CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
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| Consolidated Statements of Operations [Abstract] | ||||||
| Revenues | $ 14,876.8 | $ 16,120.9 | $ 13,978.5 | |||
| Cost of Revenue | 10,491.7 | 10,496.6 | 9,025.7 | |||
| Gross profit | 4,385.1 | 5,624.3 | 4,952.8 | | ||
| Selling, general and administrative expenses | 1,996.6 | 1,952.1 | 1,729.3 | | ||
| Amortization of intangibles and other assets | 259.3 | 369.6 | 275.4 | | ||
| Goodwill and Intangible Asset Impairment | 271.5 | 0.0 | 462.1 | | ||
| Restructuring and other special charges | 83.8 | 43.1 | 40.6 | | | |
| Total Operating Expenses | 2611.2 | 2364.8 | 2507.4 | 0 | 0 | |
| Operating income | 1,773.9 | 3,259.5 | 2,445.4 | | ||
| Interest expense | (180.3) | (212.1) | (207.4) | | ||
| Equity method income, net | 5.4 | 26.5 | 2.9 | | ||
| Investment income | 8.9 | 10.2 | 10.3 | | ||
| Total Other Income Expenses | -191.3 | -132.9 | -226.3 | 0 | 0 | |
| Other, net | (25.3) | 42.5 | (32.1) | | | |
| Earnings before income taxes | 1,582.6 | 3,126.6 | 2,219.1 | | ||
| Provision for income taxes | 302.0 | 747.1 | 662.1 | | ||
| Net earnings | 1,280.6 | 2,379.5 | 1,557.0 | | ||
| Less: Net earnings attributable to the noncontrolling interest | (1.5) | (2.2) | (0.9) | |||
| Net earnings attributable to Laboratory Corporation of America Holdings | $ 1,279.1 | $ 2,377.3 | $ 1,556.1 | |||
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- Definition Consolidated Statements of Operations [Abstract] No definition available.
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- Definition Sum of operating profit and nonoperating income (expense) before income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. No definition available.
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- Definition Amount charged against earnings in the period for incurred and estimated costs, excluding asset retirement obligations, associated with exit from or disposal of business activities or restructurings pursuant to a program planned and controlled by management, and materially changes either the scope or manner of conduct of a business undertaken. Also, may include reversals and other adjustments to accrued liabilities and special charges, if any, for asset abandonment, uncollectible balances, etc. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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