BUSINESS SEGMENT INFORMATION Business Segment information (Notes)

6 Months Ended

Jun. 30, 2015

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

BUSINESS SEGMENT INFORMATION

The following table is a summary of segment information for the three and six months ended June 30, 2015 and 2014. The “management approach” has been used to present the following segment information. This approach is based upon the way the management of the Company organizes segments within an enterprise for making operating decisions and assessing performance. Financial information is reported on the basis that it is used internally by the chief operating decision maker (“CODM”) for evaluating segment performance and deciding how to allocate resources to segments. The Company’s chief executive officer has been identified as the CODM.

Prior to the first quarter of 2015, the CODM managed the operating results of the Company as two segments: clinical laboratory diagnostics and other. In connection with the Acquisition, the Company changed its operating segments to align with how the CODM evaluates financial information used to allocate resources and assess performance of the Company following the Acquisition. The segment information presented in these financial statements has been conformed to present segments on this revised basis for all prior periods. Under the new organizational structure, the CODM manages the Company under two segments: LCD and CDD. LCD includes the Company's legacy LabCorp business, and the Company's nutritional chemistry and food safety business, which were previously part of Covance, but excludes LabCorp’s legacy clinical trials testing business, which is now part of CDD. CDD includes Covance's legacy business, and LabCorp’s legacy clinical trials testing business, but excludes Covance's nutritional chemistry and food safety business, which are now part of LCD.

Segment asset information is not presented because it is not used by the CODM at the segment level. Operating earnings (loss) of each segment represents net revenues less directly identifiable expenses to arrive at operating income for the segment. General management and administrative corporate expenses are included in general corporate expenses below. The accounting policies of the segments are the same as those as set forth in Note 1 to the Consolidated Financial Statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and Note 1 (Basis of Financial Statement Presentation) above to the interim condensed consolidated financial statements.

The table below represents information about the Company’s reporting segments for the three months ended June 30, 2015 and 2014:

	Three Months Ended						Six Month Ended
	June 30,						June 30,
	2015			2014			2015			2014
Total revenues:
LCD - net revenue	$	1,575.0		$	1,473.7		$	3,047.0		$	2,866.6
CDD - net revenue	643.7			42.7			944.0			80.5
CDD - reimbursable out-of-pocket expenses	50.4			—			71.3			—
Total revenues	2,269.1			1,516.4			4,062.3			2,947.1
Operating earnings (loss):
LCD	314.8			277.0			537.6			509.3
CDD	52.5			5.2			(1.0		)	9.7
Unallocated corporate expenses	(46.0		)	(35.5		)	(84.2		)	(69.0		)
Total operating income	321.3			246.7			452.4			450.0
Other income (expense), net	(57.0		)	(14.2		)	(156.9		)	(29.8		)
Earnings before income taxes	264.3			232.5			295.5			420.2
Provision for income taxes	95.6			90.8			125.2			165.0
Net earnings	168.7			141.7			170.3			255.2
Less income attributable to noncontrolling interests	(0.3		)	(0.4		)	(0.6		)	(0.8		)
Net income attributable to Laboratory Corporation of America Holdings	$	168.4		$	141.3		$	169.7		$	254.4