0000920148-24-000099 | 10-Q | XBRL Viewer

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net earnings attributable to the Company by the weighted average number of shares of the Company's common stock outstanding. Diluted earnings 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 per share to diluted earnings per share for the three and six months ended June 30:


	Three Months Ended June 30,										Six Months Ended June 30,
	2024					2023					2024					2023
	Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount
Basic earnings per share:
Net earnings	$	205.3	84.1	$	2.44	$	155.0	88.7	$	1.75	$	433.3	84.1	$	5.15	$	363.0	88.6	$	4.10
Dilutive effect of employee stock options and awards	—		0.2			—		0.3			—		0.4			—		0.4


Net earnings including impact of dilutive adjustments	$	205.3	84.3	$	2.43	$	155.0	89.0	$	1.74	$	433.3	84.5	$	5.13	$	363.0	89.0	$	4.08

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,
	2024	2023	2024	2023
Employee stock options and awards	0.4	0.5	0.3	0.4

Insider Trading Arrangements

3 Months Ended

Jun. 30, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

Insider Adoption or Termination of Trading Arrangements:

During the fiscal quarter ended June 30, 2024, none of the Company's directors or officers informed it of the adoption, modification or termination of a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Regulation S-K, Item 408, except as described in the table below:

Name and Title

Date Adopted

Character of Trading Agreement

Aggregate Number of Shares of Common Stock to be (Sold) Purchased Pursuant to Trading Agreement

Duration

Kerrii B. Anderson

May 3, 2024

Rule 10b5-1 Trading Arrangement

Up to

(3,000)

(1)

5/3/2025(2)

Director

(1) The figure presented represents the shares to be sold on the vesting of equity awards before reduction for shares to be withheld for tax purposes

(2) This trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all sales on the respective order entry date or (b) the date listed in the table.

Rule 10b5-1 Arrangement Adopted

true

Non-Rule 10b5-1 Arrangement Adopted

false

Adoption Date

May 3, 2024

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Kerrii Anderson [Member]

Trading Arrangements, by Individual

Name

Kerrii B. Anderson

Title

Director

Aggregate Available

3,000

BUSINESS ACQUISITIONS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
BUSINESS ACQUISITIONS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Combinations [Abstract]
Payments to Acquire Businesses, Net of Cash Acquired			$ 293.1	$ 136.9
Business Acquisition [Line Items]
Goodwill, Acquired During Period			141.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	$ 23.9		23.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	(334.9)		(334.9)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(11.8)		(11.8)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	323.1		323.1
Business Acquisition, Pro Forma Revenue	3,100.5	$ 3,220.9	6,412.0	6,206.5
Business Acquisition, Pro Forma Net Income (Loss)	193.4	$ 205.3	432.8	409.5
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	8.1		8.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	1.8		1.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	(159.4)		(159.4)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	0.0		0.0
Payments to Acquire Businesses, Net of Cash Acquired			293.1	136.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	3.7		3.7
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	293.1		293.1
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory			0.0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment			(3.9)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period			0.0
Escrow Deposit	30.0		30.0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles			7.4
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets			(3.9)
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	8.1		8.1
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities			(3.9)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents			0.0
Estimated amortization expense, 2012	125.0		125.0
Gain (Loss) on Disposition of Business			(4.9)
Prepaid Expenses and Other Current Assets [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period				0.6
Other Noncurrent Liabilities [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period				(2.3)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities	0.0
Operating lease liability
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities	(3.9)
Accrued Liabilities [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period				(8.3)
Goodwill [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				(29.4)
Goodwill [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period			(7.4)
Other Noncurrent Assets [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period			0.0
Other acquirees
Business Combinations [Abstract]
Finite-lived Intangible Assets Acquired			159.4	84.1
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			159.4	84.1
Goodwill, Acquired During Period			141.7	50.8
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment				(1.5)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period				0.0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles				19.5
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets				(10.6)
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities				(10.6)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents				$ 0.2
Providence Medical Foundation
Business Acquisition [Line Items]
Goodwill, Acquired During Period			25.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	(55.8)		(55.8)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(0.9)		(0.9)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(0.9)		(0.9)
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	0.9		0.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	29.0		29.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	54.9		54.9
Escrow Deposit	0.0		0.0
Westpac Labs, Inc.
Business Acquisition [Line Items]
Goodwill, Acquired During Period			45.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	(97.7)		(97.7)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	0.0		0.0
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	1.8		1.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	50.8		50.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	97.7		97.7
Escrow Deposit	0.0		0.0
Cash Acquired in Excess of Payments to Acquire Business	0.0
Baystate Medical Center
Business Acquisition [Line Items]
Goodwill, Acquired During Period			70.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	(157.5)		(157.5)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(7.2)		(7.2)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(10.9)		(10.9)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	146.6		146.6
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	7.2		7.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	79.6		79.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	3.7		3.7
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	116.6		116.6
Escrow Deposit	30.0		30.0
Cash Acquired in Excess of Payments to Acquire Business	0.0
Other Acquisitions
Business Acquisition [Line Items]
Escrow Deposit	0.0		0.0
Invitae Corporation
Business Acquisition [Line Items]
Goodwill, Acquired During Period			0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	23.9		23.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	(23.9)		(23.9)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	0.0		0.0
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	0.0		0.0
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	23.9		23.9
Escrow Deposit	0.0		0.0
Cash Acquired in Excess of Payments to Acquire Business	$ 0.0
Business Combination, Price of Acquisition, Expected			239.0
BioReference Health
Business Acquisition [Line Items]
Business Combination, Price of Acquisition, Expected			$ 237.5
Customer Lists \| Maximum [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			15 years	15 years
Customer Lists \| Minimum [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			7 years

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)	3 Months Ended	6 Months Ended
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Current assets:
Accounts Receivable, after Allowance for Credit Loss, Current	$ 2,088,900,000	$ 2,088,900,000	$ 1,913,300,000
Unbilled Contracts Receivable	157,500,000	157,500,000	185,400,000
Supplies inventories	441,800,000	441,800,000	474,600,000
Prepaid expenses and other	618,000,000.0	618,000,000.0	655,300,000
Total current assets	3,571,300,000	3,571,300,000	3,765,400,000
Property, plant and equipment, net	2,932,500,000	2,932,500,000	2,911,800,000
Goodwill, net	6,220,200,000	6,220,200,000	6,142,500,000
Intangible Assets, Net (Excluding Goodwill)	3,332,000,000	3,332,000,000	3,342,000,000
Joint venture partnerships and equity method investments	17,500,000	17,500,000	26,900,000
Other assets, net	638,800,000	638,800,000	536,500,000
Total assets	16,712,300,000	16,712,300,000	16,725,100,000
Liabilities, Current [Abstract]
Accounts Payable, Current	760,600,000	760,600,000	827,500,000
Accrued Liabilities, Current	707,500,000	707,500,000	804,000,000.0
Deferred Revenue, Current	388,300,000	388,300,000	421,700,000
Operating Lease, Liability, Current	182,100,000	182,100,000	165,800,000
Finance Lease, Liability, Current	6,700,000	6,700,000	6,400,000
Current debt excluding finance lease liability	2,019,500,000	2,019,500,000	999,800,000
Long-term debt, less current portion	4,064,700,000	4,064,700,000	3,225,200,000
Long-term Debt, Excluding Current Maturities	3,047,300,000	3,047,300,000	4,054,700,000
Commitments and contingent liabilities	483,900,000	483,900,000	409,300,000
Operating Lease, Liability, Noncurrent	642,600,000	642,600,000	648,900,000
Finance Lease, Liability, Noncurrent	76,900,000	76,900,000	78,600,000
Deferred income taxes and other tax liabilities	376,100,000	376,100,000	417,900,000
Noncontrolling interest	8,691,500,000	8,691,500,000	8,834,600,000
Shareholders' equity:
Common stock, 92.8 and 93.5 shares outstanding at March 31, 2013 and December 31, 2012, respectively	15,000,000.0	15,000,000.0	15,500,000
Additional paid-in capital	12,500,000	12,500,000	38,400,000
Retained earnings	7,700,000	7,700,000	7,700,000
Accumulated other comprehensive income	(8,177,600,000)	(8,177,600,000)	(7,888,200,000)
Total liabilities and shareholders' equity	(192,000,000.0)	(192,000,000.0)	(59,300,000)
Stockholders' Equity Attributable to Parent	8,005,800,000	8,005,800,000	7,875,000,000
Liabilities and Equity	16,712,300,000	16,712,300,000	16,725,100,000
Net earnings	205,600,000	433,900,000
Cash and cash equivalents	$ 265,100,000	$ 265,100,000	$ 536,800,000

Revenue from Contract with Customer (Policies)

3 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

REVENUES

The Company's revenues by segment and by payers/customer groups for the three and six months ended June 30, 2024, and 2023, were as follows:


	For the Three Months Ended June 30, 2024								For the Three Months Ended June 30, 2023
	North America		Europe		Other		Total		North America		Europe		Other		Total
Payer/Customer
Dx
Clients	24	%	—	%	—	%	24	%	24	%	—	%	—	%	24	%
Patients	10	%	—	%	—	%	10	%	10	%	—	%	—	%	10	%
Medicare and Medicaid	8	%	—	%	—	%	8	%	8	%	—	%	—	%	8	%
Third party	36	%	—	%	—	%	36	%	35	%	—	%	—	%	35	%
Total Dx revenues by payer	78	%	—	%	—	%	78	%	77	%	—	%	—	%	77	%
BLS




Pharmaceutical, biotechnology, and medical device companies	9	%	9	%	4	%	22	%	10	%	9	%	4	%	23	%
Total revenues	87	%	9	%	4	%	100	%	87	%	9	%	4	%	100	%


	For the Six Months Ended June 30, 2024								For the Six Months Ended June 30, 2023
	North America		Europe		Other		Total		North America		Europe		Other		Total
Payer/Customer
Dx
Clients	24	%	—	%	—	%	24	%	25	%	—	%	—	%	25	%
Patients	10	%	—	%	—	%	10	%	10	%	—	%	—	%	10	%
Medicare and Medicaid	8	%	—	%	—	%	8	%	8	%	—	%	—	%	8	%
Third party	36	%	—	%	—	%	36	%	35	%	—	%	—	%	35	%
Total Dx revenues by payer	78	%	—	%	—	%	78	%	78	%	—	%	—	%	78	%
BLS




Pharmaceutical, biotechnology, and medical device companies	9	%	9	%	4	%	22	%	9	%	9	%	4	%	22	%
Total revenues	87	%	9	%	4	%	100	%	87	%	9	%	4	%	100	%

Revenues in the U.S. were $2,698.8 (83.8%) and $2,537.0 (83.6%) for the three months ended June 30, 2024 and 2023, respectively, and were $5,353.4 (83.7%) and $5,094.4 (83.9%) for the six months ended June 30, 2024 and 2023, respectively.

Accounts Receivable, Unbilled Services and Unearned Revenue

The following table provides information about accounts receivable, unbilled services, and unearned revenue from contracts with customers as of June 30, 2024 and December 31, 2023:


	June 30, 2024		December 31, 2023
Dx accounts receivable	$	1,331.4	$	1,135.2
BLS accounts receivable	791.6		810.8
Less BLS allowance for doubtful accounts	(34.1)		(32.7)
Accounts receivable	$	2,088.9	$	1,913.3

Gross unbilled services	$	159.3	$	192.9
Less reserve for unbilled services	(1.8)		(7.5)
Unbilled services	$	157.5	$	185.4

Unearned revenue	$	388.3	$	421.7

Revenues recognized during the period that were included in the unearned revenue balance at the beginning of the period were $26.8 and $20.2 for the three months ended June 30, 2024 and 2023, respectively, and $77.8 and $72.8 for the six months ended June 30, 2024 and 2023, respectively.

Credit Loss Rollforward

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, 2024, was as follows:


	Accounts Receivable		Unbilled Services		Note and Other Receivables		Total
Balance as of December 31, 2023	$	32.7	$	7.5	$	0.7	$	40.9
Plus, credit loss expense	3.4		—		—		3.4

Less, write offs	2.0		5.7		—		7.7
Balance as of June 30, 2024	$	34.1	$	1.8	$	0.7	$	36.6

The credit loss expense in the first six months primarily related to the collection risk from several biotech receivable balances.

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY

3 Months Ended

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Changes in common shares issued and held in treasury

The changes in common shares issued during the six months ended June 30, 2024 are summarized below:


			Issued and Outstanding
Common shares at December 31, 2023			83.9
Shares issued under employee stock plans			0.4


Shares repurchased			(0.5)

Common shares at June 30, 2024			83.8

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

The components of accumulated other comprehensive earnings (loss) during the six months ended June 30, 2024 were as follows:


	Foreign Currency Translation Adjustments		Net Benefit Plan Adjustments		Accumulated Other Comprehensive Earnings (Loss)
Balance as of December 31, 2023	$	(47.6)	$	(11.7)	$	(59.3)

Current year adjustments	(131.5)		(1.5)		(133.0)

Amounts reclassified from accumulated other comprehensive income	—		(0.2)		(0.2)
Tax effect of adjustments	—		0.5		0.5
Balance as of June 30, 2024	$	(179.1)	$	(12.9)	$	(192.0)

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, 2024, and December 31, 2023.

The changes in common shares issued during the six months ended June 30, 2024 are summarized below:


			Issued and Outstanding
Common shares at December 31, 2023			83.9
Shares issued under employee stock plans			0.4


Shares repurchased			(0.5)

Common shares at June 30, 2024			83.8

Share Repurchase Program

When the Company repurchases shares of Common Stock, 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.

During the six months ended June 30, 2024, the Company purchased 0.5 shares of its common stock at an average price of $202.66 for a total cost of $100.0. As of June 30, 2024, the Company had outstanding authorization from the board of directors to purchase up to $430.4 of the Company's common stock. On July 24, 2024, the Board adopted a new share repurchase plan authorizing up to $1,000.0 of the Company's shares in addition to the remaining amount outstanding under the previous plan. In aggregate, the share repurchase authorization is $1,430.4.

Dividends

For the six months ended June 30, 2024, the Company paid $122.5 in common stock dividends. On July 25, 2024, the Company announced a cash dividend of $0.72 per share of common stock for the third quarter, or approximately $61.2 in the aggregate. The dividend will be payable on September 13, 2024, to stockholders of record of all issued and outstanding shares of common stock as of the close of business on August 29, 2024. The declaration and payment of any future dividends will be at the discretion of the Company's board of directors.

Accumulated Other Comprehensive Earnings (Loss)

The components of accumulated other comprehensive earnings (loss) during the six months ended June 30, 2024 were as follows:


	Foreign Currency Translation Adjustments		Net Benefit Plan Adjustments		Accumulated Other Comprehensive Earnings (Loss)
Balance as of December 31, 2023	$	(47.6)	$	(11.7)	$	(59.3)

Current year adjustments	(131.5)		(1.5)		(133.0)

Amounts reclassified from accumulated other comprehensive income	—		(0.2)		(0.2)
Tax effect of adjustments	—		0.5		0.5
Balance as of June 30, 2024	$	(179.1)	$	(12.9)	$	(192.0)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
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+ Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2024

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, 2024, were as follows:


	Dx		BLS		Total

Balance as of December 31, 2023	$	4,813.9	$	1,328.6	$	6,142.5
Goodwill acquired during the period	141.7		—		141.7



Foreign currency impact and other adjustments to goodwill	(10.7)		(53.3)		(64.0)
Balance as of June 30, 2024	$	4,944.9	$	1,275.3	$	6,220.2

Schedule of Intangible Assets and Goodwill [Table Text Block]

he components of identifiable intangible assets were as follows:


	June 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	3,947.8	$	(1,444.1)	$	2,503.7	$	3,868.6	$	(1,367.2)	$	2,501.4
Patents, licenses, and technology	520.3		(283.1)		237.2		526.6		(273.3)		253.3
Non-compete agreements	152.4		(72.5)		79.9		130.3		(60.4)		69.9


Canadian licenses	495.1		—		495.1		498.8		—		498.8
Other	34.1		(18.0)		16.1		34.1		(15.5)		18.6
	5,149.7		(1,817.7)		3,332.0		5,058.4		(1,716.4)		3,342.0

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 433.9	$ 402.4
Earnings from discontinued operations, net of tax	0.0	(38.8)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	311.4	285.0
Stock compensation	62.4	67.3
Operating lease right-of-use asset expense	88.6	85.1
Goodwill and other asset impairments	2.5	5.0
Deferred income taxes	(39.1)	16.2
Other	36.6	3.1
Change in assets and liabilities (net of effects of acquisitions and divestitures):
Increase (Decrease) in Accounts Receivable	(192.2)	(107.6)
Increase (Decrease) in Unbilled Contract Receivable	26.8	74.1
Increase (Decrease) in Inventories	27.7	(16.1)
Increase (Decrease) in Prepaid Expense and Other Assets	(21.6)	30.2
Increase (Decrease) in Accounts Payable	(51.7)	(160.3)
Increase (Decrease) in Deferred Revenue	(30.8)	34.8
Decrease in accrued expenses and other	(166.4)	(272.8)
Net Cash Provided by (Used in) Operating Activities, Total	531.3	472.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(262.0)	(181.5)
Proceeds from sale of assets	0.2	0.2
Proceeds from Sales of Business, Affiliate and Productive Assets	13.5	0.0
Investments in equity affiliates	(36.7)	(10.4)
Acquisition of businesses, net of cash acquired	(293.1)	(136.9)
Net cash used for investing activities	(578.1)	(353.3)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facilities	951.9	1,420.9
Payments on revolving credit facilities	(932.1)	(1,420.9)
Net share settlement tax payments from issuance of stock to employees	37.8	38.7
Net proceeds from issuance of stock to employees	26.7	54.4
Dividends paid	122.5	129.0
Purchase of common stock	(100.0)	0.0
Other	7.9	11.4
Net cash (used for) provided by financing activities	(221.7)	1,484.4
Effect of exchange rate changes on cash and cash equivalents	(3.2)	6.3
Net (decrease) increase in cash and cash equivalents	(271.7)	1,610.0
Cash and cash equivalents at beginning of period	536.8	430.0
Cash and cash equivalents at end of period	265.1	1,930.6
Discontinued Operations
Change in assets and liabilities (net of effects of acquisitions and divestitures):
Net cash provided by discontinued operating activities	0.0	125.4
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used for discontinued investing activities	0.0	(24.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash provided by discontinued financing activities	0.0	1,609.1
Continuing Operations
Change in assets and liabilities (net of effects of acquisitions and divestitures):
Net cash provided by continuing operating activities	531.3	347.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used for continuing investing activities	(578.1)	(328.6)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash used for continuing financing activities	(221.7)	(124.7)
Less: Cash and cash equivalents of discontinued operations at end of period	$ 0.0	$ 109.4

FAIR VALUE MEASUREMENTS

3 Months Ended

Jun. 30, 2024

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, 2024, and December 31, 2023, was as follows:


				Fair Value Measurements as of
				June 30, 2024
	Balance Sheet	Fair Value as of		Using Fair Value Hierarchy
	Classification	June 30, 2024		Level 1		Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.0	$	—	$	15.0	$	—
Cross currency swaps	Other liabilities	103.6		—		103.6		—
Interest rate swaps	Other liabilities	79.7		—		79.7		—


Cash surrender value of life insurance policies	Other assets, net	96.4		—		96.4		—
Deferred compensation asset	Other assets, net	31.0		—		31.0		—
Deferred compensation liability	Other liabilities	125.3		—		125.3		—

Contingent consideration	Accrued expenses and other; Other liabilities	20.0		—		—		20.0


				Fair Value Measurements as of
				December 31, 2023
	Balance Sheet	Fair Value as of		Using Fair Value Hierarchy
	Classification	December 31, 2023		Level 1		Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.5	$	—	$	15.5	$	—
Cross currency swaps	Accrued expenses and other; Other liabilities	109.0		—		109.0		—
Interest rate swaps	Other liabilities, net	69.6		—		69.6		—
Cash surrender value of life insurance policies	Other assets, net	95.4		—		95.4		—
Deferred compensation asset	Other assets, net	21.1		—		21.1		—
Deferred compensation liability	Other liabilities	107.4		—		107.4		—

Contingent consideration	Accrued expenses and other; Other liabilities	66.1		—		—		66.1

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 multiple 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 participant's 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 accrued earn-out business 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 $4,812.3 and $4,850.4 as of June 30, 2024, and December 31, 2023, 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.

- Definition

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.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Section 55
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+ Details

BUSINESS ACQUISITIONS	6 Months Ended
BUSINESS ACQUISITIONS	Jun. 30, 2024
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS ACQUISITIONS AND DISPOSITIONS During the six months ended June 30, 2024, the Company acquired several businesses and related assets for cash of approximately $293.1. These acquisitions consisted of the clinical and outreach businesses of Baystate Medical Center ($116.6), Providence Medical Foundation ($54.9), and Westpac Labs, Inc. ($97.7) and an escrow payment of $23.9 for selected assets of the Invitae Corporation that is anticipated to close on August 5, 2024. The preliminary purchase considerations for these acquisitions were allocated under the acquisition method of accounting to the estimated fair market value of the net assets acquired, including approximately $159.4 in identifiable intangible assets. A residual amount of tax deductible goodwill of approximately $141.7 was recorded as of June 30, 2024. The amortization period for non-compete agreements and customer list assets acquired from these businesses are 5 and 15 years, respectively. The valuation of acquired assets and assumed liabilities, include the following:

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Aug. 01, 2024
Document Information [Table]
Entity Common Stock, Shares Outstanding		83,963,277
Entity Central Index Key	0000920148
Document Fiscal Year Focus	2024
Entity Registrant Name	LABCORP HOLDINGS INC.
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		83,963,277
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-11353
Entity Registrant Name	LABCORP HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	99-2588107
Entity Address, Address Line One	358 South Main Street
Entity Address, City or Town	Burlington,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27215
City Area Code	336
Local Phone Number	229-1127
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	LH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000920148

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Group, Including Discontinued Operation, Revenue		$ 766.5	$ 1,506.6
Disposal Group, Including Discontinued Operation, Costs of Goods Sold		629.1	1,244.5
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)		137.4	262.1
Disposal Group, Including Discontinued Operation, General and Administrative Expense		85.4	184.1
Disposal Group, Including Discontinued Operation, Depreciation and Amortization		16.0	31.9
Disposal Group, Including Discontinued Operation, Restructuring and other charges		4.1	3.0
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		31.9	43.1
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax		40.2	45.6
Discontinued Operation, Tax Effect of Discontinued Operation		6.3	6.8
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 0.0	33.9	0.0	$ 38.8
Disposal Group, Including Discontinued Operation, Fortrea Senior Notes					$ 570.0
Disposal Group, Including Discontinued Operation, Fortrea Senior Notes Interest Rate					7.50%
Disposal Group, Including Discontinued Operation, Fortrea Distribution	$ 1,600.0		1,600.0
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					$ 1,520.0
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					1,520.0
Disposal Group, Including Discontinued Operations, Other Nonoperating income (expense)		$ 8.3	2.5
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent			$ 38.8
Fortrea Revolver due 2028
Discontinued Operations and Disposal Groups [Abstract]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					450.0
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					450.0
Fortrea Term Loan A maturing 2028
Discontinued Operations and Disposal Groups [Abstract]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					500.0
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					500.0
Fortrea Term Loan B maturing 2028
Discontinued Operations and Disposal Groups [Abstract]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					570.0
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Fortrea Credit Facilities					$ 570.0

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Provision for income taxes	$ 62.1	$ 49.8	$ 131.2	$ 113.7
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	205.6	155.2	433.9	363.6
Foreign currency translation adjustments	(7.2)	51.7	(131.5)	99.8
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax	0.7	1.1	(1.7)	2.3
Other comprehensive earnings (loss) before tax	(6.5)	52.8	(133.2)	102.1
Tax effect of adjustments	(0.1)	(0.3)	0.5	(0.6)
Other comprehensive earnings (loss), net of tax	(6.6)	52.5	(132.7)	101.5
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	0.0	33.9	0.0	38.8
Net earnings	205.6	189.1	433.9	402.4
Net Income (Loss) Attributable to Noncontrolling Interest	0.3	0.2	0.6	0.6
Net Income (Loss) Attributable to Parent	205.3	188.9	433.3	401.8
Net earnings	205.6	189.1	433.9	402.4
Comprehensive earnings	199.0	241.6	301.2	503.9
Less: Net earnings attributable to the noncontrolling interest	(0.3)	(0.2)	(0.6)	(0.6)
Comprehensive earnings attributable to Laboratory Corporation of America Holdings	$ 198.7	$ 241.4	$ 300.6	$ 503.3

BASIS OF FINANCIAL STATEMENT PRESENTATION (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Asset Impairment Charges	$ 0.0		$ 2.8		$ 2.5	$ 5.0
Revenues	3,220.9		$ 3,033.7		6,397.5	$ 6,071.5
Contract with Customer, Liability	$ 388.3				$ 388.3		$ 421.7
Percent of Revenue Contributed	100.00%		100.00%		100.00%	100.00%
Ownership percentage below which investments are generally accounted for on the cost method (in thousandths)					20.00%
Provision for income taxes	$ 62.1		$ 49.8		$ 131.2	$ 113.7
Net Income (Loss) Attributable to Parent	205.3	$ 228.0	188.9	$ 212.9	433.3	401.8
Stockholders' Equity Attributable to Parent	8,005.8	$ 7,959.6	10,341.5	$ 8,785.0	8,005.8	10,341.5	7,875.0	$ 10,096.6
Deferred Revenue, Revenue Recognized	26.8		$ 20.2		77.8	$ 72.8
Cash and cash equivalents	$ 265.1				$ 265.1		$ 536.8
LabCorp Diagnostics [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of Revenue Contributed	78.00%		77.00%		78.00%	78.00%

Intangible Assets, Goodwill and Other (Policies)

3 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Goodwill, Policy

6. GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the six months ended June 30, 2024, were as follows:


	Dx		BLS		Total

Balance as of December 31, 2023	$	4,813.9	$	1,328.6	$	6,142.5
Goodwill acquired during the period	141.7		—		141.7



Foreign currency impact and other adjustments to goodwill	(10.7)		(53.3)		(64.0)
Balance as of June 30, 2024	$	4,944.9	$	1,275.3	$	6,220.2

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. The Company recognizes an impairment charge for the amount by which the reporting unit's carrying amount exceeds its fair value.

Although the Company believes that the current assumptions and estimates used in its goodwill analysis are reasonable, supportable, and appropriate, the Company's business could be impacted by unfavorable changes, including those that impact the existing assumptions used in the impairment analysis. Various factors could reasonably be expected to unfavorably impact existing assumptions: primarily, a worsening economic environment and protracted economic downturn and related impacts, including delays in revenue from new customers; increases in customer termination activity; or increases in operating costs. 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. 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 were as follows:


	June 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	3,947.8	$	(1,444.1)	$	2,503.7	$	3,868.6	$	(1,367.2)	$	2,501.4
Patents, licenses, and technology	520.3		(283.1)		237.2		526.6		(273.3)		253.3
Non-compete agreements	152.4		(72.5)		79.9		130.3		(60.4)		69.9


Canadian licenses	495.1		—		495.1		498.8		—		498.8
Other	34.1		(18.0)		16.1		34.1		(15.5)		18.6
	5,149.7		(1,817.7)		3,332.0		5,058.4		(1,716.4)		3,342.0

Amortization of intangible assets for the three and six months ended June 30, 2024, and 2023, was $62.2 and $51.5 and $122.3 and $104.9, respectively. The amortization expense for the net carrying amount of intangible assets is estimated to be $125.0 for the remainder of fiscal 2024, $237.2 in fiscal 2025, $228.2 in fiscal 2026, $216.9 in fiscal 2027, $209.1 in fiscal 2028, and $1,735.8 thereafter.

GOODWILL AND INTANGIBLE ASSETS (Components of identifiable intangible assets) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 5,149.7	$ 5,058.4
Finite-Lived Intangible Assets, Accumulated Amortization	(1,817.7)	(1,716.4)
Intangible Assets, Net (Excluding Goodwill)	3,332.0	3,342.0
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	3,947.8	3,868.6
Finite-Lived Intangible Assets, Accumulated Amortization	(1,444.1)	(1,367.2)
Intangible Assets, Net (Excluding Goodwill)	2,503.7	2,501.4
Patents, Licenses And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	520.3	526.6
Finite-Lived Intangible Assets, Accumulated Amortization	(283.1)	(273.3)
Intangible Assets, Net (Excluding Goodwill)	237.2	253.3
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	152.4	130.3
Finite-Lived Intangible Assets, Accumulated Amortization	(72.5)	(60.4)
Intangible Assets, Net (Excluding Goodwill)	79.9	69.9
Canadian licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	495.1	498.8
Finite-Lived Intangible Assets, Accumulated Amortization	0.0	0.0
Intangible Assets, Net (Excluding Goodwill)	495.1	498.8
In Process R&A and Media
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	34.1	34.1
Finite-Lived Intangible Assets, Accumulated Amortization	(18.0)	(15.5)
Intangible Assets, Net (Excluding Goodwill)	$ 16.1	$ 18.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Shares [Abstract]
Net earnings, basic (in shares)	84.1	88.7	84.1	88.6
Dilutive effect of employee stock options and awards, (in shares)	0.2	0.3	0.4	0.4
Income (Loss) from Continuing Operations, Per Diluted Share	$ 2.43	$ 1.74	$ 5.13	$ 4.08
Per Share Amount [Abstract]
Net Income (Loss) Available to Common Stockholders, Diluted	$ 205.3	$ 155.0	$ 433.3	$ 363.0
Weighted Average Number of Shares Outstanding, Diluted	84.3	89.0	84.5	89.0
Income (Loss) from Continuing Operations, Per Basic Share	$ 2.44	$ 1.75	$ 5.15	$ 4.10
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$ 205.3

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

+ Details

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY - Accumulated Other Comprehensive Earnings (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The components of accumulated other comprehensive earnings (loss) during the six months ended June 30, 2024 were as follows:


	Foreign Currency Translation Adjustments		Net Benefit Plan Adjustments		Accumulated Other Comprehensive Earnings (Loss)
Balance as of December 31, 2023	$	(47.6)	$	(11.7)	$	(59.3)

Current year adjustments	(131.5)		(1.5)		(133.0)

Amounts reclassified from accumulated other comprehensive income	—		(0.2)		(0.2)
Tax effect of adjustments	—		0.5		0.5
Balance as of June 30, 2024	$	(179.1)	$	(12.9)	$	(192.0)

Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment and Tax

$ (1,500,000)

Other Comprehensive Income (Loss), before Reclassifications, before Tax

(133,000,000.0)

Accumulated Other Comprehensive Earnings [Roll Forward]

Foreign Currency Translation Adjustments, Beginning balance

(47,600,000)

Other comprehensive income before reclassifications

(131,500,000)

Tax effect of adjustments

Foreign Currency Translation Adjustments, Ending balance

$ (179,100,000)

(179,100,000)

Net Benefit Plan Adjustments, Beginning balance

(11,700,000)

Tax effect of adjustments

500,000

Net Benefit Plan Adjustments, Ending balance

(12,900,000)

Accumulated Other Comprehensive Earnings, Beginning balance

(59,300,000)

Other comprehensive income before reclassifications

(131,500,000)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax

(200,000)

Tax effect of adjustments

(100,000)

$ (300,000)

500,000

$ (600,000)

Accumulated Other Comprehensive Earnings, Ending balance

$ (192,000,000.0)

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	6 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	$ 15.0	$ 15.5
Foreign Currency Contracts, Liability, Fair Value Disclosure	103.6
Fair market value of senior notes	4,812.3	4,850.4
Cash Surrender Value, Fair Value Disclosure	96.4	95.4
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	125.3	107.4
Contingent Consideration Classified as Equity, Fair Value Disclosure	20.0	66.1
Foreign Currency Contract, Asset, Fair Value Disclosure		109.0
Fair Value Hedges, Net	79.7	69.6
Tax effect of adjustments	0.0
Long-term Debt, Excluding Current Maturities	3,047.3	4,054.7
Senior notes due 2027 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Long-term Debt, Excluding Current Maturities	600.0
Senior notes due 2022 [Member] \| 2018 Swap Agreements
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative, Notional Amount	300.0
Senior notes due 2024 \| 2022 Swap Agreements
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Derivative, Notional Amount	300.0
Level 1 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	0.0	0.0
Cash Surrender Value, Fair Value Disclosure	0.0	0.0
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	0.0	0.0
Contingent Consideration Classified as Equity, Fair Value Disclosure	0.0	0.0
Foreign Currency Contract, Asset, Fair Value Disclosure	0.0	0.0
Fair Value Hedges, Net	0.0	0.0
Deferred Compensation Plan Assets	0.0	0.0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	15.0	15.5
Foreign Currency Contracts, Liability, Fair Value Disclosure	103.6
Cash Surrender Value, Fair Value Disclosure	96.4	95.4
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	125.3	107.4
Contingent Consideration Classified as Equity, Fair Value Disclosure	0.0	0.0
Foreign Currency Contract, Asset, Fair Value Disclosure		109.0
Fair Value Hedges, Net	79.7	69.6
Deferred Compensation Plan Assets	31.0	21.1
Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	0.0	0.0
Cash Surrender Value, Fair Value Disclosure	0.0	0.0
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	0.0	0.0
Contingent Consideration Classified as Equity, Fair Value Disclosure	20.0	66.1
Foreign Currency Contract, Asset, Fair Value Disclosure	0.0	0.0
Fair Value Hedges, Net	0.0	0.0
Deferred Compensation Plan Assets	$ 0.0	$ 0.0

DEBT (Short-term borrowings and current portion of long-term debt) (Table) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Current debt excluding finance lease liability	$ 2,019.5	$ 999.8
Notes Payable	0.5	1.1
3.60% senior notes due 2025	0.0	1,000.0
4.00% senior notes due 2023	400.0	400.0
Short term debt issuance costs	(1.0)	(1.3)
Line of Credit, Current	20.0	0.0
Other Current Liabilities
Short-term Debt [Line Items]
3.60% senior notes due 2025	1,000.0	0.0
3.25% senior notes due 2024	$ 600.0	$ 600.0

Discontinued Operations and Disposal Groups

3 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure

2. DISCONTINUED OPERATIONS

On June 30, 2023 (the Distribution Date), Labcorp completed the previously announced separation (the Separation) from the Company of Fortrea Holdings Inc. (Fortrea), formerly the Company's Clinical Development and Commercialization Services (CDCS) business, into a separate, publicly-traded company. All historical operating results of Fortrea are presented as Discontinued Operations, net of tax, in the Condensed Consolidated Statements of Operations. The spin-off is expected to be treated as tax-free for the Company and its shareholders for U.S. federal income tax purposes.

The spin-off of Fortrea from Labcorp was achieved through the Company’s pro-rata distribution of 100% of the outstanding shares of Fortrea common stock to holders of record of Labcorp common stock. Each holder of record of Labcorp common stock received one share of Fortrea common stock for every share of Labcorp common stock held at 5:00 p.m., Burlington, North Carolina, time on June 20, 2023, the record date for the distribution.

In June 2023, Fortrea, prior to the Separation and while a subsidiary of the Company, issued $570.0 of 7.500% senior secured notes due 2030 (the Fortrea Notes). The proceeds from the Fortrea Notes were used to fund cash payments of

approximately $1,600.0 to the Company in connection with the Separation. The Company does not guarantee the Fortrea Notes following the Separation. Also in June 2023, Fortrea entered into three floating secured overnight financing rate (SOFR) credit facilities totaling $1,520.0. These are comprised of a $450.0 Revolver maturing June 30, 2028; a $500.0 Term Loan A maturing June 30, 2028; and a $570.0 Term Loan B maturing June 30, 2030.

In connection with the spin-off, the Company entered into several agreements with Fortrea on or prior to the Distribution Date that, among other things, provide a framework for the Company’s relationship with Fortrea after the spin-off, including a separation and distribution agreement, a tax matters agreement, an employee matters agreement, and a transition services agreement. These agreements contain the key provisions relating to the spin-off, including provisions relating to the principal intercompany transactions required to effect the spin-off, the conditions to the spin-off and provisions governing the relationship between Fortrea and the Company after the spin-off. The costs to provide these services are included in operating income but the service fees are included in other income.

Financial Information of Discontinued Operations

Earnings from discontinued operations, net of tax in the Consolidated Statements of Operations reflect the after-tax results of Fortrea's business and Separation-related fees, and do not include any allocation of general corporate overhead expense or interest expense of the Company.

The following table summarizes the significant line items included in Earnings from Discontinued Operations, Net of Tax in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023:


	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
Revenues	$	766.5	$	1,506.6
Cost of revenues	629.1		1,244.5
Gross profit	137.4		262.1
Selling, general and administrative expenses	85.4		184.1
Amortization of intangibles and other assets	16.0		31.9

Restructuring and other charges	4.1		3.0
Operating income	31.9		43.1
Other income (expense):



Other, net	8.3		2.5
Earnings before income taxes	40.2		45.6
Provision for income taxes	6.3		6.8


Net earnings attributable to Labcorp Holdings Inc.	$	33.9	$	38.8

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 30, 2024

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, 2024, and December 31, 2023, was as follows:


				Fair Value Measurements as of
				June 30, 2024
	Balance Sheet	Fair Value as of		Using Fair Value Hierarchy
	Classification	June 30, 2024		Level 1		Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.0	$	—	$	15.0	$	—
Cross currency swaps	Other liabilities	103.6		—		103.6		—
Interest rate swaps	Other liabilities	79.7		—		79.7		—


Cash surrender value of life insurance policies	Other assets, net	96.4		—		96.4		—
Deferred compensation asset	Other assets, net	31.0		—		31.0		—
Deferred compensation liability	Other liabilities	125.3		—		125.3		—

Contingent consideration	Accrued expenses and other; Other liabilities	20.0		—		—		20.0


				Fair Value Measurements as of
				December 31, 2023
	Balance Sheet	Fair Value as of		Using Fair Value Hierarchy
	Classification	December 31, 2023		Level 1		Level 2		Level 3
Noncontrolling interest put	Noncontrolling interest	$	15.5	$	—	$	15.5	$	—
Cross currency swaps	Accrued expenses and other; Other liabilities	109.0		—		109.0		—
Interest rate swaps	Other liabilities, net	69.6		—		69.6		—
Cash surrender value of life insurance policies	Other assets, net	95.4		—		95.4		—
Deferred compensation asset	Other assets, net	21.1		—		21.1		—
Deferred compensation liability	Other liabilities	107.4		—		107.4		—

Contingent consideration	Accrued expenses and other; Other liabilities	66.1		—		—		66.1

REVENUE Disaggregated Revenue Table (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Accounts Receivable, Allowance for Credit Loss	$ 34.1		$ 34.1		$ 32.7
Unbilled Services, Allowance for Credit Loss	1.8		1.8		7.5
Note Receivable, Allowance for Credit Loss	0.7		0.7		0.7
Allowance for Credit Loss	36.6		36.6		40.9
Current Expected Credit Losses Opening Balance Sheet Impact on Retained Earnings			3.4
Allowance for Credit Loss, Write Off			7.7
Deferred Revenue, Revenue Recognized	26.8	$ 20.2	77.8	$ 72.8
Contract with Customer, Asset, before Allowance for Credit Loss	159.3		159.3		192.9
Contract with Customer, Liability	388.3		388.3		421.7
Unbilled Contracts Receivable	$ 157.5		$ 157.5		185.4
Percent of Revenue Contributed	100.00%	100.00%	100.00%	100.00%
Revenues	$ 3,220.9	$ 3,033.7	$ 6,397.5	$ 6,071.5
Accounts Receivable, after Allowance for Credit Loss, Current	2,088.9		2,088.9		1,913.3
Allowance for Credit Loss, Receivable, Other, Current	(1.8)		(1.8)		(7.5)
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$ 157.5		$ 157.5		185.4
Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	9.00%	9.00%	9.00%	9.00%
North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	87.00%	87.00%	87.00%	87.00%
Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	4.00%	4.00%	4.00%	4.00%
UNITED STATES
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	83.80%	83.60%	83.70%	83.90%
Revenues	$ 2,698.8	$ 2,537.0	$ 5,353.4	$ 5,094.4
Medicare and Medicaid [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	8.00%	8.00%	8.00%	8.00%
LabCorp Diagnostics [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	78.00%	77.00%	78.00%	78.00%
LabCorp Diagnostics [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	78.00%	77.00%	78.00%	78.00%
LabCorp Diagnostics [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Client [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	24.00%	24.00%	24.00%	25.00%
LabCorp Diagnostics [Member] \| Client [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Client [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	24.00%	24.00%	24.00%	25.00%
LabCorp Diagnostics [Member] \| Client [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Self-Pay [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	10.00%	10.00%	10.00%	10.00%
LabCorp Diagnostics [Member] \| Self-Pay [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Self-Pay [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	10.00%	10.00%	10.00%	10.00%
LabCorp Diagnostics [Member] \| Self-Pay [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Medicare and Medicaid [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Medicare and Medicaid [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	8.00%	8.00%	8.00%	8.00%
LabCorp Diagnostics [Member] \| Medicare and Medicaid [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Third party [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	36.00%	35.00%	36.00%	35.00%
LabCorp Diagnostics [Member] \| Third party [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
LabCorp Diagnostics [Member] \| Third party [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	36.00%	35.00%	36.00%	35.00%
LabCorp Diagnostics [Member] \| Third party [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	0.00%	0.00%	0.00%	0.00%
Covance Drug Development [Member] \| Biopharmaceutical and medical device companies [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed		23.00%
Covance Drug Development [Member] \| Biopharmaceutical and medical device companies [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed		9.00%
Covance Drug Development [Member] \| Biopharmaceutical and medical device companies [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed		10.00%
Covance Drug Development [Member] \| Biopharmaceutical and medical device companies [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed		4.00%
Diagnostics
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	78.00%
Accounts Receivable, before Allowance for Credit Loss	$ 1,331.4		$ 1,331.4		1,135.2
Drug Development
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	22.00%
Accounts Receivable, before Allowance for Credit Loss	$ 791.6		$ 791.6		$ 810.8
Drug Development \| Biopharmaceutical and medical device companies [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	22.00%		22.00%	22.00%
Drug Development \| Biopharmaceutical and medical device companies [Member] \| Europe [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	9.00%		9.00%	9.00%
Drug Development \| Biopharmaceutical and medical device companies [Member] \| North America
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	9.00%		9.00%	9.00%
Drug Development \| Biopharmaceutical and medical device companies [Member] \| Other countries [Member]
Disaggregation of Revenue [Line Items]
Percent of Revenue Contributed	4.00%		4.00%	4.00%
Notes Receivable [Member]
Disaggregation of Revenue [Line Items]
Current Expected Credit Losses Opening Balance Sheet Impact on Retained Earnings			$ 0.0
Allowance for Credit Loss, Write Off			0.0
Unbilled Contracts Receivable [Member]
Disaggregation of Revenue [Line Items]
Current Expected Credit Losses Opening Balance Sheet Impact on Retained Earnings			0.0
Allowance for Credit Loss, Write Off			5.7
Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Current Expected Credit Losses Opening Balance Sheet Impact on Retained Earnings			3.4
Allowance for Credit Loss, Write Off			$ 2.0

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

3 Months Ended

Jun. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information


	Six Months Ended June 30,
	2024		2023

Cash paid during period for:
Interest	$	106.6	$	109.5
Income taxes, net of refunds	153.0		133.3
Disclosure of non-cash financing and investing activities:



Change in accrued property, plant, and equipment	(19.2)		16.5

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jun. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 817.0
Enhanced Damages
Loss Contingencies [Line Items]
Loss Contingency, Damages Awarded, Value	100.0
Initial Damages
Loss Contingencies [Line Items]
Loss Contingency, Damages Awarded, Value	$ 272.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SUPPLEMENTAL CASH FLOW INFORMATION

3 Months Ended

Jun. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

SUPPLEMENTAL CASH FLOW INFORMATION


	Six Months Ended June 30,
	2024		2023

Cash paid during period for:
Interest	$	106.6	$	109.5
Income taxes, net of refunds	153.0		133.3
Disclosure of non-cash financing and investing activities:



Change in accrued property, plant, and equipment	(19.2)		16.5

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY (Details) - USD ($)		3 Months Ended				6 Months Ended
	Jul. 25, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jul. 24, 2024
Class of Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		430,400,000				430,400,000
Common Shares Outstanding Rollforward [Abstract]
Common shares outstanding, beginning balance (in shares)			83,900,000			83,900,000
Common shares outstanding, ending balance (in shares)		83,800,000				83,800,000
Rollforward of common shares held in treasury
Common Stock, Shares Authorized		265,000,000.0				265,000,000.0
Common Stock, Par or Stated Value Per Share		$ 0.10				$ 0.10
Preferred Stock, Shares Authorized		30,000,000.0				30,000,000.0
Preferred Stock, Par or Stated Value Per Share		$ 0.10				$ 0.10
Preferred Stock, Shares Outstanding		0				0
Tax effect of adjustments						$ 0
Dividends		$ 60,200,000	$ 60,900,000		$ 64,700,000
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax						(200,000)
Foreign currency translation adjustments		(7,200,000)		$ 51,700,000		$ (131,500,000)	$ 99,800,000
Stock Repurchased and Retired During Period, Shares						(500,000)
Purchase of common stock						$ (100,000,000.0)	$ 0
Treasury Stock Acquired, Average Cost Per Share						$ 202.66
Dividends		$ 60,200,000	$ 60,900,000		$ 64,700,000
Subsequent Event [Member]
Class of Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased								1,430,400,000
Rollforward of common shares held in treasury
Dividends Payable, Date of Record	Aug. 29, 2024
Dividends Payable, Date Declared	Jul. 25, 2024
Dividends Payable, Amount Per Share	$ 0.72
Dividends	$ 61,200,000
Dividends Payable, Date to be Paid	Sep. 13, 2024
Share Repurchase Program, Authorized, Amount								$ 1,000,000,000
Dividends Payable, Date Declared	Jul. 25, 2024
Dividends Payable, Date to be Paid	Sep. 13, 2024
Dividends Payable, Date of Record	Aug. 29, 2024
Dividends Payable, Amount Per Share	$ 0.72
Dividends	$ 61,200,000
Common Stock [Member]
Rollforward of common shares issued
Common shares issued, beginning balance (in shares)			83,900,000			83,900,000
Commons Stock Issued During Period Shares Employee Stock Plans						400,000
Common shares issued, ending balance (in shares)		83,800,000				83,800,000
Common Stock, Shares, Issued		83,800,000				83,800,000
Common Shares Outstanding Rollforward [Abstract]
Commons Stock Issued During Period Shares Employee Stock Plans						400,000
Commons Stock Issued During Period Shares Employee Stock Plans						400,000
Rollforward of common shares held in treasury
Stock Repurchased and Retired During Period, Shares						(500,000)

DEBT (Credit Facilities) (Details) - USD ($)	3 Months Ended
DEBT (Credit Facilities) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Revolving Credit Facility, maximum borrowing capacity	$ 1,000,000,000
Line of Credit Facility, Commitment Fee Description	0.10% to 0.225%
Notes Payable	$ 500,000	$ 1,100,000
Credit Facility Option to Increase	500,000,000.0
Credit Facility, Maximum Swing Line Borrowings	100,000,000.0
Letters of Credit Outstanding, Amount	90,700,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility, Maximum Letters of Credit	$ 150,000,000.0
Line of Credit Facility, Interest Rate at Period End	6.44%

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss	$ 34.1	$ 32.7
Shareholders' Equity:
Common stock, shares outstanding (in shares)	83.8	83.9

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]
BALANCE at Dec. 31, 2022	$ 10,096.6	$ 8.1	$ 0.0	$ 10,581.7	$ (493.2)
Net earnings attributable to Labcorp Holdings Inc.	212.9	0.0	0.0	212.9	0.0
Other comprehensive earnings, net of tax	49.0	0.0	0.0	0.0	49.0
Dividends	64.7	0.0	0.0	64.7	0.0
Issuance of common stock under employee stock plans	(27.6)	0.0	(27.6)	0.0	0.0
Surrender of restricted stock and performance share awards	(20.5)	0.0	(20.5)	0.0	0.0
Stock compensation	40.6	0.0	40.6	0.0	0.0
BALANCE at Mar. 31, 2023	8,785.0	8.1	94.4	8,836.2	(153.7)
BALANCE at Dec. 31, 2022	10,096.6	8.1	0.0	10,581.7	(493.2)
Net earnings attributable to Labcorp Holdings Inc.	401.8
Other comprehensive earnings, net of tax	101.5
BALANCE at Jun. 30, 2023	10,341.5	8.1	47.7	10,729.9	(444.2)
BALANCE at Mar. 31, 2023	8,785.0	8.1	94.4	8,836.2	(153.7)
Net earnings attributable to Labcorp Holdings Inc.	188.9	0.0	0.0	188.9	0.0
Other comprehensive earnings, net of tax	52.5	0.0	0.0	0.0	52.5
Dividends		0.0	0.0	64.5	0.0
Issuance of common stock under employee stock plans	(26.8)	0.0	(26.8)	0.0	0.0
Surrender of restricted stock and performance share awards	(18.2)	0.0	(18.2)	0.0	0.0
Stock compensation	38.1	0.0	38.1	0.0	0.0
BALANCE at Jun. 30, 2023	10,341.5	8.1	47.7	10,729.9	(444.2)
Stockholders' Equity Note, Spinoff Transaction	(1,780.1)	0.0	0.0	(2,018.1)	238.0
Dividends, Cash	(64.5)
Retained Earnings (Accumulated Deficit)	7,888.2
BALANCE at Dec. 31, 2023	7,875.0	7.7	38.4	7,888.2	(59.3)
Net earnings attributable to Labcorp Holdings Inc.	228.0	0.0	0.0	228.0	0.0
Other comprehensive earnings, net of tax	(126.1)	0.0	0.0	0.0	(126.1)
Dividends	60.9	0.0	0.0	60.9	0.0
Issuance of common stock under employee stock plans	(26.7)	0.0	(26.7)	0.0	0.0
Surrender of restricted stock and performance share awards	(14.7)	0.0	(14.7)	0.0	0.0
Stock compensation	31.6	0.0	31.6	0.0	0.0
BALANCE at Mar. 31, 2024	7,959.6	7.7	82.0	8,055.3	(185.4)
BALANCE at Dec. 31, 2023	7,875.0	7.7	38.4	7,888.2	(59.3)
Net earnings attributable to Labcorp Holdings Inc.	433.3
Other comprehensive earnings, net of tax	(132.7)
BALANCE at Jun. 30, 2024	8,005.8	7.7	12.5	8,177.6	(192.0)
BALANCE at Mar. 31, 2024	7,959.6	7.7	82.0	8,055.3	(185.4)
Net earnings attributable to Labcorp Holdings Inc.	205.3	0.0	0.0	205.3	0.0
Other comprehensive earnings, net of tax	(6.6)	0.0	0.0	0.0	(6.6)
Dividends	60.2	0.0	0.0	60.2	0.0
Surrender of restricted stock and performance share awards	(23.1)	0.0	(23.1)	0.0	0.0
Stock compensation	30.8	0.0	30.8	0.0	0.0
BALANCE at Jun. 30, 2024	8,005.8	7.7	12.5	8,177.6	(192.0)
Purchase of common stock	(100.0)	$ 0.0	$ 77.2	$ 22.8	$ 0.0
Retained Earnings (Accumulated Deficit)	$ 8,177.6

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES

REVENUE (Tables)

3 Months Ended

Jun. 30, 2024

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, 2024, was as follows:


	Accounts Receivable		Unbilled Services		Note and Other Receivables		Total
Balance as of December 31, 2023	$	32.7	$	7.5	$	0.7	$	40.9
Plus, credit loss expense	3.4		—		—		3.4

Less, write offs	2.0		5.7		—		7.7
Balance as of June 30, 2024	$	34.1	$	1.8	$	0.7	$	36.6

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


	June 30, 2024		December 31, 2023
Dx accounts receivable	$	1,331.4	$	1,135.2
BLS accounts receivable	791.6		810.8
Less BLS allowance for doubtful accounts	(34.1)		(32.7)
Accounts receivable	$	2,088.9	$	1,913.3

Gross unbilled services	$	159.3	$	192.9
Less reserve for unbilled services	(1.8)		(7.5)
Unbilled services	$	157.5	$	185.4

Unearned revenue	$	388.3	$	421.7

Disaggregation of Revenue [Table Text Block]

The Company's revenues by segment and by payers/customer groups for the three and six months ended June 30, 2024, and 2023, were as follows:


	For the Three Months Ended June 30, 2024								For the Three Months Ended June 30, 2023
	North America		Europe		Other		Total		North America		Europe		Other		Total
Payer/Customer
Dx
Clients	24	%	—	%	—	%	24	%	24	%	—	%	—	%	24	%
Patients	10	%	—	%	—	%	10	%	10	%	—	%	—	%	10	%
Medicare and Medicaid	8	%	—	%	—	%	8	%	8	%	—	%	—	%	8	%
Third party	36	%	—	%	—	%	36	%	35	%	—	%	—	%	35	%
Total Dx revenues by payer	78	%	—	%	—	%	78	%	77	%	—	%	—	%	77	%
BLS




Pharmaceutical, biotechnology, and medical device companies	9	%	9	%	4	%	22	%	10	%	9	%	4	%	23	%
Total revenues	87	%	9	%	4	%	100	%	87	%	9	%	4	%	100	%


	For the Six Months Ended June 30, 2024								For the Six Months Ended June 30, 2023
	North America		Europe		Other		Total		North America		Europe		Other		Total
Payer/Customer
Dx
Clients	24	%	—	%	—	%	24	%	25	%	—	%	—	%	25	%
Patients	10	%	—	%	—	%	10	%	10	%	—	%	—	%	10	%
Medicare and Medicaid	8	%	—	%	—	%	8	%	8	%	—	%	—	%	8	%
Third party	36	%	—	%	—	%	36	%	35	%	—	%	—	%	35	%
Total Dx revenues by payer	78	%	—	%	—	%	78	%	78	%	—	%	—	%	78	%
BLS




Pharmaceutical, biotechnology, and medical device companies	9	%	9	%	4	%	22	%	9	%	9	%	4	%	22	%
Total revenues	87	%	9	%	4	%	100	%	87	%	9	%	4	%	100	%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

DEBT (Long-term debt) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
4.00% senior notes due 2023	$ 400.0	$ 400.0
3.60% senior notes due 2025	0.0	1,000.0
1.55% senior notes due 2026	500.0	500.0
3.60% senior notes due 2027	600.0	600.0
2.95% senior notes due 2029	650.0	650.0
4.70% senior notes due 2045	900.0	900.0
Long term debt issuance costs	23.4	26.3
Notes Payable, Noncurrent	0.4	0.6
Long-term Debt, Excluding Current Maturities	3,047.3	$ 4,054.7
Senior notes due 2027 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	$ 600.0

BUSINESS SEGMENT INFORMATION Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Percent of Revenue Contributed	100.00%	100.00%	100.00%	100.00%
Revenues	$ 3,220.9	$ 3,033.7	$ 6,397.5	$ 6,071.5
Operating Income (Loss)	294.8	266.3	616.1	596.1
Amortization of Intangible Assets	(62.2)	(51.5)	(122.3)	(104.9)
Net Restructuring Charges	(11.6)	(15.8)	(16.6)	(23.3)
Goodwill and Intangible Asset Impairment	0.0	(2.8)	(2.5)	(5.0)
Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)	548.9	514.3	1,066.7	1,029.4
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	11.0	6.1	25.0	12.4
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (180.3)	$ (177.9)	$ (309.2)	$ (300.1)
LabCorp Diagnostics [Member]
Segment Reporting Information [Line Items]
Percent of Revenue Contributed	78.00%	77.00%	78.00%	78.00%
Diagnostics
Segment Reporting Information [Line Items]
Percent of Revenue Contributed	78.00%
Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 2,524.9	$ 2,340.8	$ 5,004.6	$ 4,723.6
Operating Income (Loss)	$ 441.5	409.7	859.4	851.2
Drug Development
Segment Reporting Information [Line Items]
Percent of Revenue Contributed	22.00%
Drug Development \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 707.0	699.0	1,417.9	1,360.3
Operating Income (Loss)	$ 107.4	$ 104.6	$ 207.3	$ 178.2

BUSINESS SEGMENT INFORMATION Business Segment information (Notes)

3 Months Ended

Jun. 30, 2024

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, 2024, and 2023. 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. The Corporate costs not allocated to segments include the costs of centralized functions, other charges such as acquisition expenses, spin-off costs, remaining unallocated costs of the CDCS business, and COVID-19 related costs unrelated to the segment. Centralized functions include corporate governance, executive management and related human resources, finance, legal, risk management, and information technology functions.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenues:
Dx	$	2,524.9	$	2,340.8	$	5,004.6	$	4,723.6
BLS	707.0		699.0		1,417.9		1,360.3
Intercompany eliminations and other	(11.0)		(6.1)		(25.0)		(12.4)
Total revenues	$	3,220.9	$	3,033.7	$	6,397.5	$	6,071.5

Operating Earnings:
Dx segment operating income	$	441.5	$	409.7	$	859.4	$	851.2
BLS segment operating income	107.4		104.6		207.3		178.2
Segment operating income	548.9		514.3		1,066.7		1,029.4
General corporate and unallocated expenses	(180.3)		(177.9)		(309.2)		(300.1)
Amortization of intangibles and other assets	(62.2)		(51.5)		(122.3)		(104.9)
Goodwill and other asset impairments	—		(2.8)		(2.5)		(5.0)
Restructuring and other charges	(11.6)		(15.8)		(16.6)		(23.3)


Total operating income	$	294.8	$	266.3	$	616.1	$	596.1

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
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+ Details

EARNINGS PER SHARE (Tables)

3 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Reconciliation of Basic earnings per Share to Diluted Earnings per Share

The following represents a reconciliation of basic earnings per share to diluted earnings per share for the three and six months ended June 30:


	Three Months Ended June 30,										Six Months Ended June 30,
	2024					2023					2024					2023
	Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount		Earnings		Shares	Per Share Amount
Basic earnings per share:
Net earnings	$	205.3	84.1	$	2.44	$	155.0	88.7	$	1.75	$	433.3	84.1	$	5.15	$	363.0	88.6	$	4.10
Dilutive effect of employee stock options and awards	—		0.2			—		0.3			—		0.4			—		0.4


Net earnings including impact of dilutive adjustments	$	205.3	84.3	$	2.43	$	155.0	89.0	$	1.74	$	433.3	84.5	$	5.13	$	363.0	89.0	$	4.08

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,
	2024	2023	2024	2023
Employee stock options and awards	0.4	0.5	0.3	0.4

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 5,149.7		$ 5,149.7		$ 5,058.4
Goodwill	6,220.2		6,220.2		6,142.5
Amortization of intangibles and other assets	62.2	$ 51.5	122.3	$ 104.9
Adjustments to goodwill			(64.0)
Estimated amortization expense, 2013	237.2		237.2
Estimated amortization expense, 2014	228.2		228.2
Estimated amortization expense, 2015	216.9		216.9
Estimated amortization expense, 2016	209.1		209.1
Estimated amortization expense, Thereafter	1,735.8		1,735.8
Current Expected Credit Losses Opening Balance Sheet Impact on Retained Earnings			3.4
Amortization of intangible assets	62.2	$ 51.5	122.3	$ 104.9
LabCorp Diagnostics [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	4,944.9		4,944.9		4,813.9
Adjustments to goodwill			(10.7)
Covance Drug Development [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,275.3		1,275.3		$ 1,328.6
Adjustments to goodwill			$ (53.3)

REVENUE (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
REVENUE (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred Revenue, Revenue Recognized	$ 26.8	$ 20.2	$ 77.8	$ 72.8

GOODWILL AND INTANGIBLE ASSETS (Changes in Carrying Amount of Goodwill) (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2023

Goodwill [Line Items]

Amortization of intangibles and other assets

$ 62.2

$ 51.5

$ 122.3

$ 104.9

Intangible Assets, Gross (Excluding Goodwill)

5,149.7

$ 5,058.4

Balance as of January 1

6,142.5

Adjustments to goodwill

(64.0)

Balance at end of period

6,220.2

Finite-Lived Intangible Assets, Accumulated Amortization

1,817.7

1,716.4

Intangible Assets, Net (Excluding Goodwill)

$ 3,332.0

3,332.0

3,342.0

Goodwill, Acquired During Period

141.7

Goodwill [Roll Forward]

Goodwill and Intangible Assets, Goodwill, Policy

6. GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the six months ended June 30, 2024, were as follows:


	Dx		BLS		Total

Balance as of December 31, 2023	$	4,813.9	$	1,328.6	$	6,142.5
Goodwill acquired during the period	141.7		—		141.7



Foreign currency impact and other adjustments to goodwill	(10.7)		(53.3)		(64.0)
Balance as of June 30, 2024	$	4,944.9	$	1,275.3	$	6,220.2

The components of identifiable intangible assets were as follows:


	June 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	3,947.8	$	(1,444.1)	$	2,503.7	$	3,868.6	$	(1,367.2)	$	2,501.4
Patents, licenses, and technology	520.3		(283.1)		237.2		526.6		(273.3)		253.3
Non-compete agreements	152.4		(72.5)		79.9		130.3		(60.4)		69.9


Canadian licenses	495.1		—		495.1		498.8		—		498.8
Other	34.1		(18.0)		16.1		34.1		(15.5)		18.6
	5,149.7		(1,817.7)		3,332.0		5,058.4		(1,716.4)		3,342.0

LabCorp Diagnostics [Member]

Goodwill [Line Items]

Balance as of January 1

4,813.9

Adjustments to goodwill

(10.7)

Balance at end of period

$ 4,944.9

4,944.9

Goodwill, Acquired During Period

141.7

Covance Drug Development [Member]

Goodwill [Line Items]

Balance as of January 1

1,328.6

Adjustments to goodwill

(53.3)

Balance at end of period

1,275.3

Goodwill, Acquired During Period

0.0

Customer Relationships [Member]

Goodwill [Line Items]

Intangible Assets, Gross (Excluding Goodwill)

3,947.8

3,868.6

Finite-Lived Intangible Assets, Accumulated Amortization

1,444.1

1,367.2

Intangible Assets, Net (Excluding Goodwill)

2,503.7

2,501.4

Patents, Licenses And Technology [Member]

Goodwill [Line Items]

Intangible Assets, Gross (Excluding Goodwill)

520.3

526.6

Finite-Lived Intangible Assets, Accumulated Amortization

283.1

273.3

Intangible Assets, Net (Excluding Goodwill)

237.2

253.3

Noncompete Agreements [Member]

Goodwill [Line Items]

Intangible Assets, Gross (Excluding Goodwill)

152.4

130.3

Finite-Lived Intangible Assets, Accumulated Amortization

72.5

60.4

Intangible Assets, Net (Excluding Goodwill)

79.9

69.9

Canadian licenses [Member]

Goodwill [Line Items]

Intangible Assets, Gross (Excluding Goodwill)

495.1

498.8

Finite-Lived Intangible Assets, Accumulated Amortization

0.0

Intangible Assets, Net (Excluding Goodwill)

$ 495.1

$ 498.8

BASIS OF FINANCIAL STATEMENT PRESENTATION	3 Months Ended
BASIS OF FINANCIAL STATEMENT PRESENTATION	Jun. 30, 2024
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	BASIS OF FINANCIAL STATEMENT PRESENTATION Labcorp® Holdings Inc. (Labcorp® or the Company) is a global leader of innovative and comprehensive laboratory services that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. By leveraging its unparalleled diagnostics and drug development capabilities, the Company provides insights and accelerates innovations to improve health and improve lives. On April 25, 2024, the Company announced plans to implement a new public holding company structure, with Labcorp Holdings Inc. as the new holding company. On May 17, 2024, the Company completed the holding company reorganization (Reorganization) and Labcorp Holdings Inc. became the successor issuer to Laboratory Corporation of America Holdings (LCAH). The new holding company has no independent assets or operations and its sole ownership interest is in LCAH. The Company reports its business in two segments, Diagnostics Laboratories (Dx) and Biopharma Laboratory Services (BLS), formerly Drug Development. For further financial information about these segments, see Note 12 (Business Segment Information) to the Condensed Consolidated Financial Statements. During the three months ended June 30, 2024, Dx and BLS contributed approximately 78% and 22%, respectively, of revenues to the Company. During the six months ended June 30, 2024, Dx and BLS contributed approximately 78% and 22%, respectively, of revenues to the Company. 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 Securities and Exchange Commission (SEC) and do not contain certain information included in the Company’s fiscal year 2023 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. 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 (loss).”
Basis of Presentation and Significant Accounting Policies [Text Block]	BASIS OF FINANCIAL STATEMENT PRESENTATION Labcorp® Holdings Inc. (Labcorp® or the Company) is a global leader of innovative and comprehensive laboratory services that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. By leveraging its unparalleled diagnostics and drug development capabilities, the Company provides insights and accelerates innovations to improve health and improve lives. On April 25, 2024, the Company announced plans to implement a new public holding company structure, with Labcorp Holdings Inc. as the new holding company. On May 17, 2024, the Company completed the holding company reorganization (Reorganization) and Labcorp Holdings Inc. became the successor issuer to Laboratory Corporation of America Holdings (LCAH). The new holding company has no independent assets or operations and its sole ownership interest is in LCAH. The Company reports its business in two segments, Diagnostics Laboratories (Dx) and Biopharma Laboratory Services (BLS), formerly Drug Development. For further financial information about these segments, see Note 12 (Business Segment Information) to the Condensed Consolidated Financial Statements. During the three months ended June 30, 2024, Dx and BLS contributed approximately 78% and 22%, respectively, of revenues to the Company. During the six months ended June 30, 2024, Dx and BLS contributed approximately 78% and 22%, respectively, of revenues to the Company. 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 Securities and Exchange Commission (SEC) and do not contain certain information included in the Company’s fiscal year 2023 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. 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 (loss).”

DEBT (Senior Notes) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	$ 3,047.3	$ 4,054.7
Line of Credit Facility, Maximum Borrowing Capacity	1,000.0
Credit Facility Option to Increase	500.0
Credit Facility, Maximum Swing Line Borrowings	100.0
Long term debt issuance costs	23.4	26.3
Notes Payable	0.5	1.1
Foreign Currency Contract, Asset, Fair Value Disclosure		109.0
2.95% senior notes due 2029	650.0	650.0
Interest Rate Swap [Member]
Debt Instrument [Line Items]
2.70% senior notes due 2031	420.3	$ 430.4
Senior notes due 2027 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	$ 600.0

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 205.3	$ 228.0	$ 188.9	$ 212.9	$ 433.3	$ 401.8

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

SUPPLEMENTAL CASH FLOW INFORMATION Description Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid during period for:
Interest	$ 106.6	$ 109.5
Income taxes, net of refunds	153.0	133.3
Disclosure of non-cash financing and investing activities:
Decrease in Capital Expenditures Incurred but not yet Paid	$ (19.2)	$ 16.5

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Stock options (in shares)	0.4	0.5	0.3	0.4

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net restructuring and other special charges	$ 11.6	$ 15.8	$ 16.6	$ 23.3
Operating Income (Loss)	294.8	266.3	616.1	596.1
Interest Expense	47.6	49.8	94.5	100.5
Equity method income, net	(0.3)	0.9	(0.2)	(1.2)
Investment income	1.3	4.5	4.2	6.7
Other, net	19.5	(16.9)	39.5	(23.8)
Earnings before income taxes	267.7	205.0	565.1	477.3
Provision for income taxes	62.1	49.8	131.2	113.7
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	205.6	155.2	433.9	363.6
Net earnings	205.6	189.1	433.9	402.4
Net Income (Loss) Attributable to Noncontrolling Interest	0.3	0.2	0.6	0.6
Net earnings attributable to Labcorp Holdings Inc.	$ 205.3	$ 188.9	$ 433.3	$ 401.8
Income (Loss) from Continuing Operations, Per Basic Share	$ 2.44	$ 1.75	$ 5.15	$ 4.10
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share	0	0.38	0	0.43
Basic earnings per common share (in dollars per share)	2.44	2.13	5.15	4.53
Diluted earnings per common share (in dollars per share)	$ 2.43	$ 2.12	$ 5.13	$ 4.51
Revenues	$ 3,220.9	$ 3,033.7	$ 6,397.5	$ 6,071.5
Cost of Revenue	2,294.5	2,191.5	4,573.8	4,379.2
Gross Profit	926.4	842.2	1,823.7	1,692.3
Selling, general and administrative expenses	557.8	505.8	1,066.2	963.0
Amortization of intangibles and other assets	62.2	51.5	122.3	104.9
Asset Impairment Charges	0.0	2.8	2.5	5.0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 0.0	$ 33.9	$ 0.0	$ 38.8
Income (Loss) from Continuing Operations, Per Diluted Share	$ 2.43	$ 1.74	$ 5.13	$ 4.08
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	$ 0	$ 0.38	$ 0	$ 0.43
Revenues	$ 3,220.9	$ 3,033.7	$ 6,397.5	$ 6,071.5
Cost of Revenue	2,294.5	2,191.5	4,573.8	4,379.2
Gross Profit	926.4	842.2	1,823.7	1,692.3
Selling, general and administrative expenses	557.8	505.8	1,066.2	963.0
Amortization of intangibles and other assets	62.2	51.5	122.3	104.9
Asset Impairment Charges	0.0	2.8	2.5	5.0
Net restructuring and other special charges	11.6	15.8	16.6	23.3
Operating Income (Loss)	294.8	266.3	616.1	596.1
Earnings before income taxes	267.7	205.0	565.1	477.3
Provision for income taxes	62.1	49.8	131.2	113.7
Net earnings	205.6	189.1	433.9	402.4
Less: Net earnings attributable to the noncontrolling interest	(0.3)	(0.2)	(0.6)	(0.6)
Net earnings attributable to Labcorp Holdings Inc.	$ 205.3	$ 188.9	$ 433.3	$ 401.8
Basic earnings per common share (in dollars per share)	$ 2.44	$ 2.13	$ 5.15	$ 4.53
Diluted earnings per common share (in dollars per share)	$ 2.43	$ 2.12	$ 5.13	$ 4.51

Subsequent Events (Details) - USD ($)		3 Months Ended
Subsequent Events (Details) - USD ($)	Jul. 25, 2024	Jun. 30, 2024	Mar. 31, 2024	Mar. 31, 2023
Subsequent Event [Line Items]
Dividends		$ 60,200,000	$ 60,900,000	$ 64,700,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends	$ 61,200,000