Laboratory Corporation of America (LH) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document Information [Line Items]
Entity Registrant Name	LABORATORY CORP OF AMERICA HOLDINGS
Entity Central Index Key	920,148
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		102.4
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 696.3	$ 716.4
Accounts receivable, net of allowance for doubtful accounts of $198.4 and $191.5 at March 31, 2013 and December 31, 2012, respectively	1,328.5	1,217.9
Unbilled Contracts Receivable	171.8	156.6
Supplies inventories	188.2	191
Prepaid expenses and other	360.1	339.3
Total current assets	2,744.9	2,621.2
Property, plant and equipment, net	1,771.7	1,747.4
Goodwill, net	6,252.4	6,191.9
Intangible Assets, Net (Excluding Goodwill)	3,410.4	3,332.4
Joint venture partnerships and equity method investments	61.2	58.2
Deferred Income Taxes and Other Assets, Current	2.3	2.3
Other assets, net	167.5	150
Total assets	14,410.4	14,103.4
Current liabilities:
Accounts payable	466	497.4
Deferred Revenue, Current	584.9	633.1
Deferred Tax Liabilities, Net, Current	166.4	146.1
Debt, Current	425.4	423.9
Long-term debt, less current portion	1,642.7	1,700.5
Long-term Debt, Excluding Current Maturities	5,969.5	5,940.3
Commitments and contingent liabilities	322.7	323.1
Noncontrolling interest	9,228.1	9,224.5
Shareholders' equity:
Common stock, 92.8 and 93.5 shares outstanding at March 31, 2013 and December 31, 2012, respectively	15.8	14.9
Additional paid-in capital	2,022.8	1,974.5
Retained earnings	12	12
Accumulated other comprehensive income	(4,383.2)	(4,223)
Total shareholders' equity	(993.2)	(978.1)
Total liabilities and shareholders' equity	(258.3)	(367.4)
Stockholders' Equity Attributable to Parent	5,166.5	4,864
Deferred income taxes and other tax liabilities	1,293.2	1,260.6
Liabilities and Equity	$ 14,410.4	$ 14,103.4

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 232.9	$ 217
Shareholders' Equity:
Common stock, shares outstanding (in shares)	102.1	101.3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue, Net	$ 2,295.2	$ 1,772.3
Reimbursement Revenue	72.8	20.9
Revenues	2,368	1,793.2
Cost of sales	1,517.9	1,147.2
Cost of Reimbursable Expense	72.8	20.9
Cost of Revenue	1,590.7	1,168.1
Gross profit	777.3	625.1
Selling, general and administrative expenses	411.9	442.3
Amortization of intangibles and other assets	44.3	31.1
Net restructuring and other special charges	19.2	19.3
Operating Income (Loss)	301.9	132.4
Other income (expenses):
Interest expense	(54.5)	(104.3)
Equity method income, net	1.4	2.7
Investment income	0.5	0.6
Other, net	6.7	1.1
Earnings before income taxes	256	32.5
Provision for income taxes	95.5	29.1
Net earnings	160.5	3.4
Less: Net earnings attributable to the noncontrolling interest	(0.3)	(0.3)
Net earnings attributable to Laboratory Corporation of America Holdings	$ 160.2	$ 3.1
Basic earnings per common share (in dollars per share)	$ 1.58	$ 0.04
Diluted earnings per common share (in dollars per share)	$ 1.55	$ 0.04
Covance [Member]
Revenues	$ 2,146.4
Operating Income (Loss)	272.4
Other income (expenses):
Net earnings attributable to Laboratory Corporation of America Holdings	$ 125.1

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue, Net	$ 2,295.2	$ 1,772.3
Net restructuring and other special charges	19.2	19.3
Provision for income taxes	95.5	29.1
Net earnings	160.5	3.4
Other Comprehensive Earnings, Net of Tax
Foreign currency translation adjustments	134.9	(290.7)
Net benefit plan adjustments	3.4
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	3.4	0.9
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax	0	(0.1)
Other comprehensive earnings (loss) before tax	138.3	(289.9)
Tax effect of adjustments	(29.2)	47.1
Other comprehensive earnings (loss), net of tax	109.1	(242.8)
Comprehensive earnings	269.6	(239.4)
Less: Net earnings attributable to the noncontrolling interest	(0.3)	(0.3)
Comprehensive earnings attributable to Laboratory Corporation of America Holdings	$ 269.3	$ (239.7)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income [Member]
BALANCE at Dec. 31, 2014	$ 2,820.5	$ 10.4	$ 0	$ 3,786.1	$ (965.5)	$ (10.5)
Net earnings attributable to Laboratory Corporation of America Holdings	3.1			3.1
Other comprehensive earnings, net of tax	(242.8)					(242.8)
Issuance of common stock for acquisition consideration	1,762.5	1.5	1,761
Other Significant Noncash Transaction, Value of Consideration Given	33.2
Issuance of common stock under employee stock plans	(7.8)	(0.1)	(33.1)
Surrender of restricted stock and performance share awards					(7.8)
Conversion of zero-coupon convertible debt	26.3
Stock compensation	2.8		26.3
Income tax benefit from stock options exercised			2.8
Purchase of common stock		12	1,823.2	3,789.2
BALANCE at Mar. 31, 2015	4,397.8				(973.3)	(253.3)
BALANCE at Dec. 31, 2015	4,864	12	1,974.5	4,223	(978.1)	(367.4)
Net earnings attributable to Laboratory Corporation of America Holdings	160.2			160.2
Other comprehensive earnings, net of tax	109.1			0		109.1
Other Significant Noncash Transaction, Value of Consideration Given	11.9
Issuance of common stock under employee stock plans	(15.1)		(11.9)
Surrender of restricted stock and performance share awards					(15.1)
Conversion of zero-coupon convertible debt	31.8
Stock compensation	4.6		31.8
Income tax benefit from stock options exercised			4.6
BALANCE at Mar. 31, 2016	$ 5,166.5	$ 12	$ 2,022.8	$ 4,383.2	$ (993.2)	$ (258.3)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facilities	$ 0	$ 60
Noncontrolling interest distributions	(1.3)	0
Deferred payments on acquisitions	9.8	0
Repayments of Long-term Capital Lease Obligations	(1.5)	(1.2)
Excess tax benefits from stock based compensation	4.6	2.5
Net proceeds from issuance of stock to employees	11.9	30.5
Net cash provided by (used for) financing activities	3.9	3,629.7
Payments of Debt Issuance Costs	0	(37.1)
Net Income (Loss) Attributable to Parent	160.2	3.1
Earnings before income taxes	256	32.5
Payments on bridge loan	0	(400)
Repayments of Senior Debt	0	(250)
Proceeds from bridge loan	0	400
Proceeds from Issuance of Other Long-term Debt	0	1,000
Accreted interest on zero-coupon subordinated notes	0.5	0.5
Proceeds from Sale of Equity Method Investments	12.7	8
Line of Credit Facility Payment	0	(75)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	122.4	102.6
Stock compensation	31.8	26.3
Loss on sale of assets	(8.4)	(1.3)
Cumulative earnings in excess of distributions from equity method investments	0.2	(1.2)
Asset Impairment Charges	0	14.8
Deferred income taxes	18.2	17.4
Change in assets and liabilities (net of effects of acquisitions):
Increase in accounts receivable (net)	(105.8)	(40.3)
Increase (Decrease) in Unbilled Receivables	(14.7)	(25.5)
Increase in inventories	2.4	4.2
Decrease in prepaid expenses and other	(22.5)	(7.7)
Decrease in accounts payable	(34.1)	(48.9)
Increase (Decrease) in Deferred Revenue	19.8	14.1
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities	(47)	(145)
Net cash provided by operating activities	123	(86.9)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(71.4)	(33.8)
Proceeds from sale of assets	2.5	0.3
Investments in equity affiliates	(2.1)	(3.6)
Acquisition of businesses, net of cash acquired	(93.3)	(3,622.2)
Net cash used for investing activities	(151.6)	(3,651.3)
Proceeds from Issuance of Long-term Debt	0	2,900
Effect of exchange rate changes on cash and cash equivalents	4.6	(25.1)
Net increase (decrease) in cash and cash equivalents	(20.1)	(133.6)
Cash and cash equivalents at beginning of period	716.4	580
Cash and cash equivalents at end of period	$ 696.3	$ 446.4

BASIS OF FINANCIAL STATEMENT PR

BASIS OF FINANCIAL STATEMENT PRESENTATION	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Financial Statement Presentation	BASIS OF FINANCIAL STATEMENT PRESENTATION Laboratory Corporation of America Holdings together with its subsidiaries (Company) is the world’s leading healthcare diagnostics company, providing comprehensive clinical laboratory services and end-to-end drug development support. The Company’s strategic vision is to improve health and improve lives by delivering world class diagnostic solutions, bringing innovative medicines to patients faster, and changing the way care is provided through the deployment of technology-enabled solutions. The Company serves managed care organizations (MCOs), biopharmaceutical companies, governmental agencies, physicians, hospitals and health systems, employers, patients and consumers, food and nutritional companies and independent clinical laboratories. The Company believes that it generated more revenue from laboratory testing than any other company in the world in 2015. The Company reports its business in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development (CDD). For further financial information about these segments, see Note 14 (Business Segment Information). During the three months ended March 31, 2016 , LCD and CDD contributed 69.3% and 30.7% , respectively, of net revenues to the Company. The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries for which it exercises control. Long-term investments in affiliated companies in which the Company exercises significant influence, but which it does not control, are accounted for using the equity method. Investments in which the Company does not exercise significant influence (generally, when the Company has an investment of less than 20% and no representation on the investee's board of directors) are accounted for using the cost method. All significant inter-company transactions and accounts have been eliminated. The Company does not have any variable interest entities or special purpose entities whose financial results are not included in the condensed consolidated financial statements. The financial statements of the Company's operating foreign subsidiaries are measured using the local currency as the functional currency. Assets and liabilities are translated at exchange rates as of the balance sheet date. Revenues and expenses are translated at average monthly exchange rates prevailing during the period. Resulting translation adjustments are included in “Accumulated other comprehensive income.” The accompanying condensed consolidated financial statements of the Company are unaudited. In the opinion of management, all adjustments necessary for a fair statement of results of operations, cash flows and financial position have been made. Except as otherwise disclosed, all such adjustments are of a normal recurring nature. Interim results are not necessarily indicative of results for a full year. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. The condensed consolidated financial statements and notes are presented in accordance with the rules and regulations of the Securities and Exchange Commission and do not contain certain information included in the Company’s 2015 Annual Report on Form 10-K, as amended. Therefore, the interim statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued the converged standard on revenue recognition with the objective of providing a single, comprehensive model for all contracts with customers to improve comparability in the financial statements of companies reporting using International Financial Reporting Standards and U.S. Generally Accepted Accounting Principles. The standard contains principles that an entity must apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity must recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings. As originally issued, the new revenue recognition standard would be effective for the Company beginning January 1, 2017. On July 9, 2015, the FASB approved the proposal to defer the effective date of this standard by one year. The standard will be effective for the Company beginning January 1, 2018, with early adoption permitted for annual periods beginning after December 16, 2016. The Company is currently evaluating the expected impact of the standard. In August 2014, the FASB issued a new accounting standard that explicitly requires management to assess an entity's ability to continue as a going concern, and to provide related financial statement footnote disclosures in certain circumstances. Under this standard, in connection with each annual and interim period, management must assess whether there is substantial doubt about an entity's ability to continue as a going concern within one year after the financial statements are issued (or available to be issued when applicable). Management shall consider relevant conditions and events that are known and reasonably knowable at such issuance date. Substantial doubt about an entity's ability to continue as a going concern exists if it is probable that the entity will be unable to meet its obligations as they become due within one year after issuance date. Disclosures will be required if conditions or events give rise to substantial doubt. This standard is effective for the Company for the annual period ending after December 15, 2016, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the consolidated financial statements. In November 2015, the FASB issued a new accounting standard that requires the deferred tax liabilities and assets to be classified as noncurrent on the consolidated balance sheet. The Company early adopted this standard on a full-retrospective basis as of March 31, 2016. The adoption of this standard does not have a material impact on the consolidated financial statements. In January 2016, the FASB issued a new accounting standard that addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. A financial instrument is defined as cash, evidence of ownership interest in a company or other entity, or a contract that both: (i) imposes on one entity a contractual obligation either to deliver cash or another financial instrument to a second entity or to exchange other financial instruments on potentially unfavorable terms with the second entity and (ii) conveys to that second entity a contractual right either to receive cash or another financial instrument from the first entity or to exchange other financial instruments on potentially favorable terms with the first entity. The standard will be effective for the Company beginning January 1, 2018, with early adoption permitted. The Company is evaluating the impact that this new standard will have on the consolidated financial statements. In February 2016, the FASB issued a new accounting standard that sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for based on guidance similar to current guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The standard is effective on January 1, 2019, with early adoption permitted. The Company is evaluating the impact that this new standard will have on the consolidated financial statements. In March 2016, the FASB issued a new accounting standard intended to simplify aspects of share-based payment accounting. The standard changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as the classification of related matters in the statement of cash flows. The update is effective on January 1, 2017, with early adoption permitted. The Company is currently evaluating this new standard and the impact it will have on its consolidated financial statements. Reclassifications The Company has reclassified debt issuance costs from prepaid and other assets, net to direct deductions from the associated debt liability in the December 31, 2015 consolidated balance sheet in accordance with the implementation of a recently issued FASB standard update. In addition, the Company has reclassified short-term deferred tax assets and short-term deferred tax liabilities to net long-term deferred tax assets and net long-term deferred tax liabilities by jurisdiction, respectively, in the December 31, 2015 consolidated balance sheet in accordance with the implementation of a recently issued FASB standard update.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share is computed by dividing net earnings attributable to Laboratory Corporation of America Holdings by the weighted average number of common shares outstanding. Diluted earnings 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, performance share awards, and shares issuable upon conversion of zero-coupon subordinated notes. The following represents a reconciliation of basic earnings per share to diluted earnings per share: Three Months Ended March 31, 2016 2015 Earnings Shares Per Share Amount Earnings Shares Per Share Amount Basic earnings per share: Net earnings $ 160.2 101.6 $ 1.58 $ 3.1 91.9 $ 0.04 Dilutive effect of employee stock options and awards — 1.4 — 1.2 Effect of convertible debt — 0.6 — 0.7 Diluted earnings per share: Net earnings including impact of dilutive adjustments $ 160.2 103.6 $ 1.55 $ 3.1 93.8 $ 0.04 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 March 31, 2016 2015 Stock options 0.3 —

RESTRUCTURING AND OTHER SPECIAL

RESTRUCTURING AND OTHER SPECIAL CHARGES	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Other Special Charges	RESTRUCTURING AND OTHER SPECIAL CHARGES During the first three months of 2016 , the Company recorded net restructuring and other special charges of $19.2 ; $3.2 within LCD and $16.0 within CDD. The charges were comprised of $4.5 related to severance and other personnel costs along with $17.0 in costs associated with facility closures. A substantial portion of these costs relate to the planned closure of duplicative data center operations. The Company reversed previously established reserves of $2.3 in unused severance reserves primarily as the result of selling one of CDD's minimum volume contract facilities to a third party. The Company incurred additional legal and other costs of $1.6 relating to the wind-down of its minimum volume contract operations. The Company also recorded $1.7 in consulting expenses relating to fees incurred as part of its Acquisition integration costs and compensation analysis, along with $1.2 in short-term equity retention arrangements relating to the Acquisition and $4.1 of accelerated equity compensation relating to the announced retirement of a Company executive (all recorded in selling, general and administrative expenses). In addition, the Company incurred $1.5 of non-capitalized costs associated with the implementation of a major system as part of its Project LaunchPad business process improvement initiative. During the first three months of 2015, the Company recorded net restructuring and other special charges of $19.3 . The charges were comprised of $3.2 related to severance and other personnel costs along with $16.1 in costs associated with facility closures and general integration initiatives. In addition, during the first three months of 2015, the Company recorded $6.0 in consulting expenses (recorded in selling, general and administrative expenses) relating to fees incurred as part of its business process improvement initiative. The Company also recorded $166.0 of deal costs related to the Acquisition, of which $113.4 is included in selling and $52.6 is included in interest expense. The following represents the Company’s restructuring reserve activities for the period indicated: LCD CDD Severance and Other Employee Costs Lease and Other Facility Costs Severance and Other Employee Costs Lease and Other Facility Costs Total Balance as of December 31, 2015 $ 0.1 $ 26.5 $ 51.5 $ 1.1 $ 79.2 Restructuring charges 3.2 0.1 1.3 16.9 21.5 Reduction of prior restructuring accruals — (0.1 ) (2.2 ) — (2.3 ) Cash payments and other adjustments (2.0 ) (10.8 ) (8.6 ) 7.1 (14.3 ) Balance as of March 31, 2016 $ 1.3 $ 15.7 $ 42.0 $ 25.1 $ 84.1 Current $ 50.9 Non-current 33.2 $ 84.1

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the three-month period ended March 31, 2016 and for the year ended December 31, 2015 are as follows: LCD CDD Total March 31, December 31, 2015 March 31, December 31, 2015 March 31, December 31, 2015 Balance as of January 1 $ 3,201.7 $ 2,988.9 $ 2,990.2 $ 110.5 $ 6,191.9 $ 3,099.4 Goodwill acquired during the period 59.4 225.6 — 2,969.0 59.4 3,194.6 Adjustments to goodwill (21.1 ) (12.8 ) 22.2 (89.3 ) 1.1 (102.1 ) Balance at end of period $ 3,240.0 $ 3,201.7 $ 3,012.4 $ 2,990.2 $ 6,252.4 $ 6,191.9 The components of identifiable intangible assets are as follows: March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 3,220.7 $ (758.1 ) $ 2,462.6 $ 3,137.8 $ (725.6 ) $ 2,412.2 Patents, licenses and technology 322.2 (150.9 ) 171.3 309.6 (144.7 ) 164.9 Non-compete agreements 49.8 (38.3 ) 11.5 51.2 (37.2 ) 14.0 Trade names 402.8 (122.1 ) 280.7 400.9 (115.5 ) 285.4 Land use right 5.5 (0.8 ) 4.7 5.5 (0.6 ) 4.9 Canadian licenses 479.6 — 479.6 451.0 — 451.0 $ 4,480.6 $ (1,070.2 ) $ 3,410.4 $ 4,356.0 $ (1,023.6 ) $ 3,332.4 Amortization of intangible assets for the three-month periods ended March 31, 2016 and March 31, 2015 was $44.3 and $31.1 , respectively. Amortization expense for the net carrying amount of intangible assets is estimated to be $106.0 for the remainder of fiscal 2016 , $ 167.1 in fiscal 2017 , $156.3 in fiscal 2018 , $149.4 in fiscal 2019 , $143.0 in fiscal 2020 and $2,030.8 thereafter.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	DEBT Short-term borrowings and the current portion of long-term debt at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, 2015 Zero-coupon convertible subordinated notes $ 95.0 $ 94.5 3.125% senior notes due 2016 325.0 325.0 Debt issuance costs (0.8 ) (1.0 ) Current portion of capital leases 6.2 5.4 Total short-term borrowings and current portion of long-term debt $ 425.4 $ 423.9 Long-term debt at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, 2015 2.20% senior notes due 2017 $ 500.0 $ 500.0 2.50% senior notes due 2018 400.0 400.0 4.625% senior notes due 2020 642.1 621.6 2.625% senior notes due 2020 500.0 500.0 3.75% senior notes due 2022 500.0 500.0 3.20% senior notes due 2022 500.0 500.0 4.00% senior notes due 2023 300.0 300.0 3.60% senior notes due 2025 1,000.0 1,000.0 4.70% senior notes due 2045 900.0 900.0 Term loan 715.0 715.0 Debt issuance costs (49.7 ) (51.8 ) Capital leases 62.1 55.5 Total long-term debt $ 5,969.5 $ 5,940.3 Senior Notes As a result of the Acquisition, the Company assumed privately placed senior notes in an aggregate principal amount of $250.0 issued by Covance pursuant to a Note Purchase Agreement dated October 2, 2013. On March 5, 2015, the Company caused Covance to prepay all of the outstanding Senior Notes at 100% of the principal amount plus accrued interest, and a total make-whole amount of $37.4 which was expensed. The Note Purchase Agreement terminated effective March 5, 2015 in connection with the prepayment of the Senior Notes. During the third quarter of 2013, the Company entered into two fixed-to-variable interest rate swap agreements for its 4.625% senior notes due 2020 with an aggregate notional amount of $600.0 and variable interest rates based on one-month LIBOR plus 2.298% to hedge against changes in the fair value of a portion of the Company's long-term debt. These derivative financial instruments are accounted for as fair value hedges of the senior notes due 2020. These interest rate swaps are included in other long-term assets and added to the value of the senior notes, with an aggregate fair value of $ 42.1 at March 31, 2016 and $21.6 at December 31, 2015 . Zero-Coupon Subordinated Notes On March 11, 2016, the Company announced that for the period from March 12, 2016 to September 11, 2016, the zero-coupon subordinated notes will accrue contingent cash interest at a rate of no less than 0.125% of the average market price of a zero-coupon subordinated note for the five trading days ended March 8, 2016, in addition to the continued accrual of the original issue discount. On April 4, 2016, the Company announced that its zero-coupon subordinated notes may be converted into cash and common stock at the conversion rate of 13.4108 per $1,000.0 principal amount at maturity of the notes, subject to the terms of the zero-coupon subordinated notes and the indenture, dated as of October 24, 2006 between the Company and The Bank of New York Mellon, as trustee and the conversion agent. In order to exercise the option to convert all or a portion of the zero-coupon subordinated notes, holders are required to validly surrender their zero-coupon subordinated notes at any time during the calendar quarter beginning April 1, 2016 through the close of business on the last business day of the calendar quarter, which is 5:00 p.m., New York City time, on Thursday, June 30, 2016. If notices of conversion are received, the Company plans to settle the cash portion of the conversion obligation with cash on hand and/or borrowings under the new revolving credit facility. Credit Facilities As part of its financing of the Acquisition, the Company entered into a $1,000.0 term loan. The term loan credit facility will mature five years after the closing date of the Acquisition and may be prepaid without penalty. The term loan balance at March 31, 2016 and December 31, 2015 was $715.0 . On December 19, 2014 , the Company entered into an amendment and restatement of its existing senior revolving credit facility, which was originally entered into on December 21, 2011. The senior revolving credit facility consists of a five-year revolving facility in the principal amount of up to $1,000.0 , with the option of increasing the facility by up to an additional $250.0 , subject to the agreement of one or more new or existing lenders to provide such additional amounts and certain other customary conditions. The new revolving credit facility also provides for a subfacility of up to $100.0 for swing line borrowings and a subfacility of up to $125.0 for issuances of letters of credit. The new revolving credit facility is permitted to be used for general corporate purposes, including working capital, capital expenditures, funding of share repurchases and certain other payments, and acquisitions and other investments. There was no outstanding balance on the Company's revolving credit facility at March 31, 2016 or December 31, 2015 . On January 30, 2015, the Company issued $2,900.0 in debt securities consisting of $500.0 aggregate principal amount of 2.625% Senior Notes due 2020, $500.0 aggregate principal amount of 3.20% Senior Notes due 2022, $1,000.0 aggregate principal amount of 3.60% Senior Notes due 2025 and $900.0 aggregate principal amount of 4.70% Senior Notes due 2045 (together, the Acquisition Notes). Net proceeds from the offering of the Acquisition Notes were $2,870.2 after deducting underwriting discounts and other expenses of the offering. Net proceeds were used to pay a portion of the cash consideration and the fees and expenses in connection with the Acquisition. On February 13, 2015, the Company entered into a 60 -day cash bridge term loan credit facility in the principal amount of $400.0 for the purpose of financing a portion of the cash consideration and the fees and expenses in connection with the Acquisition. The 60 -day cash bridge term loan credit facility was advanced in full on February 19, 2015, the date of the Company’s completion of the Acquisition. On March 16, 2015, the Company elected to prepay the bridge facility without penalty. Under the term loan facility and the revolving credit facility, the Company is subject to negative covenants limiting subsidiary indebtedness and certain other covenants typical for investment grade-rated borrowers, and the Company is required to maintain a leverage ratio that declines over time. From and after the Acquisition Date, the leverage ratio must be no greater than 4.75 to 1.0 with respect to the last day of each of the first four fiscal quarters ending on or after the closing date, 4.25 to 1.0 with respect to the last day of each of the fifth through eighth fiscal quarters ending after the closing date, and 3.75 to 1.0 with respect to the last day of each fiscal quarter ending thereafter. The Company was in compliance with all covenants in the term loan facility and the new revolving credit facility at March 31, 2016 . As of March 31, 2016 , the ratio of total debt to consolidated trailing 12 month EBITDA was 3.5 to 1.0. The term loan credit facility accrues interest at a per annum rate equal to, at the Company’s election, either a LIBOR rate plus a margin ranging from 1.125% to 2.00% , or a base rate determined according to a prime rate or federal funds rate plus a margin ranging from 0.125% to 1.00% . Advances under the revolving credit facility will accrue interest at a per annum rate equal to, at the Company’s election, either a LIBOR rate plus a margin ranging from 1.00% to 1.60% , or a base rate determined according to a prime rate or federal funds rate plus a margin ranging from 0.00% to 0.60% . Fees are payable on outstanding letters of credit under the new revolving credit facility at a per annum rate equal to the applicable margin for LIBOR loans, and the Company is required to pay a facility fee on the aggregate commitments under the new revolving credit facility, at a per annum rate ranging from 0.125% to 0.40% . The interest margin applicable to the credit facilities, and the facility fee and letter of credit fees payable under the new revolving credit facility, are based on the Company’s senior credit ratings as determined by Standard & Poor’s and Moody’s, which are currently BBB and Baa2, respectively. As of March 31, 2016 , the effective interest rate on the revolving credit facility was 1.53% and the effective interest rate on the term loan was 1.68% .

PREFERRED STOCK AND COMMON SHAR

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
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’s treasury shares are recorded at aggregate cost. 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 March 31, 2016 and December 31, 2015. The changes in common shares issued and held in treasury are summarized below: Issued Held in Treasury Outstanding Common shares at December 31, 2015 123.9 (22.6 ) 101.3 Common stock issued under employee stock plans 0.8 — 0.8 Common shares at March 31, 2016 124.7 (22.6 ) 102.1 Share Repurchase Program As of March 31, 2016 and December 31, 2015 , the Company had outstanding authorization from the Board of Directors to purchase up to $789.5 of Company common stock based on settled trades as of these respective dates. The repurchase authorization has no expiration date. Following the announcement of the Acquisition, the Company suspended its share repurchases. The Company does not anticipate resuming its share repurchase activity until it approaches its targeted ratio of total debt to consolidated trailing 12 month EBITDA of 2.5 to 1.0. However, the Company will continue to evaluate all opportunities for strategic deployment of capital in light of market conditions. Accumulated Other Comprehensive Earnings The components of accumulated other comprehensive earnings are as follows: Foreign Currency Translation Adjustments Net Benefit Plan Adjustments Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2015 (b) $ (293.0 ) $ (74.4 ) $ (367.4 ) Other comprehensive earnings before reclassifications 134.9 134.9 Amounts reclassified from accumulated other comprehensive earnings to the Condensed Consolidated Statement of Operations (a) — 3.4 3.4 Tax effect of adjustments (28.1 ) (1.1 ) (29.2 ) Balance at March 31, 2016 $ (186.2 ) $ (72.1 ) $ (258.3 ) (a) The amortization of prior service cost is included in the computation of net periodic benefit cost. See Note 10 (Pension and Post-retirement Plans) below for additional information regarding the Company's net periodic benefit cost. (b) The December 31, 2015 foreign currency translation adjustment reflects the changes recorded due to the cumulative translation adjustment of allocating the intangible assets associated with the Acquisition.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company does not recognize a tax benefit unless the Company concludes that it is more likely than not that the benefit will be sustained on audit by the taxing authority based solely on the technical merits of the associated tax position. If the recognition threshold is met, the Company recognizes a tax benefit measured at the largest amount of the tax benefit that the Company believes is greater than 50% likely to be realized. The gross unrecognized income tax benefits were $24.2 at March 31, 2016 and December 31, 2015 . It is anticipated that the amount of the unrecognized income tax benefits will change within the next 12 months; however, these changes are not expected to have a significant impact on the results of operations, cash flows or the financial position of the Company. As of March 31, 2016 and December 31, 2015 , $24.2 is the approximate amount of gross unrecognized income tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. The Company recognizes interest and penalties related to unrecognized income tax benefits in income tax expense. Accrued interest and penalties related to uncertain tax positions totaled $13.2 and $12.7 as of March 31, 2016 and December 31, 2015 , respectively. The valuation allowance provided as a reserve against certain deferred tax assets is $14.8 and $15.1 as of March 31, 2016 and December 31, 2015 , respectively. The Company has substantially concluded all U.S. federal income tax matters for years through 2011. Substantially all material state and local and foreign income tax matters have been concluded through 2010 and 2004, respectively. The IRS is currently examining the Company's 2014 federal income tax return. The Company has various state and international income tax examinations ongoing throughout the year. Management believes adequate provisions have been recorded related to all open tax years.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is involved from time to time in various claims and legal actions, including arbitrations, class actions, and other litigation (including those described in more detail below), arising in the ordinary course of business. Some of these actions involve claims that are substantial in amount. These matters include, but are not limited to, intellectual property disputes, commercial and contract disputes, professional liability, employee-related matters, and inquiries, including subpoenas and other civil investigative demands, from governmental agencies and Medicare or Medicaid payers and MCOs reviewing billing practices or requesting comment on allegations of billing irregularities that are brought to their attention through billing audits or third parties. The Company receives civil investigative demands or other inquiries from various governmental bodies in the ordinary course of its business. Such inquiries can relate to the Company or other healthcare providers. The Company works cooperatively to respond to appropriate requests for information. The Company also is named from time to time in suits brought under the qui tam provisions of the False Claims Act and comparable state laws. These suits typically allege that the Company has made false statements and/or certifications in connection with claims for payment from U.S. or state healthcare programs. The suits may remain under seal (hence, unknown to the Company) for some time while the government decides whether to intervene on behalf of the qui tam plaintiff. Such claims are an inevitable part of doing business in the healthcare field today. The Company believes that it is in compliance in all material respects with all statutes, regulations and other requirements applicable to its clinical laboratory operations and drug development support services. The healthcare diagnostics and drug development industries are, however, subject to extensive regulation, and the courts have not interpreted many of the applicable statutes and regulations. There can be no assurance, therefore, that the applicable statutes and regulations will not be interpreted or applied by a prosecutorial, regulatory or judicial authority in a manner that would adversely affect the Company. Potential sanctions for violation of these statutes and regulations include significant fines, the loss of various licenses, certificates and authorizations, and/or exclusion from participation in government programs. Many of the current claims and legal actions against the Company are in preliminary stages, and many of these cases seek an indeterminate amount of damages. The Company records an aggregate legal reserve, which is determined using actuarial calculations based on historical loss rates and assessment of trends experienced in settlements and defense costs. In accordance with FASB Accounting Standards Codification Topic 450 “Contingencies”, the Company establishes reserves for judicial, regulatory, and arbitration matters outside the aggregate legal reserve if and when those matters present loss contingencies that are both probable and estimable and would exceed the aggregate legal reserve. When loss contingencies are not both probable and estimable, the Company does not establish separate reserves. The Company is unable to estimate a range of reasonably probable loss for the proceedings described in more detail below in which damages either have not been specified or, in the Company's judgment, are unsupported and/or exaggerated and (i) the proceedings are in early stages; (ii) there is uncertainty as to the outcome of pending appeals or motions; (iii) there are significant factual issues to be resolved; and/or (iv) there are novel legal issues to be presented. For these proceedings, however, the Company does not believe, based on currently available information, that the outcomes will have a material adverse effect on the Company's financial condition, though the outcomes could be material to the Company's operating results for any particular period, depending, in part, upon the operating results for such period. As reported, the Company reached a settlement in the previously disclosed lawsuit, California ex rel. Hunter Laboratories, LLC et al. v. Quest Diagnostics Incorporated, et al. (Hunter Labs Settlement Agreement), to avoid the uncertainty and costs associated with prolonged litigation. Pursuant to the executed Hunter Labs Settlement Agreement, the Company recorded a litigation settlement expense of $34.5 in the second quarter of 2011 (net of a previously recorded reserve of $15.0 ) and paid the settlement amount of $49.5 in the third quarter of 2011. The Company also agreed to certain reporting obligations regarding its pricing for a limited time period and, at the option of the Company in lieu of such reporting obligations, to provide Medi-Cal with a discount from Medi-Cal's otherwise applicable maximum reimbursement rate from November 1, 2011, through October 31, 2012. In 2011, the California legislature enacted Assembly Bill No. 97, which imposed a 10.0% Medi-Cal payment cut on most providers, including clinical laboratories. This 10.0% cut is currently being applied to the rates that would otherwise be applicable. In 2012, the California legislature enacted Assembly Bill No. 1494, which directed the Department of Healthcare Services (DHCS) to establish new reimbursement rates for Medi-Cal clinical laboratory services based on payments made to California clinical laboratories for similar services by other third-party payers, and provided that until the new rates are set through this process, Medi-Cal payments for clinical laboratory services will be reduced (in addition to a 10.0% payment reduction imposed by Assembly Bill No. 97 in 2011) by “up to 10 percent” for tests with dates of service on or after July 1, 2012, with a cap on payments set at 80.0% of the lowest maximum allowance established under the Medicare program. Under the terms of the Hunter Labs Settlement Agreement, the enactment of this California legislation terminates the Company's reporting obligations (or obligation to provide a discount in lieu of reporting) under that agreement. In April 2015, CMS approved a 10.0% payment reduction under Assembly Bill No. 1494. The new rate methodology established new rates that were effective July 1, 2015, but these new rates were not entered into the state computer system until February 2016. Therefore, two retroactive recoupments will occur under Assembly Bill No. 1494 beginning in May 2016. The first will recoup a 10.0% cut from the rates that were in effect from July 1, 2012 to June 30, 2015. The second will recoup the difference between the old rate and the new rate for each test for the period of July 1, 2015 through February 2016. DHCS instructed laboratories to submit 2015 payment data by March 18, 2016, which will be used to establish new rates effective July 1, 2016. Taken together, these changes are not expected to have a material impact on the Company's consolidated revenues or results of operations. As previously reported, the Company responded to an October 2007 subpoena from the U.S. Department of Health & Human Services Office of Inspector General's regional office in New York. On August 17, 2011, the United States District Court for the Southern District of New York unsealed a False Claims Act lawsuit, United States of America ex rel. NPT Associates v. Laboratory Corporation of America Holdings , which alleges that the Company offered UnitedHealthcare kickbacks in the form of discounts in return for Medicare business. The Plaintiff's Third Amended Complaint further alleges that the Company's billing practices violated the False Claims Acts of 14 states and the District of Columbia. The lawsuit seeks actual and treble damages and civil penalties for each alleged false claim, as well as recovery of costs, attorney's fees, and legal expenses. Neither the U.S. government nor any state government has intervened in the lawsuit. The Company's Motion to Dismiss was granted in October 2014 and Plaintiff was granted the right to replead. On January 11, 2016, Plaintiff filed a motion requesting leave to file an amended complaint under seal and to vacate the briefing schedule for the Company's motion to dismiss, while the government reviews the amended complaint. The Court granted the motion and vacated the briefing dates. Plaintiff then filed an amended complaint under seal. The Company will vigorously defend the lawsuit. In addition, the Company has received various other subpoenas since 2007 related to Medicaid billing. In October 2009, the Company received a subpoena from the State of Michigan Department of Attorney General seeking documents related to its billing to Michigan Medicaid. In June 2010, the Company received a subpoena from the State of Florida Office of the Attorney General requesting documents related to its billing to Florida Medicaid. In October 2013, the Company received a civil investigative demand from the State of Texas Office of the Attorney General requesting documents related to its billing to Texas Medicaid. The Company is cooperating with these requests. On November 4, 2013, the State of Florida through the Office of the Attorney General filed an Intervention Complaint in a False Claims Act lawsuit, State of Florida ex rel. Hunter Laboratories, LLC and Chris Riedel v. Quest Diagnostics Incorporated, et al. in the Circuit Court for the Second Judicial Circuit for Leon County. The lawsuit, originally filed by a competitor laboratory, alleges that the Company overcharged Florida’s Medicaid program. The lawsuit seeks actual and treble damages and civil penalties for each alleged false claim, as well as recovery of costs, attorney’s fees, and legal expenses. The Company's Motion to Dismiss was denied in February 2015. The Company will vigorously defend the lawsuit. On May 2, 2013, the Company was served with a False Claims Act lawsuit, State of Georgia ex rel. Hunter Laboratories, LLC and Chris Riedel v. Quest Diagnostics Incorporated, et al. , filed in the state court of Fulton County, Georgia. The lawsuit, filed by a competitor laboratory, alleges that the Company overcharged Georgia's Medicaid program. The State of Georgia filed a Notice of Declination on August 13, 2012, before the Company was served with the Complaint. The case was removed to the United States District Court for the Northern District of Georgia. The lawsuit seeks actual and treble damages and civil penalties for each alleged false claim, as well as recovery of costs, attorney's fees, and legal expenses. On March 14, 2014, the Company's Motion to Dismiss was granted. The Plaintiffs repled their complaint and the Company filed a Motion to Dismiss the First Amended Complaint. In May 2015, the Court dismissed the Plaintiffs' anti-kickback claim and remanded the remaining state law claims to the State Court of Fulton County. In July 2015, the Company filed a Motion to Dismiss these remaining claims. The Plaintiffs filed an opposition to the Company's Motion to Dismiss in August 2015. Also, the State of Georgia filed a brief as amicus curiae. The Company will vigorously defend the lawsuit. On February 27, 2012, the Company was served with a False Claims Act lawsuit, United States ex rel. Margaret Brown v. Laboratory Corporation of America Holdings and Tri-State Clinical Laboratory Services, LLC , filed in the United States District Court for the Southern District of Ohio, Western Division. The Company owned 50.0% of Tri-State Clinical Laboratory Services, LLC, which was dissolved in June of 2011 pursuant to a voluntary petition filed under Chapter 7 of Title 11 of the United States Code. The lawsuit alleges that the defendants submitted false claims for payment for laboratory testing services performed as a result of financial relationships that violated the Stark and Anti-Kickback Statute. The lawsuit seeks actual and treble damages and civil penalties for each alleged false claim, as well as recovery of costs, attorney's fees, and legal expenses. The U.S. government has not intervened in the lawsuit. The parties have reached a settlement in principle, but the Company will vigorously defend the lawsuit if the settlement is not finalized. On June 7, 2012, the Company was served with a putative class action lawsuit, Yvonne Jansky v. Laboratory Corporation of America, et al. , filed in the Superior Court of the State of California, County of San Francisco. The lawsuit alleges that the Defendants committed unlawful and unfair business practices, and violated various other state laws by changing screening codes to diagnostic codes on laboratory test orders, thereby resulting in customers being responsible for co-payments and other debts. The lawsuit seeks injunctive relief, actual and punitive damages, as well as recovery of attorney's fees, and legal expenses. In June 2015, Plaintiff's Motion for Class Certification was denied. The Plaintiff has appealed the denial of class certification, and the trial court has stayed the case pending resolution of the appeal. The Company will vigorously defend the lawsuit. On August 24, 2012, the Company was served with a putative class action lawsuit, Sandusky Wellness Center, LLC, et al. v. MEDTOX Scientific, Inc., et al. , filed in the United States District Court for the District of Minnesota. The lawsuit alleges that on or about February 21, 2012, the Defendants violated the U.S. Telephone Consumer Protection Act (TCPA) by sending unsolicited facsimiles to Plaintiff and more than 39 other recipients without the recipients' prior express invitation or permission. The lawsuit seeks the greater of actual damages or the sum of $0.0005 for each violation, subject to trebling under the TCPA, and injunctive relief. In September of 2014, Plaintiff’s Motion for Class Certification was denied. In January of 2015, the Company’s Motion for Summary Judgment on the remaining individual claim was granted. Plaintiff has filed a notice of appeal. The Company will vigorously defend the lawsuit. On December 17, 2010, the Company was served with a lawsuit, Oliver Wuth, et al. v. Laboratory Corporation of America, et al. , filed in the State Superior Court of King County, Washington. The lawsuit alleged that the Company was negligent in the handling of a prenatal genetic test order that allegedly resulted in the parents being given incorrect information. The matter was tried before a jury beginning on October 21, 2013. On December 10, 2013, the jury returned a verdict in Plaintiffs’ favor in the amount of $50.0 , with 50.0% of liability apportioned to the Company and 50.0% of liability apportioned to co-defendant Valley Medical Center. The Company filed post-judgment motions for a new trial, which were denied, and then appealed to the Court of Appeals of the State of Washington. The Appeals Court heard oral argument in June 2015. In August 2015, the Appeals Court affirmed the trial court's judgment. In September 2015, the Company filed a Petition for Review with the Supreme Court of the State of Washington. In March 2016, the Supreme Court denied the petition and, accordingly, the judgment is final. The Company's self-insurance reserves and excess liability insurance are sufficient to cover the liability in this case. On July 3, 2012, the Company was served with a lawsuit, John Wisekal, as Personal Representative of the Estate of Darien Wisekal v. Laboratory Corporation of America Holdings and Glenda C. Mixon , filed in the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida. The lawsuit alleges that the Company misread a Pap test. The case was removed to the United States District Court for the Southern District of Florida. The matter was tried before a jury beginning on April 1, 2014. On April 17, 2014, the jury returned a verdict in Plaintiff’s favor in the amount of $20.8 , with non-economic damages reduced by 25.0% to account for the Plaintiff's negligence, for a final verdict of $15.8 . The Company filed post-trial motions. On July 28, 2014, the Court granted the Company’s motion for remittitur and reduced the jury’s non-economic damages award to $5.0 , reduced by 25.0% for the Plaintiff’s negligence. Accordingly, the total judgment was $4.4 . The Plaintiff opposed the remittitur and the Court ordered a new trial on the issue of damages only. The parties have reached a settlement in principle which is subject to Court approval, but the Company will vigorously defend the lawsuit if the settlement is not finalized. On August 31, 2015, the Company was served with a putative class action lawsuit, Patty Davis v. Laboratory Corporation of America, et al., filed in the Circuit Court of the Thirteenth Judicial Circuit for Hillsborough County, Florida. The complaint alleges that the Company violated the Florida Consumer Collection Practices Act by billing patients who were collecting benefits under the Workers’ Compensation Statutes. The lawsuit seeks injunctive relief and actual and statutory damages, as well as recovery of attorney's fees and legal expenses. The Company will vigorously defend the lawsuit. On September 24, 2014, LipoScience, Inc. (LipoScience) and the Company entered into a Merger Agreement pursuant to which the Company through its subsidiary, Bear Acquisition Corp., would acquire all of the outstanding shares of LipoScience at a purchase price of $5.25 per share in cash for each outstanding share of LipoScience (LipoScience Merger). The LipoScience Merger closed on November 20, 2014. Prior to the closing of the LipoScience Merger, beginning on October 9, 2014, purported stockholders of LipoScience filed four putative class action lawsuits against LipoScience, members of the LipoScience board of directors, the Company and Bear Acquisition Corp., in the Delaware Court of Chancery and, with respect to one of the lawsuits, in the Superior Court of Wake County, North Carolina. The lawsuits alleged breach of fiduciary duty and/or other violations of state law arising out of the LipoScience Merger. Each suit sought, among other things, injunctive relief enjoining the LipoScience Merger. On October 23, 2014, the case in North Carolina was voluntarily dismissed without prejudice by the Plaintiff. On October 29, 2014, the Delaware Court of Chancery consolidated the remaining three actions under the caption In re LipoScience, Inc. Stockholder Litigation , Consolidated C.A. No. 10252-VCP. The Court entered a stipulated order of dismissal dismissing the action on November 30, 2015, without prejudice as to all Plaintiffs and any other putative class member, and following formal notification to the Court of the filing of the Company’s Form 10-K on February 29, 2016 concerning the Company’s subsequent agreement to pay Plaintiff’s counsel a fee of $0.2 , the action was closed. On November 2, 2014, the Company entered into a definitive merger agreement to acquire Covance, Inc. for $6,150.7 in cash and Company common stock (the Covance Merger). The Covance Merger closed on February 19, 2015. Prior to the closing of the Covance Merger, on December 9, 2014, Berk v, Covance Inc., et al ., C.A. No. 10440-VCL, was filed in the Delaware Court of Chancery. The purported stockholder class action complaint was filed against Covance, members of the Covance Board of Directors, the Company and Neon Merger Sub, Inc., a wholly owned subsidiary of the Company that was merged out of existence in connection with the Acquisition, and alleged breach of fiduciary duty and/or other violations of state law arising out of the Covance Merger. The suit sought, among other things, injunctive relief enjoining the Covance Merger. The Court entered a stipulated order of dismissal dismissing the action on December 1, 2015, with prejudice as to Plaintiff, and, following formal notification to the Court of the filing of a Current Report on Form 8-K on March 10, 2016 concerning the Company’s subsequent agreement to pay Plaintiff’s counsel a fee of $0.2 , the action was closed. In December 2014, the Company received a Civil Investigative Demand issued pursuant to the U.S. False Claims Act from the U.S. Attorney’s Office for South Carolina, which requests information regarding remuneration and services provided by the Company to physicians who also received draw and processing/handling fees from competitor laboratories Health Diagnostic Laboratory, Inc. and Singulex, Inc. The Company is cooperating with the request. The Company holds an investment in a joint venture partnership located in Alberta, Canada. The Canadian partnership has a license to conduct diagnostic testing services in the province of Alberta. Substantially all of its revenue is received as reimbursement from the Alberta government's healthcare programs. In December 2013, Alberta Health Services (AHS), the Alberta government's healthcare program, issued a request for proposals for laboratory services that included the scope of services performed by the Canadian partnership. In October 2014, AHS informed the Canadian partnership that it had not been selected as the preferred proponent. In November 2014, the Canadian partnership submitted a vendor bid appeal upon the belief that there were significant flaws and failures in the conduct of the request for proposal process, which drove to a biased conclusion. AHS established a Vendor Bid Appeal Panel to hear the appeal, and the hearing was conducted in February 2015. In August 2015, AHS was directed to cancel the request for proposal process. Subsequently, the Canadian partnership entered into a one-year extension through March 31, 2017 of its existing contract with AHS. If the contract is not renewed after March 2017, then the Canadian partnership's revenues would decrease substantially and the carrying value of the Company's investment could potentially be impaired. Under the Company's present insurance programs, coverage is obtained for catastrophic exposure as well as those risks required to be insured by law or contract. The Company is responsible for the uninsured portion of losses related primarily to general, professional and vehicle liability, certain medical costs and workers' compensation. The self-insured retentions are on a per occurrence basis without any aggregate annual limit. Provisions for losses expected under these programs are recorded based upon the Company's estimates of the aggregated liability of claims incurred. As of March 31, 2016 , the Company had provided letters of credit aggregating approximately $55.0 , primarily in connection with certain insurance programs. The Company’s availability under its revolving credit facility is reduced by the amount of these letters of credit.

PENSION AND POSTRETIREMENT PLAN

PENSION AND POSTRETIREMENT PLANS	3 Months Ended
	Mar. 31, 2016
Postemployment Benefits [Abstract]
Pension And Postretirement Plans	The components of the net periodic pension cost for the three months ended March 31, 2016 and March 31, 2015 are as follows: Three Months Ended March 31, 2016 2015 Service cost $ — $ 0.4 Interest cost 0.2 0.9 Net periodic pension cost $ 0.2 $ 1.3 PENSION AND POST-RETIREMENT PLANS The Company’s defined contribution retirement plan (401K Plan) covers substantially all pre-Acquisition employees. All employees eligible for the 401K Plan receive a minimum 3% non-elective contribution concurrent with each payroll period. The 401K Plan also permits discretionary contributions by the Company of up to 1% and up to 3% of pay for eligible employees based on years of service with the Company. The cost of this plan was $13.3 and $12.9 for the three months ended March 31, 2016 and 2015, respectively. As a result of the Acquisition, the Company also incurred expense of $13.7 and $4.7 for the Covance 401K plan during the three months ended March 31, 2016 and 2015, respectively. All of the Covance U.S. employees are eligible to participate in the discretionary Covance 401(k) plan, which features a Company match, based upon a percentage of the employee’s contributions. The Company also maintains a frozen defined benefit retirement plan (Company Plan), which as of December 31, 2009, covered substantially all employees. The benefits to be paid under the Company Plan are based on years of credited service through December 31, 2009 and ongoing interest credits. Effective January 1, 2010, the Company Plan was closed to new participants. The Company’s policy is to fund the Company Plan with at least the minimum amount required by applicable regulations. The Company maintains a second unfunded, non-contributory, non-qualified defined benefit retirement plan (PEP), which as of December 31, 2009, covered substantially all of its senior management group. The PEP supplements the Company Plan and was closed to new participants effective January 1, 2010. The effect on operations for the Company Plan and the PEP is summarized as follows: Three Months Ended March 31, 2016 2015 Service cost for administrative expenses $ 1.2 $ 1.0 Interest cost on benefit obligation 3.9 3.8 Expected return on plan assets (4.2 ) (4.6 ) Net amortization and deferral 2.8 2.7 Defined benefit plan costs $ 3.7 $ 2.9 During the three months ended March 31, 2016 , the Company contributed $2.3 to the Company Plan. The Company has assumed the obligations under a subsidiary’s post-retirement medical plan. Coverage under this plan is restricted to a limited number of existing employees of the subsidiary. The Company funds the plan through monthly contributions to a Health Reimbursement Arrangement, which can be used by eligible participants to purchase health care insurance through insurance exchanges. Effective January 1, 2017, Health Reimbursement Arrangement contributions for Medicare eligible participants will cease. The effect on operations of the post-retirement medical plan is shown in the following table: Three Months Ended March 31, 2016 2015 Service cost for benefits earned $ — $ 0.1 Interest cost on benefit obligation 0.1 0.3 Net amortization and deferral (3.8 ) (2.4 ) Post-retirement medical plan benefits $ (3.7 ) $ (2.0 ) In addition to the PEP, as a result of the Acquisition, the Company also has a frozen non-qualified Supplemental Executive Retirement Plan (SERP). The SERP, which is not funded, is intended to provide retirement benefits for certain executive officers of the Company. Benefit amounts are based upon years of service and compensation of the participating employees. The pension benefit obligation as of the Acquisition Date was $32.8 . The components of the net periodic pension cost for the three months ended March 31, 2016 and March 31, 2015 are as follows: Three Months Ended March 31, 2016 2015 Service cost $ — $ 0.4 Interest cost 0.2 0.9 Net periodic pension cost $ 0.2 $ 1.3 Also as a result of the Acquisition, the Company sponsors a post-employment retiree health and welfare plan for the benefit of eligible employees at certain U.S. subsidiaries who retire after satisfying service and age requirements. Effective January 1, 2017, this Plan will cease directly providing medical, prescription drug and dental coverage options currently available to eligible participants. Instead, the Company will fund the plan through monthly contributions to a Health Reimbursement Arrangement, which can be used by non-Medicare eligible participants to purchase health care insurance through insurance exchanges. The net periodic post-retirement benefit cost for the three months ended March 31, 2016 and 2015 was $0.4 and $0.2 . The pension benefit obligation as of the Acquisition Date was $6.3 . As a result of the Acquisition, the Company sponsors two defined benefit pension plans for the benefit of its employees at two United Kingdom subsidiaries and one defined benefit pension plan for the benefit of its employees at a German subsidiary, all of which are legacy plans of previously acquired companies. Benefit amounts for all three plans are based upon years of service and compensation. The German plan is unfunded while the United Kingdom pension plans are funded. The Company’s funding policy has been to contribute annually a fixed percentage of the eligible employees' salary at least equal to the local statutory funding requirements. United Kingdom Plans Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.8 $ 0.3 Interest cost on benefit obligation 2.2 0.9 Expected return on plan assets (3.1 ) (1.3 ) Net amortization and deferral — 0.2 Defined benefit plan costs $ (0.1 ) $ 0.1 Assumptions used to determine defined benefit plan cost Discount rate 3.8 % 3.6 % Expected return on assets 5.6 % 5.4 % Salary increases 3.6 % 3.5 % German Plan Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.2 $ 0.1 Interest cost on benefit obligation 0.2 — Net amortization and deferral — 0.1 Net (gain) from earlier periods (0.1 ) — Defined benefit plan costs $ 0.3 $ 0.2 Assumptions used to determine defined benefit plan cost Discount rate 2.5 % 2.2 % Expected return on assets N/A N/A Salary increases 2.0 % 2.0 % As a result of the Acquisition, the Company sponsors two defined benefit pension plans for the benefit of its employees at two United Kingdom subsidiaries and one defined benefit pension plan for the benefit of its employees at a German subsidiary, all of which are legacy plans of previously acquired companies. Benefit amounts for all three plans are based upon years of service and compensation. The German plan is unfunded while the United Kingdom pension plans are funded. The Company’s funding policy has been to contribute annually a fixed percentage of the eligible employees' salary at least equal to the local statutory funding requirements. United Kingdom Plans Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.8 $ 0.3 Interest cost on benefit obligation 2.2 0.9 Expected return on plan assets (3.1 ) (1.3 ) Net amortization and deferral — 0.2 Defined benefit plan costs $ (0.1 ) $ 0.1 Assumptions used to determine defined benefit plan cost Discount rate 3.8 % 3.6 % Expected return on assets 5.6 % 5.4 % Salary increases 3.6 % 3.5 % German Plan Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.2 $ 0.1 Interest cost on benefit obligation 0.2 — Net amortization and deferral — 0.1 Net (gain) from earlier periods (0.1 ) — Defined benefit plan costs $ 0.3 $ 0.2 Assumptions used to determine defined benefit plan cost Discount rate 2.5 % 2.2 % Expected return on assets N/A N/A Salary increases 2.0 % 2.0 %

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 is as follows: Fair Value Measurements as of Fair Value as of March 31, 2016 Using Fair Value Hierarchy March 31, 2016 Level 1 Level 2 Level 3 Noncontrolling interest put $ 15.8 $ — $ 15.8 $ — Interest rate swap 42.1 — 42.1 — Cash surrender value of life insurance policies 45.8 — 45.8 — Deferred compensation liability 48.3 — 48.3 — Fair Value Measurements as of Fair Value as of December 31, 2015 Using Fair Value Hierarchy December 31, 2015 Level 1 Level 2 Level 3 Noncontrolling interest put $ 14.9 $ — $ 14.9 $ — Interest rate swap 21.6 — 21.6 — Cash surrender value of life insurance policies 45.5 — 45.5 — Deferred compensation liability 46.4 — 46.4 — 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 sheet. 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 a deferred compensation plan (DCP). A participant's deferrals are allocated by the participant to one or more of 16 measurement funds, which are indexed to externally managed funds. From time to time, to offset the cost of the growth in the participant's investment accounts, the Company purchases life insurance policies, with the Company named as beneficiary of the policies. Changes in the cash surrender value of these policies are based upon earnings and changes in the value of the underlying investments, which are typically invested in a manner similar to the participants' allocations. Changes in the fair value of the DCP obligation are derived using quoted prices in active markets based on the market price per unit multiplied by the number of units. The cash surrender value and the DCP obligations are classified within Level 2 because their inputs are derived principally from observable market data by correlation to the hypothetical investments. 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 zero-coupon subordinated notes, based on market pricing, was approximately $167.5 and $177.1 as of March 31, 2016 and December 31, 2015 , respectively. The fair market value of all of the senior notes, based on market pricing, was approximately $6,220.5 and $6,070.5 as of March 31, 2016 and December 31, 2015 , respectively. The Company's note and debt instruments are classified as Level 2 instruments, as the fair market values of these instruments are determined using other observable inputs.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments And Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company addresses its exposure to market risks, principally the market risk associated with changes in interest rates, through a controlled program of risk management that includes, from time to time, the use of derivative financial instruments such as interest rate swap agreements (see Interest Rate Swap section below). Although the Company’s zero-coupon subordinated notes contain features that are considered to be embedded derivative instruments (see Embedded Derivatives Related to the Zero-Coupon Subordinated Notes section below), the Company does not hold or issue derivative financial instruments for trading purposes. The Company does not believe that its exposure to market risk is material to the Company’s financial position or results of operations. Interest Rate Swap During the third quarter of 2013, the Company entered into two fixed-to-variable interest rate swap agreements for its 4.625% senior notes due 2020 with an aggregate notional amount of $600.0 and variable interest rates based on one-month LIBOR plus 2.298% to hedge against changes in the fair value of a portion of the Company's long term debt. These derivative financial instruments are accounted for as fair value hedges of the senior notes due 2020. These interest rate swaps are included in other long term assets and added to the value of the senior notes, with an aggregate fair value of $ 42.1 and $21.6 at March 31, 2016 and December 31, 2015, respectively. As the specific terms and notional amounts of the derivative financial instruments match those of the fixed-rate debt being hedged, the derivative instruments are assumed to be perfectly effective hedges and accordingly, there is no impact to the Company's consolidated statements of operations. Embedded Derivatives Related to the Zero-Coupon Subordinated Notes The Company’s zero-coupon subordinated notes contain the following two features that are considered to be embedded derivative instruments under authoritative guidance in connection with accounting for derivative instruments and hedging activities: 1) The Company will pay contingent cash interest on the zero-coupon subordinated notes after September 11, 2006, if the average market price of the notes equals 120% or more of the sum of the issue price, accrued original issue discount and contingent additional principal, if any, for a specified measurement period. 2) Holders may surrender zero-coupon subordinated notes for conversion during any period in which the rating assigned to the zero-coupon subordinated notes by Standard & Poor’s Ratings Services is BB- or lower. The Company believes these embedded derivatives had no fair value at March 31, 2016 and December 31, 2015 . These embedded derivatives also had no impact on the condensed consolidated statements of operations for the three months ended March 31, 2016 and 2015 , respectively. Derivatives Instruments The Company periodically enters into foreign currency forward contracts, which are recognized as assets or liabilities at their fair value. These contracts do not qualify for hedge accounting and the changes in fair value are recorded directly to earnings. The contracts are short-term in nature and the fair value of these contracts is based on market prices for comparable contracts. The fair value of these contracts is not significant as of March 31, 2016 and December 31, 2015.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Three Months Ended March 31, 2016 2015 Supplemental schedule of cash flow information: Cash paid during period for: Interest $ 71.6 $ 14.9 Income taxes, net of refunds 32.9 23.1 Disclosure of non-cash financing and investing activities: Surrender of restricted stock awards and performance awards $ 15.1 $ 7.8 Non-cash stock consideration for the Acquisition — 1,762.5 Assets acquired under capital leases 9.0 16.7 Increase (decrease) accrued property, plant and equipment 2.4 (1.4 )
Supplemental Cash Flow Information	Three Months Ended March 31, 2016 2015 Supplemental schedule of cash flow information: Cash paid during period for: Interest $ 71.6 $ 14.9 Income taxes, net of refunds 32.9 23.1 Disclosure of non-cash financing and investing activities: Surrender of restricted stock awards and performance awards $ 15.1 $ 7.8 Non-cash stock consideration for the Acquisition — 1,762.5 Assets acquired under capital leases 9.0 16.7 Increase (decrease) accrued property, plant and equipment 2.4 (1.4 )

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS ACQUISITIONS On February 19, 2015 (Acquisition Date), the Company completed the acquisition of Covance Inc. (Acquisition) for $6,150.7 . The Company finalized its purchase price allocation during the measurement period. The facts and circumstances that existed at the date of the Acquisition, if known, would have affected the measurement of the amounts recognized at that date. In accordance with ASC 805, Business Combinations , measurement period adjustments are not included in current earnings, but recognized as of the date of the acquisition with a corresponding adjustment to goodwill resulting from the change in preliminary amounts. As a result, the Company adjusted the preliminary allocation of the purchase price initially recorded at the Acquisition Date to reflect these measurement period adjustments. The Company recorded certain measurement period adjustments and certain classifications of expenses, including items associated with the allocation of stock compensation, from cost of revenue to selling, general and administrative expenses. As a result of these measurement period adjustments, depreciation expense, amortization and the provision for income taxes for the three months ended March 31, 2015 decreased $1.9 , $0.3 and $0.2 , respectively. In addition, accumulated comprehensive income as of December 31, 2015 increased by $102.7 ( $122.2 of which related to the three months ended March 31, 2015) due to the cumulative translation adjustment relating to the allocation of the intangible assets associated with the Acquisition. The valuation of acquired assets and assumed liabilities at the Acquisition Date include the following: Consideration Transferred Cash consideration $ 4,388.2 Stock consideration 1,762.5 $ 6,150.7 Preliminary February 19, 2015 Measurement Period Adjustments Adjusted February 19, 2015 Net Assets Acquired Cash and cash equivalents $ 780.8 $ — $ 780.8 Accounts receivable 334.8 — 334.8 Unbilled services 138.7 — 138.7 Inventories 51.9 — 51.9 Prepaid expenses and other 261.4 86.5 347.9 Deferred income taxes 34.4 61.5 95.9 Property, plant and equipment 844.2 174.0 1,018.2 Goodwill 3,176.1 (82.4 ) 3,093.7 Customer relationships 1,917.2 (86.9 ) 1,830.3 Trade names and trademarks 289.4 (18.9 ) 270.5 Land use right 4.9 (4.9 ) — Technology — 74.5 74.5 Favorable leases — 5.5 5.5 Other assets 15.2 (3.2 ) 12.0 Total assets acquired 7,849.0 205.7 8,054.7 Accounts payable 190.8 — 190.8 Accrued expenses and other 280.8 26.1 306.9 Unearned revenue 168.0 — 168.0 Deferred income taxes 730.2 149.1 879.3 Senior notes 250.0 — 250.0 Other liabilities 78.5 30.5 109.0 Total liabilities acquired 1,698.3 205.7 1,904.0 Net assets acquired $ 6,150.7 $ — $ 6,150.7 The amortization periods for intangible assets acquired are 27 years for customer relationships, 15 years for trade names and trademarks, 10 years for technology, and 8 years for favorable leases. Unaudited Pro Forma Information The Company completed the Acquisition on February 19, 2015. Had the Acquisition been completed as of the beginning of 2014, the Company's pro forma results for 2015 would have been as follows: Three Months Ended March 31, 2015 Total revenues $ 2,146.4 Operating income 272.4 Net income 125.1 Earnings per share: Basic $ 1.23 Diluted $ 1.22 The unaudited pro forma results reflect certain adjustments related to past operating performance, acquisition costs and acquisition accounting adjustments, such as increased amortization expense based on the estimated fair value of assets acquired, the impact of the Company’s new financing arrangements, and the related tax effects. The 2015 pro forma results exclude costs directly attributable to the Acquisition which are not expected to have a continuing impact on the combined company. The pro forma results do not include any anticipated synergies which may be achievable subsequent to the Acquisition. These pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that actually would have resulted had the Acquisition occurred on the date indicated or that may result in the future. During the three months ended March 31, 2016 , the Company also acquired various laboratories and related assets for approximately $ 93.3 in cash (net of cash acquired). The purchase consideration for these acquisitions has been allocated to the estimated fair market value of the net assets acquired, including approximately $ 37.3 in identifiable intangible assets (primarily customer relationships and non-compete agreements) and a residual amount of goodwill of approximately $ 59.4 . These acquisitions were made primarily to extend the Company's geographic reach in important market areas and/or enhance the Company's scientific differentiation and esoteric testing capabilities.

BUSINESS SEGMENT INFORMATION Bu

BUSINESS SEGMENT INFORMATION Business Segment information (Notes)	3 Months Ended
	Mar. 31, 2016
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 months ended March 31, 2016 and 2015 . 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. In connection with the Acquisition, the Company changed its operating segments to align with how the CODM evaluates financial information used to allocate resources and assess performance of the Company post-Acquisition. As a result, the segment information presented in these financial statements has been conformed to present segments on this revised basis for all prior periods. Under the new organizational structure, the CODM manages the Company under two segments: LCD and CDD. LCD includes all of the legacy LabCorp business and the nutritional chemistry and food safety business, which was previously part of Covance but excludes LabCorp's legacy clinical trials testing business, which is now part of CDD. CDD includes all of Covance's legacy business and LabCorp's legacy clinical trials testing business, but excludes the nutritional chemistry and food safety business, which is now part of LCD. Segment asset information is not presented because it is not used by the CODM at the segment level. Operating earnings (loss) of each segment represents net revenues less directly identifiable expenses to arrive at operating income for the segment. General management and administrative corporate expenses are included in general corporate expenses below. The table below represents information about the Company’s reporting segments for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Total revenues: LCD - net revenue $ 1,590.6 $ 1,472.0 CDD - net revenue 704.6 300.3 Total revenues 2,295.2 1,772.3 Operating earnings (loss): LCD 277.0 210.4 CDD 63.0 (50.4 ) Unallocated corporate expenses (38.1 ) (27.6 ) Total operating income 301.9 132.4 Other income (expense), net (45.9 ) (99.9 ) Earnings before income taxes 256.0 32.5 Provision for income taxes 95.5 29.1 Net earnings 160.5 3.4 Less income attributable to noncontrolling interests (0.3 ) (0.3 ) Net income attributable to Laboratory Corporation of America Holdings $ 160.2 $ 3.1

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
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: Three Months Ended March 31, 2016 2015 Earnings Shares Per Share Amount Earnings Shares Per Share Amount Basic earnings per share: Net earnings $ 160.2 101.6 $ 1.58 $ 3.1 91.9 $ 0.04 Dilutive effect of employee stock options and awards — 1.4 — 1.2 Effect of convertible debt — 0.6 — 0.7 Diluted earnings per share: Net earnings including impact of dilutive adjustments $ 160.2 103.6 $ 1.55 $ 3.1 93.8 $ 0.04
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 March 31, 2016 2015 Stock options 0.3 —

RESTRUCTURING AND OTHER SPECI23

RESTRUCTURING AND OTHER SPECIAL CHARGES Restructuring and Other Special Charges Detail (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	RESTRUCTURING AND OTHER SPECIAL CHARGES During the first three months of 2016 , the Company recorded net restructuring and other special charges of $19.2 ; $3.2 within LCD and $16.0 within CDD. The charges were comprised of $4.5 related to severance and other personnel costs along with $17.0 in costs associated with facility closures. A substantial portion of these costs relate to the planned closure of duplicative data center operations. The Company reversed previously established reserves of $2.3 in unused severance reserves primarily as the result of selling one of CDD's minimum volume contract facilities to a third party. The Company incurred additional legal and other costs of $1.6 relating to the wind-down of its minimum volume contract operations. The Company also recorded $1.7 in consulting expenses relating to fees incurred as part of its Acquisition integration costs and compensation analysis, along with $1.2 in short-term equity retention arrangements relating to the Acquisition and $4.1 of accelerated equity compensation relating to the announced retirement of a Company executive (all recorded in selling, general and administrative expenses). In addition, the Company incurred $1.5 of non-capitalized costs associated with the implementation of a major system as part of its Project LaunchPad business process improvement initiative. During the first three months of 2015, the Company recorded net restructuring and other special charges of $19.3 . The charges were comprised of $3.2 related to severance and other personnel costs along with $16.1 in costs associated with facility closures and general integration initiatives. In addition, during the first three months of 2015, the Company recorded $6.0 in consulting expenses (recorded in selling, general and administrative expenses) relating to fees incurred as part of its business process improvement initiative. The Company also recorded $166.0 of deal costs related to the Acquisition, of which $113.4 is included in selling and $52.6 is included in interest expense. The following represents the Company’s restructuring reserve activities for the period indicated: LCD CDD Severance and Other Employee Costs Lease and Other Facility Costs Severance and Other Employee Costs Lease and Other Facility Costs Total Balance as of December 31, 2015 $ 0.1 $ 26.5 $ 51.5 $ 1.1 $ 79.2 Restructuring charges 3.2 0.1 1.3 16.9 21.5 Reduction of prior restructuring accruals — (0.1 ) (2.2 ) — (2.3 ) Cash payments and other adjustments (2.0 ) (10.8 ) (8.6 ) 7.1 (14.3 ) Balance as of March 31, 2016 $ 1.3 $ 15.7 $ 42.0 $ 25.1 $ 84.1 Current $ 50.9 Non-current 33.2 $ 84.1
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following represents the Company’s restructuring reserve activities for the period indicated: LCD CDD Severance and Other Employee Costs Lease and Other Facility Costs Severance and Other Employee Costs Lease and Other Facility Costs Total Balance as of December 31, 2015 $ 0.1 $ 26.5 $ 51.5 $ 1.1 $ 79.2 Restructuring charges 3.2 0.1 1.3 16.9 21.5 Reduction of prior restructuring accruals — (0.1 ) (2.2 ) — (2.3 ) Cash payments and other adjustments (2.0 ) (10.8 ) (8.6 ) 7.1 (14.3 ) Balance as of March 31, 2016 $ 1.3 $ 15.7 $ 42.0 $ 25.1 $ 84.1 Current $ 50.9 Non-current 33.2 $ 84.1

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the three-month period ended March 31, 2016 and for the year ended December 31, 2015 are as follows: LCD CDD Total March 31, December 31, 2015 March 31, December 31, 2015 March 31, December 31, 2015 Balance as of January 1 $ 3,201.7 $ 2,988.9 $ 2,990.2 $ 110.5 $ 6,191.9 $ 3,099.4 Goodwill acquired during the period 59.4 225.6 — 2,969.0 59.4 3,194.6 Adjustments to goodwill (21.1 ) (12.8 ) 22.2 (89.3 ) 1.1 (102.1 ) Balance at end of period $ 3,240.0 $ 3,201.7 $ 3,012.4 $ 2,990.2 $ 6,252.4 $ 6,191.9
Intangible Assets Disclosure [Text Block]	The components of identifiable intangible assets are as follows: March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 3,220.7 $ (758.1 ) $ 2,462.6 $ 3,137.8 $ (725.6 ) $ 2,412.2 Patents, licenses and technology 322.2 (150.9 ) 171.3 309.6 (144.7 ) 164.9 Non-compete agreements 49.8 (38.3 ) 11.5 51.2 (37.2 ) 14.0 Trade names 402.8 (122.1 ) 280.7 400.9 (115.5 ) 285.4 Land use right 5.5 (0.8 ) 4.7 5.5 (0.6 ) 4.9 Canadian licenses 479.6 — 479.6 451.0 — 451.0 $ 4,480.6 $ (1,070.2 ) $ 3,410.4 $ 4,356.0 $ (1,023.6 ) $ 3,332.4

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Short-term borrowings and current portion of long-term debt	Short-term borrowings and the current portion of long-term debt at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, 2015 Zero-coupon convertible subordinated notes $ 95.0 $ 94.5 3.125% senior notes due 2016 325.0 325.0 Debt issuance costs (0.8 ) (1.0 ) Current portion of capital leases 6.2 5.4 Total short-term borrowings and current portion of long-term debt $ 425.4 $ 423.9
Long-term debt	Long-term debt at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, 2015 2.20% senior notes due 2017 $ 500.0 $ 500.0 2.50% senior notes due 2018 400.0 400.0 4.625% senior notes due 2020 642.1 621.6 2.625% senior notes due 2020 500.0 500.0 3.75% senior notes due 2022 500.0 500.0 3.20% senior notes due 2022 500.0 500.0 4.00% senior notes due 2023 300.0 300.0 3.60% senior notes due 2025 1,000.0 1,000.0 4.70% senior notes due 2045 900.0 900.0 Term loan 715.0 715.0 Debt issuance costs (49.7 ) (51.8 ) Capital leases 62.1 55.5 Total long-term debt $ 5,969.5 $ 5,940.3

DEBT (Short-term borrowings and

DEBT (Short-term borrowings and current portion of long-term debt) (Table) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Jan. 30, 2015	Dec. 19, 2014
Short-term Debt [Line Items]
Senior Notes, Noncurrent			$ 2,900
Capital Lease Obligations, Current	$ 6.2	$ 5.4
Total short-term borrowings and current portion of long-term debt	425.4	423.9
Senior notes due 2020 [Member]
Short-term Debt [Line Items]
Senior Notes, Noncurrent	$ 500	500	$ 500
Debt Instrument, Interest Rate, Stated Percentage	4.625%		2.625%
Senior notes due 2022 [Member]
Short-term Debt [Line Items]
Senior Notes, Noncurrent	$ 500	$ 500	$ 500
Debt Instrument, Interest Rate, Stated Percentage			3.20%
Senior notes due 2025 [Member]
Short-term Debt [Line Items]
Senior Notes, Noncurrent			$ 1,000
Debt Instrument, Interest Rate, Stated Percentage			3.60%
Senior notes due 2045 [Member]
Short-term Debt [Line Items]
Senior Notes, Noncurrent			$ 900
Debt Instrument, Interest Rate, Stated Percentage			4.70%
60-Day Debt Bridge Traunche [Domain]
Short-term Debt [Line Items]
Bridge Term Credit Facility Agreement, Maximum Borrowing Amount				$ 400

DEBT (Long-term debt) (Table) (

DEBT (Long-term debt) (Table) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015USD ($)	Jan. 30, 2015USD ($)	Dec. 19, 2014USD ($)
Debt Instrument [Line Items]
Long-term Debt [Text Block]	Long-term debt at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, 2015 2.20% senior notes due 2017 $ 500.0 $ 500.0 2.50% senior notes due 2018 400.0 400.0 4.625% senior notes due 2020 642.1 621.6 2.625% senior notes due 2020 500.0 500.0 3.75% senior notes due 2022 500.0 500.0 3.20% senior notes due 2022 500.0 500.0 4.00% senior notes due 2023 300.0 300.0 3.60% senior notes due 2025 1,000.0 1,000.0 4.70% senior notes due 2045 900.0 900.0 Term loan 715.0 715.0 Debt issuance costs (49.7 ) (51.8 ) Capital leases 62.1 55.5 Total long-term debt $ 5,969.5 $ 5,940.3
Long-term Debt, Excluding Current Maturities	$ 5,969.5			$ 5,940.3
Line of Credit Facility, Fair Value of Amount Outstanding	715			715
Other Long-term Debt	715			55.5
Senior Notes, Noncurrent					$ 2,900
Capital Lease Obligations, Noncurrent	$ 62.1
Long-term Debt, Maturities, Repayment Terms	P5Y
Line of Credit Facility, Maximum Borrowing Capacity						$ 1,000
Credit Facility Option to Increase						250
Credit Facility, Maximum Swing Line Borrowings						100
Capital lease obligation	$ 6.2			5.4
Senior notes due 2017 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	500			500
Senior notes due 2018 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	400			400
Senior notes due 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	642.1			621.6
Senior Notes, Noncurrent	$ 500			500	$ 500
Stated interest rate percentage	4.625%				2.625%
Senior notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	$ 500			500
Senior Notes, Noncurrent	500			500	$ 500
Stated interest rate percentage					3.20%
Senior notes due 2025 [Member]
Debt Instrument [Line Items]
Senior Notes, Noncurrent					$ 1,000
Stated interest rate percentage					3.60%
Senior notes due 2023 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	300			300
Senior notes due 2025 [Member] [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	1,000			1,000
Senior notes due 2045 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	$ 900			$ 900
Senior Notes, Noncurrent					$ 900
Stated interest rate percentage					4.70%
Long-term Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	1.68%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt to EBITDA (Leverage) Ratio	0
Credit Facility, Maximum Letters of Credit						125
60-Day Debt Bridge Traunche [Domain]
Debt Instrument [Line Items]
Bridge Term Credit Facility Agreement, Maximum Borrowing Amount						$ 400
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt to EBITDA (Leverage) Ratio				4.75
Maximum [Member] | Covance [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt to EBITDA (Leverage) Ratio		3.75	4.25
Prime Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	0.00% to 0.60%
Prime Rate [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	0.125% to 1.00%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Description	0.125% to 0.40%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	1.00% to 1.60%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	1.125% to 2.00%

PREFERRED STOCK AND COMMON SH28

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Changes in common shares issued and held in treasury	The changes in common shares issued and held in treasury are summarized below: Issued Held in Treasury Outstanding Common shares at December 31, 2015 123.9 (22.6 ) 101.3 Common stock issued under employee stock plans 0.8 — 0.8 Common shares at March 31, 2016 124.7 (22.6 ) 102.1
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The components of accumulated other comprehensive earnings are as follows: Foreign Currency Translation Adjustments Net Benefit Plan Adjustments Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2015 (b) $ (293.0 ) $ (74.4 ) $ (367.4 ) Other comprehensive earnings before reclassifications 134.9 134.9 Amounts reclassified from accumulated other comprehensive earnings to the Condensed Consolidated Statement of Operations (a) — 3.4 3.4 Tax effect of adjustments (28.1 ) (1.1 ) (29.2 ) Balance at March 31, 2016 $ (186.2 ) $ (72.1 ) $ (258.3 )

PENSION AND POSTRETIREMENT PL29

PENSION AND POSTRETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension And Postretirement Plans	The components of the net periodic pension cost for the three months ended March 31, 2016 and March 31, 2015 are as follows: Three Months Ended March 31, 2016 2015 Service cost $ — $ 0.4 Interest cost 0.2 0.9 Net periodic pension cost $ 0.2 $ 1.3 PENSION AND POST-RETIREMENT PLANS The Company’s defined contribution retirement plan (401K Plan) covers substantially all pre-Acquisition employees. All employees eligible for the 401K Plan receive a minimum 3% non-elective contribution concurrent with each payroll period. The 401K Plan also permits discretionary contributions by the Company of up to 1% and up to 3% of pay for eligible employees based on years of service with the Company. The cost of this plan was $13.3 and $12.9 for the three months ended March 31, 2016 and 2015, respectively. As a result of the Acquisition, the Company also incurred expense of $13.7 and $4.7 for the Covance 401K plan during the three months ended March 31, 2016 and 2015, respectively. All of the Covance U.S. employees are eligible to participate in the discretionary Covance 401(k) plan, which features a Company match, based upon a percentage of the employee’s contributions. The Company also maintains a frozen defined benefit retirement plan (Company Plan), which as of December 31, 2009, covered substantially all employees. The benefits to be paid under the Company Plan are based on years of credited service through December 31, 2009 and ongoing interest credits. Effective January 1, 2010, the Company Plan was closed to new participants. The Company’s policy is to fund the Company Plan with at least the minimum amount required by applicable regulations. The Company maintains a second unfunded, non-contributory, non-qualified defined benefit retirement plan (PEP), which as of December 31, 2009, covered substantially all of its senior management group. The PEP supplements the Company Plan and was closed to new participants effective January 1, 2010. The effect on operations for the Company Plan and the PEP is summarized as follows: Three Months Ended March 31, 2016 2015 Service cost for administrative expenses $ 1.2 $ 1.0 Interest cost on benefit obligation 3.9 3.8 Expected return on plan assets (4.2 ) (4.6 ) Net amortization and deferral 2.8 2.7 Defined benefit plan costs $ 3.7 $ 2.9 During the three months ended March 31, 2016 , the Company contributed $2.3 to the Company Plan. The Company has assumed the obligations under a subsidiary’s post-retirement medical plan. Coverage under this plan is restricted to a limited number of existing employees of the subsidiary. The Company funds the plan through monthly contributions to a Health Reimbursement Arrangement, which can be used by eligible participants to purchase health care insurance through insurance exchanges. Effective January 1, 2017, Health Reimbursement Arrangement contributions for Medicare eligible participants will cease. The effect on operations of the post-retirement medical plan is shown in the following table: Three Months Ended March 31, 2016 2015 Service cost for benefits earned $ — $ 0.1 Interest cost on benefit obligation 0.1 0.3 Net amortization and deferral (3.8 ) (2.4 ) Post-retirement medical plan benefits $ (3.7 ) $ (2.0 ) In addition to the PEP, as a result of the Acquisition, the Company also has a frozen non-qualified Supplemental Executive Retirement Plan (SERP). The SERP, which is not funded, is intended to provide retirement benefits for certain executive officers of the Company. Benefit amounts are based upon years of service and compensation of the participating employees. The pension benefit obligation as of the Acquisition Date was $32.8 . The components of the net periodic pension cost for the three months ended March 31, 2016 and March 31, 2015 are as follows: Three Months Ended March 31, 2016 2015 Service cost $ — $ 0.4 Interest cost 0.2 0.9 Net periodic pension cost $ 0.2 $ 1.3 Also as a result of the Acquisition, the Company sponsors a post-employment retiree health and welfare plan for the benefit of eligible employees at certain U.S. subsidiaries who retire after satisfying service and age requirements. Effective January 1, 2017, this Plan will cease directly providing medical, prescription drug and dental coverage options currently available to eligible participants. Instead, the Company will fund the plan through monthly contributions to a Health Reimbursement Arrangement, which can be used by non-Medicare eligible participants to purchase health care insurance through insurance exchanges. The net periodic post-retirement benefit cost for the three months ended March 31, 2016 and 2015 was $0.4 and $0.2 . The pension benefit obligation as of the Acquisition Date was $6.3 . As a result of the Acquisition, the Company sponsors two defined benefit pension plans for the benefit of its employees at two United Kingdom subsidiaries and one defined benefit pension plan for the benefit of its employees at a German subsidiary, all of which are legacy plans of previously acquired companies. Benefit amounts for all three plans are based upon years of service and compensation. The German plan is unfunded while the United Kingdom pension plans are funded. The Company’s funding policy has been to contribute annually a fixed percentage of the eligible employees' salary at least equal to the local statutory funding requirements. United Kingdom Plans Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.8 $ 0.3 Interest cost on benefit obligation 2.2 0.9 Expected return on plan assets (3.1 ) (1.3 ) Net amortization and deferral — 0.2 Defined benefit plan costs $ (0.1 ) $ 0.1 Assumptions used to determine defined benefit plan cost Discount rate 3.8 % 3.6 % Expected return on assets 5.6 % 5.4 % Salary increases 3.6 % 3.5 % German Plan Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.2 $ 0.1 Interest cost on benefit obligation 0.2 — Net amortization and deferral — 0.1 Net (gain) from earlier periods (0.1 ) — Defined benefit plan costs $ 0.3 $ 0.2 Assumptions used to determine defined benefit plan cost Discount rate 2.5 % 2.2 % Expected return on assets N/A N/A Salary increases 2.0 % 2.0 % As a result of the Acquisition, the Company sponsors two defined benefit pension plans for the benefit of its employees at two United Kingdom subsidiaries and one defined benefit pension plan for the benefit of its employees at a German subsidiary, all of which are legacy plans of previously acquired companies. Benefit amounts for all three plans are based upon years of service and compensation. The German plan is unfunded while the United Kingdom pension plans are funded. The Company’s funding policy has been to contribute annually a fixed percentage of the eligible employees' salary at least equal to the local statutory funding requirements. United Kingdom Plans Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.8 $ 0.3 Interest cost on benefit obligation 2.2 0.9 Expected return on plan assets (3.1 ) (1.3 ) Net amortization and deferral — 0.2 Defined benefit plan costs $ (0.1 ) $ 0.1 Assumptions used to determine defined benefit plan cost Discount rate 3.8 % 3.6 % Expected return on assets 5.6 % 5.4 % Salary increases 3.6 % 3.5 % German Plan Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Service cost for administrative expenses $ 0.2 $ 0.1 Interest cost on benefit obligation 0.2 — Net amortization and deferral — 0.1 Net (gain) from earlier periods (0.1 ) — Defined benefit plan costs $ 0.3 $ 0.2 Assumptions used to determine defined benefit plan cost Discount rate 2.5 % 2.2 % Expected return on assets N/A N/A Salary increases 2.0 % 2.0 %
Schedule of Pensions and Postretirement Plans	The effect on operations for the Company Plan and the PEP is summarized as follows: Three Months Ended March 31, 2016 2015 Service cost for administrative expenses $ 1.2 $ 1.0 Interest cost on benefit obligation 3.9 3.8 Expected return on plan assets (4.2 ) (4.6 ) Net amortization and deferral 2.8 2.7 Defined benefit plan costs $ 3.7 $ 2.9

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 is as follows: Fair Value Measurements as of Fair Value as of March 31, 2016 Using Fair Value Hierarchy March 31, 2016 Level 1 Level 2 Level 3 Noncontrolling interest put $ 15.8 $ — $ 15.8 $ — Interest rate swap 42.1 — 42.1 — Cash surrender value of life insurance policies 45.8 — 45.8 — Deferred compensation liability 48.3 — 48.3 — Fair Value Measurements as of Fair Value as of December 31, 2015 Using Fair Value Hierarchy December 31, 2015 Level 1 Level 2 Level 3 Noncontrolling interest put $ 14.9 $ — $ 14.9 $ — Interest rate swap 21.6 — 21.6 — Cash surrender value of life insurance policies 45.5 — 45.5 — Deferred compensation liability 46.4 — 46.4 —

SUPPLEMENTAL CASH FLOW INFORM31

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Three Months Ended March 31, 2016 2015 Supplemental schedule of cash flow information: Cash paid during period for: Interest $ 71.6 $ 14.9 Income taxes, net of refunds 32.9 23.1 Disclosure of non-cash financing and investing activities: Surrender of restricted stock awards and performance awards $ 15.1 $ 7.8 Non-cash stock consideration for the Acquisition — 1,762.5 Assets acquired under capital leases 9.0 16.7 Increase (decrease) accrued property, plant and equipment 2.4 (1.4 )
Supplemental Cash Flow Information	Three Months Ended March 31, 2016 2015 Supplemental schedule of cash flow information: Cash paid during period for: Interest $ 71.6 $ 14.9 Income taxes, net of refunds 32.9 23.1 Disclosure of non-cash financing and investing activities: Surrender of restricted stock awards and performance awards $ 15.1 $ 7.8 Non-cash stock consideration for the Acquisition — 1,762.5 Assets acquired under capital leases 9.0 16.7 Increase (decrease) accrued property, plant and equipment 2.4 (1.4 )

BUSINESS ACQUISITIONS Business

BUSINESS ACQUISITIONS Business Acquisitions Tables (Tables)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information [Table Text Block]		Had the Acquisition been completed as of the beginning of 2014, the Company's pro forma results for 2015 would have been as follows: Three Months Ended March 31, 2015 Total revenues $ 2,146.4 Operating income 272.4 Net income 125.1 Earnings per share: Basic $ 1.23 Diluted $ 1.22
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The valuation of acquired assets and assumed liabilities at the Acquisition Date include the following: Consideration Transferred Cash consideration $ 4,388.2 Stock consideration 1,762.5 $ 6,150.7 Preliminary February 19, 2015 Measurement Period Adjustments Adjusted February 19, 2015 Net Assets Acquired Cash and cash equivalents $ 780.8 $ — $ 780.8 Accounts receivable 334.8 — 334.8 Unbilled services 138.7 — 138.7 Inventories 51.9 — 51.9 Prepaid expenses and other 261.4 86.5 347.9 Deferred income taxes 34.4 61.5 95.9 Property, plant and equipment 844.2 174.0 1,018.2 Goodwill 3,176.1 (82.4 ) 3,093.7 Customer relationships 1,917.2 (86.9 ) 1,830.3 Trade names and trademarks 289.4 (18.9 ) 270.5 Land use right 4.9 (4.9 ) — Technology — 74.5 74.5 Favorable leases — 5.5 5.5 Other assets 15.2 (3.2 ) 12.0 Total assets acquired 7,849.0 205.7 8,054.7 Accounts payable 190.8 — 190.8 Accrued expenses and other 280.8 26.1 306.9 Unearned revenue 168.0 — 168.0 Deferred income taxes 730.2 149.1 879.3 Senior notes 250.0 — 250.0 Other liabilities 78.5 30.5 109.0 Total liabilities acquired 1,698.3 205.7 1,904.0 Net assets acquired $ 6,150.7 $ — $ 6,150.7

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reconciliation of Operating Income to Consolidated [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	The table below represents information about the Company’s reporting segments for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Total revenues: LCD - net revenue $ 1,590.6 $ 1,472.0 CDD - net revenue 704.6 300.3 Total revenues 2,295.2 1,772.3 Operating earnings (loss): LCD 277.0 210.4 CDD 63.0 (50.4 ) Unallocated corporate expenses (38.1 ) (27.6 ) Total operating income 301.9 132.4 Other income (expense), net (45.9 ) (99.9 ) Earnings before income taxes 256.0 32.5 Provision for income taxes 95.5 29.1 Net earnings 160.5 3.4 Less income attributable to noncontrolling interests (0.3 ) (0.3 ) Net income attributable to Laboratory Corporation of America Holdings $ 160.2 $ 3.1

BASIS OF FINANCIAL STATEMENT 34

BASIS OF FINANCIAL STATEMENT PRESENTATION (Details)	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ownership percentage below which investments are generally accounted for on the cost method (in thousandths)	20.00%
LabCorp Diagnostics [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of Revenue Contributed	69.30%
Covance Drug Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of Revenue Contributed	30.70%

EARNINGS PER SHARE (Reconciliat

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
	Mar. 31, 2016	Mar. 31, 2015
Income [Abstract]
Net earnings attributable to Laboratory Corporation of America Holdings	$ 160.2	$ 3.1
Net earnings including impact of dilutive adjustments	$ 160.2	$ 3.1
Shares [Abstract]
Net earnings, basic (in shares)	101.6	91.9
Dilutive effect of employee stock options and awards, (in shares)	1.4	1.2
Effect of convertible debt, net of tax, (in shares)	0.6	0.7
Net earnings including impact of dilutive adjustments, (in shares)	103.6	93.8
Per Share Amount [Abstract]
Basic earnings per common share (in dollars per share)	$ 1.58	$ 0.04
Diluted earnings per common share (in dollars per share)	$ 1.55	$ 0.04

EARNINGS PER SHARE (Potential c

EARNINGS PER SHARE (Potential common shares not included in computation of diluted earnings per share) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Stock options (in shares)	0.3	0

RESTRUCTURING AND OTHER SPECI37

RESTRUCTURING AND OTHER SPECIAL CHARGES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2014	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Goodwill, Acquired During Period	$ 59.4	$ 3,194.6
Loss Contingency Damages Awarded Net			$ 15.8
Restructuring Reserve	84.1			$ 79.2
Restructuring Charges	21.5
Restructuring Reserve Settled With Cash And Other Adjustment	(14.3)
Net restructuring charges	19.2	19.3
Restructuring charges related to severance and other employee costs	4.5	3.2
Restructuring charges related to contractual obligations associated with leased facilities and other facility related costs	17	16.1
Reduction in total prior restructuring accruals	(2.3)
Restructuring Reserve, Current	50.9
Restructuring Reserve, Noncurrent	33.2
Facility Related Restructuring Reserve Accrual Adjustment	2.3
Special charge, wind-down of min volume contract	1.6
Special charge, accelerated equity compensation	1.2
Special charge, accelerated equity compensation	4.1
Covance Drug Development [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill, Acquired During Period	0	2,969
Net restructuring charges	16
Covance Drug Development [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	42			51.5
Restructuring Charges	1.3
Restructuring Reserve Settled With Cash And Other Adjustment	(8.6)
Reduction in total prior restructuring accruals	2.2
Covance Drug Development [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	25.1			1.1
Restructuring Charges	16.9
Restructuring Reserve Settled With Cash And Other Adjustment	(7.1)
Reduction in total prior restructuring accruals	0
LabCorp Diagnostics [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill, Acquired During Period	59.4	225.6
Net restructuring charges	3.2
LabCorp Diagnostics [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1.3			0.1
Restructuring Charges	3.2
Restructuring Reserve Settled With Cash And Other Adjustment	(2)
Reduction in total prior restructuring accruals	0
LabCorp Diagnostics [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	15.7			26.5
Restructuring Charges	0.1
Restructuring Reserve Settled With Cash And Other Adjustment	(10.8)
Reduction in total prior restructuring accruals	(0.1)
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Other Special Charges	1.5	$ 6
Covance [Member]
Restructuring Cost and Reserve [Line Items]
Business Acquisition, Transaction Costs	$ 1.7			166
Covance [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Business Acquisition, Transaction Costs				113.4
Covance [Member] | Interest Expense [Member]
Restructuring Cost and Reserve [Line Items]
Business Acquisition, Transaction Costs				$ 52.6

RESTRUCTURING RESERVES (Details

RESTRUCTURING RESERVES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	$ 79.2
Restructuring charges	21.5
Reduction of prior restructuring accruals	(2.3)
Cash payments and other adjustments	(14.3)
Balance, end of period	84.1
Current		$ 50.9
Non-current		33.2
Total Restructuring Reserve	79.2	84.1
LabCorp Diagnostics [Member] | Severance and Other Employee Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	0.1
Restructuring charges	3.2
Reduction of prior restructuring accruals	0
Cash payments and other adjustments	(2)
Balance, end of period	1.3
Total Restructuring Reserve	0.1	1.3
LabCorp Diagnostics [Member] | Lease and Other Facility Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	26.5
Restructuring charges	0.1
Reduction of prior restructuring accruals	(0.1)
Cash payments and other adjustments	(10.8)
Balance, end of period	15.7
Total Restructuring Reserve	26.5	15.7
Covance Drug Development [Member] | Severance and Other Employee Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	51.5
Restructuring charges	1.3
Reduction of prior restructuring accruals	2.2
Cash payments and other adjustments	(8.6)
Balance, end of period	42
Total Restructuring Reserve	51.5	42
Covance Drug Development [Member] | Lease and Other Facility Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance, beginning of period	1.1
Restructuring charges	16.9
Reduction of prior restructuring accruals	0
Cash payments and other adjustments	(7.1)
Balance, end of period	25.1
Total Restructuring Reserve	$ 1.1	$ 25.1

GOODWILL AND INTANGIBLE ASSET39

GOODWILL AND INTANGIBLE ASSETS (Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Goodwill [Line Items]
Severance Costs	$ 4.5	$ 3.2
Intangible Assets, Gross (Excluding Goodwill)	4,480.6		$ 4,356
Balance as of January 1	6,191.9	3,099.4
Goodwill, Acquired During Period	59.4	3,194.6
Adjustments to goodwill	1.1	(102.1)
Balance at end of period	6,252.4
Finite-Lived Intangible Assets, Accumulated Amortization	1,070.2		1,023.6
Intangible Assets, Net (Excluding Goodwill)	3,410.4		3,332.4
LabCorp Diagnostics [Member]
Goodwill [Line Items]
Balance as of January 1	3,201.7	2,988.9
Goodwill, Acquired During Period	59.4	225.6
Adjustments to goodwill	(21.1)	(12.8)
Balance at end of period	3,240
Covance Drug Development [Member]
Goodwill [Line Items]
Balance as of January 1	2,990.2	110.5
Goodwill, Acquired During Period	0	2,969
Adjustments to goodwill	22.2	$ (89.3)
Balance at end of period	3,012.4
Customer Relationships [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	3,220.7		3,137.8
Finite-Lived Intangible Assets, Accumulated Amortization	758.1		725.6
Intangible Assets, Net (Excluding Goodwill)	2,462.6		2,412.2
Patents, Licenses And Technology [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	322.2		309.6
Finite-Lived Intangible Assets, Accumulated Amortization	150.9		144.7
Intangible Assets, Net (Excluding Goodwill)	171.3		164.9
Noncompete Agreements [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	49.8		51.2
Finite-Lived Intangible Assets, Accumulated Amortization	38.3		37.2
Intangible Assets, Net (Excluding Goodwill)	11.5		14
Trade Names [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	402.8		400.9
Finite-Lived Intangible Assets, Accumulated Amortization	122.1		115.5
Intangible Assets, Net (Excluding Goodwill)	280.7		285.4
Use Rights [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	5.5		5.5
Finite-Lived Intangible Assets, Accumulated Amortization	0.8		0.6
Intangible Assets, Net (Excluding Goodwill)	4.7		4.9
Canadian licenses [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	479.6		451
Finite-Lived Intangible Assets, Accumulated Amortization	0		0
Intangible Assets, Net (Excluding Goodwill)	$ 479.6		$ 451

GOODWILL AND INTANGIBLE ASSET40

GOODWILL AND INTANGIBLE ASSETS (Components of identifiable intangible assets) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 4,480.6	$ 4,356
Accumulated Amortization	(1,070.2)	(1,023.6)
Intangible Assets, Net (Excluding Goodwill)	3,410.4	3,332.4
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	3,220.7	3,137.8
Accumulated Amortization	(758.1)	(725.6)
Intangible Assets, Net (Excluding Goodwill)	2,462.6	2,412.2
Patents, Licenses And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	322.2	309.6
Accumulated Amortization	(150.9)	(144.7)
Intangible Assets, Net (Excluding Goodwill)	171.3	164.9
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	49.8	51.2
Accumulated Amortization	(38.3)	(37.2)
Intangible Assets, Net (Excluding Goodwill)	11.5	14
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	402.8	400.9
Accumulated Amortization	(122.1)	(115.5)
Intangible Assets, Net (Excluding Goodwill)	280.7	285.4
Use Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	5.5	5.5
Accumulated Amortization	(0.8)	(0.6)
Intangible Assets, Net (Excluding Goodwill)	4.7	4.9
Canadian licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	479.6	451
Accumulated Amortization	0	0
Intangible Assets, Net (Excluding Goodwill)	$ 479.6	$ 451

GOODWILL AND INTANGIBLE ASSET41

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Jan. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Senior Notes, Noncurrent				$ 2,900
Goodwill	$ 6,252.4		$ 6,191.9		$ 3,099.4
Amortization of intangible assets	44.3	$ 31.1
Finite-Lived Intangible Assets, Future Amortization Expense
Estimated amortization expense, 2012						$ 106
Estimated amortization expense, 2013						167.1
Estimated amortization expense, 2014						156.3
Estimated amortization expense, 2015						149.4
Estimated amortization expense, 2016						$ 143
Estimated amortization expense, Thereafter	2,030.8
LabCorp Diagnostics [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	3,240		3,201.7		2,988.9
Covance Drug Development [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 3,012.4		$ 2,990.2		$ 110.5
Senior notes due 2045 [Member]
Finite-Lived Intangible Assets [Line Items]
Senior Notes, Noncurrent				$ 900

DEBT (Senior Notes) (Details)

DEBT (Senior Notes) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2016	Jun. 30, 2015	Dec. 31, 2015	Feb. 19, 2015	Jan. 30, 2015	Dec. 19, 2014
Debt Instrument [Line Items]
Line of Credit, Current	$ 0
Convertible Subordinated Debt, Current	95		$ 94.5
Senior Notes current 2015	325		325
Short term debt issuance costs	0.8		1
Long-term Debt, Excluding Current Maturities	$ 5,969.5		5,940.3
Line of Credit Facility, Maximum Borrowing Capacity						$ 1,000
Credit Facility Option to Increase						250
Credit Facility, Maximum Swing Line Borrowings						$ 100
Senior Notes, Noncurrent					$ 2,900
Debt Instrument, Basis Spread on Variable Rate	2.298%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 715		715
Long term debt issuance costs	49.7		51.8
Capital Lease Obligations, Noncurrent	62.1
Other Long-term Debt	715		55.5
Capital Lease Obligations, Current	6.2		5.4
Debt, Current	425.4		423.9
Senior notes due 2018 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	400		400
Senior notes due 2023 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	300		300
Senior notes due 2025 [Member] [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	1,000		1,000
Senior notes due 2045 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	900		900
Senior Notes, Noncurrent					$ 900
Stated interest rate percentage					4.70%
Senior notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	500		500
Senior Notes, Noncurrent	500		500		$ 500
Stated interest rate percentage					3.20%
Senior notes due 2025 [Member]
Debt Instrument [Line Items]
Senior Notes, Noncurrent					$ 1,000
Stated interest rate percentage					3.60%
Senior notes due 2017 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	500		500
Senior notes due 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	642.1		621.6
Senior Notes, Noncurrent	$ 500		$ 500		$ 500
Stated interest rate percentage	4.625%				2.625%
Covance [Member]
Debt Instrument [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt				$ 250
Make-whole payment		$ 37.4

DEBT (Convertible Subordinated

DEBT (Convertible Subordinated Notes) (Details)	3 Months Ended
	Mar. 31, 2016USD ($)shares
Zero Coupon Convertible Subordinated Notes [Line Items]
Number of trading days used to establish contingent cash interest rate on zero-coupon subordinated notes (in days)	five
Zero-coupon convertible subordinated notes [Member]
Zero Coupon Convertible Subordinated Notes [Line Items]
Minimum contingent cash interest rate on zero-coupon subordinated notes (in hundredths)	0.125%
Stock conversion rate for zero-coupon subordinated notes (per thousand) | shares	13.4108
Principal amount of zero-coupon subordinated notes | $	$ 1,000

DEBT (Credit Facilities) (Detai

DEBT (Credit Facilities) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015USD ($)	Jan. 30, 2015USD ($)	Dec. 19, 2014USD ($)	Jun. 30, 2011USD ($)
Line of Credit Facility [Line Items]
Previously Recorded Litigation Reserve In Connection With False Claims Act Lawsuit							$ 15
Senior Notes, Noncurrent					$ 2,900
Convertible Subordinated Debt, Current	$ 95			$ 94.5
Senior Notes current 2015	$ 325			325
Long-term Debt, Maturities, Repayment Terms	P5Y
Line of Credit, Current	$ 0
Line of Credit Facility, Fair Value of Amount Outstanding	715			715
Revolving Credit Facility, maximum borrowing capacity						$ 1,000
Capital Lease Obligations, Current	6.2			5.4
Debt, Current	425.4			423.9
Other Long-term Debt	$ 715			55.5
Credit Facility Option to Increase						250
Credit Facility, Maximum Swing Line Borrowings						100
Long-term Debt [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, interest rate at period end	1.68%
Senior notes due 2020 [Member]
Line of Credit Facility [Line Items]
Senior Notes, Noncurrent	$ 500			500	$ 500
Debt Instrument, Interest Rate, Stated Percentage	4.625%				2.625%
Senior notes due 2025 [Member]
Line of Credit Facility [Line Items]
Senior Notes, Noncurrent					$ 1,000
Debt Instrument, Interest Rate, Stated Percentage					3.60%
Senior notes due 2045 [Member]
Line of Credit Facility [Line Items]
Senior Notes, Noncurrent					$ 900
Debt Instrument, Interest Rate, Stated Percentage					4.70%
Senior notes due 2022 [Member]
Line of Credit Facility [Line Items]
Senior Notes, Noncurrent	$ 500			$ 500	$ 500
Debt Instrument, Interest Rate, Stated Percentage					3.20%
60-Day Debt Bridge Traunche [Domain]
Line of Credit Facility [Line Items]
Bridge Term Credit Facility Agreement, Maximum Borrowing Amount						400
Target Ratio to Resume Share Repurchase [Member]
Line of Credit Facility [Line Items]
Debt to EBITDA (leverage) ratio	2.5
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility, Maximum Letters of Credit						$ 125
Debt to EBITDA (leverage) ratio	0
Line of Credit Facility, Interest Rate at Period End	1.53%
Maximum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt to EBITDA (leverage) ratio				4.75
Covance [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt to EBITDA (leverage) ratio		3.75	4.25
Prime Rate [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description	0.125% to 1.00%
Prime Rate [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description	0.00% to 0.60%
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Description	0.125% to 0.40%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description	1.125% to 2.00%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description	1.00% to 1.60%
Excluding Underwriting Discounts & Other Fees [Member]
Line of Credit Facility [Line Items]
Senior Notes, Noncurrent					$ 2,870.2

PREFERRED STOCK AND COMMON SH45

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Class of Stock [Line Items]
Common Stock, Shares Authorized	265
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.10
Preferred Stock, Shares Authorized	30
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.10
Rollforward of common shares issued
Common shares issued, beginning balance (in shares)	123.9
Common stock issued under employee stock plans (in shares)	0.8
Common shares issued, ending balance (in shares)	124.7
Rollforward of common shares held in treasury
Common shares held in Treasury, beginning balance (in shares)	(22.6)
Common shares held in Treasury, ending balance (in shares)	(22.6)
Rollforward of common shares outstanding
Common shares outstanding, beginning balance (in shares)	101.3
Common stock issued under employee stock plans (in shares)	0.8
Common shares outstanding, ending balance (in shares)	102.1
Rollforward of Share Repurchase Program
Outstanding common stock repurchase authorization, ending balance | $	$ 789.5
Target Ratio to Resume Share Repurchase [Member]
Class of Stock [Line Items]
Debt to EBITDA (Leverage) Ratio	2.5

PREFERRED STOCK AND COMMON SH46

PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY - Accumulated Other Comprehensive Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive earnings are as follows: Foreign Currency Translation Adjustments Net Benefit Plan Adjustments Accumulated Other Comprehensive Earnings (Loss) Balance at December 31, 2015 (b) $ (293.0 ) $ (74.4 ) $ (367.4 ) Other comprehensive earnings before reclassifications 134.9 134.9 Amounts reclassified from accumulated other comprehensive earnings to the Condensed Consolidated Statement of Operations (a) — 3.4 3.4 Tax effect of adjustments (28.1 ) (1.1 ) (29.2 ) Balance at March 31, 2016 $ (186.2 ) $ (72.1 ) $ (258.3 )
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	$ 0
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments and Tax
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	$ 3.4
Other Comprehensive Income (Loss), before Reclassifications, before Tax	134.9
Accumulated Other Comprehensive Earnings [Roll Forward]
Foreign Currency Translation Adjustments, Beginning balance	(293)
Other comprehensive income before reclassifications	134.9
Tax effect of adjustments	(28.1)
Foreign Currency Translation Adjustments, Ending balance	(186.2)
Net Benefit Plan Adjustments, Beginning balance	(74.4)
Amounts reclassified from accumulated other comprehensive income	3.4
Tax effect of adjustments	(1.1)
Net Benefit Plan Adjustments, Ending balance	(72.1)
Accumulated Other Comprehensive Earnings, Beginning balance	(367.4)
Other comprehensive income before reclassifications	134.9
Amounts reclassified from accumulated other comprehensive income	3.4
Tax effect of adjustments	(29.2)	$ 47.1
Accumulated Other Comprehensive Earnings, Ending balance	$ (258.3)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Gross unrecognized income tax benefits	$ 24.2
Accrued interest and penalties related to unrecognized income tax benefits	13.2	$ 12.7
Valuation allowance provided for deferred tax assets	$ 14.8	$ 15.1

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2011USD ($)	Jun. 30, 2011USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Mar. 31, 2016USD ($)	Feb. 19, 2015USD ($)	Aug. 24, 2012Recipients$ / Violation
Loss Contingencies [Line Items]
Litigation settlement expense in connection with the California False Claims Act lawsuit		$ 34.5
Previously Recorded Litigation Reserve In Connection With False Claims Act Lawsuit		$ 15
Litigation Settlement, Gross	$ 49.5
Payment reduction by Assembly Bill No. 97				10.00%
Percent of lowest maximum (cap on payments)				80.00%
Loss Contingency, Damages Awarded, Value					$ 50
Loss Contingency Damages Awarded Gross			$ 20.8	$ 0.2
Number of Recipients | Recipients								39
Proposed damages per violation | $ / Violation								0.0005
Loss Contingency Damages Awarded Net			$ 15.8
Reduction for Plaintiff Negligence			25.00%
Company's apportioned responsibility					50.00%
Co-defendant's apportioned responsibility					50.00%
Loss contingency reduced damages awarded gross			$ 5
Loss contingency reduced damages awarded net			$ 4.4
Purchase Price Per Share | $ / shares				$ 5.25
Amount Outstanding Letters Of Credit						$ 55
Covance [Member]
Loss Contingencies [Line Items]
Total acquisition consideration (cash and non-cash)							$ 6,150.7
Tri-State Clinical Laboratory Services, LLC [Member]
Loss Contingencies [Line Items]
Ownership interest percentage, parent		50.00%

PENSION AND POSTRETIREMENT PL49

PENSION AND POSTRETIREMENT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Feb. 19, 2015
Defined Benefit Plan Disclosures [Line Items]
Compensation and Employee Benefit Plans [Text Block]	The effect on operations of the post-retirement medical plan is shown in the following table: Three Months Ended March 31, 2016 2015 Service cost for benefits earned $ — $ 0.1 Interest cost on benefit obligation 0.1 0.3 Net amortization and deferral (3.8 ) (2.4 ) Post-retirement medical plan benefits $ (3.7 ) $ (2.0 )
Pension Contributions	$ 0
Minimum non-elective contribution (NEC) % for the 401(K) plan (in hundredths)	3.00%
Discretionary Contribution Percentage Mininum	1.00%
Discretionary Contribution Percentage Maximum	3.00%
Defined contribution retirement plan cost	$ 13.3	$ 12.9
Pension Plan [Member]
Defined Benefit Plan and Postretirement Plan Disclosure
Service cost for benefits earned	1.2	1
Interest cost on benefit obligation	3.9	3.8
Expected return on plan assets	(4.2)	(4.6)
Net amortization and deferral	2.8	2.7
Defined benefit/postretirement plan costs	3.7	2.9
Postretirement Health Coverage [Member]
Defined Benefit Plan Disclosures [Line Items]
Defined Benefit Plan, Benefit Obligation			$ 6.3
Defined Benefit Plan and Postretirement Plan Disclosure
Defined benefit/postretirement plan costs	0.4	0.2
Other Pension Plan, Postretirement or Supplemental Plans [Member]
Defined Benefit Plan and Postretirement Plan Disclosure
Service cost for benefits earned	0.8	0.3
Interest cost on benefit obligation	2.2	0.9
Expected return on plan assets	(3.1)	(1.3)
Net amortization and deferral	0	0.2
Defined benefit/postretirement plan costs	$ (0.1)	$ 0.1
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	3.80%	3.60%
Defined Benefit Plan Expected Rate Of Return On Assets Other Assets	5.60%	5.40%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	3.60%	3.50%
Other Pension Plan [Member]
Defined Benefit Plan and Postretirement Plan Disclosure
Service cost for benefits earned	$ 0.2	$ 0.1
Interest cost on benefit obligation	0.2	0
Net amortization and deferral	0	0.1
Defined Benefit Plan, Other Changes	(0.1)	0
Defined benefit/postretirement plan costs	$ 0.3	$ 0.2
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.50%	2.20%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	2.00%	2.00%
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan Disclosures [Line Items]
Defined Benefit Plan, Benefit Obligation			$ 32.8
Defined Benefit Plan and Postretirement Plan Disclosure
Service cost for benefits earned	$ 0	$ 0.4
Interest cost on benefit obligation	0.2	0.9
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments	0.2	1.3
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan and Postretirement Plan Disclosure
Service cost for benefits earned	0	0.1
Interest cost on benefit obligation	0.1	0.3
Net amortization and deferral	(3.8)	(2.4)
Defined benefit/postretirement plan costs	(3.7)	(2)
Covance [Member]
Defined Benefit Plan Disclosures [Line Items]
Defined contribution retirement plan cost	$ 13.7	$ 4.7

PENSION AND POSTRETIREMENT PL50

PENSION AND POSTRETIREMENT PLANS Defined Contribution Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Non Elective Contribution	3.00%
Defined Contribution Plan, Cost Recognized	$ 13.3	$ 12.9
Discretionary Contribution Percentage Mininum	1.00%
Discretionary Contribution Percentage Maximum	3.00%
Covance [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost Recognized	$ 13.7	4.7
Postretirement Health Coverage [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost	$ 0.4	$ 0.2

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	$ 15.8	$ 14.9
Fair market value of zero-coupon subordinated notes	167.5	177.1
Fair market value of senior notes	6,220.5	6,070.5
Cash Surrender Value, Fair Value Disclosure	45.8	45.5
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	48.3	46.4
Level 1 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	0	0
Cash Surrender Value, Fair Value Disclosure	0	0
Fair Value Hedges, Net	0	0
Level 2 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	15.8	14.9
Cash Surrender Value, Fair Value Disclosure	45.8	45.5
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	0	0
Fair Value Hedges, Net	42.1	21.6
Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Financial Statement Captions [Line Items]
Noncontrolling interest puts	0	0
Cash Surrender Value, Fair Value Disclosure	0	0
Fair Value Liabilities Measured On Recurring Basis Deferred Compensation Liability	0	0
Fair Value Hedges, Net	$ 0	$ 0

DERIVATIVE INSTRUMENTS AND HE52

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Jan. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Long-term Debt, Excluding Current Maturities	$ 5,969,500,000	$ 5,940,300,000
Debt Instrument, Basis Spread on Variable Rate	2.298%
Minimum percentage of market price to calculated value of zero-coupon subordinated debt at which the entity is subject to contingent cash interest	120.00%
Embedded derivative, fair value	$ 0
Embedded derivative, impact on condensed consolidated statements of operations	$ 0
Senior notes due 2020 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.625%		2.625%
Long-term Debt, Excluding Current Maturities	$ 642,100,000	$ 621,600,000
Senior Long Term Notes Due2020 Member
Derivative Instruments, Gain (Loss) [Line Items]
Long-term Debt, Excluding Current Maturities	$ 600,000,000

SUPPLEMENTAL CASH FLOW INFORM53

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Debt Conversion [Line Items]
Noncash conversion of zero-coupon convertible debt	$ 0	$ 1,762.5
Fair Value of Assets Acquired	9	16.7
Capital Expenditures Incurred but Not yet Paid	(2.4)	(1.4)
Cash paid during period for:
Interest	71.6	14.9
Income taxes, net of refunds	32.9	23.1
Disclosure of non-cash financing and investing activities:
Restricted Stock Awards And Performance Shares Surrendered	15.1	7.8
Other Significant Noncash Transaction, Value of Consideration Given	$ 11.9	$ 33.2

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details) - USD ($) $ / shares in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Feb. 19, 2015	Jan. 30, 2015	Dec. 31, 2014
Business Combination Purchase Price Allocation [Line Items]
Revenues	$ 2,368	$ 1,793.2
Operating Income (Loss)	$ 301.9	132.4
Proforma consolidated diluted earnings per share	$ 1,220
Other Long-term Debt	$ 715		$ 55.5
Other Significant Noncash Transaction, Value of Consideration Given	11.9	33.2
Net Income (Loss) Attributable to Parent	160.2	3.1
Goodwill, Acquired During Period	59.4	3,194.6
Senior Notes, Noncurrent					$ 2,900
Goodwill	6,252.4		$ 6,191.9			$ 3,099.4
Cash payments for laboratory-related assets	71.4	33.8
Payments to Acquire Businesses, Net of Cash Acquired	93.3	$ 3,622.2
Cash consideration				$ 780.8
Business Combination, Acquired Receivables, Fair Value				334.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory				51.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent				95.9
Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Revenues	2,146.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets				12
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets				8,054.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable				190.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities				306.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue				168
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent				879.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt				250
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				109
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				1,904
Operating Income (Loss)	$ 272.4
Basic Earnings Per Share, Pro Forma	$ 1,230
Net Income (Loss) Attributable to Parent	$ 125.1
Total acquisition consideration (cash and non-cash)				6,150.7
Cash consideration				780.8
Business Combination, Acquired Receivables, Fair Value				334.8
Unbilled Receivables, Current				138.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory				51.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent				34.4
Covance [Member] | Depreciation Expense [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Items		1.9
Covance [Member] | Amortization expense [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Items		.3
Covance [Member] | Interest Expense [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Items		.2
Covance [Member] | Other Comprehensive Income (Loss) [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Items		122.2	102.7
Liabilities, Total [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	205.7
Other Liabilities [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	30.5
Senior Notes [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
Deferred income tax liability [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	149.1
Deferred Revenue [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
Accrued Liabilities [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	26.1
Accounts Payable [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
Assets, Total [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	205.7
Other Assets [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	(3.2)
Goodwill [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	(82.4)
Property, Plant and Equipment [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	174
Deferred tax asset [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	61.5
Prepaid Expenses and Other Current Assets [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	86.5
Inventories [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
Accounts Receivable [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
Cash and Cash Equivalents [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
unbilled services [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination Purchase Price Allocation [Table Text Block]	0
Goodwill [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				3,093.7
Scenario, Previously Reported [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets				7,849
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent				730.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				78.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				1,698.3
Scenario, Previously Reported [Member] | Accounts Payable [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				190.8
Scenario, Previously Reported [Member] | Prepaid Expenses and Other Current Assets [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				261.4
Scenario, Previously Reported [Member] | Accrued Liabilities [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				280.8
Scenario, Previously Reported [Member] | Other Assets [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				15.2
Scenario, Previously Reported [Member] | Goodwill [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				3,176.1
Use Rights [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years
Use Rights [Member] | Scenario, Previously Reported [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				4.9
Trademarks and Trade Names [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Customer Relationships [Member]
Business Combination Purchase Price Allocation [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	27 years
Customer Relationships [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				1,018.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				1,830.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				347.9
Customer Relationships [Member] | Scenario, Previously Reported [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				844.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				1,917.2
Software and Software Development Costs [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				74.5
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Software and Software Development Costs [Member] | Scenario, Previously Reported [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				0
Off-Market Favorable Lease [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				5.5
Off-Market Favorable Lease [Member] | Scenario, Previously Reported [Member] | Covance [Member]
Business Combination Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				$ 0

BUSINESS ACQUISITIONS Busines55

BUSINESS ACQUISITIONS Business Acquisitions in the Aggregate (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015	Dec. 31, 2015	Feb. 19, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Cash consideration					$ 780.8
Other Long-term Debt	$ 715			$ 55.5
Revenues	2,368	$ 1,793.2
Payments to Acquire Businesses, Net of Cash Acquired	93.3	3,622.2
Goodwill, Acquired During Period	59.4	$ 3,194.6
Business Combination, Acquired Receivables, Fair Value					334.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory					51.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent					95.9
Goodwill	6,252.4			$ 6,191.9		$ 3,099.4
Covance [Member]
Business Acquisition [Line Items]
Make-whole payment			$ 37.4
Cash paid for acquisition					4,388.2
Total acquisition consideration (cash and non-cash)					6,150.7
Cash consideration					780.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent					879.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					250
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable					190.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities					306.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue					168
Revenues	2,146.4
Business Combination, Acquired Receivables, Fair Value					334.8
Unbilled Receivables, Current					138.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory					51.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent					34.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets					12
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					8,054.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					109
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					1,904
Excluding Covance [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	93.3
Finite-lived Intangible Assets Acquired	37.3
Goodwill, Acquired During Period	$ 59.4
Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	27 years
Customer Relationships [Member] | Covance [Member]
Business Acquisition [Line Items]
Prepaid expenses and other					347.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					1,018.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					1,830.3
Customer Relationships [Member] | Covance, Inc. [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	$ (86.9)
Trademarks and Trade Names [Member] | Covance [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Trademarks and Trade Names [Member] | Covance, Inc. [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	$ (18.9)
Trade Names [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					270.5
Use Rights [Member] | Covance [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					0
Use Rights [Member] | Covance, Inc. [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	$ (4.9)
Software and Software Development Costs [Member] | Covance [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					74.5
Software and Software Development Costs [Member] | Covance, Inc. [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	$ 74.5
Off-Market Favorable Lease [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					5.5
Off-Market Favorable Lease [Member] | Covance, Inc. [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	$ 5.5
Scenario, Previously Reported [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent					730.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					7,849
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					78.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					1,698.3
Scenario, Previously Reported [Member] | Customer Relationships [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					844.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					1,917.2
Scenario, Previously Reported [Member] | Trade Names [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					289.4
Scenario, Previously Reported [Member] | Use Rights [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					4.9
Scenario, Previously Reported [Member] | Software and Software Development Costs [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					0
Scenario, Previously Reported [Member] | Off-Market Favorable Lease [Member] | Covance [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					$ 0

BUSINESS SEGMENT INFORMATION 56

BUSINESS SEGMENT INFORMATION Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Total net revenues	$ 2,295.2	$ 1,772.3
Reimbursement Revenue	72.8	20.9
Revenues	2,368	1,793.2
Operating Income (Loss)	301.9	132.4
Earnings before income taxes	256	32.5
Provision for income taxes	256	32.5
Provision for income taxes	95.5	29.1
Net earnings	160.5	3.4
Net income attributable to Laboratory Corporation of America Holdings	(0.3)	(0.3)
Income Loss from Continuing Operations Before Income Taxes and Minority Interest	(45.9)	(99.9)
Net Income (Loss) Attributable to Parent	160.2	3.1
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (38.1)	(27.6)
LabCorp Diagnostics [Member]
Segment Reporting Information [Line Items]
Percent of Revenue Contributed	69.30%
Total net revenues	$ 1,590.6	1,472
Operating Income (Loss)	$ 277	210.4
Covance Drug Development [Member]
Segment Reporting Information [Line Items]
Percent of Revenue Contributed	30.70%
Total net revenues	$ 704.6	300.3
Operating Income (Loss)	$ 63	$ (50.4)