DGX » Topics » (3) Property, Plant and Equipment

This excerpt taken from the DGX 10-K filed Feb 17, 2009.

          Property, Plant and Equipment

          Property, plant and equipment is recorded at cost. Major renewals and improvements are capitalized, while maintenance and repairs are expensed as incurred. Costs incurred for computer software developed or obtained for internal use are capitalized for application development activities and expensed as incurred for preliminary project activities and post-implementation activities. Capitalized costs include external direct costs of materials and services consumed in developing or obtaining internal-use software, payroll and payroll-related costs for employees who are directly associated with and who devote time to the internal-use software project, and interest costs incurred, when material, while developing internal-use software. Capitalization of such costs ceases when the project is substantially complete and ready for its intended purpose. Certain costs, such as maintenance and training, are expensed as incurred. The Company capitalizes interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the expected useful lives of the assets. Depreciation and amortization are provided on the straight-line method over expected useful asset lives as follows: buildings and improvements, ranging from ten to thirty years; laboratory equipment and furniture and fixtures, ranging from three to seven years; leasehold improvements, the lesser of the useful life of the improvement or the remaining life of the building or lease, as applicable; and computer software developed or obtained for internal use, ranging from three to seven years.

This excerpt taken from the DGX 10-K filed Feb 22, 2008.

7. PROPERTY, PLANT AND EQUIPMENT

          Property, plant and equipment at December 31, 2007 and 2006 consisted of the following:

 

 

 

 

 

 

 

 

 

 

2007

 

2006

 

 

 


 


 

 

 

 

 

 

 

 

 

Land

 

$

36,272

 

$

36,272

 

Buildings and improvements

 

 

360,442

 

 

332,610

 

Laboratory equipment, furniture and fixtures

 

 

1,042,890

 

 

886,065

 

Leasehold improvements

 

 

318,552

 

 

264,096

 

Computer software developed or obtained for internal use

 

 

255,408

 

 

189,083

 

Construction-in-progress

 

 

92,918

 

 

58,273

 

 

 



 



 

 

 

 

2,106,482

 

 

1,766,399

 

Less: accumulated depreciation and amortization

 

 

(1,194,484

)

 

(1,014,042

)

 

 



 



 

Total

 

$

911,998

 

$

752,357

 

 

 



 



 

F-22


QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(dollars in thousands unless otherwise indicated)

This excerpt taken from the DGX 10-K filed Mar 1, 2007.

          Property, Plant and Equipment

          Property, plant and equipment is recorded at cost. Major renewals and improvements are capitalized, while maintenance and repairs are expensed as incurred. Costs incurred for computer software developed or obtained for internal use are capitalized for application development activities and expensed as incurred for preliminary project activities and post-implementation activities. Capitalized costs include external direct costs of materials and services consumed in developing or obtaining internal-use software, payroll and payroll-related costs for employees who are directly associated with and who devote time to the internal-use software project, and interest costs incurred, when material, while developing internal-use software. Capitalization of such costs ceases when the project is substantially complete and ready for its intended purpose. Certain costs, such as maintenance and training, are expensed as incurred. The Company capitalizes interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Depreciation and amortization are provided on the straight-line method over expected useful asset lives as follows: buildings and improvements, ranging from ten to thirty years; laboratory equipment and furniture and fixtures, ranging from three to seven years; leasehold improvements, the lesser of the useful life of the improvement or the remaining life of the building or lease, as applicable; and computer software developed or obtained for internal use, ranging from three to five years.

This excerpt taken from the DGX 10-K filed Feb 28, 2006.

          Property, Plant and Equipment

          Property, plant and equipment is recorded at cost. Major renewals and improvements are capitalized, while maintenance and repairs are expensed as incurred. Costs incurred for computer software developed or obtained for internal use are capitalized for application development activities and expensed as incurred for preliminary project activities and post-implementation activities. Capitalized costs include external direct costs of materials and services consumed in developing or obtaining internal-use software, payroll and payroll-related costs for employees who are directly associated with and who devote time to the internal-use software project, and interest costs incurred, when material, while developing internal-use software. Capitalization of such costs ceases when the project is substantially complete and ready for its intended purpose. Certain costs, such as maintenance and training, are expensed as incurred. The Company capitalizes interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Depreciation and amortization are provided on the straight-line method over expected useful asset lives as follows: buildings and improvements, ranging from ten to thirty years; laboratory equipment and furniture and fixtures, ranging from three to seven years; leasehold improvements, the lesser of the useful life of the improvement or the remaining life of the building or lease, as applicable; and computer software developed or obtained for internal use, ranging from three to five years.

This excerpt taken from the DGX 8-K filed Jan 17, 2006.

(3) Property, Plant and Equipment

      Property, plant and equipment consist of the following:

      2004

  2003

      (in thousands)
      

Land

     $ 2,576        $ 2,576  
      

Building

       29,343          28,966  
      

Laboratory equipment

       22,528          24,699  
      

Data processing equipment and software

       56,808          42,510  
      

Office and transportation equipment

       16,629          14,199  
      

Leasehold improvements

       2,156          1,840  
      

Construction in progress

       12,122          1,839  
          
        
 
      

       142,162          116,629  
      

Less accumulated depreciation and amortization

       79,302          69,224  
          
        
 
      

     $ 62,860        $ 47,405  
          
        
 
      

               


LABONE, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 31, 2004, 2003 and 2002

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