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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue, Net $ 2,372.7 $ 2,269.9 $ 7,049.9 $ 6,260.9
Reimbursement Revenue 42.0 47.4 163.5 118.7
Revenues 2,414.7 2,317.3 7,213.4 6,379.6
Cost of sales 1,584.3 1,505.0 4,657.4 4,098.2
Cost of Reimbursable Expense 42.0 47.4 163.5 118.7
Cost of Revenue 1,626.3 1,552.4 4,820.9 4,216.9
Gross profit 788.4 764.9 2,392.5 2,162.7
Selling, general and administrative expenses 400.5 385.6 1,224.2 1,221.9
Amortization of intangibles and other assets 41.1 44.9 130.7 120.6
Net restructuring and other special charges 22.8 26.3 48.6 59.9
Operating Income (Loss) 324.0 308.1 989.0 760.3
Other income (expenses):        
Interest expense (58.2) (55.9) (166.2) (218.1)
Equity method income, net 2.6 2.0 5.9 7.6
Investment income 0.6 0.5 1.5 1.4
Other, net (5.6) (3.2) (1.3) (4.4)
Earnings before income taxes 263.4 251.5 828.9 546.8
Provision for income taxes 83.6 96.5 280.3 218.3
Net earnings 179.8 155.0 548.6 328.5
Less: Net earnings attributable to the noncontrolling interest (0.3) (0.3) (0.9) (0.9)
Net earnings attributable to Laboratory Corporation of America Holdings $ 179.5 $ 154.7 $ 547.7 $ 327.6
Basic earnings per common share (in dollars per share) $ 1.74 $ 1.53 $ 5.36 $ 3.35
Diluted earnings per common share (in dollars per share) $ 1.71 $ 1.50 $ 5.25 $ 3.29