XML 42 R29.htm IDEA: XBRL DOCUMENT
v3.19.2

FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Fair Value, Measurement Inputs | The following table provides a summary of the recognized assets and liabilities that are measured at fair value on a recurring basis:
|  |  | Basis of Fair Value Measurements
|  |  | Quoted Prices in Active Markets for Identical Assets / Liabilities |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
June 30, 2019 | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |  |  |
Trading securities | $ | 56 |  |  | $ | 56 |  |  | $ | — |  |  | $ | — |
Cash surrender value of life insurance policies | 40 |  |  | — |  |  | 40 |  |  | — |
Total | $ | 96 |  |  | $ | 56 |  |  | $ | 40 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Deferred compensation liabilities | $ | 104 |  |  | $ | — |  |  | $ | 104 |  |  | $ | — |
Interest rate swaps | 37 |  |  | — |  |  | 37 |  |  | — |
Contingent consideration | 13 |  |  | — |  |  | — |  |  | 13 |
Total | $ | 154 |  |  | $ | — |  |  | $ | 141 |  |  | $ | 13 |
Redeemable noncontrolling interest | $ | 76 |  |  | $ | — |  |  | $ | — |  |  | $ | 76 |
|  |  | Basis of Fair Value Measurements
December 31, 2018 | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |  |  |
Trading securities | $ | 53 |  |  | $ | 53 |  |  | $ | — |  |  | $ | — |
Cash surrender value of life insurance policies | 34 |  |  | — |  |  | 34 |  |  | — |
Total | $ | 87 |  |  | $ | 53 |  |  | $ | 34 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Deferred compensation liabilities | $ | 96 |  |  | $ | — |  |  | $ | 96 |  |  | $ | — |
Interest rate swaps | 93 |  |  | — |  |  | 93 |  |  | — |
Contingent consideration | 14 |  |  | — |  |  | — |  |  | 14 |
Total | $ | 203 |  |  | $ | — |  |  | $ | 189 |  |  | $ | 14 |
Redeemable noncontrolling interest | $ | 77 |  |  | $ | — |  |  | $ | — |  |  | $ | 77 |
In connection with previous business acquisitions, the Company has contingent consideration obligations that are to be paid based on the achievement of certain testing volume or revenue benchmarks. These contingent consideration liabilities are measured at fair value using an option-pricing method and are classified within Level 3 of the fair value hierarchy as the fair value is determined based on significant inputs that are not observable. Significant inputs include management’s estimate of volume or revenue and other market inputs including comparable company revenue volatility and a discount rate. A summary of the significant inputs is as follows:
Business Acquisition |  | Fair Value of Contingent Consideration |  | Benchmark |  | Comparable Company Revenue Volatility |  | Discount rate |  | Maximum Contingent Consideration Payment
Certain assets of the clinical and anatomic pathology laboratory business of Shiel Holdings, LLC ("Shiel") in December 2017 |  | $ | 7 |  |  | Volume |  | 6.9 | % |  | 4.5 | % |  | $ | 15 |
Certain assets of the clinical laboratory services business of Boyce & Bynum in February 2019 |  | $ | 6 |  |  | Volume |  | 8.0 | % |  | 7.2 | % |  | $ | 25 |
ReproSource, Inc. in September 2018 |  | $ | — |  |  | Revenue |  | 8.5 | % |  | 6.5 | % |  | $ | 10 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of the beginning and ending balances of liabilities using significant unobservable inputs (Level 3):
| Contingent Consideration
Balance, December 31, 2018 | $ | 14 |
Purchases, additions and issuances | 6 |
Settlements | (1 | )
Total gains/losses included in earnings - realized/unrealized | (6 | )
Balance, June 30, 2019 | $ | 13 |

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueMeasurementInputsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration