QUEST DIAGNOSTICS INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Consolidated Balance Sheets
| 2023 | 2022 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $686 | $315 |
| Accounts receivable, net of allowance for credit losses of $27 and $30 as of December 31, 2023 and 2022, respectively | 1,210 | 1,195 |
| Inventories | 190 | 192 |
| Prepaid expenses and other current assets | 286 | 196 |
| Total current assets | 2,372 | 1,898 |
| Property, plant and equipment, net | 1,816 | 1,766 |
| Operating lease right-of-use assets | 602 | 585 |
| Goodwill | 7,733 | 7,220 |
| Intangible assets, net | 1,166 | 1,092 |
| Investments in equity method investees | 135 | 132 |
| Other assets | 198 | 144 |
| Total assets | $14,022 | $12,837 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | $1,359 | $1,396 |
| Current portion of long-term debt | 303 | 2 |
| Current portion of long-term operating lease liabilities | 153 | 153 |
| Total current liabilities | 1,815 | 1,551 |
| Long-term debt | 4,410 | 3,978 |
| Long-term operating lease liabilities | 503 | 489 |
| Other liabilities | 876 | 812 |
| Commitments and contingencies | ||
| Redeemable noncontrolling interest | 76 | 77 |
| Stockholders’ equity: | ||
| Quest Diagnostics stockholders’ equity: | ||
| Common stock, par value $0.01 per share; 600 shares authorized as of both December 31, 2023 and 2022; 162 shares issued as of both December 31, 2023 and 2022 | 2 | 2 |
| Additional paid-in capital | 2,320 | 2,295 |
| Retained earnings | 8,825 | 8,290 |
| Accumulated other comprehensive loss | (14) | (21) |
| Treasury stock, at cost; 51 shares as of both December 31, 2023 and 2022 | (4,826) | (4,673) |
| Total Quest Diagnostics stockholders’ equity | 6,307 | 5,893 |
| Noncontrolling interests | 35 | 37 |
| Total stockholders’ equity | 6,342 | 5,930 |
| Total liabilities and stockholders’ equity | $14,022 | $12,837 |
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