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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2003, 2002 AND 2001
(in thousands)
|
|
Common
Stock |
Additional
Paid-In
Capital |
Retained Earnings
(Accumulated
Deficit) |
Unearned
Compen-
sation |
Accumulated
Other
Comprehensive
Income (Loss) |
|
Balance, December
31, 2000
..................... |
$ 465 |
$1,591,976 |
$(525,111) |
$(31,077) |
$(5,458) |
$
- |
|
|
Net income.................................................. |
|
|
162,303 |
|
|
|
$ 162,303 |
|
Other comprehensive income...................... |
|
|
|
|
1,988 |
|
1,988 |
|
Comprehensive income............................... |
|
|
|
|
|
|
$ 164,291
|
|
Two-for-one stock split
(47,149 common shares)
........................ |
472 |
(472) |
|
|
|
|
|
|
Preferred dividends declared
....................... |
|
|
(118) |
|
|
|
|
|
Issuance
of common stock under benefit
plans (233 common shares)
..................... |
2 |
25,040 |
|
(3,540) |
|
|
|
|
Exercise of stock options
(2,101 common shares)
...........................
|
21
|
25,610
|
|
|
|
|
|
|
Tax
benefits associated with stock-
based compensation plans......................... |
|
71,917 |
|
|
|
|
|
|
Adjustment
to Corning receivable................ |
|
605 |
|
|
|
|
|
|
Amortization
of unearned compensation..... |
|
|
|
21,364 |
|
|
|
Balance, December 31, 2001....................... |
960 |
1,714,676 |
(362,926) |
(13,253) |
(3,470) |
- |
|
|
Net income................................................... |
|
|
322,154 |
|
|
|
$ 322,154 |
|
Other
comprehensive loss............................ |
|
|
|
|
(2,054)
|
|
(2,054) |
|
Comprehensive
income................................ |
|
|
|
|
|
|
$
320,100
|
|
Issuance of common stock under benefit
plans (418 common shares)................. |
4 |
31,310 |
|
|
|
|
|
|
Exercise of stock options
(1,521 common shares)
.......................... |
16 |
27,018 |
|
|
|
|
|
|
Tax benefits associated with stock-based
compensation plans.............................
|
|
44,507 |
|
|
|
|
|
|
Amortization of unearned compensation.....
|
|
|
|
9,921 |
|
|
|
|
Balance, December
31, 2002
..................... |
980 |
1,817,511 |
(40,772) |
(3,332) |
(5,524) |
- |
|
|
Net income.................................................. |
|
|
436,717 |
|
|
|
$
436,717 |
|
Other comprehensive income...................... |
|
|
|
|
11,471 |
|
11,471
|
|
Comprehensive
income............................... |
|
|
|
|
|
|
$ 448,188
|
|
Dividend declared........................................
|
|
|
(15,386) |
|
|
|
|
|
Shares issued to acquire Unilab
(7,055 common shares)............................
|
71 |
372,393 |
|
|
|
|
|
|
Fair value of Unilab
converted options........
|
|
8,452
|
|
|
|
|
|
|
Issuance of common stock under benefit
plans (400 common shares)
..................... |
4 |
18,081 |
|
(4,313) |
|
|
|
|
Exercise of stock options
(1,567 common shares)
............................ |
15 |
29,872 |
|
|
|
|
|
|
Shares to cover employee payroll tax
withholdings on stock issued under
benefit
plans (181 common shares)..... |
(2) |
(9,791) |
|
|
|
|
|
|
Tax benefits associated with stock-based
compensation
plans
................................. |
|
30,496 |
|
|
|
|
|
|
Amortization of unearned compensation...... |
|
|
|
5,299 |
|
|
|
|
Purchases of treasury stock
(3,990 common shares)............................ |
|
|
|
|
|
(257,548) |
|
Balance, December 31, 2003
................
|
$ 1,068 |
$2,267,014 |
$ 380,559 |
$ (2,346) |
$ 5,947 |
$(257,548) |
|
The accompanying notes are an integral part of these statements.
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