LABCORP HOLDINGS INC

For the period ended Dec 31, 2024. Filed Feb 25, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 25, 2025

LH$370.88-0.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Index

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions)

	Year Ended December 31,
	2024	2023	2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$747.1	$419.2	$1,280.6
Earnings from discontinued operations	—	(38.8)	(277.1)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	643.5	577.3	537.2
Stock compensation	116.7	128.7	116.8
Operating lease right-of-use asset expense	185.3	168.0	172.5
Goodwill and other asset impairments	5.3	349.0	261.7
Deferred income taxes	(20.1)	(78.1)	26.3
Other, net	62.1	38.9	23.0
Change in assets and liabilities (net of effects of acquisitions and divestitures):
(Increase) decrease in accounts receivable	(52.3)	(103.8)	46.5
Decrease (increase) in unbilled services	30.4	28.5	(23.4)
Increase in supplies inventory	(12.6)	(0.7)	(45.5)
Increase in prepaid expenses and other	(54.5)	(25.8)	(244.1)
Increase (decrease) in accounts payable	72.1	(42.4)	285.4
(Decrease) increase in unearned revenue	(24.6)	105.5	67.8
Decrease in accrued expenses and other	(112.6)	(323.2)	(462.9)
Net cash provided by continuing operating activities	1,585.8	1,202.3	1,764.8
Net cash provided by discontinued operating activities	—	125.4	191.1
Net cash provided by operating activities	1,585.8	1,327.7	1,955.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(489.9)	(453.6)	(429.3)
Purchase of investments	(55.0)	(29.0)	(17.4)
Proceeds from sale of assets	2.0	0.6	1.4
Proceeds from sale or distribution of investments	—	6.7	5.2
Proceeds from exit from swaps	—	—	2.9
Proceeds from sale of business	15.1	—	1.6
Acquisition of businesses, net of cash acquired	(839.0)	(671.5)	(1,164.0)
Net cash used for continuing investing activities	(1,366.8)	(1,146.8)	(1,599.6)
Net cash used for discontinued investing activities	—	(24.7)	(52.6)
Net cash used for investing activities	(1,366.8)	(1,171.5)	(1,652.2)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from senior note offerings	2,000.0	—	—
Payments on senior notes	(1,000.0)	(300.0)	—
Proceeds from accounts receivable securitization	300.0	—	—
Proceeds from revolving credit facilities	2,463.7	2,488.2	787.4
Payments on revolving credit facilities	(2,463.7)	(2,488.2)	(787.4)
Net share settlement tax payments from issuance of stock to employees	(46.4)	(39.8)	(50.6)
Net proceeds from issuance of stock to employees	56.2	54.4	50.6
Dividends paid	(243.1)	(254.0)	(195.2)
Purchase of common stock	(250.1)	(1,000.0)	(1,100.0)
Other	(36.7)	(19.6)	(27.0)
Net cash provided by (used for) continuing financing activities	779.9	(1,559.0)	(1,322.2)
Net cash provided by discontinued financing activities	—	1,499.7	—
Net cash provided by (used for) financing activities	779.9	(59.3)	(1,322.2)
Effect of exchange rate changes on cash and cash equivalents	(17.0)	9.9	(24.2)
Net increase (decrease) in cash and cash equivalents	981.9	106.8	(1,042.7)
Cash and cash equivalents at beginning of period	536.8	430.0	1,472.7
Less cash and cash equivalents of discontinued operations at the end of the period	—	—	109.4
Cash and cash equivalents at end of period	$1,518.7	$536.8	$320.6

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