XML 77 R53.htm IDEA: XBRL DOCUMENT v3.8.0.1
BUSINESS ACQUISITIONS (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Jul. 31, 2017
Jul. 27, 2016
Feb. 19, 2015
Jan. 30, 2015
Dec. 19, 2014
Nov. 01, 2013
Business Acquisition [Line Items]                                      
Stock Issued During Period, Shares, Acquisitions                   15.3                  
Total acquisition consideration (cash and non-cash)                           $ 1,224.5 $ 249.1 $ 6,150.7      
Long-term debt, less current portion $ 6,344.6       $ 5,300.0         $ 6,344.6 $ 5,300.0                
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability               $ 4.9 $ 1.7 3.0                  
Employee Severance Benefits Related Restructuring Reserve Accrual Adjustment                   0.5                  
Facility Related Restructuring Reserve Accrual Adjustment               3.5   4.6     $ 1.1            
Business Acquisition, Share Price                             $ 2.40        
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           0.9          
Goodwill, net 7,530.0       6,424.4         7,530.0 6,424.4 $ 6,202.1              
Payments to Acquire Businesses, Net of Cash Acquired                   1,882.6 548.6 3,736.0              
Finite-lived Intangible Assets Acquired                   1,053.0                  
Goodwill, Acquired During Period               398.3   $ 1,009.8                  
Line of Credit Facility, Maximum Borrowing Capacity                                   $ 1,000.0  
Purchase Price Allocation [Abstract]                                      
Weighted-average useful lives of identifiable intangible assets                   19 years 3 months                  
Cash payments to acquire laboratory-related assets                   $ 312.9 278.9 255.8              
Senior Notes, Noncurrent 2,900.0                 2,900.0             $ 2,900.0   $ 700.0
Noncontrolling Interest Put [Abstract]                                      
Net sales 2,701.5 $ 2,597.9 $ 2,498.4 $ 2,408.1 2,387.3 $ 2,372.7 $ 2,382.0 2,295.2   10,205.9 9,437.2 8,505.7              
Proforma consolidated net revenue               188.4   10,576.3 9,937.4                
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax                   1,377.0 1,327.2                
Business Acquisition, Pro Forma Net Income (Loss)                   $ 1,258.3 $ 714.3                
Proforma consolidated net income               11.6                      
Business Acquisition, Pro Forma Earnings Per Share, Basic                   $ 12,290,000 $ 6,970,000                
Unbilled Receivables, Current 138.2       97.1         $ 138.2 $ 97.1                
Revenues               9,641.8   10,441.4 9,641.8 8,680.1              
Operating Income (Loss)                   1,364.2 1,312.4 996.8              
Net earnings attributable to Laboratory Corporation of America Holdings 706.8 $ 180.6 $ 188.6 $ 192.2 184.4 179.5 $ 204.1 164.1   1,268.2 $ 732.1 437.6              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents                           30.7          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables                           105.6          
Purchase price adjustment                   $ 0.0                  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets                           57.9          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment                           12.1          
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                           (760.5)          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable                           45.1          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                           23.4          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue                           124.2          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other                           1.1          
Business Combination, Separately Recognized Transactions, Liabilities Recognized                           414.4          
Proforma consolidated diluted earnings per share                   $ 12,110,000 $ 6,850,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                           32.6          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets                           1,638.9          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent                           220.6          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net                           1,224.5          
Senior notes due 2025 [Member]                                      
Purchase Price Allocation [Abstract]                                      
Debt Instrument, Interest Rate, Stated Percentage                                 3.60%    
Senior Notes, Noncurrent                                 $ 1,000.0    
Senior notes due 2020 [Member]                                      
Business Acquisition [Line Items]                                      
Long-term debt, less current portion 600.0                 $ 600.0                  
Covance, Inc. [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Proforma consolidated net revenue                       9,033.3              
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax                       1,117.2              
Business Acquisition, Pro Forma Net Income (Loss)                       $ 547.5              
Business Acquisition, Pro Forma Earnings Per Share, Basic                       $ 5,050,000              
Proforma consolidated diluted earnings per share                       $ 5,030,000              
Chiltern [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           0.0          
Noncontrolling Interest Put [Abstract]                                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents                           30.7          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables                           116.9          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets                           57.9          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment                           12.1          
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                           (676.6)          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable                           18.1          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities                           51.0          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue                           124.2          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other                           1.1          
Business Combination, Separately Recognized Transactions, Liabilities Recognized                           402.4          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets                           32.6          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets                           1,626.9          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent                           208.0          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net                           1,224.5          
Sequenom acquisition [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable deferred tax liabilities assumed         45.1           $ 45.1                
Finite-lived Intangible Assets Acquired                     146.6                
Goodwill, Acquired During Period                     $ 206.0                
Purchase Price Allocation [Abstract]                                      
Weighted-average useful lives of identifiable intangible assets                     14 years 7 months                
Excluding Covance [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Payments to Acquire Businesses, Net of Cash Acquired                   688.8 $ 299.5                
Finite-lived Intangible Assets Acquired                   1,053.0 126.2                
Goodwill, Acquired During Period                   1,009.8 192.3                
Acquisitions excluding LipoScience [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Payments to Acquire Businesses, Net of Cash Acquired                       $ 128.4              
Finite-lived Intangible Assets Acquired                       17.4              
Goodwill, Acquired During Period                       68.4              
Covance [Member]                                      
Business Acquisition [Line Items]                                      
Cash on Hand Used for Acquisition                               $ 488.2      
Business Acquisition, Share Price                               $ 75.76      
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Rate       26.86%                              
Acquisition Financing                               $ 3,900,000.0      
Business Acquisition, Transaction Costs $ 25.4       6.9         25.4 6.9 $ 166.0              
Purchase Price Allocation [Abstract]                                      
Net Proceeds from Debt                                 $ 2,870.2    
Selling, General and Administrative Expenses [Member]                                      
Business Acquisition [Line Items]                                      
Other Special Charges               $ 25.6   1.3 9.0                
Selling, General and Administrative Expenses [Member] | Covance [Member]                                      
Business Acquisition [Line Items]                                      
Business Acquisition, Transaction Costs         113.4           113.4                
Interest Expense [Member] | Covance [Member]                                      
Business Acquisition [Line Items]                                      
Business Acquisition, Transaction Costs         $ 52.6           $ 52.6                
60-Day Debt Bridge Traunche [Domain]                                      
Cost of Acquired Entity [Abstract]                                      
Bridge Term Credit Facility Agreement, Maximum Borrowing Amount                                   $ 400.0  
Short-term Debt, Terms               P60D                      
Cash and Cash Equivalents [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   0.0                  
Accrued Liabilities [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   (27.6)                  
Deferred Revenue [Domain]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   0.0                  
Deferred tax liability [Domain]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   12.6                  
Other Liabilities [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   0.0                  
Accounts Receivable [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   (11.3)                  
Prepaid Expenses and Other Current Assets [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   0.0                  
Property, Plant and Equipment [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   0.0                  
Goodwill [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   83.9                  
Assets [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   12.0                  
Accounts Payable [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   27.0                  
Liability [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   12.0                  
Other Current Assets [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   $ 0.0                  
Software and Software Development Costs [Member] | Chiltern [Member]                                      
Purchase Price Allocation [Abstract]                                      
Weighted-average useful lives of identifiable intangible assets                   6 years                  
Use Rights [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Finite-lived Intangible Assets Acquired                   $ 0.9                  
Technology-Based Intangible Assets [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           26.0          
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   (21.0)                  
Technology-Based Intangible Assets [Member] | Chiltern [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           47.0          
Trademarks and Trade Names [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           10.6          
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   $ (13.5)                  
Trademarks and Trade Names [Member] | Chiltern [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           24.1          
Purchase Price Allocation [Abstract]                                      
Weighted-average useful lives of identifiable intangible assets                   4 years                  
Trade Names [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Finite-lived Intangible Assets Acquired                   $ 15.7                  
Purchase Price Allocation [Abstract]                                      
Weighted-average useful lives of identifiable intangible assets                   5 years 8 months                  
Customer Relationships [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           602.0          
Finite-lived Intangible Assets Acquired                   $ 955.7                  
Acquired Finite-lived Intangible Assets, Useful Life                   21 years                  
Purchase Price Allocation [Abstract]                                      
Weighted-average useful lives of identifiable intangible assets                   20 years 8 months                  
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   $ (27.0)                  
Customer Relationships [Member] | Chiltern [Member]                                      
Cost of Acquired Entity [Abstract]                                      
Business combination, recognized identifiable intangible assets acquired                           $ 629.0          
Off-Market Favorable Lease [Member]                                      
Noncontrolling Interest Put [Abstract]                                      
Purchase price adjustment                   $ 0.9                  
Senior notes due 2018 [Member]                                      
Business Acquisition [Line Items]                                      
Long-term debt, less current portion           $ 130.0