LABCORP HOLDINGS INC.
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 5, 2026
LH$366.57+0.9%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-04.
0000920148-26-000139
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-05.
0000920148-26-000175
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 115 previous paragraphs and 141 current paragraphs.
84 unchanged; 29 reworded; 21 added; 2 removed; 0 previous and 7 current paragraphs rearranged.
Tables are not compared: 11 previous and 21 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (21)
Current report
For the six months ended June 30, 2026, the Company’s revenues were $7,268.7, an increase of 5.8% from $6,872.4 for the corresponding period in 2025. The 5.8% increase for the six months ended June 30, 2026, as compared to the corresponding period in 2025, was due to organic revenue of 3.6%, acquisitions, net of divestitures, of 1.3%, and favorable foreign currency translation of 0.9%.
Current report
Dx revenues for the three months ended June 30, 2026, were $2,900.7, an increase of 5.5% over $2,748.8 in the second quarter of 2025. The increase was primarily due to organic revenue of 3.6% and acquisitions, net of divestitures, of 1.9%.
Current report
For the three months ended June 30, 2026, interest expense increased 6.9%, as compared with the corresponding period in 2025. The increase was primarily due to a higher average amount of total debt outstanding during the three months ended June 30, 2026, when compared to the three months ended June 30, 2025.
Current report
The change in Other, net was primarily due to a decrease in investment losses recorded during the three months ended June 30, 2026, as compared to the corresponding period of 2025.
Current report
Revenues
Current report
BLS revenues for the six months ended June 30, 2026, were $1,616.8, an increase of 7.3% over $1,506.1 during the six months ended June 30, 2025. The increase was due to organic growth of 5.0% and favorable foreign currency translation of 3.6%, partially offset by an unfavorable impact related to strategic actions undertaken in ED of 1.2%.
Current report
Cost of Revenues
Current report
Selling, General, and Administrative Expenses
Current report
SG&A as a percentage of revenues were 15.5% and 16.4% during the six months ended June 30, 2026, and 2025, respectively. The decrease was primarily due to revenue growth.
Current report
Restructuring and Other Charges
Current report
During the six months ended June 30, 2026, the Company recorded net restructuring and other charges of $11.5. The charges were comprised of $19.8 related to severance and other personnel costs, $3.3 in facility-related costs, and $0.1 in contract termination costs. The charges were adjusted by the reversal of a previously established liability of $8.4 in unused facility-related costs, $3.1 in unused contract termination costs, and $0.2 in unused severance and other personnel costs.
Current report
During the six months ended June 30, 2025, the Company recorded net restructuring and other charges of $10.5. The charges were comprised of $17.0 related to severance and other personnel costs, $15.1 in contract termination costs, and $7.3 in facility-related costs. The charges were adjusted by the reversal of a previously established liability of $27.5 in unused facility-related costs and $1.4 in unused severance and other personnel costs.
Current report
Interest Expense
Current report
For the six months ended June 30, 2026, interest expense increased 2.7%, as compared with the corresponding period in 2025. The increase was primarily due to a higher average amount of total debt outstanding during the six months ended June 30, 2026, when compared to the six months ended June 30, 2025.
Current report
Equity Method Loss, Net
Current report
Other, net
Current report
Provision for Income Taxes
Current report
Operating Income by Segment
Current report
Dx segment operating income was $981.3 for the six months ended June 30, 2026, an increase of $71.0 over operating income of $910.3 in the corresponding period of 2025, and Dx segment operating margin increased approximately 40 basis points year-over-year. The increase in operating margin was primarily due to organic growth and operating efficiencies.
Current report
BLS segment operating income was $262.9 for the six months ended June 30, 2026, an increase of $32.7 over operating income of $230.2 in the corresponding period of 2025, and BLS segment operating margin increased approximately 100 basis points year-over-year. The increase in operating margin was primarily due to organic growth in the Central Laboratory business and operating efficiencies from the strategic actions taken in ED.
Current report
On June 28, 2026, the Company entered into an agreement to acquire select assets of an outreach laboratory services business for a purchase price of approximately $155.0. The transaction is anticipated to close in the third quarter of 2026, subject to customary closing conditions and applicable regulatory approvals for a transaction of this type.
Removed paragraphs (2)
Previous report
For the three months ended March 31, 2026, interest expense remained substantially consistent when compared to the three months ended March 31, 2025.
Previous report
At March 31, 2026, and in connection with the pending acquisitions of select assets of the outreach business from Parkview, the Company expects to pay up to $165.0. Subject to customary closing conditions and applicable regulatory approvals, the Company expects the acquisition of select assets from Parkview to close in 2026. See Note 3 Business Acquisitions to the Company’s Condensed Consolidated Financial Statements for additional information.
Reworded paragraphs (29)
Previous wording
For the three months ended March 31, 2026, the Company’s revenues were $3,537.6, an increase of 5.8% from $3,345.1 for the corresponding period in 2025. The 5.8% increase for the three months ended March 31, 2026, as compared to the corresponding period in 2025, was due to organic revenue of 3.1%, acquisitions, net of divestitures, of 1.4%, and favorable foreign currency translation of 1.3%.
Current wording
For the three months ended June 30, 2026, the Company’s revenues were $3,731.1, an increase of 5.8% from $3,527.3 for the corresponding period in 2025. The 5.8% increase for the three months ended June 30, 2026, as compared to the corresponding period in 2025, was primarily due to organic revenue of 4.2%, acquisitions, net of divestitures, of 1.2%, and favorable foreign currency translation of 0.4%.
Previous wording
On July 4, 2025, the U.S. government enacted the OBBBA, which includes provisions addressing regulations and federal funding affecting healthcare. These provisions include, but are not limited to, changes to Medicaid and the Affordable Care Act, and could lead to revised regulatory requirements and reduced federal funding. As a result of these changes, the Company could experience a decline in utilization of its diagnostics testing services due to a reduction in overall insurance coverage, which may cause the Company’s revenue to decrease. However, the Company currently believes any such reduction would not likely have a material impact on its results of operations in future periods. The potential impacts described above represent the Company’s assessment at this time, and the Company will continue to evaluate the impact of the OBBBA on its business and operations as the legislation’s provisions continue to become effective through 2028.
Current wording
On July 4, 2025, the U.S. government enacted the OBBBA, which included provisions addressing regulations and federal funding affecting healthcare. These provisions include, but are not limited to, changes to Medicaid and the Affordable Care Act, and could lead to revised regulatory requirements and reduced federal funding. As a result of these changes, the Company could experience a decline in utilization of its diagnostics testing services due to a reduction in overall insurance coverage, which may cause the Company’s revenue to decrease. However, the Company currently believes any such reduction would not likely have a material impact on its results of operations in future periods. The potential impacts described above represent the Company’s assessment at this time, and the Company will continue to evaluate the impact of the OBBBA on its business and operations as the legislation’s provisions continue to become effective through 2028.
Previous wording
BLS revenues for the three months ended March 31, 2026, were $780.6, an increase of 8.2% over $721.3 in the first quarter of 2025. The increase was due to favorable foreign currency translation of 5.5% and organic growth of 3.7%, partially offset by an unfavorable impact related to strategic actions undertaken in ED of 1.0%.
Current wording
BLS revenues for the three months ended June 30, 2026, were $836.2, an increase of 6.5% over $784.8 in the second quarter of 2025. The increase was due to organic growth of 6.2% and favorable foreign currency translation of 1.8%, partially offset by an unfavorable impact related to strategic actions undertaken in ED of 1.4%.
Previous wording
Cost of revenues increased 5.3% during the three months ended March 31, 2026, as compared with the corresponding period in 2025. Cost of revenues as a percentage of revenues during the three months ended March 31, 2026, decreased to 71.3% as compared to 71.7% in the corresponding period in 2025. This decrease was primarily due to organic growth and operating efficiencies, partially offset by typical increases in personnel costs.
Current wording
Cost of revenues increased 5.6% during the three months ended June 30, 2026, as compared with the corresponding period in 2025. Cost of revenues as a percentage of revenues during the three months ended June 30, 2026, decreased to 70.2% as compared to 70.3% in the corresponding period in 2025. This decrease was primarily due to organic growth and operating efficiencies, partially offset by increased personnel costs.
Previous wording
SG&A as a percentage of revenues were 15.6% and 16.3% during the three months ended March 31, 2026, and 2025, respectively. The decrease was primarily due to the impact from revenue growth.
Current wording
SG&A as a percentage of revenues were 15.5% and 16.4% during the three months ended June 30, 2026, and 2025, respectively. The decrease was primarily due to revenue growth.
Previous wording
During the three months ended March 31, 2026, the Company recorded net restructuring and other charges of $6.4. The charges were comprised of $14.6 related to severance and other personnel costs and $1.6 in facility-related costs. The charges were adjusted by the reversal of previously established liabilities of $6.6 in unused facility-related costs, $3.1 in contract termination costs, and $0.1 in unused severance and other personnel costs.
Current wording
During the three months ended June 30, 2026, the Company recorded net restructuring and other charges of $5.1. The charges were comprised of $5.2 related to severance and other personnel costs, $1.7 in facility-related costs, and $0.1 in contract termination costs. The charges were adjusted by the reversal of previously established liabilities of $1.8 in unused facility-related costs and $0.1 in unused severance and other personnel costs.
Previous wording
During the three months ended March 31, 2025, the Company recorded net restructuring and other charges of $6.4. The charges were comprised of $7.6 related to severance and other personnel costs. The charges were adjusted by the reversal of previously established liabilities of $1.1 in unused severance and other personnel costs and $0.1 in unused facility-related costs.
Current wording
During the three months ended June 30, 2025, the Company recorded net restructuring and other charges of $4.1. The charges were comprised of $15.1 in contract termination costs, $9.4 related to severance and other personnel costs, and $7.3 in facility-related costs. The charges were adjusted by the reversal of previously established liabilities of $26.4 in unused facility-related costs and $1.3 in unused severance and other personnel costs.
Previous wording
Equity method loss, net represents the Company’s ownership share in joint venture partnerships along with equity investments in other companies in the healthcare industry. The increase in Equity method loss, net for the three months ended March 31, 2026, as compared with the corresponding period in 2025, was primarily due to the loss recognized from the SYNLAB investment that closed in March 2025.
Current wording
Equity method loss, net represents the Company’s ownership share in joint venture partnerships along with equity investments in other companies in the healthcare industry. The increase in Equity method loss, net for the three months ended June 30, 2026, as compared with the corresponding period in 2025, was primarily due to the loss recognized from the SYNLAB investment.
Previous wording
Dx segment operating income was $458.7 for the three months ended March 31, 2026, an increase of $31.2 over operating income of $427.5 in the corresponding period of 2025, and Dx segment operating margin increased approximately 30 basis points year-over-year. The increase in operating income and operating margin was primarily due to organic growth, which includes an unfavorable impact from weather.
Current wording
Dx segment operating income was $522.6 for the three months ended June 30, 2026, an increase of $39.8 over operating income of $482.8 in the corresponding period of 2025, and Dx segment operating margin increased approximately 50 basis points year-over-year. The increase in operating income and operating margin was due to organic growth and operating efficiencies.
Previous wording
BLS segment operating income was $120.7 for the three months ended March 31, 2026, an increase of $13.8 over operating income of $106.9 in the corresponding period of 2025, and BLS segment operating margin increased approximately 60 basis points year-over-year. The increase in operating income and operating margin was primarily due to growth in the Central Laboratory business.
Current wording
BLS segment operating income was $142.2 for the three months ended June 30, 2026, an increase of $18.9 over operating income of $123.3 in the corresponding period of 2025, and BLS segment operating margin increased approximately 130 basis points year-over-year. The increase in operating income and operating margin was primarily due to organic growth in the Central Laboratory business and operating efficiencies from the strategic actions taken in ED.
Previous wording
Dx revenues for the three months ended March 31, 2026, were $2,762.1, an increase of 5.0% over $2,629.6 in the first quarter of 2025. The increase was primarily due to organic revenue of 2.9%, acquisitions, net of divestitures, of 2.0%, and favorable foreign currency translation of 0.2%.
Current wording
Dx revenues for the six months ended June 30, 2026, were $5,662.8, an increase of 5.3% over $5,378.4 during the six months ended June 30, 2025. The increase was due to organic revenue of 3.2%, acquisitions, net of divestitures, of 2.0%, and favorable foreign currency translation of 0.1%.
Previous wording
Dx total volume, measured by requisitions, increased by 2.5% as acquisition volume, net of divestitures, contributed 1.4% and organic volume increased by 1.1%, which includes an unfavorable impact from weather. Price/mix increased by 2.6% due to organic growth of 1.8%, acquisitions, net of divestitures, of 0.6%, and favorable foreign currency translation of 0.2%.
Current wording
Dx total volume, measured by requisitions, increased by 2.8% as organic volume increased by 1.4% and acquisition volume, net of divestitures, contributed 1.3%. Price/mix increased by 2.5% due to organic growth of 1.8%, acquisitions, net of divestitures, of 0.6%, and favorable foreign currency translation of 0.1%.
Previous wording
The change in Other, net for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, is primarily due to foreign currency transaction losses of $5.4 recognized for the three months ended March 31, 2026, as compared to losses of $1.0 for the corresponding period of 2025. In addition, there were investment losses of $7.1, recorded during the three months ended March 31, 2026, compared to investment losses of $3.4 for the corresponding period of 2025. As the TSA between Fortrea and LCAH expired on June 30, 2025, there were no fees charged to Fortrea for the three months ended March 31, 2026, as compared to $3.3 in the corresponding period in 2025.
Current wording
The change in Other, net for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025, was primarily due to investment losses of $8.6 recorded during the six months ended June 30, 2026, compared to investment losses of $34.7 for the corresponding period of 2025. In addition, there were foreign currency transaction losses of $7.5 recognized for the six months ended June 30, 2026, as compared to losses of $3.1 for the corresponding period of 2025. As the TSA between Fortrea and LCAH expired on June 30, 2025, there were no fees charged to Fortrea for the six months ended June 30, 2026, as compared to $3.8 in the corresponding period in 2025.
Previous wording
The decrease in the effective tax rate for the three months ended March 31, 2026, as compared with the corresponding period, was primarily attributable to discrete benefits recognized from the tax restructuring of certain foreign entities.
Current wording
The decrease in the effective tax rate for the six months ended June 30, 2026, as compared to the corresponding period in 2025, was primarily attributable to discrete benefits recognized from the tax restructuring of certain foreign entities.
Previous wording
General corporate and unallocated expenses are comprised primarily of administrative services such as executive management, human resources, legal, finance, corporate affairs, and information technology. General corporate and unallocated expenses were $116.6 for the three months ended March 31, 2026, a decrease of $15.8 compared to general corporate and unallocated expenses of $132.4 in the corresponding period of 2025, primarily due to decreases in acquisition and disposition-related costs.
Current wording
General corporate and unallocated expenses are comprised primarily of administrative services such as executive management, human resources, legal, finance, corporate affairs, and information technology. General corporate and unallocated expenses were $246.6 for the six months ended June 30, 2026, a decrease of $25.0 compared to general corporate and unallocated expenses of $271.6 in the corresponding period of 2025, primarily due to lower acquisition and disposition-related costs and LaunchPad costs.
Previous wording
Cash and cash equivalents at March 31, 2026, and 2025, totaled $981.1 and $369.4, respectively. Cash and cash equivalents consist of highly liquid instruments, such as time deposits, and other money market investments, which have original maturities of three months or less.
Current wording
Cash and cash equivalents at June 30, 2026, and 2025, totaled $141.8 and $647.3, respectively. Cash and cash equivalents consist of highly liquid instruments, such as time deposits, and other money market investments, which have original maturities of three months or less.
Previous wording
During the three months ended March 31, 2026, the Company’s operations provided $191.5 of cash as compared to $18.5 during the same period in 2025. The $173.0 increase in net cash provided from operations in 2026 as compared with the corresponding 2025 period was primarily due to higher cash earnings.
Current wording
During the six months ended June 30, 2026, the Company’s operations provided $637.0 of cash as compared to $639.1 during the same period in 2025. The $2.1 decrease in net cash provided by operations during the six months ended June 30, 2026, as compared with the corresponding 2025 period, was primarily due to changes in net working capital, partially offset by higher cash earnings.
Previous wording
Net cash used for investing activities for the three months ended March 31, 2026, was $322.1 as compared to $336.0 for the three months ended March 31, 2025. The decrease in cash used for investing activities for the three months ended March 31, 2026, as compared to the corresponding period in 2025, was primarily due to a decrease in purchases of equity affiliate or other investments and lower capital expenditures, partially offset by an increase in business acquisitions.
Current wording
Net cash used for investing activities for the six months ended June 30, 2026, was $688.3 as compared to $430.1 for the six months ended June 30, 2025. The increase in cash used for investing activities for the six months ended June 30, 2026, as compared to the corresponding period in 2025, was primarily due to increased business acquisitions and capital expenditures, partially offset by a decrease in the purchase of equity affiliates and other investments.
Previous wording
Capital expenditures were $121.0 and $126.0 for the three months ended March 31, 2026, and 2025, respectively. Capital expenditures for the three months ended March 31, 2026, were 3.4% of revenues, primarily in connection with projects to support growth in the Company’s core businesses, facility expansion and updates, and further acquisition integration activities.
Current wording
Capital expenditures were $252.6 and $203.9 for the six months ended June 30, 2026, and 2025, respectively. Capital expenditures for the six months ended June 30, 2026, were 3.5% of Revenues, primarily in connection with projects to support growth in the Company’s core businesses, facility expansion and updates, implement advanced technology, and further acquisition integration activities.
Previous wording
Net cash provided by financing activities for the three months ended March 31, 2026, was $580.5 as compared to net cash used for financing activities of $839.7 for the three months ended March 31, 2025. The movement in cash flows within financing activities for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, was primarily due to a decrease in payments on senior notes of $1,000.0, an increase in proceeds from the 2026 Term Loan of $750.0, a decrease in proceeds from the Company’s AR Facility of $225.0, and an increase of Common Stock repurchases of $98.0.
Current wording
Net cash used for financing activities for the six months ended June 30, 2026, was $339.4 as compared to $1,107.1 for the six months ended June 30, 2025. The decrease in cash flows used for financing activities for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025, was primarily due to increased proceeds from the 2026 Term Loan of $750.0, decreased payments on senior notes of $500.0, increased Common Stock repurchases of $251.8, and decreased proceeds, net of repayments, from the Company’s AR Facility of $200.0.
Previous wording
On January 28, 2026, the Company further amended its AR Facility. Among other things, this amendment extended the scheduled termination date to January 26, 2029, and permits the Company at its option to increase the facility limit from $700.0 to $825.0 at any time on or before May 29, 2026.
Current wording
On January 28, 2026, the Company further amended its AR Facility. Among other things, this amendment extended the scheduled termination date to January 26, 2029.
Previous wording
On March 20, 2026, the Company entered into the $750.0 2026 Term Loan that will mature on March 20, 2028, and anticipates using the proceeds to repay maturing short-term debt and for other corporate uses. The principal balance of the 2026 Term Loan bears interest at a floating per annum rate equal to, at the Company’s election, either (i) a SOFR-based rate plus a margin of 0.700% or (ii) a base rate plus a margin of 0.0%. The balance of the 2026 Term Loan at March 31, 2026, was $750.0.
Current wording
On March 20, 2026, the Company entered into the $750.0 2026 Term Loan that will mature on March 20, 2028. On June 1, 2026, the net proceeds of the 2026 Term Loan were used to redeem the Company’s outstanding 1.55% senior notes due 2026 and, to the extent not used for such purpose, were made available for other general corporate uses. The principal balance of the 2026 Term Loan bears interest at a floating per annum rate equal to, at the Company’s election, either (i) a SOFR-based rate plus a margin of 0.700% or (ii) a base rate plus a margin of 0.0%.
Previous wording
At March 31, 2026, the Company had outstanding authorization from its Board to purchase up to $732.4 maximum value of Common Stock. The repurchase authorization has no expiration date.
Current wording
At June 30, 2026, the Company had outstanding authorization from its Board to purchase up to $378.6 maximum value of Common Stock. On July 8, 2026, the Board authorized the repurchase of an additional $1,000.0 in the maximum value of the Company’s shares of Common Stock as part of the Company’s ongoing share repurchase program, bringing the total share repurchase authorization to $1,378.6 maximum value of shares of Common Stock. The repurchase authorization has no expiration date.
Previous wording
For the three months ended March 31, 2026, the Company paid $61.2 in Common Stock dividends. On April 9, 2026, the Company announced a cash dividend of $0.72 per share of Common Stock, or approximately $60.0 in the aggregate. The dividend will be paid on June 11, 2026, to stockholders of record of all issued and outstanding shares of Common Stock as of the close of business on May 29, 2026. The declaration and payment of any future dividends will be at the discretion of the Board.
Current wording
For the six months ended June 30, 2026, the Company paid $119.9 in Common Stock dividends. On July 9, 2026, the Company announced a cash dividend of $0.72 per share of Common Stock, or approximately $59.0 in the aggregate. The dividend will be paid on September 11, 2026, to stockholders of record of all issued and outstanding shares of Common Stock as of the close of business on August 28, 2026. The declaration and payment of any future dividends will be at the discretion of the Board.
Previous wording
In 2024, the Company, LCAH and U.S. Bank Trust Company, National Association (the Trustee) entered into a seventeenth supplemental indenture (the Seventeenth Supplemental Indenture) to the indenture, dated as of November 19, 2010, between LCAH and the Trustee (2010 Indenture). In addition, the Company, LCAH and the Trustee entered into the 2024 Indenture on September 23, 2024 (the 2024 Indenture, together with the 2010 Indenture, the Indentures). The Seventeenth Supplemental Indenture, among other things, provides for the full and unconditional guarantee by the Company of LCAH’s obligations under the 2010 Indenture, and each series of senior unsecured notes issued and outstanding thereunder, and the 2024 Indenture provides for the full and unconditional guarantee by the Company of LCAH’s obligations, and each series of senior unsecured notes issued and outstanding, thereunder (collectively, the Labcorp Holdings Guarantees). Also, the Indentures permit the Company to satisfy LCAH’s reporting obligations so long as the Labcorp Holdings Guarantees remain in place and the Company’s Condensed Consolidated Financial Statements and other information comply with the requirements of Rule 3-10 of Regulation S-X.
Current wording
In 2024, the Company, LCAH and U.S. Bank Trust Company, National Association (the Trustee) entered into a seventeenth supplemental indenture (the Seventeenth Supplemental Indenture) to the indenture, dated as of November 19, 2010, between LCAH and the Trustee (2010 Indenture). In addition, the Company, LCAH and the Trustee entered into the 2024 Indenture on September 23, 2024 (the 2024 Indenture, together with the 2010 Indenture, the Indentures). The Seventeenth Supplemental Indenture, among other things, provides for the full and unconditional guarantee by the Company of LCAH’s obligations under the 2010 Indenture, and each series of senior notes issued and outstanding thereunder, and the 2024 Indenture provides for the full and unconditional guarantee by the Company of LCAH’s obligations, and each series of senior notes issued and outstanding, thereunder (collectively, the Labcorp Holdings Guarantees). Also, the Indentures permit the Company to satisfy LCAH’s reporting obligations so long as the Labcorp Holdings Guarantees remain in place and the Company’s Condensed Consolidated Financial Statements and other information comply with the requirements of Rule 3-10 of Regulation S-X.
Previous wording
At March 31, 2026, there was $3,096.2 and $2,000.0 aggregate principal amount of issued and outstanding senior notes of LCAH, issued under the 2010 Indenture and the 2024 Indenture, respectively, that are fully and unconditionally guaranteed by the Company. Accordingly, pursuant to Rule 3-10 of Regulation S-X, separate consolidated financial statements of LCAH have not been presented. As permitted under Rule 13-01(a)(4)(vi) of Regulation S-X, the Company has excluded the summarized financial information for LCAH because the assets, liabilities, and results of operations of LCAH are not materially different than the corresponding amounts in the Company’s Condensed Consolidated Financial Statements and management believes such summarized financial information would be repetitive and would not provide incremental value to investors.
Current wording
At June 30, 2026, there was $2,593.1 and $2,000.0 aggregate principal amount of issued and outstanding senior notes of LCAH, issued under the 2010 Indenture and the 2024 Indenture, respectively, that are fully and unconditionally guaranteed by the Company. Accordingly, pursuant to Rule 3-10 of Regulation S-X, separate consolidated financial statements of LCAH have not been presented. As permitted under Rule 13-01(a)(4)(vi) of Regulation S-X, the Company has excluded the summarized financial information for LCAH because the assets, liabilities, and results of operations of LCAH are not materially different than the corresponding amounts in the Company’s Condensed Consolidated Financial Statements and management believes such summarized financial information would be repetitive and would not provide incremental value to investors.
Previous wording
The Company has a noncancelable contract with a vendor to purchase supplies inventory pursuant to which the Company is obligated to make expected total future minimum payments of $122.3, including $27.8 for the remainder of 2026, $20.5 in 2027, and $74.0 in 2028.
Current wording
The Company has a noncancelable contract with a vendor to purchase supplies inventory pursuant to which the Company is obligated to make expected total future minimum payments of $115.4, including $20.9 for the remainder of 2026, $20.5 in 2027, and $74.0 in 2028.
Previous wording
The Company has debt instruments outstanding. At March 31, 2026, the Company had total future payments of $6,371.6, with $500.4 payable within 12 months, which the Company anticipates to repay primarily using the proceeds from the 2026 Term Loan.
Current wording
The Company has debt instruments outstanding. At June 30, 2026, the Company had total future payments of $5,894.0, with $0.9 payable within 12 months.
Previous wording
The Company has leases for PSCs, laboratories and testing facilities, clinical facilities, general office spaces, vehicles, and office and laboratory equipment. At March 31, 2026, the Company had total future lease payments for short-term and long-term leases of $1,092.8, with payments of $221.0 due within 12 months.
Current wording
The Company has leases for PSCs, laboratories and testing facilities, clinical facilities, general office spaces, vehicles, and office and laboratory equipment. At June 30, 2026, the Company had total future lease payments for short-term and long-term leases of $1,098.9, with payments of $226.5 due within 12 months.
Rearranged current paragraphs (7)
Current report — wording carried from elsewhere
Dx total volume, measured by requisitions, increased by 3.0% as organic volume increased by 1.8% and acquisition volume, net of divestitures, contributed 1.3%. Price/mix increased by 2.5% due to organic growth of 1.8% and acquisitions, net of divestitures, of 0.6%.
Current report — wording carried from elsewhere
The increase in the effective tax rate for the three months ended June 30, 2026, as compared with the corresponding period in 2025, was primarily attributable to the jurisdictional mix of earnings.
Current report — wording carried from elsewhere
General corporate and unallocated expenses are comprised primarily of administrative services such as executive management, human resources, legal, finance, corporate affairs, and information technology. General corporate and unallocated expenses were $130.0 for the three months ended June 30, 2026, a decrease of $9.2 compared to general corporate and unallocated expenses of $139.2 in the corresponding period of 2025, primarily due to lower LaunchPad costs and other expenses, partially offset by higher acquisition and disposition-related costs.
Current report — wording carried from elsewhere
Cost of revenues increased 5.4% during the six months ended June 30, 2026, as compared with the corresponding period in 2025. Cost of revenues as a percentage of revenues during the six months ended June 30, 2026, decreased to 70.8% as compared to 71.0% in the corresponding period in 2025. This decrease was primarily due to organic growth and operating efficiencies, partially offset by increased personnel costs.
Current report — wording carried from elsewhere
Amortization of Intangibles and Other Assets
Current report — wording carried from elsewhere
The increase in amortization of intangibles and other assets primarily reflects additional amortization for assets acquired subsequent to June 30, 2025.
Current report — wording carried from elsewhere
Equity method loss, net represents the Company’s ownership share in joint venture partnerships along with equity investments in other companies in the healthcare industry. The increase in Equity method loss, net for the six months ended June 30, 2026, as compared with the corresponding period in 2025, was primarily due to the loss recognized from the SYNLAB investment.