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	Six Months Ended June 30,
	2020		2019
Supplemental schedule of cash flow information:
Cash paid during period for:
Interest	$	111.5	$	123.8
Income taxes, net of refunds	15.1		119.6
Disclosure of non-cash financing and investing activities:

Conversion of zero-coupon convertible debt	—		7.2

Change in accrued property, plant and equipment	(17.1)		(12.5)
Floating rate secured note receivable due 2022 from the sale of CRP	—		110.0

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION


	Six Months Ended June 30,
	2020		2019
Supplemental schedule of cash flow information:
Cash paid during period for:
Interest	$	111.5	$	123.8
Income taxes, net of refunds	15.1		119.6
Disclosure of non-cash financing and investing activities:

Conversion of zero-coupon convertible debt	—		7.2

Change in accrued property, plant and equipment	(17.1)		(12.5)
Floating rate secured note receivable due 2022 from the sale of CRP	—		110.0

SUPPLEMENTAL CASH FLOW INFORMATION Tabular Information

3 Months Ended

Jun. 30, 2020


	Six Months Ended June 30,
	2020		2019
Supplemental schedule of cash flow information:
Cash paid during period for:
Interest	$	111.5	$	123.8
Income taxes, net of refunds	15.1		119.6
Disclosure of non-cash financing and investing activities:

Conversion of zero-coupon convertible debt	—		7.2

Change in accrued property, plant and equipment	(17.1)		(12.5)
Floating rate secured note receivable due 2022 from the sale of CRP	—		110.0

Restructuring and Related Activities [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION


	Six Months Ended June 30,
	2020		2019
Supplemental schedule of cash flow information:
Cash paid during period for:
Interest	$	111.5	$	123.8
Income taxes, net of refunds	15.1		119.6
Disclosure of non-cash financing and investing activities:

Conversion of zero-coupon convertible debt	—		7.2

Change in accrued property, plant and equipment	(17.1)		(12.5)
Floating rate secured note receivable due 2022 from the sale of CRP	—		110.0

SUPPLEMENTAL CASH FLOW INFORMATION Description Information - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Debt Conversion [Line Items]
Decrease in Capital Expenditures Incurred but not yet Paid	$ (17.1)
Capital Expenditures Incurred but Not yet Paid		$ (12.5)
Notes Receivable, Fair Value Disclosure	0.0	110.0
Cash paid during period for:
Interest	111.5	123.8
Income taxes, net of refunds	15.1	119.6
Disclosure of non-cash financing and investing activities:
Conversion of zero-coupon convertible debt	$ 0.0	$ 7.2

BASIS OF FINANCIAL STATEMENT PRESENTATION	3 Months Ended
BASIS OF FINANCIAL STATEMENT PRESENTATION	Jun. 30, 2020
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	BASIS OF FINANCIAL STATEMENT PRESENTATION Laboratory Corporation of America^® Holdings together with its subsidiaries (the Company) is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. The Company’s mission is to improve health and improve lives by delivering world-class diagnostic solutions, bringing innovative medicines to patients faster and using technology to provide better care. The Company serves a broad range of customers, including managed care organizations (MCOs), biopharmaceutical companies, governmental agencies, physicians and other healthcare providers (e.g., physician assistants and nurse practitioners, generally referred to herein as physicians), hospitals and health systems, employers, patients and consumers, contract research organizations (CROs), and independent clinical laboratories. The Company reports its business in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development (CDD). For further financial information about these segments, see Note 16 Business Segment Information to the Condensed Consolidated Financial Statements. During the three months ended June 30, 2020, LCD and CDD contributed approximately 61% and 39% respectively, of revenues to the Company. During the six months ended June 30, 2020, LCD and CDD contributed approximately 60% and 40%, respectively, of revenues to the Company. The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries for which it exercises control. Long-term investments in affiliated companies in which the Company exercises significant influence, but which it does not control, are accounted for using the equity method. Investments in which the Company does not exercise significant influence (generally, when the Company has an investment of less than 20.0% and no representation on the investee's board of directors) are accounted for at fair value or at cost minus impairment adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer for those investments that do not have readily determinable fair values. All significant inter-company transactions and accounts have been eliminated. The Company does not have any significant variable interest entities or special purpose entities whose financial results are not included in the condensed consolidated financial statements. The financial statements of the Company's operating foreign subsidiaries are measured using the local currency as the functional currency. Assets and liabilities are translated at exchange rates as of the balance sheet date. Revenues and expenses are translated at average monthly exchange rates prevailing during the period. Resulting translation adjustments are included in “Accumulated other comprehensive income.” The accompanying condensed consolidated financial statements of the Company are unaudited. In the opinion of management, all adjustments necessary for a fair statement of results of operations, cash flows, and financial position have been made. Except as otherwise disclosed, all such adjustments are of a normal recurring nature. Interim results are not necessarily indicative of results for a full year. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. The condensed consolidated financial statements and notes are presented in accordance with the rules and regulations of the United States (U.S.) Securities and Exchange Commission (SEC) and do not contain certain information included in the Company’s 2019 Annual Report on Form 10-K (Annual Report). Therefore, these interim statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report. Recently Adopted Guidance In June 2016, the FASB issued a new accounting standard intended to provide financial statement users with more decision-useful information about expected credit losses and other commitments to extend credit held by the reporting entity. The standard replaces the incurred loss impairment methodology in current generally accepted accounting principles (GAAP) with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company recorded an opening retained earnings adjustment of $7.0 with the adoption of this standard on January 1, 2020. In August 2018, the FASB issued a new accounting standard to reduce, modify, and add to the disclosure requirements on fair value measurements. The Company adopted this standard effective January 1, 2020. The adoption of this standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued a new accounting standard to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this standard effective January 1, 2020. The adoption of this standard did not have a material impact on the consolidated financial statements. New Accounting Pronouncements In August 2018, the FASB issued a new accounting standard to reduce, modify, and add to the disclosure requirements on defined benefit pension and other postretirement plans. The standard is effective on January 1, 2021, with early adoption permitted. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements. In December 2019, the FASB issued a new accounting standard to simplify accounting for income taxes and remove, modify, and add to the disclosure requirements of income taxes. The standard is effective January 1, 2021, with early adoption permitted. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements. In January 2020, the FASB issued a new accounting standard to clarify the interaction of the accounting for equity securities and investments accounted for under the equity method of accounting and the accounting for certain forward contracts and purchased options. The standard is effective January 1, 2021. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements. In March 2020, the FASB issued a new accounting standard to provide optional expedients and exceptions if certain conditions are met for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. The expedients and exceptions in the standard are effective between March 12, 2020 and December 31, 2022. The Company did not elect to apply any of the expedients or exceptions for the period ended June 30, 2020 and is currently evaluating the impact this new standard will have on the consolidated financial statements. Novel Coronavirus (COVID-19) Financial Statement Impact In March 2020, COVID-19 was declared a pandemic. COVID-19 has had and continues to have an extensive impact on the global health and economic environment. Given the continued unpredictability of the COVID-19 pandemic and the corresponding government restrictions and customer behavior, there are a wide-range of feasible financial results for 2020. While the Company's Base Business continues to be negatively impacted by the COVID-19 pandemic, the Company's outlook has improved across the enterprise. Base Business includes the Company's business operations except for molecular and serology COVID-19 testing (COVID-19 Testing). In LCD, demand for its Base Business continues to be below the Company's historical levels; however, the Company's Base Business has been steadily recovering from its trough in April, while at the same time COVID-19 Testing continues to grow and the Company continues to increase capacity for its COVID-19 molecular and antibody tests. In CDD, while the pandemic is expected to continue to negatively impact its business, this impact is expected to subside throughout the year as CDD continues to work on projects supporting global vaccine and treatment development, with additional support from COVID-19 Testing. As a result of the impact of the COVID-19 pandemic, during the six months ended June 30, 2020, the Company recorded goodwill and other asset impairment charges of $437.4: $426.4 within CDD and $11.0 within LCD, all of which were recorded in the three months ended March 31, 2020. See Note 6 Goodwill and Intangible Assets for discussion of goodwill and intangible asset impairment and Note 2 Revenue for the discussion of credit losses and additional price concessions. The Company also wrote-off or wrote down certain of the Company's investments by $25.4 due to the impact of COVID-19, $7.1 included in Equity method earnings (loss), net (recorded in the three months ended March 31, 2020), and $18.3 included in Other, net ($13.1 recorded during the three months ended March 31, 2020 and $5.2 recorded during the three months ended June 30, 2020). In April 2020, the Company received cash payments of approximately $55.9 from the Public Health and Social Services Emergency Fund for provider relief (Relief Fund) that was appropriated by Congress to the Department of Health and Human Services (HHS) in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Upon receiving and satisfying the terms and conditions associated with the distributed funds, the Company accounted for the transaction by applying the guidance in ASC 450-30 Gain Contingencies, and recorded these funds in Other, net non-operating income in the Consolidated Statement of Operations as of June 30, 2020. The Company instituted numerous actions to help mitigate the financial impact from the COVID-19 pandemic, which included furloughs, reduced hours, and the suspension of discretionary merit adjustments and 401(k) plan contributions in the United States (U.S.). In response to its improved business operations, the Company has been rapidly resuming regular work schedules and is proceeding with merit adjustments and will retroactively reinstate 401(k) plan contributions in the U.S. Use of Estimates The extent to which the COVID-19 pandemic has and will impact the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of the COVID-19 pandemic, the extent to which it will impact worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of June 30, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s implicit price concessions and credit losses, equity investments, notes receivable and the carrying value of goodwill and other long-lived assets. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in additional material impacts to the Company’s consolidated financial statements in future reporting periods.
Basis of Presentation and Significant Accounting Policies [Text Block]	BASIS OF FINANCIAL STATEMENT PRESENTATION Laboratory Corporation of America^® Holdings together with its subsidiaries (the Company) is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. The Company’s mission is to improve health and improve lives by delivering world-class diagnostic solutions, bringing innovative medicines to patients faster and using technology to provide better care. The Company serves a broad range of customers, including managed care organizations (MCOs), biopharmaceutical companies, governmental agencies, physicians and other healthcare providers (e.g., physician assistants and nurse practitioners, generally referred to herein as physicians), hospitals and health systems, employers, patients and consumers, contract research organizations (CROs), and independent clinical laboratories. The Company reports its business in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development (CDD). For further financial information about these segments, see Note 16 Business Segment Information to the Condensed Consolidated Financial Statements. During the three months ended June 30, 2020, LCD and CDD contributed approximately 61% and 39% respectively, of revenues to the Company. During the six months ended June 30, 2020, LCD and CDD contributed approximately 60% and 40%, respectively, of revenues to the Company. The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries for which it exercises control. Long-term investments in affiliated companies in which the Company exercises significant influence, but which it does not control, are accounted for using the equity method. Investments in which the Company does not exercise significant influence (generally, when the Company has an investment of less than 20.0% and no representation on the investee's board of directors) are accounted for at fair value or at cost minus impairment adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer for those investments that do not have readily determinable fair values. All significant inter-company transactions and accounts have been eliminated. The Company does not have any significant variable interest entities or special purpose entities whose financial results are not included in the condensed consolidated financial statements. The financial statements of the Company's operating foreign subsidiaries are measured using the local currency as the functional currency. Assets and liabilities are translated at exchange rates as of the balance sheet date. Revenues and expenses are translated at average monthly exchange rates prevailing during the period. Resulting translation adjustments are included in “Accumulated other comprehensive income.” The accompanying condensed consolidated financial statements of the Company are unaudited. In the opinion of management, all adjustments necessary for a fair statement of results of operations, cash flows, and financial position have been made. Except as otherwise disclosed, all such adjustments are of a normal recurring nature. Interim results are not necessarily indicative of results for a full year. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. The condensed consolidated financial statements and notes are presented in accordance with the rules and regulations of the United States (U.S.) Securities and Exchange Commission (SEC) and do not contain certain information included in the Company’s 2019 Annual Report on Form 10-K (Annual Report). Therefore, these interim statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report.

EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net earnings attributable to Laboratory Corporation of America Holdings by the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed by dividing net earnings including the impact of dilutive adjustments by the weighted average number of common shares outstanding plus potentially dilutive shares, as if they had been issued at the earlier of the date of issuance or the beginning of the period presented. Potentially dilutive common shares result primarily from the Company’s outstanding stock options, restricted stock awards, restricted stock units, and performance share awards.

The following represents a reconciliation of basic earnings (loss) per share to diluted earnings (loss) per share:


	Three Months Ended June 30,																		Six Months Ended June 30,
	2020								2019									2020			2019
	Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount		Earnings (Loss)		Shares	Per Share Amount		Earnings		Shares	Per Share Amount
Basic earnings (loss) per share:
Net earnings (loss)	$	231.6	97.3	$	2.38	$	190.4	98.1	$	1.94	$	(85.6)	97.2	$	(0.88)	$	376.0	98.4	$	3.82
Dilutive effect of employee stock options and awards	—		0.4			—		0.7			—		—			—		0.7


Net earnings (loss) including impact of dilutive adjustments ^(a)	$	231.6	97.7	$	2.37	$	190.4	98.8	$	1.93	$	(85.6)	97.2	$	(0.88)	$	376.0	99.1	$	3.79

^(a)Due to the Company's net loss for the six months ended June 30, 2020, diluted earnings (loss) per share is the same as basic earnings (loss) per share.

Diluted earnings per share represent the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. These potential shares include dilutive stock options and unissued restricted stock awards. The following table summarizes the potential common shares not included in the computation of diluted earnings per share because their impact would have been antidilutive:


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
Employee stock options and awards	0.8	0.2	1.3	0.2

RESTRUCTURING AND OTHER SPECIAL CHARGES

3 Months Ended

Jun. 30, 2020

Restructuring and Related Activities Disclosure [Text Block]

RESTRUCTURING AND OTHER CHARGES

During the six months ended June 30, 2020, the Company recorded net restructuring and other charges of $31.8: $11.8 within LCD and $20.0 within CDD. The charges were comprised of $10.5 related to severance and other personnel costs, $8.0 for a CDD lab facility and equipment impairments, and $20.0 in facility closures, impairment of operating lease right-of use assets and general integration activities. The charges were offset by the reversal of previously established liability of $1.0 and $5.7 in unused severance costs and facility-related costs, respectively.

During the six months ended June 30, 2019, the Company recorded net restructuring and other charges of $34.2: $16.1 within LCD and $18.1 within CDD. The charges were comprised of $20.3 related to severance and other personnel costs and $13.5 in costs associated with facility closures, impairment of operating lease right-of-use assets and general integration initiatives. The charges were increased by the adjustment of previously established reserves of $0.4 in severance reserves.

The following represents the Company’s restructuring reserve activities for the period indicated:


	LCD						CDD
	Severance and Other Employee Costs		Facility Costs		Severance and Other Employee Costs		Facility Costs		Total
Balance as of December 31, 2019	$	0.5	$	2.7	$	5.5	$	4.7	$	13.4

Restructuring charges	2.7		3.5		7.8		6.4		20.4
Adjustments to prior restructuring accruals	(0.1)		(0.4)		(0.9)		(5.3)		(6.7)
Impairment of lab facility and equipment	—		—		—		8.0		8.0
Impairment of operating lease right-of-use asset	—		6.1		—		4.0		10.1
Cash payments and other adjustments	(3.0)		(9.9)		(3.8)		(15.5)		(32.2)
Balance as of June 30, 2020	$	0.1	$	2.0	$	8.6	$	2.3	$	13.0
Current									$	9.4
Non-current									3.6
									$	13.0

DEBT

3 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

DEBT

Short-term borrowings and the current portion of long-term debt at June 30, 2020, and December 31, 2019, consisted of the following:


	June 30, 2020		December 31, 2019

4.625% senior notes due 2020	$	414.6	$	413.7
2019 Term Loan	375.0		—
Debt issuance costs	(1.0)		(0.7)
Current portion of note payable	2.2		2.2
Total short-term borrowings and current portion of long-term debt	$	790.8	$	415.2

Long-term debt at June 30, 2020, and December 31, 2019, consisted of the following:


	June 30, 2020		December 31, 2019



3.20% senior notes due 2022	$	500.0	$	500.0
3.75% senior notes due 2022	500.0		500.0
4.00% senior notes due 2023	300.0		300.0
3.25% senior notes due 2024	600.0		600.0
3.60% senior notes due 2025	1,000.0		1,000.0
3.60% senior notes due 2027	600.0		600.0
4.70% senior notes due 2045	900.0		900.0
2.30% senior notes due 2024	400.0		400.0
2.95% senior notes due 2029	650.0		650.0

2019 Term Loan	—		375.0

Debt issuance costs	(39.8)		(42.2)

Note payable	6.4		7.0
Total long-term debt	$	5,416.6	$	5,789.8

Credit Facilities

On June 3, 2019, the Company entered into a new $850.0 2019 term loan facility that matures on June 3, 2021. The 2019 term loan facility accrues interest at a per annum rate equal to, at the Company's election, either a LIBOR rate plus a margin ranging from 0.55% to 1.175%, or a base rate determined according to a prime rate or federal funds rate plus a margin ranging from 0.0% to 0.175%. The 2019 term loan balance at June 30, 2020 and December 31, 2019, was $375.0 and $375.0, respectively. As of June 30, 2020, the effective interest rate on the 2019 term loan was 0.98%.

The Company also maintains a senior revolving credit facility consisting of a five-year facility in the principal amount of up to $1,000.0, with the option of increasing the facility by up to an additional $350.0, subject to the agreement of one or more new or existing lenders to provide such additional amounts and certain other customary conditions. The revolving credit facility also provides for a subfacility of up to $100.0 for swing line borrowings and a subfacility of up to $150.0 for issuances of letters of credit. The Company is required to pay a facility fee on the aggregate commitments under the revolving credit facility, at a per annum rate ranging from 0.00% to 0.25%. The revolving credit facility is permitted to be used for general corporate purposes, including working capital, capital expenditures, funding of share repurchases and certain other payments, acquisitions and other investments. There were no balances outstanding on the Company's current revolving credit facility at June 30, 2020, and December 31, 2019. As of June 30, 2020, the effective interest rate on the revolving credit facility was 1.14%. The credit facility expires on September 15, 2022.

Under the term loan facility and the revolving credit facility, the Company is subject to negative covenants limiting subsidiary indebtedness and certain other covenants typical for investment grade-rated borrowers, and the Company is required to maintain certain leverage ratios. In May 2020, the Company entered into amendments to its term loan facility and its revolving credit facility, in each case to, among other things, increase the maximum leverage ratio covenant to 5.0x debt to last twelve months EBITDA for each of the three periods ended June 30, September 30, and December 31, 2020, 4.5x for period ended March 31, 2021 and then reverts back to 4.0x. The Company was in compliance with all covenants in the term loan facility and the revolving credit facility at June 30, 2020 and expects that it will remain in compliance with its existing debt covenants for the next twelve months.

The Company's availability of $997.0 at June 30, 2020, under its revolving credit facility reflects a reduction equivalent to the amount of the Company's outstanding letters of credit.

Liquidity

During the fourth quarter of 2020, $412.2 of the Company's senior notes mature. The Company has elected to redeem these notes in August 2020 at par using from available cash on hand and borrowings under its revolving credit facility.

At June 30, 2020, the Company had $557.0 of cash and $997.0 of available borrowings under its revolving credit facility, which does not mature until 2022, and the Company was in compliance with all of its debt covenants. In May 2020, in order to obtain increased financial covenant flexibility, the Company and its lenders entered into amendments to the term loan facility and the revolving credit facility to increase the maximum leverage ratio to 5.0x debt to last twelve months EBITDA for the three month periods ending June 30, September 30 and December 31, 2020 and 4.5x for the period ended March 31, 2021. The amendments also provide that during any period in which the Company's leverage ratio exceeds 4.5x debt to last twelve months

EBITDA (i) the Company will be prohibited from consummating share repurchases, subject to limited exceptions, (ii) borrowings under the revolving credit facility will accrue interest at a per annum rate equal to, at the Company's election, either a LIBOR rate plus a margin of 1.25% or a base rate plus a margin of 0.25%, (iii) the facility fee that the Company is required to pay on the aggregate commitments under the revolving credit facility will be 0.25% per annum, and (iv) borrowings under the term loan facility will accrue interest at a per annum rate equal to, at the Company's election, either a LIBOR rate plus a margin of 1.175% or a base rate plus a margin of 0.175%.

The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and the effects such impacts will have on the Company's liquidity.The significance of the impact on the Company’s business is not yet certain and depends on numerous evolving factors that the Company may not be able to accurately predict.

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY

3 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Changes in common shares issued and held in treasury

The changes in common shares issued are summarized below:


			Issued and Outstanding
Common shares at December 31, 2019			97.2
Common stock issued under employee stock plans			0.6


Retirement of common stock			(0.5)

Common shares at June 30, 2020			97.3

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The components of accumulated other comprehensive earnings (loss) are as follows:


	Foreign Currency Translation Adjustments		Net Benefit Plan Adjustments		Accumulated Other Comprehensive Earnings (Loss)
Balance as of December 31, 2019	$	(285.4)	$	(87.0)	$	(372.4)
Current year adjustments	(80.5)		5.4		(75.1)

Tax effect of adjustments	—		(1.5)		(1.5)
Balance as of June 30, 2020	$	(365.9)	$	(83.1)	$	(449.0)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Preferred Stock and Common Shareholders' Equity

PREFERRED STOCK AND COMMON SHAREHOLDERS’ EQUITY

The Company is authorized to issue up to 265.0 shares of common stock, par value $0.10 per share. The Company is authorized to issue up to 30.0 shares of preferred stock, par value $0.10 per share. There were no preferred shares outstanding as of June 30, 2020 and December 31, 2019.

The changes in common shares issued are summarized below:


			Issued and Outstanding
Common shares at December 31, 2019			97.2
Common stock issued under employee stock plans			0.6


Retirement of common stock			(0.5)

Common shares at June 30, 2020			97.3

Share Repurchase Program

At the end of 2019, the Company had outstanding authorization from the board of directors to purchase $900.0 of Company common stock. During three months ended March 31, 2020, the Company purchased 0.6 shares of its common stock. When the Company repurchases shares, the amount paid to repurchase the shares in excess of the par or stated value is allocated to additional paid-in-capital unless subject to limitation or the balance in additional paid-in-capital is exhausted. Remaining amounts are recognized as a reduction in retained earnings. As of June 30, 2020, the Company had outstanding authorization from the board of directors to purchase up to $800.0 of the Company's common stock. The repurchase authorization has no expiration date; however, the Company temporarily suspended stock repurchases beginning in March 2020 due to the impact of the COVID-19 pandemic.

Accumulated Other Comprehensive Earnings

The components of accumulated other comprehensive earnings (loss) are as follows:


	Foreign Currency Translation Adjustments		Net Benefit Plan Adjustments		Accumulated Other Comprehensive Earnings (Loss)
Balance as of December 31, 2019	$	(285.4)	$	(87.0)	$	(372.4)
Current year adjustments	(80.5)		5.4		(75.1)

Tax effect of adjustments	—		(1.5)		(1.5)
Balance as of June 30, 2020	$	(365.9)	$	(83.1)	$	(449.0)

INCOME TAXES	3 Months Ended
INCOME TAXES	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company does not recognize a tax benefit unless it concludes that it is more likely than not that the benefit will be sustained on audit by the taxing authority based solely on the technical merits of the associated tax position. If the recognition threshold is met, the Company recognizes a tax benefit measured at the largest amount of the tax benefit that it believes is greater than 50% likely to be realized. The gross unrecognized income tax benefits were $40.4 and $31.7 at June 30, 2020 and December 31, 2019, respectively. It is anticipated that the amount of the unrecognized income tax benefits will change within the next 12 months; however, these changes are not expected to have a significant impact on the results of operations, cash flows or the financial position of the Company. As of June 30, 2020 and December 31, 2019, $40.4 and $31.7, respectively, are the approximate amounts of gross unrecognized income tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. The Company recognizes interest and penalties related to unrecognized income tax benefits in income tax expense. Accrued interest and penalties related to uncertain tax positions totaled $8.2 and $5.5 as of June 30, 2020 and December 31, 2019, respectively. The Company has substantially concluded all U.S. federal income tax matters for years through 2015. Substantially all material state and local and foreign income tax matters have been concluded through 2014 and 2010, respectively. The Company has various state and foreign income tax examinations ongoing throughout the year. The Company believes adequate provisions have been recorded related to all open tax years.

Pension And Postretirement Plans

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is involved from time to time in various claims and legal actions, including arbitrations, class actions, and other litigation (including those described in more detail below), arising in the ordinary course of business. Some of these actions involve claims that are substantial in amount. These matters include, but are not limited to, intellectual property disputes; commercial and contract disputes; professional liability claims; employee-related matters; and inquiries, including subpoenas and other civil investigative demands, from governmental agencies, Medicare or Medicaid payers and MCOs reviewing billing practices or requesting comment on allegations of billing irregularities that are brought to their attention through billing audits or third parties. The Company receives civil investigative demands or other inquiries from various governmental bodies in the ordinary course of its business. Such inquiries can relate to the Company or other parties, including physicians and other health care providers. The Company works cooperatively to respond to appropriate requests for information. The Company also is named from time to time in suits brought under the qui tam provisions of the False Claims Act and comparable state laws. These suits typically allege that the Company has made false statements and/or certifications in connection with claims for payment from U.S. federal or state healthcare programs. The suits may remain under seal (hence, unknown to the Company) for some time while the government decides whether to intervene on behalf of the qui tam plaintiff. Such claims are an inevitable part of doing business in the healthcare field today. The Company believes that it is in compliance in all material respects with all statutes, regulations, and other requirements applicable to its commercial laboratory operations and drug development support services. The healthcare diagnostics and drug development industries are, however, subject to extensive regulation, and the courts have not interpreted many of the applicable statutes and regulations. Therefore, the applicable statutes and regulations could be interpreted or applied by a prosecutorial, regulatory, or judicial authority in a manner that would adversely affect the Company. Potential sanctions for violation of these statutes and regulations include significant civil and criminal penalties, fines, the loss of various licenses, certificates and authorizations, additional liabilities from third-party claims, and/or exclusion from participation in government programs. Many of the current claims and legal actions against the Company are in preliminary stages, and many of these cases seek an indeterminate amount of damages. The Company records an aggregate legal reserve, which is determined using calculations based on historical loss rates and assessment of trends experienced in settlements and defense costs. In accordance with FASB Accounting Standards Codification Topic 450 “Contingencies,” the Company establishes reserves for judicial, regulatory, and arbitration matters outside the aggregate legal reserve if and when those matters present loss contingencies that are both probable and estimable and would exceed the aggregate legal reserve. When loss contingencies are not both probable and estimable, the Company does not establish separate reserves. The Company is unable to estimate a range of reasonably probable loss for the proceedings described in more detail below in which damages either have not been specified or, in the Company's judgment, are unsupported and/or exaggerated and (i) the proceedings are in early stages; (ii) there is uncertainty as to the outcome of pending appeals or motions; (iii) there are significant factual issues to be resolved; and/or (iv) there are novel legal issues to be presented. For these proceedings, however, the Company does not believe, based on currently available information, that the outcomes will have a material adverse effect on the Company's financial condition, though the outcomes could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. As previously reported, the Company responded to an October 2007 subpoena from the U.S. Department of Health & Human Services Office of Inspector General's regional office in New York. On August 17, 2011, the U.S. District Court for the Southern District of New York unsealed a False Claims Act lawsuit, United States of America ex rel. NPT Associates v. Laboratory Corporation of America Holdings, which alleges that the Company offered UnitedHealthcare kickbacks in the form of discounts in return for Medicare business. The Plaintiff's Third Amended Complaint further alleges that the Company's billing practices violated the False Claims Acts of 14 states and the District of Columbia. The lawsuit seeks actual and treble damages and civil penalties for each alleged false claim, as well as recovery of costs, attorney's fees, and legal expenses. Neither the U.S. government nor any state government has intervened in the lawsuit. The Company's Motion to Dismiss was granted in October 2014 and Plaintiff was granted the right to replead. On January 11, 2016, Plaintiff filed a motion requesting leave to file an amended complaint under seal and to vacate the briefing schedule for the Company's Motion to Dismiss, while the government reviews the amended complaint. The Court granted the motion and vacated the briefing dates. Plaintiff then filed the Amended Complaint under seal. The Company will vigorously defend the lawsuit. In addition, the Company has received various other subpoenas since 2007 related to Medicaid billing. In October 2009, the Company received a subpoena from the State of Michigan Department of Attorney General seeking documents related to its billing to Michigan Medicaid. The Company cooperated with this request. In October 2013, the Company received a Civil Investigative Demand from the State of Texas Office of the Attorney General requesting documents related to its billing to Texas Medicaid. The Company cooperated with this request. On October 5, 2018, the Company received a second Civil Investigative Demand from the State of Texas Office of the Attorney General requesting documents related to its billing to Texas Medicaid. The Company is cooperating with this request. On August 31, 2015, the Company was served with a putative class action lawsuit, Patty Davis v. Laboratory Corporation of America, et al., filed in the Circuit Court of the Thirteenth Judicial Circuit for Hillsborough County, Florida. The complaint alleges that the Company violated the Florida Consumer Collection Practices Act by billing patients who were collecting benefits under the Workers' Compensation Statutes. The lawsuit seeks injunctive relief and actual and statutory damages, as well as recovery of attorney's fees and legal expenses. In April 2017, the Circuit Court granted the Company’s Motion for Judgment on the Pleadings. The Plaintiff appealed the Circuit Court’s ruling to the Florida Second District Court of Appeal. On October 16, 2019, the Court of Appeal reversed the Circuit Court’s dismissal, but certified a controlling issue of Florida law to the Florida Supreme Court. On February 17, 2020, the Florida Supreme Court accepted jurisdiction of the lawsuit. The Company will vigorously defend the lawsuit. In December 2014, the Company received a Civil Investigative Demand issued pursuant to the U.S. False Claims Act from the U.S. Attorney's Office for South Carolina, which requested information regarding alleged remuneration and services provided by the Company to physicians who also received draw and processing/handling fees from competitor laboratories Health Diagnostic Laboratory, Inc. (HDL) and Singulex, Inc. (Singulex). The Company cooperated with the request. On April 4, 2018, the U.S. District Court for the District of South Carolina, Beaufort Division, unsealed a False Claims Act lawsuit, United States of America ex rel. Scarlett Lutz, et al. v. Laboratory Corporation of America Holdings, which alleges that the Company's financial relationships with referring physicians violate federal and state anti-kickback statutes. The Plaintiffs' Fourth Amended Complaint further alleges that the Company conspired with HDL and Singulex in violation of the Federal False Claims Act and the California and Illinois insurance fraud prevention acts by facilitating HDL's and Singulex's offers of illegal inducements to physicians and the referral of patients to HDL and Singulex for laboratory testing. The lawsuit seeks actual and treble damages and civil penalties for each alleged false claim, as well as recovery of costs, attorney's fees, and legal expenses. Neither the U.S. government nor any state government has intervened in the lawsuit. The Company filed a Motion to Dismiss seeking the dismissal of the claims asserted under the California and Illinois insurance fraud prevention statutes, the conspiracy claim, the reverse False Claims Act claim, and all claims based on the theory that the Company performed medically unnecessary testing. On January 16, 2019, the Court entered an order granting in part and denying in part the Motion to Dismiss. The Court dismissed the Plaintiffs' claims based on the theory that the Company performed medically unnecessary testing, the claims asserted under the California and Illinois insurance fraud prevention statutes, and the reverse False Claims Act claim. The Court denied the Motion to Dismiss as to the conspiracy claim. The Company will vigorously defend the lawsuit. Prior to the Company's acquisition of Sequenom, Inc. (Sequenom) between August 15, 2016 and August 24, 2016, six putative class-action lawsuits were filed on behalf of purported Sequenom stockholders (captioned Malkoff v. Sequenom, Inc., et al., No. 16-cv-02054- JAH-BLM, Gupta v. Sequenom, Inc., et al., No. 16-cv-02084-JAH-KSC, Fruchter v. Sequenom, Inc., et al., No. 16-cv-02101- WQH-KSC, Asiatrade Development Ltd. v. Sequenom, Inc., et al., No. 16-cv-02113-AJB-JMA, Nunes v. Sequenom, Inc., et al., No. 16-cv-02128-AJB-MDD, and Cusumano v. Sequenom, Inc., et al., No. 16-cv-02134-LAB-JMA) in the U.S. District Court for the Southern District of California challenging the acquisition transaction. The complaints asserted claims against Sequenom and members of its board of directors (the Individual Defendants). The Nunes action also named the Company and Savoy Acquisition Corp. (Savoy), a wholly owned subsidiary of the Company, as defendants. The complaints alleged that the defendants violated Sections 14(e), 14(d)(4) and 20 of the Securities Exchange Act of 1934 by failing to disclose certain allegedly material information. In addition, the complaints in the Malkoff action, the Asiatrade action, and the Cusumano action alleged that the Individual Defendants breached their fiduciary duties to Sequenom shareholders. The actions sought, among other things, injunctive relief enjoining the merger. On August 30, 2016, the parties entered into a Memorandum of Understanding (MOU) in each of the above-referenced actions. On September 6, 2016, the Court entered an order consolidating for all pre-trial purposes the six individual actions described above under the caption In re Sequenom, Inc. Shareholder Litig., Lead Case No. 16-cv-02054-JAH-BLM, and designating the complaint from the Malkoff action as the operative complaint for the consolidated action. On November 11, 2016, two competing motions were filed by two separate stockholders (James Reilly and Shikha Gupta) seeking appointment as lead plaintiff under the terms of the Private Securities Litigation Reform Act of 1995. On June 7, 2017, the Court entered an order declaring Mr. Reilly as the lead plaintiff and approving Mr. Reilly's selection of lead counsel. The parties agree that the MOU has been terminated. The Plaintiffs filed a Consolidated Amended Class Action Complaint on July 24, 2017, and the Defendants filed a Motion to Dismiss, which remains pending. On March 13, 2019, the Court stayed the action in its entirety pending the U.S. Supreme Court's anticipated decision in Emulex Corp. v. Varjabedian. On April 23, 2019, however, the U.S. Supreme Court dismissed the writ of certiorari in Emulex as improvidently granted. The Company will vigorously defend the lawsuit. On March 10, 2017, the Company was served with a putative class action lawsuit, Victoria Bouffard, et al. v. Laboratory Corporation of America Holdings, filed in the U.S. District Court for the Middle District of North Carolina. The complaint alleges that the Company's patient list prices unlawfully exceed the rates negotiated for the same services with private and public health insurers in violation of various state consumer protection laws. The lawsuit also alleges breach of implied contract or quasi-contract, unjust enrichment, and fraud. The lawsuit seeks statutory, exemplary, and punitive damages, injunctive relief, and recovery of attorney's fees and costs. In May 2017, the Company filed a Motion to Dismiss Plaintiffs' Complaint and Strike Class Allegations; the Motion to Dismiss was granted in March 2018 without prejudice. On October 10, 2017, a second putative class action lawsuit, Sheryl Anderson, et al. v. Laboratory Corporation of America Holdings, was filed in the U.S. District Court for the Middle District of North Carolina. The complaint contained similar allegations and sought similar relief to the Bouffard complaint, and added additional counts regarding state consumer protection laws. On August 10, 2018, the Plaintiffs filed an Amended Complaint, which consolidated the Bouffard and Anderson actions. On September 10, 2018, the Company filed a Motion to Dismiss Plaintiffs' Amended Complaint and Strike Class Allegations. On August 16, 2019, the court entered an order granting in part and denying in part the Motion to Dismiss the Amended Complaint, and denying the Motion to Strike the Class Allegations. The Company will vigorously defend the lawsuit. On April 1, 2019, Covance Research Products was served with a Grand Jury Subpoena issued by the Department of Justice (DOJ) in Miami, Florida requiring the production of documents related to the importation into the United States of live non-human primate shipments originating from or transiting through China, Cambodia, and/or Vietnam from April 1, 2014 through March 28, 2019. The Company is cooperating with the DOJ. On May 14, 2019, Retrieval-Masters Creditors Bureau, Inc. d/b/a American Medical Collection Agency (AMCA), an external collection agency, notified the Company about a security incident AMCA experienced that may have involved certain personal information about some of the Company’s patients (the AMCA Incident). The Company referred patient balances to AMCA only when direct collection efforts were unsuccessful. The Company’s systems were not impacted by the AMCA Incident. Upon learning of the AMCA Incident, the Company promptly stopped sending new collection requests to AMCA and stopped AMCA from continuing to work on any pending collection requests from the Company. AMCA informed the Company that it appeared that an unauthorized user had access to AMCA’s system between August 1, 2018 and March 30, 2019, and that AMCA could not rule out the possibility that personal information on AMCA’s system was at risk during that time period. Information on AMCA’s affected system from the Company may have included name, address, and balance information for the patient and person responsible for payment, along with the patient’s phone number, date of birth, referring physician, and date of service. The Company was later informed by AMCA that health insurance information may have been included for some individuals, and because some insurance carriers utilize the Social Security Number as a subscriber identification number, the Social Security Number for some individuals may also have been affected. No ordered tests, laboratory test results, or diagnostic information from the Company were in the AMCA affected system. The Company notified individuals for whom it had a valid mailing address. For the individuals whose Social Security Number was affected, the notice included an offer to enroll in credit monitoring and identity protection services that will be provided free of charge for 24 months. Twenty-three putative class action lawsuits were filed against the Company related to the AMCA Incident in various U.S. District Courts. Numerous similar lawsuits have been filed against other health care providers who used AMCA. These lawsuits have been consolidated into a multidistrict litigation in the District of New Jersey. On November 15, 2019, the Plaintiffs filed a Consolidated Class Action Complaint in the U.S. District Court of New Jersey. On January 22, 2020, the Company filed Motions to Dismiss all claims. The consolidated Complaint generally alleges that the Company did not adequately protect its patients’ data and failed to timely notify those patients of the AMCA Incident. The Complaint asserts various causes of action, including but not limited to negligence, breach of implied contract, unjust enrichment, and the violation of state data protection statutes. The Complaint seeks damages on behalf of a class of all affected Company customers. The Company will vigorously defend the multi-district litigation. The Company was served with a shareholder derivative lawsuit, Raymond Eugenio, Derivatively on Behalf of Nominal Defendant, Laboratory Corporation of America Holdings v. Lance Berberian, et al., filed in the Court of Chancery of the State of Delaware on April 23, 2020. The complaint asserts derivative claims on the Company’s behalf against the Company’s board of directors and certain executive officers. The complaint generally alleges that the defendants failed to ensure that the Company utilized proper cybersecurity safeguards and failed to implement a sufficient response to data security incidents, including the AMCA Incident. The complaint asserts derivative claims for breach of fiduciary duty and seeks relief including damages, certain disclosures, and certain changes to the Company’s internal governance practices. On June 2, 2020, the Company filed a Motion to Stay the lawsuit due to its overlap with the multi-district litigation referenced above. On July 2, 2020, the Company filed a Motion to Dismiss. On July 14, 2020, the court entered an order staying the lawsuit pending the resolution of the multi-district litigation. The lawsuit will be vigorously defended. Certain governmental entities have requested information from the Company related to the AMCA Incident. The Company received a request for information from the Office for Civil Rights (OCR) of the Department of Health and Human Services. On April 28, 2020, OCR notified the Company of the closure of its inquiry. The Company has also received requests from a multi-state group of state Attorneys General and is cooperating with these requests for information. Three putative class action lawsuits related to California wage and hour laws have been served on the Company. On September 21, 2018, the Company was served with a putative class action lawsuit, Alma Haro v. Laboratory Corporation of America, et al., filed in the Superior Court of California, County of Los Angeles. On June 10, 2019, the Company was served with a putative class action lawsuit, Ignacio v. Laboratory Corporation of America, filed in Superior Court of California, County of Los Angeles. On July 1, 2019, the Company was served with a putative class action lawsuit, Jan v. Laboratory Corporation of America, filed in the Superior Court of California, County of Sacramento. All three cases were subsequently removed to the U.S. District Court for the Central District of California, and then consolidated for all pre-trial proceedings. In the lawsuits, Plaintiffs allege that employees were not properly paid overtime compensation, minimum wages, meal and rest break premiums, did not receive compliant wage statements, and were not properly paid wages upon termination of employment. The Plaintiffs assert these actions violate various California Labor Code provisions and constitute an unfair competition practice under California law. The lawsuits seek monetary damages, civil penalties, and recovery of attorney's fees and costs. The parties reached a tentative settlement resolving the claims for all three cases. The settlement is subject to Court approval. If the settlement is not approved, the Company will vigorously defend the lawsuits. On July 30, 2019, the Company was served with a class action lawsuit, Mitchell v. Covance, Inc. et al., filed in the U.S. District Court for the Eastern District of Pennsylvania. Plaintiff alleges that certain individuals employed by Covance Inc. and Chiltern International Inc. were misclassified as exempt employees under the Fair Labor Standards Act and the Pennsylvania Minimum Wage Act and were thereby not properly paid overtime compensation. The lawsuit seeks monetary damages, liquidated damages, and recovery of attorneys’ fees and costs. On February 3, 2020, the Court denied without prejudice the Plaintiff's motion to conditionally certify a putative class action. The Company will vigorously defend the lawsuit. On January 31, 2020, the Company was served with a putative class action lawsuit, Luke Davis and Julian Vargas, et al. v. Laboratory Corporation of America Holdings, filed in the U.S. District Court for the Central District of California. The lawsuit alleges that visually impaired patients are unable to use the Company's touchscreen kiosks at Company patient service centers in violation of the Americans with Disabilities Act and similar California statutes. The lawsuit seeks statutory damages, injunctive relief, and attorney's fees and costs. On March 20, 2020, the Company filed a Motion to Dismiss Plaintiffs' Complaint and to Strike Class Allegations. The Company will vigorously defend the lawsuit. On May 14, 2020, the Company was served with a putative class action lawsuit, Jose Bermejo v. Laboratory Corporation of America filed in the Superior Court of California, County of Los Angeles Central District, alleging that certain non-exempt California-based employees were not properly compensated for driving time or properly paid wages upon termination of employment. The Plaintiff asserts these actions violate various California Labor Code provisions and Section 17200 of the Business and Professional Code. The lawsuit seeks monetary damages, civil penalties, and recovery of attorney’s fees and costs. On June 15, 2020, the lawsuit was removed to the U.S. District Court for the Central District of California. On June 16, 2020, the Company was served with a Private Attorney General Act lawsuit by the same plaintiff in Jose Bermejo v. Laboratory Corporation of America, filed in the Superior Court of California, County of Los Angeles Central District, alleging that certain Company practices violated California Labor Code penalty provisions related to unpaid and minimum wages, unpaid overtime, unpaid mean and rest break premiums, untimely payment of wages following separation of employment, failure to maintain accurate pay records, and non-reimbursement of business expenses. The second lawsuit seeks to recover civil penalties and recovery of attorney's fees and costs. The Company will vigorously defend both lawsuits. Under the Company's present insurance programs, coverage is obtained for catastrophic exposure as well as those risks required to be insured by law or contract. The Company is responsible for the uninsured portion of losses related primarily to general, professional and vehicle liability, certain medical costs and workers' compensation. The self-insured retentions are on a per-occurrence basis without any aggregate annual limit. Provisions for losses expected under these programs are recorded based upon the Company's estimates of the aggregated liability of claims incurred.

PENSION AND POSTRETIREMENT PLANS

3 Months Ended

Jun. 30, 2020

Postemployment Benefits [Abstract]

PENSION AND POSTRETIREMENT PLANS

Retirement Plans

All employees eligible for the LCD defined-contribution retirement plan (LCD 401(k) Plan) receive a minimum 3% non-elective contribution (NEC) concurrent with each payroll period. Employees are not required to make a contribution to the LCD 401(k) Plan to receive the NEC. The NEC is non-forfeitable and vests immediately. The LCD 401(k) Plan also permits discretionary contributions by the Company of 1% to 3% of pay for eligible employees based on service. The Company incurred expense of $13.9 and $16.2 for the LCD 401(k) Plan during the three months ended June 30, 2020 and 2019 respectively, and $27.4 and $32.2 during the six months ended June 30, 2020 and 2019, respectively.

All of the CDD U.S. employees are eligible to participate in the CDD 401(k) Plan, which is available on a voluntary basis and features a maximum 4.5% Company match, based upon a percentage of the employee’s contributions. The Company incurred expense of $20.3 and $17.9 for the Covance 401(k) plan during the three months ended June 30, 2020, and 2019, respectively, and $43.8 and $37.8 during the six months ended June 30, 2020 and 2019, respectively.

The Company also maintains several other small 401K plans associated with companies acquired over the last several years.

Pension Plans

The Company has a defined-benefit retirement plan (Company Plan) and a nonqualified supplemental retirement plan (PEP). Both plans have been closed to new participants since December 31, 2009. Employees participating in the Company Plan and PEP no longer earn service-based credits, but continue to earn investment credits.

The Company Plan covers substantially all LCD employees employed prior to December 31, 2009. The benefits to be paid under the Company Plan are based on years of credited service through December 31, 2009, interest credits and average compensation. The Company's policy is to fund the Company Plan with at least the minimum amount required by applicable regulations.

The PEP covers a portion of the Company's senior management group. Prior to 2010, the PEP provided for the payment of the difference, if any, between the amount of any maximum limitation on annual benefit payments under the Employee Retirement Income Security Act of 1974 and the annual benefit that would be payable under the Company Plan but for such limitation. Effective January 1, 2010, employees participating in the PEP no longer earn service-based credits. The PEP is an unfunded plan.

The effect on operations for the Company Plan and the PEP is summarized as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Service cost for administrative expenses	$	1.3	$	1.0	$	2.6	$	2.0
Interest cost on benefit obligation	2.8		3.5		5.6		7.0
Expected return on plan assets	(3.8)		(3.8)		(7.5)		(7.6)
Net amortization and deferral	2.2		2.6		4.8		5.2
Defined benefit plan costs	$	2.5	$	3.3	$	5.5	$	6.6

The service cost component of net periodic pension cost and net periodic post-retirement benefit cost is included in operating expenses with other employee compensation costs. The other components of net benefit cost, including amortization or prior service cost/credit and settlement and curtailment effects are included in other, net non-operating expenses. During the six months ended June 30, 2020, the Company made no contributions to the Company Plan. The related net pension obligation for the Company Plan and PEP was $92.7 and $93.4 as of June 30, 2020 and December 31, 2019, respectively.

As a result of the Covance acquisition, the Company sponsors two defined benefit pension plans for the benefit of its employees at two U.K. subsidiaries (U.K. Plans) and one defined benefit pension plan for the benefit of its employees at a German subsidiary (German Plan), all of which are legacy plans of previously acquired companies. The U.K. Plans were closed to future accrual as of December 31, 2019. Benefit amounts for all three plans are based upon years of service and compensation; however, the U.K. Plans were based on service and compensation through December 31, 2019. The German

Plan is unfunded while the U.K. Plans are funded. The Company’s funding policy has been to contribute annually a fixed percentage of the eligible employee's salary, and additional amounts, at least equal to the local statutory funding requirements.

As a result of the Envigo acquisition, the Company assumed a defined benefit pension plan for the benefit of Envigo's U.K. employees (the Envigo Plan), which is a legacy plan of a company previously acquired by Envigo. The Envigo Plan is a funded plan that is closed to future accrual. The Company’s funding policy has been to contribute amounts at least equal to the local statutory funding requirements.

The related net pension obligation for these plans inclusive of the U.K. Plans, German Plan, and the Envigo Plan, was $86.0 and $99.1 as of June 30, 2020 and December 31, 2019, respectively.

The entire disclosure for retirement benefits.

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+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The Company’s population of financial assets and liabilities subject to fair value measurements as of June 30, 2020, and December 31, 2019, is as follows:


				Fair Value Measurements as of
		Fair Value as of		June 30, 2020
	Balance Sheet					Using Fair Value Hierarchy
	Classification	June 30, 2020		Level 1			Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.2	$	—		$	15.2	$	—
Cross currency swaps	Other assets, net	14.3		—			14.3		—
Interest rate swaps	Other assets, net	2.3		—			2.3		—


Cash surrender value of life insurance policies	Other assets, net	78.6		—			78.6		—
Deferred compensation liability	Other liabilities	76.8		—			76.8		—
Contingent consideration	Other liabilities	9.0		—			—		9.0


				Fair Value Measurements as of
		Fair Value as of		December 31, 2019
	Balance Sheet					Using Fair Value Hierarchy
	Classification	December 31, 2019		Level 1			Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.8	$	—		$	15.8	$	—
Cross currency swaps	Other assets, net	3.2		—			3.2		—
Interest rate swaps	Other assets, net	1.5		—			1.5		—
Cash surrender value of life insurance policies	Other assets, net	80.2		—			80.2		—
Deferred compensation liability	Other liabilities	76.7		—			76.7		—
Investment in equity securities	Other current assets	9.1		9.1			—		—
Contingent consideration	Other liabilities	9.9		—			—		9.9


Fair Value Measurement of Level 3 Liabilities	Contingent Consideration


Balance at December 31, 2019	$	9.9
Payments	(4.8)
Adjustments	(2.1)
Additions	6.0
Balance at June 30, 2020	$	9.0

The Company has a noncontrolling interest put related to its Ontario subsidiary that has been classified as mezzanine equity in the Company’s condensed consolidated balance sheets. The noncontrolling interest put is valued at its contractually determined value, which approximates fair value.

The Company offers certain employees the opportunity to participate in an employee-funded deferred compensation plan (DCP). A participant's deferrals are allocated by the participant to one or more of 16 measurement funds, which are indexed to externally managed funds. From time to time, to offset the cost of the growth in the participant's investment accounts, the Company purchases life insurance policies, with the Company named as beneficiary of the policies. Changes in the cash surrender value of the life insurance policies are based upon earnings and changes in the value of the underlying investments, which are typically invested in a similar manner to the participants' allocations. Changes in the fair value of the DCP obligation are derived using quoted prices in active markets based on the market price per unit multiplied by the number of units. The cash

surrender value and the DCP obligations are classified within Level 2 because their inputs are derived principally from observable market data by correlation to the hypothetical investments.

Contingent acquisition consideration liabilities are measured at fair value using Level 3 valuations. These contingent consideration liabilities were recorded at fair value on the acquisition date and are remeasured quarterly based on the then assessed fair value and adjusted if necessary. The increases or decreases in the fair value of contingent consideration payable can result from changes in anticipated revenue levels and changes in assumed discount periods and rates. As the fair value measure is based on significant inputs that are not observable in the market, they are categorized as Level 3.

The carrying amounts of cash and cash equivalents, accounts receivable, income taxes receivable, and accounts payable are considered to be representative of their respective fair values due to their short-term nature. The fair market value of the Senior Notes, based on market pricing, was approximately $6,433.0 and $6,140.6 as of June 30, 2020 and December 31, 2019, respectively. The Company's note and debt instruments are classified as Level 2 instruments, as the fair market values of these instruments are determined using other observable inputs.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

3 Months Ended

Jun. 30, 2020

Derivative Instruments, Gain (Loss) [Table Text Block]

The table below provides information regarding the location and amount of pretax (gains) losses of derivatives designated in fair value hedging relationships:


	Amount of pre-tax gain/(loss) included in other comprehensive income						Amounts reclassified to the Statement of Operations						Amount of pre-tax gain/(loss) included in other comprehensive income				Amounts reclassified to the Statement of Operations
	Three Months Ended June 30,						Three Months Ended June 30,						Six Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019		2020		2019		2020		2019
Interest rate swap contracts	$	(0.9)	$	4.3	$	—	$	—	$	0.9	$	6.8	$	—	$	—
Cross currency swaps	$	(8.8)	$	(7.8)	$	—	$	—	$	11.1	$	4.0	$	—	$	—

Derivative Instruments And Hedging Activities

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The Company addresses its exposure to market risks, principally the market risk associated with changes in interest rates and foreign currency exchange rates, through a controlled program of risk management that includes, from time to time, the use of derivative financial instruments. The Company does not hold or issue derivative financial instruments for trading purposes. The Company does not believe that its exposure to market risk is material to the Company’s financial position or results of operations.

Interest Rate Swap

The Company is party to a fixed-to-variable interest rate swap agreement for its 4.625% senior notes which mature on November 15, 2020, with a notional amount of $300.0 and variable interest rates based on one-month LIBOR plus 2.298% to hedge against changes in the fair value of a portion of the Company's debt. On July 17, 2020, notice was given to holders of the notes that the Company had elected to redeem the outstanding securities on August 17, 2020. The interest rate swap derivative financial instrument is accounted for as fair value hedge of the Senior Notes due 2020. These interest rate swaps are included in prepaid and other assets or liabilities, as applicable, and added to the value of the Senior Notes. As the specific terms and notional amount of the derivative financial instrument matches those of the fixed-rate debt being hedged, the derivative instrument is assumed to be a perfectly effective hedge and accordingly, there is no impact to the Company's Condensed Consolidated Statements of Operations. Cash flows from the interest rate swap are included in operating activities.


	Carrying amount of hedged liabilities as of						Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities as of
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Balance Sheet Line Item in which Hedged Items are Included
Current portion, long term debt	$	302.3	$	301.5	$	2.3	$	1.5

Cross Currency Swap

During the fourth quarter of 2018, the Company entered into six U.S. Dollar to Swiss Franc cross-currency swap agreements with an aggregate notional value of $600.0 and which are accounted for as a hedge against the impact of foreign exchange movements on its net investment in a Swiss subsidiary. Of the notional value, $300.0 matures in 2022 and $300.0 matures in 2025. These cross currency swaps maturing in 2022 and 2025 are included in other long-term assets as of June 30, 2020. Changes in the fair value of the cross-currency swaps are recorded as a component of the foreign currency translation adjustment in accumulated other comprehensive income in the Condensed Consolidated Balance Sheet until the hedged item is recognized in earnings. The cumulative amount of the fair value hedging adjustment included in the current value of the cross currency swaps is $(8.8) and $11.1 for the three and six months ended June 30, 2020, and was recognized as currency translation within the Condensed Consolidated Statement of Comprehensive Earnings. There were no amounts reclassified from the Condensed Consolidated Statement of Comprehensive Earnings to the Condensed Consolidated Statement of Operations during the three months or six months ended June 30, 2020.

The table below presents the fair value of derivatives on a gross basis and the balance sheet classification of those instruments:


		June 30, 2020										December 31, 2019
		Fair Value of Derivative										Fair Value of Derivative
	Balance Sheet Caption	Asset		Liability		U.S. Dollar Notional		Asset		Liability		U.S. Dollar Notional
Derivatives Designated as Hedging Instruments

Interest rate swap	Prepaid expenses and other/Other liabilities	$	2.3	$	—	$	300.0	$	1.5	$	—	$	300.0
Cross currency swaps	Other assets, net or Other liabilities	$	14.3	$	—	$	600.0	$	3.2	$	—	$	600.0

The table below provides information regarding the location and amount of pretax (gains) losses of derivatives designated in fair value hedging relationships:


	Amount of pre-tax gain/(loss) included in other comprehensive income						Amounts reclassified to the Statement of Operations						Amount of pre-tax gain/(loss) included in other comprehensive income				Amounts reclassified to the Statement of Operations
	Three Months Ended June 30,						Three Months Ended June 30,						Six Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019		2020		2019		2020		2019
Interest rate swap contracts	$	(0.9)	$	4.3	$	—	$	—	$	0.9	$	6.8	$	—	$	—
Cross currency swaps	$	(8.8)	$	(7.8)	$	—	$	—	$	11.1	$	4.0	$	—	$	—

No gains or losses from derivative instruments classified as hedging instruments have been recognized into income for the three and six months ended June 30, 2020 and 2019.

Schedule of Derivative Instruments [Table Text Block]

The table below presents the fair value of derivatives on a gross basis and the balance sheet classification of those instruments:


		June 30, 2020										December 31, 2019
		Fair Value of Derivative										Fair Value of Derivative
	Balance Sheet Caption	Asset		Liability		U.S. Dollar Notional		Asset		Liability		U.S. Dollar Notional
Derivatives Designated as Hedging Instruments

Interest rate swap	Prepaid expenses and other/Other liabilities	$	2.3	$	—	$	300.0	$	1.5	$	—	$	300.0
Cross currency swaps	Other assets, net or Other liabilities	$	14.3	$	—	$	600.0	$	3.2	$	—	$	600.0

Business Combination Disclosure [Text Block]

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

BUSINESS ACQUISITIONS

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

BUSINESS ACQUISITIONS AND DISPOSITIONS On June 3, 2019, CDD acquired Envigo's nonclinical contract research services business, expanding CDD's global nonclinical drug development capabilities with additional locations and resources. Additionally, the Company divested the Covance Research Products (CRP) business, which was a part of CDD, to Envigo. As part of this sale, CDD entered into a multi-year, renewable supply agreement with Envigo. The Company paid cash consideration of $601.0, received a floating rate

secured note of $110.0, and recorded a loss on the sale of CRP of $12.2. The Company funded the transaction through a new term loan facility.

The final valuation of acquired assets and assumed liabilities in the transaction as of June 3, 2019, include the following:


Consideration Transferred
Cash consideration	$	601.0
Fair value of CRP	110.0
Total	$	711.0

	Preliminary June 30, 2019		Measurement Period Adjustments		Final June 30, 2020
Net Assets Acquired
Cash and cash equivalents	$	15.1	$	(3.8)	$	11.3
Accounts receivable	16.5		(4.4)		12.1
Unbilled services	26.5		(0.9)		25.6
Inventories	4.5		—		4.5
Prepaid expenses and other	3.5		7.3		10.8
Property, plant and equipment (including ROU operating lease assets)	99.1		29.3		128.4
Deferred income taxes	25.5		(0.3)		25.2
Goodwill	432.2		(55.6)		376.6
Customer relationships	125.8		15.0		140.8
Trade name and trademarks	0.6		—		0.6
Other assets	9.9		—		9.9
Total assets acquired	759.2		(13.4)		745.8
Accounts payable	15.4		(0.2)		15.2
Accrued expenses and other	11.6		(1.2)		10.4
Unearned revenue	49.9		—		49.9

Operating lease liabilities	15.0		(15.0)		—
Other liabilities	66.3		3		69.3
Total liabilities acquired	158.2		(13.4)		144.8
Net Envigo assets acquired	601.0		$	—	$	601.0
Floating rate secured note receivable due 2022	110.0
Total	$	711.0

The final purchase consideration for Envigo has been allocated to the estimated fair market value of the net assets acquired, including approximately $141.4 in identifiable intangible assets and a residual amount of non-tax-deductible goodwill of approximately $376.6. The amortization period for intangible assets acquired is 11 years for customer relationships.

During the six months ended June 30, 2020, the Company recorded a $5.0 charge for the estimated credit loss related to the CDD floating rate secured note receivable due 2022 from Envigo.

During the six months ended June 30, 2020, the Company acquired a business and related assets for approximately $17.3 in cash (including contingent consideration of $6.0 and net of cash acquired). The purchase consideration for this acquisition has been allocated to the estimated fair market value of the net assets acquired, including approximately $9.2 in identifiable intangible assets and a residual amount of non-tax deductible goodwill of approximately $8.1. This acquisition was made primarily to expand its specialty testing.

During the six months ended June 30, 2019, the Company acquired various businesses and related assets for approximately $117.7 in cash (net of cash acquired). The purchase consideration for all acquisitions in the six months ended June 30, 2019, has been allocated to the estimated fair market value of the net assets acquired, including approximately $90.7 in identifiable intangible assets and a residual amount of non-tax deductible goodwill for approximately $53.8. The amortization periods for intangible assets acquired from these businesses range from 11 to 15 years for customer relationships. These acquisitions were made primarily to extend the Company's geographic reach in important market areas, enhance the Company's scientific differentiation and to expand the breadth and scope of the Company's CRO services. The excess of the fair value of the consideration conveyed over the fair value of the net assets acquired was recorded as goodwill. The goodwill reflects the Company's expectations to utilize the acquired businesses' workforce and established relationships and the benefits of being able to leverage operational efficiencies with favorable growth opportunities in these markets.

Unaudited Pro Forma Information

Had the Company's total 2019 and 2020 acquisitions been completed as of January 1, 2019, the Company's pro forma results would have been as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenues	$	2,770.7	$	2,941.0	$	5,596.7	$	5,775.9
Net earnings attributable to Laboratory Corporation of America Holdings	$	231.8	$	194.3	$	(84.9)	$	382.6

BUSINESS SEGMENT INFORMATION Business Segment information (Notes)

3 Months Ended

Jun. 30, 2020

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

BUSINESS SEGMENT INFORMATION

The following table is a summary of segment information for the three and six months ended June 30, 2020 and 2019. The management approach has been used to present the following segment information. This approach is based upon the way the management of the Company organizes segments within an enterprise for making operating decisions and assessing performance. Financial information is reported on the basis that it is used internally by the chief operating decision maker (CODM) for evaluating segment performance and deciding how to allocate resources to segments. The Company’s chief executive officer has been identified as the CODM.

Segment asset information is not presented because it is not used by the CODM at the segment level. Operating earnings of each segment represents revenues less directly identifiable expenses to arrive at operating income for the segment. General management and administrative corporate expenses are included in general corporate expenses below.


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
Revenues:
LCD	$	1,692.7	$	1,760.9	$	3,394.7	$	3,482.9
CDD	1,093.7		1,126.3		2,237.5		2,201.0
Intercompany eliminations and other	(17.6)		(5.5)		(39.6)		(11.0)
Revenues	2,768.8		2,881.7		5,592.6		5,672.9

Operating earnings (loss):
LCD	281.3		312.5		486.7		580.8
CDD	65.5		65.8		(273.2)		153.8
General corporate expenses	(49.1)		(42.6)		(108.4)		(80.7)
Total operating income	297.7		335.7		105.1		653.9
Non-operating expenses, net	(0.7)		(65.7)		(75.8)		(129.2)
Earnings before income taxes	297.0		270.0		29.3		524.7
Provision for income taxes	65.4		79.3		114.6		148.1
Net earnings (loss)	231.6		190.7		(85.3)		376.6
Less net income attributable to noncontrolling interests	—		(0.3)		(0.3)		(0.6)
Net income (loss) attributable to Laboratory Corporation of America Holdings	$	231.6	$	190.4	$	(85.6)	$	376.0

Goodwill and Intangible Assets Disclosure [Abstract]

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Subsequent Event (Notes)	3 Months Ended
Subsequent Event (Notes)	Jun. 30, 2020
Subsequent Event [Line Items]
Subsequent Events	SUBSEQUENT EVENTS In July 2020, the Company acquired two businesses and related assets for approximately $200.0 in cash (net of cash acquired). These acquisitions will be included in both the LCD and CDD segments and were made primarily to extend the Company's geographic reach in important market areas, enhance the Company's scientific differentiation and to expand the breadth and scope of the Company's services. On July 17, 2020, notice was given to holders of $412.2 of the Company’s senior notes, due November 15, 2020, that the Company had elected to redeem the outstanding securities on August 17, 2020 at par. The Company will repay the notes with available cash on hand and borrowings under its revolving credit facility.

BASIS OF FINANCIAL STATEMENT PRESENTATION Use of Estimates (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The extent to which the COVID-19 pandemic has and will impact the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of the COVID-19 pandemic, the extent to which it will impact worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of June 30, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s implicit price concessions and credit losses, equity investments, notes receivable and the carrying value of goodwill and other long-lived assets. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in additional material impacts to the Company’s consolidated financial statements in future reporting periods.
Recently Adopted Accounting Guidance [Policy Text Block]	Recently Adopted Guidance In June 2016, the FASB issued a new accounting standard intended to provide financial statement users with more decision-useful information about expected credit losses and other commitments to extend credit held by the reporting entity. The standard replaces the incurred loss impairment methodology in current generally accepted accounting principles (GAAP) with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company recorded an opening retained earnings adjustment of $7.0 with the adoption of this standard on January 1, 2020. In August 2018, the FASB issued a new accounting standard to reduce, modify, and add to the disclosure requirements on fair value measurements. The Company adopted this standard effective January 1, 2020. The adoption of this standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued a new accounting standard to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this standard effective January 1, 2020. The adoption of this standard did not have a material impact on the consolidated financial statements.

BASIS OF FINANCIAL STATEMENT PRESENTATION New Accounting Pronouncements (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In August 2018, the FASB issued a new accounting standard to reduce, modify, and add to the disclosure requirements on defined benefit pension and other postretirement plans. The standard is effective on January 1, 2021, with early adoption permitted. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements. In December 2019, the FASB issued a new accounting standard to simplify accounting for income taxes and remove, modify, and add to the disclosure requirements of income taxes. The standard is effective January 1, 2021, with early adoption permitted. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements. In January 2020, the FASB issued a new accounting standard to clarify the interaction of the accounting for equity securities and investments accounted for under the equity method of accounting and the accounting for certain forward contracts and purchased options. The standard is effective January 1, 2021. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements. In March 2020, the FASB issued a new accounting standard to provide optional expedients and exceptions if certain conditions are met for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. The expedients and exceptions in the standard are effective between March 12, 2020 and December 31, 2022. The Company did not elect to apply any of the expedients or exceptions for the period ended June 30, 2020 and is currently evaluating the impact this new standard will have on the consolidated financial statements.

BASIS OF FINANCIAL STATEMENT PRESENTATION Novel Coronavirus (COVID-19) Financial Statement Impact (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Novel Coranvirus (Covid-19) Financial Statement Impact [Policy Text Block]	Novel Coronavirus (COVID-19) Financial Statement Impact In March 2020, COVID-19 was declared a pandemic. COVID-19 has had and continues to have an extensive impact on the global health and economic environment. Given the continued unpredictability of the COVID-19 pandemic and the corresponding government restrictions and customer behavior, there are a wide-range of feasible financial results for 2020. While the Company's Base Business continues to be negatively impacted by the COVID-19 pandemic, the Company's outlook has improved across the enterprise. Base Business includes the Company's business operations except for molecular and serology COVID-19 testing (COVID-19 Testing). In LCD, demand for its Base Business continues to be below the Company's historical levels; however, the Company's Base Business has been steadily recovering from its trough in April, while at the same time COVID-19 Testing continues to grow and the Company continues to increase capacity for its COVID-19 molecular and antibody tests. In CDD, while the pandemic is expected to continue to negatively impact its business, this impact is expected to subside throughout the year as CDD continues to work on projects supporting global vaccine and treatment development, with additional support from COVID-19 Testing. As a result of the impact of the COVID-19 pandemic, during the six months ended June 30, 2020, the Company recorded goodwill and other asset impairment charges of $437.4: $426.4 within CDD and $11.0 within LCD, all of which were recorded in the three months ended March 31, 2020. See Note 6 Goodwill and Intangible Assets for discussion of goodwill and intangible asset impairment and Note 2 Revenue for the discussion of credit losses and additional price concessions. The Company also wrote-off or wrote down certain of the Company's investments by $25.4 due to the impact of COVID-19, $7.1 included in Equity method earnings (loss), net (recorded in the three months ended March 31, 2020), and $18.3 included in Other, net ($13.1 recorded during the three months ended March 31, 2020 and $5.2 recorded during the three months ended June 30, 2020). In April 2020, the Company received cash payments of approximately $55.9 from the Public Health and Social Services Emergency Fund for provider relief (Relief Fund) that was appropriated by Congress to the Department of Health and Human Services (HHS) in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Upon receiving and satisfying the terms and conditions associated with the distributed funds, the Company accounted for the transaction by applying the guidance in ASC 450-30 Gain Contingencies, and recorded these funds in Other, net non-operating income in the Consolidated Statement of Operations as of June 30, 2020. The Company instituted numerous actions to help mitigate the financial impact from the COVID-19 pandemic, which included furloughs, reduced hours, and the suspension of discretionary merit adjustments and 401(k) plan contributions in the United States (U.S.). In response to its improved business operations, the Company has been rapidly resuming regular work schedules and is proceeding with merit adjustments and will retroactively reinstate 401(k) plan contributions in the U.S.

BASIS OF FINANCIAL STATEMENT PRESENTATION Recently Adopted Accounting Standards (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Recently Adopted Accounting Guidance [Policy Text Block]	Recently Adopted Guidance In June 2016, the FASB issued a new accounting standard intended to provide financial statement users with more decision-useful information about expected credit losses and other commitments to extend credit held by the reporting entity. The standard replaces the incurred loss impairment methodology in current generally accepted accounting principles (GAAP) with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company recorded an opening retained earnings adjustment of $7.0 with the adoption of this standard on January 1, 2020. In August 2018, the FASB issued a new accounting standard to reduce, modify, and add to the disclosure requirements on fair value measurements. The Company adopted this standard effective January 1, 2020. The adoption of this standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued a new accounting standard to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted this standard effective January 1, 2020. The adoption of this standard did not have a material impact on the consolidated financial statements.

Intangible Assets, Goodwill and Other (Policies)

3 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets, Goodwill, Policy

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the six months ended June 30, 2020, are as follows:



	LCD		CDD		Total

Balance as of January 1, 2020	$	3,721.5	$	4,143.5	$	7,865.0
Goodwill acquired during the period	8.1		—		8.1


Impairment	(3.7)		(418.7)		(422.4)
Foreign currency impact and other adjustments to goodwill	6.4		(34.4)		(28.0)
Balance as of June 30, 2020	$	3,732.3	$	3,690.4	$	7,422.7

The Company assesses goodwill and indefinite-lived intangibles for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Based upon the revised forecasted revenues and operating income following the declaration of the COVID-19 global pandemic, management concluded there was a triggering event and updated its annual 2019 goodwill impairment testing as of March 31, 2020, for its CDD reporting units, including one where the 2019 fair value exceeded carrying value by approximately 10%, and its LCD reporting units. Based on the quantitative impairment assessment, the Company concluded that the fair value was less than carrying value for two of its reporting units and recorded a goodwill impairment of $418.7 for the CDD segment and $3.7 for LCD segment.

The Company utilized a combination of income and market approaches to determine the fair value of the CDD reporting units. Based upon the results of the quantitative assessments, the Company concluded that the fair value was less than its carrying value for one of the CDD reporting units. A non-cash charge of $418.7 was recognized and included in goodwill and other asset impairments on the Consolidated Statement of Operations to reduce the carrying amount of goodwill for the CDD reporting unit to fair value. Following the impairment charge, the carrying value of goodwill for this reporting unit is $1,560.5. The other CDD reporting unit evaluated indicated a fair value that exceeded carrying value by less than 10%. Management notes that a 1% change in the discount rate in the March 31, 2020, analysis would reduce the headroom to approximately 2.0%. Goodwill for this reporting unit as of June 30, 2020 is $628.5.

The Company utilized the income approach to determine the fair value of the LCD reporting units. Based upon the results of the quantitative assessments, the Company concluded the fair value of one of the reporting units was less than its carrying value. A non-cash charge of $3.7 was recognized and included in goodwill and other asset impairments on the Consolidated Statement of Operations to reduce the carrying amount of goodwill for this LCD reporting unit to zero. The other LCD reporting unit evaluated indicated a fair value that exceeded carrying value by less than 10.0%. Management notes that a 1% change in the discount rate in the March 31, 2020, analysis would cause the fair value to be less than carrying value and would result in an impairment of approximately $40.0. Goodwill and indefinite-lived intangibles of Canadian licenses for this reporting unit as of June 30, 2020 were $84.4 and $459.7, respectively.

Although the Company believes that the current assumptions and estimates used in its goodwill analysis are reasonable, supportable, and appropriate, continued efforts to maintain or improve the performance of this business could be impacted by unfavorable or unforeseen changes which could impact the existing assumptions used in the impairment analysis. Various

factors could reasonably be expected to unfavorably impact existing assumptions: primarily delays in new customer bookings and the related delay in revenue from new customers, increases in customer termination activity or increases in operating costs. In addition, given the ongoing and rapidly changing nature of the COVID-19 pandemic, there is significant uncertainty regarding the duration and severity of the pandemic as well as any future government restrictions, which may unfavorably impact existing assumptions. Accordingly, there can be no assurance that the estimates and assumptions made for the purposes of the goodwill impairment analysis will prove to be accurate predictions of future performance.

The Company will continue to monitor the financial performance of and assumptions for its reporting units. Management's impairment analysis utilizes significant judgments and assumptions related to the market comparable method analysis, such as selected market multiples, and those related to cash flow projections, such as revenue and terminal growth rates, projected operating margin, and the discount rate. A significant increase in the discount rate, decrease in the revenue and terminal growth rates, decreased operating margin, or substantial reductions in end markets and volume assumptions, could have a negative impact on the estimated fair value of the reporting units. A future impairment charge for goodwill or intangible assets could have a material effect on the Company's consolidated financial position and results of operations.

The components of identifiable intangible assets are as follows:


	June 30, 2020										December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	4,424.3	$	(1,419.9)	$	3,004.4	$	4,441.7	$	(1,329.5)	$	3,112.2
Patents, licenses and technology	449.0		(245.5)		203.5		453.6		(235.7)		217.9
Non-compete agreements	96.2		(65.0)		31.2		90.9		(60.5)		30.4
Trade name	408.1		(234.3)		173.8		408.2		(219.9)		188.3
Land use right	10.8		(6.2)		4.6		10.9		(5.5)		5.4
Canadian licenses	459.7		—		459.7		480.3		—		480.3
	$	5,848.1	$	(1,970.9)	$	3,877.2	$	5,885.6	$	(1,851.1)	$	4,034.5

The Company recorded a non-cash charge of $2.7 for the impairment of a CDD tradename during the six months ended June 30, 2020.

Amortization of intangible assets for the three months ended June 30, 2020 and 2019, was $60.1 and $60.2, respectively and for the six months ended June 30, 2020 and 2019 was $122.4 and $117.3, respectively. Amortization expense for the net carrying amount of intangible assets is estimated to be $118.2 for the remainder of fiscal 2020, $235.6 in fiscal 2021, $229.6 in fiscal 2022, $224.2 in fiscal 2023, $219.2 in fiscal 2024, and $2,311.1 thereafter.

Revenue from Contract with Customer (Policies)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

REVENUES

The Company's revenues by segment payers/customer groups for the three and six months ended June 30, 2020, and 2019, were as follows:


	For the Three Months Ended June 30, 2020
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	20	%	1	%	—	%	—	%	—	%	—	%	21	%
Patients	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Medicare and Medicaid	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Third-party	25	%	1	%	—	%	—	%	—	%	—	%	26	%
Total LCD revenues by payer	59	%	2	%	—	%	—	%	—	%	—	%	61	%

CDD
Biopharmaceutical and medical device companies	18	%	—	%	5	%	4	%	3	%	9	%	39	%

Total revenues	77	%	2	%	5	%	4	%	3	%	9	%	100	%


	For the Three Months Ended June 30, 2019
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	16	%	1	%	—	%	—	%	—	%	—	%	17	%
Patients	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Medicare and Medicaid	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Third-party	26	%	2	%	—	%	—	%	—	%	—	%	28	%
Total LCD revenues by payer	58	%	3	%	—	%	—	%	—	%	—	%	61	%

CDD
Biopharmaceutical and medical device companies	20	%	—	%	4	%	5	%	3	%	7	%	39	%

Total revenues	78	%	3	%	4	%	5	%	3	%	7	%	100	%


	For the Six Months Ended June 30, 2020
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	18	%	1	%	—	%	—	%	—	%	—	%	19	%
Patients	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Medicare and Medicaid	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Third-party	25	%	2	%	—	%	—	%	—	%	—	%	27	%
Total LCD revenues by payer	57	%	3	%	—	%	—	%	—	%	—	%	60	%

CDD
Biopharmaceutical and medical device companies	19	%	—	%	5	%	5	%	3	%	8	%	40	%

Total revenues	76	%	3	%	5	%	5	%	3	%	8	%	100	%


	For the Six Months Ended June 30, 2019
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	16	%	1	%	—	%	—	%	—	%	—	%	17	%
Patients	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Medicare and Medicaid	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Third-party	26	%	2	%	—	%	—	%	—	%	—	%	28	%
Total LCD revenues by payer	58	%	3	%	—	%	—	%	—	%	—	%	61	%

CDD
Biopharmaceutical and medical device companies	20	%	—	%	4	%	5	%	3	%	7	%	39	%

Total revenues	78	%	3	%	4	%	5	%	3	%	7	%	100	%

Contract costs

CDD incurs sales commissions in the process of obtaining contracts with customers, which are recoverable through the service fees in the contract. Sales commissions that are payable upon contract award are recognized as assets and amortized over the expected contract term, along with related payroll tax expense. The amortization of commission expense is based on the weighted average contract duration for all commissionable awards in the respective business in which the commission expense is paid, which approximates the period over which goods and services are transferred to the customer. The amortization period of sales commissions ranges from approximately 1 to 5 years, depending on the business. For businesses that enter into primarily short-term contracts, the Company applies the practical expedient, which allows costs to obtain a contract to be expensed when incurred if the amortization period of the assets that would otherwise have been recognized is one year or less. Amortization of assets from sales commissions is included in selling, general, and administrative expense.

CDD incurs costs to fulfill contracts with customers, which are recoverable through the service fees in the contract. Contract fulfillment costs include software implementation costs and setup costs for certain market access solutions. These costs are recognized as assets and amortized over the expected term of the contract to which the implementation relates, which is the period over which services are expected to be provided to the customer. This period typically ranges from 2 to 5 years. Amortization of deferred contract fulfillment costs is included in cost of goods sold.


	June 30, 2020		December 31, 2019
Sales commission assets	$	32.0	$	28.6
Deferred contract fulfillment costs	13.3		14.9
Total	$	45.3	$	43.5

Amortization related to sales commission assets and associated payroll taxes for the three months ended June 30, 2020, and 2019, was $5.5 and $5.1, respectively and for the six month periods ended June 30, 2020, and 2019, was $10.8 and $9.5, respectively. Amortization related to deferred contract fulfillment costs for the three months ended June 30, 2020, and 2019, was $2.3 and $1.9, respectively, and was $5.3 and $3.8, respectively, for the six month periods ended June 30, 2020, and 2019.

Receivables, Unbilled Services and Unearned Revenue

Unbilled services are comprised primarily of unbilled receivables, but also include contract assets. A contract asset is recorded when a right to payment has been earned for work performed, but billing and payment for that work is determined by certain contractual milestones, whereas unbilled receivables are billable upon the passage of time. While CDD attempts to negotiate terms that provide for billing and payment of services prior or in close proximity to the provision of services, this is not always possible and there are fluctuations in the level of unbilled services and unearned revenue from period to period. The following table provides information about receivables, unbilled services, and unearned revenue (contract liabilities) from contracts with customers for CDD.


	June 30, 2020		December 31, 2019
Receivables, which are included in accounts receivable	$	730.5	$	771.1
Unbilled services	539.7		483.7
Unearned revenue	471.4		449.2

Revenues recognized during the period, that were included in the unearned revenue balance at the beginning of the period for the six months ended June 30, 2020, and June 30, 2019, were $102.2 and $161.6, respectively.

Credit Loss Rollforward

With the adoption of current expected credit loss standard in 2020, the Company estimates future expected losses on accounts receivable, unbilled services and notes receivable over the remaining collection period of the instrument. The rollforward for the allowance for credit losses for the six months ended June 30, 2020, is as follows:


	For the Six Months Ended June 30, 2020
	Accounts Receivable		Unbilled Services		Note Receivable		Total
Allowance for credit losses as of December 31, 2019	$	19.0	$	2.3	$	—	$	21.3
Current expected credit losses opening balance impact on retained earnings	1.9		0.2		5.0		7.1
Plus, credit loss expense	9.1		1.9		5.0		16.0
Less, write offs	0.9		0.1		—		1.0
Ending allowance for credit losses	$	29.1	$	4.3	$	10.0	$	43.4

The note receivable is the floating note receivable due 2022 from the Envigo transaction which is recorded in Other assets, net.

During the six months ended June 30, 2020, the Company also recorded $23.3 of additional implicit price concessions as a result of anticipated collection challenges from the economic decline.

Performance Obligations Under Long-Term Contracts

Long-term contracts at the Company consist primarily of fully managed clinical studies within CDD. The amount of existing performance obligations under such long-term contracts unsatisfied as of June 30, 2020, was $4,498.8. The Company expects to recognize approximately 31% of the remaining performance obligations as of June 30, 2020, as revenue over the next 12 months, and the balance thereafter. The Company's long-term contracts generally range from 1 to 8 years.

Within CDD, revenues of $13.7 and $48.4 were recognized during the six months ended June 30, 2020, and 2019, respectively, from performance obligations that were satisfied in previous periods. This revenue comes from adjustments related to changes in scope and estimates in full service clinical studies.

EARNINGS PER SHARE (Tables)

3 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Reconciliation of Basic earnings per Share to Diluted Earnings per Share

The following represents a reconciliation of basic earnings (loss) per share to diluted earnings (loss) per share:


	Three Months Ended June 30,																		Six Months Ended June 30,
	2020								2019									2020			2019
	Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount		Earnings (Loss)		Shares	Per Share Amount		Earnings		Shares	Per Share Amount
Basic earnings (loss) per share:
Net earnings (loss)	$	231.6	97.3	$	2.38	$	190.4	98.1	$	1.94	$	(85.6)	97.2	$	(0.88)	$	376.0	98.4	$	3.82
Dilutive effect of employee stock options and awards	—		0.4			—		0.7			—		—			—		0.7


Net earnings (loss) including impact of dilutive adjustments ^(a)	$	231.6	97.7	$	2.37	$	190.4	98.8	$	1.93	$	(85.6)	97.2	$	(0.88)	$	376.0	99.1	$	3.79

Potential common shares not included in computation of diluted earnings per share

The following table summarizes the potential common shares not included in the computation of diluted earnings per share because their impact would have been antidilutive:


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
Employee stock options and awards	0.8	0.2	1.3	0.2

RESTRUCTURING AND OTHER SPECIAL CHARGES Restructuring and Other Special Charges Detail (Tables)

3 Months Ended

Jun. 30, 2020

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following represents the Company’s restructuring reserve activities for the period indicated:


	LCD						CDD
	Severance and Other Employee Costs		Facility Costs		Severance and Other Employee Costs		Facility Costs		Total
Balance as of December 31, 2019	$	0.5	$	2.7	$	5.5	$	4.7	$	13.4

Restructuring charges	2.7		3.5		7.8		6.4		20.4
Adjustments to prior restructuring accruals	(0.1)		(0.4)		(0.9)		(5.3)		(6.7)
Impairment of lab facility and equipment	—		—		—		8.0		8.0
Impairment of operating lease right-of-use asset	—		6.1		—		4.0		10.1
Cash payments and other adjustments	(3.0)		(9.9)		(3.8)		(15.5)		(32.2)
Balance as of June 30, 2020	$	0.1	$	2.0	$	8.6	$	2.3	$	13.0
Current									$	9.4
Non-current									3.6
									$	13.0

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the six months ended June 30, 2020, are as follows:



	LCD		CDD		Total

Balance as of January 1, 2020	$	3,721.5	$	4,143.5	$	7,865.0
Goodwill acquired during the period	8.1		—		8.1


Impairment	(3.7)		(418.7)		(422.4)
Foreign currency impact and other adjustments to goodwill	6.4		(34.4)		(28.0)
Balance as of June 30, 2020	$	3,732.3	$	3,690.4	$	7,422.7

Schedule of Intangible Assets and Goodwill [Table Text Block]

The components of identifiable intangible assets are as follows:


	June 30, 2020										December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	4,424.3	$	(1,419.9)	$	3,004.4	$	4,441.7	$	(1,329.5)	$	3,112.2
Patents, licenses and technology	449.0		(245.5)		203.5		453.6		(235.7)		217.9
Non-compete agreements	96.2		(65.0)		31.2		90.9		(60.5)		30.4
Trade name	408.1		(234.3)		173.8		408.2		(219.9)		188.3
Land use right	10.8		(6.2)		4.6		10.9		(5.5)		5.4
Canadian licenses	459.7		—		459.7		480.3		—		480.3
	$	5,848.1	$	(1,970.9)	$	3,877.2	$	5,885.6	$	(1,851.1)	$	4,034.5

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Company's population of financial assets and liabilities subject to fair value measurements

The Company’s population of financial assets and liabilities subject to fair value measurements as of June 30, 2020, and December 31, 2019, is as follows:


				Fair Value Measurements as of
		Fair Value as of		June 30, 2020
	Balance Sheet					Using Fair Value Hierarchy
	Classification	June 30, 2020		Level 1			Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.2	$	—		$	15.2	$	—
Cross currency swaps	Other assets, net	14.3		—			14.3		—
Interest rate swaps	Other assets, net	2.3		—			2.3		—


Cash surrender value of life insurance policies	Other assets, net	78.6		—			78.6		—
Deferred compensation liability	Other liabilities	76.8		—			76.8		—
Contingent consideration	Other liabilities	9.0		—			—		9.0


				Fair Value Measurements as of
		Fair Value as of		December 31, 2019
	Balance Sheet					Using Fair Value Hierarchy
	Classification	December 31, 2019		Level 1			Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.8	$	—		$	15.8	$	—
Cross currency swaps	Other assets, net	3.2		—			3.2		—
Interest rate swaps	Other assets, net	1.5		—			1.5		—
Cash surrender value of life insurance policies	Other assets, net	80.2		—			80.2		—
Deferred compensation liability	Other liabilities	76.7		—			76.7		—
Investment in equity securities	Other current assets	9.1		9.1			—		—
Contingent consideration	Other liabilities	9.9		—			—		9.9

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]


Fair Value Measurement of Level 3 Liabilities	Contingent Consideration


Balance at December 31, 2019	$	9.9
Payments	(4.8)
Adjustments	(2.1)
Additions	6.0
Balance at June 30, 2020	$	9.0

BUSINESS ACQUISITIONS Business Acquisitions Tables (Tables)

3 Months Ended

Jun. 30, 2020

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The final valuation of acquired assets and assumed liabilities in the transaction as of June 3, 2019, include the following:


Consideration Transferred
Cash consideration	$	601.0
Fair value of CRP	110.0
Total	$	711.0

	Preliminary June 30, 2019		Measurement Period Adjustments		Final June 30, 2020
Net Assets Acquired
Cash and cash equivalents	$	15.1	$	(3.8)	$	11.3
Accounts receivable	16.5		(4.4)		12.1
Unbilled services	26.5		(0.9)		25.6
Inventories	4.5		—		4.5
Prepaid expenses and other	3.5		7.3		10.8
Property, plant and equipment (including ROU operating lease assets)	99.1		29.3		128.4
Deferred income taxes	25.5		(0.3)		25.2
Goodwill	432.2		(55.6)		376.6
Customer relationships	125.8		15.0		140.8
Trade name and trademarks	0.6		—		0.6
Other assets	9.9		—		9.9
Total assets acquired	759.2		(13.4)		745.8
Accounts payable	15.4		(0.2)		15.2
Accrued expenses and other	11.6		(1.2)		10.4
Unearned revenue	49.9		—		49.9

Operating lease liabilities	15.0		(15.0)		—
Other liabilities	66.3		3		69.3
Total liabilities acquired	158.2		(13.4)		144.8
Net Envigo assets acquired	601.0		$	—	$	601.0
Floating rate secured note receivable due 2022	110.0
Total	$	711.0

Business Acquisition, Pro Forma Information [Table Text Block]

Unaudited Pro Forma Information

Had the Company's total 2019 and 2020 acquisitions been completed as of January 1, 2019, the Company's pro forma results would have been as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenues	$	2,770.7	$	2,941.0	$	5,596.7	$	5,775.9
Net earnings attributable to Laboratory Corporation of America Holdings	$	231.8	$	194.3	$	(84.9)	$	382.6

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]


	Carrying amount of hedged liabilities as of						Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities as of
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Balance Sheet Line Item in which Hedged Items are Included
Current portion, long term debt	$	302.3	$	301.5	$	2.3	$	1.5

BUSINESS SEGMENT INFORMATION (Tables)

3 Months Ended

Jun. 30, 2020

Segment Reconciliation of Operating Income to Consolidated [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
Revenues:
LCD	$	1,692.7	$	1,760.9	$	3,394.7	$	3,482.9
CDD	1,093.7		1,126.3		2,237.5		2,201.0
Intercompany eliminations and other	(17.6)		(5.5)		(39.6)		(11.0)
Revenues	2,768.8		2,881.7		5,592.6		5,672.9

Operating earnings (loss):
LCD	281.3		312.5		486.7		580.8
CDD	65.5		65.8		(273.2)		153.8
General corporate expenses	(49.1)		(42.6)		(108.4)		(80.7)
Total operating income	297.7		335.7		105.1		653.9
Non-operating expenses, net	(0.7)		(65.7)		(75.8)		(129.2)
Earnings before income taxes	297.0		270.0		29.3		524.7
Provision for income taxes	65.4		79.3		114.6		148.1
Net earnings (loss)	231.6		190.7		(85.3)		376.6
Less net income attributable to noncontrolling interests	—		(0.3)		(0.3)		(0.6)
Net income (loss) attributable to Laboratory Corporation of America Holdings	$	231.6	$	190.4	$	(85.6)	$	376.0

REVENUE (Tables)

3 Months Ended

Jun. 30, 2020

Disaggregation of Revenue [Line Items]

Financing Receivable, Allowance for Credit Loss [Table Text Block]

The rollforward for the allowance for credit losses for the six months ended June 30, 2020, is as follows:


	For the Six Months Ended June 30, 2020
	Accounts Receivable		Unbilled Services		Note Receivable		Total
Allowance for credit losses as of December 31, 2019	$	19.0	$	2.3	$	—	$	21.3
Current expected credit losses opening balance impact on retained earnings	1.9		0.2		5.0		7.1
Plus, credit loss expense	9.1		1.9		5.0		16.0
Less, write offs	0.9		0.1		—		1.0
Ending allowance for credit losses	$	29.1	$	4.3	$	10.0	$	43.4

Contract with Customer, Asset and Liability [Table Text Block]


	June 30, 2020		December 31, 2019
Receivables, which are included in accounts receivable	$	730.5	$	771.1
Unbilled services	539.7		483.7
Unearned revenue	471.4		449.2

Disaggregation of Revenue [Table Text Block]

The Company's revenues by segment payers/customer groups for the three and six months ended June 30, 2020, and 2019, were as follows:


	For the Three Months Ended June 30, 2020
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	20	%	1	%	—	%	—	%	—	%	—	%	21	%
Patients	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Medicare and Medicaid	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Third-party	25	%	1	%	—	%	—	%	—	%	—	%	26	%
Total LCD revenues by payer	59	%	2	%	—	%	—	%	—	%	—	%	61	%

CDD
Biopharmaceutical and medical device companies	18	%	—	%	5	%	4	%	3	%	9	%	39	%

Total revenues	77	%	2	%	5	%	4	%	3	%	9	%	100	%


	For the Three Months Ended June 30, 2019
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	16	%	1	%	—	%	—	%	—	%	—	%	17	%
Patients	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Medicare and Medicaid	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Third-party	26	%	2	%	—	%	—	%	—	%	—	%	28	%
Total LCD revenues by payer	58	%	3	%	—	%	—	%	—	%	—	%	61	%

CDD
Biopharmaceutical and medical device companies	20	%	—	%	4	%	5	%	3	%	7	%	39	%

Total revenues	78	%	3	%	4	%	5	%	3	%	7	%	100	%


	For the Six Months Ended June 30, 2020
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	18	%	1	%	—	%	—	%	—	%	—	%	19	%
Patients	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Medicare and Medicaid	7	%	—	%	—	%	—	%	—	%	—	%	7	%
Third-party	25	%	2	%	—	%	—	%	—	%	—	%	27	%
Total LCD revenues by payer	57	%	3	%	—	%	—	%	—	%	—	%	60	%

CDD
Biopharmaceutical and medical device companies	19	%	—	%	5	%	5	%	3	%	8	%	40	%

Total revenues	76	%	3	%	5	%	5	%	3	%	8	%	100	%


	For the Six Months Ended June 30, 2019
	U.S.		Canada		United Kingdom		Switzerland		Other Europe		Other		Total
Payer/Customer
LCD
Clients	16	%	1	%	—	%	—	%	—	%	—	%	17	%
Patients	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Medicare and Medicaid	8	%	—	%	—	%	—	%	—	%	—	%	8	%
Third-party	26	%	2	%	—	%	—	%	—	%	—	%	28	%
Total LCD revenues by payer	58	%	3	%	—	%	—	%	—	%	—	%	61	%

CDD
Biopharmaceutical and medical device companies	20	%	—	%	4	%	5	%	3	%	7	%	39	%

Total revenues	78	%	3	%	4	%	5	%	3	%	7	%	100	%

Capitalized Contract Cost [Table Text Block]


	June 30, 2020		December 31, 2019
Sales commission assets	$	32.0	$	28.6
Deferred contract fulfillment costs	13.3		14.9
Total	$	45.3	$	43.5

Leases (Tables)

3 Months Ended

Jun. 30, 2020

Leases [Abstract]

Line of Credit Facility, Fair Value of Amount Outstanding

SUPPLEMENTAL CASH FLOW INFORMATION


	Six Months Ended June 30,
	2020		2019
Supplemental schedule of cash flow information:
Cash paid during period for:
Interest	$	111.5	$	123.8
Income taxes, net of refunds	15.1		119.6
Disclosure of non-cash financing and investing activities:

Conversion of zero-coupon convertible debt	—		7.2

Change in accrued property, plant and equipment	(17.1)		(12.5)
Floating rate secured note receivable due 2022 from the sale of CRP	—		110.0

BASIS OF FINANCIAL STATEMENT PRESENTATION (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Asset Impairment Charges	$ 0.0		$ 0.0		$ 437.4	$ 0.0
Revenues	2,768.8		2,881.7		5,592.6	5,672.9
Cost of Revenue	2,008.3		2,056.9		4,104.1	4,058.4
Contract with Customer, Liability	471.4				471.4		$ 449.2
Amortization of Deferred Sales Commissions	5.5		$ 5.1		10.8	9.5
Assets, Current	$ 3,413.2				3,413.2		2,981.2
Net Cash Provided by (Used in) Operating Activities					$ 574.5	$ 419.3
Percent of Revenue Contributed	100.00%		100.00%		100.00%	100.00%
Selling, general and administrative expenses	$ 396.3		$ 415.3		$ 791.8	$ 809.1
Nonoperating Income (Expense)	(0.7)		(65.7)		(75.8)	(129.2)
Provision for income taxes	65.4		79.3		114.6	148.1
Net earnings	231.6		190.7		(85.3)	376.6
Net Income (Loss) Attributable to Parent	$ 231.6	$ (317.2)	$ 190.4	$ 185.6	$ (85.6)	$ 376.0
Basic earnings per common share (in dollars per share)	$ 2.38		$ 1.94		$ (0.88)	$ 3.82
Diluted earnings per common share (in dollars per share)	$ 2.37		$ 1.93		$ (0.88)	$ 3.79
Net Cash Provided by (Used in) Investing Activities					$ (230.0)	$ (891.3)
Net Cash Provided by (Used in) Financing Activities					(119.7)	311.7
Effect of exchange rate changes on cash and cash equivalents					(5.3)	(1.1)
Assets	$ 17,849.1				17,849.1		18,046.4
Long-term debt, less current portion	3,034.4				3,034.4		2,655.8
Common stock, 92.8 and 93.5 shares outstanding at March 31, 2013 and December 31, 2012, respectively	19.5				19.5		20.1
Stockholders' Equity Attributable to Parent	7,352.7	7,020.1	$ 7,144.4	7,111.3	7,352.7	7,144.4	7,567.0	$ 6,971.4
Liabilities and Equity	17,849.1				17,849.1		18,046.4
Capitalized Contract Cost, Amortization	2.3		1.9		5.3	3.8
Deferred Revenue, Revenue Recognized					102.2	161.6
Revenue, Remaining Performance Obligation, Amount	4,498.8				4,498.8
Contract with Customer, Performance Obligation Satisfied in Previous Period					13.7	48.4
Goodwill, Impairment Loss					422.4
Other than Temporary Impairment Losses, Investments					25.4
Cash Payment Received Appropriated by U.S. Congress Covid-19					$ 55.9
Ownership percentage below which investments are generally accounted for on the cost method (in thousandths)					20.00%
LabCorp Diagnostics [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	$ 1,692.7		$ 1,760.9		$ 3,394.7	$ 3,482.9
Percent of Revenue Contributed	61.00%		61.00%		60.00%	61.00%
Goodwill and Intangible Asset Impairment					$ 11.0
Goodwill, Impairment Loss					3.7
Covance Drug Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	$ 1,093.7		$ 1,126.3		$ 2,237.5	$ 2,201.0
Percent of Revenue Contributed	39.00%				40.00%
Goodwill and Intangible Asset Impairment					$ 426.4
Goodwill, Impairment Loss					418.7
Equity Method Income (Loss), Net [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other than Temporary Impairment Losses, Investments					7.1
Other Nonoperating Income (Expense) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other than Temporary Impairment Losses, Investments	$ 5.2	13.1			18.3
Retained Earnings [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net Income (Loss) Attributable to Parent	231.6	(317.2)	190.4	185.6
Stockholders' Equity Attributable to Parent	$ 7,760.6	$ 7,529.0	$ 7,455.8	$ 7,265.4	$ 7,760.6	$ 7,455.8	$ 7,903.6	$ 7,079.8

EARNINGS PER SHARE (Reconciliation of Basic Earnings Per Share to Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Income [Abstract]
Net earnings attributable to Laboratory Corporation of America Holdings	$ 231.6	$ (317.2)	$ 190.4	$ 185.6	$ (85.6)	$ 376.0
Shares [Abstract]
Net earnings, basic (in shares)	97.3		98.1		97.2	98.4
Dilutive effect of employee stock options and awards, (in shares)	0.4		0.7		0.0	0.7
Per Share Amount [Abstract]
Basic earnings per common share (in dollars per share)	$ 2.38		$ 1.94		$ (0.88)	$ 3.82
Diluted earnings per common share (in dollars per share)	$ 2.37		$ 1.93		$ (0.88)	$ 3.79
Net Income (Loss) Available to Common Stockholders, Diluted	$ 231.6		$ 190.4		$ (85.6)	$ 376.0
Weighted Average Number of Shares Outstanding, Diluted	97.7		98.8		97.2	99.1

EARNINGS PER SHARE (Potential common shares not included in computation of diluted earnings per share) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Stock options (in shares)	0.8	0.2	1.3	0.2

RESTRUCTURING AND OTHER SPECIAL CHARGES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 13.0		$ 13.4
Restructuring Charges	20.4
Restructuring Reserve Settled With Cash And Other Adjustment	(32.2)
Net restructuring charges	31.8	$ 34.2
Restructuring charges related to severance and other employee costs	10.5	20.3
Other Asset Impairment Charges	8.0
Restructuring charges related to contractual obligations associated with leased facilities and other facility related costs	20.0	13.5
Employee Severance Benefits Related Restructuring Reserve Accrual Adjustment	(1.0)	(0.4)
Asset Impairment Charges	8.0
Operating Lease, Impairment Loss	10.1
Unused facility restructuring reserves	(5.7)
Reduction in total prior restructuring accruals	(6.7)
Restructuring Reserve, Current	9.4
Restructuring Reserve, Noncurrent	3.6
Covance Drug Development [Member]
Restructuring Cost and Reserve [Line Items]
Net restructuring charges	20.0	18.1
Covance Drug Development [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	8.6		5.5
Restructuring Charges	7.8
Restructuring Reserve Settled With Cash And Other Adjustment	(3.8)
Asset Impairment Charges	0.0
Operating Lease, Impairment Loss	0.0
Reduction in total prior restructuring accruals	0.9
Covance Drug Development [Member] \| Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	2.3		4.7
Restructuring Charges	6.4
Restructuring Reserve Settled With Cash And Other Adjustment	(15.5)
Asset Impairment Charges	8.0
Operating Lease, Impairment Loss	4.0
Reduction in total prior restructuring accruals	5.3
LabCorp Diagnostics [Member]
Restructuring Cost and Reserve [Line Items]
Net restructuring charges	11.8	$ 16.1
LabCorp Diagnostics [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0.1		0.5
Restructuring Charges	2.7
Restructuring Reserve Settled With Cash And Other Adjustment	(3.0)
Asset Impairment Charges	0.0
Operating Lease, Impairment Loss	0.0
Reduction in total prior restructuring accruals	(0.1)
LabCorp Diagnostics [Member] \| Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	2.0		$ 2.7
Restructuring Charges	3.5
Restructuring Reserve Settled With Cash And Other Adjustment	(9.9)
Asset Impairment Charges	0.0
Operating Lease, Impairment Loss	6.1
Reduction in total prior restructuring accruals	$ (0.4)

RESTRUCTURING RESERVES (Details) - USD ($) $ in Millions	6 Months Ended
RESTRUCTURING RESERVES (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Unused facility restructuring reserves	$ 5.7
Balance, beginning of period	13.4
Restructuring charges	20.4
Reduction of prior restructuring accruals	(6.7)
Cash payments and other adjustments	(32.2)
Balance, end of period	13.0
Current			$ 9.4
Non-current			3.6
Total Restructuring Reserve	13.0		13.0
Employee Severance Benefits Related Restructuring Reserve Accrual Adjustment	1.0	$ 0.4
LabCorp Diagnostics [Member] \| Severance and Other Employee Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	0.5
Restructuring charges	2.7
Reduction of prior restructuring accruals	(0.1)
Cash payments and other adjustments	(3.0)
Balance, end of period	0.1
Total Restructuring Reserve	0.1		0.1
LabCorp Diagnostics [Member] \| Lease and Other Facility Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	2.7
Restructuring charges	3.5
Reduction of prior restructuring accruals	(0.4)
Cash payments and other adjustments	(9.9)
Balance, end of period	2.0
Total Restructuring Reserve	2.0		2.0
Covance Drug Development [Member] \| Severance and Other Employee Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	5.5
Restructuring charges	7.8
Reduction of prior restructuring accruals	0.9
Cash payments and other adjustments	(3.8)
Balance, end of period	8.6
Total Restructuring Reserve	8.6		8.6
Covance Drug Development [Member] \| Lease and Other Facility Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	4.7
Restructuring charges	6.4
Reduction of prior restructuring accruals	5.3
Cash payments and other adjustments	(15.5)
Balance, end of period	2.3
Total Restructuring Reserve	$ 2.3		$ 2.3

GOODWILL AND INTANGIBLE ASSETS (Changes in Carrying Amount of Goodwill) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Amortization of intangibles and other assets	$ 60,100,000	$ 60,200,000	$ 122,400,000	$ 117,300,000
Severance Costs			10,500,000	$ 20,300,000
Intangible Assets, Gross (Excluding Goodwill)	5,848,100,000		5,848,100,000			$ 5,885,600,000
Balance as of January 1			7,865,000,000.0
Adjustments to goodwill			(28,000,000.0)
Balance at end of period	7,422,700,000		7,422,700,000
Finite-Lived Intangible Assets, Accumulated Amortization	1,970,900,000		1,970,900,000			1,851,100,000
Intangible Assets, Net (Excluding Goodwill)	3,877,200,000		3,877,200,000			4,034,500,000
Goodwill, Impairment Loss			422,400,000
Goodwill, Acquired During Period			8,100,000
LabCorp Diagnostics [Member]
Goodwill [Line Items]
Goodwill and Intangible Asset Impairment			11,000,000.0
Balance as of January 1			3,721,500,000
Adjustments to goodwill			6,400,000
Balance at end of period	3,732,300,000		3,732,300,000
Goodwill, Impairment Loss			3,700,000
Percentage Fair Value of Goodwill Exceeded Carrying Value					10.00%
Percentage Change in Discount Rate Used to Calculate Fair Value of Goodwill					1.00%
Value of Goodwill Impairment Following a Percentage Change in the Discount Rate Used to Calculate Goodwill for Reporting Unit					$ 40,000,000.0
Value of Reporting Units Goodwill Fair Value Exceeds Carrying Value	84.4		84.4
Goodwill, Acquired During Period			8,100,000
Covance Drug Development [Member]
Goodwill [Line Items]
Goodwill and Intangible Asset Impairment			426,400,000
Balance as of January 1			4,143,500,000
Adjustments to goodwill			(34,400,000)
Balance at end of period	3,690,400,000		3,690,400,000
Goodwill, Impairment Loss			418,700,000
Percentage Fair Value of Goodwill Exceeded Carrying Value					10.00%
Percent Change in Discount Rate Used to Calculate Fair Value of Goodwill for Reporting Unit					1.00%
Percent of Fair Value Exceeding Carrying Value Post Percent Change in Discount Rate Used to Calculate Fair Value of Goodwill for Reporting Unit					2.00%
Value of Reporting Unit's Goodwill Following Impairment					$ 1,560,500,000
Value of Reporting Units Goodwill Fair Value Exceeds Carrying Value	628,500,000		628,500,000
Goodwill, Acquired During Period			0
Customer Relationships [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	4,424,300,000		4,424,300,000			4,441,700,000
Finite-Lived Intangible Assets, Accumulated Amortization	1,419,900,000		1,419,900,000			1,329,500,000
Intangible Assets, Net (Excluding Goodwill)	3,004,400,000		3,004,400,000			3,112,200,000
Patents, Licenses And Technology [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	449,000,000.0		449,000,000.0			453,600,000
Finite-Lived Intangible Assets, Accumulated Amortization	245,500,000		245,500,000			235,700,000
Intangible Assets, Net (Excluding Goodwill)	203,500,000		203,500,000			217,900,000
Noncompete Agreements [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	96,200,000		96,200,000			90,900,000
Finite-Lived Intangible Assets, Accumulated Amortization	65,000,000.0		65,000,000.0			60,500,000
Intangible Assets, Net (Excluding Goodwill)	31,200,000		31,200,000			30,400,000
Trade Names [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	408,100,000		408,100,000			408,200,000
Finite-Lived Intangible Assets, Accumulated Amortization	234,300,000		234,300,000			219,900,000
Intangible Assets, Net (Excluding Goodwill)	173,800,000		173,800,000			188,300,000
Use Rights [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	10,800,000		10,800,000			10,900,000
Finite-Lived Intangible Assets, Accumulated Amortization	6,200,000		6,200,000			5,500,000
Intangible Assets, Net (Excluding Goodwill)	4,600,000		4,600,000			5,400,000
Canadian licenses [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	459,700,000		459,700,000			480,300,000
Finite-Lived Intangible Assets, Accumulated Amortization	0		0			0
Intangible Assets, Net (Excluding Goodwill)	$ 459,700,000		459,700,000			$ 480,300,000
Trade Names [Member] \| Covance Drug Development [Member]
Goodwill [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)			$ 2,700,000

GOODWILL AND INTANGIBLE ASSETS (Components of identifiable intangible assets) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 5,848.1	$ 5,885.6
Accumulated Amortization	(1,970.9)	(1,851.1)
Intangible Assets, Net (Excluding Goodwill)	3,877.2	4,034.5
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	4,424.3	4,441.7
Accumulated Amortization	(1,419.9)	(1,329.5)
Intangible Assets, Net (Excluding Goodwill)	3,004.4	3,112.2
Patents, Licenses And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	449.0	453.6
Accumulated Amortization	(245.5)	(235.7)
Intangible Assets, Net (Excluding Goodwill)	203.5	217.9
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	96.2	90.9
Accumulated Amortization	(65.0)	(60.5)
Intangible Assets, Net (Excluding Goodwill)	31.2	30.4
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	408.1	408.2
Accumulated Amortization	(234.3)	(219.9)
Intangible Assets, Net (Excluding Goodwill)	173.8	188.3
Use Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	10.8	10.9
Accumulated Amortization	(6.2)	(5.5)
Intangible Assets, Net (Excluding Goodwill)	4.6	5.4
Canadian licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	459.7	480.3
Accumulated Amortization	0.0	0.0
Intangible Assets, Net (Excluding Goodwill)	$ 459.7	$ 480.3

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($)	3 Months Ended		6 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 5,848,100,000		$ 5,848,100,000			$ 5,885,600,000
Goodwill	7,422,700,000		7,422,700,000			7,865,000,000.0
Amortization of intangibles and other assets	60,100,000	$ 60,200,000	122,400,000	$ 117,300,000
Amortization of intangible assets	60,100,000	$ 60,200,000	122,400,000	$ 117,300,000
Finite-Lived Intangible Assets, Future Amortization Expense
Estimated amortization expense, 2012	118,200,000		118,200,000
Estimated amortization expense, 2013	235,600,000		235,600,000
Estimated amortization expense, 2014	229,600,000		229,600,000
Estimated amortization expense, 2015	224,200,000		224,200,000
Estimated amortization expense, 2016	219,200,000		219,200,000
Estimated amortization expense, Thereafter	2,311,100,000		2,311,100,000
LabCorp Diagnostics [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	3,732,300,000		3,732,300,000			3,721,500,000
Value of Goodwill Impairment Following a Percentage Change in the Discount Rate Used to Calculate Goodwill for Reporting Unit					$ 40,000,000.0
Covance Drug Development [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 3,690,400,000		$ 3,690,400,000			$ 4,143,500,000

DEBT (Short-term borrowings and current portion of long-term debt) (Table) (Details) - USD ($)
$ in Millions

3 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Jun. 03, 2019

Short-term Debt [Line Items]

$ 375.0

Total short-term borrowings and current portion of long-term debt

$ 790.8

415.2

2019 Term Loan

$ 375.0

0.0

$ 850.0

Short-term borrowings and current portion of long-term debt

Short-term borrowings and the current portion of long-term debt at June 30, 2020, and December 31, 2019, consisted of the following:


	June 30, 2020		December 31, 2019

4.625% senior notes due 2020	$	414.6	$	413.7
2019 Term Loan	375.0		—
Debt issuance costs	(1.0)		(0.7)
Current portion of note payable	2.2		2.2
Total short-term borrowings and current portion of long-term debt	$	790.8	$	415.2

Senior notes due 2020 [Member]

Short-term Debt [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.625%

Senior notes due 2022 [Member]

Short-term Debt [Line Items]

Senior Notes, Noncurrent

$ 500.0

DEBT (Long-term debt) (Details) - USD ($)
$ in Millions

3 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Long-term Debt [Text Block]

Long-term debt at June 30, 2020, and December 31, 2019, consisted of the following:


	June 30, 2020		December 31, 2019



3.20% senior notes due 2022	$	500.0	$	500.0
3.75% senior notes due 2022	500.0		500.0
4.00% senior notes due 2023	300.0		300.0
3.25% senior notes due 2024	600.0		600.0
3.60% senior notes due 2025	1,000.0		1,000.0
3.60% senior notes due 2027	600.0		600.0
4.70% senior notes due 2045	900.0		900.0
2.30% senior notes due 2024	400.0		400.0
2.95% senior notes due 2029	650.0		650.0

2019 Term Loan	—		375.0

Debt issuance costs	(39.8)		(42.2)

Note payable	6.4		7.0
Total long-term debt	$	5,416.6	$	5,789.8

Line of Credit Facility, Fair Value of Amount Outstanding

$ 5,416.6

$ 5,789.8

375.0

Line of Credit Facility, Maximum Borrowing Capacity

1,000.0

Credit Facility Option to Increase

350.0

Credit Facility, Maximum Swing Line Borrowings

100.0

2019 Term Loan [Member]

Line of Credit Facility, Fair Value of Amount Outstanding

$ 0.0

Senior notes due 2020 [Member]

Stated interest rate percentage

4.625%

Senior notes due 2022 [Member]

Senior notes due 2023 [Member]

$ 500.0

500.0

Senior Notes, Noncurrent

500.0

Senior notes due 2025 [Member] [Member]

300.0

Senior notes due 2045 [Member]

1,000.0

Revolving Credit Facility [Member]

900.0

$ 900.0

Credit Facility, Maximum Letters of Credit

$ 150.0

Prime Rate [Member] | Revolving Credit Facility [Member]

Line of Credit Facility, Interest Rate Description

0.00% to 0.25%

2019 Term Loan [Member]