2. Select 3 ratios that were discussed in Appendix D. (NOTE: A complete listing of the ratios is located in Exhibit D-8 which includes the formulas and purpose of each ratio. 3. Calculate these ratios for each of the years provided in the comparative financial statements (usually 2-3 years of information is provided). 4. Share your calculations and any insights/thoughts from your analysis of these ratios including trends (i.e., is the company performing better or worse relative to the previous year). Dec. 31, 2019 Dec. 31, 2018 $ 1,192 $ 135 1,063 1,012 123 99 112 144 CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Assets Cash and cash equivalents Accounts receivable, net of allowance for doubtful accounts of $15 as of both December 31, 2019 and 2018 Inventories Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Operating lease right-of-use assets Goodwill Intangible assets, net Investments in equity method investees Other assets Total assets Liabilities and Stockholders' Equity Accounts payable and accrued expenses Current portion of long-term debt ASH Current portion of long-term operating lease liabilities Total current liabilities Long-term debt EQUITY Long-term operating lease liabilities Other liabilities ements Commitments and contingencies Redeemable noncontrolling interest Quect Dianoctice stockholdere! 2,490 1,453 518 6,619 1,121 482 160 12,843 1,390 1,288 0 6,563 1,207 436 119 11,003 1,041 804 1,021 464 145 0 1,990 3,966 413 711 1,485 3,429 0 745 76 77 160 12,843 119 11,003 1,041 804 1,021 464 145 0 1,990 3,966 413 711 1,485 3,429 0 745 76 77 Other assets Total assets Liabilities and Stockholders' Equity Accounts payable and accrued expenses Current portion of long-term debt Current portion of long-term operating lease liabilities Total current liabilities Long-term debt Long-term operating lease liabilities Other liabilities Commitments and contingencies Redeemable noncontrolling interest Quest Diagnostics stockholders' equity: Common stock, par value $0.01 per share; 600 shares authorized as of both December 31, 2019 and 2018; 217 shares issued as of both December 31, 2019 and 2018 Additional paid-in capital Retained earnings Accumulated other comprehensive (loss) income Treasury stock, at cost; 84 shares and 82 shares as of December 31, 2019 and 2018, respectively Total Quest Diagnostics stockholders' equity Noncontrolling interests Total stockholders' equity Total liabilities and stockholders' equity N 2 2,722 8,174 2,667 7,602 (39) (59) (5,218) (4,996) 5,641 5,216 46 5,687 $ 12,843 51 5,267 $ 11,003 9 2 6 CONSOLIDATED STATEMENTS OF 12 Months Ended CASH FLOWS - USD ($) $ in Millions Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017 Cash flows from operating activities: Net income $ 906 $ 788 $ 824 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 329 309 270 Provision for doubtful accounts 11 6 8 Deferred income tax provision 15 73 Stock-based compensation expense 56 61 79 (Gains) losses on sale of property, plant and equipment (70) 6 2 Other, net (39) (8) Changes in operating assets and liabilities: Accounts receivable (63) (65) 9 Accounts payable and accrued expenses 73 (19) (8) Income taxes payable 29 16 Other assets and liabilities, net (4) 31 (26) Net cash provided by operating activities 1,243 1,200 1,175 Cash flows from investing activities: Business acquisitions, net of cash (58) (421) (581) acquired Proceeds from disposition of business 2 QUITY Proceeds from disposition of property, 91 2 plant, and equipment nents Capital expenditures (400) (383) (252) (Increase) decrease in investments and 1 other assets Net cash used in investing activities (411) (801) (830) Cash flows from financing activities: Proceeds from borrowings 2,281 2,090 205 Repayments of debt (1,449) (1,966) (182) Purchases of treasury stock (353) (322) (465) 119 Exercise of stock options 99 130 4 SH 0 1 1 here to search O C
