Document and Entity Information
Document and Entity Information | 3 Months Ended |
Mar. 31, 2016USD ($)shares | |
Document and Entity Information [Abstract] | |
Document period end date | Mar. 31, 2016 |
Amendment flag | false |
Entity registrant name | FRESENIUS MEDICAL CARE AG & Co. KGaA |
Entity current reporting status | Yes |
Entity voluntary filers | Yes |
Entity central index key | 1,333,141 |
Document type | 6-K |
Current fiscal year end date | --12-31 |
Entity filer category | Large Accelerated Filer |
Entity well known seasoned issuer | Yes |
Entity common stock shares outstanding | shares | 305,366,918 |
Entity public float | $ | $ 14,580,690,137.3558 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q1 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net revenue: | ||
Dialysis Care Revenue | $ 3,524,864,000 | $ 3,289,011,000 |
Less: Patient service bad debt provision | 110,524,000 | 106,607,000 |
Net Dialysis Care | 3,414,340,000 | 3,182,404,000 |
Dialysis Products Revenue | 790,988,000 | 777,523,000 |
Net revenue | 4,205,328,000 | 3,959,927,000 |
Costs of revenue: | ||
Dialysis Care Cost of Revenue | 2,544,260,000 | 2,415,729,000 |
Dialysis Products Cost of Revenue | 343,419,000 | 360,148,000 |
Cost of revenues | 2,887,679,000 | 2,775,877,000 |
Gross profit | 1,317,649,000 | 1,184,050,000 |
Operating expenses: | ||
Selling, general and administrative | 758,455,000 | 654,916,000 |
Research and development | 37,474,000 | 30,938,000 |
Income from at equity method investees | 18,571,000 | 6,204,000 |
Operating income | 540,291,000 | 504,400,000 |
Other (income) expense: | ||
Interest income | 11,081,000 | 59,940,000 |
Interest expense | 116,370,000 | 162,048,000 |
Income before income taxes | 435,002,000 | 402,292,000 |
Income tax expense | 138,305,000 | 137,861,000 |
Net Income | 296,697,000 | 264,431,000 |
Less: Net income attributable to noncontrolling interests | 68,681,000 | 54,883,000 |
Net Income attributable to the Company | $ 228,016,000 | $ 209,548,000 |
Basic income per Ordinary share | $ 0.75 | $ 0.69 |
Fully diluted income per Ordinary share | $ 0.75 | $ 0.69 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Consolidated Statements of Comprehensive Income | ||
Net Income | $ 296,697,000 | $ 264,431,000 |
Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent | 4,567,000 | 6,952,000 |
Actuarial gains (losses) on defined benefit pension plans | (7,877,000) | (9,229,000) |
(Loss) gain related to foreign currency translation | 105,099,000 | (127,433,000) |
Income tax (expense) benefit related to components of other comprehensive income | (4,365,000) | (5,924,000) |
Other comprehensive income (loss), net of tax | 113,178,000 | (117,176,000) |
Total comprehensive income | 409,875,000 | 147,255,000 |
Comprehensive income attributable to noncontrolling interests | (71,801,000) | (50,930,000) |
Comprehensive income attributable to the Company | $ 338,074,000 | $ 96,325,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 517,770,000 | $ 549,500,000 |
Trade accounts receivable less allowance for doubtful accounts of $508,676 in 2016 and $465,790 in 2015 | 3,600,093,000 | 3,285,196,000 |
Accounts receivable from related parties | 238,276,000 | 218,285,000 |
Inventories | 1,385,051,000 | 1,340,751,000 |
Prepaid expenses and other current assets | 1,405,899,000 | 1,374,715,000 |
Total current assets | 7,147,089,000 | 6,768,447,000 |
Property, plant and equipment, net | 3,578,144,000 | 3,425,574,000 |
Intangible assets | 831,037,000 | 830,489,000 |
Goodwill | 13,152,594,000 | 13,032,750,000 |
Deferred tax asset, non-current | 176,483,000 | 188,833,000 |
Equity Method Investments | 689,394,000 | 644,709,000 |
Other assets | 492,092,000 | 474,452,000 |
Total assets | 26,066,833,000 | 25,365,254,000 |
Current liabilities: | ||
Accounts payable | 554,754,000 | 627,828,000 |
Accounts payable to related parties | 236,532,000 | 153,023,000 |
Accrued expenses and other current liabilities | 2,459,395,000 | 2,503,137,000 |
Short-term debt and other financial liabilities | 348,863,000 | 109,252,000 |
Short-term debt from related parties | 63,984,000 | 19,052,000 |
Current portion of long-term debt and capital lease obligations | 678,475,000 | 664,335,000 |
Income tax payable, current | 105,790,000 | 72,819,000 |
Total current liabilities | 4,447,793,000 | 4,149,446,000 |
Long-term debt and capital lease obligations less current maturities | 7,847,286,000 | 7,853,487,000 |
Other liabilities | 490,077,000 | 465,625,000 |
Pension liabilities | 612,378,000 | 585,328,000 |
Income tax payable, non-current | 173,663,000 | 162,500,000 |
Deferred tax liability, non-current | 599,243,000 | 624,500,000 |
Total liabilities | 14,170,440,000 | 13,840,886,000 |
Noncontrolling interests subject to put provisions | 1,088,272,000 | 1,028,368,000 |
Company shareholders' equity: | ||
Common stock, no par value, 1.00 Euro nominal value, 392,462,972 shares authorized, 306,366,869 issued and 305,366918 outstanding | 380,003,000 | 387,162,000 |
Treasury stock, at cost | (136,976,000) | (505,014,000) |
Additional paid-in capital | 3,073,946,000 | 3,470,308,000 |
Retained earnings | 8,098,997,000 | 7,870,981,000 |
Accumulated other comprehensive (loss) | (1,226,237,000) | (1,336,295,000) |
Total Company shareholders' equity | 10,189,733,000 | 9,887,142,000 |
Noncontrolling interests not subject to put provisions | 618,388,000 | 608,858,000 |
Total equity | 10,808,121,000 | 10,496,000,000 |
Total liabilities and equity | $ 26,066,833,000 | $ 25,365,254,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) | Mar. 31, 2016USD ($)shares | Mar. 31, 2016€ / shares | Dec. 31, 2015USD ($) |
Consolidated Balance Sheets | |||
Trade accounts receivable allowance for doubtful accounts | $ | $ 508,676,000 | $ 465,790,000 | |
Preferred stock no par value (in Euros) | € / shares | € 1 | ||
Common stock no par value (in Euros) | € / shares | € 1 | ||
Common stock authorized | 392,462,972 | ||
Common stock issued | 306,366,869 | ||
Common stock outstanding | 305,366,918 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating Activities: | ||
Net Income | $ 296,697,000 | $ 264,431,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 181,783,000 | 175,854,000 |
Change in deferred taxes, net | (12,723,000) | (52,797,000) |
(Gain) loss on sale of investments | (890,000) | (1,043,000) |
Stock Option Compensation Expense | 7,424,000 | 4,478,000 |
Investment in equity method investees, net | (16,349,000) | (3,797,000) |
Changes in assets and liabilities, net of amounts from businesses acquired: | ||
Trade accounts receivable, net | 265,655,000 | 109,125,000 |
Inventories, net | 19,242,000 | 93,321,000 |
Prepaid expenses, other current and non-current assets | (46,536,000) | (119,698,000) |
Accounts receivable, related parties | (647,000) | (15,618,000) |
Accounts payable, related parties | 76,990,000 | 12,411,000 |
Accounts payable, accrued expenses and other current and non-current liabilities | (151,537,000) | 129,948,000 |
Income tax payable | 34,340,000 | (17,171,000) |
Net cash provided by (used in) operating activities | 179,801,000 | 447,270,000 |
Investing Activities: | ||
Purchases of property, plant and equipment | 250,178,000 | 201,196,000 |
Proceeds from sale of property, plant and equipment | 3,920,000 | 3,579,000 |
Acquisitions and investments, net of cash acquired, and net purchases of intangible assets | 91,058,000 | 21,896,000 |
Proceeds from divestitures | 216,000 | 10,678,000 |
Net cash (used in) provided by investing activities | (337,100,000) | (208,835,000) |
Financing Activities: | ||
Proceeds from short-term debt and other financial liabilities | 285,509,000 | 53,153,000 |
Repayments of short-term debt and other financial liabilities | 58,041,000 | 61,417,000 |
Proceeds from short-term debtfrom related parties | 42,647,000 | 20,608,000 |
Repayments of short-term debt from related parties | 0 | |
Proceeds from long-term debt and capital lease obligations (net of debt issuance costs of $178,593 in 2012 and $127,854 in 2011) | 60,000 | 1,860,000 |
Repayments of long-term debt and capital lease obligations | 53,495,000 | 60,850,000 |
Increase (decrease) of accounts receivable securitization program | 51,000,000 | 156,250,000 |
Proceeds from exercise of stock options | 2,544,000 | 16,451,000 |
Distributions to Noncontrolling interests | (66,576,000) | (62,015,000) |
Contributions from noncontrolling interests | 13,299,000 | 11,171,000 |
Payment of dividends [N] | 0 | 0 |
Net cash (used in) provided by financing activities | 114,947,000 | (237,289,000) |
Effect of exchange rate changes on cash and cash equivalents | 10,622,000 | (12,079,000) |
Cash and Cash Equivalents: | ||
Net (decrease) in cash and cash equivalents | (31,730,000) | (10,933,000) |
Cash and cash equivalents at beginning of period | 549,500,000 | 549,500,000 |
Cash and cash equivalents at end of period | $ 517,770,000 | $ 622,922,000 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' Equity - USD ($) | Total | Common Stock, No par value [Member] | Treasury Stock | Additional paid in capital [Member] | Retained earnings [Member] | Accumulated other comprehensive income (loss) [Member] | Total FMC-AG and Co. KGaA [Member] | Noncontrolling interests not subject to put provisions [Member] | Total Equity Domain [Member] |
Total equity | $ 10,028,371,000 | $ 385,215,000 | $ (505,014,000) | $ 3,546,075,000 | $ 7,104,780,000 | $ (1,087,743,000) | $ 9,443,313,000 | $ 585,058,000 | $ 10,028,371,000 |
Shares issued | 311,104,251 | (7,548,951) | |||||||
Proceeds from exercise of options and related tax effects | $ 1,947,000 | 87,065,000 | 89,012,000 | 89,012,000 | |||||
Shares from exercise of options and related tax effects | 1,758,820 | ||||||||
Compensation expense related to stock options | 12,323,000 | 12,323,000 | 12,323,000 | ||||||
Vested Subsidiary Stock Option Plans | (4,613,000) | (4,613,000) | (4,613,000) | ||||||
Dividends paid | (263,244,000) | (263,244,000) | (263,244,000) | ||||||
Purchase (sale) of noncontrolling interests | 7,461,000 | 7,461,000 | 7,169,000 | 14,630,000 | |||||
Cash contributions from noncontrolling interests | (100,852,000) | (100,852,000) | |||||||
Expiration Of Put Provisions | (5,206,000) | (5,206,000) | |||||||
Changes in fair value of noncontrolling interests | (178,003,000) | (178,003,000) | (178,003,000) | ||||||
Comprehensive income (loss) | |||||||||
Net Income | 1,029,445,000 | 1,029,445,000 | 124,577,000 | 1,154,022,000 | |||||
Other comprehensive income (loss) - net | (248,552,000) | (248,552,000) | (1,888,000) | (250,440,000) | |||||
Total comprehensive income | 780,893,000 | 122,689,000 | 903,582,000 | ||||||
Total equity | $ 10,496,000,000 | $ 387,162,000 | $ (505,014,000) | 3,470,308,000 | 7,870,981,000 | (1,336,295,000) | 9,887,142,000 | 608,858,000 | 10,496,000,000 |
Shares issued | 312,863,071 | (7,548,951) | |||||||
Proceeds from exercise of options and related tax effects | $ 58,000 | 2,651,000 | 2,709,000 | 2,709,000 | |||||
Shares from exercise of options and related tax effects | 52,798 | ||||||||
Compensation expense related to stock options | 7,424,000 | 7,424,000 | 7,424,000 | ||||||
Vested Subsidiary Stock Option Plans | (1,092,000) | (1,092,000) | (1,092,000) | ||||||
Treasury stock shares retired | 6,549,000 | (6,549,000) | 6,549,000 | ||||||
Treasury Shares Withdrawn Value | $ (7,217,000) | $ 368,038,000 | (360,821,000) | ||||||
Dividends paid | $ (39,144,000) | 0 | |||||||
Purchase (sale) of noncontrolling interests | 2,579,000 | 1,297,000 | 1,297,000 | 6,695,000 | 7,992,000 | ||||
Cash contributions from noncontrolling interests | 5,129,000 | (24,539,000) | (24,539,000) | ||||||
Changes in fair value of noncontrolling interests | 0 | (45,821,000) | (45,821,000) | (45,821,000) | |||||
Net Income | 228,016,000 | 228,016,000 | 25,846,000 | 253,862,000 | |||||
Other comprehensive income (loss) - net | 110,058,000 | 110,058,000 | 1,528,000 | 111,586,000 | |||||
Total comprehensive income | 338,074,000 | 27,374,000 | 365,448,000 | ||||||
Total equity | $ 10,808,121,000 | $ 380,003,000 | $ (136,976,000) | 3,073,946,000 | 8,098,997,000 | (1,226,237,000) | 10,189,733,000 | 618,388,000 | 10,808,121,000 |
Shares issued | 306,366,869 | (999,951) | |||||||
Shareholders equity ending balance | $ 380,003,000 | $ (136,976,000) | $ 3,073,946,000 | $ 8,098,997,000 | $ (1,226,237,000) | $ 10,189,733,000 | $ 618,388,000 | $ 10,808,121,000 |
Company and Basis of Presentati
Company and Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Basis of Presentation [Text Block] | 1 . The Company and Basis of Presentation The Company Fresenius Medical Care AG & Co. KGaA (“FMC-AG & Co. KGaA ” or the “Company”), a German partnership limited by shares ( Kommanditgesellschaft auf Aktien ), is the world’s largest kidney dialysis company. The Company provides dialysis treatment and related dialysis care services to persons who suffer from end-stage renal disease (“ESRD”), as well as other health care services. The Company provides dialysis products for the treatment of ESR D, including products manufactured and distributed by the Company such as hemodialysis machines, peritoneal cyclers, dialyzers, peritoneal solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals and systems for wat er treatment. The Company supplies dialysis clinics it owns, operates or manages with a broad range of products in addition to sales of dialysis products to other dialysis service providers. The Company describes its other health care services as “Care Coo rdination.” Care Coordination currently include s the coordinated delivery of pharmacy services, vascular, cardiovascular and endovascular specialty services, non-dialysis laboratory testing services, physician services, hospitalist and intensivist services , health plan services and urgent care services, which, together with dialysis care services represent the Company’s health care services. In these unaudited consolidated financial statements, “FMC-AG & Co. KGaA ,” or the “Company,” “we,” “us” or “our” refe rs to the Company or the Company and its subsidiaries on a consolidated basis, as the context requires. The term “North America Segment” refers to the North America operating segment; the term “EMEA Segment” refers to the Europe, Middle East and Africa ope rating segment, the term “Asia-Pacific Segment” refers to the Asia-Pacific operating segment, and the term “Latin America Segment” refers to the Latin America operating segment. For further discussion of the Company’s operating segments, see Note 13 “ Segment and Corporate Information. ” Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with the United States’ generally accepted accounting principles (“U.S. GAAP”). The consolidated financial s tatements at March 31 , 2016 and for the three months ended March 31 , 2016 and 2015 contained in this report are unaudited and should be read in conjunction with the consolidated financial statements contained in the Company's 2015 Annual Report on Form 20-F. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates . Such financial statements reflect all adjustments that, in th e opinion of management, are necessary for a fair presentation of the results of the periods presented. All such adjustments are of a normal recurring nature. The accounting policies applied in the accompanying consolidated financial statements are the sa me as those applied in the consolidated financial statements at and for the year ended December 31, 2015 , contained in the Company's 2015 Annual Report on Form 20-F. Certain items in the prior year’s comparative consolidated financial statements have been reclassified to conform to the current year’s presentation. Deferred taxes which were classified as current at December 31, 2015, are now reclassified to noncurrent in accordance with Accounting Standards Update 2015-17, Income Taxes (Topic 740) Balan ce Sheet Classification of Deferred Taxes . Deferred taxes in current assets and liabilities have been reclassified to noncurrent assets and liabilities in the amount of $216,127 and $36,399, respectively. As a result of deferred tax netting, noncurrent ass ets and liabilities have been adjusted in the amount of $168,232. The results of operations for the three months ended March 31 , 2016 are not necessarily indicative of the results of operations for the year ending December 31 , 2016 . |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Related Party Transactions | 2 . Re lated Party Transa ctions The Company’s parent, Fresenius SE & Co. KGaA (“Fresenius SE”), a German partnership limited by shares, owns 100% of the share capital of Fresenius Medical Care Management AG, the Company’s general partner (“General Partner”). Fresenius SE is also the Company’s largest shareholder and owns approximately 30,9% of the Company’s outstanding shares at March 31 , 2016 . The Company has entered into certain arrangements for services, leases and products with Fresenius SE or its subsidiaries and with certain of the Company’s equity method investees as described in item a) below. The Company’s terms related to the receivables or payables for these services, leases and products are generally consistent with the normal terms of the Company’s ordinary course of business transactions with unrelated parties. Financing arrangements as described in item b) below have agreed upon terms which are determined at the time such financing transactions occur and reflect market rates at the time of the transaction. The relationship between the Company and its key management personnel who are considered to be related parties is described in item c) below. Our related party transactions are settled through Fresenius SE’s cash mana gement system where appropriate. a) Service Agreements, Lease Agreements and Products The Company is party to service agreements with Fresenius SE and certain of its affiliates (collectively the “Fresenius SE Companies”) to receive services, including, but not limited to: administrative services, management information services, employee benefit administration, insurance, information technology services, tax services and treasury management services. The Company also provides central purchasing services to the Fresenius SE Companies. The Company provides certain administrative services to one of its equity method investees. In 2015, the Company also performed marketing and distribution services for certain of its equity method investees. These related party agreements generally have a duration of 1-5 years and are renegotiated on an as needed basis when the agreement comes due. The Company is a party to real estate operating lease agreements with the Fresenius SE Companies, which include leases for the Compan y’s corporate headquarters in Bad Homburg, Germany and production sites in Schweinfurt and St. Wendel , Germany. The majority of the leases expire in 2016 and the Company intends to extend these leases. In addition to the above mentioned service and lease a greements, the Company sold products to the Fresenius SE Companies and made purchases from the Fresenius SE Companies and equity method investees. In addition, Fresenius Medical Care Holdings, Inc. (“FMCH”) purchases heparin supplied by Fresenius Kabi USA, Inc. (“ Kabi USA”), through an independent group purchasing organization (“GPO”). Kabi USA is an indirect, wholly-owned subsidiary of Fresenius SE. The Company has no direct supply agreement with Kabi USA and does not submit purchase orders directly to Kab i USA. FMCH acquires heparin from Kabi USA, through the GPO contract, which was negotiated by the GPO at arm’s length on behalf of all members of the GPO. The Company entered into an agreement with a Fresenius SE company for the manufacturing of plasma col lection devices. The Company agreed to produce 3,500 units which can be further increased to a maximum of 4,550 units, over the length of the five year contract. On January 1, 2015, this manufacturing business was sold to Kabi USA for $9,327 for which a fa irness opinion was obtained from a reputable global accounting firm. The disposal was accounted for as a transaction between parties under common control at the carrying amounts without the generation of profits. In December 2010, the Company formed a rena l pharmaceutical company with Galenica Ltd., named Vifor Fresenius Medical Care Renal Pharma Ltd. , an equity method investee of which the Company owns 45%. Further, in 2015 the Company entered into an exclusive supply agreement to purchase Eryth ropoietin stimulating agents, “ESAs.” Below is a summary, including the Company’s receivables from and payables to the indicated parties resulting from the above described transactions with related parties. Service Agreements, Lease Agreements and Products For the three months ended March 31, 2016 For the three months ended March 31, 2015 March 31, 2016 December 31, 2015 Sales of goods and services Purchases of goods and services Sales of goods and services Purchases of goods and services Accounts Receivables Accounts Payables Accounts Receivables Accounts Payables Service Agreements Fresenius SE 48 5.275 47 6.323 107 2.461 422 3.185 Fresenius SE affiliates 831 20.410 2.034 18.204 608 4.354 2.104 4.079 Equity method investees 4.905 - 2.793 - 5.349 - 10.180 - Total $ 5.784 $ 25.685 $ 4.874 $ 24.527 $ 6.064 $ 6.815 $ 12.706 $ 7.264 Lease Agreements Fresenius SE - 2.537 - 2.393 - - - - Fresenius SE affiliates - 3.750 - 3.694 - - - - Total $ - $ 6.287 $ - $ 6.087 $ - $ - $ - $ - Products Fresenius SE 2 - 2 - - - - - Fresenius SE affiliates 6.048 10.911 6.720 9.309 7.390 2.763 8.774 3.768 Equity method investees - 110.595 - 5.822 - 84.253 - 8.253 Total $ 6.050 $ 121.506 $ 6.722 $ 15.131 $ 7.390 $ 87.016 $ 8.774 $ 12.021 b) Financing The Company receives short-term financing from and provides short-term financing to Fresenius SE. The Company also utilizes Fresenius SE’s cash management system for the settlement of certain intercompany receivables and payables with its subsidiaries and other related parties. As of March 31 , 2016 and December 31 , 2015 , the Company had accounts receivables from Fresenius SE related to short-term financing in the amount of $ 141.340 and $ 131.252 , respectively. As of March 31 , 2016 and December 31 , 2015 , the Company had accounts payables to Fresenius SE related to short-term financing in the amount of $ 123.729 and $ 115.932 , respectively. The interest rates for these cash management arrange ments are set on a daily basis and are based on the then-prevailing overnight reference rate for the respective currencies. On August 19, 2009, the Company borrowed € 1.500 ($ 1.708 at March 31 , 2016 and $ 1.633 at December 31 , 2015 ) from the General Partner on an unsecured basis at 1,335% . The loan repayment has been extended periodically and is currently due August 2 2, 2016 with an interest rate of 1,334% . On November 28, 2013, the Company borrowed an additional € 1.500 ($ 1.708 at March 31 , 2016 and $ 1.633 at December 31 , 2015 ) with an interest rate of 1,875% from the General Partner. This loan is due on November 25, 2016 with an interest rate of 1,223% . On various dates starting July 22, 2015 through January 28, 2016 , the Company provided unsecured term loans to on e of its equity method investees, of which CHF 78.416 ($ 81.673 ) were outstanding as of March 31 , 2016 at an interest rate of 1.8% . At March 31 , 2016 and December 31 , 2015 , a subsidiary of Fresenius SE held uns ecured Senior Notes issued by the Company in the amount of € 8.300 and € 8.300 ($ 9.450 at March 31 , 2016 and $ 9.036 at December 31 , 2015 ), respecti vely. The Senior Notes were issued in 2011 and 2012, mature in 2021 and 2019, respectively, and each has a coupon rate of 5.25% with interest payable semiannually. At March 31 , 2016 and December 31 , 2015 , the Company borrowed from Fresenius SE € 53.200 and € 14.500 ($ 60.568 at March 31 , 2016 and $ 15.786 at December 31 , 2015 ) on an unsecured basis at an interest rate of 0,797% and 0,970% , re spectively. For further information on this loan agreement, see Note 4 . “Short-Term Debt and Short-Term Debt from Related Parties – Short-Term Debt from Related Parties.” c) Key Management Personnel Due to the legal form of a German partnership limi ted by shares, the General Partner holds a key management position within the Company. In addition, as key management personnel, members of the Management Board and the Supervisory Board, as well as their close relatives, are considered related parties. Th e Company’s Articles of Association provide that the General Partner shall be reimbursed for any and all expenses in connection with management of the Company’s business, including remuneration of the members of the General Partner’s supervisory board and the members of the General Partner’s management board. The aggregate amount reimbursed to the General Partner was $ 6.113 and $ 4.024 , respectively, for its management services during the three months ended March 31 , 2016 and 2015 . As of March 31 , 2016 and December 31 , 2015 , the Company had accounts receivable from the General Partner in the amount of $ 1.809 and $ 486 , respectively. As of March 31 , 2016 and December 31 , 2015 , the Company had accounts payable to the General Partner in the amount of $ 18.972 and $ 17.806 , respectively . |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Inventories | 3 . Inventories At March 31 , 2016 and December 31 , 2015 , inventories consisted of the following: March 31, December 31, 2016 2015 Finished goods $ 736.159 $ 670.291 Health care supplies 362.868 395.342 Raw materials and purchased components 213.575 206.525 Work in process 72.449 68.593 Inventories $ 1.385.051 $ 1.340.751 |
Short-Term Borrowings and Other
Short-Term Borrowings and Other Financial Liabilities, and Short-Term Borrowings from Related Parties | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Short-Term Borrowings and Other Financial Liabilities, and Short-Term Borrowings from Related Parties | 4 . Short-Term Debt and Short-Term Debt from Related Parties At March 31 , 2016 and December 31 , 2015 , short-term debt and short-term debt from related parties consisted of the following: March 31, December 31, 2016 2015 Borrowings under lines of credit $ 115.499 $ 109.230 Commercial Paper Program 233.353 - Other financial liabilities 11 22 Short-term debt $ 348.863 $ 109.252 Short-term debt from related parties (see Note 2.b) 63.984 19.052 Short-term debt and short-term debt from related parties $ 412.847 $ 128.304 The Company and certain consolidated entities operate a multi-currency notional pooling cash management system. The Company met the conditions to offset balances within this cash pool for reporting purposes. At March 31 , 2016 and December 31 , 2015 , cash and borrowings under lines of credit in the amount of $ 51.702 and $ 48.277 were offset under this cash management system. Short-term Debt from related parties The Company is party to an unsecured loan agreement with Fresenius SE under which the Company or its subsidiaries may request and receive one or more short-term advances up to an aggregate amount of $400,000 until maturity on October 30, 2017. The interest on the advance(s) will be at a fluctuating rate per annum equal to LIBOR or EURIBOR as applicable plus an applicable margin. Advances can be repaid and reborrowed . At March 31 , 2016 and December 31 , 2015 , the Company borrowed from Fresenius SE € 53.200 and € 14.500 ($ 60.568 at March 31 , 2016 and $ 15.786 at December 31 , 2015 ) on an unsecured basis. For further information on short-term debt from related parties outstanding at March 31 , 2016 , see Note 2 b) . |
Long-term Debt and Capital Leas
Long-term Debt and Capital Lease Obligations | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Long-term Debt and Capital Lease Obligations | 5 . Long-t erm Debt and Capital Lease Obligations As of March 31 , 2016 and December 31 , 2015 , long-term debt and capital lease obligations consisted of the following: March 31, December 31, 2016 2015 Amended 2012 Credit Agreement $ 2.591.669 $ 2.611.580 Senior Notes 5.392.631 5.325.618 Equity-neutral convertible bonds 428.132 407.705 Accounts Receivable Facility - 50.185 Capital lease obligations 44.415 40.621 Other 68.914 82.113 Long-term debt and capital lease obligations $ 8.525.761 $ 8.517.822 Less current portion (678.475) (664.335) Long-term debt and capital lease obligations, less current portion $ 7.847.286 $ 7.853.487 Amended 2012 Credit Agreement The following table shows the available and outstanding amounts under the Amended 2012 Credit Agreement at March 31 , 2016 and December 31 , 2015 : Maximum Amount Available Balance Outstanding March 31, 2016 March 31, 2016 (1) Revolving Credit USD $ 1.000.000 $ 1.000.000 $ 47.476 $ 47.476 Revolving Credit EUR € 400.000 $ 455.400 € - $ - USD Term Loan $ 2.250.000 $ 2.250.000 $ 2.250.000 $ 2.250.000 EUR Term Loan € 270.000 $ 307.395 € 270.000 $ 307.395 $ 4.012.795 $ 2.604.871 Maximum Amount Available Balance Outstanding December 31, 2015 December 31, 2015 (1) Revolving Credit USD $ 1.000.000 $ 1.000.000 $ 25.110 $ 25.110 Revolving Credit EUR € 400.000 $ 435.480 € - $ - USD Term Loan $ 2.300.000 $ 2.300.000 $ 2.300.000 $ 2.300.000 EUR Term Loan € 276.000 $ 300.481 € 276.000 $ 300.481 $ 4.035.961 $ 2.625.591 (1) Amounts shown are excluding debt issuance costs. At March 31 , 2016 and December 31 , 2015 , the Company had letters of credit outstanding in the amount of $ 3.550 and $ 3.600 , respectively, under the USD revolving credit facility, which are not included above as part of the balance outstanding at those dates , but which reduce available borrowings under the applicable revolving credit facility. Accounts Receivable Facility The following table shows the available and outstanding amounts under the A ccount s R eceivable F acility at March 31 , 2016 and at December 31 , 2015 : Maximum Amount Available (1) Balance Outstanding (2) March 31, December 31, March 31, December 31, 2016 2015 2016 2015 Accounts Receivable Facility $ 800.000 $ 800.000 $ - $ 51.000 (1) Subject to availability of sufficient accounts receivable meeting funding criteria. (2) Amounts shown are excluding debt issuance costs. The Company also had letters of credit outstanding under the A ccounts R eceivable F acility in the amount of $ 13.822 and $ 16.622 a t March 31 , 2016 and December 31 , 2015 , respectively . These letters of credit are not included above as part of the balance outstanding at March 31 , 2016 and December 31 , 2015 ; however, they reduce available borrowings under the A ccounts R eceivable F acility. |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Employee Benefit Plans | 7 . Employee Benefit Plans The Company currently has two principal pension plans, one for German employees, the other covering employees in the United States , the latter of which was curtailed in 2002. Plan benefits are generally based on years of service and final salary. As there is no legal requirement in Germany to fund defined benefit plans, the Company's pension obligations in Germany are unfunded. Each year FMCH contributes to the plan covering United States employees at least the minimum required by the Employee Retirement Income Security Act of 1974, as amended. The following table provides the calculations of net periodic benefit cost for the three months ended March 31 , 2016 and 2015 , respectively. For the three months ended March 31, 2016 2015 Components of net periodic benefit cost: Service cost $ 6.825 $ 6.372 Interest cost 7.329 6.943 Expected return on plan assets (3.872) (4.098) Amortization of unrealized losses 7.907 9.229 Amortization of prior service cost (30) - Net periodic benefit costs $ 18.159 $ 18.446 |
Noncontrolling Interests Subjec
Noncontrolling Interests Subject to Put Provisions | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Noncontrolling Interests Subject to Put Provisions | 8 . Noncontrolling Interests Subject to Put Provisions and Other Temporary Equity The Company has potential obligations to purchase the noncontrolling interests held by third parties in certain of its consolidated subsidiaries. These obligations are in the form of put provisions and are exercisable at the third-party owners’ discretion within specified periods as outlined in each specific put provision. If these put provisions were exercised, the Company would be required to purchase all or part of third-party owners’ noncontrolling interests at the appraised fair value at the time of exercise. The methodology the Company uses to estimate the fair values of the noncontrolling interest subject to p ut provisions assumes the greater of net book value or a multiple of earnings, based on historical earnings, development stage of the underlying business and other factors. Additionally, there are put provisions that are valued by an external valuation fir m. The external valuation estimates the fair values using a combination of discounted cash flows and a multiple of earnings and/or revenue. The estimated fair values of the noncontrolling interests subject to these put provisions can also fluctuate, the di s counted cash flows and the implicit multiple of earnings and/or revenue at which these noncontrolling interest obligations may ultimately be settled could vary significantly from our current estimates depending upon market conditions. At March 31 , 2016 and December 31 , 2015 , the Company’s potential obligations under these put options were $ 1.082.567 and $ 1.023.755 . At March 31 , 2016 and December 31 , 2015 , put options with an aggregate purchase obligation of $ 240.424 and $ 258.552 , respectively, were exercisable. No put options were exercised during the first three months of 2016 . The following is a roll forward of noncontrolling interests subject to put provisions for the three months ended March 31 , 2016 and the year ended December 31 , 2015 : March 31, 2016 December 31, 2015 Beginning balance as of January 1, $ 1.023.755 $ 824.658 Contributions to noncontrolling interests (39.144) (164.830) Purchase/ sale of noncontrolling interests 2.579 7.915 Contributions from noncontrolling interests 5.129 16.749 Expiration of put provisions and other reclassifications - 5.206 Changes in fair value of noncontrolling interests 45.821 178.003 Net income 42.835 159.127 Other comprehensive income (loss) 1.592 (3.073) Ending balance as of March 31, 2016 and December 31, 2015 $ 1.082.567 $ 1.023.755 |
Sources Of Revenue
Sources Of Revenue | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Sources of Revenue | 9 . Sources of Revenue Outside of the U.S., the Company does not recognize patient service revenue at the time the services are rendered without assessing the patient’s ability to pay. Accordingly, the additional disclosure requirements introduced with ASU 2011-07 apply solely to U.S. patient service revenue. Below is a table showing the sources of our U.S. patient service revenue (net of contractual allowance and discounts but before patient service bad debt provision), included in the Company’s Health Care revenue, for the three months ended March 31 , 2016 and 2015 . 2016 2015 Medicare program $ 1.294.259 $ 1.200.772 Private/alternative payors 1.267.492 1.134.161 Medicaid and other government sources 132.628 129.228 Hospitals 248.271 213.951 Total patient service revenue $ 2.942.650 $ 2.678.112 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Earnings Per Share | 6 . Earnings Per Share The following table contains reconciliations of the numerator and denominators of the basic and diluted earnings per share computati ons for the three months ended March 31 , 2016 and 2015 : For the three months ended March 31, 2016 2015 Numerator: Net income attributable to shareholders of FMC-AG & Co. KGaA $ 228.016 $ 209.548 Denominators: Weighted average number of Ordinary shares outstanding 305.325.185 303.683.075 Potentially dilutive Ordinary shares 296.326 1.015.241 Total weighted average Ordinary shares outstanding assuming dilution 305.621.511 304.698.316 Basic earnings per share $ 0,75 $ 0,69 Fully diluted earnings per share $ 0,75 $ 0,69 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Commitments and Contingencies | 10 . Commitments and Contingencies Legal and Regulatory Matters The Company is routinely involved in numerous claims, lawsuits, regulatory and tax audits, investigations and other legal matters arising, for the most part, in the ordinary course of its business of providing health care services and products. Legal matters that the Company currently deems to be material or noteworthy are described below. For the matters described below in which the Company believes a loss is both reasonably possible and estimable, an estimate of the loss or range of loss exposure is provided. For the other matters described below, the Company believes that the loss probability is remote and/or the loss or range of possible losses cannot be reasonably estimated at this time. The outcome of litigation and ot her legal matters is always difficult to predict accurately and outcomes that are not consistent with the Company’s view of the merits can occur. The Company believes that it has valid defenses to the legal matters pending against it and is defending itsel f vigorously. Nevertheless, it is possible that the resolution of one or more of the legal matters currently pending or threatened could have a material adverse effect on its business, results of operations and financial condition. Commercial Litigation On April 5, 2013, the U.S. Judicial Panel on Multidistrict Litigation ordered that the numerous lawsuits filed in various federal courts alleging wrongful death and personal injury claims against FMCH and certain of its affiliates relating to FMCH’s acid con centrate products NaturaLyte ® and GranuFlo ® be transferred and consolidated for pretrial management purposes into a consolidated multidistrict litigation in the United States District Court for the District of Massachusetts, styled In Re: Fresenius Granufl o / Naturalyte Dialysate Products Liability Litigation, Case No. 2013-md-02428. The Massachusetts state courts and the St. Louis City (Missouri) court subsequently established similar consolidated litigation for such cases filed in Massachusetts county court s and St. Louis City court. See , In Re: Consolidated Fresenius Cases, Case No. MICV 2013-03400-O (Massachusetts Superior Court, Middlesex County). These lawsuits allege generally that inadequate labeling and warnings for these products caused harm to patie nts. In addition, similar cases have been filed in other state courts. On February 17, 2016, the Company reached and reported to the courts an agreement in principle with a committee for plaintiffs in all cases. The agreement in principle calls for the Com pany to pay $250,000 into a settlement fund in August 2016 in exchange for releases of all or substantially all of the plaintiffs’ claims, subject to the Company’s right to void the settlement under certain conditions, including if more than 3% of all plai ntiffs reject the settlement by July 2016 or the distribution of rejecters meet certain criteria. The Company’s affected insurers have agreed to fund $220,000 of the settlement fund, with a reservation of rights regarding certain coverage issues between an d among the Company and its insurers. The Company has accrued a net expense of $60,000 for consummation of the settlement, including legal fees and other anticipated costs. Certain of the complaints in the litigation named combinations of FMC-AG & Co. KGaA , FMC Management AG, Fresenius SE and Fresenius Management SE as defendants, in addition to FMCH and its domestic United States affiliates. The agreement in principle provides for dismissals and releases of claims encompa ssing the European defendants. Cert ain plaintiffs including the Attorneys General of Louisiana and Mississippi have filed complaints against FMCH or its affiliates under state deceptive practices statutes resting on certain background allegations common to the GranuFlo ® / NaturaLyte ® personal injury litigation. These cases, however, implicate different legal standards, theories of liability and forms of potential recovery and, as such, are not currently subject to the agreement in principle discussed above. FMCH believes that these deceptive p ractices lawsuits are without merit and will defend them vigorously. Other Litigation and Potential Exposures On February 15, 2011, a whistleblower (relator) action under the False Claims Act against FMCH was unsealed by order of the United States District Court for the District of Massachusetts and served by the relator. The United States did not intervene initially in the case United States ex rel. Chris Drennen v. Fresenius Medical Care Holdings, Inc., 2009 Civ. 10179 (D. Mass.). The relator’s complaint, which was first filed under seal in February 2009, alleged that the Company sought and received reimbursement from government payors for serum ferritin and multiple forms of hepatitis B laboratory tests that were medically unnecessary or not properly orde red by a physician. Discovery on the relator’s complaint closed in May 2015. On October 2, 2015, the United States Attorney moved to intervene on the relator’s complaint with respect only to certain Hepatitis B surface antigen tests performed prior to 2011 , when Medicare reimbursement rules for such tests changed. FMCH believes that the allegations of the complaint are without merit and will defend the litigation vigorously. Subpoenas or search warrants were issued by federal and state law enforcement auth orities under the supervision of the United States Attorneys for the Districts of Connecticut, Southern Florida, Eastern Virginia and Rhode Island to American Access Care LLC ("AAC"), which the Company acquired in October 2011, and to the Company's subsidi ary, Fresenius Vascular Care, Inc., which now operates former AAC centers as well as its own original facilities. As of September 30, 2015, the Company had entered into settlements of allegations made by the United States Attorneys for Connecticut, Souther n Florida, and Rhode Island under which the Company paid approximately $8,000 in exchange for releases related to activities of American Access Care prior to the acquisition. Pursuant to the AAC acquisition agreement the prior owners are obligated to indem nify the Company for payments under these settlements, subject to certain limitations and deductibles. The three settlements implicate only actions and events occurring prior to the Company's acquisition of AAC. The Eastern Virginia investigation remains a ctive and outstanding. It appears to relate to issues similar to the others, but is being conducted in part as a grand jury proceeding. On October 6, 2015, the Office of Inspector General of the United States Department of Health and Human Services (“OIG”) issued a subpoena to the Company seeking information about utilization and invoicing by Fresenius Vascular Care facilities as a whole for a period beginning after the acquisition of AAC. The Company is cooperating in the government’s inquiry , which is bei ng managed by the United States Attorney for the Eastern District of New York. The Company has received communications alleging conduct in countries outside the U.S. and Germany that may violate t he U.S. Foreign Corrupt Practices Act (“FCPA”) or other anti-bribery laws. The Audit and Corporate Governance Committee of the Company's Supervisory Board is conducting investigations with the assistance of independent counsel. The Company voluntarily advi sed the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Departme nt of Justice (“DOJ”). The Company’s investigations and dialogue with the SEC and DOJ are ongoing. The Company has received a subpoena from the SEC requesting additional documents and a request from the DOJ for copies of the documents provided to the SEC. The Company is cooperating with the requests. Conduct has been identified that may result in monetary penalties or other sanctions under the FCPA or other anti-bribery laws. In addition, the Company’s ability to conduct business in certain jurisdictions could be negatively impacted. The Company has previously recorded a non-material accrual for an identified matter. Given the current status of the investigations and remediation a ctivities, the Company cannot reasonably estimate the range of possible loss that may result from identified matters or from the final outcome of the investigations or remediation activities. The Company’s independent counsel, in conjunction with the Comp any’s Compliance Department, has reviewed the Company’s anti-corruption compliance program, including internal controls related to compliance with international anti-bribery laws, and appropriate enhancements are being implemented. The Company continues to be fully committed to FCPA and other anti-bribery law compliance. In December 2012, FMCH received a subpoena from the United States Attorney for the District of Massachusetts requesting production of a broad range of documents related to two products man ufactured by FMCH: electron-beam sterilization of dialyzers and the Liberty peritoneal dialysis cycler. FMCH has cooperated fully in the government's investigation. In December 2014, FMCH was advised that the government's investigation was precipitated by a whistleblower, who first filed a complaint under seal in June 2013. In September 2014, the government declined to intervene in the whistleblower's actions. On March 31, 2015, the relator served his complaint styled Reihanifam v. Fresenius USA, Inc . , 2013 Civ. 11486 (D. Mass.). On May 14, 2015, the Court dismissed without prejudice the relator’s False Claims Act allegations after receiving the United States’ confirmation that it would not intervene as to those allegations. On March 29, 2016, the Court dism issed the relator’s companion claims for retaliatory termination of employment, finding that the retaliation claims were barred under principles of res judicata by a January 2015 jury verdict in the United States District Court for the Central District of California. The California verdict remains on appeal in the Ninth Circuit Court of Appeals. In August 2014, FMCH received a subpoena from the United States Attorney for the District of Maryland inquiring into FMCH's contractual arrangements with hospitals and physicians, including contracts relating to the management of in-patient acute dialysis services. FMCH is cooperating in the investigation. In July 2015, the Attorney General for Hawaii issued a civil complaint under the Hawaii False Claims Act styled Hawaii v. Liberty Dialysis – Hawaii, LLC et al., Case No. 15-1-1357-07 (Hawaii 1st Circuit) alleging that Xerox State Healthcare, LLC, M Group Consulting LLC and certain Liberty subsidiaries of FMCH conspired to overbill Hawaii Medicaid for Liberty's Epog en administrations to Hawaii Medicaid patients during the period from 2006 through 2010, prior to the time of FMCH's acquisition of Liberty. The complaint alleges that Xerox State Healthcare LLC which acted as Hawaii's contracted administrator for its Medi caid program reimbursement operations during 2006-2010, provided incorrect and unauthorized billing guidance to Liberty and its consultant, M4 Consultants, Inc. (a subsidiary of M Group Consulting LLC until 2008, and now a subsidiary of Liberty), which Lib erty relied on for purposes of its Epogen billing to the Hawaii Medicaid program. The complaint seeks civil damages authorized under the Hawaii False Claims Act. FMCH will vigorously contest the complaint. On August 31 and November 25, 2015, respectively, FMCH received subpoenas from the United States Attorneys for the District of Colorado and the Eastern District of New York inquiring into FMCH’s participation in and management of dialysis facility joint ventures in which physicians are partners. FMCH is c ooperating in the investigations. From time to time, the Company is a party to or may be threatened with other litigation or arbitration, claims or assessments arising in the ordinary course of its business. Management regularly analyzes current information including, as applicable, the Company’s defenses and insurance coverage and, as necessary, provides accruals for probable liabilities for the eventual disposition of these matters. The Company, like other healthcare providers, conducts its ope rations under intense government regulation and scrutiny. It must comply with regulations which relate to or govern the safety and efficacy of medical products and supplies, the marketing and distribution of such products, the operation of manufacturing fa cilities, laboratories and dialysis clinics, and environmental and occupational health and safety. With respect to its development, manufacture, marketing and distribution of medical products, if such compliance is not maintained, the Company could be subj ect to significant adverse regulatory actions by the FDA and comparable regulatory authorities outside the U.S. These regulatory actions could include warning letters or other enforcement notices from the FDA, and/or comparable foreign regulatory authority which may require the Company to expend significant time and resources in order to implement appropriate corrective actions. If the Company does not address matters raised in warning letters or other enforcement notices to the satisfaction of the FDA and/ or comparable regulatory authorities outside the U.S., these regulatory authorities could take additional actions, including product recalls, injunctions against the distribution of products or operation of manufacturing plants, civil penalties, seizures o f the Company's products and/or criminal prosecution. FMCH is currently engaged in remediation efforts with respect to three pending FDA warning letters. The Company must also comply with the laws of the United States, including the federal Anti-Kickback S tatute, the federal False Claims Act, the federal Stark Law and the federal Foreign Corrupt Practices Act as well as other federal and state fraud and abuse laws. Applicable laws or regulations may be amended, or enforcement agencies or courts may make int erpretations that differ from the Company’s interpretations or the manner in which it conducts its business. Enforcement has become a high priority for the federal government and some states. In addition, the provisions of the False Claims Act authorizing payment of a portion of any recovery to the party bringing the suit encourage private plaintiffs to commence whistleblower actions. By virtue of this regulatory environment, the Company’s business activities and practices are subject to extensive review by regulatory authorities and private parties, and continuing audits, subpoenas, other inquiries, claims and litigation relating to the Company’s compliance with applicable laws and regulations. The Company may not always be aware that an inquiry or action h as begun, particularly in the case of whistleblower actions, which are initially filed under court seal. The Company operates many facilities throughout the United States and other parts of the world. In such a decentralized system, it is often difficult t o maintain the desired level of oversight and control over the thousands of individuals employed by many affiliated companies. The Company relies upon its management structure, regulatory and legal resources, and the effective operation of its compliance p rogram to direct, manage and monitor the activities of these employees. On occasion, the Company may identify instances where employees or other agents deliberately, recklessly or inadvertently contravene the Company’s policies or violate applicable law. T he actions of such persons may subject the Company and its subsidiaries to liability under the Anti-Kickback Statute, the Stark Law, the False Claims Act and the Foreign Corrupt Practices Act, among other laws and comparable laws of other countries. Physic ians, hospitals and other participants in the healthcare industry are also subject to a large number of lawsuits alleging professional negligence, malpractice, product liability, worker’s compensation or related claims, many of which involve large claims a nd significant defense costs. The Company has been and is currently subject to these suits due to the nature of its business and expects that those types of lawsuits may continue. Although the Company maintains insurance at a level which it believes to be prudent, it cannot assure that the coverage limits will be adequate or that insurance will cover all asserted claims. A successful claim against the Company or any of its subsidiaries in excess of insurance coverage could have a material adverse effect upo n it and the results of its operations. Any claims, regardless of their merit or eventual outcome, could have a material adverse effect on the Company’s reputation and business. The Company has also had claims asserted against it and has had lawsuits filed against it relating to alleged patent infringements or businesses that it has acquired or divested. These claims and suits relate both to operation of the businesses and to the acquisition and divestiture transactions. The Company has, when appropriate, a sserted its own claims, and claims for indemnification. A successful claim against the Company or any of its subsidiaries could have a material adverse effect upon its business, financial condition, and the results of its operations. Any claims, regardless of their merit or eventual outcome, could have a material adverse effect on the Company’s reputation and business. The Company is also subject to ongoing and future tax audits in the U.S., Germany and other jurisdictions. With respect to other potential a djustments and disallowances of tax matters currently under review, the Company do es not anticipate that an unfavorable ruling could have a material impact on its results of operations. The Company is not currently able to determine the timing of these pot ential additional tax payments. Other than those individual contingent liabilities mentioned above, the current estimated amount of the Company’s other known individual contingent liabilities is immaterial. |
Financial Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Financial Instruments | 11 . Financial Instruments Non-derivative Financial Instruments The following table presents the carrying amounts and fair values of the Company’s non-derivative financial instruments at March 31 , 2016 , and December 31 , 2015 . March 31, December 31, 2016 2015 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Assets Cash and cash equivalents 1 $ 517.770 517.770 $ 549.500 549.500 Accounts receivable (1)(2) 2 3.853.875 3.853.875 3.521.741 3.521.741 Available for sale financial assets 1 299.612 299.612 275.770 275.770 Liabilities Accounts payable (1) 2 791.286 791.286 780.851 780.851 Short-term debt (1) 2 412.847 412.887 128.304 128.304 Long-term debt, excluding Amended 2012 Credit Agreement, Senior Notes and convertible bonds 2 113.329 114.428 172.919 172.919 Amended 2012 Credit Agreement 2 2.591.669 2.604.871 2.611.580 2.625.591 Senior Notes 2 5.392.631 5.874.264 5.325.618 5.782.937 Convertible bonds 2 428.132 571.850 407.705 546.057 Noncontrolling interests subject to put provisions 3 1.088.272 1.088.272 1.028.368 1.028.368 (1) Also includes amounts from related parties. (2) Includes long-term accounts receivable, which are included in "Other assets" in the Consolidated Balance Sheets. The carrying amounts in the table are included in the Consolidated Balance Sheets under the indicated captions, or in the case of long-term debt, in the captions shown in Note 5 . The significant methods and assumptions used in estimating the fair values of non-derivative financial instruments are as follows: Cash and cash equivalents are stated at nominal value which equals the fair value. Short-term financial instruments such as accounts receivable, accounts payable and short-term debt are valued at their carrying amounts, which are reasonable estimates of the fair value due to the relatively short period to maturity of these instruments. The fair value of available for sale financial assets quoted in an active market is based on price quotations at the period-end date. The fair values of major long-term financial liabilities are calculated on the basis of market information. Instruments for which market quotes are available are measured using these quotes. The fair values of the other long-term fi nancial liabilities are calculated at the present value of the respective future cash flows. To determine these present values, the prevailing interest rates and credit spreads for the Company as of the balance sheet date are used. The valuation of noncon trolling interests subject to put provisions is determined using significant unobservable inputs. See Note 8 for a discussion of the Company’s methodology for estimating the fair value of these noncontrolling interests subject to put obligations. Currently, there is no indication that a decrease in the value of the Company’s financing receivables is probable. Therefore, the allowances on credit losses of financing receivables are immaterial. Derivative Financial Instruments The Company is exposed to market risk from changes in foreign exchange rates and interest rates. In order to manage the risk of currency exchange rate and interest rate fluctuations, the Company enters into various hedging transactions by means of derivative instruments with highly rated financial institutions as authorized by the Company’s General Partner. On a quarterly basis, the Company performs an assessment of its counterparty credit risk. The Company currently conside rs this risk to be low. The Company’s policy, which has been consistently followed, is that financial derivatives be used only for the purpose of hedging foreign currency and interest rate exposure. In certain instances, the Company enters into derivative contracts that do not qualify for hedge accounting but are utilized for economic purposes (“economic hedges”). The Company does not use financial instruments for trading purposes. The Company established guidelines for risk assessment procedures and contro ls for the use of financial instruments. They include a clear segregation of duties with regard to execution on one side and administration, accounting and controlling on the other. To reduce the credit risk arising from derivatives the Company concluded Master Netting Agreements with banks. Through such agreements, positive and negative fair values of the derivative contracts could be offset against one another if a partner becomes insolvent. This offsetting is valid for transactions where the aggregate a mount of obligations owed to and receivable from are not equal. If insolvency occurs, the party which owes the larger amount is obliged to pay the other party the difference between the amounts owed in the form of one net payment. The Company elects not to offset the fair values of derivative financial instruments subject to master netting agreements in its Consolidated Balance Sheets. At March 31 , 2016 and December 31 , 2015 , the Company had $ 16.902 and $ 24.366 , respectivel y, of derivative financial assets subject to netting arrangements and $ 25.693 and $ 12.765 , respectively, of derivative financial liabilities subject to netting arrangements. Offsetting these derivative financial instruments would have resulted in net assets of $ 8.770 and $ 16.273 as well as net liabilities of $ 17.561 and $ 4.672 at March 31 , 2016 and December 31 , 2015 , respectively. In connectio n with the issuance of the equity-neutral convertible bonds in September 2014, the Company purchased share options. Any change in the Company’s share price above the conversion price would be offset by a corresponding value change in the share options. Fo reign Exchange Risk Management The Company conducts business on a global basis in various currencies, though a majority of its operations are in Germany and the United States. For financial reporting purposes, the Company has chosen the U.S. dollar as its reporting currency. Therefore, changes in the rate of exchange between the U.S. dollar and the local currencies in which the financial statements of the Company’s international operations are maintained affect its results of operations and financial positi on as reported in its consolidated financial statements. Additionally, individual subsidiaries are exposed to transactional risks mainly resulting from intercompany purchases between production sites and other subsidiaries with different functional curren cies. This exposes the subsidiaries to fluctuations in the rate of exchange between the invoicing currencies and the currency in which their local operations are conducted. For the purpose of hedging existing and foreseeable foreign exchange transaction ex posures the Company enters into foreign exchange forward contracts and, on a small scale, foreign exchange options. At March 31 , 2016 and December 31 , 2015 , the Company had no foreign exchange options. Changes in the fair value of the effective portio n of foreign exchange forward contracts designated and qualifying as cash flow hedges of forecasted product purchases and sales are reported in Accumulated Other Comprehensive Income (“AOCI”). Additionally, in connection with intercompany loans in foreign currency, the Company uses foreign exchange swaps thus assuring that no foreign exchange risks arise from those loans, which, if they qualify for cash flow hedge accounting, are also reported in AOCI. These amounts recorded in AOCI are subsequently reclass ified into earnings as a component of cost of revenues for those contracts that hedge product purchases or as an adjustment of interest income/expense for those contracts that hedge loans, in the same period in which the hedged transaction affects earnings . The notional amounts of foreign exchange contracts in place that are designated and qualify as cash flow hedges totaled $ 131.399 and $ 193.880 at March 31 , 2016 and December 31 , 2015 , respectively. The Company also enters into derivative contracts for forecasted product purchases and sales and for intercompany loans in foreign currencies which do not qualify for hedge accounting but are utilized for economic hedges as defined above. In these two case s, the change in value of the economic hedge is recorded in the income statement and usually offsets the change in value recorded in the income statement for the underlying asset or liability. The notional amounts of economic hedges that do not qualify for hedge accounting totaled $ 2.480.202 and $ 1.637.129 at March 31 , 2016 and December 31 , 2015 , respectively. Interest Rate Risk Management The Company enters into derivatives, particularly interest rate swaps and to a certain extent, interest rat e options, to protect against the risk of rising interest rates. These interest rate derivatives are designated as cash flow hedges and have been entered into in order to effectively convert payments based on variable interest rates into payments at a fixe d interest rate. The euro-denominated interest rate swaps expire between 2016 and 2019 and have a weighted average interest rate of 0,70% . Interest payable and receivable under the swap agreements is accrued and recorded as an adjustment t o interest expense. At March 31 , 2016 and December 31 , 2015 , the notional amount of the euro-denominated interest rate swaps in place was € 370.000 and € 376.000 ( $ 421.245 and $ 409.351 at March 31 , 2016 and December 31 , 2015 , respectively). In addition, the Company also enters into interest rate hedges (“pre-hedges”) in anticipation of future long-term debt issuance, from time to time. These pre-hedges are used to hedge interest rate exposures with regard to interest rates which are relevant for the future long-term debt issuance and which could rise until the respective debt is actually issued. These pre-hedges were settled at the issuance date of the corresponding long-term debt with the settl ement amount recorded in AOCI amortized to interest expense over the life of the debt. At March 31 , 2016 and December 31 , 2015 , the Company had $ 56.265 and $ 58.581 , respectively, related to such settlements of pre-he dges deferred in AOCI, net of tax. Derivative Financial Instruments Valuation The following table shows the carrying amounts of the Company’s d erivatives at March 31 , 2016 and December 31 , 2015 . March 31, 2016 December 31, 2015 Assets (2) Liabilities (2) Assets (2) Liabilities (2) Derivatives in cash flow hedging relationships (1) Current Foreign exchange contracts 3.807 (1.726) 3.114 (2.921) Interest rate contracts - (1.225) - (1.637) Non-current Foreign exchange contracts - - 171 (127) Interest rate contracts - (1.880) - (961) Total $ 3.807 $ (4.831) $ 3.285 $ (5.646) Derivatives not designated as hedging instruments (1) Current Foreign exchange contracts 15.255 (32.992) 23.908 (7.056) Non-current Foreign exchange contracts 2.963 (3) 1.062 (65) Derivatives embedded in the convertible bonds - (117.469) - (115.990) Share options to secure the convertible bonds 117.469 - 115.990 - Total $ 135.687 $ (150.464) $ 140.960 $ (123.111) (1) At March 31, 2016 and December 31, 2015, the valuation of the Company's derivatives was determined using Significant Other Observable Inputs (Level 2) in accordance with the fair value hierarchy levels established in U.S. GAAP. (2) Derivative instruments are marked to market each reporting period resulting in carrying amounts being equal to fair values at the reporting date. Amount of Gain or (Loss) Recognized in AOCI on Derivatives Location of (Gain) or Loss Reclassified from AOCI in Income Amount of (Gain) or Loss Reclassified from AOCI in Income Derivatives in Cash Flow Hedging Relationships (Effective Portion) (Effective Portion) for the three months ended March 31, for the three months ended March 31, 2016 2015 (Effective Portion) 2016 2015 Interest rate contracts $ (3.495) $ 13.509 Interest income/expense $ 6.234 $ 6.165 Foreign exchange contracts 2.309 (19.928) Costs of Revenue (481) 7.206 $ (1.186) $ (6.419) $ 5.753 $ 13.371 Derivatives not Designated as Hedging Instruments Amount of (Gain) or Loss Recognized in Income on Derivatives Location of (Gain) or Loss Recognized in Income on Derivatives for the three months ended March 31, 2016 2015 Foreign exchange contracts Selling, general and administrative expense $ 26.700 $ (29.247) Foreign exchange contracts Interest income/expense 707 2.433 Derivatives embedded in the convertible bonds Interest income/expense (3.703) 47.338 Share options to secure the convertible bonds Interest income/expense 3.703 (47.338) $ 27.407 $ (26.814) Amount of Gain or (Loss) Recognized in AOCI on Derivatives Location of (Gain) or Loss Reclassified from AOCI in Income Amount of (Gain) or Loss Reclassified from AOCI in Income Derivatives in Cash Flow Hedging Relationships (Effective Portion) (Effective Portion) for the three months ended March 31, for the three months ended March 31, 2016 2015 (Effective Portion) 2016 2015 Interest rate contracts $ (3.495) $ 13.509 Interest income/expense $ 6.234 $ 6.165 Foreign exchange contracts 2.309 (19.928) Costs of Revenue (481) 7.206 $ (1.186) $ (6.419) $ 5.753 $ 13.371 Derivatives not Designated as Hedging Instruments Amount of (Gain) or Loss Recognized in Income on Derivatives Location of (Gain) or Loss Recognized in Income on Derivatives for the three months ended March 31, 2016 2015 Foreign exchange contracts Selling, general and administrative expense $ 26.700 $ (29.247) Foreign exchange contracts Interest income/expense 707 2.433 Derivatives embedded in the convertible bonds Interest income/expense (3.703) 47.338 Share options to secure the convertible bonds Interest income/expense 3.703 (47.338) $ 27.407 $ (26.814) For foreign exchange derivatives at March 31 , 2016 , the Company expects to recognize $ 471 of losses deferred in AOCI in earnings during the next twelve months. The Company expects to incur additional interest expense of $ 22.389 over the next twelve months which is currently deferred in AOCI. This amount reflects the projected amortization of the settlement amount of the terminated swaps and the current fair value of the additional interest payments resulting from the interest ra te swaps maturing between 2016 and 2019 at March 31 , 2016 . At March 31 , 2016 , the Company had foreign exchange derivatives with maturities of up to 15 months and interest rate swaps with maturities of up to 43 months. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Other Comprehensive Income (Loss) | 15 . Other Comprehensive Income (Loss) The c hanges in the components of other comprehensive income (loss) for the three months ended March 31 , 2016 and 2015 are as follows: Gain (Loss) related to cash flow hedges Actuarial gain (loss) on defined benefit pension plans Gain (Loss) related to foreign-currency translation Total, before non-controlling interests Non-controlling interests Total Balance at December 31, 2014 $ (103.277) $ (282.019) $ (702.447) $ (1.087.743) $ (5.261) $ (1.093.004) Other comprehensive income (loss) before reclassifications (5.485) - (123.480) (128.965) (3.953) (132.918) Amounts reclassified from AOCI 9.955 5.787 - 15.742 - 15.742 Other comprehensive income (loss) after reclassifications 4.470 5.787 (123.480) (113.223) (3.953) (117.176) Balance at March 31, 2015 $ (98.807) $ (276.232) $ (825.927) $ (1.200.966) $ (9.214) $ (1.210.180) Balance at December 31, 2015 $ (60.214) $ (225.091) $ (1.050.990) $ (1.336.295) $ (10.222) $ (1.346.517) Other comprehensive income (loss) before reclassifications (953) - 101.979 101.026 3.120 104.146 Amounts reclassified from AOCI 4.079 4.953 - 9.032 - 9.032 Other comprehensive income (loss) after reclassifications 3.126 4.953 101.979 110.058 3.120 113.178 Balance at March 31, 2016 $ (57.088) $ (220.138) $ (949.011) $ (1.226.237) $ (7.102) $ (1.233.339) Reclassifications out of AOCI for the three months ended March 31 , 2016 and 2015 are as follows: Details about AOCI Components Amount of (Gain) Loss reclassified from AOCI in Income Location of (Gain) Loss reclassified from AOCI in Income 2016 2015 (Gain) Loss related to cash flow hedges Interest rate contracts $ 6.234 $ 6.165 Interest income/expense Foreign exchange contracts (481) 7.206 Costs of Revenue 5.753 13.371 Total before tax (1.674) (3.416) Tax expense or benefit $ 4.079 $ 9.955 Net of tax Actuarial (Gain) Loss on defined benefit pension plans Amortization of unrealized (gain) loss 7.877 9.229 (1) 7.877 9.229 Total before tax (2.924) (3.442) Tax expense or benefit $ 4.953 $ 5.787 Net of tax Total reclassifications for the period $ 9.032 $ 15.742 Net of tax (1) Included in the computation of net periodic pension cost (see Note 7 for additional details). |
Business Segment Information
Business Segment Information | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Business Segment Information | 13 . Segment and Corporate Information The Company’s operating segments are the North America Segment, the EMEA Segment, the Asia-Pacific Segment and the Latin America Segment. Management evaluates each segment using measures that reflect all of the segment’s controllable revenues and expenses. With respect to the performance of business operations, management believes that the most appropriate U.S. GAAP measures are revenue, operating income and operating income margin. The Company does not in clude income taxes as it believes this is outside the segments’ control. Financing is a corporate function, which the Company’s segments do not control. Therefore, the Company does not include interest expense relating to financing as a segment measurement . Similarly, the Company does not allocate certain costs, which relate primarily to certain headquarter overhead charges, including accounting and finance, because the Company believes that these costs are also not within the control of the individual segm ents. Production of products, production asset management, quality management and procurement related to production are centrally managed at Corporate. The Company’s global research and development is also centrally managed at Corporate. These Corporate ac tivities do not fulfill the definition of a segment. Products are transferred to the segments at cost; therefore no internal profit is generated. The associated internal revenues for the product transfers and their elimination are recorded as Corporate act ivities. Capital expenditures for production are based on the expected demand of the segments and consolidated profitability considerations. In addition, certain revenues, investments and intangible assets, as well as any related expenses, are not allocate d to a segment but are accounted for as Corporate. Information pertaining to the Company’s segment and Corporate activities for the three months ended March 31 , 2016 and 2015 is set forth below. North America Segment EMEA Segment Asia-Pacific Segment Latin America Segment Segment Total Corporate Total Three months ended March 31, 2016 Revenue external customers $ 3.043.788 $ 630.785 $ 374.334 $ 153.253 $ 4.202.160 $ 3.168 $ 4.205.328 Inter - segment revenue 1.020 - 6 32 1.058 (1.058) - Revenue 3.044.808 630.785 374.340 153.285 4.203.218 2.110 4.205.328 Operating income 436.447 129.844 65.079 10.881 642.251 (101.960) 540.291 Depreciation and amortization (101.326) (28.222) (11.546) (3.600) (144.694) (37.089) (181.783) Income (loss) from equity method investees 16.533 1.370 559 110 18.571 - 18.571 Total assets 17.580.902 3.472.568 1.795.393 657.751 23.506.614 2.560.219 26.066.833 thereof investments in equity method investees 315.139 232.465 114.701 27.089 689.394 - 689.394 Capital expenditures, acquisitions and investments (1) 243.470 29.043 8.571 4.791 285.875 55.361 341.236 Three months ended March 31, 2015 Revenue external customers $ 2.771.479 $ 629.006 $ 353.038 $ 197.880 $ 3.951.403 $ 8.524 $ 3.959.927 Inter - segment revenue 1.290 0 0 99 1.389 (1.389) - Revenue 2.772.769 629.006 353.038 197.979 3.952.792 7.135 3.959.927 Operating income 340.084 141.256 84.512 17.857 583.709 (79.309) 504.400 Depreciation and amortization (97.190) (28.327) (10.831) (4.812) (141.160) (34.694) (175.854) Income (loss) from equity method investees 4.506 1.063 362 273 6.204 - 6.204 Total assets (2),(3) 16.730.207 3.313.409 1.783.850 678.296 22.505.762 2.299.403 24.805.165 thereof investments in equity method investees 270.983 210.902 105.968 24.512 612.365 - 612.365 Capital expenditures, acquisitions and investments (4) 121.232 30.750 12.929 5.459 170.370 52.722 223.092 (1) North America and EMEA acquisitions exclude $8,370 and $11 respectively of non-cash acquisitions for 2016. (2) At March 31, 2015 debt issuance costs in the amount of $59,775 have been reclassified from Prepaid expenses and other current assets and Other assets to Long-term debt and capital lease obligations to conform to the current year´s presentation. (3) Deferred taxes which were classified as current at March 31, 2015 have been reclassified to noncurrent in accordance with Accounting Standards Update 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Taxes. Deferred taxes previously recorded in 2015 within current assets and liabilities have been reclassified to noncurrent assets and liabilities in the amount of $270,664 and $34,380, respectively. As a result of deferred tax netting, noncurrent assets and liabilities were then adjusted in the amount of $241,804. (4) EMEA, Asia-Pacific and Latin America acquisitions exclude $12,887, $33,960 and $309, respectively, of non-cash acquisitions for 2015. |
Supplementary Cash Flow Informa
Supplementary Cash Flow Information | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Cash Flow Supplemental Disclosures [Text Block] | 17 . Supplementary Cash Flow Information The following additional information i s provided with respect to the Consolidated Statements of Cash F lows: For the three months ended March 31, 2016 2015 Supplementary cash flow information: Cash paid for interest $ 151.683 $ 150.890 Cash paid for income taxes (1) $ 55.948 $ 65.168 Cash inflow for income taxes from stock option exercises (2) $ 640 $ 2.915 Supplemental disclosures of cash flow information: Details for acquisitions: Assets acquired $ (72.059) $ (64.453) Liabilities assumed - 5.025 Noncontrolling interest subject to put provisions 1.801 5.832 Noncontrolling interest 3.848 (8.073) Non-cash consideration 8.381 47.156 Cash paid (58.029) (14.513) Less cash acquired 2.401 473 Net cash paid for acquisitions (55.628) (14.040) Cash paid for investments (32.225) (4.541) Cash paid for intangible assets (3.205) (3.315) Total cash paid for acquisitions and investments, net of cash acquired, and purchases of intangible assets $ (91.058) $ (21.896) (1) Net of tax refund. (2) Thereof the excess tax benefit allocated to additional paid-in capital for the three months ended March 31, 2016 and 2015 was $500 and $2,206, respectively. |
Supplemental Condensed Combinin
Supplemental Condensed Combining Information | 3 Months Ended |
Mar. 31, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Supplemental Condensed Combining Information | 15 . Supplemental Condensed Combining Information FMC Finance III, a former wholly-owned subsidiary of the Company, issued 6⅞% Senior Notes due 2017 in July 2007. On June 20, 2011, Fresenius Medical Care US Finance, Inc. (“US Finance”) acquired substantially all of the assets of FMC Finance III and assumed its obligations, including the 6⅞% Senior Notes and the related indenture. The 6⅞% Senior Notes are fully and unconditionally guaranteed, jointly and severally on a senior basis, by th e Company and by FMCH and D-GmbH, together the (“Guarantor Subsidiaries”). The 6⅞% Senior Notes and related guarantees were issued in an exchange offer registered under the Securities Act of 1933. The financial statements in this report present the financi al condition of the Company, on a consolidated basis at March 31 , 2016 and December 31 , 2015 and its results of operations and cash flows for the three-months periods ended March 31 , 2016 and 2015 . The following combining financial information fo r the Company is at March 31 , 2016 and December 31 , 2015 and for the three-months periods ended March 31 , 2016 and 2015 , segregated between FMC US Finance as issuer, the Company, D-GmbH and FMCH as guarantors, and the Company’s other businesses ( the “Non-Guarantor Subsidiaries”). For purposes of the condensed combining information, the Company and the guarantors carry their investments under the equity method. Other (income) expense includes income (loss) related to investments in consolidated sub sidiaries recorded under the equity method for purposes of the condensed combining information. In addition, other (income) expense includes income and losses from profit and loss transfer agreements as well as dividends received. For the three months ended March 31, 2016 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 455.186 $ - $ 4.544.920 $ (794.778) $ 4.205.328 Cost of revenue - - 284.280 - 3.392.016 (788.617) 2.887.679 Gross profit - - 170.906 - 1.152.904 (6.161) 1.317.649 Operating expenses (income): Selling, general and administrative (1) - 58.173 50.561 (66.787) 688.580 9.357 739.884 Research and development - - 20.554 - 16.920 - 37.474 Operating (loss) income - (58.173) 99.791 66.787 447.404 (15.518) 540.291 Other (income) expense: Interest, net (1.770) 46.141 (361) 58.535 2.744 - 105.289 Other, net - (337.932) 63.358 (194.944) - 469.518 - Income (loss) before income taxes 1.770 233.618 36.794 203.196 444.660 (485.036) 435.002 Income tax expense (benefit) 642 5.602 26.230 3.255 165.584 (63.008) 138.305 Net Income (loss) 1.128 228.016 10.564 199.941 279.076 (422.028) 296.697 Net Income attributable to noncontrolling interests - - - - 68.681 - 68.681 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 1.128 $ 228.016 $ 10.564 $ 199.941 $ 210.395 $ (422.028) $ 228.016 (1) Selling, general and administrative is presented net of income from equity method investees. For the three months ended March 31, 2015 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 462.599 $ - $ 4.254.782 $ (757.454) $ 3.959.927 Cost of revenue - - 297.165 - 3.240.912 (762.200) 2.775.877 Gross profit - - 165.434 - 1.013.870 4.746 1.184.050 Operating expenses (income): Selling, general and administrative (1) - 40.755 40.057 188.180 373.512 6.208 648.712 Research and development - - 16.605 - 14.287 46 30.938 Operating (loss) income - (40.755) 108.772 (188.180) 626.071 (1.508) 504.400 Other (income) expense: Interest, net (1.740) 51.302 (1.487) 58.281 (4.259) 11 102.108 Other, net - (309.666) 72.705 (159.299) - 396.260 - Income (loss) before income taxes 1.740 217.609 37.554 (87.162) 630.330 (397.779) 402.292 Income tax expense (benefit) 631 8.061 32.825 (97.229) 244.915 (51.342) 137.861 Net Income (loss) 1.109 209.548 4.729 10.067 385.415 (346.437) 264.431 Net Income attributable to noncontrolling interests - - - - 54.883 - 54.883 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 1.109 $ 209.548 $ 4.729 $ 10.067 $ 330.532 $ (346.437) $ 209.548 (1) Selling, general and administrative is presented net of income from equity method investees. For the three months ended March 31, 2016 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 1.128 $ 228.016 $ 10.564 $ 199.941 $ 279.076 $ (422.028) $ 296.697 Gain (loss) related to cash flow hedges - 2.740 - - 1.827 - 4.567 Actuarial gain (loss) on defined benefit pension plans - 99 1.677 5.946 155 - 7.877 Gain (loss) related to foreign currency translation - (141.670) 26.711 - 219.857 201 105.099 Income tax (expense) benefit related to components of other comprehensive income - (818) (498) (2.346) (703) - (4.365) Other comprehensive income (loss), net of tax - (139.649) 27.890 3.600 221.136 201 113.178 Total comprehensive income $ 1.128 $ 88.367 $ 38.454 $ 203.541 $ 500.212 $ (421.827) $ 409.875 Comprehensive income attributable to noncontrolling interests - - - - - 71.801 71.801 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 1.128 $ 88.367 $ 38.454 $ 203.541 $ 500.212 $ (493.628) $ 338.074 For the three months ended March 31, 2015 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 1.109 $ 209.548 $ 4.729 $ 10.067 $ 385.415 $ (346.437) $ 264.431 Gain (loss) related to cash flow hedges - 19.695 - - (12.743) - 6.952 Actuarial gain (loss) on defined benefit pension plans - 100 1.806 7.143 180 - 9.229 Gain (loss) related to foreign currency translation - (142.585) (70.244) - 81.329 4.067 (127.433) Income tax (expense) benefit related to components of other comprehensive income - (5.678) (535) (2.818) 3.107 - (5.924) Other comprehensive income (loss), net of tax - (128.468) (68.973) 4.325 71.873 4.067 (117.176) Total comprehensive income $ 1.109 $ 81.080 $ (64.244) $ 14.392 $ 457.288 $ (342.370) $ 147.255 Comprehensive income attributable to noncontrolling interests - - - - - 50.930 50.930 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 1.109 $ 81.080 $ (64.244) $ 14.392 $ 457.288 $ (393.300) $ 96.325 At March 31, 2016 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Current assets: Cash and cash equivalents $ 1 $ 158 $ 0 $ - $ 568.873 $ (51.262) $ 517.770 Trade accounts receivable, less allowance for doubtful accounts - - 156.131 - 3.444.652 (690) 3.600.093 Accounts receivable from related parties 1.249.157 1.168.026 718.820 2.456.764 3.860.165 (9.214.656) 238.276 Inventories - - 272.156 - 1.272.925 (160.030) 1.385.051 Prepaid expenses and other current assets - 75.145 75.480 1.433 1.216.805 37.036 1.405.899 Total current assets 1.249.158 1.243.329 1.222.587 2.458.197 10.363.420 (9.389.602) 7.147.089 Property, plant and equipment, net - 642 286.481 - 3.398.611 (107.590) 3.578.144 Intangible assets - 1.576 52.504 - 777.037 (80) 831.037 Goodwill - - 51.868 - 13.100.726 - 13.152.594 Deferred taxes - 102.405 33.260 - 168.148 (127.330) 176.483 Other assets (1) - 14.397.455 44.895 13.301.352 6.083.335 (32.645.551) 1.181.486 Total assets $ 1.249.158 $ 15.745.407 $ 1.691.595 $ 15.759.549 $ 33.891.277 $ (42.270.153) $ 26.066.833 Current liabilities: Accounts payable $ - $ 3.514 $ 26.117 $ - $ 525.123 $ - $ 554.754 Accounts payable to related parties - 260.530 537.428 1.653.500 5.686.584 (7.901.510) 236.532 Accrued expenses and other current liabilities 11.833 108.719 142.364 10.447 2.199.262 (13.230) 2.459.395 Short-term debt - 285.055 - - 115.510 (51.702) 348.863 Short-term debt from related parties - 1.625.531 - - - (1.561.547) 63.984 Current portion of long-term debt and capital lease obligations - 26.772 - 200.000 451.703 - 678.475 Income tax payable - 12.444 - - 94.893 (1.547) 105.790 Total current liabilities 11.833 2.322.565 705.909 1.863.947 9.073.075 (9.529.536) 4.447.793 Long term debt and capital lease obligations, less current portion 1.156.370 690.120 - 2.080.706 6.544.377 (2.624.287) 7.847.286 Long term debt from related parties - 2.380.738 - 2.749.047 - (5.129.785) - Other liabilities - 120.020 1.519 372.659 (40.520) 36.399 490.077 Pension liabilities - 16.454 334.973 - 292.087 (31.136) 612.378 Income tax payable 1.444 25.777 - - 13.205 133.237 173.663 Deferred taxes - - - - 636.123 (36.880) 599.243 Total liabilities 1.169.647 5.555.674 1.042.401 7.066.359 16.518.347 (17.181.988) 14.170.440 Noncontrolling interests subject to put provisions and other temporary equity - - 0 - 1.088.272 - 1.088.272 Redeemable Preferred Stock - - - 235.141 (235.141) - - Total FMC-AG & Co. KGaA shareholders' equity 79.511 10.189.733 649.194 8.458.049 15.901.411 (25.088.165) 10.189.733 Noncontrolling interests not subject to put provisions - - - - 618.388 - 618.388 Total equity 79.511 10.189.733 649.194 8.458.049 16.519.799 (25.088.165) 10.808.121 Total liabilities and equity $ 1.249.158 $ 15.745.407 $ 1.691.595 $ 15.759.549 $ 33.891.277 $ (42.270.153) $ 26.066.833 (1) Other assets are presented net of investment in equity method investees. At December 31, 2015 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Current assets: Cash and cash equivalents $ 2 $ 448 $ 5.055 $ - $ 544.443 $ (448) $ 549.500 Trade accounts receivable, less allowance for doubtful accounts - - 144.105 - 3.140.355 736 3.285.196 Accounts receivable from related parties 1.266.557 985.449 682.359 2.434.976 4.002.451 (9.153.507) 218.285 Inventories - - 233.012 - 1.256.252 (148.513) 1.340.751 Prepaid expenses and other current assets - 91.902 60.024 983 1.186.883 34.923 1.374.715 Total current assets 1.266.559 1.077.799 1.124.555 2.435.959 10.130.384 (9.266.809) 6.768.447 Property, plant and equipment, net - 595 267.926 - 3.260.604 (103.551) 3.425.574 Intangible assets - 1.653 51.593 - 777.319 (76) 830.489 Goodwill - - 49.599 - 12.983.151 - 13.032.750 Deferred taxes - 91.392 27.626 - 221.211 (151.396) 188.833 Other assets (1) - 13.950.467 43.452 13.256.088 6.372.300 (32.503.146) 1.119.161 Total assets $ 1.266.559 $ 15.121.906 $ 1.564.751 $ 15.692.047 $ 33.744.969 $ (42.024.978) $ 25.365.254 Current liabilities: Accounts payable $ - $ 7.233 $ 22.914 $ - $ 597.681 $ - $ 627.828 Accounts payable to related parties - 277.986 497.410 1.668.390 5.386.272 (7.677.035) 153.023 Accrued expenses and other current liabilities 29.771 61.216 118.047 15.527 2.285.939 (7.363) 2.503.137 Short-term debt - - - - 109.700 (448) 109.252 Short-term debt from related parties - 1.757.402 - - - (1.738.350) 19.052 Current portion of long-term debt and capital lease obligations - 25.228 - 200.000 439.107 - 664.335 Income tax payable - 20.898 - - 51.921 - 72.819 Total current liabilities 29.771 2.149.963 638.371 1.883.917 8.870.620 (9.423.196) 4.149.446 Long term debt and capital lease obligations, less current portion 1.157.603 663.515 - 2.113.544 6.657.108 (2.738.283) 7.853.487 Long term debt from related parties - 2.276.600 - 2.680.741 - (4.957.341) - Other liabilities - 117.444 1.612 488.142 (176.998) 35.425 465.625 Pension liabilities - 15.342 315.171 - 284.589 (29.774) 585.328 Income tax payable 801 11.900 - - 22.060 127.739 162.500 Deferred taxes - - - - 693.815 (69.315) 624.500 Total liabilities 1.188.175 5.234.764 955.154 7.166.344 16.351.194 (17.054.745) 13.840.886 Noncontrolling interests subject to put provisions and other temporary equity - - 0 - 1.028.368 - 1.028.368 Redeemable Preferred Stock - - - 235.141 (235.141) - - Total FMC-AG & Co. KGaA shareholders' equity 78.384 9.887.142 609.597 8.290.562 15.991.690 (24.970.233) 9.887.142 Noncontrolling interests not subject to put provisions - - - - 608.858 - 608.858 Total equity 78.384 9.887.142 609.597 8.290.562 16.600.548 (24.970.233) 10.496.000 Total liabilities and equity $ 1.266.559 $ 15.121.906 $ 1.564.751 $ 15.692.047 $ 33.744.969 $ (42.024.978) $ 25.365.254 (1) Other assets are presented net of investment in equity method investees. For the three months ended March 31, 2016 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Operating Activities: Net income (loss) $ 1.128 $ 228.016 $ 10.564 $ 199.941 $ 279.076 $ (422.028) $ 296.697 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (199.337) - (194.944) - 394.281 - Depreciation and amortization - 212 14.066 - 174.648 (7.143) 181.783 Change in deferred taxes, net - (8.435) (4.559) - 160 111 (12.723) (Gain) loss on sale of fixed assets and investments - (14) (69) - 973 - 890 (Write Up) write-off loans from related parties - (410) (5.326) - - 5.736 - Compensation expense related to stock options - 5.582 - - 1.842 - 7.424 Investments in equity method investees, net - - - - (16.349) - (16.349) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (5.260) - (261.807) 1.412 (265.655) Inventories - - (27.572) - 1.701 6.629 (19.242) Prepaid expenses and other current and non-current assets - 57.627 (12.549) (71.966) 72.513 911 46.536 Accounts receivable from / payable to related parties 19.205 (408.332) 108.844 8.185 363.507 (13.772) 77.637 Accounts payable, accrued expenses and other current and non-current liabilities (17.938) 14.232 27.810 (5.080) (169.991) (570) (151.537) Income tax payable 642 3.798 - 3.255 28.438 (1.793) 34.340 Net cash provided by (used in) operating activities 3.037 (307.061) 105.949 (60.609) 474.711 (36.226) 179.801 Investing Activities: Purchases of property, plant and equipment - (90) (21.635) - (235.713) 7.260 (250.178) Proceeds from sale of property, plant and equipment - 20 134 - 3.766 - 3.920 Disbursement of loans to related parties - 10.439 - 113.996 - (124.435) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (17.233) (45) (500) (90.514) 17.234 (91.058) Proceeds from divestitures - - - - 216 - 216 Net cash provided by (used in) investing activities - (6.864) (21.546) 113.496 (322.245) (99.941) (337.100) Financing Activities: Short-term borrowings, net - 318.602 (89.521) - 92.736 (51.702) 270.115 Long-term debt and capital lease obligations, net (3.038) (6.612) - (52.887) (115.333) 124.435 (53.435) Increase (decrease) of accounts receivable securitization program - - - - (51.000) - (51.000) Proceeds from exercise of stock options - 1.904 - - 640 - 2.544 Dividends paid - - - - (16.083) 16.083 - Capital increase (decrease) - - - - 3.463 (3.463) - Distributions to noncontrolling interest - - - - (66.576) - (66.576) Contributions from noncontrolling interest - - - - 13.299 - 13.299 Net cash provided by (used in) financing activities (3.038) 313.894 (89.521) (52.887) (138.854) 85.353 114.947 Effect of exchange rate changes on cash and cash equivalents - (259) 63 - 10.818 - 10.622 Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (290) (5.055) - 24.430 (50.814) (31.730) Cash and cash equivalents at beginning of period 2 448 5.055 - 544.443 (448) 549.500 Cash and cash equivalents at end of period $ 1 $ 158 $ - $ - $ 568.873 $ (51.262) $ 517.770 For the three months ended March 31, 2015 Issuer Guarantors Non-Guarantor Subsidiaries FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Combining Adjustment Combined Total Operating Activities: Net income (loss) $ 1.109 $ 209.548 $ 4.729 $ 10.067 $ 385.415 $ (346.437) $ 264.431 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (182.438) - (159.299) - 341.737 - Depreciation and amortization - 139 12.031 - 171.876 (8.192) 175.854 Change in deferred taxes, net - (6.791) 2.315 - (49.326) 1.005 (52.797) (Gain) loss on sale of fixed assets and investments - (14) 24 - 1.033 - 1.043 Compensation expense related to stock options - 3.170 - - 1.308 - 4.478 Investments in equity method investees, net - - - - (3.797) - (3.797) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (3.247) - (105.878) - (109.125) Inventories - - (2.680) - (89.059) (1.582) (93.321) Prepaid expenses and other current and non-current assets - (2.873) (1.576) 188.956 (64.825) 16 119.698 Accounts receivable from / payable to related parties 19.211 (74.066) 50.864 44.936 (12.280) (636) 28.029 Accounts payable, accrued expenses and other current and non-current liabilities (17.938) 33.752 21.419 1.228 91.831 (344) 129.948 Income tax payable 632 (6.739) - (97.229) 77.633 8.532 (17.171) Net cash provided by (used in) operating activities 3.014 (26.312) 83.879 (11.341) 403.931 (5.901) 447.270 Investing Activities: Purchases of property, plant and equipment - (82) (9.634) - (197.381) 5.901 (201.196) Proceeds from sale of property, plant and equipment - 20 68 - 3.491 - 3.579 Disbursement of loans to related parties - (562) - 83.618 - (83.056) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - - (565) - (21.331) - (21.896) Proceeds from divestitures - - - - 10.678 - 10.678 Net cash provided by (used in) investing activities - (624) (10.131) 83.618 (204.543) (77.155) (208.835) Financing Activities: Short-term borrowings, net - 20.607 (74.104) - 65.841 - 12.344 Long-term debt and capital lease obligations, net (3.015) (6.757) - (72.277) (59.997) 83.056 (58.990) Increase (decrease) of accounts receivable securitization program - - - - (156.250) - (156.250) Proceeds from exercise of stock options - 13.536 - - 2.915 - 16.451 Distributions to noncontrolling interest - - - - (62.015) - (62.015) Contributions from noncontrolling interest - - - - 11.171 - 11.171 Net cash provided by (used in) financing activities (3.015) 27.386 (74.104) (72.277) (198.335) 83.056 (237.289) Effect of exchange rate changes on cash and cash equivalents - (520) (636) - (10.923) - (12.079) Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (70) (992) - (9.870) - (10.933) Cash and cash equivalents at beginning of period 1 117 5.722 - 628.015 - 633.855 Cash and cash equivalents at end of period $ 0 $ 47 $ 4.730 $ - $ 618.145 $ - $ 622.922 |
Related Party (Tables)
Related Party (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Related Party (Tables) [Abstract] | |
Related Party Disclosure Tables [Text Block] | Service Agreements, Lease Agreements and Products For the three months ended March 31, 2016 For the three months ended March 31, 2015 March 31, 2016 December 31, 2015 Sales of goods and services Purchases of goods and services Sales of goods and services Purchases of goods and services Accounts Receivables Accounts Payables Accounts Receivables Accounts Payables Service Agreements Fresenius SE 48 5.275 47 6.323 107 2.461 422 3.185 Fresenius SE affiliates 831 20.410 2.034 18.204 608 4.354 2.104 4.079 Equity method investees 4.905 - 2.793 - 5.349 - 10.180 - Total $ 5.784 $ 25.685 $ 4.874 $ 24.527 $ 6.064 $ 6.815 $ 12.706 $ 7.264 Lease Agreements Fresenius SE - 2.537 - 2.393 - - - - Fresenius SE affiliates - 3.750 - 3.694 - - - - Total $ - $ 6.287 $ - $ 6.087 $ - $ - $ - $ - Products Fresenius SE 2 - 2 - - - - - Fresenius SE affiliates 6.048 10.911 6.720 9.309 7.390 2.763 8.774 3.768 Equity method investees - 110.595 - 5.822 - 84.253 - 8.253 Total $ 6.050 $ 121.506 $ 6.722 $ 15.131 $ 7.390 $ 87.016 $ 8.774 $ 12.021 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Inventories (Tables) [Abstract] | |
Inventory Disclosure Tables [Text Block] | March 31, December 31, 2016 2015 Finished goods $ 736.159 $ 670.291 Health care supplies 362.868 395.342 Raw materials and purchased components 213.575 206.525 Work in process 72.449 68.593 Inventories $ 1.385.051 $ 1.340.751 |
Short-term Borrowings, Other Fi
Short-term Borrowings, Other Finanacial Liabilties and Short-term Borrowings from Related Parties (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Short Term Debt (Tables) [Abstract] | |
Schedule of Short-term debt | March 31, December 31, 2016 2015 Borrowings under lines of credit $ 115.499 $ 109.230 Commercial Paper Program 233.353 - Other financial liabilities 11 22 Short-term debt $ 348.863 $ 109.252 Short-term debt from related parties (see Note 2.b) 63.984 19.052 Short-term debt and short-term debt from related parties $ 412.847 $ 128.304 |
Long-term Debt and Capital Le26
Long-term Debt and Capital Lease Obligations (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Long Term Debt and Capital Lease Obligations (Tables) [Abstract] | |
Schedule of long-term debt | March 31, December 31, 2016 2015 Amended 2012 Credit Agreement $ 2.591.669 $ 2.611.580 Senior Notes 5.392.631 5.325.618 Equity-neutral convertible bonds 428.132 407.705 Accounts Receivable Facility - 50.185 Capital lease obligations 44.415 40.621 Other 68.914 82.113 Long-term debt and capital lease obligations $ 8.525.761 $ 8.517.822 Less current portion (678.475) (664.335) Long-term debt and capital lease obligations, less current portion $ 7.847.286 $ 7.853.487 |
2006 Senior Credit Agreement Table | Maximum Amount Available Balance Outstanding March 31, 2016 March 31, 2016 (1) Revolving Credit USD $ 1.000.000 $ 1.000.000 $ 47.476 $ 47.476 Revolving Credit EUR € 400.000 $ 455.400 € - $ - USD Term Loan $ 2.250.000 $ 2.250.000 $ 2.250.000 $ 2.250.000 EUR Term Loan € 270.000 $ 307.395 € 270.000 $ 307.395 $ 4.012.795 $ 2.604.871 Maximum Amount Available Balance Outstanding December 31, 2015 December 31, 2015 (1) Revolving Credit USD $ 1.000.000 $ 1.000.000 $ 25.110 $ 25.110 Revolving Credit EUR € 400.000 $ 435.480 € - $ - USD Term Loan $ 2.300.000 $ 2.300.000 $ 2.300.000 $ 2.300.000 EUR Term Loan € 276.000 $ 300.481 € 276.000 $ 300.481 $ 4.035.961 $ 2.625.591 (1) Amounts shown are excluding debt issuance costs. |
Accounts Receiable Facility | Maximum Amount Available (1) Balance Outstanding (2) March 31, December 31, March 31, December 31, 2016 2015 2016 2015 Accounts Receivable Facility $ 800.000 $ 800.000 $ - $ 51.000 (1) Subject to availability of sufficient accounts receivable meeting funding criteria. (2) Amounts shown are excluding debt issuance costs. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Employee Benefit Plans (Tables) [Abstract] | |
Schedule of the components of net periodic benefit cost | For the three months ended March 31, 2016 2015 Components of net periodic benefit cost: Service cost $ 6.825 $ 6.372 Interest cost 7.329 6.943 Expected return on plan assets (3.872) (4.098) Amortization of unrealized losses 7.907 9.229 Amortization of prior service cost (30) - Net periodic benefit costs $ 18.159 $ 18.446 |
Noncontrolling Interests Subj28
Noncontrolling Interests Subject To Put Provisions (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Noncontrolling Interests Subject To Put Provisions (Tables) [Abstract] | |
Noncontrolling Interests Subject to Put Provisions | March 31, 2016 December 31, 2015 Beginning balance as of January 1, $ 1.023.755 $ 824.658 Contributions to noncontrolling interests (39.144) (164.830) Purchase/ sale of noncontrolling interests 2.579 7.915 Contributions from noncontrolling interests 5.129 16.749 Expiration of put provisions and other reclassifications - 5.206 Changes in fair value of noncontrolling interests 45.821 178.003 Net income 42.835 159.127 Other comprehensive income (loss) 1.592 (3.073) Ending balance as of March 31, 2016 and December 31, 2015 $ 1.082.567 $ 1.023.755 |
Sources Of Revenue (Tables)
Sources Of Revenue (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Patient Service Revenues by Payor | |
Patient Service Revenue | 2016 2015 Medicare program $ 1.294.259 $ 1.200.772 Private/alternative payors 1.267.492 1.134.161 Medicaid and other government sources 132.628 129.228 Hospitals 248.271 213.951 Total patient service revenue $ 2.942.650 $ 2.678.112 |
Earning Per Share (Tables)
Earning Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share (Tables) [Abstract] | |
Schedule of Earning per Share | For the three months ended March 31, 2016 2015 Numerator: Net income attributable to shareholders of FMC-AG & Co. KGaA $ 228.016 $ 209.548 Denominators: Weighted average number of Ordinary shares outstanding 305.325.185 303.683.075 Potentially dilutive Ordinary shares 296.326 1.015.241 Total weighted average Ordinary shares outstanding assuming dilution 305.621.511 304.698.316 Basic earnings per share $ 0,75 $ 0,69 Fully diluted earnings per share $ 0,75 $ 0,69 |
Financial Instrument (Tables)
Financial Instrument (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Financial Instruments (Tables) [Abstract] | |
Non-Derivative Financial Instruments | March 31, December 31, 2016 2015 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Assets Cash and cash equivalents 1 $ 517.770 517.770 $ 549.500 549.500 Accounts receivable (1)(2) 2 3.853.875 3.853.875 3.521.741 3.521.741 Available for sale financial assets 1 299.612 299.612 275.770 275.770 Liabilities Accounts payable (1) 2 791.286 791.286 780.851 780.851 Short-term debt (1) 2 412.847 412.887 128.304 128.304 Long-term debt, excluding Amended 2012 Credit Agreement, Senior Notes and convertible bonds 2 113.329 114.428 172.919 172.919 Amended 2012 Credit Agreement 2 2.591.669 2.604.871 2.611.580 2.625.591 Senior Notes 2 5.392.631 5.874.264 5.325.618 5.782.937 Convertible bonds 2 428.132 571.850 407.705 546.057 Noncontrolling interests subject to put provisions 3 1.088.272 1.088.272 1.028.368 1.028.368 (1) Also includes amounts from related parties. (2) Includes long-term accounts receivable, which are included in "Other assets" in the Consolidated Balance Sheets. |
Derivative Financial Instruments Valuation | March 31, 2016 December 31, 2015 Assets (2) Liabilities (2) Assets (2) Liabilities (2) Derivatives in cash flow hedging relationships (1) Current Foreign exchange contracts 3.807 (1.726) 3.114 (2.921) Interest rate contracts - (1.225) - (1.637) Non-current Foreign exchange contracts - - 171 (127) Interest rate contracts - (1.880) - (961) Total $ 3.807 $ (4.831) $ 3.285 $ (5.646) Derivatives not designated as hedging instruments (1) Current Foreign exchange contracts 15.255 (32.992) 23.908 (7.056) Non-current Foreign exchange contracts 2.963 (3) 1.062 (65) Derivatives embedded in the convertible bonds - (117.469) - (115.990) Share options to secure the convertible bonds 117.469 - 115.990 - Total $ 135.687 $ (150.464) $ 140.960 $ (123.111) (1) At March 31, 2016 and December 31, 2015, the valuation of the Company's derivatives was determined using Significant Other Observable Inputs (Level 2) in accordance with the fair value hierarchy levels established in U.S. GAAP. (2) Derivative instruments are marked to market each reporting period resulting in carrying amounts being equal to fair values at the reporting date. |
Effect of Derivatives on the Consolidated Financial Statements | Amount of Gain or (Loss) Recognized in AOCI on Derivatives Location of (Gain) or Loss Reclassified from AOCI in Income Amount of (Gain) or Loss Reclassified from AOCI in Income Derivatives in Cash Flow Hedging Relationships (Effective Portion) (Effective Portion) for the three months ended March 31, for the three months ended March 31, 2016 2015 (Effective Portion) 2016 2015 Interest rate contracts $ (3.495) $ 13.509 Interest income/expense $ 6.234 $ 6.165 Foreign exchange contracts 2.309 (19.928) Costs of Revenue (481) 7.206 $ (1.186) $ (6.419) $ 5.753 $ 13.371 Derivatives not Designated as Hedging Instruments Amount of (Gain) or Loss Recognized in Income on Derivatives Location of (Gain) or Loss Recognized in Income on Derivatives for the three months ended March 31, 2016 2015 Foreign exchange contracts Selling, general and administrative expense $ 26.700 $ (29.247) Foreign exchange contracts Interest income/expense 707 2.433 Derivatives embedded in the convertible bonds Interest income/expense (3.703) 47.338 Share options to secure the convertible bonds Interest income/expense 3.703 (47.338) $ 27.407 $ (26.814) |
Other Comprehensive Income (L32
Other Comprehensive Income (Loss) (Tables 1) | 3 Months Ended |
Mar. 31, 2016 | |
Other comprehensive income loss net of tax portion attributables to parent [Line Items] | |
Changes in Accumulated Other comprehensive income (loss) | Gain (Loss) related to cash flow hedges Actuarial gain (loss) on defined benefit pension plans Gain (Loss) related to foreign-currency translation Total, before non-controlling interests Non-controlling interests Total Balance at December 31, 2014 $ (103.277) $ (282.019) $ (702.447) $ (1.087.743) $ (5.261) $ (1.093.004) Other comprehensive income (loss) before reclassifications (5.485) - (123.480) (128.965) (3.953) (132.918) Amounts reclassified from AOCI 9.955 5.787 - 15.742 - 15.742 Other comprehensive income (loss) after reclassifications 4.470 5.787 (123.480) (113.223) (3.953) (117.176) Balance at March 31, 2015 $ (98.807) $ (276.232) $ (825.927) $ (1.200.966) $ (9.214) $ (1.210.180) Balance at December 31, 2015 $ (60.214) $ (225.091) $ (1.050.990) $ (1.336.295) $ (10.222) $ (1.346.517) Other comprehensive income (loss) before reclassifications (953) - 101.979 101.026 3.120 104.146 Amounts reclassified from AOCI 4.079 4.953 - 9.032 - 9.032 Other comprehensive income (loss) after reclassifications 3.126 4.953 101.979 110.058 3.120 113.178 Balance at March 31, 2016 $ (57.088) $ (220.138) $ (949.011) $ (1.226.237) $ (7.102) $ (1.233.339) |
Reclassifications out of Accumulated Other comprehensive income | Details about AOCI Components Amount of (Gain) Loss reclassified from AOCI in Income Location of (Gain) Loss reclassified from AOCI in Income 2016 2015 (Gain) Loss related to cash flow hedges Interest rate contracts $ 6.234 $ 6.165 Interest income/expense Foreign exchange contracts (481) 7.206 Costs of Revenue 5.753 13.371 Total before tax (1.674) (3.416) Tax expense or benefit $ 4.079 $ 9.955 Net of tax Actuarial (Gain) Loss on defined benefit pension plans Amortization of unrealized (gain) loss 7.877 9.229 (1) 7.877 9.229 Total before tax (2.924) (3.442) Tax expense or benefit $ 4.953 $ 5.787 Net of tax Total reclassifications for the period $ 9.032 $ 15.742 Net of tax (1) Included in the computation of net periodic pension cost (see Note 7 for additional details). |
Business Segment Information (T
Business Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Business Segment Information (Tables) [Abstract] | |
Schedule of segment reporting information by segment | North America Segment EMEA Segment Asia-Pacific Segment Latin America Segment Segment Total Corporate Total Three months ended March 31, 2016 Revenue external customers $ 3.043.788 $ 630.785 $ 374.334 $ 153.253 $ 4.202.160 $ 3.168 $ 4.205.328 Inter - segment revenue 1.020 - 6 32 1.058 (1.058) - Revenue 3.044.808 630.785 374.340 153.285 4.203.218 2.110 4.205.328 Operating income 436.447 129.844 65.079 10.881 642.251 (101.960) 540.291 Depreciation and amortization (101.326) (28.222) (11.546) (3.600) (144.694) (37.089) (181.783) Income (loss) from equity method investees 16.533 1.370 559 110 18.571 - 18.571 Total assets 17.580.902 3.472.568 1.795.393 657.751 23.506.614 2.560.219 26.066.833 thereof investments in equity method investees 315.139 232.465 114.701 27.089 689.394 - 689.394 Capital expenditures, acquisitions and investments (1) 243.470 29.043 8.571 4.791 285.875 55.361 341.236 Three months ended March 31, 2015 Revenue external customers $ 2.771.479 $ 629.006 $ 353.038 $ 197.880 $ 3.951.403 $ 8.524 $ 3.959.927 Inter - segment revenue 1.290 0 0 99 1.389 (1.389) - Revenue 2.772.769 629.006 353.038 197.979 3.952.792 7.135 3.959.927 Operating income 340.084 141.256 84.512 17.857 583.709 (79.309) 504.400 Depreciation and amortization (97.190) (28.327) (10.831) (4.812) (141.160) (34.694) (175.854) Income (loss) from equity method investees 4.506 1.063 362 273 6.204 - 6.204 Total assets (2),(3) 16.730.207 3.313.409 1.783.850 678.296 22.505.762 2.299.403 24.805.165 thereof investments in equity method investees 270.983 210.902 105.968 24.512 612.365 - 612.365 Capital expenditures, acquisitions and investments (4) 121.232 30.750 12.929 5.459 170.370 52.722 223.092 (1) North America and EMEA acquisitions exclude $8,370 and $11 respectively of non-cash acquisitions for 2016. (2) At March 31, 2015 debt issuance costs in the amount of $59,775 have been reclassified from Prepaid expenses and other current assets and Other assets to Long-term debt and capital lease obligations to conform to the current year´s presentation. (3) Deferred taxes which were classified as current at March 31, 2015 have been reclassified to noncurrent in accordance with Accounting Standards Update 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Taxes. Deferred taxes previously recorded in 2015 within current assets and liabilities have been reclassified to noncurrent assets and liabilities in the amount of $270,664 and $34,380, respectively. As a result of deferred tax netting, noncurrent assets and liabilities were then adjusted in the amount of $241,804. (4) EMEA, Asia-Pacific and Latin America acquisitions exclude $12,887, $33,960 and $309, respectively, of non-cash acquisitions for 2015. |
Supplementary Cash Flow Infor34
Supplementary Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Supplementary Cash Flow Information (Tables) [Abstract] | |
Cash Flow Supplemental [Text Block] | For the three months ended March 31, 2016 2015 Supplementary cash flow information: Cash paid for interest $ 151.683 $ 150.890 Cash paid for income taxes (1) $ 55.948 $ 65.168 Cash inflow for income taxes from stock option exercises (2) $ 640 $ 2.915 Supplemental disclosures of cash flow information: Details for acquisitions: Assets acquired $ (72.059) $ (64.453) Liabilities assumed - 5.025 Noncontrolling interest subject to put provisions 1.801 5.832 Noncontrolling interest 3.848 (8.073) Non-cash consideration 8.381 47.156 Cash paid (58.029) (14.513) Less cash acquired 2.401 473 Net cash paid for acquisitions (55.628) (14.040) Cash paid for investments (32.225) (4.541) Cash paid for intangible assets (3.205) (3.315) Total cash paid for acquisitions and investments, net of cash acquired, and purchases of intangible assets $ (91.058) $ (21.896) (1) Net of tax refund. (2) Thereof the excess tax benefit allocated to additional paid-in capital for the three months ended March 31, 2016 and 2015 was $500 and $2,206, respectively. |
Supplemental Condensed Combin35
Supplemental Condensed Combining Information (Tables) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2014 | |
Supplemental Condensed Combining Information (Tables) [Abstract] | |||
Income statement information segregated by issuers and guarantors | For the three months ended March 31, 2016 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 455.186 $ - $ 4.544.920 $ (794.778) $ 4.205.328 Cost of revenue - - 284.280 - 3.392.016 (788.617) 2.887.679 Gross profit - - 170.906 - 1.152.904 (6.161) 1.317.649 Operating expenses (income): Selling, general and administrative (1) - 58.173 50.561 (66.787) 688.580 9.357 739.884 Research and development - - 20.554 - 16.920 - 37.474 Operating (loss) income - (58.173) 99.791 66.787 447.404 (15.518) 540.291 Other (income) expense: Interest, net (1.770) 46.141 (361) 58.535 2.744 - 105.289 Other, net - (337.932) 63.358 (194.944) - 469.518 - Income (loss) before income taxes 1.770 233.618 36.794 203.196 444.660 (485.036) 435.002 Income tax expense (benefit) 642 5.602 26.230 3.255 165.584 (63.008) 138.305 Net Income (loss) 1.128 228.016 10.564 199.941 279.076 (422.028) 296.697 Net Income attributable to noncontrolling interests - - - - 68.681 - 68.681 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 1.128 $ 228.016 $ 10.564 $ 199.941 $ 210.395 $ (422.028) $ 228.016 (1) Selling, general and administrative is presented net of income from equity method investees. | For the three months ended March 31, 2015 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 462.599 $ - $ 4.254.782 $ (757.454) $ 3.959.927 Cost of revenue - - 297.165 - 3.240.912 (762.200) 2.775.877 Gross profit - - 165.434 - 1.013.870 4.746 1.184.050 Operating expenses (income): Selling, general and administrative (1) - 40.755 40.057 188.180 373.512 6.208 648.712 Research and development - - 16.605 - 14.287 46 30.938 Operating (loss) income - (40.755) 108.772 (188.180) 626.071 (1.508) 504.400 Other (income) expense: Interest, net (1.740) 51.302 (1.487) 58.281 (4.259) 11 102.108 Other, net - (309.666) 72.705 (159.299) - 396.260 - Income (loss) before income taxes 1.740 217.609 37.554 (87.162) 630.330 (397.779) 402.292 Income tax expense (benefit) 631 8.061 32.825 (97.229) 244.915 (51.342) 137.861 Net Income (loss) 1.109 209.548 4.729 10.067 385.415 (346.437) 264.431 Net Income attributable to noncontrolling interests - - - - 54.883 - 54.883 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 1.109 $ 209.548 $ 4.729 $ 10.067 $ 330.532 $ (346.437) $ 209.548 (1) Selling, general and administrative is presented net of income from equity method investees. | |
Balance sheet information segregated by issuers and guarantors | At March 31, 2016 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Current assets: Cash and cash equivalents $ 1 $ 158 $ 0 $ - $ 568.873 $ (51.262) $ 517.770 Trade accounts receivable, less allowance for doubtful accounts - - 156.131 - 3.444.652 (690) 3.600.093 Accounts receivable from related parties 1.249.157 1.168.026 718.820 2.456.764 3.860.165 (9.214.656) 238.276 Inventories - - 272.156 - 1.272.925 (160.030) 1.385.051 Prepaid expenses and other current assets - 75.145 75.480 1.433 1.216.805 37.036 1.405.899 Total current assets 1.249.158 1.243.329 1.222.587 2.458.197 10.363.420 (9.389.602) 7.147.089 Property, plant and equipment, net - 642 286.481 - 3.398.611 (107.590) 3.578.144 Intangible assets - 1.576 52.504 - 777.037 (80) 831.037 Goodwill - - 51.868 - 13.100.726 - 13.152.594 Deferred taxes - 102.405 33.260 - 168.148 (127.330) 176.483 Other assets (1) - 14.397.455 44.895 13.301.352 6.083.335 (32.645.551) 1.181.486 Total assets $ 1.249.158 $ 15.745.407 $ 1.691.595 $ 15.759.549 $ 33.891.277 $ (42.270.153) $ 26.066.833 Current liabilities: Accounts payable $ - $ 3.514 $ 26.117 $ - $ 525.123 $ - $ 554.754 Accounts payable to related parties - 260.530 537.428 1.653.500 5.686.584 (7.901.510) 236.532 Accrued expenses and other current liabilities 11.833 108.719 142.364 10.447 2.199.262 (13.230) 2.459.395 Short-term debt - 285.055 - - 115.510 (51.702) 348.863 Short-term debt from related parties - 1.625.531 - - - (1.561.547) 63.984 Current portion of long-term debt and capital lease obligations - 26.772 - 200.000 451.703 - 678.475 Income tax payable - 12.444 - - 94.893 (1.547) 105.790 Total current liabilities 11.833 2.322.565 705.909 1.863.947 9.073.075 (9.529.536) 4.447.793 Long term debt and capital lease obligations, less current portion 1.156.370 690.120 - 2.080.706 6.544.377 (2.624.287) 7.847.286 Long term debt from related parties - 2.380.738 - 2.749.047 - (5.129.785) - Other liabilities - 120.020 1.519 372.659 (40.520) 36.399 490.077 Pension liabilities - 16.454 334.973 - 292.087 (31.136) 612.378 Income tax payable 1.444 25.777 - - 13.205 133.237 173.663 Deferred taxes - - - - 636.123 (36.880) 599.243 Total liabilities 1.169.647 5.555.674 1.042.401 7.066.359 16.518.347 (17.181.988) 14.170.440 Noncontrolling interests subject to put provisions and other temporary equity - - 0 - 1.088.272 - 1.088.272 Redeemable Preferred Stock - - - 235.141 (235.141) - - Total FMC-AG & Co. KGaA shareholders' equity 79.511 10.189.733 649.194 8.458.049 15.901.411 (25.088.165) 10.189.733 Noncontrolling interests not subject to put provisions - - - - 618.388 - 618.388 Total equity 79.511 10.189.733 649.194 8.458.049 16.519.799 (25.088.165) 10.808.121 Total liabilities and equity $ 1.249.158 $ 15.745.407 $ 1.691.595 $ 15.759.549 $ 33.891.277 $ (42.270.153) $ 26.066.833 (1) Other assets are presented net of investment in equity method investees. | At December 31, 2015 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Current assets: Cash and cash equivalents $ 2 $ 448 $ 5.055 $ - $ 544.443 $ (448) $ 549.500 Trade accounts receivable, less allowance for doubtful accounts - - 144.105 - 3.140.355 736 3.285.196 Accounts receivable from related parties 1.266.557 985.449 682.359 2.434.976 4.002.451 (9.153.507) 218.285 Inventories - - 233.012 - 1.256.252 (148.513) 1.340.751 Prepaid expenses and other current assets - 91.902 60.024 983 1.186.883 34.923 1.374.715 Total current assets 1.266.559 1.077.799 1.124.555 2.435.959 10.130.384 (9.266.809) 6.768.447 Property, plant and equipment, net - 595 267.926 - 3.260.604 (103.551) 3.425.574 Intangible assets - 1.653 51.593 - 777.319 (76) 830.489 Goodwill - - 49.599 - 12.983.151 - 13.032.750 Deferred taxes - 91.392 27.626 - 221.211 (151.396) 188.833 Other assets (1) - 13.950.467 43.452 13.256.088 6.372.300 (32.503.146) 1.119.161 Total assets $ 1.266.559 $ 15.121.906 $ 1.564.751 $ 15.692.047 $ 33.744.969 $ (42.024.978) $ 25.365.254 Current liabilities: Accounts payable $ - $ 7.233 $ 22.914 $ - $ 597.681 $ - $ 627.828 Accounts payable to related parties - 277.986 497.410 1.668.390 5.386.272 (7.677.035) 153.023 Accrued expenses and other current liabilities 29.771 61.216 118.047 15.527 2.285.939 (7.363) 2.503.137 Short-term debt - - - - 109.700 (448) 109.252 Short-term debt from related parties - 1.757.402 - - - (1.738.350) 19.052 Current portion of long-term debt and capital lease obligations - 25.228 - 200.000 439.107 - 664.335 Income tax payable - 20.898 - - 51.921 - 72.819 Total current liabilities 29.771 2.149.963 638.371 1.883.917 8.870.620 (9.423.196) 4.149.446 Long term debt and capital lease obligations, less current portion 1.157.603 663.515 - 2.113.544 6.657.108 (2.738.283) 7.853.487 Long term debt from related parties - 2.276.600 - 2.680.741 - (4.957.341) - Other liabilities - 117.444 1.612 488.142 (176.998) 35.425 465.625 Pension liabilities - 15.342 315.171 - 284.589 (29.774) 585.328 Income tax payable 801 11.900 - - 22.060 127.739 162.500 Deferred taxes - - - - 693.815 (69.315) 624.500 Total liabilities 1.188.175 5.234.764 955.154 7.166.344 16.351.194 (17.054.745) 13.840.886 Noncontrolling interests subject to put provisions and other temporary equity - - 0 - 1.028.368 - 1.028.368 Redeemable Preferred Stock - - - 235.141 (235.141) - - Total FMC-AG & Co. KGaA shareholders' equity 78.384 9.887.142 609.597 8.290.562 15.991.690 (24.970.233) 9.887.142 Noncontrolling interests not subject to put provisions - - - - 608.858 - 608.858 Total equity 78.384 9.887.142 609.597 8.290.562 16.600.548 (24.970.233) 10.496.000 Total liabilities and equity $ 1.266.559 $ 15.121.906 $ 1.564.751 $ 15.692.047 $ 33.744.969 $ (42.024.978) $ 25.365.254 (1) Other assets are presented net of investment in equity method investees. | |
Statement of cash flows information segregated by issuers and guarantors | For the three months ended March 31, 2016 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Operating Activities: Net income (loss) $ 1.128 $ 228.016 $ 10.564 $ 199.941 $ 279.076 $ (422.028) $ 296.697 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (199.337) - (194.944) - 394.281 - Depreciation and amortization - 212 14.066 - 174.648 (7.143) 181.783 Change in deferred taxes, net - (8.435) (4.559) - 160 111 (12.723) (Gain) loss on sale of fixed assets and investments - (14) (69) - 973 - 890 (Write Up) write-off loans from related parties - (410) (5.326) - - 5.736 - Compensation expense related to stock options - 5.582 - - 1.842 - 7.424 Investments in equity method investees, net - - - - (16.349) - (16.349) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (5.260) - (261.807) 1.412 (265.655) Inventories - - (27.572) - 1.701 6.629 (19.242) Prepaid expenses and other current and non-current assets - 57.627 (12.549) (71.966) 72.513 911 46.536 Accounts receivable from / payable to related parties 19.205 (408.332) 108.844 8.185 363.507 (13.772) 77.637 Accounts payable, accrued expenses and other current and non-current liabilities (17.938) 14.232 27.810 (5.080) (169.991) (570) (151.537) Income tax payable 642 3.798 - 3.255 28.438 (1.793) 34.340 Net cash provided by (used in) operating activities 3.037 (307.061) 105.949 (60.609) 474.711 (36.226) 179.801 Investing Activities: Purchases of property, plant and equipment - (90) (21.635) - (235.713) 7.260 (250.178) Proceeds from sale of property, plant and equipment - 20 134 - 3.766 - 3.920 Disbursement of loans to related parties - 10.439 - 113.996 - (124.435) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (17.233) (45) (500) (90.514) 17.234 (91.058) Proceeds from divestitures - - - - 216 - 216 Net cash provided by (used in) investing activities - (6.864) (21.546) 113.496 (322.245) (99.941) (337.100) Financing Activities: Short-term borrowings, net - 318.602 (89.521) - 92.736 (51.702) 270.115 Long-term debt and capital lease obligations, net (3.038) (6.612) - (52.887) (115.333) 124.435 (53.435) Increase (decrease) of accounts receivable securitization program - - - - (51.000) - (51.000) Proceeds from exercise of stock options - 1.904 - - 640 - 2.544 Dividends paid - - - - (16.083) 16.083 - Capital increase (decrease) - - - - 3.463 (3.463) - Distributions to noncontrolling interest - - - - (66.576) - (66.576) Contributions from noncontrolling interest - - - - 13.299 - 13.299 Net cash provided by (used in) financing activities (3.038) 313.894 (89.521) (52.887) (138.854) 85.353 114.947 Effect of exchange rate changes on cash and cash equivalents - (259) 63 - 10.818 - 10.622 Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (290) (5.055) - 24.430 (50.814) (31.730) Cash and cash equivalents at beginning of period 2 448 5.055 - 544.443 (448) 549.500 Cash and cash equivalents at end of period $ 1 $ 158 $ - $ - $ 568.873 $ (51.262) $ 517.770 | For the three months ended March 31, 2015 Issuer Guarantors Non-Guarantor Subsidiaries FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Combining Adjustment Combined Total Operating Activities: Net income (loss) $ 1.109 $ 209.548 $ 4.729 $ 10.067 $ 385.415 $ (346.437) $ 264.431 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (182.438) - (159.299) - 341.737 - Depreciation and amortization - 139 12.031 - 171.876 (8.192) 175.854 Change in deferred taxes, net - (6.791) 2.315 - (49.326) 1.005 (52.797) (Gain) loss on sale of fixed assets and investments - (14) 24 - 1.033 - 1.043 Compensation expense related to stock options - 3.170 - - 1.308 - 4.478 Investments in equity method investees, net - - - - (3.797) - (3.797) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (3.247) - (105.878) - (109.125) Inventories - - (2.680) - (89.059) (1.582) (93.321) Prepaid expenses and other current and non-current assets - (2.873) (1.576) 188.956 (64.825) 16 119.698 Accounts receivable from / payable to related parties 19.211 (74.066) 50.864 44.936 (12.280) (636) 28.029 Accounts payable, accrued expenses and other current and non-current liabilities (17.938) 33.752 21.419 1.228 91.831 (344) 129.948 Income tax payable 632 (6.739) - (97.229) 77.633 8.532 (17.171) Net cash provided by (used in) operating activities 3.014 (26.312) 83.879 (11.341) 403.931 (5.901) 447.270 Investing Activities: Purchases of property, plant and equipment - (82) (9.634) - (197.381) 5.901 (201.196) Proceeds from sale of property, plant and equipment - 20 68 - 3.491 - 3.579 Disbursement of loans to related parties - (562) - 83.618 - (83.056) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - - (565) - (21.331) - (21.896) Proceeds from divestitures - - - - 10.678 - 10.678 Net cash provided by (used in) investing activities - (624) (10.131) 83.618 (204.543) (77.155) (208.835) Financing Activities: Short-term borrowings, net - 20.607 (74.104) - 65.841 - 12.344 Long-term debt and capital lease obligations, net (3.015) (6.757) - (72.277) (59.997) 83.056 (58.990) Increase (decrease) of accounts receivable securitization program - - - - (156.250) - (156.250) Proceeds from exercise of stock options - 13.536 - - 2.915 - 16.451 Distributions to noncontrolling interest - - - - (62.015) - (62.015) Contributions from noncontrolling interest - - - - 11.171 - 11.171 Net cash provided by (used in) financing activities (3.015) 27.386 (74.104) (72.277) (198.335) 83.056 (237.289) Effect of exchange rate changes on cash and cash equivalents - (520) (636) - (10.923) - (12.079) Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (70) (992) - (9.870) - (10.933) Cash and cash equivalents at beginning of period 1 117 5.722 - 628.015 - 633.855 Cash and cash equivalents at end of period $ 0 $ 47 $ 4.730 $ - $ 618.145 $ - $ 622.922 | |
Comprehensive income statement information segregated by issuer | For the three months ended March 31, 2016 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 1.128 $ 228.016 $ 10.564 $ 199.941 $ 279.076 $ (422.028) $ 296.697 Gain (loss) related to cash flow hedges - 2.740 - - 1.827 - 4.567 Actuarial gain (loss) on defined benefit pension plans - 99 1.677 5.946 155 - 7.877 Gain (loss) related to foreign currency translation - (141.670) 26.711 - 219.857 201 105.099 Income tax (expense) benefit related to components of other comprehensive income - (818) (498) (2.346) (703) - (4.365) Other comprehensive income (loss), net of tax - (139.649) 27.890 3.600 221.136 201 113.178 Total comprehensive income $ 1.128 $ 88.367 $ 38.454 $ 203.541 $ 500.212 $ (421.827) $ 409.875 Comprehensive income attributable to noncontrolling interests - - - - - 71.801 71.801 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 1.128 $ 88.367 $ 38.454 $ 203.541 $ 500.212 $ (493.628) $ 338.074 | For the three months ended March 31, 2015 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 1.109 $ 209.548 $ 4.729 $ 10.067 $ 385.415 $ (346.437) $ 264.431 Gain (loss) related to cash flow hedges - 19.695 - - (12.743) - 6.952 Actuarial gain (loss) on defined benefit pension plans - 100 1.806 7.143 180 - 9.229 Gain (loss) related to foreign currency translation - (142.585) (70.244) - 81.329 4.067 (127.433) Income tax (expense) benefit related to components of other comprehensive income - (5.678) (535) (2.818) 3.107 - (5.924) Other comprehensive income (loss), net of tax - (128.468) (68.973) 4.325 71.873 4.067 (117.176) Total comprehensive income $ 1.109 $ 81.080 $ (64.244) $ 14.392 $ 457.288 $ (342.370) $ 147.255 Comprehensive income attributable to noncontrolling interests - - - - - 50.930 50.930 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 1.109 $ 81.080 $ (64.244) $ 14.392 $ 457.288 $ (393.300) $ 96.325 |
Related Party Financing (Detail
Related Party Financing (Details 1) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2016CHF (SFr) | Mar. 31, 2016EUR (€) | Mar. 31, 2016USD ($) | Dec. 31, 2015EUR (€) | Dec. 31, 2015USD ($) | |
Device Agreement Fresenius SE Affiliate [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 9,327,000 | ||||
Maximum Amount | 4,550 | 4,550 | 4,550 | ||
Minimum Amount | 3,500 | 3,500 | 3,500 | ||
Cash Management AR Fresenius SE [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 141,340,000 | $ 131,252,000 | |||
Cash Management AP FreseniusSE [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | 123,729,000 | 115,932,000 | |||
General Partner Loan 1 [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 1,708,000 | 1,633,000 | |||
Date of repayment | Aug. 22, 2016 | Aug. 22, 2016 | Aug. 22, 2016 | ||
Interest rate | 1.335% | 1.335% | 1.335% | ||
Revised Interest Rate | 1.334% | 1.334% | 1.334% | ||
Transaction Amount Original Currency | € | € 1,500,000 | ||||
General Partner Loan 2 [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 1,708,000 | 1,633,000 | |||
Date of repayment | Nov. 27, 2015 | Nov. 27, 2015 | Nov. 27, 2015 | ||
Interest rate | 1.875% | 1.875% | 1.875% | ||
Revised Interest Rate | 1.223% | 1.223% | 1.223% | ||
Transaction Amount Original Currency | € | € 1,500,000 | ||||
Loan To Equity Method Investee [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 22,500,000 | ||||
Date of repayment | Jun. 12, 2015 | Jun. 12, 2015 | Jun. 12, 2015 | ||
Interest rate | 2.5366% | 2.5366% | 2.5366% | ||
Multi Tranche Loan To Equity Method Investee [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 81,673,000 | ||||
Interest LIBOR | 12 month LIBOR + 1.8% | 12 month LIBOR + 1.8% | 12 month LIBOR + 1.8% | ||
Transaction Amount Original Currency | SFr | SFr 78,416,000 | ||||
Term Loan 2011 Fresnius SE Affiliate Investment [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 9,450,000 | 9,036,000 | |||
Date of repayment | Feb. 15, 2021 | Feb. 15, 2021 | Feb. 15, 2021 | ||
Interest rate | 5.25% | 5.25% | 5.25% | ||
Transaction Amount Original Currency | € | € 8,300,000 | ||||
Term Loan 2012 Fresnius SE Affiliate Investment [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 9,450,000 | 9,036,000 | |||
Date of repayment | Jul. 31, 2019 | Jul. 31, 2019 | Jul. 31, 2019 | ||
Interest rate | 5.25% | 5.25% | 5.25% | ||
Transaction Amount Original Currency | € | € 8,300,000 | ||||
Fresenius SE Loan 1 [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 60,568,000 | ||||
Interest rate | 0.797% | 0.797% | 0.797% | ||
Transaction Amount Original Currency | € | € 53,200,000 | ||||
Fresenius SE Loan 2 [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 15,786,000 | ||||
Interest rate | 0.97% | 0.97% | |||
Transaction Amount Original Currency | € | € 14,500,000 | ||||
General Partner AR [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 1,809,000 | $ 486,000 | |||
General Partner AP [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | 18,972,000 | $ 17,806,000 | |||
General Partner Reimbursement [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 6,113,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
ServiceAgreementsFreseniusSE [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | $ 48,000 | $ 47,000 | |
Purchases of Goods and Services | 5,275,000 | 6,323,000 | |
Accounts Receivables | 107,000 | $ 422,000 | |
Accounts Payables | 2,461,000 | 3,185,000 | |
Service Agreements Fresenius SE Affiliates [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 831,000 | 2,034,000 | |
Purchases of Goods and Services | 20,410,000 | 18,204,000 | |
Accounts Receivables | 608,000 | 2,104,000 | |
Accounts Payables | 4,354,000 | 4,079,000 | |
Service Agreements Equity Method Investees [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 4,905,000 | 2,793,000 | |
Purchases of Goods and Services | 0 | 0 | |
Accounts Receivables | 5,349,000 | 10,180,000 | |
Accounts Payables | 0 | 0 | |
Service Agreements Total [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 5,784,000 | 4,874,000 | |
Purchases of Goods and Services | 25,685,000 | 24,527,000 | |
Accounts Receivables | 6,064,000 | 12,706,000 | |
Accounts Payables | 6,815,000 | 7,264,000 | |
Lease Agreements Fresenius SE [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 0 | 0 | |
Purchases of Goods and Services | 2,537,000 | 2,393,000 | |
Accounts Receivables | 0 | 0 | |
Accounts Payables | 0 | 0 | |
Lease Agreements Fresenius SE Affiliates [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 0 | 0 | |
Purchases of Goods and Services | 3,750,000 | 3,694,000 | |
Accounts Receivables | 0 | 0 | |
Accounts Payables | 0 | 0 | |
Lease Agreements Total [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 0 | 0 | |
Purchases of Goods and Services | 6,287,000 | 6,087,000 | |
Accounts Receivables | 0 | 0 | |
Accounts Payables | 0 | 0 | |
Products Fresenius SE [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 2,000 | 2,000 | |
Purchases of Goods and Services | 0 | 0 | |
Accounts Receivables | 0 | 0 | |
Accounts Payables | 0 | 0 | |
Products Fresenius SE Affiliates [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 6,048,000 | 6,720,000 | |
Purchases of Goods and Services | 10,911,000 | 9,309,000 | |
Accounts Receivables | 7,390,000 | 8,774,000 | |
Accounts Payables | 2,763,000 | 3,768,000 | |
Products Equity Method Investees [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 0 | 0 | |
Purchases of Goods and Services | 110,595,000 | 5,822,000 | |
Accounts Receivables | 0 | 0 | |
Accounts Payables | 84,253,000 | 8,253,000 | |
Products Total [Member] | |||
Related Party Transactions 1 [Line Items] | |||
Sales of Goods and Services | 6,050,000 | 6,722,000 | |
Purchases of Goods and Services | 121,506,000 | $ 15,131,000 | |
Accounts Receivables | 7,390,000 | 8,774,000 | |
Accounts Payables | $ 87,016,000 | $ 12,021,000 |
Inventories (Details)
Inventories (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Inventories (Details) [Abstract] | ||
Raw materials and purchased components | $ 213,574,563.33 | $ 206,525,000 |
Work in process | 72,449,474.94 | 68,593,000 |
Finished goods | 736,158,944.08 | 670,291,000 |
Health care supplies | 362,867,955.51 | 395,342,000 |
Inventories | $ 1,385,051,000 | $ 1,340,751,000 |
Short-term Borrowings and Oth39
Short-term Borrowings and Other Financial Liabilities and Short-term Borrowings from Related Parties (Details) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Short Term Borrowings Other Financial Liabilities And Short Term Borrowings From Related Parties (Details) [Abstract] | ||
commercial paper | $ 233,353,000 | $ 0 |
Borrowings under lines of credit | 115,499,000 | 109,230,000 |
Other financial liabilities | 11,000 | 22,000 |
Short-term debt and other financial liabilities | 348,863,000 | 109,252,000 |
Short Term Debt Due To Related Parties Current | 63,984,000 | 19,052,000 |
Short-term borrowings, Other financial liabilities and Short-term borrowings from related parties | 412,847,000 | 128,304,000 |
Related Party Transaction [Line Items] | ||
External Cash Pool | $ 51,702,000 | $ 48,277,000 |
Long-term Debt and Capital Le40
Long-term Debt and Capital Lease Obligations (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Senior Credit Agreement | $ 2,591,669,000 | $ 2,611,580,000 |
Senior Long Term Notes | 5,392,631,000 | 5,325,618,000 |
Convertible Bonds | 428,132,000 | 407,705,000 |
Accounts receivable facility | 0 | 50,185,000 |
Capital lease obligations | 44,415,000 | 40,621,000 |
Other | 68,914,000 | 82,113,000 |
Long-term debt and capital lease obligations | 8,525,761,000 | 8,517,822,000 |
Less current maturities | (678,475,000) | (664,335,000) |
Long-term debt and capital lease obligations less current maturities | 7,847,286,000 | 7,853,487,000 |
Total Long Term Debt | 8,525,761,000 | 8,517,822,000 |
Accounts receivable facility max limit | 800,000,000 | 800,000,000 |
Accounts Receivable Facility | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 800,000,000 | 800,000,000 |
Balance outstanding | 0 | 51,000,000 |
Letter of credit outstanding which reduces available borrowings under the revolving credit facility | 13,822,000 | 16,622,000 |
Term Loan USD [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 2,250,000,000 | 2,300,000,000 |
Balance outstanding | 2,250,000,000 | 2,300,000,000 |
Term Loan EUR [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 307,395,000 | 300,481,000 |
Balance outstanding | 307,395,000 | 300,481,000 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 4,012,795,000 | 4,035,961,000 |
Balance outstanding | 2,604,871,000 | 2,625,591,000 |
Revolving Credit USD [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 1,000,000,000 | 1,000,000,000 |
Balance outstanding | 47,476,000 | 25,110,000 |
Letter of credit outstanding which reduces available borrowings under the revolving credit facility | 3,550,000 | 3,600,000 |
Revolving Credit EUR [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | $ 455,400,000 | $ 435,480,000 |
Noncontrolling Interests Subj41
Noncontrolling Interests Subject to Put Provisions (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Noncontrolling Interests Subject To Put Provisions (Details) [Abstract] | |||
Potential obligations under the put provisions | $ 1,082,567,000 | $ 1,023,755,000 | |
Temporary Equity [Line Items] | |||
Noncontrolling interests subject to put provisions beginning balance | 1,028,368,000 | $ 824,658,000 | 824,658,000 |
contributions to noncontrolling interests | (39,144,000) | ||
Purchase (sale) of noncontrolling interests | 2,579,000 | ||
Cash contributions from noncontrolling interests | 5,129,000 | ||
Changes in fair value of noncontrolling interests | 0 | ||
Net income attributable to noncontrolling interest | 296,697,000 | 264,431,000 | |
Other Comprehensive Income Loss Net Of Tax | 113,178,000 | $ (117,176,000) | |
Noncontrolling interests subject to put provisions ending balance | 1,088,272,000 | 1,028,368,000 | |
Put provisions exercisable | 240,424,000 | 258,552,000 | |
Other temporary equity related to subsidiary stock incentive plan | 5,705,000 | 4,613,000 | |
Noncontrolling interests subject to put provisions [Member] | |||
Temporary Equity [Line Items] | |||
contributions to noncontrolling interests | (39,144,000) | (164,830,000) | |
Purchase (sale) of noncontrolling interests | 2,579,000 | 7,915,000 | |
Cash contributions from noncontrolling interests | 5,129,000 | 16,749,000 | |
Expiration Of Put Provisions | 5,206,000 | ||
Changes in fair value of noncontrolling interests | 45,821,000 | 178,003,000 | |
Net income attributable to noncontrolling interest | 42,835,000 | 159,127,000 | |
Other Comprehensive Income Loss Net Of Tax | $ 1,592,000 | $ (3,073,000) |
Sources Of Revenue (Details)
Sources Of Revenue (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | $ 2,942,650,000 | $ 2,678,112,000 |
Medicare ESRD program | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | 1,294,259,000 | 1,200,772,000 |
Private/alternative payors | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | 1,267,492,000 | 1,134,161,000 |
Medicaid and other government sources | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | 132,628,000 | 129,228,000 |
Hospitals | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | $ 248,271,000 | $ 213,951,000 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Numerators: | ||
Income attributable to the Company | $ 228,016,000 | $ 209,548,000 |
Denominators: | ||
Weighted average number of ordinary shares outstanding | 305,325,185 | 303,683,075 |
Potentially dilutive Ordinary shares | 296,326 | 1,015,241 |
Total weighted average Ordinary shares outstanding assuming dilution | 305,621,511 | 304,698,316 |
Basic income per Ordinary share | $ 0.75 | $ 0.69 |
Fully diluted income per Ordinary share | $ 0.75 | $ 0.69 |
Treasury stock shares retired | 6,549,000 | |
Weighted average price treasury shares | $ 57 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Components Of Net Periodic Benefit Cost [Abstract] | ||
Service cost | $ 6,825,000 | $ 6,372,000 |
Interest cost | 7,329,000 | 6,943,000 |
Expected return on plan assets | (3,872,000) | (4,098,000) |
Amortization of unrealized losses | 7,907,000 | 9,229,000 |
Defined Benefit Plan Recognized Net Gain Loss Due To Settlements | (30,000) | 0 |
Net periodic benefit costs | $ 18,159,000 | $ 18,446,000 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Jan. 01, 2015 | Dec. 31, 2014 | |
Assets: | |||||
Cash and cash equivalents | $ 517,770,000 | $ 622,922,000 | $ 549,500,000 | $ 633,855,000 | $ 549,500,000 |
Liabilities: | |||||
Short-term debt | 348,863,000 | 109,252,000 | |||
Short-term debt from related parties | 63,984,000 | 19,052,000 | |||
Senior Credit Agreement | 2,591,669,000 | 2,611,580,000 | |||
Senior Long Term Notes | 5,392,631,000 | 5,325,618,000 | |||
Noncontrolling interests subject to put provisions | 1,088,272,000 | 1,028,368,000 | $ 1,023,755,000 | $ 824,658,000 | |
Financial instruments notional amount of foreign currency cash flow hedge derivatives | 131,399,000 | 193,880,000 | |||
Financial instrument notional amount of foreign currency derivative instruments not designated as hedging instruments | 2,480,202,000 | 1,637,129,000 | |||
Financial instrument notional amount of interest rate derivatives | 421,245,000 | 409,351,000 | |||
Amount of additional interest expense expected to be reclassified into earnings | 56,265,000 | $ 58,581,000 | |||
Master Netting Agreement Derivative Financial Assets | 16,902,000 | 24,366,000 | |||
Master Netting Agreement Derivative Financial Liabilities | 25,693,000 | 12,765,000 | |||
Master Netting Agreement Derivative Net Assets | 8,770,000 | 16,273,000 | |||
Master Netting Agreement Net Liabilities | 17,561,000 | 4,672,000 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | |||||
Assets: | |||||
Cash and cash equivalents | 517,770,000 | 549,500,000 | |||
Accounts receivable | 3,853,875,000 | 3,521,741,000 | |||
available for sale securities | 299,612,000 | 275,770,000 | |||
Long-term notes receivable | 0 | 0 | |||
Liabilities: | |||||
Accounts Payable | 791,286,000 | 780,851,000 | |||
Short-term debt | 412,847,000 | 128,304,000 | |||
Long term debt, excluding Amended 2006 Senior Credit Agreement, Euro Notes and Senior Notes | 113,329,000 | 172,919,000 | |||
Senior Credit Agreement | 2,591,669,000 | 2,611,580,000 | |||
Senior Long Term Notes | 5,392,631,000 | 5,325,618,000 | |||
Convertible Debt | 428,132,000 | 407,705,000 | |||
Noncontrolling interests subject to put provisions | 1,088,272,000 | 1,028,368,000 | |||
Portion At Fair Value Fair Value Disclosure [Member] | |||||
Assets: | |||||
Cash and cash equivalents | 517,770,000 | 549,500,000 | |||
Accounts receivable | 3,853,875,000 | 3,521,741,000 | |||
available for sale securities | 299,612,000 | 275,770,000 | |||
Long-term notes receivable | 0 | 0 | |||
Liabilities: | |||||
Accounts Payable | 791,286,000 | 780,851,000 | |||
Short-term debt | 412,887,000 | 128,304,000 | |||
Long term debt, excluding Amended 2006 Senior Credit Agreement, Euro Notes and Senior Notes | 114,428,000 | 172,919,000 | |||
Senior Credit Agreement | 2,604,871,000 | 2,625,591,000 | |||
Senior Long Term Notes | 5,874,264,000 | 5,782,937,000 | |||
Convertible Debt | 571,850,000 | 546,057,000 | |||
Noncontrolling interests subject to put provisions | $ 1,088,272,000 | $ 1,028,368,000 |
Financial Instruments (Details
Financial Instruments (Details 1) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | $ 3,807,000 | $ 3,285,000 |
Liabilities | (4,831,000) | (5,646,000) |
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 135,687,000 | 140,960,000 |
Non Hedging Liabilities | (150,464,000) | (123,111,000) |
Foreign Exchange Contract Current 1 [Member] | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 15,255,000 | 23,908,000 |
Non Hedging Liabilities | (32,992,000) | (7,056,000) |
Foreign Exchange Contract Non Current 1 [Member] | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 2,963,000 | 1,062,000 |
Non Hedging Liabilities | (3,000) | (65,000) |
embedded derivative | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 0 | 0 |
Non Hedging Liabilities | (117,469,000) | (115,990,000) |
Bond option | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 117,469,000 | 115,990,000 |
Non Hedging Liabilities | 0 | 0 |
Foreign Exchange Contract Current [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | 3,807,000 | 3,114,000 |
Liabilities | (1,726,000) | (2,921,000) |
Interest Rate Contract Current Dollar [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Liabilities | (1,225,000) | (1,637,000) |
Foreign Exchange Contract Non Current [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | 0 | 171,000 |
Liabilities | 0 | (127,000) |
Interest Rate Contract Non Current Dollar [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | 0 | |
Liabilities | $ (1,880,000) | $ (961,000) |
Financial Instruments (Detail47
Financial Instruments (Details 2) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivative Instruments Gain Loss [Line Items] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | $ (1,186,000) | $ (6,419,000) |
Amount of (Gain) or Loss Recognized in Income on Derivatives | 5,753,000 | 13,371,000 |
Amount of (Gain) or Loss Recognized in Income on Derivatives | 27,407,000 | (26,814,000) |
Non Hedging Foreign Exchange Interest Income Expense [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | 707,000 | 2,433,000 |
Hedging Foreign Exchange Cost Of Sale [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | 2,309,000 | (19,928,000) |
Amount of (Gain) or Loss Recognized in Income on Derivatives | (481,000) | 7,206,000 |
Non Hedging Foreign Exchange Selling general and administrative expense [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | 26,700,000 | (29,247,000) |
HedgingInterestRateContractsInterestIncomeMember [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | (3,495,000) | 13,509,000 |
Amount of (Gain) or Loss Recognized in Income on Derivatives | 6,234,000 | 6,165,000 |
Non Hedging Embedded Derivative [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | (3,703,000) | 47,338,000 |
Non Hedging Share Option on Convertible Bond [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | $ 3,703,000 | $ (47,338,000) |
Other Comprehensive Income (L48
Other Comprehensive Income (Loss) (Details 2) - USD ($) | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other comprehensive income loss net of tax portion attributables to parent [Line Items] | ||||
Other Comprehensive Income Loss Net Of Tax | $ 113,178,000 | $ (117,176,000) | ||
Accumulated other comprehensive (loss) ending balance | (1,226,237,000) | $ (1,336,295,000) | ||
Total FMC-AG and Co. KGaA [Member] | OtherComprehensiveIncomeRollforward [Member] | ||||
Other comprehensive income before reclassifications | 104,146,000 | (132,918,000) | ||
Amounts reclassified from Accumulated Other comprehensive income | (9,032,000) | (15,742,000) | ||
Net current period other comprehensive income | 113,178,000 | (117,176,000) | ||
Accumulated other comprehensive (loss) ending balance | (1,233,339,000) | (1,210,180,000) | (1,346,517,000) | $ (1,093,004,000) |
Accumulated net gain loss from designated or qualifying cash flow hedges (member) | OtherComprehensiveIncomeRollforward [Member] | ||||
Other comprehensive income before reclassifications | (953,000) | (5,485,000) | ||
Amounts reclassified from Accumulated Other comprehensive income | (4,079,000) | (9,955,000) | ||
Net current period other comprehensive income | 3,126,000 | 4,470,000 | ||
Accumulated other comprehensive (loss) ending balance | (57,088,000) | (98,807,000) | (60,214,000) | (103,277,000) |
AccumulatedDefinedBenefitPlansAdjustmentMember | OtherComprehensiveIncomeRollforward [Member] | ||||
Other comprehensive income before reclassifications | 0 | 0 | ||
Amounts reclassified from Accumulated Other comprehensive income | (4,953,000) | (5,787,000) | ||
Net current period other comprehensive income | 4,953,000 | 5,787,000 | ||
Accumulated other comprehensive (loss) ending balance | (220,138,000) | (276,232,000) | (225,091,000) | (282,019,000) |
AccumulatedTranslationAdjustmentMember | OtherComprehensiveIncomeRollforward [Member] | ||||
Other comprehensive income before reclassifications | 101,979,000 | (123,480,000) | ||
Amounts reclassified from Accumulated Other comprehensive income | 0 | 0 | ||
Net current period other comprehensive income | 101,979,000 | (123,480,000) | ||
Accumulated other comprehensive (loss) ending balance | (949,011,000) | (825,927,000) | (1,050,990,000) | (702,447,000) |
TotalBeforeNoncontrollingInterestsMember [Member] | OtherComprehensiveIncomeRollforward [Member] | ||||
Other comprehensive income before reclassifications | 101,026,000 | (128,965,000) | ||
Amounts reclassified from Accumulated Other comprehensive income | (9,032,000) | (15,742,000) | ||
Net current period other comprehensive income | 110,058,000 | (113,223,000) | ||
Accumulated other comprehensive (loss) ending balance | (1,226,237,000) | (1,200,966,000) | (1,336,295,000) | (1,087,743,000) |
Noncontrolling interests not subject to put provisions [Member] | OtherComprehensiveIncomeRollforward [Member] | ||||
Other comprehensive income before reclassifications | 3,120,000 | (3,953,000) | ||
Amounts reclassified from Accumulated Other comprehensive income | 0 | 0 | ||
Net current period other comprehensive income | 3,120,000 | (3,953,000) | ||
Accumulated other comprehensive (loss) ending balance | $ (7,102,000) | $ (9,214,000) | $ (10,222,000) | $ (5,261,000) |
Other Comprehensive Income (L49
Other Comprehensive Income (Loss) (Details 3) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Other comprehensive income loss net of tax portion attributables to parent [Line Items] | ||
Other Comprehensive Income Loss Net Of Tax | $ 113,178,000 | $ (117,176,000) |
Total reclassification for the period | (9,032,000) | (15,742,000) |
Gain Loss Cash Flow Hedge [Member] | ||
Total before tax | 5,753,000 | 13,371,000 |
Tax expense or benefit | (1,674,000) | (3,416,000) |
Net of tax | 4,079,000 | 9,955,000 |
Interest Rate Contract Cash Flow Hedge [Member] | ||
Interest Income Expense Net | 6,234,000 | 6,165,000 |
Foreign Exchange Contract Cash Flow Hedge [Member] | ||
Costs Of Revenue | (481,000) | 7,206,000 |
Actuarial Gain Loss Pensions [Member] | ||
Actuarial (gains)/losses | (7,877,000) | (9,229,000) |
Total before tax | (7,877,000) | (9,229,000) |
Tax expense or benefit | (2,924,000) | (3,442,000) |
Net of tax | $ 4,953,000 | $ 5,787,000 |
Supplementary Cash Flow Infor50
Supplementary Cash Flow Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Supplementary cash flow information: | ||
Cash paid for interest | $ 151,683,000 | $ 150,890,000 |
Cash paid for income taxes, net of tax refund | 55,948,000 | 65,168,000 |
Tax Benefit From Stock Options Exercised 1 | 640,000 | 2,915,000 |
Supplemental disclosures of cash flow information, details for acquisitions: | ||
Acquisition purchase price allocation assets acquired | (72,059,000) | (64,453,000) |
Acquisition purchase price allocation liabilities assumed | 0 | 5,025,000 |
Noncontrolling interest subject to put provisions | 1,801,000 | 5,832,000 |
Noncontrolling interest | 3,848,000 | (8,073,000) |
Acquisition purchase price allocation notes payable and long term debt | 8,381,000 | 47,156,000 |
Cash paid | (58,029,000) | (14,513,000) |
Less cash acquired | 2,401,000 | 473,000 |
Net cash paid for acquisitions | (55,628,000) | (14,040,000) |
Cash Paid For Investments | (32,225,000) | (4,541,000) |
Cash paid for intangible assets | (3,205,000) | (3,315,000) |
Cash paid for acquisitions and investments net of cash acquired and purchases of intangible assets | $ (91,058,000) | $ (21,896,000) |
Business Segment Information (D
Business Segment Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | $ 4,205,328,000 | |
Revenues from transactions with other same entity operating segments | 0 | $ 0 |
Segment revenue | 4,205,328,000 | |
Segment operating income | 540,291,000 | |
Segment depreciation and amortization | (181,783,000) | (175,854,000) |
Income (Loss) From Equity Method Investments | (18,571,000) | (6,204,000) |
thereof investment in equity method investees | 689,394,000 | |
Capital expenditures, acquisitions and investments | 341,236,000 | 223,092,000 |
North America Segment [Member] | ||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | 3,043,788,000 | 2,771,479,000 |
Revenues from transactions with other same entity operating segments | 1,020,000 | 1,290,000 |
Segment revenue | 3,044,808,000 | 2,772,769,000 |
Segment operating income | 436,447,000 | 340,084,000 |
Segment depreciation and amortization | (101,326,000) | (97,190,000) |
Income (Loss) From Equity Method Investments | 16,533,000 | 4,506,000 |
Segment Assets | 17,580,902,000 | 16,730,207,000 |
thereof investment in equity method investees | 315,139,000 | 270,983,000 |
Capital expenditures, acquisitions and investments | 243,470,000 | 121,232,000 |
EMEA Segment [Member] | ||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | 630,785,000 | 629,006,000 |
Revenues from transactions with other same entity operating segments | 0 | 0 |
Segment revenue | 630,785,000 | 629,006,000 |
Segment operating income | 129,844,000 | 141,256,000 |
Segment depreciation and amortization | (28,222,000) | (28,327,000) |
Income (Loss) From Equity Method Investments | 1,370,000 | 1,063,000 |
Segment Assets | 3,472,568,000 | 3,313,409,000 |
thereof investment in equity method investees | 232,465,000 | 210,902,000 |
Capital expenditures, acquisitions and investments | 29,043,000 | 30,750,000 |
Asia-Pacific Segment [Member] | ||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | 374,334,000 | 353,038,000 |
Revenues from transactions with other same entity operating segments | 6,000 | 0 |
Segment revenue | 374,340,000 | 353,038,000 |
Segment operating income | 65,079,000 | 84,512,000 |
Segment depreciation and amortization | (11,546,000) | (10,831,000) |
Income (Loss) From Equity Method Investments | 558,690 | 362,000 |
Segment Assets | 1,795,393,000 | 1,783,850,000 |
thereof investment in equity method investees | 114,701,000 | 105,968,000 |
Capital expenditures, acquisitions and investments | 8,571,000 | 12,929,000 |
Latin America Segment [Member] | ||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | 153,253,000 | 197,880,000 |
Revenues from transactions with other same entity operating segments | 32,000 | 99,000 |
Segment revenue | 153,285,000 | 197,979,000 |
Segment operating income | 10,881,000 | 17,857,000 |
Segment depreciation and amortization | (3,600,000) | (4,812,000) |
Income (Loss) From Equity Method Investments | 109,780 | 273,000 |
Segment Assets | 657,751,000 | 678,296,000 |
thereof investment in equity method investees | 27,089,000 | 24,512,000 |
Capital expenditures, acquisitions and investments | 4,791,000 | 5,459,000 |
Segments Total | ||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | 4,202,160,000 | 3,951,403,000 |
Revenues from transactions with other same entity operating segments | 1,058,000 | 1,389,000 |
Segment revenue | 4,203,218,000 | 3,952,792,000 |
Segment operating income | 642,251,000 | 583,709,000 |
Segment depreciation and amortization | (144,694,000) | (141,160,000) |
Income (Loss) From Equity Method Investments | 18,571,470 | 6,204,000 |
Segment Assets | 23,506,614,000 | 22,505,762,000 |
thereof investment in equity method investees | 689,394,000 | 612,365,000 |
Capital expenditures, acquisitions and investments | 285,875,000 | 170,370,000 |
Corporate [Member] | ||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||
Net revenue from external customers | 3,168,000 | 8,524,000 |
Revenues from transactions with other same entity operating segments | (1,058,000) | (1,389,000) |
Segment revenue | 2,110,000 | 7,135,000 |
Segment operating income | (101,960,000) | (79,309,000) |
Segment depreciation and amortization | (37,089,000) | (34,694,000) |
Income (Loss) From Equity Method Investments | 0 | 0 |
Segment Assets | 2,560,219,000 | 2,299,403,000 |
thereof investment in equity method investees | 0 | 0 |
Capital expenditures, acquisitions and investments | $ 55,361,000 | $ 52,722,000 |
Supplemental Condensed Combin52
Supplemental Condensed Combining Information (Details) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Jan. 01, 2015 | Dec. 31, 2014 | |
Consolidated Statements of Income | |||||
Net revenue | $ 4,205,328,000 | $ 3,959,927,000 | |||
Cost of revenues | 2,887,679,000 | 2,775,877,000 | |||
Gross profit | 1,317,649,000 | 1,184,050,000 | |||
Operating expenses: | |||||
Research and development | 37,474,000 | 30,938,000 | |||
Operating income | 540,291,000 | 504,400,000 | |||
Other (income) expense: | |||||
Income before income taxes | 435,002,000 | 402,292,000 | |||
Income tax expense | 138,305,000 | 137,861,000 | |||
Net Income | 296,697,000 | 264,431,000 | |||
Less: Net income attributable to noncontrolling interests | 68,681,000 | 54,883,000 | |||
Income attributable to the Company | 228,016,000 | 209,548,000 | |||
Current assets: | |||||
Cash and cash equivalents | 517,770,000 | 622,922,000 | $ 549,500,000 | $ 633,855,000 | $ 549,500,000 |
Trade accounts receivable less allowance for doubtful accounts of $508,676 in 2016 and $465,790 in 2015 | 3,600,093,000 | 3,285,196,000 | |||
Accounts receivable from related parties | 238,276,000 | 218,285,000 | |||
Inventories | 1,385,051,000 | 1,340,751,000 | |||
Prepaid expenses and other current assets | 1,405,899,000 | 1,374,715,000 | |||
Deferred tax asset, current | 0 | 0 | |||
Total current assets | 7,147,089,000 | 6,768,447,000 | |||
Property, plant and equipment, net | 3,578,144,000 | 3,425,574,000 | |||
Intangible assets | 831,037,000 | 830,489,000 | |||
Goodwill | 13,152,594,000 | 13,032,750,000 | |||
Deferred tax asset, non-current | 176,483,000 | 188,833,000 | |||
Total assets | 26,066,833,000 | 25,365,254,000 | |||
Current liabilities: | |||||
Accounts payable | 554,754,000 | 627,828,000 | |||
Accounts payable to related parties | 236,532,000 | 153,023,000 | |||
Accrued expenses and other current liabilities | 2,459,395,000 | 2,503,137,000 | |||
Short-term debt and other financial liabilities | 348,863,000 | 109,252,000 | |||
Short Term Debt Due To Related Parties Current | 63,984,000 | 19,052,000 | |||
Current portion of long-term debt and capital lease obligations | 678,475,000 | 664,335,000 | |||
Income tax payable, current | 105,790,000 | 72,819,000 | |||
Deferred tax liability, current | 0 | 0 | |||
Total current liabilities | 4,447,793,000 | 4,149,446,000 | |||
Total long-term debt less current maturities | 7,847,286,000 | 7,853,487,000 | |||
Other liabilities | 490,077,000 | 465,625,000 | |||
Pension liabilities | 612,378,000 | 585,328,000 | |||
Income tax payable, non-current | 173,663,000 | 162,500,000 | |||
Deferred tax liability, non-current | 599,243,000 | 624,500,000 | |||
Total liabilities | 14,170,440,000 | 13,840,886,000 | |||
Noncontrolling interests subject to put provisions | 1,088,272,000 | 1,028,368,000 | 1,023,755,000 | 824,658,000 | |
Total Company shareholders' equity | 10,189,733,000 | 9,887,142,000 | |||
Noncontrolling interests not subject to put provisions | 618,388,000 | 608,858,000 | |||
Total equity | 10,808,121,000 | 10,496,000,000 | 10,028,371,000 | ||
Total liabilities and equity | 26,066,833,000 | 25,365,254,000 | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | 296,697,000 | 264,431,000 | |||
Total comprehensive income | 409,875,000 | 147,255,000 | |||
Comprehensive income attributable to noncontrolling interests | (71,801,000) | (50,930,000) | |||
Comprehensive income attributable to the Company | 338,074,000 | 96,325,000 | |||
Issuers [Member] | FMC US Finance [Member] | |||||
Other (income) expense: | |||||
Interest, net | 1,770,000 | 1,740,000 | |||
Income before income taxes | 1,770,000 | 1,740,000 | |||
Income tax expense | 642,000 | 631,000 | |||
Net Income | 1,128,000 | 1,109,000 | |||
Gain (loss) related to cash flow hedges | 0 | 0 | |||
Defined Benefit Plan Actuarial Gain Loss | 0 | 0 | |||
Gain (loss) related to foreign currency | 0 | 0 | |||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | 0 | 0 | |||
Income attributable to the Company | 1,128,000 | 1,109,000 | |||
Current assets: | |||||
Cash and cash equivalents | 1,000 | 2,000 | $ 2,000 | ||
Accounts receivable from related parties | 1,249,157,000 | 1,266,557,000 | |||
Total current assets | 1,249,158,000 | 1,266,559,000 | |||
Total assets | 1,249,158,000 | 1,266,559,000 | |||
Current liabilities: | |||||
Accrued expenses and other current liabilities | 11,833,000 | 29,771,000 | |||
Total current liabilities | 11,833,000 | 29,771,000 | |||
Total long-term debt less current maturities | 1,156,370,000 | 1,157,603,000 | |||
Income tax payable, non-current | 1,444,000 | 801,000 | |||
Total liabilities | 1,169,647,000 | 1,188,175,000 | |||
Total Company shareholders' equity | 79,511,000 | 78,384,000 | |||
Total equity | 79,511,000 | 78,384,000 | |||
Total liabilities and equity | 1,249,158,000 | 1,266,559,000 | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | 1,128,000 | 1,109,000 | |||
Other comprehensive income (loss) - net | 0 | 0 | |||
Total comprehensive income | 1,128,000 | 1,109,000 | |||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||
Comprehensive income attributable to the Company | 1,128,000 | 1,109,000 | |||
Guarantors [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | 1,000 | ||||
Guarantors [Member] | Total FMC-AG and Co. KGaA [Member] | |||||
Operating expenses: | |||||
Selling, general and administrative | 58,173,000 | 40,755,000 | |||
Operating income | (58,173,000) | (40,755,000) | |||
Other (income) expense: | |||||
Interest, net | (46,141,000) | (51,302,000) | |||
Other, net | 337,932,000 | 309,666,000 | |||
Income before income taxes | 233,618,000 | 217,609,000 | |||
Income tax expense | 5,602,000 | 8,061,000 | |||
Net Income | 228,016,000 | 209,548,000 | |||
Gain (loss) related to cash flow hedges | 2,740,000 | 19,695,000 | |||
Defined Benefit Plan Actuarial Gain Loss | 99,000 | 100,000 | |||
Gain (loss) related to foreign currency | (141,670,000) | (142,585,000) | |||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (818,000) | (5,678,000) | |||
Income attributable to the Company | 228,016,000 | 209,548,000 | |||
Current assets: | |||||
Cash and cash equivalents | 158,000 | 47,000 | 448,000 | 117,000 | |
Accounts receivable from related parties | 1,168,026,000 | 985,449,000 | |||
Prepaid expenses and other current assets | 75,145,000 | 91,902,000 | |||
Total current assets | 1,243,329,000 | 1,077,799,000 | |||
Property, plant and equipment, net | 642,000 | 595,000 | |||
Intangible assets | 1,576,000 | 1,653,000 | |||
Deferred tax asset, non-current | 102,405,000 | 91,392,000 | |||
Other assets | 14,397,455,000 | 13,950,467,000 | |||
Total assets | 15,745,407,000 | 15,121,906,000 | |||
Current liabilities: | |||||
Accounts payable | 3,514,000 | 7,233,000 | |||
Accounts payable to related parties | 260,530,000 | 277,986,000 | |||
Accrued expenses and other current liabilities | 108,719,000 | 61,216,000 | |||
Short-term debt and other financial liabilities | 285,055,000 | 0 | |||
Short Term Debt Due To Related Parties Current | 1,625,531,000 | 1,757,402,000 | |||
Current portion of long-term debt and capital lease obligations | 26,772,000 | 25,228,000 | |||
Income tax payable, current | 12,444,000 | 20,898,000 | |||
Deferred tax liability, current | 0 | 0 | |||
Total current liabilities | 2,322,565,000 | 2,149,963,000 | |||
Total long-term debt less current maturities | 690,120,000 | 663,515,000 | |||
Long term borrowings from related parties | 2,380,738,000 | 2,276,600,000 | |||
Other liabilities | 120,020,000 | 117,444,000 | |||
Pension liabilities | 16,454,000 | 15,342,000 | |||
Income tax payable, non-current | 25,777,000 | 11,900,000 | |||
Total liabilities | 5,555,674,000 | 5,234,764,000 | |||
Total Company shareholders' equity | 10,189,733,000 | 9,887,142,000 | |||
Total equity | 10,189,733,000 | 9,887,142,000 | |||
Total liabilities and equity | 15,745,407,000 | 15,121,906,000 | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | 228,016,000 | 209,548,000 | |||
Other comprehensive income (loss) - net | 139,649,000 | 128,468,000 | |||
Total comprehensive income | 88,367,000 | 81,080,000 | |||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||
Comprehensive income attributable to the Company | 88,367,000 | 81,080,000 | |||
Guarantors [Member] | D GmbH [Member] | |||||
Consolidated Statements of Income | |||||
Net revenue | 455,186,000 | 462,599,000 | |||
Cost of revenues | 284,280,000 | 297,165,000 | |||
Gross profit | 170,906,000 | 165,434,000 | |||
Operating expenses: | |||||
Selling, general and administrative | 50,561,000 | 40,057,000 | |||
Research and development | 20,554,000 | 16,605,000 | |||
Operating income | 99,791,000 | 108,772,000 | |||
Other (income) expense: | |||||
Interest, net | 361,000 | 1,487,000 | |||
Other, net | (63,358,000) | (72,705,000) | |||
Income before income taxes | 36,794,000 | 37,554,000 | |||
Income tax expense | 26,230,000 | 32,825,000 | |||
Net Income | 10,564,000 | 4,729,000 | |||
Gain (loss) related to cash flow hedges | 0 | 0 | |||
Defined Benefit Plan Actuarial Gain Loss | 1,677,000 | 1,806,000 | |||
Gain (loss) related to foreign currency | 26,711,000 | (70,244,000) | |||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (498,000) | (535,000) | |||
Income attributable to the Company | 10,564,000 | 4,729,000 | |||
Current assets: | |||||
Cash and cash equivalents | 0 | 4,730,000 | 5,055,000 | 5,722,000 | |
Trade accounts receivable less allowance for doubtful accounts of $508,676 in 2016 and $465,790 in 2015 | 156,131,000 | 144,105,000 | |||
Accounts receivable from related parties | 718,820,000 | 682,359,000 | |||
Inventories | 272,156,000 | 233,012,000 | |||
Prepaid expenses and other current assets | 75,480,000 | 60,024,000 | |||
Deferred tax asset, current | 0 | ||||
Total current assets | 1,222,587,000 | 1,124,555,000 | |||
Property, plant and equipment, net | 286,481,000 | 267,926,000 | |||
Intangible assets | 52,504,000 | 51,593,000 | |||
Goodwill | 51,868,000 | 49,599,000 | |||
Deferred tax asset, non-current | 33,260,000 | 27,626,000 | |||
Other assets | 44,895,000 | 43,452,000 | |||
Total assets | 1,691,595,000 | 1,564,751,000 | |||
Current liabilities: | |||||
Accounts payable | 26,117,000 | 22,914,000 | |||
Accounts payable to related parties | 537,428,000 | 497,410,000 | |||
Accrued expenses and other current liabilities | 142,364,000 | 118,047,000 | |||
Deferred tax liability, current | 0 | 0 | |||
Total current liabilities | 705,909,000 | 638,371,000 | |||
Other liabilities | 1,519,000 | 1,612,000 | |||
Pension liabilities | 334,973,000 | 315,171,000 | |||
Total liabilities | 1,042,401,000 | 955,154,000 | |||
Total Company shareholders' equity | 649,194,000 | 609,597,000 | |||
Total equity | 649,194,000 | 609,597,000 | |||
Total liabilities and equity | 1,691,595,000 | 1,564,751,000 | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | 10,564,000 | 4,729,000 | |||
Other comprehensive income (loss) - net | (27,890,000) | 68,973,000 | |||
Total comprehensive income | 38,454,000 | (64,244,000) | |||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||
Comprehensive income attributable to the Company | 38,454,000 | (64,244,000) | |||
Guarantors [Member] | FMCH [Member] | |||||
Operating expenses: | |||||
Selling, general and administrative | (66,787,000) | 188,180,000 | |||
Operating income | 66,787,000 | (188,180,000) | |||
Other (income) expense: | |||||
Interest, net | (58,535,000) | (58,281,000) | |||
Other, net | 194,944,000 | 159,299,000 | |||
Income before income taxes | 203,196,000 | (87,162,000) | |||
Income tax expense | 3,255,000 | (97,229,000) | |||
Net Income | 199,941,000 | 10,067,000 | |||
Gain (loss) related to cash flow hedges | 0 | 0 | |||
Defined Benefit Plan Actuarial Gain Loss | 5,946,000 | 7,143,000 | |||
Gain (loss) related to foreign currency | 0 | 0 | |||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (2,346,000) | (2,818,000) | |||
Income attributable to the Company | 199,941,000 | 10,067,000 | |||
Current assets: | |||||
Accounts receivable from related parties | 2,456,764,000 | 2,434,976,000 | |||
Prepaid expenses and other current assets | 1,433,000 | 983,000 | |||
Total current assets | 2,458,197,000 | 2,435,959,000 | |||
Other assets | 13,301,352,000 | 13,256,088,000 | |||
Total assets | 15,759,549,000 | 15,692,047,000 | |||
Current liabilities: | |||||
Accounts payable to related parties | 1,653,500,000 | 1,668,390,000 | |||
Accrued expenses and other current liabilities | 10,447,000 | 15,527,000 | |||
Current portion of long-term debt and capital lease obligations | 200,000,000 | 200,000,000 | |||
Total current liabilities | 1,863,947,000 | 1,883,917,000 | |||
Total long-term debt less current maturities | 2,080,706,000 | 2,113,544,000 | |||
Long term borrowings from related parties | 2,749,047,000 | 2,680,741,000 | |||
Other liabilities | 372,659,000 | 488,142,000 | |||
Total liabilities | 7,066,359,000 | 7,166,344,000 | |||
redeemable preferred stock | 235,141,000 | 235,141,000 | |||
Total Company shareholders' equity | 8,458,049,000 | 8,290,562,000 | |||
Total equity | 8,458,049,000 | 8,290,562,000 | |||
Total liabilities and equity | 15,759,549,000 | 15,692,047,000 | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | 199,941,000 | 10,067,000 | |||
Other comprehensive income (loss) - net | (3,600,000) | (4,325,000) | |||
Total comprehensive income | 203,541,000 | 14,392,000 | |||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||
Comprehensive income attributable to the Company | 203,541,000 | 14,392,000 | |||
Non Guarantor Subsidiaries [Member] | |||||
Consolidated Statements of Income | |||||
Net revenue | 4,544,920,000 | 4,254,782,000 | |||
Cost of revenues | 3,392,016,000 | 3,240,912,000 | |||
Gross profit | 1,152,904,000 | 1,013,870,000 | |||
Operating expenses: | |||||
Selling, general and administrative | 688,580,000 | 373,512,000 | |||
Research and development | 16,920,000 | 14,287,000 | |||
Operating income | 447,404,000 | 626,071,000 | |||
Other (income) expense: | |||||
Interest, net | (2,744,000) | 4,259,000 | |||
Income before income taxes | 444,660,000 | 630,330,000 | |||
Income tax expense | 165,584,000 | 244,915,000 | |||
Net Income | 279,076,000 | 385,415,000 | |||
Gain (loss) related to cash flow hedges | 1,827,000 | (12,743,000) | |||
Defined Benefit Plan Actuarial Gain Loss | 155,000 | 180,000 | |||
Gain (loss) related to foreign currency | 219,857,000 | 81,329,000 | |||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (703,000) | 3,107,000 | |||
Less: Net income attributable to noncontrolling interests | 68,681,000 | ||||
Income attributable to the Company | 210,395,000 | 330,532,000 | |||
Current assets: | |||||
Cash and cash equivalents | 568,873,000 | 618,145,000 | 544,443,000 | $ 628,015,000 | |
Trade accounts receivable less allowance for doubtful accounts of $508,676 in 2016 and $465,790 in 2015 | 3,444,652,000 | 3,140,355,000 | |||
Accounts receivable from related parties | 3,860,165,000 | 4,002,451,000 | |||
Inventories | 1,272,925,000 | 1,256,252,000 | |||
Prepaid expenses and other current assets | 1,216,805,000 | 1,186,883,000 | |||
Deferred tax asset, current | 0 | 0 | |||
Total current assets | 10,363,420,000 | 10,130,384,000 | |||
Property, plant and equipment, net | 3,398,611,000 | 3,260,604,000 | |||
Intangible assets | 777,037,000 | 777,319,000 | |||
Goodwill | 13,100,726,000 | 12,983,151,000 | |||
Deferred tax asset, non-current | 168,148,000 | 221,211,000 | |||
Other assets | 6,083,335,000 | 6,372,300,000 | |||
Total assets | 33,891,277,000 | 33,744,969,000 | |||
Current liabilities: | |||||
Accounts payable | 525,123,000 | 597,681,000 | |||
Accounts payable to related parties | 5,686,584,000 | 5,386,272,000 | |||
Accrued expenses and other current liabilities | 2,199,262,000 | 2,285,939,000 | |||
Short-term debt and other financial liabilities | 115,510,000 | 109,700,000 | |||
Short Term Debt Due To Related Parties Current | 0 | 0 | |||
Current portion of long-term debt and capital lease obligations | 451,703,000 | 439,107,000 | |||
Income tax payable, current | 94,893,000 | 51,921,000 | |||
Deferred tax liability, current | 0 | 0 | |||
Total current liabilities | 9,073,075,000 | 8,870,620,000 | |||
Total long-term debt less current maturities | 6,544,377,000 | 6,657,108,000 | |||
Long term borrowings from related parties | 0 | 0 | |||
Other liabilities | (40,520,000) | (176,998,000) | |||
Pension liabilities | 292,087,000 | 284,589,000 | |||
Income tax payable, non-current | 13,205,000 | 22,060,000 | |||
Deferred tax liability, non-current | 636,123,000 | 693,815,000 | |||
Total liabilities | 16,518,347,000 | 16,351,194,000 | |||
Noncontrolling interests subject to put provisions | 1,088,272,000 | 1,028,368,000 | |||
redeemable preferred stock | (235,141,000) | (235,141,000) | |||
Total Company shareholders' equity | 15,901,411,000 | 15,991,690,000 | |||
Noncontrolling interests not subject to put provisions | 618,388,000 | 608,858,000 | |||
Total equity | 16,519,799,000 | 16,600,548,000 | |||
Total liabilities and equity | 33,891,277,000 | 33,744,969,000 | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | 279,076,000 | 385,415,000 | |||
Other comprehensive income (loss) - net | (221,136,000) | (71,873,000) | |||
Total comprehensive income | 500,212,000 | 457,288,000 | |||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | |||
Comprehensive income attributable to the Company | 500,212,000 | 457,288,000 | |||
Combining Adjustment [Member] | |||||
Consolidated Statements of Income | |||||
Net revenue | (794,778,000) | (757,454,000) | |||
Cost of revenues | (788,617,000) | (762,200,000) | |||
Gross profit | (6,161,000) | 4,746,000 | |||
Operating expenses: | |||||
Selling, general and administrative | 9,357,000 | 6,208,000 | |||
Operating income | (15,518,000) | (1,508,000) | |||
Other (income) expense: | |||||
Other, net | (469,518,000) | (396,260,000) | |||
Income before income taxes | (485,036,000) | (397,779,000) | |||
Income tax expense | (63,008,000) | (51,342,000) | |||
Net Income | (422,028,000) | (346,437,000) | |||
Gain (loss) related to cash flow hedges | 0 | 0 | |||
Defined Benefit Plan Actuarial Gain Loss | 0 | 0 | |||
Gain (loss) related to foreign currency | 201,000 | 4,067,000 | |||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | 0 | 0 | |||
Less: Net income attributable to noncontrolling interests | 0 | ||||
Income attributable to the Company | (422,028,000) | (346,437,000) | |||
Current assets: | |||||
Cash and cash equivalents | (51,262,000) | (448,000) | |||
Trade accounts receivable less allowance for doubtful accounts of $508,676 in 2016 and $465,790 in 2015 | (690,000) | 736,000 | |||
Accounts receivable from related parties | (9,214,656,000) | (9,153,507,000) | |||
Inventories | (160,030,000) | (148,513,000) | |||
Prepaid expenses and other current assets | 37,036,000 | 34,923,000 | |||
Deferred tax asset, current | 0 | 0 | |||
Total current assets | (9,389,602,000) | (9,266,809,000) | |||
Property, plant and equipment, net | (107,590,000) | (103,551,000) | |||
Intangible assets | (80,000) | (76,000) | |||
Deferred tax asset, non-current | (127,330,000) | (151,396,000) | |||
Other assets | (32,645,551,000) | (32,503,146,000) | |||
Total assets | (42,270,153,000) | (42,024,978,000) | |||
Current liabilities: | |||||
Accounts payable to related parties | (7,901,510,000) | (7,677,035,000) | |||
Accrued expenses and other current liabilities | (13,230,000) | (7,363,000) | |||
Short-term debt and other financial liabilities | (51,702,000) | (448,000) | |||
Short Term Debt Due To Related Parties Current | (1,561,547,000) | (1,738,350,000) | |||
Income tax payable, current | (1,547,000) | ||||
Deferred tax liability, current | 0 | 0 | |||
Total current liabilities | (9,529,536,000) | (9,423,196,000) | |||
Total long-term debt less current maturities | (2,624,287,000) | (2,738,283,000) | |||
Long term borrowings from related parties | (5,129,785,000) | (4,957,341,000) | |||
Other liabilities | 36,399,000 | 35,425,000 | |||
Pension liabilities | (31,136,000) | (29,774,000) | |||
Income tax payable, non-current | 133,237,000 | 127,739,000 | |||
Deferred tax liability, non-current | (36,880,000) | (69,315,000) | |||
Total liabilities | (17,181,988,000) | (17,054,745,000) | |||
Total Company shareholders' equity | (25,088,165,000) | (24,970,233,000) | |||
Total equity | (25,088,165,000) | (24,970,233,000) | |||
Total liabilities and equity | (42,270,153,000) | $ (42,024,978,000) | |||
Consolidated Statements of Comprehensive Income | |||||
Net Income | (422,028,000) | (346,437,000) | |||
Other comprehensive income (loss) - net | (201,000) | (4,067,000) | |||
Total comprehensive income | (421,827,000) | (342,370,000) | |||
Comprehensive income attributable to noncontrolling interests | (71,801,000) | (50,930,000) | |||
Comprehensive income attributable to the Company | $ (493,628,000) | $ (393,300,000) |
Supplemental Condensed Combin53
Supplemental Condensed Combining Information (Details 1) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Operating Activities: | |||
Net Income | $ 296,697,000 | $ 264,431,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 181,783,000 | 175,854,000 | |
Change in deferred taxes, net | (12,723,000) | (52,797,000) | |
Stock Option Compensation Expense | 7,424,000 | 4,478,000 | |
Equity Method Investments | 689,394,000 | $ 644,709,000 | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Trade accounts receivable, net | (265,655,000) | (109,125,000) | |
Inventories, net | (19,242,000) | (93,321,000) | |
Prepaid expenses, other current and non-current assets | 46,536,000 | 119,698,000 | |
Accounts payable, accrued expenses and other current and non-current liabilities | (151,537,000) | 129,948,000 | |
Income tax payable | 34,340,000 | (17,171,000) | |
Net cash provided by (used in) operating activities | 179,801,000 | 447,270,000 | |
Investing Activities: | |||
Purchases of property, plant and equipment | (250,178,000) | (201,196,000) | |
Proceeds from sale of property, plant and equipment | 3,920,000 | 3,579,000 | |
Net cash paid for acquisitions, investments and intangible assets | (91,058,000) | (21,896,000) | |
Proceeds from divestitures | 216,000 | 10,678,000 | |
Net cash (used in) provided by investing activities | (337,100,000) | (208,835,000) | |
Financing Activities: | |||
Increase (decrease) of accounts receivable securitization program | (51,000,000) | (156,250,000) | |
Proceeds from exercise of stock options | 2,544,000 | 16,451,000 | |
Payment of dividends | 0 | 0 | |
Distributions to Noncontrolling interests | (66,576,000) | (62,015,000) | |
Contributions from noncontrolling interests | 13,299,000 | 11,171,000 | |
Cash provided by (used in) financing activities | 114,947,000 | (237,289,000) | |
Effect of exchange rate changes on cash and cash equivalents | 10,622,000 | (12,079,000) | |
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (31,730,000) | (10,933,000) | |
Cash and cash equivalents at beginning of period | 549,500,000 | 549,500,000 | 549,500,000 |
Cash and cash equivalents at end of period | 517,770,000 | 622,922,000 | 549,500,000 |
Guarantor 1 [Member] | |||
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (1,000) | ||
Total FMC-AG and Co. KGaA [Member] | |||
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (70,000) | ||
D GmbH [Member] | |||
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (992,000) | ||
Issuers [Member] | |||
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Accounts receivable from/payable to related parties | 19,211,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (17,938,000) | ||
Income tax payable | 632,000 | ||
Net cash provided by (used in) operating activities | 3,014,000 | ||
Financing Activities: | |||
Long-term debt and capital lease obligations, net | (3,015,000) | ||
Cash provided by (used in) financing activities | 313,894,000 | (3,015,000) | |
Effect of exchange rate changes on cash and cash equivalents | (259,000) | ||
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (290,000) | (1,000) | |
Issuers [Member] | FMC US Finance [Member] | |||
Operating Activities: | |||
Net Income | 1,128,000 | 1,109,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Equity Method Investments | 0 | 0 | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Accounts receivable from/payable to related parties | 19,205,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (17,938,000) | ||
Income tax payable | 642,000 | ||
Net cash provided by (used in) operating activities | 3,037,000 | ||
Financing Activities: | |||
Long-term debt and capital lease obligations, net | (3,038,000) | ||
Cash provided by (used in) financing activities | (3,038,000) | ||
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (1,000) | ||
Cash and cash equivalents at beginning of period | 2,000 | ||
Cash and cash equivalents at end of period | 1,000 | 2,000 | |
Guarantors [Member] | |||
Cash and Cash Equivalents: | |||
Cash and cash equivalents at beginning of period | 1,000 | 1,000 | |
Guarantors [Member] | Total FMC-AG and Co. KGaA [Member] | |||
Operating Activities: | |||
Net Income | 228,016,000 | 209,548,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 212,000 | 139,000 | |
Change in deferred taxes, net | (8,435,000) | (6,791,000) | |
(Gain) Loss on sale of fixed assets and investments | (14,000) | (14,000) | |
Stock Option Compensation Expense | 5,582,000 | 3,170,000 | |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions | (199,337,000) | (182,438,000) | |
Write-off of loans from related parties | 0 | ||
Equity Method Investments | 0 | 0 | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Prepaid expenses, other current and non-current assets | 57,627,000 | (2,873,000) | |
Accounts receivable from/payable to related parties | (408,332,000) | (74,066,000) | |
Accounts payable, accrued expenses and other current and non-current liabilities | 14,232,000 | 33,752,000 | |
Income tax payable | 3,798,000 | (6,739,000) | |
Net cash provided by (used in) operating activities | (307,061,000) | (26,312,000) | |
Investing Activities: | |||
Purchases of property, plant and equipment | (90,000) | (82,000) | |
Proceeds from sale of property, plant and equipment | 20,000 | 20,000 | |
Disbursements of loans to related parties | 10,439,000 | (562,000) | |
Net cash paid for acquisitions, investments and intangible assets | (17,233,000) | 0 | |
Proceeds from divestitures | 0 | 0 | |
Net cash (used in) provided by investing activities | (6,864,000) | (624,000) | |
Financing Activities: | |||
Short-term borrowings, net | 318,602,000 | 20,607,000 | |
Long-term debt and capital lease obligations, net | (6,612,000) | (6,757,000) | |
Proceeds from exercise of stock options | 1,904,000 | 13,536,000 | |
Payment of dividends | 0 | ||
Cash provided by (used in) financing activities | 313,894,000 | 27,386,000 | |
Effect of exchange rate changes on cash and cash equivalents | (259,000) | (520,000) | |
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (290,000) | (70,000) | |
Cash and cash equivalents at beginning of period | 448,000 | 117,000 | 117,000 |
Cash and cash equivalents at end of period | 158,000 | 47,000 | 448,000 |
Guarantors [Member] | D GmbH [Member] | |||
Operating Activities: | |||
Net Income | 10,564,000 | 4,729,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 14,066,000 | 12,031,000 | |
Change in deferred taxes, net | (4,559,000) | 2,315,000 | |
(Gain) Loss on sale of fixed assets and investments | (69,000) | 24,000 | |
Equity Method Investments | 0 | 0 | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Trade accounts receivable, net | 5,260,000 | 3,247,000 | |
Inventories, net | 27,572,000 | 2,680,000 | |
Prepaid expenses, other current and non-current assets | 12,549,000 | 1,576,000 | |
Accounts receivable from/payable to related parties | (108,844,000) | (50,864,000) | |
Accounts payable, accrued expenses and other current and non-current liabilities | 27,810,000 | 21,419,000 | |
Income tax payable | 0 | ||
Net cash provided by (used in) operating activities | 105,949,000 | 83,879,000 | |
Investing Activities: | |||
Purchases of property, plant and equipment | (21,635,000) | (9,634,000) | |
Proceeds from sale of property, plant and equipment | 134,000 | 68,000 | |
Disbursements of loans to related parties | 0 | ||
Net cash paid for acquisitions, investments and intangible assets | (45,000) | (565,000) | |
Proceeds from divestitures | 0 | ||
Net cash (used in) provided by investing activities | (21,546,000) | (10,131,000) | |
Financing Activities: | |||
Short-term borrowings, net | (89,521,000) | (74,104,000) | |
Cash provided by (used in) financing activities | (89,521,000) | (74,104,000) | |
Effect of exchange rate changes on cash and cash equivalents | 63,000 | (636,000) | |
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (5,055,000) | (992,000) | |
Cash and cash equivalents at beginning of period | 5,055,000 | 5,722,000 | 5,722,000 |
Cash and cash equivalents at end of period | 0 | 4,730,000 | 5,055,000 |
Guarantors [Member] | FMCH [Member] | |||
Operating Activities: | |||
Net Income | 199,941,000 | 10,067,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Income Loss From Equity Method Investments Net Of Dividends Or Distributions | (194,944,000) | (159,299,000) | |
Equity Method Investments | 0 | 0 | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Prepaid expenses, other current and non-current assets | (71,966,000) | 188,956,000 | |
Accounts receivable from/payable to related parties | 8,185,000 | 44,936,000 | |
Accounts payable, accrued expenses and other current and non-current liabilities | (5,080,000) | 1,228,000 | |
Income tax payable | 3,255,000 | (97,229,000) | |
Net cash provided by (used in) operating activities | (60,609,000) | (11,341,000) | |
Investing Activities: | |||
Disbursements of loans to related parties | 113,996,000 | 83,618,000 | |
Net cash paid for acquisitions, investments and intangible assets | (500,000) | ||
Net cash (used in) provided by investing activities | 113,496,000 | 83,618,000 | |
Financing Activities: | |||
Long-term debt and capital lease obligations, net | (52,887,000) | (72,277,000) | |
Cash provided by (used in) financing activities | (52,887,000) | (72,277,000) | |
Non Guarantor Subsidiaries [Member] | |||
Operating Activities: | |||
Net Income | 279,076,000 | 385,415,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 174,648,000 | 171,876,000 | |
Change in deferred taxes, net | 160,000 | (49,326,000) | |
(Gain) Loss on sale of fixed assets and investments | 973,000 | 1,033,000 | |
Stock Option Compensation Expense | 1,842,000 | 1,308,000 | |
Equity Method Investments | (16,349,000) | (3,797,000) | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Trade accounts receivable, net | (261,807,000) | (105,878,000) | |
Inventories, net | 1,701,000 | (89,059,000) | |
Prepaid expenses, other current and non-current assets | 72,513,000 | (64,825,000) | |
Accounts receivable from/payable to related parties | 363,507,000 | (12,280,000) | |
Accounts payable, accrued expenses and other current and non-current liabilities | (169,991,000) | 91,831,000 | |
Income tax payable | 28,438,000 | 77,633,000 | |
Net cash provided by (used in) operating activities | 474,711,000 | 403,931,000 | |
Investing Activities: | |||
Purchases of property, plant and equipment | (235,713,000) | (197,381,000) | |
Proceeds from sale of property, plant and equipment | 3,766,000 | 3,491,000 | |
Disbursements of loans to related parties | 0 | 0 | |
Net cash paid for acquisitions, investments and intangible assets | (90,514,000) | (21,331,000) | |
Proceeds from divestitures | 216,000 | 10,678,000 | |
Net cash (used in) provided by investing activities | (322,245,000) | (204,543,000) | |
Financing Activities: | |||
Short-term borrowings, net | 92,736,000 | 65,841,000 | |
Long-term debt and capital lease obligations, net | (115,333,000) | (59,997,000) | |
Increase (decrease) of accounts receivable securitization program | (51,000,000) | (156,250,000) | |
Proceeds from exercise of stock options | 640,000 | 2,915,000 | |
Payment of dividends | (16,083,000) | 0 | |
capital increase | 3,463,000 | ||
Distributions to Noncontrolling interests | (66,576,000) | (62,015,000) | |
Contributions from noncontrolling interests | 13,299,000 | 11,171,000 | |
Cash provided by (used in) financing activities | (138,854,000) | (198,335,000) | |
Effect of exchange rate changes on cash and cash equivalents | 10,818,000 | (10,923,000) | |
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | 24,430,000 | (9,870,000) | |
Cash and cash equivalents at beginning of period | 544,443,000 | 628,015,000 | 628,015,000 |
Cash and cash equivalents at end of period | 568,873,000 | 618,145,000 | 544,443,000 |
Combining Adjustment [Member] | |||
Operating Activities: | |||
Net Income | (422,028,000) | (346,437,000) | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | (7,143,000) | (8,192,000) | |
Change in deferred taxes, net | 111,000 | 1,005,000 | |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions | 394,281,000 | 341,737,000 | |
Write-off of loans from related parties | 0 | ||
Equity Method Investments | 0 | 0 | |
Changes in assets and liabilities, net of amounts from businesses acquired: | |||
Trade accounts receivable, net | 1,412,000 | 0 | |
Inventories, net | 6,629,000 | (1,582,000) | |
Prepaid expenses, other current and non-current assets | 911,000 | 16,000 | |
Accounts receivable from/payable to related parties | (13,772,000) | (636,000) | |
Accounts payable, accrued expenses and other current and non-current liabilities | (570,000) | (344,000) | |
Income tax payable | (1,793,000) | 8,532,000 | |
Net cash provided by (used in) operating activities | (36,226,000) | (5,901,000) | |
Investing Activities: | |||
Purchases of property, plant and equipment | 7,260,000 | 5,901,000 | |
Proceeds from sale of property, plant and equipment | 0 | ||
Disbursements of loans to related parties | (124,435,000) | (83,056,000) | |
Net cash paid for acquisitions, investments and intangible assets | 17,234,000 | 0 | |
Proceeds from divestitures | 0 | 0 | |
Net cash (used in) provided by investing activities | (99,941,000) | (77,155,000) | |
Financing Activities: | |||
Short-term borrowings, net | (51,702,000) | ||
Long-term debt and capital lease obligations, net | 124,435,000 | 83,056,000 | |
Payment of dividends | 16,083,000 | 0 | |
capital increase | (3,463,000) | ||
Cash provided by (used in) financing activities | 85,353,000 | 83,056,000 | |
Cash and Cash Equivalents: | |||
(decrease) in cash and cash equivalents | (50,814,000) | $ 0 | |
Cash and cash equivalents at beginning of period | (448,000) | ||
Cash and cash equivalents at end of period | $ (51,262,000) | $ (448,000) |
Uncategorized Items - fms-20160
Label | Element | Value |
Accumulated other comprehensive income (loss) [Member] | ||
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | $ 0 |
Additional paid in capital [Member] | ||
Compensation expense related to stock options | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 12,323,000 |
Changes in fair value of noncontrolling interests | fms_ChangesInFairValueOfNoncontrollingInterests | 0 |
Purchase (sale) of noncontrolling interests | us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest | 7,461,000 |
Proceeds from exercise of options and related tax effects | us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised | $ 87,065,000 |
Common Stock, No par value [Member] | ||
Shares from exercise of options and related tax effects | us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised | 1,758,820 |
Proceeds from exercise of options and related tax effects | us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised | $ 1,947,000 |
Noncontrolling interests not subject to put provisions [Member] | ||
Purchase (sale) of noncontrolling interests | us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest | 7,169,000 |
Cash contributions from noncontrolling interests | us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders | (100,852,000) |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 124,577,000 |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 122,689,000 |
Profit Loss Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ProfitLossLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 0 |
Total FMC-AG and Co. KGaA [Member] | ||
Dividends paid | us-gaap_Dividends | (263,244,000) |
Compensation expense related to stock options | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 12,323,000 |
Changes in fair value of noncontrolling interests | fms_ChangesInFairValueOfNoncontrollingInterests | 0 |
Purchase (sale) of noncontrolling interests | us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest | 7,461,000 |
Proceeds from exercise of options and related tax effects | us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised | 89,012,000 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 1,029,445,000 |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 780,893,000 |
Profit Loss Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ProfitLossLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | (178,003,000) |
Retained earnings [Member] | ||
Dividends paid | us-gaap_Dividends | (263,244,000) |
Profit Loss Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ProfitLossLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 0 |
Total Equity Domain [Member] | ||
Dividends paid | us-gaap_Dividends | (263,244,000) |
Compensation expense related to stock options | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 12,323,000 |
Changes in fair value of noncontrolling interests | fms_ChangesInFairValueOfNoncontrollingInterests | (5,206,000) |
Purchase (sale) of noncontrolling interests | us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest | 14,630,000 |
Cash contributions from noncontrolling interests | us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders | (100,852,000) |
Proceeds from exercise of options and related tax effects | us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised | 89,012,000 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 1,154,022,000 |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | 903,582,000 |
Profit Loss Less Amounts Attributable To Noncontrolling Interests Subject To Put Provisions | fms_ProfitLossLessAmountsAttributableToNoncontrollingInterestsSubjectToPutProvisions | $ (178,003,000) |