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BUSINESS ACQUISITIONS
 12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
BUSINESS ACQUISITIONS BUSINESS ACQUISITIONS AND DISPOSITIONS
2023
During the year ended December 31, 2023, the Company acquired several businesses and related assets for cash of approximately $671.5. The preliminary purchase considerations for these acquisitions were allocated under the acquisition method of accounting to the estimated fair market value of the net assets acquired, including approximately $340.8 in identifiable intangible assets and a residual amount of tax-deductible goodwill of approximately $296.9  The goodwill reflects the Company's expectations to utilize the acquired businesses’ workforce and established relationships and the benefits of being able to leverage operational efficiencies with favorable growth opportunities in these markets. The amortization period for non-compete agreements and customer list assets acquired from these businesses are 5 and 15 years, respectively. These acquisitions were made primarily to extend the Company's geographic reach in important market areas and to partner with hospitals and health systems. The purchase price allocations for these acquisitions have not been finalized as of December 31, 2023. The preliminary valuation of acquired assets and assumed liabilities, include the following:
Jefferson HealthEnzo BioChemProvidence Health and Services - OregonTufts MedicineLegacyOther Business AcquisitionsMeasurement Period AdjustmentsAmounts Acquired During the Year Ended December 31, 2023
Accounts receivable$— $(2.8)$— $— $— $2.0 $0.2 $(0.6)
Inventories— — 1.3 — — — — 1.3 
Prepaid expenses and other— 0.4 — — 0.2 0.3 0.6 1.5 
Property, plant and equipment— — 4.7 — 3.3 6.5 (1.5)13.0 
Goodwill50.8 54.1 50.7 73.8 49.0 18.5 (29.4)267.5 
Intangible assets57.2 61.1 57.2 83.2 55.2 26.9 19.5 360.3 
Other assets2.2 — — — — 17.9 — 20.1 
Total assets acquired110.2 112.8 113.9 157.0 107.7 72.1 (10.6)663.1 
Accounts payable— — — — — 1.2 — 1.2 
Accrued expenses and other— — 3.9 — — 1.2 (8.3)(3.2)
Deferred income taxes— — — — — — (2.3)(2.3)
Other liabilities— — — — — (4.1)— (4.1)
Total liabilities acquired— — 3.9 — — (1.7)(10.6)(8.4)
Net assets acquired$110.2 $112.8 $110.0 $157.0 $107.7 $73.8 $— $671.5 
Unaudited Pro Forma Information for 2023 Acquisitions
Had the aggregate of the Company's 2023 acquisitions been completed as of January 1, 2022, the Company's pro forma results would have been as follows:
Years Ended December 31,
20232022
Revenues$12,350.1 $12,126.3 
Earnings from continuing operations
397.2 1,030.3 
2022
During the year ended December 31, 2022, the Company acquired various businesses and related assets for approximately $1,164.0 in cash (net of cash acquired). The purchase consideration for all acquisitions year to date has been allocated to the estimated fair market value of the net assets acquired, including approximately $542.3 in identifiable intangible assets and a residual amount of non-tax-deductible goodwill of approximately $598.5. The amortization periods for intangible assets acquired from these transactions range from 15 to 19 years for customer relationships, 15 years for patents and technology, 5 years for non-compete agreements, and 5 to 10 years for trade names. These acquisitions were made primarily to extend the Company's geographic reach in important market areas and enhance the Company's scientific differentiation. The excess of the fair value of the consideration conveyed over the fair value of the net assets acquired was recorded as goodwill. The goodwill reflects the Company's expectations to utilize the acquired businesses’ workforce and established relationships and the benefits of being able to leverage operational efficiencies with favorable growth opportunities in these markets. The purchase price allocation for several of these transaction was preliminary for the year ended December 31, 2022. The areas of the purchase
price allocation that were not yet finalized related primarily to property, plant and equipment, intangible assets, goodwill and deferred income taxes. A summary of the net assets acquired in 2022 for these businesses is included below:

Preliminary Personal Genome Diagnostics Inc.Preliminary Ascension HealthcareOther AcquisitionsMeasurement Period AdjustmentsAmounts Acquired During Year Ended December 31, 2022
Accounts receivable$4.1 $— $(1.3)$(2.3)$0.5 
Unbilled services2.9 — — (3.2)(0.3)
Inventories2.5 24.6 — — 27.1 
Prepaid expenses and other1.2 0.4 0.3 — 1.9 
Property, plant and equipment9.9 43.5 0.1 — 53.5 
Deferred income taxes17.5 — — 15.2 32.7 
Goodwill346.8 125.0 126.7 (40.4)558.1 
Intangible assets136.6 233.2 172.5 30.4 572.7 
Other assets12.5 — 2.3 (2.3)12.5 
Total assets acquired534.0 426.7 300.6 (2.6)1,258.7 
Accounts payable3.8 — — (0.1)3.7 
Accrued expenses and other57.3 — 15.4 0.1 72.8 
Unearned revenue3.3 — — (2.6)0.7 
Lease liabilities— 2.9 — — 2.9 
Other liabilities14.6 — — — 14.6 
Total liabilities acquired79.0 2.9 15.4 (2.6)94.7 
Net assets acquired$455.0 $423.8 $285.2 $— $1,164.0 
Unaudited Pro Forma Information for 2022 Acquisitions
Had the aggregate of the Company's 2022 acquisitions been completed as of January 1, 2021, the Company's pro forma results would have been as follows:
Years Ended December 31,
20222021
Revenues$11,984.7 $13,325.7 
Earnings from continuing operations
1,006.8 2,182.4 
2021
During the year ended December 31, 2021, the Company acquired various businesses and related assets for approximately $496.9 in cash (net of cash acquired). The purchase consideration for all acquisitions year to date has been allocated to the estimated fair market value of the net assets acquired, including approximately $198.5 in identifiable intangible assets and a residual amount of non-tax-deductible goodwill of approximately $298.4. The amortization periods for intangible assets acquired from these businesses range from 15 to 19 years for customer relationships, 5 to 15 years for patents and technology, 5 years for non-compete agreements, and 10 years for trade names. These acquisitions were made primarily to extend the Company's geographic reach in important market areas and enhance the Company's scientific differentiation. The excess of the fair value of the consideration conveyed over the fair value of the net assets acquired was recorded as goodwill. The goodwill reflects the Company's expectations to utilize the acquired businesses’ workforce and established relationships and the benefits of being able to leverage operational efficiencies with favorable growth opportunities in these markets. A summary of the net assets acquired in 2021 for these businesses is included below:
Amounts Acquired During Year Ended December 31, 2021
Accounts receivable$10.8 
Unbilled services3.2 
Inventories1.6 
Prepaid expenses and other3.0 
Property, plant and equipment56.6 
Goodwill298.4 
Intangible assets198.5 
Total assets acquired572.1 
Accounts payable2.5 
Accrued expenses and other3.9 
Unearned revenue6.6 
Other liabilities62.2 
Total liabilities acquired75.2 
Net assets acquired$496.9 
Unaudited Pro Forma Information for 2021 Acquisitions
Had the aggregate of the Company's 2021 acquisitions been completed as of January 1, 2021, the Company's pro forma results would have been as follows:
Years Ended December 31, 2021
Revenues$13,231.8 
Earnings from continuing operations
2,198.6