$DGX
Quest Diagnostics Inc

2021 Q2 Form 10-Q Financial Statement

#000102207921000111 Filed on July 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $0.00 $1.000M
YoY Change -100.0% 0.0%
Cost Of Revenue $1.565B $1.221B
YoY Change 28.17% -3.48%
Gross Profit -$1.565B $606.0M
YoY Change -358.25% -11.92%
Gross Profit Margin 60600.0%
Selling, General & Admin $429.0M $360.0M
YoY Change 19.17% -0.55%
% of Gross Profit 59.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0M $89.00M
YoY Change 12.36% 9.88%
% of Gross Profit 14.69%
Operating Expenses $429.0M $360.0M
YoY Change 19.17% -0.55%
Operating Profit $533.0M $283.0M
YoY Change 88.34% -7.82%
Interest Expense $38.00M $42.00M
YoY Change -9.52% -8.7%
% of Operating Profit 7.13% 14.84%
Other Income/Expense, Net $284.0M -$28.00M
YoY Change -1114.29% -33.33%
Pretax Income $817.0M $255.0M
YoY Change 220.39% -3.77%
Income Tax $177.0M $66.00M
% Of Pretax Income 21.66% 25.88%
Net Earnings $631.0M $185.0M
YoY Change 241.08% -18.14%
Net Earnings / Revenue 18500.0%
Basic Earnings Per Share $5.05 $1.38
Diluted Earnings Per Share $4.96 $1.36
COMMON SHARES
Basic Shares Outstanding 125.0M shares 134.0M shares
Diluted Shares Outstanding 127.0M shares 136.0M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $560.0M $988.0M
YoY Change -43.32% 261.9%
Cash & Equivalents $560.0M $988.0M
Short-Term Investments
Other Short-Term Assets $132.0M $110.0M
YoY Change 20.0% 13.4%
Inventory $199.0M $154.0M
Prepaid Expenses
Receivables $1.255B $1.126B
Other Receivables $0.00 $2.000M
Total Short-Term Assets $2.146B $2.380B
YoY Change -9.83% 51.98%
LONG-TERM ASSETS
Property, Plant & Equipment $1.622B $1.505B
YoY Change 7.77% 15.15%
Goodwill $7.045B $6.789B
YoY Change 3.77% 2.79%
Intangibles $1.172B $1.141B
YoY Change 2.72% -2.65%
Long-Term Investments $111.0M $495.0M
YoY Change -77.58% 8.08%
Other Assets $176.0M $158.0M
YoY Change 11.39% 12.06%
Total Long-Term Assets $10.72B $10.61B
YoY Change 0.99% 4.08%
TOTAL ASSETS
Total Short-Term Assets $2.146B $2.380B
Total Long-Term Assets $10.72B $10.61B
Total Assets $12.86B $12.99B
YoY Change -0.99% 10.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.404B $1.142B
YoY Change 22.94% 20.08%
Accrued Expenses $145.0M $146.0M
YoY Change -0.68% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $555.0M
YoY Change -99.64% -31.23%
Total Short-Term Liabilities $1.551B $1.843B
YoY Change -15.84% -3.2%
LONG-TERM LIABILITIES
Long-Term Debt $4.008B $4.020B
YoY Change -0.3% 26.85%
Other Long-Term Liabilities $792.0M $753.0M
YoY Change 5.18% 9.29%
Total Long-Term Liabilities $792.0M $4.773B
YoY Change -83.41% 23.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.551B $1.843B
Total Long-Term Liabilities $792.0M $4.773B
Total Liabilities $2.343B $6.616B
YoY Change -64.59% 14.82%
SHAREHOLDERS EQUITY
Retained Earnings $10.25B $8.307B
YoY Change 23.34% 5.84%
Common Stock $2.557B $2.766B
YoY Change -7.56% 2.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.894B $5.187B
YoY Change 32.91% 3.33%
Treasury Stock Shares 95.00M shares 83.00M shares
Shareholders Equity $5.899B $5.831B
YoY Change
Total Liabilities & Shareholders Equity $12.86B $12.99B
YoY Change -0.99% 10.46%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $631.0M $185.0M
YoY Change 241.08% -18.14%
Depreciation, Depletion And Amortization $100.0M $89.00M
YoY Change 12.36% 9.88%
Cash From Operating Activities $460.0M $355.0M
YoY Change 29.58% 10.59%
INVESTING ACTIVITIES
Capital Expenditures -$84.00M -$82.00M
YoY Change 2.44% -3.53%
Acquisitions $231.0M $120.0M
YoY Change 92.5%
Other Investing Activities $521.0M -$123.0M
YoY Change -523.58% 1657.14%
Cash From Investing Activities $437.0M -$205.0M
YoY Change -313.17% 122.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.567B 496.0M
YoY Change -415.93% -218.1%
NET CHANGE
Cash From Operating Activities 460.0M 355.0M
Cash From Investing Activities 437.0M -205.0M
Cash From Financing Activities -1.567B 496.0M
Net Change In Cash -670.0M 646.0M
YoY Change -203.72% -438.22%
FREE CASH FLOW
Cash From Operating Activities $460.0M $355.0M
Capital Expenditures -$84.00M -$82.00M
Free Cash Flow $544.0M $437.0M
YoY Change 24.49% 7.64%

Facts In Submission

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CY2020Q4 us-gaap Minority Interest
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Share Based Compensation
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31000000 USD
us-gaap Gain Loss On Sale Of Investments
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us-gaap Gain Loss On Sale Of Investments
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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dgx Termination Of Interest Rate Swap Agreements
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dgx Termination Of Interest Rate Swap Agreements
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Property Plant And Equipment
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170000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Repayments Of Debt
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us-gaap Repayments Of Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Minority Interest
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us-gaap Payments Of Dividends Minority Interest
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10000000 USD
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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560000000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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988000000 USD
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79000000 USD
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648000000 USD
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21000000 USD
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3000000 USD
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21000000 USD
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1500000000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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5940000000 USD
CY2021Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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78000000 USD
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82000000 USD
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us-gaap Temporary Equity Net Income
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us-gaap Dividends Common Stock Cash
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Stock Issued During Period Value Stock Options Exercised
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1910000000 USD
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5940000000 USD
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78000000 USD
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76000000 USD
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192000000 USD
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3000000 USD
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17000000 USD
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37000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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77000000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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5687000000 USD
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76000000 USD
dgx Net Income Loss Excluding Redeemable Noncontrolling Interest
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297000000 USD
us-gaap Temporary Equity Net Income
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Dividends Common Stock Cash
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151000000 USD
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9000000 USD
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1000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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13000000 USD
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31000000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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13000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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75000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5881000000 USD
CY2020Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
77000000 USD
us-gaap Nature Of Operations
NatureOfOperations
DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Background</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">    </span></div>    Quest Diagnostics Incorporated and its subsidiaries ("Quest Diagnostics" or the "Company") empower people to take action to improve health outcomes.  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.  The Company's diagnostic information services business ("DIS") provides information and insights based on an industry-leading menu of routine, non-routine and advanced clinical testing and anatomic pathology testing, and other diagnostic information services. The Company provides services to a broad range of customers, including patients, clinicians, hospitals, independent delivery networks ("IDNs"), health plans, employers, accountable care organizations ("ACOs"), and direct contract entities ("DCEs"). 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 and the Company's connectivity resources, including call centers and mobile paramedics, nurses and other health and wellness professionals. The Company is the world's leading provider of diagnostic information services. The Company provides interpretive consultation with one of the largest medical and scientific staffs in the industry. The Company's Diagnostic Solutions businesses ("DS") are the leading provider of risk assessment services for the life insurance industry and offer healthcare organizations and clinicians robust information technology solutions.
us-gaap Use Of Estimates
UseOfEstimates
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.
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
631000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
185000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1100000000 USD
us-gaap Net Income Loss
NetIncomeLoss
284000000 USD
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3000000 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
4000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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1000000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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628000000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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184000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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1096000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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283000000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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125000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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134000000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2000000 shares
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2000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1000000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135000000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.05
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.12
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.96
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.09
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
CY2021Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
4500000000 USD
CY2020Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
4600000000 USD
CY2020Q4 us-gaap Goodwill
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6873000000 USD
CY2019Q4 us-gaap Goodwill
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6619000000 USD
us-gaap Goodwill Acquired During Period
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174000000 USD
CY2020 us-gaap Goodwill Acquired During Period
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247000000 USD
us-gaap Goodwill Period Increase Decrease
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-2000000 USD
CY2020 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
7000000 USD
CY2021Q2 us-gaap Goodwill
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7045000000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
6873000000 USD
CY2021Q2 us-gaap Intangible Assets Gross Excluding Goodwill
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2025000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
853000000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
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0.62
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
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1172000000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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1967000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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800000000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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1167000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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52000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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102000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
101000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
98000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
96000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
91000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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396000000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
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936000000 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
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0.56
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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1000000 USD
CY2021Q2 us-gaap Other Nonoperating Income Expense
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322000000 USD
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
326000000 USD
us-gaap Other Nonoperating Income Expense
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CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
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0.62
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.56
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.56
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.56
CY2021Q1 dgx Stock Repurchase Program Additional Amount Authorized
StockRepurchaseProgramAdditionalAmountAuthorized
1000000000 USD
CY2021Q1 dgx Stock Repurchase Program Additional Amount Authorized
StockRepurchaseProgramAdditionalAmountAuthorized
1000000000 USD
CY2021Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1300000000 USD
CY2021Q2 us-gaap Accelerated Share Repurchases Initial Price Paid Per Share
AcceleratedShareRepurchasesInitialPricePaidPerShare
132.27
us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
1200000 shares
us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
1700000 shares
CY2021Q2 us-gaap Depreciation
Depreciation
75000000 USD
CY2020Q2 us-gaap Depreciation
Depreciation
64000000 USD
us-gaap Depreciation
Depreciation
149000000 USD
us-gaap Depreciation
Depreciation
124000000 USD
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000000 USD
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50000000 USD
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
100000000 USD
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
89000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
201000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
174000000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
38000000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
42000000 USD
us-gaap Interest Expense
InterestExpense
76000000 USD
us-gaap Interest Expense
InterestExpense
84000000 USD
CY2021Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
0 USD
CY2020Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
1000000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
0 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
2000000 USD
CY2021Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-38000000 USD
CY2020Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-41000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-76000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-82000000 USD
CY2021Q2 us-gaap Interest Paid
InterestPaid
46000000 USD
CY2020Q2 us-gaap Interest Paid
InterestPaid
55000000 USD
us-gaap Interest Paid
InterestPaid
78000000 USD
us-gaap Interest Paid
InterestPaid
103000000 USD
CY2021Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
328000000 USD
CY2020Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
2000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
335000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
20000000 USD
CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
20000000 USD
CY2020Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
48000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
20000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
48000000 USD
CY2021Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
77000000 USD
CY2020Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
75000000 USD
CY2021Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
77000000 USD
CY2020Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
75000000 USD
CY2021Q2 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
234000000 USD
CY2020Q2 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
120000000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
234000000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
251000000 USD
CY2021Q2 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
3000000 USD
CY2020Q2 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 USD
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
3000000 USD
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
20000000 USD
CY2021Q2 dgx Fair Value Of Net Assets Acquired
FairValueOfNetAssetsAcquired
231000000 USD
CY2020Q2 dgx Fair Value Of Net Assets Acquired
FairValueOfNetAssetsAcquired
120000000 USD
dgx Fair Value Of Net Assets Acquired
FairValueOfNetAssetsAcquired
231000000 USD
dgx Fair Value Of Net Assets Acquired
FairValueOfNetAssetsAcquired
231000000 USD
CY2021Q2 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 USD
CY2020Q2 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
3000000 USD
CY2021Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
231000000 USD
CY2020Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
120000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
231000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
228000000 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
33000000 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
47000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
69000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
79000000 USD
CY2020Q2 dgx Cares Act Related Expensesor Lost Revenues Amount Receivedfrom Initial Tranche
CARESActRelatedExpensesorLostRevenuesAmountReceivedfromInitialTranche
65000000 USD
CY2020Q4 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
2 claim
CY2020Q4 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
2 claim
CY2021Q2 us-gaap Malpractice Loss Contingency Accrual Undiscounted
MalpracticeLossContingencyAccrualUndiscounted
151000000 USD
CY2020Q4 us-gaap Malpractice Loss Contingency Accrual Undiscounted
MalpracticeLossContingencyAccrualUndiscounted
138000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2550000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1827000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5270000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3649000000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
533000000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
283000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1193000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
458000000 USD
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
284000000 USD
CY2020Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-28000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
250000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-85000000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
817000000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
255000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1443000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
373000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27000000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
177000000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
66000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
330000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
92000000 USD
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10000000 USD
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
18000000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
650000000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
193000000 USD
us-gaap Profit Loss
ProfitLoss
1140000000 USD
us-gaap Profit Loss
ProfitLoss
299000000 USD
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
19000000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
40000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15000000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
631000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
185000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1100000000 USD
us-gaap Net Income Loss
NetIncomeLoss
284000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2550000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1827000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5270000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3649000000 USD
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
4000000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.229
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.244
CY2021Q2 dgx Percentageof Net Revenues
PercentageofNetRevenues
1
CY2020Q2 dgx Percentageof Net Revenues
PercentageofNetRevenues
1
dgx Percentageof Net Revenues
PercentageofNetRevenues
1
dgx Percentageof Net Revenues
PercentageofNetRevenues
1
CY2021Q2 dgx Percentageof Net Accounts Receivable
PercentageofNetAccountsReceivable
1
CY2020Q4 dgx Percentageof Net Accounts Receivable
PercentageofNetAccountsReceivable
1
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.216
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.255
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
5000000 USD
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
9000000 USD
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
12000000 USD

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