How do you reformulate the income statement?
N P Q R S 1 2 PERCENTAGE INCOME STATEMENT 2018 2019 2017 A B C D E F G H M LABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERTATIONS (IN MILLIONS) 3 (INCOME STATEMENT) 4 2015 2016 2017 2018 2019 5 Net revenues $ 8,505.70 $9,437.20 $10,205.90 $11,333.40 $11,554.80 6 Reimbursable out-of-pocket expenses $ 174.40 $ 204.60 $ 235.50 7 Total revenues 8,680.10 $9,641.80 $10,441.40 8 Net cost of revenue $ 5,602.40 $6,256.70 $ 6,741.90 9 Reimbursable out-of-pocket expenses $ 174.40 $ 204.60 $ 235.50 10 Total cost of revenue $ 5,776.80 $6,461.30 $ 6,977.40 $ 8,302.30 11 Gross profit $ 2,903.30 $3,180.50 $ 3,464.00 $ 8,157.00 $ 3,252.50 12 Selling, general and administrative expenses $ 1,622.00 $1,630.20 $ 1,812.40 $ 1,570.90 $ 1,624.50 13 Amortization of intangibles and other assets $ 164.50 $ 179.50 $ 216.50 $ 231.70 $ 243.20 14 Restructuring and other special charges $ 113.90 $ 58.40 $ 70.90$ 48.10 S 54.60 15 Operating income $ 1,002.90 $1,312.40 $ 1,364.20 $ 1,325.70 $ 1,330.20 16 Other income (expenses): 17 Interest expense $ (274.90) $ (219.10) $ (235.10) $ (244.20) $ (240.70) 18 Equity method income, net $ 10.00 $ 7.90 $ 11.30 S 11.60 $ 9.80 19 Investment income $ 1.90 $ 1.70 $ 2.10 $ 7.50 $ 8.80 20 Other, net $ (7.80) $ 2.60 $ (7.60) $ 167.70 $ (3.20) 21 Earnings before income taxes $ 732.10 $1,105.50 $ 1,134.90 $ 1,268.30 $ 1,104.90 22 Provision for income taxes $ 294.10 $ 372.30 $ (139.10) $ 384.40 $ 280.00 23 Net earnings $ 438.00 $ 733.20 $ 1,274.00 $ 883.90 $ 824.90 24 Less: Net earnings attributable to the noncontrolling interest $ (1.10) $ (1.10) $ (5.80) $ (0.20) $ (1.10) 25 Net earnings attributable to Laboratory Corporation of America Holdings $ 436.90 $ 732.10 $ 1,268.20 $ 883.70 $ 883.70 $ 823.80 26 Basic earnings per common share $ 4.42 $ 7.14 $ 12.39 $ 8.71 $ 8.42 27 Diluted earnings per common share $ 4.34 $ 7.02 $ 12.21 $ 8.61 $ 8.35 28 N P Q R S 1 2 PERCENTAGE INCOME STATEMENT 2018 2019 2017 A B C D E F G H M LABORATORY CORPORATION OF AMERICA HOLDINGS AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERTATIONS (IN MILLIONS) 3 (INCOME STATEMENT) 4 2015 2016 2017 2018 2019 5 Net revenues $ 8,505.70 $9,437.20 $10,205.90 $11,333.40 $11,554.80 6 Reimbursable out-of-pocket expenses $ 174.40 $ 204.60 $ 235.50 7 Total revenues 8,680.10 $9,641.80 $10,441.40 8 Net cost of revenue $ 5,602.40 $6,256.70 $ 6,741.90 9 Reimbursable out-of-pocket expenses $ 174.40 $ 204.60 $ 235.50 10 Total cost of revenue $ 5,776.80 $6,461.30 $ 6,977.40 $ 8,302.30 11 Gross profit $ 2,903.30 $3,180.50 $ 3,464.00 $ 8,157.00 $ 3,252.50 12 Selling, general and administrative expenses $ 1,622.00 $1,630.20 $ 1,812.40 $ 1,570.90 $ 1,624.50 13 Amortization of intangibles and other assets $ 164.50 $ 179.50 $ 216.50 $ 231.70 $ 243.20 14 Restructuring and other special charges $ 113.90 $ 58.40 $ 70.90$ 48.10 S 54.60 15 Operating income $ 1,002.90 $1,312.40 $ 1,364.20 $ 1,325.70 $ 1,330.20 16 Other income (expenses): 17 Interest expense $ (274.90) $ (219.10) $ (235.10) $ (244.20) $ (240.70) 18 Equity method income, net $ 10.00 $ 7.90 $ 11.30 S 11.60 $ 9.80 19 Investment income $ 1.90 $ 1.70 $ 2.10 $ 7.50 $ 8.80 20 Other, net $ (7.80) $ 2.60 $ (7.60) $ 167.70 $ (3.20) 21 Earnings before income taxes $ 732.10 $1,105.50 $ 1,134.90 $ 1,268.30 $ 1,104.90 22 Provision for income taxes $ 294.10 $ 372.30 $ (139.10) $ 384.40 $ 280.00 23 Net earnings $ 438.00 $ 733.20 $ 1,274.00 $ 883.90 $ 824.90 24 Less: Net earnings attributable to the noncontrolling interest $ (1.10) $ (1.10) $ (5.80) $ (0.20) $ (1.10) 25 Net earnings attributable to Laboratory Corporation of America Holdings $ 436.90 $ 732.10 $ 1,268.20 $ 883.70 $ 883.70 $ 823.80 26 Basic earnings per common share $ 4.42 $ 7.14 $ 12.39 $ 8.71 $ 8.42 27 Diluted earnings per common share $ 4.34 $ 7.02 $ 12.21 $ 8.61 $ 8.35 28
