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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 18, 2003
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(Date of earliest event reported)
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Exact name of registrant as specified in its charter)
DELAWARE 1-11353 13-3757370
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA 27215
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(Address of principal executive offices)
336-229-1127
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(Registrant's telephone number, including area code)
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibits
99.1 Statement of Financial Accounting Standards No. 142
disclosures of Dianon Systems, Inc. for the year ended
December 31, 2001.
SIGNATURES
Pursuant to the requirements of the Securities and
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Registrant)
By:/s/ BRADFORD T. SMITH
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Bradford T. Smith
Executive Vice President
and Secretary
Date: February 18, 2003
EXHIBIT 99.1
SFAS No. 142 Disclosures
In June 2001, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards ("SFAS") No. 142, "Goodwill and Other
Intangible Assets." SFAS No. 142 revises the accounting for goodwill
to eliminate amortization of goodwill after December 31, 2001. The
statement requires an annual assessment of goodwill for impairment and
more frequent assessments if circumstances indicate a possible
impairment. In the second quarter of 2002, Dianon Systems, Inc.
completed the initial test for impairment and determined that no
goodwill impairment had occurred. The following table provides a
reconciliation for the prior year's reported net income to adjusted
net income had SFAS No. 142 been applied as of the beginning of fiscal
2001 for the year ended December 31, 2001.
Year ended
December 31, 2001
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Income Basic Diluted
available to Earnings Earnings
common Per Per
stockholders Share Share
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Reported net income
attributed to DIANON common
stock $ 6,192,773 $ 0.77 $ 0.71
Add back amortization of
goodwill, net of income tax 110,808 0.01 0.01
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Adjusted net income
attributed to DIANON common
stock $ 6,303,581 $ 0.78 $ 0.72
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