Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2016EUR (€)shares | |
Document and Entity Information [Abstract] | |
Document period end date | Sep. 30, 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 | 305,749,589 |
Entity public float | € | € 16,452,360,924.1229 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q3 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net revenue: | ||||
Dialysis Care Revenue | $ 3,839,604,000 | $ 3,506,487,000 | $ 11,061,234,000 | $ 10,249,419,000 |
Less: Patient service bad debt provision | 105,134,000 | 104,248,000 | 341,389,000 | 319,978,000 |
Net Dialysis Care | 3,734,470,000 | 3,402,239,000 | 10,719,845,000 | 9,929,441,000 |
Dialysis Products Revenue | 863,771,000 | 829,112,000 | 2,504,213,000 | 2,460,573,000 |
Net revenue | 4,598,241,000 | 4,231,351,000 | 13,224,058,000 | 12,390,014,000 |
Costs of revenue: | ||||
Dialysis Care Cost of Revenue | 2,746,492,000 | 2,458,449,000 | 7,933,567,000 | 7,355,881,000 |
Dialysis Products Cost of Revenue | 380,091,000 | 391,140,000 | 1,102,654,000 | 1,171,054,000 |
Cost of revenues | 3,126,583,000 | 2,849,589,000 | 9,036,221,000 | 8,526,935,000 |
Gross profit | 1,471,658,000 | 1,381,762,000 | 4,187,837,000 | 3,863,079,000 |
Operating expenses: | ||||
Selling, general and administrative | 786,849,000 | 742,330,000 | 2,277,451,000 | 2,119,864,000 |
Research and development | 43,898,000 | 34,939,000 | 120,136,000 | 100,360,000 |
Income from at equity method investees | (29,031,000) | (9,037,000) | (61,073,000) | (22,038,000) |
Operating income | 669,942,000 | 613,530,000 | 1,851,323,000 | 1,664,893,000 |
Other (income) expense: | ||||
Interest income | (9,849,000) | (6,490,000) | (38,346,000) | (79,599,000) |
Interest expense | 109,869,000 | 105,935,000 | 346,151,000 | 383,110,000 |
Income before income taxes | 569,922,000 | 514,085,000 | 1,543,518,000 | 1,361,382,000 |
Income tax expense | 164,233,000 | 168,434,000 | 470,933,000 | 441,667,000 |
Net Income | 405,689,000 | 345,651,000 | 1,072,585,000 | 919,715,000 |
Less: Net income attributable to noncontrolling interests | 72,511,000 | 83,331,000 | 217,441,000 | 207,079,000 |
Net Income attributable to the Company | $ 333,178,000 | $ 262,320,000 | $ 855,144,000 | $ 712,636,000 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Consolidated Statements of Comprehensive Income | ||||
Net Income | $ 405,689,000 | $ 345,651,000 | $ 1,072,585,000 | $ 919,715,000 |
Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent | 8,074,000 | 15,633,000 | 20,388,000 | 43,571,000 |
Actuarial gains (losses) on defined benefit pension plans | 7,686,000 | 8,660,000 | 23,053,000 | 25,995,000 |
(Loss) gain related to foreign currency translation | 19,170,000 | (142,313,000) | 135,165,000 | (250,948,000) |
Income tax (expense) benefit related to components of other comprehensive income | (5,257,000) | (7,494,000) | (14,523,000) | (22,160,000) |
Other comprehensive income (loss), net of tax | 29,673,000 | (125,514,000) | 164,083,000 | (203,542,000) |
Total comprehensive income | 435,362,000 | 220,137,000 | 1,236,668,000 | 716,173,000 |
Comprehensive income attributable to noncontrolling interests | 73,418,000 | 82,726,000 | 221,404,000 | 203,387,000 |
Comprehensive income attributable to the Company | $ 361,944,000 | $ 137,411,000 | $ 1,015,264,000 | $ 512,786,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 629,837,000 | $ 549,500,000 |
Trade accounts receivable less allowance for doubtful accounts of $553,011 in 2016 and $465,790 in 2015 | 3,620,554,000 | 3,285,196,000 |
Accounts receivable from related parties | 171,463,000 | 218,285,000 |
Inventories | 1,406,594,000 | 1,340,751,000 |
Prepaid expenses and other current assets | 1,389,950,000 | 1,374,715,000 |
Total current assets | 7,218,398,000 | 6,768,447,000 |
Property, plant and equipment, net | 3,734,628,000 | 3,425,574,000 |
Intangible assets | 818,654,000 | 830,489,000 |
Goodwill | 13,487,911,000 | 13,032,750,000 |
Deferred tax asset, non-current | 193,235,000 | 188,833,000 |
Equity Method Investments | 709,814,000 | 644,709,000 |
Other assets | 495,845,000 | 474,452,000 |
Total assets | 26,658,485,000 | 25,365,254,000 |
Current liabilities: | ||
Accounts payable | 527,424,000 | 627,828,000 |
Accounts payable to related parties | 257,960,000 | 153,023,000 |
Accrued expenses and other current liabilities | 2,631,279,000 | 2,503,137,000 |
Short-term debt and other financial liabilities | 721,246,000 | 109,252,000 |
Short-term debt from related parties | 98,886,000 | 19,052,000 |
Current portion of long-term debt and capital lease obligations | 891,299,000 | 664,335,000 |
Income tax payable, current | 125,716,000 | 72,819,000 |
Total current liabilities | 5,253,810,000 | 4,149,446,000 |
Long-term debt and capital lease obligations less current maturities | 7,174,008,000 | 7,853,487,000 |
Other liabilities | 545,721,000 | 465,625,000 |
Pension liabilities | 514,480,000 | 585,328,000 |
Income tax payable, non-current | 128,397,000 | 162,500,000 |
Deferred tax liability, non-current | 581,721,000 | 624,500,000 |
Total liabilities | 14,198,137,000 | 13,840,886,000 |
Noncontrolling interests subject to put provisions | 1,222,643,000 | 1,028,368,000 |
Company shareholders' equity: | ||
Common stock, no par value, 1.00 Euro nominal value, 385,913,972 shares authorized, 307,141,323 issued and 306,141,372 outstanding | 380,872,000 | 387,162,000 |
Treasury stock, at cost | (136,976,000) | (505,014,000) |
Additional paid-in capital | 3,074,913,000 | 3,470,308,000 |
Retained earnings | 8,448,949,000 | 7,870,981,000 |
Accumulated other comprehensive (loss) | (1,176,175,000) | (1,336,295,000) |
Total Company shareholders' equity | 10,591,583,000 | 9,887,142,000 |
Noncontrolling interests not subject to put provisions | 646,122,000 | 608,858,000 |
Total equity | 11,237,705,000 | 10,496,000,000 |
Total liabilities and equity | $ 26,658,485,000 | $ 25,365,254,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) | Sep. 30, 2016USD ($)shares | Sep. 30, 2016€ / shares | Dec. 31, 2015USD ($) |
Consolidated Balance Sheets | |||
Trade accounts receivable allowance for doubtful accounts | $ | $ 557,854,000 | $ 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 | 306,749,540 | ||
Common stock outstanding | 305,749,589 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Activities: | ||
Net Income | $ 1,072,585,000 | $ 919,715,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 572,583,000 | 536,651,000 |
Change in deferred taxes, net | (54,899,000) | (103,203,000) |
(Gain) loss on sale of investments | (3,095,000) | (5,177,000) |
Stock Option Compensation Expense | 26,308,000 | 5,902,000 |
Investment in equity method investees, net | (55,749,000) | (10,722,000) |
Changes in assets and liabilities, net of amounts from businesses acquired: | ||
Trade accounts receivable, net | (269,958,000) | 273,337,000 |
Inventories, net | (45,188,000) | 265,595,000 |
Prepaid expenses, other current and non-current assets | 32,842,000 | (284,718,000) |
Accounts receivable, related parties | (19,484,000) | (31,244,000) |
Accounts payable, related parties | 101,235,000 | 70,428,000 |
Accounts payable, accrued expenses and other current and non-current liabilities | (63,275,000) | 247,618,000 |
Income tax payable | 2,411,000 | (26,518,000) |
Net cash provided by (used in) operating activities | 1,296,316,000 | 1,411,724,000 |
Investing Activities: | ||
Purchases of property, plant and equipment | (747,642,000) | (647,350,000) |
Proceeds from sale of property, plant and equipment | 13,586,000 | 11,167,000 |
Acquisitions and investments, net of cash acquired, and net purchases of intangible assets | (386,968,000) | 165,694,000 |
Proceeds from divestitures | 193,135,000 | 42,513,000 |
Net cash (used in) provided by investing activities | (927,889,000) | (759,364,000) |
Financing Activities: | ||
Proceeds from short-term debt and other financial liabilities | 818,691,000 | 211,027,000 |
Repayments of short-term debt and other financial liabilities | (219,120,000) | 236,295,000 |
Proceeds from short-term debtfrom related parties | 138,744,000 | 59,063,000 |
Repayments of short-term debt from related parties | (59,382,000) | 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) | 225,000 | 5,972,000 |
Repayments of long-term debt and capital lease obligations | (553,045,000) | 264,693,000 |
Increase (decrease) of accounts receivable securitization program | (51,000,000) | 45,750,000 |
Proceeds from exercise of stock options | 46,522,000 | 67,234,000 |
Distributions to Noncontrolling interests | (234,742,000) | (201,884,000) |
Contributions from noncontrolling interests | 72,462,000 | 34,299,000 |
Payment of dividends [N] | (277,176,000) | (263,244,000) |
Net cash (used in) provided by financing activities | (317,821,000) | (634,271,000) |
Effect of exchange rate changes on cash and cash equivalents | 29,731,000 | (30,567,000) |
Cash and Cash Equivalents: | ||
Net (decrease) in cash and cash equivalents | 80,337,000 | (12,478,000) |
Cash and cash equivalents at beginning of period | 549,500,000 | |
Cash and cash equivalents at end of period | $ 629,837,000 | $ 621,377,000 |
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 | $ 927,000 | 44,648,000 | 45,575,000 | 45,575,000 | |||||
Shares from exercise of options and related tax effects | 827,252 | ||||||||
Compensation expense related to stock options | 26,308,000 | 26,308,000 | 26,308,000 | ||||||
Vested Subsidiary Stock Option Plans | (2,609,000) | (2,609,000) | (2,609,000) | ||||||
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 | (277,176,000) | (277,176,000) | (277,176,000) | ||||||
Purchase (sale) of noncontrolling interests | 12,404,000 | 12,404,000 | 20,895,000 | 33,299,000 | |||||
Cash contributions from noncontrolling interests | (74,800,000) | (74,800,000) | |||||||
Expiration Of Put Provisions | 3,917,000 | 3,917,000 | |||||||
Changes in fair value of noncontrolling interests | (115,325,000) | (115,325,000) | (115,325,000) | ||||||
Net Income | 855,144,000 | 855,144,000 | 84,174,000 | 939,318,000 | |||||
Other comprehensive income (loss) - net | 160,120,000 | 160,120,000 | 3,078,000 | 163,198,000 | |||||
Total comprehensive income | 1,015,264,000 | 87,252,000 | 1,102,516,000 | ||||||
Total equity | $ 11,237,705,000 | $ 380,872,000 | $ (136,976,000) | 3,074,913,000 | 8,448,949,000 | (1,176,175,000) | 10,591,583,000 | 646,122,000 | 11,237,705,000 |
Shares issued | 307,141,323 | (999,951) | |||||||
Shareholders equity ending balance | $ 380,872,000 | $ (136,976,000) | $ 3,074,913,000 | $ 8,448,949,000 | $ (1,176,175,000) | $ 10,591,583,000 | $ 646,122,000 | $ 11,237,705,000 |
Company and Basis of Presentati
Company and Basis of Presentation | 9 Months Ended |
Sep. 30, 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, based on publicly reported sales and number of patients treated. 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 ESRD, 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 water treatment. The Company supplies dialysis clinics it owns, operates or manages with a broad range of products and also sales dialysis products to other dialysis service providers. The Compa ny describes its other health care services as “Care Coordination.” 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 , ambulatory surgery center 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” refers 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 S egment” refers to the Europe, Middle East and Africa operating 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 14 “ 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 statements at September 30 , 2016 and for the three and nine months ended September 30 , 2016 and 2015 contained in this report are unaudited and should be read in conjunction with the consolidated financ ial 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 the 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 a ccompanying consolidated financial statements are the same 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 y ear’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, were reclassified to noncurrent as of January 1, 2016 in accorda nce with Accounting Standards Update 2015-17, Income Taxes (Topic 740) Balance 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 an d $36,399, respectively. As a result of deferred tax netting, noncurrent assets and liabilities have been adjusted in the amount of $168,232. The results of operations for the three and nine months ended September 30 , 2016 are not necessarily indicative of the results of operations for the year ending December 31 , 2016 . |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 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 30,8% of the Company’s outstanding shares at September 30 , 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. (“VFMCRP”) , an equity method investee of which the Company owns 45%. T he Company has entered into exclusive supply agreement s to purchase certain pharmaceutic als from VFMCRP. 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 nine months ended September 30, 2016 For the nine months ended September 30, 2015 September 30, 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 156 16.864 145 14.550 337 5.922 422 3.185 Fresenius SE affiliates 2.694 62.164 5.557 56.818 735 2.386 2.104 4.079 Equity method investees 14.150 - 16.392 - 847 - 10.180 - Total $ 17.000 $ 79.028 $ 22.094 $ 71.368 $ 1.919 $ 8.308 $ 12.706 $ 7.264 Lease Agreements Fresenius SE - 7.869 - 7.161 - - - - Fresenius SE affiliates - 11.396 - 10.967 - - - - Total $ - $ 19.265 $ - $ 18.128 $ - $ - $ - $ - Products Fresenius SE 2 - 5 - - - - - Fresenius SE affiliates 19.365 35.999 19.957 27.675 9.428 4.127 8.774 3.768 Equity method investees - 326.401 - 168.287 - 85.481 - 8.253 Total $ 19.367 $ 362.400 $ 19.962 $ 195.962 $ 9.428 $ 89.608 $ 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 September 30 , 2016 and December 31 , 2015 , the Company had accounts receivables from Fresenius SE related to short-term financing in the amount of $ 160.026 and $ 131.252 , respectively. As of September 30 , 2016 and December 31 , 2015 , the Company had accounts payables to Fresenius SE related to short-term financing in the amount of $ 155.701 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 ($ 1.674 at September 30 , 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 22, 2017 with an interest rate of 1,054% . On November 28, 2013, the Company borrowed an additional € 1.500 ($ 1.674 at September 30 , 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% . The Company provided unsecured term loans to one of its equity method investees during 2015 and 2016 in the amoun t of CHF 78.416 ($ 80.037 based upon the average exchange rate for the nine months ended September 30, 2016). These loans were repaid in full during the first half of 2016. At September 30 , 2016 and December 31 , 2015 , a subsidiary of Fresenius SE held unsecured Senior Notes issued by the Company in the amount of € 8.300 and € 8.300 ($ 9.264 at September 30 , 2016 and $ 9.036 at December 31 , 2015 ), respectively. 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 September 30 , 2016 and December 31 , 2015 , the Compan y borrowed from Fresenius SE in the amount of € 85.600 and € 14.500 ( $ 95.538 at September 30 , 2016 and $ 15.786 at December 31 , 2015 ) on an unsecured basis at an interest rate of 0,729% and 0,970% , respectively . For further information on these loan agreement s , see Note 4 . “Short-Term Debt and Short-Term Debt from Related Parties – Short-Term Debt from Related Parties.” c) Key Management Pers onnel Due to the legal form of a German partnership limited 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 t heir close relatives, are considered related parties. The 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 $ 17.398 and $ 10.718 , respectively, for its management ser vices during the nine months ended September 30 , 2016 and 2015 . As of September 30 , 2016 and December 31 , 2015 , the Company had accounts receivable from the General Partner in the amount of $ 90 and $ 486 , respec tively. As of September 30 , 2016 and December 31 , 2015 , the Company had accounts payable to the General Partner in the amount of $ 4.343 and $ 17.806 , respectively. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Inventories | 3 . Inventories At September 30 , 2016 and December 31 , 2015 , inventories consisted of the following: September 30, December 31, 2016 2015 Finished goods $ 733.183 $ 670.291 Health care supplies 357.778 395.342 Raw materials and purchased components 232.561 206.525 Work in process 83.072 68.593 Inventories $ 1.406.594 $ 1.340.751 |
Short-Term Borrowings and Other
Short-Term Borrowings and Other Financial Liabilities, and Short-Term Borrowings from Related Parties | 9 Months Ended |
Sep. 30, 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 September 30 , 2016 and December 31 , 2015 , short-term debt and short-term debt from related parties consisted of the following: September 30, December 31, 2016 2015 Borrowings under lines of credit $ 99.074 $ 109.230 Commercial Paper Program 613.801 - Other financial liabilities 8.371 22 Short-term debt $ 721.246 $ 109.252 Short-term debt from related parties (see Note 2.b) 98.886 19.052 Short-term debt and short-term debt from related parties $ 820.132 $ 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 September 30 , 2016 and December 31 , 2015 , cash and borrowings under lines of credit in the amount of $ 274.996 and $ 48.277 were offset under this cash management system. Commercial paper programs are flexible financing instruments to obtain short-term funding on the money m arket. Typically, commercial paper maturities range from a few days up to under two years. The Company can issue short-term notes of up to €1,000,000 ($ 1 , 116 , 100 ). Other financial liabilities At September 30 , 2016 and December 31 , 2015 , the Company had $ 8.371 and $ 22 of other financial liabilities which were mainly related to outstanding acquisition payments. 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 $400,000 until maturity on October 30, 2017. The interest on the advance(s) will be at a fluctuating rate per annum equal to LIBOR or EURIBOR a s applicable plus an applicable margin. Advances can be repaid and reborrowed . At September 30 , 2016 and December 31 , 2015 , the Company borrowed from Fresenius SE € 85.600 and € 14.500 ($ 95.538 at September 30 , 2016 and $ 15.786 at December 31 , 2015 ) on an unsecured basis. For further information on short-term debt from related parties , see Note 2 b). |
Long-term Debt and Capital Leas
Long-term Debt and Capital Lease Obligations | 9 Months Ended |
Sep. 30, 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 September 30 , 2016 and December 31 , 2015 , long-term debt and capital lease obligations consisted of the following: September 30, December 31, 2016 2015 Amended 2012 Credit Agreement $ 2.439.158 $ 2.611.580 Senior Notes 5.090.652 5.325.618 Equity-neutral convertible bonds 423.196 407.705 Accounts Receivable Facility - 50.185 Capital lease obligations 48.500 40.621 Other 63.801 82.113 Long-term debt and capital lease obligations $ 8.065.307 $ 8.517.822 Less current portion (891.299) (664.335) Long-term debt and capital lease obligations, less current portion $ 7.174.008 $ 7.853.487 Amended 2012 Credit Agreement The following table shows the available and outstanding amounts under the Amended 2012 Credit Agreement at September 30 , 2016 and December 31 , 2015 : Maximum Amount Available Balance Outstanding September 30, 2016 September 30, 2016 (1) Revolving Credit USD $ 1.000.000 $ 1.000.000 $ 12.523 $ 12.523 Revolving Credit EUR € 400.000 $ 446.440 € - $ - USD Term Loan $ 2.150.000 $ 2.150.000 $ 2.150.000 $ 2.150.000 EUR Term Loan € 258.000 $ 287.954 € 258.000 $ 287.954 $ 3.884.394 $ 2.450.477 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 September 30 , 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 September 30 , 2016 and at December 31 , 2015 : Maximum Amount Available (1) Balance Outstanding (2) September 30, December 31, September 30, 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 September 30 , 2016 and December 31 , 2015 , respectively . These letters of credit are not included above as part of the balance outstanding at September 30 , 2016 and December 31 , 2015 ; however, they reduce available borrowings under the A ccounts R eceivable F acility. |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Employee Benefit Plans | 8 . 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 and nine months ended September 30 , 2016 and 2015 , respectively. For the three months ended September 30, For the nine months ended September 30, 2016 2015 2016 2015 Components of net periodic benefit cost: Service cost $ 4.746 $ 6.243 $ 18.430 $ 18.764 Interest cost 7.289 6.949 21.864 20.864 Expected return on plan assets (3.870) (4.100) (11.610) (12.302) Amortization of unrealized losses 7.715 8.660 23.141 25.995 Amortization of prior service cost (29) - (88) - Net periodic benefit costs $ 15.851 $ 17.752 $ 51.737 $ 53.321 |
Noncontrolling Interests Subjec
Noncontrolling Interests Subject to Put Provisions | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Noncontrolling Interests Subject to Put Provisions | 9 . 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 September 30 , 2016 and December 31 , 2015 , the Company’s potential obligations under these put options were $ 1.216.801 and $ 1.023.755 . At September 30 , 2016 and December 31 , 2015 , put options with an aggregate purchase obligation of $ 293.192 and $ 258.552 , respectively, were exercisable. Two put options were exercised for a total consideration of $740 during the first nine months of 2016 . The following is a roll forward of noncontrolling interests subject to put provisions for the nine months ended September 30 , 2016 and the year ended December 31 , 2015 : September 30, 2016 December 31, 2015 Beginning balance as of January 1, $ 1.023.755 $ 824.658 Contributions to noncontrolling interests (133.511) (164.830) Purchase/ sale of noncontrolling interests 50.699 7.915 Contributions from noncontrolling interests 30.298 16.749 Expiration of put provisions and other reclassifications (3.917) 5.206 Changes in fair value of noncontrolling interests 115.325 178.003 Net income 133.267 159.127 Other comprehensive income (loss) 885 (3.073) Ending balance as of September 30, 2016 and December 31, 2015 $ 1.216.801 $ 1.023.755 In addition to the amounts in the table above, Other Temporary Equity related to subsidiary stock incentive plans was $ 5.842 and $ 4.613 as of September 30 , 2016 and December 31 , 2015 , respectively. |
Sources Of Revenue
Sources Of Revenue | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Sources of Revenue | 10 . 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 nine months ended September 30 , 2016 and 2015 . 2016 2015 Medicare program $ 3.991.859 $ 3.759.692 Private/alternative payors 3.971.847 3.574.919 Medicaid and other government sources 465.610 398.912 Hospitals 750.233 673.721 Total patient service revenue $ 9.179.549 $ 8.407.244 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Earnings Per Share | 7 . 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 and nine months ended September 30 , 2016 and 2015 : For the three months ended September 30, For the nine months ended September 30, 2016 2015 2016 2015 Numerator: Net income attributable to shareholders of FMC-AG & Co. KGaA $ 333.178 $ 262.320 $ 855.144 $ 712.636 Denominators: Weighted average number of Ordinary shares outstanding 305.972.432 304.738.291 305.602.983 304.201.787 Potentially dilutive Ordinary shares 531.891 450.218 452.247 454.573 Total weighted average Ordinary shares outstanding assuming dilution 306.504.323 305.188.509 306.055.230 304.656.360 Basic earnings per share $ 1,09 $ 0,86 $ 2,80 $ 2,34 Fully diluted earnings per share $ 1,09 $ 0,86 $ 2,79 $ 2,34 By resolution of the Company’s annual general meeting on May 12, 2011, the Company was authorized to conduct a share buy-back program to repurchase ordinary shares. The buy-back program commenced on May 20, 2013 and was completed on August 14, 2013 after 7,548,951 shares had been repurchased in the amount of €384,966 ($505,014). On February 16, 2016, the Company retired 6,549,000 of the repurchased shares from the buy-back program at an average weighted price of €51 per share ($57 per share on February 16, 2016). |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Commitments and Contingencies | 11 . Commitments and Contingencies Legal and Regulatory Matters The Company is routinely involved in 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 pending in various federal courts alleging wrongful death and personal injury claims against FMCH and certain of its affiliates relating to FMCH's acid c oncentrate 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. See , In Re: Fresenius Granuf lo / 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 cour ts 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 pati ents. In addition, similar cases have been filed in other state courts. On February 17, 2016, the Company reached with a committee of plaintiffs’ counsel and reported to the courts an agreement in principle for settlement of potentially all cases. The agre ement in principle calls for the Company to pay $250,000 into a settlement fund 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 mor e than 3% of all plaintiffs reject the settlement or the distribution of rejecters meet certain criteria. As subsequently amended with the courts’ approval as to the applicable timetable, plaintiffs must advise FMCH of acceptance of the settlement by Novem ber 7 , 2016 ; the Company has until November 15 , 2016 to exercise any rights to void the settlement; and payment of the settlement amount must be made in November 2016 if the settlement is confirmed. 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 and 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 a nticipated costs. Subsequent to the agreement in principle, the Company’s insurers in the AIG group initiated an action for declaratory judgment in New York state court advancing various arguments for reducing the amount of their coverage obligations. The Company filed an action in Massachusetts state court seeking to compel the AIG group carriers to honor their obligations under applicable policies, including reimbursement to the Company of litigation defense costs incurred before the agreement in principl e was reached. The affected carriers have confirmed that the coverage litigation does not impact their commitment to fund $220,000 of the settlement with plaintiffs. Certain of the complaints in the Granuflo ®/ Naturalyte ® 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 encompassing the European defendants. Four institutional plaintiffs 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, but seeking as remedy the repayment of sums paid to FMCH attributable to the Granuflo ®/ Naturalyte ® products. These cases implicate different legal standards, theories of liability and forms of potential recovery from those in the personal injury litigation and their c laims will not be extinguished by the personal injury litigation settlement described above. The four plaintiffs are the Attorneys General for the States of Kentucky, Louisiana and Mississippi and the commercial insurance company Blue Cross Blue Shield of Louisiana in its private capacity. See , State of Mississippi ex rel. Hood, v. Fresenius Medical Care Holdings, Inc., No. 14-cv-152 (Chancery Court, DeSoto County); State of Louisiana ex re. Caldwell and Louisiana Health Service & Indemnity Company v. Frese nius Medical Care Airline, 2016 Civ. 11035 (U.S.D.C. D. Mass.); Commonwealth of Kentucky ex rel. Beshear v. Fresenius Medical Care Holdings, Inc. et al., No. 16-CI-00946 (Circuit Court, Franklin County). Other Litigation and Potential Exposures On Februar y 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. See , United States ex rel. Chris Drennen v. Freseniu s Medical Care Holdings, Inc., 2009 Civ. 10179 (D. Mass.). The United States did not intervene initially in the case. The relator's complaint, which was first filed under seal in February 2009, alleged that the Company sought and received reimbursement fro m government payors for serum ferritin and multiple forms of hepatitis B laboratory tests that were medically unnecessary or not properly ordered 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 opposed the government’s motion to intervene, whi ch remains undecided. 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 Company’s acquisition of American Access Care LLC in October 2011 (“ AAC ”). The Company is cooperating in the government's inquiry, which is being managed by the United States Attorney for the Eastern District of New York. Allegations against AAC arising in districts in Connecticut, Florida and Rhode Island relating to utilization and invoicing were settled in 2015. The Company has received communications alleging conduct in countries outside the U.S. and Germany that may violate the 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 advised the U.S. Securities and Exchange Commission ("SEC") and the U.S. Department of Justice ("DOJ"). The Company's investigations and dialogue with the SEC and DOJ are ongoing. The Company is cooperating with the government investigations. Conduct has been identified that may re sult 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 accrua l for an identified matter. Given the current status of the investigations and remediation activities, 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 is implementing enhancements to its anti-corruption compliance program, including internal controls related to compliance with international anti-bribery laws. The Company continues to be fully committed to FCPA and other anti-bribery law compliance. 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 mana gement 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 alleging a conspiracy pursuant to which certain Liberty subsid iaries of FMCH overbilled Hawaii Medicaid for Liberty's Epogen ® administrations to Hawaii Medicaid patients during the period from 2006 through 2010, prior to the time of FMCH's acquisition of Liberty. See , Hawaii v. Liberty Dialysis – Hawaii, LLC et al., Case No. 15-1-1357-07 (Hawaii 1 st Circuit). The State alleges that Liberty acted unlawfully by relying on incorrect and unauthorized billing guidance provided to Liberty by Xerox State Healthcare LLC , which acted as Hawaii's contracted administrator for i ts Medicaid program reimbursement operations during the relevant period. The amount of the overpayment claimed by the State is approximately $8,000, but the State seeks civil remedies, interest, fines, and penalties against Liberty and FMCH under the Hawaii False Claims Act substantially in excess of the overpayment. FMCH filed third-party claims for contribution and indemnification against Xerox. The State’s False Claims Act complaint was filed after Liberty initiated an administrative action challenging the State’s recoupment of alleged overpayments from sums currently owed to Liberty. The administrative action is continuing. On August 31 and November 25, 2015, respectively, FMCH received subpoenas f rom 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 cooperating in the investi gations. On June 30, 2016, FMCH received a subpoena from the United States Attorney for the Northern District of Texas (Dallas) seeking information about the use and management of pharmaceuticals including Velphoro ® as well as FMCH’s interactions with DaVita He althcare Partners, Inc. The Company understands that the subpoena relates to an investigation previously disclosed by DaVita and that the investigation encompasses DaVita, Amgen, and Sanofi. FMCH is cooperating in the investigation. 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 i nsurance coverage and, as necessary, provides accruals for probable liabilities for the eventual disposition of these matters. The Company, like other healthcare providers, insurance plans and suppliers , conducts its operations under intense government re gulation 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 facilities, laboratories, dialysis cl inics and other health care facilities, 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 subject t o 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 whic h 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 co mparable 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 of the Company's products and/or criminal prosecution. FMCH is currently engaged in remediation efforts with respect to one pending FDA warning letter. The Company must also comply with the laws of the United States, including the federal Anti-Kickback Statute, the federal False Claims Act, the federal Stark Law, the federal Civil Monetary Penalties 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 enforceme nt agencies or courts may make interpretations 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 has begun, particularly in the case of whistleblower actions, which are initially filed under court seal. The Company operates many facilities and handles personal health information of its patients and beneficiaries throu ghout the United States and other parts of the world. In such a decentralized system, it is often difficult to maintain the desired level of oversight and control over the thousands of individuals employed by many affiliated companies. The Company relies u pon its management structure, regulatory and legal resources, and the effective operation of its compliance program to direct, manage and monitor the activities of these employees. On occasion, the Company may identify instances where employees or other ag ents deliberately, recklessly or inadvertently contravene the Company's policies or violate applicable law. The actions of such persons may subject the Company and its subsidiaries to liability under the Anti-Kickback Statute, the Stark Law, the False Clai ms Act, HYPERLINK "http://www.hhs.gov/hipaa/index.html" Health Insurance Portability and Accountability Act , the Health Information Technology for Economic and Clinical Health Act and the Foreign Corrupt Practices Act, among other laws and comparable l aws of other countries. Physicians, 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 and 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 hav e a material adverse effect upon 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 again st 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, asserted 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 op erations. 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 adjustments and disallowances of tax matters currently under review, the Company does 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 potential 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 | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Financial Instruments | 12 . 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 September 30 , 2016 , and December 31 , 2015 . September 30, December 31, 2016 2015 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Assets Cash and cash equivalents 1 $ 629.837 629.837 $ 549.500 549.500 Accounts receivable (1)(2) 2 3.804.550 3.804.550 3.521.741 3.521.741 Available for sale financial assets (3) 1 284.060 284.060 275.770 275.770 Liabilities Accounts payable (1) 2 785.384 785.384 780.851 780.851 Short-term debt (1) 2 820.132 820.186 128.304 128.304 Long-term debt, excluding Amended 2012 Credit Agreement, Senior Notes and convertible bonds 2 112.301 112.797 172.919 172.919 Amended 2012 Credit Agreement 2 2.439.158 2.432.360 2.611.580 2.625.591 Senior Notes 2 5.090.652 5.617.692 5.325.618 5.782.937 Convertible bonds 2 423.196 559.273 407.705 546.057 Noncontrolling interests subject to put provisions 3 1.216.801 1.216.801 1.023.755 1.023.755 (1) Also includes amounts from related parties. (2) Includes long-term accounts receivable, which are included in "Other assets" in the Consolidated Balance Sheets. (3) Available for sale financial assets are included in "Prepaid expenses and other current assets" and "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 and noncontrolling interests subject to put provisions , in the captions shown in Note 5 and Note 9 . 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 receivab le, 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 9 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 consid ers 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 contr ols 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 amount 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 t o offset the fair values of derivative financial instruments subject to master netting agreements in its Consolidated Balance Sheets. At September 30 , 2016 and December 31 , 2015 , the Company had $ 8.285 and $ 24.366 , respective ly, of derivative financial assets subject to netting arrangements and $ 27.189 and $ 12.765 , respectively, of derivative financial liabilities subject to netting arrangements. Offsetting these derivative financial instruments would have resulted in net assets of $ 3.488 and $ 16.273 as well as net liabilities of $ 22.392 and $ 4.672 at September 30 , 2016 and December 31 , 2015 , respectively. In connecti on 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. F oreign 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 posit ion as reported in its consolidated financial statements. Additionally, individual subsidiaries are exposed to t ransactional risks mainly resulting from intercompany purchases between production sites and other subsidiaries with different functional curre ncies. 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 e xposures the Company enters into foreign exchange forward contracts and, on a small scale, foreign exchange options. At September 30 , 2016 and December 31 , 2015 , the Company had no foreign exchange options. Changes in the fair value of the effective porti on 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 reclas sified into earnings as a component of cost of revenues for those contracts that hedge product purchases and sales or as an adjustment of interest income/expense for those contracts that hedge loans, in the same period in which the hedged transaction affec ts earnings. The notional amounts of foreign exchange contracts in place that are designated and qualify as cash flow hedges totaled $ 138.148 and $ 193.880 at September 30 , 2016 and December 31 , 2015 , respectively. The Company also enters int o 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 cases, the change in value of t he 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 $ 1.143.247 and $ 1.637.129 at September 30 , 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 rate options, to protect again st 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 fixed interest rate. The euro-d enominated interest rate swaps expire between 2016 and 2019 and have a weighted average interest rate of 0,72% . Interest payable and receivable under the swap agreements is accrued and recorded as an adjustment to interest expense. At September 30 , 2016 and December 31 , 2015 , the notional amount of the euro-denominated interest rate swaps in place was € 358.000 and € 376.000 ( $ 399.564 and $ 409.351 at September 30 , 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 rat es 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 settlement amount recorded in AO CI amortized to interest expense over the life of the debt. At September 30 , 2016 and December 31 , 2015 , the Company had $ 45.118 and $ 58.581 , respectively, related to such settlements of pre-hedges deferred in AOCI, net of tax. Derivative Financial Instruments Valuation The following table shows the carrying amounts of the Company’s d erivatives at September 30 , 2016 and December 31 , 2015 . September 30, 2016 December 31, 2015 Assets (2) Liabilities (2) Assets (2) Liabilities (2) Derivatives in cash flow hedging relationships (1) Current Foreign exchange contracts 2.228 (1.965) 3.114 (2.921) Interest rate contracts - (107) - (1.637) Non-current Foreign exchange contracts 668 (165) 171 (127) Interest rate contracts - (1.987) - (961) Total $ 2.896 $ (4.224) $ 3.285 $ (5.646) Derivatives not designated as hedging instruments (1) Current Foreign exchange contracts 9.641 (22.969) 23.908 (7.056) Non-current Foreign exchange contracts - (656) 1.062 (65) Derivatives embedded in the convertible bonds - (105.664) - (115.990) Share options to secure the convertible bonds 105.664 - 115.990 - Total $ 115.305 $ (129.289) $ 140.960 $ (123.111) (1) At September 30, 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. The carrying amounts for the current portion of derivatives indicated as assets in the table above are included in Prepaid expenses and other current assets in the Consolidated Balance Sheets while the current portion of those indicated as liabilities are included in Accrued expenses and other current liabilities. The non-current portions indicated as assets or liabilities ar e included in the Consolidated Balance Sheets in Other assets or Other liabilities, respectively. The significant methods and assumptions used in estimating the fair values of derivative financial instruments are as follows: The fair value of interest rate swaps is calculated by discounting the future cash flows on the basis of the market interest rates applicable for the remaining term of the contract as of the balance sheet date. To determine the fair value of foreign exchange forward contracts, the contr acted forward rate is compared to the current forward rate for the remaining term of the contract as of the balance sheet date. The result is then discounted on the basis of the market interest rates prevailing at the balance sheet date for the applicable currency. The fair value of the embedded derivative of the convertible bonds is calculated using the difference between the market value of the convertible bond and the market value of an adequate straight bond discounted with the market interest rates as of the reporting date. The Company’s own credit risk is incorporated in the fair value estimation of derivatives that are liabilities. Counterparty credit risk adjustments are factored into the valuation of derivatives that are assets. The Company monitors and analyses the credit risk from derivative financial instruments on a regular basis. For the valuation of derivative financial instruments, the credit risk is considered in the fair value of every individual instrument. The default probability is based upon the Credit Default Swap Spreads of each counterparty appropriate for the duration. The calculation of the credit risk considered in the valuation is performed by multiplying the default probability appropriate for the duration with the expected discou nted cash flows of the derivative financial instrument. The 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 nine months ended September 30, for the nine months ended September 30, 2016 2015 (Effective Portion) 2016 2015 Interest rate contracts $ 800 $ 8.168 Interest income/expense $ 18.581 $ 21.675 Foreign exchange contracts 1.394 (2.528) Costs of Revenue (387) 16.256 $ 2.194 $ 5.640 $ 18.194 $ 37.931 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 nine months ended September 30, 2016 2015 Foreign exchange contracts Selling, general and administrative expense $ 27.586 $ (48.552) Foreign exchange contracts Interest income/expense 3.472 8.555 Derivatives embedded in the convertible bonds Interest income/expense (13.246) 42.655 Share options to secure the convertible bonds Interest income/expense 13.246 (42.655) $ 31.058 $ (39.997) For foreign exchange derivatives at September 30 , 2016 , the Company expects to recognize $ 1.232 of losses deferred in AOCI in earnings during the next twelve months. The Company expects to incur additional interest expense of $ 21.886 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 addition al interest payments resulting from the interest rat e swaps maturing between 2016 and 2019 at September 30 , 2016 . At September 30 , 2016 , the Company had foreign exchange derivatives with maturities of up to 18 months and interest rate swaps with maturities of up to 37 months. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Other Comprehensive Income (Loss) | 13 . Other Comprehensive Income (Loss) The c hanges in the components of other comprehensive income (loss) for the nine months ended September 30 , 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 3.542 - (247.256) (243.714) (3.692) (247.406) Amounts reclassified from AOCI 27.517 16.347 - 43.864 - 43.864 Other comprehensive income (loss) after reclassifications 31.059 16.347 (247.256) (199.850) (3.692) (203.542) Balance at September 30, 2015 $ (72.218) $ (265.672) $ (949.703) $ (1.287.593) $ (8.953) $ (1.296.546) 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 1.386 - 131.202 132.588 3.963 136.551 Amounts reclassified from AOCI 13.006 14.526 - 27.532 - 27.532 Other comprehensive income (loss) after reclassifications 14.392 14.526 131.202 160.120 3.963 164.083 Balance at September 30, 2016 $ (45.822) $ (210.565) $ (919.788) $ (1.176.175) $ (6.259) $ (1.182.434) Reclassifications out of AOCI for the nine months ended September 30 , 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 $ 18.581 $ 21.675 Interest income/expense Foreign exchange contracts (387) 16.256 Costs of Revenue 18.194 37.931 Total before tax (5.188) (10.414) Tax expense or benefit $ 13.006 $ 27.517 Net of tax Actuarial (Gain) Loss on defined benefit pension plans Amortization of unrealized (gain) loss 23.053 25.995 (1) 23.053 25.995 Total before tax (8.527) (9.648) Tax expense or benefit $ 14.526 $ 16.347 Net of tax Total reclassifications for the period $ 27.532 $ 43.864 Net of tax (1) Included in the computation of net periodic pension cost (see Note 8 for additional details). |
Business Segment Information
Business Segment Information | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Business Segment Information | 14 . 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 a t Corporate. Information pertaining to the Company’s segment and Corporate activities for the three and nine months ended September 30 , 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 September 30, 2016 Revenue external customers $ 3.300.374 $ 675.331 $ 427.224 $ 191.670 $ 4.594.599 $ 3.642 $ 4.598.241 Inter - segment revenue 888 - 8 50 946 (946) - Revenue 3.301.262 675.331 427.232 191.720 4.595.545 2.696 4.598.241 Operating income 536.187 125.240 84.703 20.032 766.162 (96.220) 669.942 Depreciation and amortization (108.460) (30.636) (12.474) (4.663) (156.233) (40.358) (196.591) Income (loss) from equity method investees 26.164 1.200 1.163 504 29.031 - 29.031 Capital expenditures, acquisitions and investments 192.340 41.881 20.627 13.714 268.562 55.701 324.263 Three months ended September 30, 2015 Revenue external customers $ 3.012.532 $ 658.875 $ 377.981 $ 175.573 $ 4.224.961 $ 6.390 $ 4.231.351 Inter - segment revenue 1.646 - 2 148 1.796 (1.796) - Revenue 3.014.178 658.875 377.983 175.721 4.226.757 4.594 4.231.351 Operating income 515.465 129.822 67.552 (8.170) 704.669 (91.139) 613.530 Depreciation and amortization (100.842) (28.207) (11.070) (2.326) (142.445) (37.393) (179.838) Income (loss) from equity method investees 6.873 1.101 652 411 9.037 - 9.037 Capital expenditures, acquisitions and investments 140.126 53.235 9.530 14.144 217.035 77.667 294.702 Nine months ended September 30, 2016 Net revenue external customers $ 9.511.885 $ 1.982.453 $ 1.198.315 $ 519.888 $ 13.212.541 $ 11.517 $ 13.224.058 Inter - segment revenue 3.024 - 18 148 3.190 (3.190) - Revenue 9.514.909 1.982.453 1.198.333 520.036 13.215.731 8.327 13.224.058 Operating Income 1.485.502 394.583 224.671 47.178 2.151.934 (300.611) 1.851.323 Depreciation and amortization (317.674) (89.816) (36.073) (12.511) (456.074) (116.509) (572.583) Income (loss) from equity method investees 57.103 1.859 936 1.175 61.073 - 61.073 Total assets 17.998.260 3.669.248 1.956.653 751.451 24.375.612 2.282.873 26.658.485 thereof investments in equity method investees 330.686 238.947 112.555 27.626 709.814 - 709.814 Capital expenditures, acquisitions and investments (1) 741.879 145.651 38.482 29.532 955.544 179.066 1.134.610 Nine months ended September 30, 2015 Net revenue external customers $ 8.729.595 $ 1.955.537 $ 1.107.119 $ 576.145 $ 12.368.396 $ 21.618 $ 12.390.014 Inter - segment revenue 4.472 - 20 392 4.884 (4.884) - Revenue 8.734.067 1.955.537 1.107.139 576.537 12.373.280 16.734 12.390.014 Operating Income 1.283.782 405.320 219.098 25.398 1.933.598 (268.705) 1.664.893 Depreciation and amortization (298.911) (85.349) (33.505) (11.375) (429.140) (107.511) (536.651) Income (loss) from equity method investees 15.383 3.983 1.848 824 22.038 - 22.038 Total assets (2),(3) 16.944.472 3.437.731 1.752.893 616.199 22.751.295 2.400.678 25.151.973 thereof investments in equity method investees 291.323 238.542 111.784 26.050 667.699 - 667.699 Capital expenditures, acquisitions and investments (4) 427.529 125.419 33.465 25.045 611.458 201.586 813.044 (1) North America, EMEA, Latin America and Asia Pacific acquisitions exclude $9,130, $91,813, $4,999 and $4,860 respectively of non-cash acquisitions for 2016. (2) At September 30, 2015 debt issuance costs in the amount of $53,156 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 September 30, 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 $242,169 and $34,671, respectively. As a result of deferred tax netting, noncurrent assets and liabilities were then adjusted in the amount of $209,094. (4) North America, EMEA, Asia-Pacific, Latin America and Corporate acquisitions and investments exclude $2,600, $21,195, $36,273, $246 and $7,926, respectively, of non-cash acquisitions and investments for 2015. |
Supplementary Cash Flow Informa
Supplementary Cash Flow Information | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Cash Flow Supplemental Disclosures [Text Block] | 15 . Supplementary Cash Flow Information The following additional information i s provided with respect to the Consolidated Statements of Cash F lows: For the nine months ended September 30, 2016 2015 Supplementary cash flow information: Cash paid for interest $ 345.892 $ 341.496 Cash paid for income taxes (1) $ 502.163 $ 372.711 Cash inflow for income taxes from stock option exercises (2) $ 8.469 $ 13.859 Supplemental disclosures of cash flow information: Details for acquisitions: Assets acquired $ (465.121) $ (159.535) Liabilities assumed 67.378 35.233 Noncontrolling interest subject to put provisions 43.897 8.358 Noncontrolling interest 15.119 956 Non-cash consideration 79.993 49.324 Cash paid (258.734) (65.664) Less cash acquired 15.377 3.316 Net cash paid for acquisitions (243.357) (62.348) Cash paid for investments (133.844) (78.372) Cash paid for intangible assets (9.767) (24.974) Total cash paid for acquisitions and investments, net of cash acquired, and purchases of intangible assets $ (386.968) $ (165.694) (1) Net of tax refund. (2) Thereof the excess tax benefit allocated to additional paid-in capital for the nine months ended September 30, 2016 and 2015 was $6,254 and $10,456, respectively. |
Supplemental Condensed Combinin
Supplemental Condensed Combining Information | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Consolidated Financial Statements [Abstract] | |
Supplemental Condensed Combining Information | 16 . 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 September 30 , 2016 and December 31 , 2015 and its results of operations and cash flows for the nine-months periods ended September 30 , 2016 and 2015 . The following combining financial information fo r the Company is at September 30 , 2016 and December 31 , 2015 and for the nine-months periods ended September 30 , 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 nine months ended September 30, 2016 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 1.423.176 $ - $ 14.219.979 $ (2.419.097) $ 13.224.058 Cost of revenue - - 903.280 - 10.531.770 (2.398.829) 9.036.221 Gross profit - - 519.896 - 3.688.209 (20.268) 4.187.837 Operating expenses (income): Selling, general and administrative (1) - 147.631 159.567 (37.729) 1.937.593 9.316 2.216.378 Research and development - - 66.232 - 53.904 - 120.136 Operating (loss) income - (147.631) 294.097 37.729 1.696.712 (29.584) 1.851.323 Other (income) expense: Interest, net (5.344) 140.489 (2.921) 174.012 1.569 - 307.805 Other, net - (1.173.243) 200.639 (674.201) - 1.646.805 - Income (loss) before income taxes 5.344 885.123 96.379 537.918 1.695.143 (1.676.389) 1.543.518 Income tax expense (benefit) 1.939 29.979 87.829 (53.764) 629.058 (224.108) 470.933 Net Income (loss) 3.405 855.144 8.550 591.682 1.066.085 (1.452.281) 1.072.585 Net Income attributable to noncontrolling interests - - - - 217.441 - 217.441 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 848.644 $ (1.452.281) $ 855.144 (1) Selling, general and administrative is presented net of income from equity method investees. For the nine months ended September 30, 2015 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 1.391.965 $ - $ 13.234.250 $ (2.236.201) $ 12.390.014 Cost of revenue - - 893.319 - 9.870.460 (2.236.844) 8.526.935 Gross profit - - 498.646 - 3.363.790 643 3.863.079 Operating expenses (income): Selling, general and administrative (1) - 141.963 148.544 170.985 1.629.919 6.415 2.097.826 Research and development - - 53.941 - 46.419 - 100.360 Operating (loss) income - (141.963) 296.161 (170.985) 1.687.452 (5.772) 1.664.893 Other (income) expense: Interest, net (5.236) 153.670 (3.182) 170.360 (12.112) 11 303.511 Other, net - (1.015.723) 201.874 (598.506) - 1.412.355 - Income (loss) before income taxes 5.236 720.090 97.469 257.161 1.699.564 (1.418.138) 1.361.382 Income tax expense (benefit) 1.900 7.454 89.153 (134.661) 639.635 (161.814) 441.667 Net Income (loss) 3.336 712.636 8.316 391.822 1.059.929 (1.256.324) 919.715 Net Income attributable to noncontrolling interests - - - - 207.079 - 207.079 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 852.850 $ (1.256.324) $ 712.636 (1) Selling, general and administrative is presented net of income from equity method investees. For the nine months ended September 30, 2015 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 1.391.965 $ - $ 13.234.250 $ (2.236.201) $ 12.390.014 Cost of revenue - - 893.319 - 9.870.460 (2.236.844) 8.526.935 Gross profit - - 498.646 - 3.363.790 643 3.863.079 Operating expenses (income): Selling, general and administrative (1) - 141.963 148.544 170.985 1.629.919 6.415 2.097.826 Research and development - - 53.941 - 46.419 - 100.360 Operating (loss) income - (141.963) 296.161 (170.985) 1.687.452 (5.772) 1.664.893 Other (income) expense: Interest, net (5.236) 153.670 (3.182) 170.360 (12.112) 11 303.511 Other, net - (1.015.723) 201.874 (598.506) - 1.412.355 - Income (loss) before income taxes 5.236 720.090 97.469 257.161 1.699.564 (1.418.138) 1.361.382 Income tax expense (benefit) 1.900 7.454 89.153 (134.661) 639.635 (161.814) 441.667 Net Income (loss) 3.336 712.636 8.316 391.822 1.059.929 (1.256.324) 919.715 Net Income attributable to noncontrolling interests - - - - 207.079 - 207.079 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 852.850 $ (1.256.324) $ 712.636 (1) Selling, general and administrative is presented net of income from equity method investees. For the nine months ended September 30, 2016 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 1.066.085 $ (1.452.281) $ 1.072.585 Gain (loss) related to cash flow hedges - 19.381 2.177 - (1.170) - 20.388 Actuarial gain (loss) on defined benefit pension plans - 301 5.097 17.185 470 - 23.053 Gain (loss) related to foreign currency translation - (78.627) 14.487 - 203.456 (4.151) 135.165 Income tax (expense) benefit related to components of other comprehensive income - (5.660) (2.159) (6.780) 76 - (14.523) Other comprehensive income (loss), net of tax - (64.605) 19.602 10.405 202.832 (4.151) 164.083 Total comprehensive income $ 3.405 $ 790.539 $ 28.152 $ 602.087 $ 1.268.917 $ (1.456.432) $ 1.236.668 Comprehensive income attributable to noncontrolling interests - - - - - 221.404 221.404 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 3.405 $ 790.539 $ 28.152 $ 602.087 $ 1.268.917 $ (1.677.836) $ 1.015.264 For the nine months ended September 30, 2015 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 1.059.929 $ (1.256.324) $ 919.715 Gain (loss) related to cash flow hedges - 29.944 - - 13.627 - 43.571 Actuarial gain (loss) on defined benefit pension plans - 296 5.360 19.800 539 - 25.995 Gain (loss) related to foreign currency translation - (118.003) (47.431) - (101.599) 16.085 (250.948) Income tax (expense) benefit related to components of other comprehensive income - (8.685) (1.588) (7.811) (4.076) - (22.160) Other comprehensive income (loss), net of tax - (96.448) (43.659) 11.989 (91.509) 16.085 (203.542) Total comprehensive income $ 3.336 $ 616.188 $ (35.343) $ 403.811 $ 968.420 $ (1.240.239) $ 716.173 Comprehensive income attributable to noncontrolling interests - - - - - 203.387 203.387 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 3.336 $ 616.188 $ (35.343) $ 403.811 $ 968.420 $ (1.443.626) $ 512.786 At September 30, 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 $ 13 $ 330 $ - $ 902.807 $ (273.314) $ 629.837 Trade accounts receivable, less allowance for doubtful accounts - - 168.590 - 3.452.640 (676) 3.620.554 Accounts receivable from related parties 1.248.414 1.167.351 884.668 2.390.002 3.621.964 (9.140.936) 171.463 Inventories - - 267.842 - 1.311.012 (172.260) 1.406.594 Prepaid expenses and other current assets - 66.220 75.468 33 1.207.397 40.832 1.389.950 Total current assets 1.248.415 1.233.584 1.396.898 2.390.035 10.495.820 (9.546.354) 7.218.398 Property, plant and equipment, net - 613 288.195 - 3.552.565 (106.745) 3.734.628 Intangible assets - 1.247 48.614 - 768.871 (78) 818.654 Goodwill - - 54.717 - 13.433.194 - 13.487.911 Deferred taxes - 112.580 32.885 - 176.160 (128.390) 193.235 Other assets (1) - 14.866.993 45.046 13.843.126 6.297.842 (33.847.348) 1.205.659 Total assets $ 1.248.415 $ 16.215.017 $ 1.866.355 $ 16.233.161 $ 34.724.452 $ (43.628.915) $ 26.658.485 Current liabilities: Accounts payable $ - $ 1.107 $ 27.291 $ - $ 499.026 $ - $ 527.424 Accounts payable to related parties - 265.389 708.475 1.652.439 5.952.752 (8.321.095) 257.960 Accrued expenses and other current liabilities 11.833 75.545 146.480 11.001 2.387.799 (1.379) 2.631.279 Short-term debt - 888.797 - - 107.445 (274.996) 721.246 Short-term debt from related parties - 1.175.644 - - - (1.076.758) 98.886 Current portion of long-term debt and capital lease obligations 503.904 26.786 1.294 200.000 159.315 - 891.299 Income tax payable - 12.199 - - 105.365 8.152 125.716 Total current liabilities 515.737 2.445.467 883.540 1.863.440 9.211.702 (9.666.076) 5.253.810 Long term debt and capital lease obligations, less current portion 650.000 669.194 4.597 1.947.776 6.398.359 (2.495.918) 7.174.008 Long term debt from related parties - 2.333.897 - 2.721.696 - (5.055.593) - Other liabilities - 109.224 1.441 423.440 (24.402) 36.018 545.721 Pension liabilities - 16.923 338.854 - 189.226 (30.523) 514.480 Income tax payable 890 48.729 - - (11.975) 90.753 128.397 Deferred taxes - - - - 617.044 (35.323) 581.721 Total liabilities 1.166.627 5.623.434 1.228.432 6.956.352 16.379.954 (17.156.662) 14.198.137 Noncontrolling interests subject to put provisions and other temporary equity - - 0 - 1.222.643 - 1.222.643 Redeemable Preferred Stock - - - 235.141 (235.141) - - Total FMC-AG & Co. KGaA shareholders' equity 81.788 10.591.583 637.923 9.041.668 16.710.874 (26.472.253) 10.591.583 Noncontrolling interests not subject to put provisions - - - - 646.122 - 646.122 Total equity 81.788 10.591.583 637.923 9.041.668 17.356.996 (26.472.253) 11.237.705 Total liabilities and equity $ 1.248.415 $ 16.215.017 $ 1.866.355 $ 16.233.161 $ 34.724.452 $ (43.628.915) $ 26.658.485 (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 nine months ended September 30, 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) $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 1.066.085 $ (1.452.281) $ 1.072.585 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (741.148) - (674.201) - 1.415.349 - Depreciation and amortization - 636 44.369 - 549.971 (22.393) 572.583 Change in deferred taxes, net - (25.391) (7.077) - (17.762) (4.669) (54.899) (Gain) loss on sale of fixed assets and investments - (28) 23 - (3.090) - (3.095) (Write Up) write-off loans from related parties - (415) (5.395) - - 5.810 - Compensation expense related to stock options - 23.096 - - 3.212 - 26.308 Investments in equity method investees, net - - - - (55.749) - (55.749) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (20.860) - (250.528) 1.430 (269.958) Inventories - - (28.968) - (36.090) 19.870 (45.188) Prepaid expenses and other current and non-current assets - 73.101 (12.702) 34.698 (64.362) 2.107 32.842 Accounts receivable from / payable to related parties 19.596 (881.407) 215.007 101.964 552.320 74.271 81.751 Accounts payable, accrued expenses and other current and non-current liabilities (17.937) (4.439) 50.258 (4.526) (89.152) 2.521 (63.275) Income tax payable 89 27.308 - (53.764) 60.780 (32.002) 2.411 Net cash provided by (used in) operating activities 5.153 (673.543) 243.205 (4.147) 1.715.635 10.013 1.296.316 Investing Activities: Purchases of property, plant and equipment - (237) (59.105) - (711.376) 23.076 (747.642) Proceeds from sale of property, plant and equipment - 73 307 - 13.206 - 13.586 Disbursement of loans to related parties - 183.821 - 301.151 - (484.972) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (26.392) (271) - (386.684) 26.379 (386.968) Proceeds from divestitures - 80.037 - - 175.221 (62.123) 193.135 Net cash provided by (used in) investing activities - 237.302 (59.069) 301.151 (909.633) (497.640) (927.889) Financing Activities: Short-term borrowings, net - 690.092 (189.244) - 453.081 (274.996) 678.933 Long-term debt and capital lease obligations, net (5.154) (20.092) 256 (297.004) (715.798) 484.972 (552.820) Increase (decrease) of accounts receivable securitization program - - - - (51.000) - (51.000) Proceeds from exercise of stock options - 39.433 - - 7.089 - 46.522 Dividends paid - (277.176) - - (17.222) 17.222 (277.176) Capital increase (decrease) - - - - 12.437 (12.437) - Distributions to noncontrolling interest - - - - (234.742) - (234.742) Contributions from noncontrolling interest - - - - 72.462 - 72.462 Net cash provided by (used in) financing activities (5.154) 432.257 (188.988) (297.004) (473.693) 214.761 (317.821) Effect of exchange rate changes on cash and cash equivalents - 3.549 127 - 26.055 - 29.731 Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (435) (4.725) - 358.364 (272.866) 80.337 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 $ 13 $ 330 $ - $ 902.807 $ (273.314) $ 629.837 For the nine months ended September 30, 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) $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 1.066.085 $ (1.452.281) $ 1.072.585 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (741.148) - (674.201) - 1.415.349 - Depreciation and amortization - 636 44.369 - 549.971 (22.393) 572.583 Change in deferred taxes, net - (25.391) (7.077) - (17.762) (4.669) (54.899) (Gain) loss on sale of fixed assets and investments - (28) 23 - (3.090) - (3.095) (Write Up) write-off loans from related parties - (415) (5.395) - - 5.810 - Compensation expense related to stock options - 23.096 - - 3.212 - 26.308 Investments in equity method investees, net - - - - (55.749) - (55.749) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (20.860) - (250.528) 1.430 (269.958) Inventories - - (28.968) - (36.090) 19.870 (45.188) Prepaid expenses and other current and non-current assets - 73.101 (12.702) 34.698 (64.362) 2.107 32.842 Accounts receivable from / payable to related parties 19.596 (881.407) 215.007 101.964 552.320 74.271 81.751 Accounts payable, accrued expenses and other current and non-current liabilities (17.937) (4.439) 50.258 (4.526) (89.152) 2.521 (63.275) Income tax payable 89 27.308 - (53.764) 60.780 (32.002) 2.411 Net cash provided by (used in) operating activities 5.153 (673.543) 243.205 (4.147) 1.715.635 10.013 1.296.316 Investing Activities: Purchases of property, plant and equipment - (237) (59.105) - (711.376) 23.076 (747.642) Proceeds from sale of property, plant and equipment - 73 307 - 13.206 - 13.586 Disbursement of loans to related parties - 183.821 - 301.151 - (484.972) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (26.392) (271) - (386.684) 26.379 (386.968) Proceeds from divestitures - 80.037 - - 175.221 (62.123) 193.135 Net cash provided by (used in) investing activities - 237.302 (59.069) 301.151 (909.633) (497.640) (927.889) Financing Activities: Short-term borrowings, net - 690.092 (189.244) - 453.081 (274.996) 678.933 Long-term debt and capital lease obligations, net (5.154) (20.092) 256 (297.004) (715.798) 484.972 (552.820) Increase (decrease) of accounts receivable securitization program - - - - (51.000) - (51.000) Proceeds from exercise of stock options - 39.433 - - 7.089 - 46.522 Dividends paid - (277.176) - - (17.222) 17.222 (277.176) Capital increase (decrease) - - - - 12.437 (12.437) - Distributions to noncontrolling interest - - - - (234.742) - (234.742) Contributions from noncontrolling interest - - - - 72.462 - 72.462 Net cash provided by (used in) financing activities (5.154) 432.257 (188.988) (297.004) (473.693) 214.761 (317.821) Effect of exchange rate changes on cash and cash equivalents - 3.549 127 - 26.055 - 29.731 Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (435) (4.725) - 358.364 (272.866) 80.337 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 $ 13 $ 330 $ - $ 902.807 $ (273.314) $ 629.837 For the nine months ended September 30, 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) $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 1.059.929 $ (1.256.324) $ 919.715 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (612.421) - (598.506) - 1.210.927 - Depreciation and amortization - 410 37.935 - 477.116 21.190 536.651 Change in deferred taxes, net - (23.269) 415 - (77.168) (3.181) (103.203) (Gain) loss on sale of fixed assets and investments - (12) (81) - (5.084) - (5.177) Compensation expense related to stock options - 2.395 - - 3.507 - 5.902 Investments in equity method investees, net - 5.560 - - (16.282) - (10.722) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (22.366) - (251.675) 704 (273.337) Inventories - - (17.353) - (254.165) 5.923 (265.595) Prepaid expenses and other current and non-current assets - 39.897 (34.412) 173.705 105.446 82 284.718 Accounts receivable from / payable to related parties 19.611 396.217 (184.948) 145.164 (303.029) 28.657 101.672 Accounts payable, accrued expenses and other current and non-current liabilities (17.939) 39.904 48.169 (1.071) 179.666 (1.111) 247.618 Income tax payable 80 (7.615) - (134.661) 97.808 17.870 (26.518) Net cash provided by (used in) operating activities 5.088 553.702 (164.325) (23.547) 1.016.069 24.737 1.411.724 Investing Activities: Purchases of property, plant and equipment - (181) (60.096) - (560.929) (26.144) (647.350) Proceeds from sale of property, plant and equipment - 26 322 - 10.819 - 11.167 Disbursement of loans to related parties - (314.328) - 275.700 - 38.628 - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (76.823) (572) - (132.688) 44.389 (165.694) Proceeds from divestitures - 20.652 - - 42.513 (20.652) 42.513 Net cash provided by (used in) investing activities - (370.654) (60.346) 275.700 (640.285) 36.221 (759.364) Financing Activities: Short-term borrowings, net - 64.992 225.488 - (250.724) (5.961) 33.795 Long-term debt and capital lease obligations, net (5.088) (20.001) - (252.153) 57.149 (38.628) (258.721) Increase (decrease) of accounts receivable securitization program - - - - (45.750) - (45.750) Proceeds from exercise of stock options - 53.375 - - 13.859 - 67.234 Dividends paid - (263.244) - - - - (263.244) Capital increase (decrease) - - - - 22.330 (22.330) - Distributions to noncontrolling interest - - - - (201.884) - (201.884) Contributions from noncontrolling interest - - - - 34.299 - 34.299 Net cash provided by (used in) financing activities (5.088) (164.878) 225.488 (252.153) (370.721) (66.919) (634.271) Effect of exchange rate changes on cash and cash equivalents - (18.271) (437) - (11.859) - (30.567) Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents 0 (101) 380 - (6.796) (5.961) (12.478) Cash and cash equivalents at beginning of period 1 117 5.722 - 628.015 - 633.855 Cash and cash equivalents at end of period $ 1 $ 16 $ 6.102 $ - $ 621.219 $ (5.961) $ 621.377 |
Related Party (Tables)
Related Party (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Related Party (Tables) [Abstract] | |
Related Party Disclosure Tables [Text Block] | Service Agreements, Lease Agreements and Products For the nine months ended September 30, 2016 For the nine months ended September 30, 2015 September 30, 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 156 16.864 145 14.550 337 5.922 422 3.185 Fresenius SE affiliates 2.694 62.164 5.557 56.818 735 2.386 2.104 4.079 Equity method investees 14.150 - 16.392 - 847 - 10.180 - Total $ 17.000 $ 79.028 $ 22.094 $ 71.368 $ 1.919 $ 8.308 $ 12.706 $ 7.264 Lease Agreements Fresenius SE - 7.869 - 7.161 - - - - Fresenius SE affiliates - 11.396 - 10.967 - - - - Total $ - $ 19.265 $ - $ 18.128 $ - $ - $ - $ - Products Fresenius SE 2 - 5 - - - - - Fresenius SE affiliates 19.365 35.999 19.957 27.675 9.428 4.127 8.774 3.768 Equity method investees - 326.401 - 168.287 - 85.481 - 8.253 Total $ 19.367 $ 362.400 $ 19.962 $ 195.962 $ 9.428 $ 89.608 $ 8.774 $ 12.021 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Inventories (Tables) [Abstract] | |
Inventory Disclosure Tables [Text Block] | September 30, December 31, 2016 2015 Finished goods $ 733.183 $ 670.291 Health care supplies 357.778 395.342 Raw materials and purchased components 232.561 206.525 Work in process 83.072 68.593 Inventories $ 1.406.594 $ 1.340.751 |
Short-term Borrowings, Other Fi
Short-term Borrowings, Other Finanacial Liabilties and Short-term Borrowings from Related Parties (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Short Term Debt (Tables) [Abstract] | |
Schedule of Short-term debt | September 30, December 31, 2016 2015 Borrowings under lines of credit $ 99.074 $ 109.230 Commercial Paper Program 613.801 - Other financial liabilities 8.371 22 Short-term debt $ 721.246 $ 109.252 Short-term debt from related parties (see Note 2.b) 98.886 19.052 Short-term debt and short-term debt from related parties $ 820.132 $ 128.304 |
Long-term Debt and Capital Le26
Long-term Debt and Capital Lease Obligations (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Long Term Debt and Capital Lease Obligations (Tables) [Abstract] | |
Schedule of long-term debt | September 30, December 31, 2016 2015 Amended 2012 Credit Agreement $ 2.439.158 $ 2.611.580 Senior Notes 5.090.652 5.325.618 Equity-neutral convertible bonds 423.196 407.705 Accounts Receivable Facility - 50.185 Capital lease obligations 48.500 40.621 Other 63.801 82.113 Long-term debt and capital lease obligations $ 8.065.307 $ 8.517.822 Less current portion (891.299) (664.335) Long-term debt and capital lease obligations, less current portion $ 7.174.008 $ 7.853.487 |
2006 Senior Credit Agreement Table | Maximum Amount Available Balance Outstanding September 30, 2016 September 30, 2016 (1) Revolving Credit USD $ 1.000.000 $ 1.000.000 $ 12.523 $ 12.523 Revolving Credit EUR € 400.000 $ 446.440 € - $ - USD Term Loan $ 2.150.000 $ 2.150.000 $ 2.150.000 $ 2.150.000 EUR Term Loan € 258.000 $ 287.954 € 258.000 $ 287.954 $ 3.884.394 $ 2.450.477 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) September 30, December 31, September 30, 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) | 9 Months Ended |
Sep. 30, 2016 | |
Employee Benefit Plans (Tables) [Abstract] | |
Schedule of the components of net periodic benefit cost | For the three months ended September 30, For the nine months ended September 30, 2016 2015 2016 2015 Components of net periodic benefit cost: Service cost $ 4.746 $ 6.243 $ 18.430 $ 18.764 Interest cost 7.289 6.949 21.864 20.864 Expected return on plan assets (3.870) (4.100) (11.610) (12.302) Amortization of unrealized losses 7.715 8.660 23.141 25.995 Amortization of prior service cost (29) - (88) - Net periodic benefit costs $ 15.851 $ 17.752 $ 51.737 $ 53.321 |
Noncontrolling Interests Subj28
Noncontrolling Interests Subject To Put Provisions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Noncontrolling Interests Subject To Put Provisions (Tables) [Abstract] | |
Noncontrolling Interests Subject to Put Provisions | September 30, 2016 December 31, 2015 Beginning balance as of January 1, $ 1.023.755 $ 824.658 Contributions to noncontrolling interests (133.511) (164.830) Purchase/ sale of noncontrolling interests 50.699 7.915 Contributions from noncontrolling interests 30.298 16.749 Expiration of put provisions and other reclassifications (3.917) 5.206 Changes in fair value of noncontrolling interests 115.325 178.003 Net income 133.267 159.127 Other comprehensive income (loss) 885 (3.073) Ending balance as of September 30, 2016 and December 31, 2015 $ 1.216.801 $ 1.023.755 |
Sources Of Revenue (Tables)
Sources Of Revenue (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Patient Service Revenues by Payor | |
Patient Service Revenue | 2016 2015 Medicare program $ 3.991.859 $ 3.759.692 Private/alternative payors 3.971.847 3.574.919 Medicaid and other government sources 465.610 398.912 Hospitals 750.233 673.721 Total patient service revenue $ 9.179.549 $ 8.407.244 |
Earning Per Share (Tables)
Earning Per Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share (Tables) [Abstract] | |
Schedule of Earning per Share | For the three months ended September 30, For the nine months ended September 30, 2016 2015 2016 2015 Numerator: Net income attributable to shareholders of FMC-AG & Co. KGaA $ 333.178 $ 262.320 $ 855.144 $ 712.636 Denominators: Weighted average number of Ordinary shares outstanding 305.972.432 304.738.291 305.602.983 304.201.787 Potentially dilutive Ordinary shares 531.891 450.218 452.247 454.573 Total weighted average Ordinary shares outstanding assuming dilution 306.504.323 305.188.509 306.055.230 304.656.360 Basic earnings per share $ 1,09 $ 0,86 $ 2,80 $ 2,34 Fully diluted earnings per share $ 1,09 $ 0,86 $ 2,79 $ 2,34 |
Financial Instrument (Tables)
Financial Instrument (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Financial Instruments (Tables) [Abstract] | |
Non-Derivative Financial Instruments | September 30, December 31, 2016 2015 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Assets Cash and cash equivalents 1 $ 629.837 629.837 $ 549.500 549.500 Accounts receivable (1)(2) 2 3.804.550 3.804.550 3.521.741 3.521.741 Available for sale financial assets (3) 1 284.060 284.060 275.770 275.770 Liabilities Accounts payable (1) 2 785.384 785.384 780.851 780.851 Short-term debt (1) 2 820.132 820.186 128.304 128.304 Long-term debt, excluding Amended 2012 Credit Agreement, Senior Notes and convertible bonds 2 112.301 112.797 172.919 172.919 Amended 2012 Credit Agreement 2 2.439.158 2.432.360 2.611.580 2.625.591 Senior Notes 2 5.090.652 5.617.692 5.325.618 5.782.937 Convertible bonds 2 423.196 559.273 407.705 546.057 Noncontrolling interests subject to put provisions 3 1.216.801 1.216.801 1.023.755 1.023.755 (1) Also includes amounts from related parties. (2) Includes long-term accounts receivable, which are included in "Other assets" in the Consolidated Balance Sheets. (3) Available for sale financial assets are included in "Prepaid expenses and other current assets" and "Other assets" in the Consolidated Balance Sheets. |
Derivative Financial Instruments Valuation | September 30, 2016 December 31, 2015 Assets (2) Liabilities (2) Assets (2) Liabilities (2) Derivatives in cash flow hedging relationships (1) Current Foreign exchange contracts 2.228 (1.965) 3.114 (2.921) Interest rate contracts - (107) - (1.637) Non-current Foreign exchange contracts 668 (165) 171 (127) Interest rate contracts - (1.987) - (961) Total $ 2.896 $ (4.224) $ 3.285 $ (5.646) Derivatives not designated as hedging instruments (1) Current Foreign exchange contracts 9.641 (22.969) 23.908 (7.056) Non-current Foreign exchange contracts - (656) 1.062 (65) Derivatives embedded in the convertible bonds - (105.664) - (115.990) Share options to secure the convertible bonds 105.664 - 115.990 - Total $ 115.305 $ (129.289) $ 140.960 $ (123.111) (1) At September 30, 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 nine months ended September 30, for the nine months ended September 30, 2016 2015 (Effective Portion) 2016 2015 Interest rate contracts $ 800 $ 8.168 Interest income/expense $ 18.581 $ 21.675 Foreign exchange contracts 1.394 (2.528) Costs of Revenue (387) 16.256 $ 2.194 $ 5.640 $ 18.194 $ 37.931 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 nine months ended September 30, 2016 2015 Foreign exchange contracts Selling, general and administrative expense $ 27.586 $ (48.552) Foreign exchange contracts Interest income/expense 3.472 8.555 Derivatives embedded in the convertible bonds Interest income/expense (13.246) 42.655 Share options to secure the convertible bonds Interest income/expense 13.246 (42.655) $ 31.058 $ (39.997) |
Other Comprehensive Income (L32
Other Comprehensive Income (Loss) (Tables 1) | 9 Months Ended |
Sep. 30, 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 3.542 - (247.256) (243.714) (3.692) (247.406) Amounts reclassified from AOCI 27.517 16.347 - 43.864 - 43.864 Other comprehensive income (loss) after reclassifications 31.059 16.347 (247.256) (199.850) (3.692) (203.542) Balance at September 30, 2015 $ (72.218) $ (265.672) $ (949.703) $ (1.287.593) $ (8.953) $ (1.296.546) 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 1.386 - 131.202 132.588 3.963 136.551 Amounts reclassified from AOCI 13.006 14.526 - 27.532 - 27.532 Other comprehensive income (loss) after reclassifications 14.392 14.526 131.202 160.120 3.963 164.083 Balance at September 30, 2016 $ (45.822) $ (210.565) $ (919.788) $ (1.176.175) $ (6.259) $ (1.182.434) |
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 $ 18.581 $ 21.675 Interest income/expense Foreign exchange contracts (387) 16.256 Costs of Revenue 18.194 37.931 Total before tax (5.188) (10.414) Tax expense or benefit $ 13.006 $ 27.517 Net of tax Actuarial (Gain) Loss on defined benefit pension plans Amortization of unrealized (gain) loss 23.053 25.995 (1) 23.053 25.995 Total before tax (8.527) (9.648) Tax expense or benefit $ 14.526 $ 16.347 Net of tax Total reclassifications for the period $ 27.532 $ 43.864 Net of tax (1) Included in the computation of net periodic pension cost (see Note 8 for additional details). |
Business Segment Information (T
Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2016 Revenue external customers $ 3.300.374 $ 675.331 $ 427.224 $ 191.670 $ 4.594.599 $ 3.642 $ 4.598.241 Inter - segment revenue 888 - 8 50 946 (946) - Revenue 3.301.262 675.331 427.232 191.720 4.595.545 2.696 4.598.241 Operating income 536.187 125.240 84.703 20.032 766.162 (96.220) 669.942 Depreciation and amortization (108.460) (30.636) (12.474) (4.663) (156.233) (40.358) (196.591) Income (loss) from equity method investees 26.164 1.200 1.163 504 29.031 - 29.031 Capital expenditures, acquisitions and investments 192.340 41.881 20.627 13.714 268.562 55.701 324.263 Three months ended September 30, 2015 Revenue external customers $ 3.012.532 $ 658.875 $ 377.981 $ 175.573 $ 4.224.961 $ 6.390 $ 4.231.351 Inter - segment revenue 1.646 - 2 148 1.796 (1.796) - Revenue 3.014.178 658.875 377.983 175.721 4.226.757 4.594 4.231.351 Operating income 515.465 129.822 67.552 (8.170) 704.669 (91.139) 613.530 Depreciation and amortization (100.842) (28.207) (11.070) (2.326) (142.445) (37.393) (179.838) Income (loss) from equity method investees 6.873 1.101 652 411 9.037 - 9.037 Capital expenditures, acquisitions and investments 140.126 53.235 9.530 14.144 217.035 77.667 294.702 Nine months ended September 30, 2016 Net revenue external customers $ 9.511.885 $ 1.982.453 $ 1.198.315 $ 519.888 $ 13.212.541 $ 11.517 $ 13.224.058 Inter - segment revenue 3.024 - 18 148 3.190 (3.190) - Revenue 9.514.909 1.982.453 1.198.333 520.036 13.215.731 8.327 13.224.058 Operating Income 1.485.502 394.583 224.671 47.178 2.151.934 (300.611) 1.851.323 Depreciation and amortization (317.674) (89.816) (36.073) (12.511) (456.074) (116.509) (572.583) Income (loss) from equity method investees 57.103 1.859 936 1.175 61.073 - 61.073 Total assets 17.998.260 3.669.248 1.956.653 751.451 24.375.612 2.282.873 26.658.485 thereof investments in equity method investees 330.686 238.947 112.555 27.626 709.814 - 709.814 Capital expenditures, acquisitions and investments (1) 741.879 145.651 38.482 29.532 955.544 179.066 1.134.610 Nine months ended September 30, 2015 Net revenue external customers $ 8.729.595 $ 1.955.537 $ 1.107.119 $ 576.145 $ 12.368.396 $ 21.618 $ 12.390.014 Inter - segment revenue 4.472 - 20 392 4.884 (4.884) - Revenue 8.734.067 1.955.537 1.107.139 576.537 12.373.280 16.734 12.390.014 Operating Income 1.283.782 405.320 219.098 25.398 1.933.598 (268.705) 1.664.893 Depreciation and amortization (298.911) (85.349) (33.505) (11.375) (429.140) (107.511) (536.651) Income (loss) from equity method investees 15.383 3.983 1.848 824 22.038 - 22.038 Total assets (2),(3) 16.944.472 3.437.731 1.752.893 616.199 22.751.295 2.400.678 25.151.973 thereof investments in equity method investees 291.323 238.542 111.784 26.050 667.699 - 667.699 Capital expenditures, acquisitions and investments (4) 427.529 125.419 33.465 25.045 611.458 201.586 813.044 (1) North America, EMEA, Latin America and Asia Pacific acquisitions exclude $9,130, $91,813, $4,999 and $4,860 respectively of non-cash acquisitions for 2016. (2) At September 30, 2015 debt issuance costs in the amount of $53,156 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 September 30, 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 $242,169 and $34,671, respectively. As a result of deferred tax netting, noncurrent assets and liabilities were then adjusted in the amount of $209,094. (4) North America, EMEA, Asia-Pacific, Latin America and Corporate acquisitions and investments exclude $2,600, $21,195, $36,273, $246 and $7,926, respectively, of non-cash acquisitions and investments for 2015. |
Supplementary Cash Flow Infor34
Supplementary Cash Flow Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Supplementary Cash Flow Information (Tables) [Abstract] | |
Cash Flow Supplemental [Text Block] | For the nine months ended September 30, 2016 2015 Supplementary cash flow information: Cash paid for interest $ 345.892 $ 341.496 Cash paid for income taxes (1) $ 502.163 $ 372.711 Cash inflow for income taxes from stock option exercises (2) $ 8.469 $ 13.859 Supplemental disclosures of cash flow information: Details for acquisitions: Assets acquired $ (465.121) $ (159.535) Liabilities assumed 67.378 35.233 Noncontrolling interest subject to put provisions 43.897 8.358 Noncontrolling interest 15.119 956 Non-cash consideration 79.993 49.324 Cash paid (258.734) (65.664) Less cash acquired 15.377 3.316 Net cash paid for acquisitions (243.357) (62.348) Cash paid for investments (133.844) (78.372) Cash paid for intangible assets (9.767) (24.974) Total cash paid for acquisitions and investments, net of cash acquired, and purchases of intangible assets $ (386.968) $ (165.694) (1) Net of tax refund. (2) Thereof the excess tax benefit allocated to additional paid-in capital for the nine months ended September 30, 2016 and 2015 was $6,254 and $10,456, respectively. |
Supplemental Condensed Combin35
Supplemental Condensed Combining Information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Supplemental Condensed Combining Information (Tables) [Abstract] | |
Income statement information segregated by issuers and guarantors | For the nine months ended September 30, 2016 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 1.423.176 $ - $ 14.219.979 $ (2.419.097) $ 13.224.058 Cost of revenue - - 903.280 - 10.531.770 (2.398.829) 9.036.221 Gross profit - - 519.896 - 3.688.209 (20.268) 4.187.837 Operating expenses (income): Selling, general and administrative (1) - 147.631 159.567 (37.729) 1.937.593 9.316 2.216.378 Research and development - - 66.232 - 53.904 - 120.136 Operating (loss) income - (147.631) 294.097 37.729 1.696.712 (29.584) 1.851.323 Other (income) expense: Interest, net (5.344) 140.489 (2.921) 174.012 1.569 - 307.805 Other, net - (1.173.243) 200.639 (674.201) - 1.646.805 - Income (loss) before income taxes 5.344 885.123 96.379 537.918 1.695.143 (1.676.389) 1.543.518 Income tax expense (benefit) 1.939 29.979 87.829 (53.764) 629.058 (224.108) 470.933 Net Income (loss) 3.405 855.144 8.550 591.682 1.066.085 (1.452.281) 1.072.585 Net Income attributable to noncontrolling interests - - - - 217.441 - 217.441 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 848.644 $ (1.452.281) $ 855.144 (1) Selling, general and administrative is presented net of income from equity method investees. For the nine months ended September 30, 2015 Issuer Guarantors FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Non-Guarantor Subsidiaries Combining Adjustment Combined Total Net revenue $ - $ - $ 1.391.965 $ - $ 13.234.250 $ (2.236.201) $ 12.390.014 Cost of revenue - - 893.319 - 9.870.460 (2.236.844) 8.526.935 Gross profit - - 498.646 - 3.363.790 643 3.863.079 Operating expenses (income): Selling, general and administrative (1) - 141.963 148.544 170.985 1.629.919 6.415 2.097.826 Research and development - - 53.941 - 46.419 - 100.360 Operating (loss) income - (141.963) 296.161 (170.985) 1.687.452 (5.772) 1.664.893 Other (income) expense: Interest, net (5.236) 153.670 (3.182) 170.360 (12.112) 11 303.511 Other, net - (1.015.723) 201.874 (598.506) - 1.412.355 - Income (loss) before income taxes 5.236 720.090 97.469 257.161 1.699.564 (1.418.138) 1.361.382 Income tax expense (benefit) 1.900 7.454 89.153 (134.661) 639.635 (161.814) 441.667 Net Income (loss) 3.336 712.636 8.316 391.822 1.059.929 (1.256.324) 919.715 Net Income attributable to noncontrolling interests - - - - 207.079 - 207.079 Net income (loss) attributable to shareholders of FMC-AG & Co. KGaA $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 852.850 $ (1.256.324) $ 712.636 (1) Selling, general and administrative is presented net of income from equity method investees. |
Balance sheet information segregated by issuers and guarantors | At September 30, 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 $ 13 $ 330 $ - $ 902.807 $ (273.314) $ 629.837 Trade accounts receivable, less allowance for doubtful accounts - - 168.590 - 3.452.640 (676) 3.620.554 Accounts receivable from related parties 1.248.414 1.167.351 884.668 2.390.002 3.621.964 (9.140.936) 171.463 Inventories - - 267.842 - 1.311.012 (172.260) 1.406.594 Prepaid expenses and other current assets - 66.220 75.468 33 1.207.397 40.832 1.389.950 Total current assets 1.248.415 1.233.584 1.396.898 2.390.035 10.495.820 (9.546.354) 7.218.398 Property, plant and equipment, net - 613 288.195 - 3.552.565 (106.745) 3.734.628 Intangible assets - 1.247 48.614 - 768.871 (78) 818.654 Goodwill - - 54.717 - 13.433.194 - 13.487.911 Deferred taxes - 112.580 32.885 - 176.160 (128.390) 193.235 Other assets (1) - 14.866.993 45.046 13.843.126 6.297.842 (33.847.348) 1.205.659 Total assets $ 1.248.415 $ 16.215.017 $ 1.866.355 $ 16.233.161 $ 34.724.452 $ (43.628.915) $ 26.658.485 Current liabilities: Accounts payable $ - $ 1.107 $ 27.291 $ - $ 499.026 $ - $ 527.424 Accounts payable to related parties - 265.389 708.475 1.652.439 5.952.752 (8.321.095) 257.960 Accrued expenses and other current liabilities 11.833 75.545 146.480 11.001 2.387.799 (1.379) 2.631.279 Short-term debt - 888.797 - - 107.445 (274.996) 721.246 Short-term debt from related parties - 1.175.644 - - - (1.076.758) 98.886 Current portion of long-term debt and capital lease obligations 503.904 26.786 1.294 200.000 159.315 - 891.299 Income tax payable - 12.199 - - 105.365 8.152 125.716 Total current liabilities 515.737 2.445.467 883.540 1.863.440 9.211.702 (9.666.076) 5.253.810 Long term debt and capital lease obligations, less current portion 650.000 669.194 4.597 1.947.776 6.398.359 (2.495.918) 7.174.008 Long term debt from related parties - 2.333.897 - 2.721.696 - (5.055.593) - Other liabilities - 109.224 1.441 423.440 (24.402) 36.018 545.721 Pension liabilities - 16.923 338.854 - 189.226 (30.523) 514.480 Income tax payable 890 48.729 - - (11.975) 90.753 128.397 Deferred taxes - - - - 617.044 (35.323) 581.721 Total liabilities 1.166.627 5.623.434 1.228.432 6.956.352 16.379.954 (17.156.662) 14.198.137 Noncontrolling interests subject to put provisions and other temporary equity - - 0 - 1.222.643 - 1.222.643 Redeemable Preferred Stock - - - 235.141 (235.141) - - Total FMC-AG & Co. KGaA shareholders' equity 81.788 10.591.583 637.923 9.041.668 16.710.874 (26.472.253) 10.591.583 Noncontrolling interests not subject to put provisions - - - - 646.122 - 646.122 Total equity 81.788 10.591.583 637.923 9.041.668 17.356.996 (26.472.253) 11.237.705 Total liabilities and equity $ 1.248.415 $ 16.215.017 $ 1.866.355 $ 16.233.161 $ 34.724.452 $ (43.628.915) $ 26.658.485 (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 nine months ended September 30, 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) $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 1.066.085 $ (1.452.281) $ 1.072.585 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (741.148) - (674.201) - 1.415.349 - Depreciation and amortization - 636 44.369 - 549.971 (22.393) 572.583 Change in deferred taxes, net - (25.391) (7.077) - (17.762) (4.669) (54.899) (Gain) loss on sale of fixed assets and investments - (28) 23 - (3.090) - (3.095) (Write Up) write-off loans from related parties - (415) (5.395) - - 5.810 - Compensation expense related to stock options - 23.096 - - 3.212 - 26.308 Investments in equity method investees, net - - - - (55.749) - (55.749) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (20.860) - (250.528) 1.430 (269.958) Inventories - - (28.968) - (36.090) 19.870 (45.188) Prepaid expenses and other current and non-current assets - 73.101 (12.702) 34.698 (64.362) 2.107 32.842 Accounts receivable from / payable to related parties 19.596 (881.407) 215.007 101.964 552.320 74.271 81.751 Accounts payable, accrued expenses and other current and non-current liabilities (17.937) (4.439) 50.258 (4.526) (89.152) 2.521 (63.275) Income tax payable 89 27.308 - (53.764) 60.780 (32.002) 2.411 Net cash provided by (used in) operating activities 5.153 (673.543) 243.205 (4.147) 1.715.635 10.013 1.296.316 Investing Activities: Purchases of property, plant and equipment - (237) (59.105) - (711.376) 23.076 (747.642) Proceeds from sale of property, plant and equipment - 73 307 - 13.206 - 13.586 Disbursement of loans to related parties - 183.821 - 301.151 - (484.972) - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (26.392) (271) - (386.684) 26.379 (386.968) Proceeds from divestitures - 80.037 - - 175.221 (62.123) 193.135 Net cash provided by (used in) investing activities - 237.302 (59.069) 301.151 (909.633) (497.640) (927.889) Financing Activities: Short-term borrowings, net - 690.092 (189.244) - 453.081 (274.996) 678.933 Long-term debt and capital lease obligations, net (5.154) (20.092) 256 (297.004) (715.798) 484.972 (552.820) Increase (decrease) of accounts receivable securitization program - - - - (51.000) - (51.000) Proceeds from exercise of stock options - 39.433 - - 7.089 - 46.522 Dividends paid - (277.176) - - (17.222) 17.222 (277.176) Capital increase (decrease) - - - - 12.437 (12.437) - Distributions to noncontrolling interest - - - - (234.742) - (234.742) Contributions from noncontrolling interest - - - - 72.462 - 72.462 Net cash provided by (used in) financing activities (5.154) 432.257 (188.988) (297.004) (473.693) 214.761 (317.821) Effect of exchange rate changes on cash and cash equivalents - 3.549 127 - 26.055 - 29.731 Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents (1) (435) (4.725) - 358.364 (272.866) 80.337 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 $ 13 $ 330 $ - $ 902.807 $ (273.314) $ 629.837 For the nine months ended September 30, 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) $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 1.059.929 $ (1.256.324) $ 919.715 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity affiliate income - (612.421) - (598.506) - 1.210.927 - Depreciation and amortization - 410 37.935 - 477.116 21.190 536.651 Change in deferred taxes, net - (23.269) 415 - (77.168) (3.181) (103.203) (Gain) loss on sale of fixed assets and investments - (12) (81) - (5.084) - (5.177) Compensation expense related to stock options - 2.395 - - 3.507 - 5.902 Investments in equity method investees, net - 5.560 - - (16.282) - (10.722) Changes in assets and liabilities, net of amounts from businesses acquired: Trade accounts receivable, net - - (22.366) - (251.675) 704 (273.337) Inventories - - (17.353) - (254.165) 5.923 (265.595) Prepaid expenses and other current and non-current assets - 39.897 (34.412) 173.705 105.446 82 284.718 Accounts receivable from / payable to related parties 19.611 396.217 (184.948) 145.164 (303.029) 28.657 101.672 Accounts payable, accrued expenses and other current and non-current liabilities (17.939) 39.904 48.169 (1.071) 179.666 (1.111) 247.618 Income tax payable 80 (7.615) - (134.661) 97.808 17.870 (26.518) Net cash provided by (used in) operating activities 5.088 553.702 (164.325) (23.547) 1.016.069 24.737 1.411.724 Investing Activities: Purchases of property, plant and equipment - (181) (60.096) - (560.929) (26.144) (647.350) Proceeds from sale of property, plant and equipment - 26 322 - 10.819 - 11.167 Disbursement of loans to related parties - (314.328) - 275.700 - 38.628 - Acquisitions and investments, net of cash acquired, and purchases of intangible assets - (76.823) (572) - (132.688) 44.389 (165.694) Proceeds from divestitures - 20.652 - - 42.513 (20.652) 42.513 Net cash provided by (used in) investing activities - (370.654) (60.346) 275.700 (640.285) 36.221 (759.364) Financing Activities: Short-term borrowings, net - 64.992 225.488 - (250.724) (5.961) 33.795 Long-term debt and capital lease obligations, net (5.088) (20.001) - (252.153) 57.149 (38.628) (258.721) Increase (decrease) of accounts receivable securitization program - - - - (45.750) - (45.750) Proceeds from exercise of stock options - 53.375 - - 13.859 - 67.234 Dividends paid - (263.244) - - - - (263.244) Capital increase (decrease) - - - - 22.330 (22.330) - Distributions to noncontrolling interest - - - - (201.884) - (201.884) Contributions from noncontrolling interest - - - - 34.299 - 34.299 Net cash provided by (used in) financing activities (5.088) (164.878) 225.488 (252.153) (370.721) (66.919) (634.271) Effect of exchange rate changes on cash and cash equivalents - (18.271) (437) - (11.859) - (30.567) Cash and Cash Equivalents: Net increase (decrease) in cash and cash equivalents 0 (101) 380 - (6.796) (5.961) (12.478) Cash and cash equivalents at beginning of period 1 117 5.722 - 628.015 - 633.855 Cash and cash equivalents at end of period $ 1 $ 16 $ 6.102 $ - $ 621.219 $ (5.961) $ 621.377 |
Comprehensive income statement information segregated by issuer | For the nine months ended September 30, 2016 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 3.405 $ 855.144 $ 8.550 $ 591.682 $ 1.066.085 $ (1.452.281) $ 1.072.585 Gain (loss) related to cash flow hedges - 19.381 2.177 - (1.170) - 20.388 Actuarial gain (loss) on defined benefit pension plans - 301 5.097 17.185 470 - 23.053 Gain (loss) related to foreign currency translation - (78.627) 14.487 - 203.456 (4.151) 135.165 Income tax (expense) benefit related to components of other comprehensive income - (5.660) (2.159) (6.780) 76 - (14.523) Other comprehensive income (loss), net of tax - (64.605) 19.602 10.405 202.832 (4.151) 164.083 Total comprehensive income $ 3.405 $ 790.539 $ 28.152 $ 602.087 $ 1.268.917 $ (1.456.432) $ 1.236.668 Comprehensive income attributable to noncontrolling interests - - - - - 221.404 221.404 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 3.405 $ 790.539 $ 28.152 $ 602.087 $ 1.268.917 $ (1.677.836) $ 1.015.264 For the nine months ended September 30, 2015 Issuer Guarantors Non-Guarantor Subsidiaries Combining Adjustment Combined Total FMC US Finance FMC - AG & Co. KGaA D-GmbH FMCH Net Income $ 3.336 $ 712.636 $ 8.316 $ 391.822 $ 1.059.929 $ (1.256.324) $ 919.715 Gain (loss) related to cash flow hedges - 29.944 - - 13.627 - 43.571 Actuarial gain (loss) on defined benefit pension plans - 296 5.360 19.800 539 - 25.995 Gain (loss) related to foreign currency translation - (118.003) (47.431) - (101.599) 16.085 (250.948) Income tax (expense) benefit related to components of other comprehensive income - (8.685) (1.588) (7.811) (4.076) - (22.160) Other comprehensive income (loss), net of tax - (96.448) (43.659) 11.989 (91.509) 16.085 (203.542) Total comprehensive income $ 3.336 $ 616.188 $ (35.343) $ 403.811 $ 968.420 $ (1.240.239) $ 716.173 Comprehensive income attributable to noncontrolling interests - - - - - 203.387 203.387 Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA $ 3.336 $ 616.188 $ (35.343) $ 403.811 $ 968.420 $ (1.443.626) $ 512.786 |
Related Party Financing (Detail
Related Party Financing (Details 1) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2016CHF (SFr) | Sep. 30, 2016EUR (€) | Sep. 30, 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 | $ 160,026,000 | $ 131,252,000 | |||
Cash Management AP FreseniusSE [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | 155,701,000 | 115,932,000 | |||
General Partner Loan 1 [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 1,674,000 | 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 | 1.335% | 1.335% | 1.335% | ||
Transaction Amount Original Currency | € | € 1,500,000 | ||||
General Partner Loan 2 [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 1,674,000 | 1,633,000 | |||
Date of repayment | Nov. 27, 2016 | Nov. 27, 2016 | Nov. 27, 2016 | ||
Interest rate | 1.875% | 1.875% | 1.875% | ||
Revised Interest Rate | 1.223% | 1.223% | 1.223% | ||
Transaction Amount Original Currency | € | € 1,500,000 | ||||
Multi Tranche Loan To Equity Method Investee [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 80,037,000 | ||||
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 | $ 9,264,000 | 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 | $ 9,264,000 | 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 | $ 95,538,000 | ||||
Interest rate | 0.729% | 0.729% | 0.729% | ||
Transaction Amount Original Currency | € | € 85,600,000 | ||||
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 | $ 90,000 | $ 486,000 | |||
General Partner AP [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | 4,343,000 | 17,806,000 | |||
General Partner Reimbursement [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Amount of transaction | $ 17,398,000 | $ 10,718,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
ServiceAgreementsFreseniusSE [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | $ 156,000 | $ 145,000 | $ 156,000 | $ 145,000 | |
Purchases of Goods and Services | 16,864,000 | 14,550,000 | 16,864,000 | 14,550,000 | |
Accounts Receivables | 337,000 | 337,000 | $ 422,000 | ||
Accounts Payables | 5,922,000 | 5,922,000 | 3,185,000 | ||
Service Agreements Fresenius SE Affiliates [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 2,694,000 | 5,557,000 | 2,694,000 | 5,557,000 | |
Purchases of Goods and Services | 62,164,000 | 56,818,000 | 62,164,000 | 56,818,000 | |
Accounts Receivables | 735,000 | 735,000 | 2,104,000 | ||
Accounts Payables | 2,386,000 | 2,386,000 | 4,079,000 | ||
Service Agreements Equity Method Investees [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 14,150,000 | 16,392,000 | 14,150,000 | 16,392,000 | |
Purchases of Goods and Services | 0 | 0 | 0 | 0 | |
Accounts Receivables | 847,000 | 847,000 | 10,180,000 | ||
Accounts Payables | 0 | 0 | 0 | ||
Service Agreements Total [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 17,000,000 | 22,094,000 | 17,000,000 | 22,094,000 | |
Purchases of Goods and Services | 79,028,000 | 71,368,000 | 79,028,000 | 71,368,000 | |
Accounts Receivables | 1,919,000 | 1,919,000 | 12,706,000 | ||
Accounts Payables | 8,308,000 | 8,308,000 | 7,264,000 | ||
Lease Agreements Fresenius SE [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 0 | 0 | 0 | 0 | |
Purchases of Goods and Services | 7,869,000 | 7,161,000 | 7,869,000 | 7,161,000 | |
Accounts Receivables | 0 | 0 | 0 | ||
Accounts Payables | 0 | 0 | 0 | ||
Lease Agreements Fresenius SE Affiliates [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 0 | 0 | 0 | 0 | |
Purchases of Goods and Services | 11,396,000 | 10,967,000 | 11,396,000 | 10,967,000 | |
Accounts Receivables | 0 | 0 | 0 | ||
Accounts Payables | 0 | 0 | 0 | ||
Lease Agreements Total [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 0 | 0 | 0 | 0 | |
Purchases of Goods and Services | 19,265,000 | 18,128,000 | 19,265,000 | 18,128,000 | |
Accounts Receivables | 0 | 0 | 0 | ||
Accounts Payables | 0 | 0 | 0 | ||
Products Fresenius SE [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 2,000 | 5,000 | 2,000 | 5,000 | |
Purchases of Goods and Services | 0 | 0 | 0 | 0 | |
Accounts Receivables | 0 | 0 | 0 | ||
Accounts Payables | 0 | 0 | 0 | ||
Products Fresenius SE Affiliates [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 19,365,000 | 19,957,000 | 19,365,000 | 19,957,000 | |
Purchases of Goods and Services | 35,999,000 | 27,675,000 | 35,999,000 | 27,675,000 | |
Accounts Receivables | 9,428,000 | 9,428,000 | 8,774,000 | ||
Accounts Payables | 4,127,000 | 4,127,000 | 3,768,000 | ||
Products Equity Method Investees [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 0 | 0 | 0 | 0 | |
Purchases of Goods and Services | 326,401,000 | 168,287,000 | 326,401,000 | 168,287,000 | |
Accounts Receivables | 0 | 0 | 0 | ||
Accounts Payables | 85,481,000 | 85,481,000 | 8,253,000 | ||
Products Total [Member] | |||||
Related Party Transactions 1 [Line Items] | |||||
Sales of Goods and Services | 19,367,000 | 19,962,000 | 19,367,000 | 19,962,000 | |
Purchases of Goods and Services | 362,400,000 | $ 195,962,000 | 362,400,000 | $ 195,962,000 | |
Accounts Receivables | 9,428,000 | 9,428,000 | 8,774,000 | ||
Accounts Payables | $ 89,608,000 | $ 89,608,000 | $ 12,021,000 |
Inventories (Details)
Inventories (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Inventories (Details) [Abstract] | ||
Raw materials and purchased components | $ 232,561,000 | $ 206,525,000 |
Work in process | 83,072,000 | 68,593,000 |
Finished goods | 733,183,000 | 670,291,000 |
Health care supplies | 357,778,000 | 395,342,000 |
Inventories | $ 1,406,594,000 | $ 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 ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Short Term Borrowings Other Financial Liabilities And Short Term Borrowings From Related Parties (Details) [Abstract] | ||
commercial paper | $ 613,801,000 | $ 0 |
Borrowings under lines of credit | 99,074,000 | 109,230,000 |
Other financial liabilities | 8,371,000 | 22,000 |
Short-term debt and other financial liabilities | 721,246,000 | 109,252,000 |
Short Term Debt Due To Related Parties Current | 98,886,000 | 19,052,000 |
Short-term borrowings, Other financial liabilities and Short-term borrowings from related parties | 820,132,000 | 128,304,000 |
Related Party Transaction [Line Items] | ||
External Cash Pool | $ 274,996,000 | $ 48,277,000 |
Long-term Debt and Capital Le40
Long-term Debt and Capital Lease Obligations (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Senior Credit Agreement | $ 2,432,360,000 | $ 2,611,580,000 |
Senior Long Term Notes | 5,617,692,000 | 5,325,618,000 |
Convertible Bonds | 423,196,000 | 407,705,000 |
Accounts receivable facility | 0 | 50,185,000 |
Capital lease obligations | 48,500,000 | 40,621,000 |
Other | 63,801,000 | 82,113,000 |
Long-term debt and capital lease obligations | 8,065,307,000 | 8,517,822,000 |
Less current maturities | (891,299,000) | (664,335,000) |
Long-term debt and capital lease obligations less current maturities | 7,174,008,000 | 7,853,487,000 |
Total Long Term Debt | 8,065,307,000 | 8,517,822,000 |
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 | 2,150,000,000 | 2,300,000,000 |
Balance outstanding | 2,150,000,000 | 2,300,000,000 |
Term Loan EUR [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 287,953,800 | 300,481,000 |
Balance outstanding | 287,953,800 | 300,481,000 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Maximum amount available | 3,884,393,800 | 4,035,961,000 |
Balance outstanding | 2,450,476,900 | 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 | 12,523,100 | 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 | $ 446,440,000 | $ 435,480,000 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Numerators: | ||||
Income attributable to the Company | $ 333,178,000 | $ 262,320,000 | $ 855,144,000 | $ 712,636,000 |
Denominators: | ||||
Weighted average number of ordinary shares outstanding | 305,972,432 | 304,738,291 | 305,602,983 | 304,201,787 |
Potentially dilutive Ordinary shares | 531,890.856737995 | 450,218 | 452,247.12113046 | 454,573 |
Total weighted average Ordinary shares outstanding assuming dilution | 306,504,322.856738 | 305,188,509 | 306,055,230.12113 | 304,656,360 |
Treasury stock shares retired | 6,549,000 | |||
Weighted average price treasury shares | $ 57 | $ 57 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Components Of Net Periodic Benefit Cost [Abstract] | ||||
Service cost | $ 4,746,000 | $ 6,243,000 | $ 18,430,000 | $ 18,764,000 |
Interest cost | 7,289,000 | 6,949,000 | 21,864,000 | 20,864,000 |
Expected return on plan assets | 3,870,000 | 4,100,000 | 11,610,000 | 12,302,000 |
Amortization of unrealized losses | 7,715,000 | 8,660,000 | 23,141,000 | 25,995,000 |
Defined Benefit Plan Recognized Net Gain Loss Due To Settlements | (29,000) | 0 | (88,000) | 0 |
Net periodic benefit costs | $ 15,851,000 | $ 17,752,000 | $ 51,737,000 | $ 53,321,000 |
Noncontrolling Interests Subj43
Noncontrolling Interests Subject to Put Provisions (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Jan. 01, 2016 | Jan. 01, 2015 | Dec. 31, 2014 | |
Noncontrolling Interests Subject To Put Provisions (Details) [Abstract] | ||||||||
Potential obligations under the put provisions | $ 1,216,801,000 | $ 1,216,801,000 | $ 1,023,755,000 | |||||
Temporary Equity [Line Items] | ||||||||
Net income attributable to noncontrolling interest | 405,689,000 | $ 345,651,000 | 1,072,585,000 | $ 919,715,000 | ||||
Other Comprehensive Income Loss Net Of Tax | 29,673,000 | $ (125,514,000) | 164,083,000 | $ (203,542,000) | ||||
Noncontrolling interests subject to put provisions | 1,222,643,000 | 1,222,643,000 | 1,028,368,000 | $ 824,658,000 | ||||
Put provisions exercisable | 293,192,000 | 293,192,000 | 258,552,000 | |||||
Other temporary equity related to subsidiary stock incentive plan | 5,842,000 | 4,613,000 | ||||||
Noncontrolling interests subject to put provisions [Member] | ||||||||
Temporary Equity [Line Items] | ||||||||
contributions to noncontrolling interests | (133,511,000) | (164,830,000) | ||||||
Purchase (sale) of noncontrolling interests | 50,699,000 | 7,915,000 | ||||||
Cash contributions from noncontrolling interests | 30,298,000 | 16,749,000 | ||||||
Expiration Of Put Provisions | (3,917,000) | 5,206,000 | ||||||
Changes in fair value of noncontrolling interests | 115,325,000 | 178,003,000 | ||||||
Net income attributable to noncontrolling interest | 133,267,000 | 159,127,000 | ||||||
Other Comprehensive Income Loss Net Of Tax | 885,000 | (3,073,000) | ||||||
Noncontrolling interests subject to put provisions | $ 1,216,801,000 | $ 1,216,801,000 | $ 1,023,755,000 | $ 1,023,755,000 | $ 824,658,000 |
Sources Of Revenue (Details)
Sources Of Revenue (Details) - USD ($) | Sep. 30, 2016 | Sep. 30, 2015 |
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | $ 9,179,549,000 | $ 8,407,244,000 |
Medicare ESRD program | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | 3,991,859,000 | 3,759,692,000 |
Private/alternative payors | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | 3,971,847,000 | 3,574,919,000 |
Medicaid and other government sources | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | 465,610,000 | 398,912,000 |
Hospitals | ||
Patient Service Revenue by Payor [Line Items] | ||
Patient Service Revenue | $ 750,233,000 | $ 673,721,000 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) | 9 Months Ended | |||||
Sep. 30, 2016 | Sep. 30, 2015 | Jan. 01, 2016 | Dec. 31, 2015 | Jan. 01, 2015 | Dec. 31, 2014 | |
Assets: | ||||||
Cash and cash equivalents | $ 629,837,000 | $ 621,377,000 | $ 549,500,000 | $ 549,500,000 | $ 633,855,000 | |
Accounts receivable | 3,804,550,000 | |||||
available for sale securities | 284,060,000 | |||||
Liabilities: | ||||||
Accounts Payable | 785,384,000 | |||||
Short-term debt | 721,246,000 | 109,252,000 | ||||
Short-term debt from related parties | 98,886,000 | 19,052,000 | ||||
Long term debt, excluding Amended 2006 Senior Credit Agreement, Euro Notes and Senior Notes | 112,797,000 | |||||
Senior Credit Agreement | 2,432,360,000 | 2,611,580,000 | ||||
Senior Long Term Notes | 5,617,692,000 | 5,325,618,000 | ||||
Convertible Debt | 559,273,000 | |||||
Noncontrolling interests subject to put provisions | 1,222,643,000 | 1,028,368,000 | $ 824,658,000 | |||
Financial instruments notional amount of foreign currency cash flow hedge derivatives | 138,148,000 | 193,880,000 | ||||
Financial instrument notional amount of foreign currency derivative instruments not designated as hedging instruments | 1,143,247,000 | 1,637,129,000 | ||||
Financial instrument notional amount of interest rate derivatives | 399,564,000 | 409,351,000 | ||||
Amount of additional interest expense expected to be reclassified into earnings | 45,118,000 | $ 58,581,000 | ||||
Master Netting Agreement Derivative Financial Assets | 8,285,000 | 24,366,000 | ||||
Master Netting Agreement Derivative Financial Liabilities | 27,189,000 | 12,765,000 | ||||
Master Netting Agreement Derivative Net Assets | 3,488,000 | 16,273,000 | ||||
Master Netting Agreement Net Liabilities | 22,392,000 | 4,672,000 | ||||
Carrying Reported Amount Fair Value Disclosure [Member] | ||||||
Assets: | ||||||
Cash and cash equivalents | 629,837,000 | 549,500,000 | ||||
Accounts receivable | 3,804,550,000 | 3,521,741,000 | ||||
available for sale securities | 284,060,000 | 275,770,000 | ||||
Long-term notes receivable | 0 | 0 | ||||
Liabilities: | ||||||
Accounts Payable | 785,384,000 | 780,851,000 | ||||
Short-term debt | 820,132,000 | 128,304,000 | ||||
Long term debt, excluding Amended 2006 Senior Credit Agreement, Euro Notes and Senior Notes | 112,301,000 | 172,919,000 | ||||
Senior Credit Agreement | 2,439,158,000 | 2,611,580,000 | ||||
Senior Long Term Notes | 5,090,652,000 | 5,325,618,000 | ||||
Convertible Debt | 423,196,000 | 407,705,000 | ||||
Noncontrolling interests subject to put provisions | 1,216,801,000 | 1,023,755,000 | ||||
Portion At Fair Value Fair Value Disclosure [Member] | ||||||
Assets: | ||||||
Cash and cash equivalents | 629,837,000 | 549,500,000 | ||||
Accounts receivable | 3,804,550,000 | 3,521,741,000 | ||||
available for sale securities | 284,060,000 | 275,770,000 | ||||
Long-term notes receivable | 0 | 0 | ||||
Liabilities: | ||||||
Accounts Payable | 785,384,000 | 780,851,000 | ||||
Short-term debt | 820,186,000 | 128,304,000 | ||||
Long term debt, excluding Amended 2006 Senior Credit Agreement, Euro Notes and Senior Notes | 112,797,000 | 172,919,000 | ||||
Senior Credit Agreement | 2,432,360,000 | 2,625,591,000 | ||||
Senior Long Term Notes | 5,617,692,000 | 5,782,937,000 | ||||
Convertible Debt | 559,273,000 | 546,057,000 | ||||
Noncontrolling interests subject to put provisions | $ 1,216,801,000 | $ 1,023,755,000 |
Financial Instruments (Details
Financial Instruments (Details 1) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | $ 2,896,000 | $ 3,285,000 |
Liabilities | (4,224,000) | (5,646,000) |
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 115,305,000 | 140,960,000 |
Non Hedging Liabilities | (129,289,000) | (123,111,000) |
Foreign Exchange Contract Current 1 [Member] | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 9,641,000 | 23,908,000 |
Non Hedging Liabilities | (22,969,000) | (7,056,000) |
Foreign Exchange Contract Non Current 1 [Member] | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 0 | 1,062,000 |
Non Hedging Liabilities | (656,000) | (65,000) |
embedded derivative | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 0 | 0 |
Non Hedging Liabilities | (105,664,000) | (115,990,000) |
Bond option | ||
Derivatives Fair Value Not Designated As Hedging [LineItems] | ||
Non Hedging Assets | 105,664,000 | 115,990,000 |
Non Hedging Liabilities | 0 | 0 |
Foreign Exchange Contract Current [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | 2,228,000 | 3,114,000 |
Liabilities | (1,965,000) | (2,921,000) |
Interest Rate Contract Current Dollar [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Liabilities | (107,000) | (1,637,000) |
Foreign Exchange Contract Non Current [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | 668,000 | 171,000 |
Liabilities | (165,000) | (127,000) |
Interest Rate Contract Non Current Dollar [Member] | ||
Derivatives Fair Value Designated As Hedging [Line Items] | ||
Assets | 0 | |
Liabilities | $ (1,987,000) | $ (961,000) |
Financial Instruments (Detail47
Financial Instruments (Details 2) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative Instruments Gain Loss [Line Items] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | $ 2,194,000 | $ 5,640,000 |
Amount of (Gain) or Loss Recognized in Income on Derivatives | 18,194,000 | 37,931,000 |
Amount of (Gain) or Loss Recognized in Income on Derivatives | 31,058,000 | (39,997,000) |
Non Hedging Foreign Exchange Interest Income Expense [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | 3,472,000 | 8,555,000 |
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) | 1,394,000 | (2,528,000) |
Amount of (Gain) or Loss Recognized in Income on Derivatives | (387,000) | 16,256,000 |
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 | 27,586,000 | (48,552,000) |
HedgingInterestRateContractsInterestIncomeMember [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | 800,000 | 8,168,000 |
Amount of (Gain) or Loss Recognized in Income on Derivatives | 18,581,000 | 21,675,000 |
Non Hedging Embedded Derivative [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | (13,246,000) | 42,655,000 |
Non Hedging Share Option on Convertible Bond [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Gain) or Loss Recognized in Income on Derivatives | $ 13,246,000 | $ (42,655,000) |
Other Comprehensive Income (L48
Other Comprehensive Income (Loss) (Details 2) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 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 | $ 29,673,000 | $ (125,514,000) | $ 164,083,000 | $ (203,542,000) | ||
Accumulated other comprehensive (loss) ending balance | (1,176,175,000) | (1,176,175,000) | $ (1,336,295,000) | |||
Total FMC-AG and Co. KGaA [Member] | OtherComprehensiveIncomeRollforward [Member] | ||||||
Other comprehensive income before reclassifications | 136,551,000 | (247,406,000) | ||||
Amounts reclassified from Accumulated Other comprehensive income | (27,532,000) | (43,864,000) | ||||
Net current period other comprehensive income | 164,083,000 | (203,542,000) | ||||
Accumulated other comprehensive (loss) ending balance | (1,182,434,000) | (1,296,546,000) | (1,182,434,000) | (1,296,546,000) | (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 | 1,386,000 | 3,542,000 | ||||
Amounts reclassified from Accumulated Other comprehensive income | (13,006,000) | (27,517,000) | ||||
Net current period other comprehensive income | 14,392,000 | 31,059,000 | ||||
Accumulated other comprehensive (loss) ending balance | (45,822,000) | (72,218,000) | (45,822,000) | (72,218,000) | (60,214,000) | (103,277,000) |
AccumulatedDefinedBenefitPlansAdjustmentMember | OtherComprehensiveIncomeRollforward [Member] | ||||||
Other comprehensive income before reclassifications | 0 | 0 | ||||
Amounts reclassified from Accumulated Other comprehensive income | (14,526,000) | (16,347,000) | ||||
Net current period other comprehensive income | 14,526,000 | 16,347,000 | ||||
Accumulated other comprehensive (loss) ending balance | (210,565,000) | (265,672,000) | (210,565,000) | (265,672,000) | (225,091,000) | (282,019,000) |
AccumulatedTranslationAdjustmentMember | OtherComprehensiveIncomeRollforward [Member] | ||||||
Other comprehensive income before reclassifications | 131,202,000 | (247,256,000) | ||||
Amounts reclassified from Accumulated Other comprehensive income | 0 | 0 | ||||
Net current period other comprehensive income | 131,202,000 | (247,256,000) | ||||
Accumulated other comprehensive (loss) ending balance | (919,788,000) | (949,703,000) | (919,788,000) | (949,703,000) | (1,050,990,000) | (702,447,000) |
TotalBeforeNoncontrollingInterestsMember [Member] | OtherComprehensiveIncomeRollforward [Member] | ||||||
Other comprehensive income before reclassifications | 132,588,000 | (243,714,000) | ||||
Amounts reclassified from Accumulated Other comprehensive income | (27,532,000) | (43,864,000) | ||||
Net current period other comprehensive income | 160,120,000 | (199,850,000) | ||||
Accumulated other comprehensive (loss) ending balance | (1,176,175,000) | (1,287,593,000) | (1,176,175,000) | (1,287,593,000) | (1,336,295,000) | (1,087,743,000) |
Noncontrolling interests not subject to put provisions [Member] | OtherComprehensiveIncomeRollforward [Member] | ||||||
Other comprehensive income before reclassifications | 3,963,000 | (3,692,000) | ||||
Amounts reclassified from Accumulated Other comprehensive income | 0 | 0 | ||||
Net current period other comprehensive income | 3,963,000 | (3,692,000) | ||||
Accumulated other comprehensive (loss) ending balance | $ (6,259,000) | $ (8,953,000) | $ (6,259,000) | $ (8,953,000) | $ (10,222,000) | $ (5,261,000) |
Other Comprehensive Income (L49
Other Comprehensive Income (Loss) (Details 3) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Other comprehensive income loss net of tax portion attributables to parent [Line Items] | ||||
Other Comprehensive Income Loss Net Of Tax | $ 29,673,000 | $ (125,514,000) | $ 164,083,000 | $ (203,542,000) |
Total reclassification for the period | (27,532,000) | (43,864,000) | ||
Gain Loss Cash Flow Hedge [Member] | ||||
Total before tax | 18,194,000 | 37,931,000 | ||
Tax expense or benefit | (5,188,000) | 10,414,000 | ||
Net of tax | 13,006,000 | 27,517,000 | ||
Interest Rate Contract Cash Flow Hedge [Member] | ||||
Interest Income Expense Net | 18,581,000 | 21,675,000 | ||
Foreign Exchange Contract Cash Flow Hedge [Member] | ||||
Costs Of Revenue | (387,000) | 16,256,000 | ||
Actuarial Gain Loss Pensions [Member] | ||||
Actuarial (gains)/losses | (23,053,000) | (25,995,000) | ||
Total before tax | (23,053,000) | (25,995,000) | ||
Tax expense or benefit | (8,527,000) | 9,648,000 | ||
Net of tax | $ 14,526,000 | $ 16,347,000 |
Business Segment Information (D
Business Segment Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | $ 4,598,241,000 | $ 4,231,351,000 | $ 13,224,058,000 | $ 12,390,014,000 |
Revenues from transactions with other same entity operating segments | 0 | 0 | 0 | 0 |
Segment revenue | 4,598,241,000 | 4,231,351,000 | 13,224,058,000 | 12,390,014,000 |
Segment operating income | 669,942,000 | 613,530,000 | 1,851,323,000 | 1,664,893,000 |
Segment depreciation and amortization | 196,591,000 | 179,838,000 | 572,583,000 | 536,651,000 |
Income (Loss) From Equity Method Investments | 29,031,000 | 9,037,000 | 61,073,000 | 22,038,000 |
Segment Assets | 17,998,260,000 | 25,151,973,000 | 17,998,260,000 | 25,151,973,000 |
thereof investment in equity method investees | 709,814,000 | 667,699,000 | ||
Capital expenditures, acquisitions and investments | 324,263,000 | 294,702,000 | 1,134,610,000 | 813,044,000 |
North America Segment [Member] | ||||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | 3,300,374,000 | 3,012,532,000 | 9,511,885,000 | 8,729,595,000 |
Revenues from transactions with other same entity operating segments | 888,000 | 1,646,000 | 3,024,000 | 4,472,000 |
Segment revenue | 3,301,262,000 | 3,014,178,000 | 9,514,909,000 | 8,734,067,000 |
Segment operating income | 536,187,000 | 515,465,000 | 1,485,502,000 | 1,283,782,000 |
Segment depreciation and amortization | 108,460,000 | 100,842,000 | 317,674,000 | 298,911,000 |
Income (Loss) From Equity Method Investments | 26,164,000 | 6,873,000 | 57,103,000 | 15,383,000 |
Segment Assets | 17,998,260,000 | 17,998,260,000 | ||
thereof investment in equity method investees | 330,686,000 | 291,323,000 | ||
Capital expenditures, acquisitions and investments | 192,340,000 | 140,126,000 | 741,879,000 | 427,529,000 |
EMEA Segment [Member] | ||||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | 675,331,000 | 658,875,000 | 1,982,453,000 | 1,955,537,000 |
Revenues from transactions with other same entity operating segments | 0 | 0 | 0 | 0 |
Segment revenue | 675,331,000 | 658,875,000 | 1,982,453,000 | 1,955,537,000 |
Segment operating income | 125,240,000 | 129,822,000 | 394,583,000 | 405,320,000 |
Segment depreciation and amortization | 30,636,000 | 28,207,000 | 89,816,000 | 85,349,000 |
Income (Loss) From Equity Method Investments | 1,200,000 | 1,101,000 | 1,859,000 | 3,983,000 |
Segment Assets | 3,669,248,000 | 3,437,731,000 | 3,669,248,000 | 3,437,731,000 |
thereof investment in equity method investees | 238,947,000 | 238,542,000 | ||
Capital expenditures, acquisitions and investments | 41,881,000 | 53,235,000 | 145,651,000 | 125,419,000 |
Asia-Pacific Segment [Member] | ||||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | 427,224,000 | 377,981,000 | 1,198,315,000 | 1,107,119,000 |
Revenues from transactions with other same entity operating segments | 8,000 | 2,000 | 18,000 | 20,000 |
Segment revenue | 427,232,000 | 377,983,000 | 1,198,333,000 | 1,107,139,000 |
Segment operating income | 84,703,000 | 67,552,000 | 224,671,000 | 219,098,000 |
Segment depreciation and amortization | 12,474,000 | 11,070,000 | 36,073,000 | 33,505,000 |
Income (Loss) From Equity Method Investments | 1,163,000 | 652,000 | 936,000 | 1,848,000 |
Segment Assets | 1,956,653,000 | 1,752,893,000 | 1,956,653,000 | 1,752,893,000 |
thereof investment in equity method investees | 112,555,000 | 111,784,000 | ||
Capital expenditures, acquisitions and investments | 20,627,000 | 9,530,000 | 38,482,000 | 33,465,000 |
Latin America Segment [Member] | ||||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | 191,670,000 | 175,573,000 | 519,888,000 | 576,145,000 |
Revenues from transactions with other same entity operating segments | 50,000 | 148,000 | 148,000 | 392,000 |
Segment revenue | 191,720,000 | 175,721,000 | 520,036,000 | 576,537,000 |
Segment operating income | 20,032,000 | (8,170,000) | 47,178,000 | 25,398,000 |
Segment depreciation and amortization | 4,663,000 | 2,326,000 | 12,511,000 | 11,375,000 |
Income (Loss) From Equity Method Investments | 504,000 | 411,000 | 1,175,000 | 824,000 |
Segment Assets | 751,451,000 | 616,199,000 | 751,451,000 | 616,199,000 |
thereof investment in equity method investees | 27,626,000 | 26,050,000 | ||
Capital expenditures, acquisitions and investments | 13,714,000 | 14,144,000 | 29,532,000 | 25,045,000 |
Segments Total | ||||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | 4,594,599,000 | 4,224,961,000 | 13,212,541,000 | 12,368,396,000 |
Revenues from transactions with other same entity operating segments | 946,000 | 1,796,000 | 3,190,000 | 4,884,000 |
Segment revenue | 4,595,545,000 | 4,226,757,000 | 13,215,731,000 | 12,373,280,000 |
Segment operating income | 766,162,000 | 704,669,000 | 2,151,934,000 | 1,933,598,000 |
Segment depreciation and amortization | 156,233,000 | 142,445,000 | 456,074,000 | 429,140,000 |
Income (Loss) From Equity Method Investments | 29,031,000 | 9,037,000 | 61,073,000 | 22,038,000 |
Segment Assets | 24,375,612,000 | 22,751,295,000 | 24,375,612,000 | 22,751,295,000 |
thereof investment in equity method investees | 709,814,000 | 667,699,000 | ||
Capital expenditures, acquisitions and investments | 268,562,000 | 217,035,000 | 955,544,000 | 611,458,000 |
Corporate [Member] | ||||
Entity-Wide Information, Revenue from External Customer [Line Items] | ||||
Net revenue from external customers | 3,642,000 | 6,390,000 | 11,517,000 | 21,618,000 |
Revenues from transactions with other same entity operating segments | (946,000) | (1,796,000) | (3,190,000) | (4,884,000) |
Segment revenue | 2,696,000 | 4,594,000 | 8,327,000 | 16,734,000 |
Segment operating income | (96,220,000) | (91,139,000) | (300,611,000) | (268,705,000) |
Segment depreciation and amortization | 40,358,000 | 37,393,000 | 116,509,000 | 107,511,000 |
Income (Loss) From Equity Method Investments | 0 | 0 | 0 | 0 |
Segment Assets | 2,282,873,000 | 2,400,678,000 | 2,282,873,000 | 2,400,678,000 |
thereof investment in equity method investees | 0 | 0 | ||
Capital expenditures, acquisitions and investments | $ 55,701,000 | $ 77,667,000 | $ 179,066,000 | $ 201,586,000 |
Supplementary Cash Flow Infor51
Supplementary Cash Flow Information (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Supplementary cash flow information: | ||
Cash paid for interest | $ 345,892,000 | $ 341,496,000 |
Cash paid for income taxes, net of tax refund | 502,163,000 | 372,711,000 |
Tax Benefit From Stock Options Exercised 1 | 8,469,000 | 13,859,000 |
Supplemental disclosures of cash flow information, details for acquisitions: | ||
Acquisition purchase price allocation assets acquired | (465,121,000) | (159,535,000) |
Acquisition purchase price allocation liabilities assumed | 67,378,000 | 35,233,000 |
Noncontrolling interest subject to put provisions | 43,897,000 | 8,358,000 |
Noncontrolling interest | 15,119,000 | 956,000 |
Acquisition purchase price allocation notes payable and long term debt | 79,993,000 | 49,324,000 |
Cash paid | 258,734,000 | 65,664,000 |
Less cash acquired | 15,377,000 | 3,316,000 |
Net cash paid for acquisitions | (243,357,000) | (62,348,000) |
Cash Paid For Investments | (133,844,000) | (78,372,000) |
Cash paid for intangible assets | (9,767,000) | (24,974,000) |
Cash paid for acquisitions and investments net of cash acquired and purchases of intangible assets | $ (386,968,000) | $ (165,694,000) |
Supplemental Condensed Combin52
Supplemental Condensed Combining Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Jan. 01, 2016 | Dec. 31, 2015 | Jan. 01, 2015 | Dec. 31, 2014 | |
Consolidated Statements of Income | ||||||||
Net revenue | $ 4,598,241,000 | $ 4,231,351,000 | $ 13,224,058,000 | $ 12,390,014,000 | ||||
Cost of revenues | 3,126,583,000 | 2,849,589,000 | 9,036,221,000 | 8,526,935,000 | ||||
Gross profit | 1,471,658,000 | 1,381,762,000 | 4,187,837,000 | 3,863,079,000 | ||||
Operating expenses: | ||||||||
Research and development | 43,898,000 | 34,939,000 | 120,136,000 | 100,360,000 | ||||
Operating income | 669,942,000 | 613,530,000 | 1,851,323,000 | 1,664,893,000 | ||||
Other (income) expense: | ||||||||
Income before income taxes | 569,922,000 | 514,085,000 | 1,543,518,000 | 1,361,382,000 | ||||
Income tax expense | 164,233,000 | 168,434,000 | 470,933,000 | 441,667,000 | ||||
Net Income | 405,689,000 | 345,651,000 | 1,072,585,000 | 919,715,000 | ||||
Less: Net income attributable to noncontrolling interests | 72,511,000 | 83,331,000 | 217,441,000 | 207,079,000 | ||||
Income attributable to the Company | 333,178,000 | 262,320,000 | 855,144,000 | 712,636,000 | ||||
Current assets: | ||||||||
Cash and cash equivalents | 629,837,000 | 621,377,000 | 629,837,000 | 621,377,000 | $ 549,500,000 | $ 549,500,000 | $ 633,855,000 | |
Trade accounts receivable less allowance for doubtful accounts of $553,011 in 2016 and $465,790 in 2015 | 3,620,554,000 | 3,620,554,000 | 3,285,196,000 | |||||
Accounts receivable from related parties | 171,463,000 | 171,463,000 | 218,285,000 | |||||
Inventories | 1,406,594,000 | 1,406,594,000 | 1,340,751,000 | |||||
Prepaid expenses and other current assets | 1,389,950,000 | 1,389,950,000 | 1,374,715,000 | |||||
Deferred tax asset, current | 0 | 0 | 0 | |||||
Total current assets | 7,218,398,000 | 7,218,398,000 | 6,768,447,000 | |||||
Property, plant and equipment, net | 3,734,628,000 | 3,734,628,000 | 3,425,574,000 | |||||
Intangible assets | 818,654,000 | 818,654,000 | 830,489,000 | |||||
Goodwill | 13,487,911,000 | 13,487,911,000 | 13,032,750,000 | |||||
Deferred tax asset, non-current | 193,235,000 | 193,235,000 | 188,833,000 | |||||
Total assets | 26,658,485,000 | 26,658,485,000 | 25,365,254,000 | |||||
Current liabilities: | ||||||||
Accounts payable | 527,424,000 | 527,424,000 | 627,828,000 | |||||
Accounts payable to related parties | 257,960,000 | 257,960,000 | 153,023,000 | |||||
Accrued expenses and other current liabilities | 2,631,279,000 | 2,631,279,000 | 2,503,137,000 | |||||
Short-term debt and other financial liabilities | 721,246,000 | 721,246,000 | 109,252,000 | |||||
Short Term Debt Due To Related Parties Current | 98,886,000 | 98,886,000 | 19,052,000 | |||||
Current portion of long-term debt and capital lease obligations | 891,299,000 | 891,299,000 | 664,335,000 | |||||
Income tax payable, current | 125,716,000 | 125,716,000 | 72,819,000 | |||||
Deferred tax liability, current | 0 | 0 | 0 | |||||
Total current liabilities | 5,253,810,000 | 5,253,810,000 | 4,149,446,000 | |||||
Total long-term debt less current maturities | 7,174,008,000 | 7,174,008,000 | 7,853,487,000 | |||||
Other liabilities | 545,721,000 | 545,721,000 | 465,625,000 | |||||
Pension liabilities | 514,480,000 | 514,480,000 | 585,328,000 | |||||
Income tax payable, non-current | 128,397,000 | 128,397,000 | 162,500,000 | |||||
Deferred tax liability, non-current | 581,721,000 | 581,721,000 | 624,500,000 | |||||
Total liabilities | 14,198,137,000 | 14,198,137,000 | 13,840,886,000 | |||||
Noncontrolling interests subject to put provisions | 1,222,643,000 | 1,222,643,000 | 1,028,368,000 | $ 824,658,000 | ||||
Total Company shareholders' equity | 10,591,583,000 | 10,591,583,000 | 9,887,142,000 | |||||
Noncontrolling interests not subject to put provisions | 646,122,000 | 646,122,000 | 608,858,000 | |||||
Total equity | 11,237,705,000 | 11,237,705,000 | 10,496,000,000 | $ 10,028,371,000 | ||||
Total liabilities and equity | 26,658,485,000 | 26,658,485,000 | 25,365,254,000 | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | 405,689,000 | 345,651,000 | 1,072,585,000 | 919,715,000 | ||||
Total comprehensive income | 435,362,000 | 220,137,000 | 1,236,668,000 | 716,173,000 | ||||
Comprehensive income attributable to noncontrolling interests | 73,418,000 | 82,726,000 | 221,404,000 | 203,387,000 | ||||
Comprehensive income attributable to the Company | 361,944,000 | $ 137,411,000 | 1,015,264,000 | 512,786,000 | ||||
Issuers [Member] | FMC US Finance [Member] | ||||||||
Other (income) expense: | ||||||||
Interest, net | 5,344,000 | 5,236,000 | ||||||
Income before income taxes | 5,344,000 | 5,236,000 | ||||||
Income tax expense | 1,939,000 | 1,900,000 | ||||||
Net Income | 3,405,000 | 3,336,000 | ||||||
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 | 3,405,000 | 3,336,000 | ||||||
Current assets: | ||||||||
Cash and cash equivalents | 1,000 | 1,000 | 2,000 | $ 2,000 | ||||
Accounts receivable from related parties | 1,248,414,000 | 1,248,414,000 | 1,266,557,000 | |||||
Total current assets | 1,248,415,000 | 1,248,415,000 | 1,266,559,000 | |||||
Total assets | 1,248,415,000 | 1,248,415,000 | 1,266,559,000 | |||||
Current liabilities: | ||||||||
Accrued expenses and other current liabilities | 11,833,000 | 11,833,000 | 29,771,000 | |||||
Total current liabilities | 515,737,000 | 515,737,000 | 29,771,000 | |||||
Total long-term debt less current maturities | 650,000,000 | 650,000,000 | 1,157,603,000 | |||||
Income tax payable, non-current | 890,000 | 890,000 | 801,000 | |||||
Total liabilities | 1,166,627,000 | 1,166,627,000 | 1,188,175,000 | |||||
Total Company shareholders' equity | 81,788,000 | 81,788,000 | 78,384,000 | |||||
Total equity | 81,788,000 | 81,788,000 | 78,384,000 | |||||
Total liabilities and equity | 1,248,415,000 | 1,248,415,000 | 1,266,559,000 | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | 3,405,000 | 3,336,000 | ||||||
Other comprehensive income (loss) - net | 0 | 0 | ||||||
Total comprehensive income | 3,405,000 | 3,336,000 | ||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | ||||||
Comprehensive income attributable to the Company | 3,405,000 | 3,336,000 | ||||||
Guarantors [Member] | Total FMC-AG and Co. KGaA [Member] | ||||||||
Operating expenses: | ||||||||
Selling, general and administrative | 147,631,000 | 141,963,000 | ||||||
Operating income | (147,631,000) | (141,963,000) | ||||||
Other (income) expense: | ||||||||
Interest, net | (140,489,000) | (153,670,000) | ||||||
Other, net | 1,173,243,000 | 1,015,723,000 | ||||||
Income before income taxes | 885,123,000 | 720,090,000 | ||||||
Income tax expense | 29,979,000 | 7,454,000 | ||||||
Net Income | 855,144,000 | 712,636,000 | ||||||
Gain (loss) related to cash flow hedges | 19,381,000 | 29,944,000 | ||||||
Defined Benefit Plan Actuarial Gain Loss | 301,000 | 296,000 | ||||||
Gain (loss) related to foreign currency | (78,627,000) | (118,003,000) | ||||||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (5,660,000) | (8,685,000) | ||||||
Income attributable to the Company | 855,144,000 | 712,636,000 | ||||||
Current assets: | ||||||||
Cash and cash equivalents | 13,000 | 13,000 | 448,000 | |||||
Accounts receivable from related parties | 1,167,351,000 | 1,167,351,000 | 985,449,000 | |||||
Prepaid expenses and other current assets | 66,220,000 | 66,220,000 | 91,902,000 | |||||
Total current assets | 1,233,584,000 | 1,233,584,000 | 1,077,799,000 | |||||
Property, plant and equipment, net | 613,000 | 613,000 | 595,000 | |||||
Intangible assets | 1,247,000 | 1,247,000 | 1,653,000 | |||||
Goodwill | 0 | 0 | ||||||
Deferred tax asset, non-current | 112,580,000 | 112,580,000 | 91,392,000 | |||||
Other assets | 14,866,993,000 | 14,866,993,000 | 13,950,467,000 | |||||
Total assets | 16,215,017,000 | 16,215,017,000 | 15,121,906,000 | |||||
Current liabilities: | ||||||||
Accounts payable | 1,107,000 | 1,107,000 | 7,233,000 | |||||
Accounts payable to related parties | 265,389,000 | 265,389,000 | 277,986,000 | |||||
Accrued expenses and other current liabilities | 75,545,000 | 75,545,000 | 61,216,000 | |||||
Short-term debt and other financial liabilities | 888,797,000 | 888,797,000 | 0 | |||||
Short Term Debt Due To Related Parties Current | 1,175,644,000 | 1,175,644,000 | 1,757,402,000 | |||||
Current portion of long-term debt and capital lease obligations | 26,786,000 | 26,786,000 | 25,228,000 | |||||
Income tax payable, current | 12,199,000 | 12,199,000 | 20,898,000 | |||||
Deferred tax liability, current | 0 | |||||||
Total current liabilities | 2,445,467,000 | 2,445,467,000 | 2,149,963,000 | |||||
Total long-term debt less current maturities | 669,194,000 | 669,194,000 | 663,515,000 | |||||
Long term borrowings from related parties | 2,333,897,000 | 2,333,897,000 | 2,276,600,000 | |||||
Other liabilities | 109,224,000 | 109,224,000 | 117,444,000 | |||||
Pension liabilities | 16,923,000 | 16,923,000 | 15,342,000 | |||||
Income tax payable, non-current | 48,729,000 | 48,729,000 | 11,900,000 | |||||
Total liabilities | 5,623,434,000 | 5,623,434,000 | 5,234,764,000 | |||||
Total Company shareholders' equity | 10,591,583,000 | 10,591,583,000 | 9,887,142,000 | |||||
Total equity | 10,591,583,000 | 10,591,583,000 | 9,887,142,000 | |||||
Total liabilities and equity | 16,215,017,000 | 16,215,017,000 | 15,121,906,000 | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | 855,144,000 | 712,636,000 | ||||||
Other comprehensive income (loss) - net | (64,605,000) | (96,448,000) | ||||||
Total comprehensive income | 790,539,000 | 616,188,000 | ||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | ||||||
Comprehensive income attributable to the Company | 790,539,000 | 616,188,000 | ||||||
Guarantors [Member] | D GmbH [Member] | ||||||||
Consolidated Statements of Income | ||||||||
Net revenue | 1,423,176,000 | 1,391,965,000 | ||||||
Cost of revenues | 903,280,000 | 893,319,000 | ||||||
Gross profit | 519,896,000 | 498,646,000 | ||||||
Operating expenses: | ||||||||
Selling, general and administrative | 159,567,000 | 148,544,000 | ||||||
Research and development | 66,232,000 | 53,941,000 | ||||||
Operating income | 294,097,000 | 296,161,000 | ||||||
Other (income) expense: | ||||||||
Interest, net | 2,921,000 | (3,182,000) | ||||||
Other, net | (200,639,000) | (201,874,000) | ||||||
Income before income taxes | 96,379,000 | 97,469,000 | ||||||
Income tax expense | 87,829,000 | 89,153,000 | ||||||
Net Income | 8,550,000 | 8,316,000 | ||||||
Gain (loss) related to cash flow hedges | 2,177,000 | 0 | ||||||
Defined Benefit Plan Actuarial Gain Loss | 5,097,000 | 5,360,000 | ||||||
Gain (loss) related to foreign currency | 14,487,000 | (47,431,000) | ||||||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (2,159,000) | (1,588,000) | ||||||
Income attributable to the Company | 8,550,000 | 8,316,000 | ||||||
Current assets: | ||||||||
Cash and cash equivalents | 330,000 | 330,000 | 5,055,000 | |||||
Trade accounts receivable less allowance for doubtful accounts of $553,011 in 2016 and $465,790 in 2015 | 168,590,000 | 168,590,000 | 144,105,000 | |||||
Accounts receivable from related parties | 884,668,000 | 884,668,000 | 682,359,000 | |||||
Inventories | 267,842,000 | 267,842,000 | 233,012,000 | |||||
Prepaid expenses and other current assets | 75,468,000 | 75,468,000 | 60,024,000 | |||||
Total current assets | 1,396,898,000 | 1,396,898,000 | 1,124,555,000 | |||||
Property, plant and equipment, net | 288,195,000 | 288,195,000 | 267,926,000 | |||||
Intangible assets | 48,614,000 | 48,614,000 | 51,593,000 | |||||
Goodwill | 54,717,000 | 54,717,000 | 49,599,000 | |||||
Deferred tax asset, non-current | 32,885,000 | 32,885,000 | 27,626,000 | |||||
Other assets | 45,046,000 | 45,046,000 | 43,452,000 | |||||
Total assets | 1,866,355,000 | 1,866,355,000 | 1,564,751,000 | |||||
Current liabilities: | ||||||||
Accounts payable | 27,291,000 | 27,291,000 | 22,914,000 | |||||
Accounts payable to related parties | 708,475,000 | 708,475,000 | 497,410,000 | |||||
Accrued expenses and other current liabilities | 146,480,000 | 146,480,000 | 118,047,000 | |||||
Current portion of long-term debt and capital lease obligations | 1,294,000 | 1,294,000 | ||||||
Deferred tax liability, current | 0 | |||||||
Total current liabilities | 883,540,000 | 883,540,000 | 638,371,000 | |||||
Total long-term debt less current maturities | 4,597,000 | 4,597,000 | ||||||
Other liabilities | 1,441,000 | 1,441,000 | 1,612,000 | |||||
Pension liabilities | 338,854,000 | 338,854,000 | 315,171,000 | |||||
Total liabilities | 1,228,432,000 | 1,228,432,000 | 955,154,000 | |||||
Total Company shareholders' equity | 637,923,000 | 637,923,000 | 609,597,000 | |||||
Total equity | 637,923,000 | 637,923,000 | 609,597,000 | |||||
Total liabilities and equity | 1,866,355,000 | 1,866,355,000 | 1,564,751,000 | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | 8,550,000 | 8,316,000 | ||||||
Other comprehensive income (loss) - net | 19,602,000 | (43,659,000) | ||||||
Total comprehensive income | 28,152,000 | (35,343,000) | ||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | ||||||
Comprehensive income attributable to the Company | 28,152,000 | (35,343,000) | ||||||
Guarantors [Member] | FMCH [Member] | ||||||||
Operating expenses: | ||||||||
Selling, general and administrative | (37,729,000) | 170,985,000 | ||||||
Operating income | 37,729,000 | (170,985,000) | ||||||
Other (income) expense: | ||||||||
Interest, net | (174,012,000) | (170,360,000) | ||||||
Other, net | 674,201,000 | 598,506,000 | ||||||
Income before income taxes | 537,918,000 | 257,161,000 | ||||||
Income tax expense | (53,764,000) | (134,661,000) | ||||||
Net Income | 591,682,000 | 391,822,000 | ||||||
Gain (loss) related to cash flow hedges | 0 | 0 | ||||||
Defined Benefit Plan Actuarial Gain Loss | 17,185,000 | 19,800,000 | ||||||
Gain (loss) related to foreign currency | 0 | 0 | ||||||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | (6,780,000) | (7,811,000) | ||||||
Income attributable to the Company | 591,682,000 | 391,822,000 | ||||||
Current assets: | ||||||||
Cash and cash equivalents | 0 | 0 | ||||||
Accounts receivable from related parties | 2,390,002,000 | 2,390,002,000 | 2,434,976,000 | |||||
Prepaid expenses and other current assets | 33,000 | 33,000 | 983,000 | |||||
Total current assets | 2,390,035,000 | 2,390,035,000 | 2,435,959,000 | |||||
Other assets | 13,843,126,000 | 13,843,126,000 | 13,256,088,000 | |||||
Total assets | 16,233,161,000 | 16,233,161,000 | 15,692,047,000 | |||||
Current liabilities: | ||||||||
Accounts payable to related parties | 1,652,439,000 | 1,652,439,000 | 1,668,390,000 | |||||
Accrued expenses and other current liabilities | 11,001,000 | 11,001,000 | 15,527,000 | |||||
Current portion of long-term debt and capital lease obligations | 200,000,000 | 200,000,000 | 200,000,000 | |||||
Total current liabilities | 1,863,440,000 | 1,863,440,000 | 1,883,917,000 | |||||
Total long-term debt less current maturities | 1,947,776,000 | 1,947,776,000 | 2,113,544,000 | |||||
Long term borrowings from related parties | 2,721,696,000 | 2,721,696,000 | 2,680,741,000 | |||||
Other liabilities | 423,440,000 | 423,440,000 | 488,142,000 | |||||
Total liabilities | 6,956,352,000 | 6,956,352,000 | 7,166,344,000 | |||||
redeemable preferred stock | (235,141,000) | (235,141,000) | 235,141,000 | |||||
Total Company shareholders' equity | 9,041,668,000 | 9,041,668,000 | 8,290,562,000 | |||||
Total equity | 9,041,668,000 | 9,041,668,000 | 8,290,562,000 | |||||
Total liabilities and equity | 16,233,161,000 | 16,233,161,000 | 15,692,047,000 | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | 591,682,000 | 391,822,000 | ||||||
Other comprehensive income (loss) - net | 10,405,000 | 11,989,000 | ||||||
Total comprehensive income | 602,087,000 | 403,811,000 | ||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | ||||||
Comprehensive income attributable to the Company | 602,087,000 | 403,811,000 | ||||||
Non Guarantor Subsidiaries [Member] | ||||||||
Consolidated Statements of Income | ||||||||
Net revenue | 14,219,979,000 | 13,234,250,000 | ||||||
Cost of revenues | 10,531,770,000 | 9,870,460,000 | ||||||
Gross profit | 3,688,209,000 | 3,363,790,000 | ||||||
Operating expenses: | ||||||||
Selling, general and administrative | 1,937,593,000 | 1,629,919,000 | ||||||
Research and development | 53,904,000 | 46,419,000 | ||||||
Operating income | 1,696,712,000 | 1,687,452,000 | ||||||
Other (income) expense: | ||||||||
Interest, net | (1,569,000) | 12,112,000 | ||||||
Income before income taxes | 1,695,143,000 | 1,699,564,000 | ||||||
Income tax expense | 629,058,000 | 639,635,000 | ||||||
Net Income | 1,066,085,000 | 1,059,929,000 | ||||||
Gain (loss) related to cash flow hedges | (1,170,000) | 13,627,000 | ||||||
Defined Benefit Plan Actuarial Gain Loss | 470,000 | 539,000 | ||||||
Gain (loss) related to foreign currency | 203,456,000 | (101,599,000) | ||||||
Income Tax Expense Benefit Related To Components Of Other Comprehensive Income | 76,000 | (4,076,000) | ||||||
Less: Net income attributable to noncontrolling interests | 217,441,000 | 207,079,000 | ||||||
Income attributable to the Company | 848,644,000 | 852,850,000 | ||||||
Current assets: | ||||||||
Cash and cash equivalents | 902,807,000 | 902,807,000 | 544,443,000 | |||||
Trade accounts receivable less allowance for doubtful accounts of $553,011 in 2016 and $465,790 in 2015 | 3,452,640,000 | 3,452,640,000 | 3,140,355,000 | |||||
Accounts receivable from related parties | 3,621,964,000 | 3,621,964,000 | 4,002,451,000 | |||||
Inventories | 1,311,012,000 | 1,311,012,000 | 1,256,252,000 | |||||
Prepaid expenses and other current assets | 1,207,397,000 | 1,207,397,000 | 1,186,883,000 | |||||
Deferred tax asset, current | 0 | |||||||
Total current assets | 10,495,820,000 | 10,495,820,000 | 10,130,384,000 | |||||
Property, plant and equipment, net | 3,552,565,000 | 3,552,565,000 | 3,260,604,000 | |||||
Intangible assets | 768,871,000 | 768,871,000 | 777,319,000 | |||||
Goodwill | 13,433,194,000 | 13,433,194,000 | 12,983,151,000 | |||||
Deferred tax asset, non-current | 176,160,000 | 176,160,000 | 221,211,000 | |||||
Other assets | 6,297,842,000 | 6,297,842,000 | 6,372,300,000 | |||||
Total assets | 34,724,452,000 | 34,724,452,000 | 33,744,969,000 | |||||
Current liabilities: | ||||||||
Accounts payable | 499,026,000 | 499,026,000 | 597,681,000 | |||||
Accounts payable to related parties | 5,952,752,000 | 5,952,752,000 | 5,386,272,000 | |||||
Accrued expenses and other current liabilities | 2,387,799,000 | 2,387,799,000 | 2,285,939,000 | |||||
Short-term debt and other financial liabilities | 107,445,000 | 107,445,000 | 109,700,000 | |||||
Short Term Debt Due To Related Parties Current | 0 | 0 | 0 | |||||
Current portion of long-term debt and capital lease obligations | 159,315,000 | 159,315,000 | 439,107,000 | |||||
Income tax payable, current | 105,365,000 | 105,365,000 | 51,921,000 | |||||
Deferred tax liability, current | 0 | |||||||
Total current liabilities | 9,211,702,000 | 9,211,702,000 | 8,870,620,000 | |||||
Total long-term debt less current maturities | 6,398,359,000 | 6,398,359,000 | 6,657,108,000 | |||||
Long term borrowings from related parties | 0 | 0 | 0 | |||||
Other liabilities | (24,402,000) | (24,402,000) | (176,998,000) | |||||
Pension liabilities | 189,226,000 | 189,226,000 | 284,589,000 | |||||
Income tax payable, non-current | (11,975,000) | (11,975,000) | 22,060,000 | |||||
Deferred tax liability, non-current | 617,044,000 | 617,044,000 | 693,815,000 | |||||
Total liabilities | 16,379,954,000 | 16,379,954,000 | 16,351,194,000 | |||||
Noncontrolling interests subject to put provisions | 1,222,643,000 | 1,222,643,000 | 1,028,368,000 | |||||
redeemable preferred stock | (235,141,000) | (235,141,000) | (235,141,000) | |||||
Total Company shareholders' equity | 16,710,874,000 | 16,710,874,000 | 15,991,690,000 | |||||
Noncontrolling interests not subject to put provisions | 646,122,000 | 646,122,000 | 608,858,000 | |||||
Total equity | 17,356,996,000 | 17,356,996,000 | 16,600,548,000 | |||||
Total liabilities and equity | 34,724,452,000 | 34,724,452,000 | 33,744,969,000 | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | 1,066,085,000 | 1,059,929,000 | ||||||
Other comprehensive income (loss) - net | 202,832,000 | (91,509,000) | ||||||
Total comprehensive income | 1,268,917,000 | 968,420,000 | ||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | ||||||
Comprehensive income attributable to the Company | 1,268,917,000 | 968,420,000 | ||||||
Combining Adjustment [Member] | ||||||||
Consolidated Statements of Income | ||||||||
Net revenue | (2,419,097,000) | (2,236,201,000) | ||||||
Cost of revenues | (2,398,829,000) | (2,236,844,000) | ||||||
Gross profit | (20,268,000) | 643,000 | ||||||
Operating expenses: | ||||||||
Selling, general and administrative | 9,316,000 | 6,415,000 | ||||||
Operating income | (29,584,000) | (5,772,000) | ||||||
Other (income) expense: | ||||||||
Other, net | (1,646,805,000) | (1,412,355,000) | ||||||
Income before income taxes | (1,676,389,000) | (1,418,138,000) | ||||||
Income tax expense | (224,108,000) | (161,814,000) | ||||||
Net Income | (1,452,281,000) | (1,256,324,000) | ||||||
Gain (loss) related to cash flow hedges | 0 | 0 | ||||||
Defined Benefit Plan Actuarial Gain Loss | 0 | 0 | ||||||
Gain (loss) related to foreign currency | (4,151,000) | 16,085,000 | ||||||
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 | (1,452,281,000) | (1,256,324,000) | ||||||
Current assets: | ||||||||
Cash and cash equivalents | (273,314,000) | (273,314,000) | (448,000) | |||||
Trade accounts receivable less allowance for doubtful accounts of $553,011 in 2016 and $465,790 in 2015 | (676,000) | (676,000) | 736,000 | |||||
Accounts receivable from related parties | (9,140,936,000) | (9,140,936,000) | (9,153,507,000) | |||||
Inventories | (172,260,000) | (172,260,000) | (148,513,000) | |||||
Prepaid expenses and other current assets | 40,832,000 | 40,832,000 | 34,923,000 | |||||
Deferred tax asset, current | 0 | |||||||
Total current assets | (9,546,354,000) | (9,546,354,000) | (9,266,809,000) | |||||
Property, plant and equipment, net | (106,745,000) | (106,745,000) | (103,551,000) | |||||
Intangible assets | (78,000) | (78,000) | (76,000) | |||||
Deferred tax asset, non-current | (128,390,000) | (128,390,000) | (151,396,000) | |||||
Other assets | (33,847,348,000) | (33,847,348,000) | (32,503,146,000) | |||||
Total assets | (43,628,915,000) | (43,628,915,000) | (42,024,978,000) | |||||
Current liabilities: | ||||||||
Accounts payable to related parties | (8,321,095,000) | (8,321,095,000) | (7,677,035,000) | |||||
Accrued expenses and other current liabilities | (1,379,000) | (1,379,000) | (7,363,000) | |||||
Short-term debt and other financial liabilities | (274,996,000) | (274,996,000) | (448,000) | |||||
Short Term Debt Due To Related Parties Current | (1,076,758,000) | (1,076,758,000) | (1,738,350,000) | |||||
Income tax payable, current | 8,152,000 | 8,152,000 | ||||||
Deferred tax liability, current | 0 | |||||||
Total current liabilities | (9,666,076,000) | (9,666,076,000) | (9,423,196,000) | |||||
Total long-term debt less current maturities | (2,495,918,000) | (2,495,918,000) | (2,738,283,000) | |||||
Long term borrowings from related parties | (5,055,593,000) | (5,055,593,000) | (4,957,341,000) | |||||
Other liabilities | 36,018,000 | 36,018,000 | 35,425,000 | |||||
Pension liabilities | (30,523,000) | (30,523,000) | (29,774,000) | |||||
Income tax payable, non-current | 90,753,000 | 90,753,000 | 127,739,000 | |||||
Deferred tax liability, non-current | (35,323,000) | (35,323,000) | (69,315,000) | |||||
Total liabilities | (17,156,662,000) | (17,156,662,000) | (17,054,745,000) | |||||
Total Company shareholders' equity | (26,472,253,000) | (26,472,253,000) | (24,970,233,000) | |||||
Total equity | (26,472,253,000) | (26,472,253,000) | (24,970,233,000) | |||||
Total liabilities and equity | $ (43,628,915,000) | (43,628,915,000) | $ (42,024,978,000) | |||||
Consolidated Statements of Comprehensive Income | ||||||||
Net Income | (1,452,281,000) | (1,256,324,000) | ||||||
Other comprehensive income (loss) - net | 4,151,000 | (16,085,000) | ||||||
Total comprehensive income | (1,456,432,000) | (1,240,239,000) | ||||||
Comprehensive income attributable to noncontrolling interests | (221,404,000) | 203,387,000 | ||||||
Comprehensive income attributable to the Company | $ (1,677,836,000) | $ (1,443,626,000) |
Supplemental Condensed Combin53
Supplemental Condensed Combining Information (Details 1) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Activities: | ||||
Net Income | $ 405,689,000 | $ 345,651,000 | $ 1,072,585,000 | $ 919,715,000 |
Income (Loss) From Equity Method Investments | 29,031,000 | 9,037,000 | 61,073,000 | 22,038,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 572,583,000 | 536,651,000 | ||
Change in deferred taxes, net | (54,899,000) | (103,203,000) | ||
Stock Option Compensation Expense | 26,308,000 | 5,902,000 | ||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Trade accounts receivable, net | 269,958,000 | (273,337,000) | ||
Inventories, net | 45,188,000 | (265,595,000) | ||
Prepaid expenses, other current and non-current assets | (32,842,000) | 284,718,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (63,275,000) | 247,618,000 | ||
Income tax payable | 2,411,000 | (26,518,000) | ||
Net cash provided by (used in) operating activities | 1,296,316,000 | 1,411,724,000 | ||
Investing Activities: | ||||
Purchases of property, plant and equipment | 747,642,000 | 647,350,000 | ||
Proceeds from sale of property, plant and equipment | 13,586,000 | 11,167,000 | ||
Net cash paid for acquisitions, investments and intangible assets | 386,968,000 | (165,694,000) | ||
Proceeds from divestitures | 193,135,000 | 42,513,000 | ||
Net cash (used in) provided by investing activities | (927,889,000) | (759,364,000) | ||
Financing Activities: | ||||
Increase (decrease) of accounts receivable securitization program | 51,000,000 | (45,750,000) | ||
Proceeds from exercise of stock options | 46,522,000 | 67,234,000 | ||
Payment of dividends | 277,176,000 | 263,244,000 | ||
Distributions to Noncontrolling interests | (234,742,000) | (201,884,000) | ||
Contributions from noncontrolling interests | 72,462,000 | 34,299,000 | ||
Cash provided by (used in) financing activities | (317,821,000) | (634,271,000) | ||
Effect of exchange rate changes on cash and cash equivalents | 29,731,000 | (30,567,000) | ||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | 80,337,000 | (12,478,000) | ||
Cash and cash equivalents at beginning of period | 549,500,000 | |||
Cash and cash equivalents at end of period | 629,837,000 | $ 621,377,000 | 629,837,000 | 621,377,000 |
Guarantor 1 [Member] | ||||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | 0 | |||
Total FMC-AG and Co. KGaA [Member] | ||||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | (101,000) | |||
D GmbH [Member] | ||||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | 380,000 | |||
Issuers [Member] | FMC US Finance [Member] | ||||
Operating Activities: | ||||
Net Income | 3,405,000 | 3,336,000 | ||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Accounts receivable from/payable to related parties | 19,596,000 | 19,611,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (17,937,000) | (17,939,000) | ||
Income tax payable | 89,000 | 80,000 | ||
Net cash provided by (used in) operating activities | 5,153,000 | 5,088,000 | ||
Financing Activities: | ||||
Long-term debt and capital lease obligations, net | (5,154,000) | (5,088,000) | ||
Cash provided by (used in) financing activities | (5,154,000) | (5,088,000) | ||
Effect of exchange rate changes on cash and cash equivalents | (1,000) | |||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | 0 | |||
Cash and cash equivalents at beginning of period | 2,000 | |||
Cash and cash equivalents at end of period | 1,000 | 1,000 | ||
Guarantors [Member] | Total FMC-AG and Co. KGaA [Member] | ||||
Operating Activities: | ||||
Net Income | 855,144,000 | 712,636,000 | ||
Income (Loss) From Equity Method Investments | (741,148,000) | (612,421,000) | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 636,000 | 410,000 | ||
Change in deferred taxes, net | (25,391,000) | (23,269,000) | ||
(Gain) Loss on sale of fixed assets and investments | (28,000) | (12,000) | ||
Stock Option Compensation Expense | 23,096,000 | 2,395,000 | ||
Write-off of loans from related parties | (415,000) | |||
Equity Method Investments 2 | 5,560,000 | |||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Prepaid expenses, other current and non-current assets | 73,101,000 | 39,897,000 | ||
Accounts receivable from/payable to related parties | (881,407,000) | 396,217,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (4,439,000) | 39,904,000 | ||
Income tax payable | 27,308,000 | (7,615,000) | ||
Net cash provided by (used in) operating activities | (673,543,000) | 553,702,000 | ||
Investing Activities: | ||||
Purchases of property, plant and equipment | (237,000) | (181,000) | ||
Proceeds from sale of property, plant and equipment | 73,000 | 26,000 | ||
Disbursements of loans to related parties | 183,821,000 | (314,328,000) | ||
Net cash paid for acquisitions, investments and intangible assets | (26,392,000) | (76,823,000) | ||
Proceeds from divestitures | 80,037,000 | 20,652,000 | ||
Net cash (used in) provided by investing activities | 237,302,000 | (370,654,000) | ||
Financing Activities: | ||||
Short-term borrowings, net | 690,092,000 | 64,992,000 | ||
Long-term debt and capital lease obligations, net | (20,092,000) | (20,001,000) | ||
Proceeds from exercise of stock options | 39,433,000 | 53,375,000 | ||
Payment of dividends | (277,176,000) | (263,244,000) | ||
Cash provided by (used in) financing activities | 432,257,000 | (164,878,000) | ||
Effect of exchange rate changes on cash and cash equivalents | 3,549,000 | (18,271,000) | ||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | (435,000) | (101,000) | ||
Cash and cash equivalents at beginning of period | 448,000 | |||
Cash and cash equivalents at end of period | 13,000 | 13,000 | ||
Guarantors [Member] | D GmbH [Member] | ||||
Operating Activities: | ||||
Net Income | 8,550,000 | 8,316,000 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 44,369,000 | (37,935,000) | ||
Change in deferred taxes, net | (7,077,000) | 415,000 | ||
(Gain) Loss on sale of fixed assets and investments | 23,000 | (81,000) | ||
Write-off of loans from related parties | (5,395,000) | |||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Trade accounts receivable, net | (20,860,000) | (22,366,000) | ||
Inventories, net | (28,968,000) | (17,353,000) | ||
Prepaid expenses, other current and non-current assets | (12,702,000) | (34,412,000) | ||
Accounts receivable from/payable to related parties | 215,007,000 | (184,948,000) | ||
Accounts payable, accrued expenses and other current and non-current liabilities | 50,258,000 | 48,169,000 | ||
Net cash provided by (used in) operating activities | 243,205,000 | (164,325,000) | ||
Investing Activities: | ||||
Purchases of property, plant and equipment | (59,105,000) | (60,096,000) | ||
Proceeds from sale of property, plant and equipment | 307,000 | 322,000 | ||
Disbursements of loans to related parties | 0 | |||
Net cash paid for acquisitions, investments and intangible assets | (271,000) | (572,000) | ||
Proceeds from divestitures | 0 | |||
Net cash (used in) provided by investing activities | (59,069,000) | (60,346,000) | ||
Financing Activities: | ||||
Short-term borrowings, net | (189,244,000) | 225,488,000 | ||
Long-term debt and capital lease obligations, net | 256,000 | |||
Cash provided by (used in) financing activities | (188,988,000) | 225,488,000 | ||
Effect of exchange rate changes on cash and cash equivalents | 127,000 | (437,000) | ||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | (4,725,000) | 380,000 | ||
Cash and cash equivalents at beginning of period | 5,055,000 | |||
Cash and cash equivalents at end of period | 330,000 | 330,000 | ||
Guarantors [Member] | FMCH [Member] | ||||
Operating Activities: | ||||
Net Income | 591,682,000 | 391,822,000 | ||
Income (Loss) From Equity Method Investments | (674,201,000) | (598,506,000) | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Income Loss From Equity Method Investments Net Of Dividends Or Distributions | (598,506,000) | |||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Prepaid expenses, other current and non-current assets | 34,698,000 | 173,705,000 | ||
Accounts receivable from/payable to related parties | 101,964,000 | 145,164,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (4,526,000) | (1,071,000) | ||
Income tax payable | (53,764,000) | (134,661,000) | ||
Net cash provided by (used in) operating activities | (4,147,000) | (23,547,000) | ||
Investing Activities: | ||||
Disbursements of loans to related parties | 301,151,000 | 275,700,000 | ||
Net cash paid for acquisitions, investments and intangible assets | 0 | |||
Net cash (used in) provided by investing activities | 301,151,000 | 275,700,000 | ||
Financing Activities: | ||||
Long-term debt and capital lease obligations, net | (297,004,000) | (252,153,000) | ||
Cash provided by (used in) financing activities | (297,004,000) | (252,153,000) | ||
Cash and Cash Equivalents: | ||||
Cash and cash equivalents at end of period | 0 | 0 | ||
Non Guarantor Subsidiaries [Member] | ||||
Operating Activities: | ||||
Net Income | 1,066,085,000 | 1,059,929,000 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 549,971,000 | 477,116,000 | ||
Change in deferred taxes, net | (17,762,000) | (77,168,000) | ||
(Gain) Loss on sale of fixed assets and investments | (3,090,000) | (5,084,000) | ||
Stock Option Compensation Expense | 3,212,000 | 3,507,000 | ||
Write-off of loans from related parties | 0 | |||
Equity Method Investments 2 | (55,749,000) | (16,282,000) | ||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Trade accounts receivable, net | (250,528,000) | (251,675,000) | ||
Inventories, net | (36,090,000) | (254,165,000) | ||
Prepaid expenses, other current and non-current assets | (64,362,000) | 105,446,000 | ||
Accounts receivable from/payable to related parties | 552,320,000 | (303,029,000) | ||
Accounts payable, accrued expenses and other current and non-current liabilities | (89,152,000) | 179,666,000 | ||
Income tax payable | 60,780,000 | 97,808,000 | ||
Net cash provided by (used in) operating activities | 1,715,635,000 | 1,016,069,000 | ||
Investing Activities: | ||||
Purchases of property, plant and equipment | (711,376,000) | (560,929,000) | ||
Proceeds from sale of property, plant and equipment | 13,206,000 | 10,819,000 | ||
Disbursements of loans to related parties | 0 | 0 | ||
Net cash paid for acquisitions, investments and intangible assets | (386,684,000) | (132,688,000) | ||
Proceeds from divestitures | 175,221,000 | 42,513,000 | ||
Net cash (used in) provided by investing activities | (909,633,000) | (640,285,000) | ||
Financing Activities: | ||||
Short-term borrowings, net | 453,081,000 | (250,724,000) | ||
Long-term debt and capital lease obligations, net | (715,798,000) | 57,149,000 | ||
Payments for repurchase of trust preferred securities | (45,750,000) | |||
Increase (decrease) of accounts receivable securitization program | (51,000,000) | 13,859,000 | ||
Proceeds from exercise of stock options | 7,089,000 | |||
Payment of dividends | (17,222,000) | |||
capital increase | 12,437,000 | 22,330,000 | ||
Distributions to Noncontrolling interests | (234,742,000) | (201,884,000) | ||
Contributions from noncontrolling interests | 72,462,000 | 34,299,000 | ||
Cash provided by (used in) financing activities | (473,693,000) | (370,721,000) | ||
Effect of exchange rate changes on cash and cash equivalents | 26,055,000 | (11,859,000) | ||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | 358,364,000 | (6,796,000) | ||
Cash and cash equivalents at beginning of period | 544,443,000 | |||
Cash and cash equivalents at end of period | 902,807,000 | 902,807,000 | ||
Combining Adjustment [Member] | ||||
Operating Activities: | ||||
Net Income | (1,452,281,000) | (1,256,324,000) | ||
Income (Loss) From Equity Method Investments | 1,415,349,000 | 1,210,927,000 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | (22,393,000) | 21,190,000 | ||
Change in deferred taxes, net | (4,669,000) | (3,181,000) | ||
Write-off of loans from related parties | 5,810,000 | |||
Changes in assets and liabilities, net of amounts from businesses acquired: | ||||
Trade accounts receivable, net | 1,430,000 | 704,000 | ||
Inventories, net | 19,870,000 | 5,923,000 | ||
Prepaid expenses, other current and non-current assets | 2,107,000 | 82,000 | ||
Accounts receivable from/payable to related parties | 74,271,000 | 28,657,000 | ||
Accounts payable, accrued expenses and other current and non-current liabilities | 2,521,000 | (1,111,000) | ||
Income tax payable | (32,002,000) | 17,870,000 | ||
Net cash provided by (used in) operating activities | 10,013,000 | 24,737,000 | ||
Investing Activities: | ||||
Purchases of property, plant and equipment | 23,076,000 | (26,144,000) | ||
Proceeds from sale of property, plant and equipment | 0 | 0 | ||
Disbursements of loans to related parties | (484,972,000) | 38,628,000 | ||
Net cash paid for acquisitions, investments and intangible assets | 26,379,000 | 44,389,000 | ||
Proceeds from divestitures | (62,123,000) | (20,652,000) | ||
Net cash (used in) provided by investing activities | (497,640,000) | 36,221,000 | ||
Financing Activities: | ||||
Short-term borrowings, net | (274,996,000) | (5,961,000) | ||
Long-term debt and capital lease obligations, net | 484,972,000 | (38,628,000) | ||
Payment of dividends | 17,222,000 | |||
capital increase | (12,437,000) | (22,330,000) | ||
Cash provided by (used in) financing activities | 214,761,000 | (66,919,000) | ||
Cash and Cash Equivalents: | ||||
(decrease) in cash and cash equivalents | (272,866,000) | $ (5,961,000) | ||
Cash and cash equivalents at beginning of period | (448,000) | |||
Cash and cash equivalents at end of period | $ (273,314,000) | $ (273,314,000) |