Laboratory Corporation of America Holdings (LH) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,4841,321 427317434
Cash and cash equivalents1,4731,321 427317434
Short-term investments11     
Receivables2,2482,480 1,4681,6201,426
Inventory, net of allowances, customer advances and progress billings401423 237228205
Inventory401423 237228205
Prepaid expense478365 309421321
Contract with customer, asset717   
Assets held-for-sale, not part of disposal group   555551
Other undisclosed current assets3537 3394242
Total current assets:5,3315,125 2,8352,6832,479
Noncurrent Assets
Property, plant and equipment2,8152,730 1,7851,7491,719
Long-term investments and receivables6174 615858
Long-term investments6174 615858
Intangible assets, net (including goodwill)11,69411,713 11,27111,8719,825
Goodwill7,9597,752 7,3607,5306,424
Intangible assets, net (excluding goodwill)3,7363,961 3,9114,3413,401
Deferred income tax assets2221 
Other noncurrent assets463410 232205165
Other undisclosed noncurrent assets   222
Total noncurrent assets:15,05514,946 13,35013,88511,768
TOTAL ASSETS:20,38520,072 16,18516,56814,247
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,0251,997 1,5051,2961,102
Accounts payable621639 635663508
Accrued liabilities1,4041,358 870633594
Deferred revenue559507 
Debt2377 18418550
Restructuring reserve76    
Deferred revenue and credits333176
Other undisclosed current liabilities191193 356  
Total current liabilities:2,7833,079 1,8792,0461,828
Noncurrent Liabilities
Long-term debt and lease obligation, including:6,1445,503 6,0986,8075,890
Long-term debt, excluding current maturities5,4175,419 6,0426,3455,300
Finance lease, liability8584 
Capital lease obligations  63
Operating lease, liability643  
Other undisclosed long-term debt and lease obligation   56462526
Liabilities, other than long-term debt645838 334378392
Deferred compensation liability, classified10489    
Liability, pension and other postretirement and postemployment benefits137221    
Restructuring reserve22    
Other liabilities402526 334378392
Other undisclosed noncurrent liabilities5201,271 884486617
Total noncurrent liabilities:7,3097,613 7,3167,6716,898
Total liabilities:10,09110,691 9,1959,7178,726
Stockholders' equity
Stockholders' equity attributable to parent10,2739,360 6,9716,8305,506
Common stock99 121212
Treasury stock, value   (1,108)(1,060)(1,013)
Additional paid in capital 110 1,4511,9902,132
Accumulated other comprehensive loss(192)(162) (463)(336)(581)
Retained earnings10,4579,402 7,0806,2244,956
Other undisclosed stockholders' equity2121 192115
Total stockholders' equity:10,2949,380 6,9916,8515,521
TOTAL LIABILITIES AND EQUITY:20,38520,072 16,18516,56814,247

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues16,12113,979 11,33310,4419,642
Revenue, net10,2069,437
Cost of revenue(10,497)(9,026) (8,157)(6,977)(6,461)
Cost of goods and services sold    (6,742)(6,257)
Gross profit:5,6244,953 3,1763,4643,181
Operating expenses(2,322)(2,005) (1,803)(2,029)(1,810)
Other undisclosed operating loss(43)(503) (48)(71)(58)
Operating income:3,2602,445 1,3261,3641,312
Nonoperating income (expense)53(226) 175(6)4
Investment income, nonoperating1010 822
Other nonoperating income (expense)43(32) 168(8)3
Interest and debt expense(212)(203) (244)(235)(219)
Income from continuing operations before equity method investments, income taxes:3,1002,016 1,2571,1241,098
Income from equity method investments273 12118
Income from continuing operations before income taxes:3,1272,019 1,2681,1351,106
Income tax expense (benefit)(747)(662) (384)139(372)
Income before gain (loss) on sale of properties:2,3801,357 8841,274733
Other undisclosed net income 201    
Net income:2,3801,557 8841,274733
Net loss attributable to noncontrolling interest(2)(1) (0)(6)(1)
Net income available to common stockholders, diluted:2,3771,556 8841,268732

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:2,3801,557 8841,274733
Other comprehensive income (loss)(30)211 (129)245(294)
Comprehensive income:2,3501,768 7551,519439
Comprehensive loss, net of tax, attributable to noncontrolling interest(2)(1) (0)(6)(1)
Comprehensive income, net of tax, attributable to parent:2,3471,767 7541,514438

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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