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
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,321667557324 383
Cash and cash equivalents1,321667557324 361
Short-term investments     22
Receivables2,4802,0951,6611,482 1,617
Inventory, net of allowances, customer advances and progress billings423393342254 235
Inventory423393342254 235
Prepaid expense365327318353 298
Other undisclosed current assets537604535478 455
Total current assets:5,1254,0863,4132,891 2,988
Noncurrent Assets
Property, plant and equipment2,7302,6092,6282,610 2,463
Long-term investments and receivables74717267 86
Long-term investments74717267 86
Intangible assets, net (including goodwill)11,71311,53411,30011,294 11,837
Goodwill7,7527,6147,4237,389 7,815
Intangible assets, net (excluding goodwill)3,9613,9213,8773,905 4,021
Deferred income tax assets21     
Other noncurrent assets410437431431 459
Other undisclosed noncurrent assets 357 16
Total noncurrent assets:14,94614,65414,43614,407 14,860
TOTAL ASSETS:20,07218,74017,84917,298 17,848
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,9971,9371,5671,397 1,438
Accounts payable639640534569 608
Accrued liabilities1,3581,2981,033828 830
Deferred revenue507495473433 404
Debt377377791417 503
Restructuring reserve6898 11
Other undisclosed current liabilities193193194203 199
Total current liabilities:3,0793,0103,0342,458 2,555
Noncurrent Liabilities
Long-term debt and lease obligation5,5036,1066,1206,489 6,725
Long-term debt, excluding current maturities5,4195,4175,4175,790 6,101
Finance lease, liability84868889 93
Operating lease, liability 602616610 531
Liabilities, other than long-term debt838476419375 352
Deferred compensation liability, classified89     
Liability, pension and other postretirement and postemployment benefits221     
Restructuring reserve2245 4
Other liabilities526473416369 348
Other undisclosed noncurrent liabilities1,271889904938 965
Total noncurrent liabilities:7,6137,4717,4437,802 8,042
Total liabilities:10,69110,48110,47710,260 10,597
Stockholders' equity
Stockholders' equity attributable to parent9,3608,2397,3537,020 7,231
Common stock9999 9
Additional paid in capital1108132  48
Accumulated other comprehensive loss(162)(315)(449)(518) (502)
Retained earnings9,4028,4647,7617,529 7,677
Other undisclosed stockholders' equity21202019 20
Total stockholders' equity:9,3808,2597,3727,039 7,251
TOTAL LIABILITIES AND EQUITY:20,07218,74017,84917,298 17,848

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Revenues4,4903,8962,7692,824(8,601)2,929
Cost of revenue(2,585)(2,337)(2,008)(2,096) (2,111)
Gross profit:1,9051,559761728 817
Operating expenses(96)(511)(456)(895) (463)
Other undisclosed operating loss(515)(1)(6)(25) (14)
Operating income (loss):1,2931,047298(193) 340
Nonoperating income (expense)(51)(100)(1)(14) 6
Investment income, nonoperating3333 3
Other nonoperating income (expense)(10)(54)48(16) 3
Interest and debt expense(44)(51)(53)(55) (61)
Income (loss) from continuing operations before equity method investments, income taxes:1,198896244(261) 285
Income (loss) from equity method investments532(7) 2
Income (loss) from continuing operations before income taxes:1,203899246(268) 287
Income tax expense(304)(243)(65)(49) (66)
Income (loss) before gain (loss) on sale of properties:899655181(317) 221
Other undisclosed net income404851   
Net income (loss):939704232(317) 221
Net loss attributable to noncontrolling interest(0)(0) (0) (0)
Net income (loss) available to common stockholders, diluted:938703232(317) 221

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
Net income (loss):939704232(317) 221
Other comprehensive income (loss)15313469(146) (90)
Comprehensive income (loss):1,091838301(462) 131
Comprehensive loss, net of tax, attributable to noncontrolling interest(0)(0) (0) (0)
Comprehensive income (loss), net of tax, attributable to parent:1,091838301(463) 130

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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