385 | 20,072 | 18,046 | 16,185 | 16,568 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 14,877 | 16,121 | 13,979 | 11,555 | 11,333 | 10,441 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 10,206 | |
| Cost of revenue | (10,492) | (10,497) | (9,026) | (8,302) | (8,157) | (6,977) | ||
| Cost of goods and services sold | (6,742) | |||||||
| Gross profit: | 4,385 | 5,624 | 4,953 | 3,253 | 3,176 | 3,464 | ||
| Operating expenses | (2,527) | (2,322) | (2,005) | (1,868) | (1,803) | (2,029) | ||
| Other undisclosed operating loss | (84) | (43) | (503) | (55) | (48) | (71) | ||
| Operating income: | 1,774 | 3,260 | 2,445 | 1,330 | 1,326 | 1,364 | ||
| Nonoperating income (expense) | (16) | 53 | (226) | 6 | 175 | (6) | ||
| Investment income, nonoperating | 9 | 10 | 10 | 9 | 8 | 2 | ||
| Other nonoperating income (expense) | (25) | 43 | (32) | (3) | 168 | (8) | ||
| Interest and debt expense | (180) | (212) | (203) | (241) | (244) | (235) | ||
| Income from continuing operations before equity method investments, income taxes: | 1,577 | 3,100 | 2,016 | 1,095 | 1,257 | 1,124 | ||
| Income (loss) from equity method investments | 5 | 27 | 3 | 10 | 12 | 11 | ||
| Income from continuing operations before income taxes: | 1,583 | 3,127 | 2,019 | 1,105 | 1,268 | 1,135 | ||
| Income tax expense (benefit) | (302) | (747) | (662) | (280) | (384) | 139 | ||
| Income from continuing operations: | 1,281 | 2,380 | 1,357 | 825 | 884 | 1,274 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | 2,380 | 1,357 | 825 | 884 | 1,274 | |
| Income from discontinued operations | ||||||||
| Other undisclosed net income | 201 | |||||||
| Net income: | 1,281 | 2,380 | 1,557 | 825 | 884 | 1,274 | ||
| Net loss attributable to noncontrolling interest | (2) | (2) | (1) | (1) | (0) | (6) | ||
| Net income available to common stockholders, diluted: | 1,279 | 2,377 | 1,556 | 824 | 884 | 1,268 | ||
Comprehensive Income ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 1,281 | 2,380 | 1,557 | 825 | 884 | 1,274 | ||
| Other comprehensive income (loss) | (301) | (30) | 211 | 91 | (129) | 245 | ||
| Comprehensive income: | 979 | 2,350 | 1,768 | 916 | 755 | 1,519 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (2) | (2) | (1) | (1) | (0) | (6) | ||
| Comprehensive income, net of tax, attributable to parent: | 978 | 2,347 | 1,767 | 915 | 754 | 1,514 | ||
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.