$DGX
QUEST DIAGNOSTICS INC

2017 Q4 Form 10-Q Financial Statement

#000102207917000194 Filed on October 19, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $1.865B $1.856B $1.885B
YoY Change 0.21% -1.54% 0.27%
Cost Of Revenue $1.180B $1.190B $1.157B
YoY Change 4.98% 2.85% -0.43%
Gross Profit $671.0M $666.0M $728.0M
YoY Change -4.28% -8.52% 1.39%
Gross Profit Margin 35.98% 35.88% 38.62%
Selling, General & Admin $354.0M $348.0M $409.0M
YoY Change 428.36% -14.91% 1.74%
% of Gross Profit 52.76% 52.25% 56.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.00M $69.00M $63.00M
YoY Change 15.87% 9.52% -18.18%
% of Gross Profit 10.88% 10.36% 8.65%
Operating Expenses $374.0M $348.0M $409.0M
YoY Change 306.52% -14.91% 1.74%
Operating Profit $297.0M $298.0M $322.0M
YoY Change -51.23% -7.45% -48.97%
Interest Expense -$39.00M $39.00M $37.00M
YoY Change 8.33% 5.41% 5.71%
% of Operating Profit -13.13% 13.09% 11.49%
Other Income/Expense, Net $4.000M -$40.00M -$33.00M
YoY Change 100.0% 21.21% -15.38%
Pretax Income $234.0M $258.0M $289.0M
YoY Change -3.31% -10.73% -51.18%
Income Tax $83.00M $92.00M $95.00M
% Of Pretax Income 35.47% 35.66% 32.87%
Net Earnings $254.0M $161.0M $192.0M
YoY Change 63.87% -16.15% -43.86%
Net Earnings / Revenue 13.62% 8.67% 10.19%
Basic Earnings Per Share $1.86 $1.18 $1.37
Diluted Earnings Per Share $1.82 $1.15 $1.34
COMMON SHARES
Basic Shares Outstanding 136.3M shares 137.0M shares 139.0M shares
Diluted Shares Outstanding 140.0M shares 142.0M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.0M $350.0M $406.0M
YoY Change -61.84% -13.79% 230.08%
Cash & Equivalents $137.0M $350.0M $406.0M
Short-Term Investments
Other Short-Term Assets $150.0M $134.0M $188.0M
YoY Change -8.54% -28.72% -64.19%
Inventory $95.00M $100.0M $82.00M
Prepaid Expenses
Receivables $924.0M $960.0M $966.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.306B $1.544B $1.642B
YoY Change -14.7% -5.97% -0.36%
LONG-TERM ASSETS
Property, Plant & Equipment $1.145B $1.097B $952.0M
YoY Change 11.27% 15.23% 7.45%
Goodwill $6.335B $6.164B $6.000B
YoY Change 5.58% 2.73% 1.78%
Intangibles $1.119B $1.029B $972.0M
YoY Change 17.91% 5.86% -3.19%
Long-Term Investments $462.0M $459.0M $452.0M
YoY Change 4.29% 1.55% -5.44%
Other Assets $136.0M $146.0M $155.0M
YoY Change -8.11% -5.81% -4.91%
Total Long-Term Assets $9.197B $8.895B $8.531B
YoY Change 7.33% 4.27% 1.25%
TOTAL ASSETS
Total Short-Term Assets $1.306B $1.544B $1.642B
Total Long-Term Assets $9.197B $8.895B $8.531B
Total Assets $10.50B $10.44B $10.17B
YoY Change 3.99% 2.61% 0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.021B $1.047B $1.039B
YoY Change 291.19% 0.77% 6.78%
Accrued Expenses $246.0M
YoY Change -3.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $36.00M $5.000M $7.000M
YoY Change 500.0% -28.57% -95.63%
Total Short-Term Liabilities $1.057B $1.052B $1.046B
YoY Change 7.75% 0.57% -7.68%
LONG-TERM LIABILITIES
Long-Term Debt $3.748B $3.759B $3.815B
YoY Change 0.54% -1.47% 6.83%
Other Long-Term Liabilities $663.0M $722.0M $542.0M
YoY Change 1.38% 33.21% -20.29%
Total Long-Term Liabilities $4.411B $722.0M $4.357B
YoY Change 0.66% -83.43% 2.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.057B $1.052B $1.046B
Total Long-Term Liabilities $4.411B $722.0M $4.357B
Total Liabilities $5.468B $1.774B $5.403B
YoY Change 1.96% -67.17% 0.35%
SHAREHOLDERS EQUITY
Retained Earnings $7.138B $6.946B $6.520B
YoY Change 7.94% 6.53% 7.48%
Common Stock $2.614B $2.587B $2.528B
YoY Change 2.63% 2.33% 2.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.783B $4.691B $4.324B
YoY Change 7.24% 8.49% 10.39%
Treasury Stock Shares 81.00M shares 80.00M shares 77.00M shares
Shareholders Equity $4.921B $4.794B $4.663B
YoY Change
Total Liabilities & Shareholders Equity $10.50B $10.44B $10.17B
YoY Change 3.99% 2.61% 0.98%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $254.0M $161.0M $192.0M
YoY Change 63.87% -16.15% -43.86%
Depreciation, Depletion And Amortization $73.00M $69.00M $63.00M
YoY Change 15.87% 9.52% -18.18%
Cash From Operating Activities $323.0M $362.0M $301.0M
YoY Change -7.98% 20.27% 41.98%
INVESTING ACTIVITIES
Capital Expenditures -$82.00M -$63.00M -$61.00M
YoY Change -35.94% 3.28% 17.31%
Acquisitions $187.0M $4.000M
YoY Change 4575.0% -88.57%
Other Investing Activities -$284.0M -$184.0M -$11.00M
YoY Change -717.39% 1572.73% -82.26%
Cash From Investing Activities -$366.0M -$247.0M -$72.00M
YoY Change 346.34% 243.06% -36.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.0M -79.00M -106.0M
YoY Change -41.58% -25.47% -15.2%
NET CHANGE
Cash From Operating Activities 323.0M 362.0M 301.0M
Cash From Investing Activities -366.0M -247.0M -72.00M
Cash From Financing Activities -170.0M -79.00M -106.0M
Net Change In Cash -213.0M 36.00M 123.0M
YoY Change 868.18% -70.73% -555.56%
FREE CASH FLOW
Cash From Operating Activities $323.0M $362.0M $301.0M
Capital Expenditures -$82.00M -$63.00M -$61.00M
Free Cash Flow $405.0M $425.0M $362.0M
YoY Change -15.45% 17.4% 37.12%

Facts In Submission

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us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Background</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Quest Diagnostics Incorporated and its subsidiaries ("Quest Diagnostics" or the "Company") empower people to take action to improve health outcomes.&#160; The Company uses its extensive database of clinical lab results to derive diagnostic insights that reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management.&#160; The Company's diagnostic information services business ("DIS") provides insights through clinical testing and related services to a broad range of customers, including patients, clinicians, hospitals, integrated delivery networks ("IDNs"), health plans, employers and accountable care organizations ("ACOs"). The Company offers the broadest access in the United States to diagnostic information services through its nationwide network of laboratories, patient service centers and phlebotomists in physician offices. The Company is the world's leading provider of diagnostic information services, which includes providing clinical testing services such as routine testing, non-routine (including advanced diagnostics) testing, and anatomic pathology services, as well as related services and insights. The Company provides interpretive consultation with one of the largest medical and scientific staffs in the industry and hundreds of M.D.s and Ph.D.s, many of whom are recognized leaders in their fields. The Company's Diagnostic Solutions ("DS") businesses offer a variety of solutions for life insurers and healthcare providers. The Company is the leading provider of risk assessment services for the life insurance industry. In addition, the Company offers healthcare organizations and clinicians robust information technology solutions. Prior to the sale of the Focus Diagnostics products business on May 13, 2016, the Company's diagnostics products business manufactured and marketed diagnostic products.</font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </font></div></div>

Files In Submission

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0001022079-17-000194-index-headers.html Edgar Link pending
0001022079-17-000194-index.html Edgar Link pending
0001022079-17-000194.txt Edgar Link pending
0001022079-17-000194-xbrl.zip Edgar Link pending
dgx-20170930.xml Edgar Link completed
dgx-20170930.xsd Edgar Link pending
dgx-20170930_cal.xml Edgar Link unprocessable
dgx-20170930_def.xml Edgar Link unprocessable
dgx-20170930_lab.xml Edgar Link unprocessable
dgx-20170930_pre.xml Edgar Link unprocessable
dgx0930201710-q.htm Edgar Link pending
dgx09302017ex311.htm Edgar Link pending
dgx09302017ex312.htm Edgar Link pending
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dgx09302017ex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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