Fresenius Medical Care AG & Co. KGaA (FMS) 6-K 31 Oct 19 2019 Q3 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2019
Document And Entity Information [Abstract]
Document Period End Date	Sep. 30, 2019
Entity Registrant Name	FRESENIUS MEDICAL CARE AG & Co. KGaA
Entity Central Index Key	0001333141
Document Type	6-K
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated statements of inco

Consolidated statements of income - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue:
Health care services	€ 3,492,316	€ 3,258,131	€ 10,264,821	€ 9,851,733
Health care products	926,687	799,721	2,631,771	2,395,453
Revenue	4,419,003	4,057,852	12,896,592	12,247,186
Costs of revenue:
Health care services	2,666,246	2,415,140	7,777,401	7,380,034
Health care products	406,768	375,366	1,176,992	1,092,813
Costs of revenue	3,073,014	2,790,506	8,954,393	8,472,847
Gross Profit	1,345,989	1,267,346	3,942,199	3,774,339
Operating (income) expenses:
Selling, general and administrative	724,433	742,678	2,229,333	2,136,632
(Gain) loss related to divestiture of Care Coordination activities	(2,462)	(9,806)	(13,862)	(829,860)
Research and development	49,174	25,742	136,591	95,287
Income from equity method investees	(20,544)	(17,990)	(63,058)	(52,417)
Operating income	595,388	526,722	1,653,195	2,424,697
Other (income) expense:
Interest income	(20,761)	(8,855)	(46,659)	(30,961)
Interest expense	125,485	84,765	373,586	274,512
Income before income taxes	490,664	450,812	1,326,268	2,181,146
Income tax expense	99,103	102,250	292,312	447,716
Net income	391,561	348,562	1,033,956	1,733,430
Net income attributable to noncontrolling interests	58,977	63,948	176,843	176,280
Net income attributable to shareholders of FMC-AG & Co. KGaA	€ 332,584	€ 284,614	€ 857,113	€ 1,557,150
Basic earnings per share (in dollars per share)	€ 1.10	€ 0.93	€ 2.82	€ 5.08
Diluted earnings per share (in dollars per share)	€ 1.10	€ 0.93	€ 2.82	€ 5.07

Consolidated statements of comp

Consolidated statements of comprehensive income - EUR (€) € in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Consolidated statements of comprehensive income
Net income		€ 391,561	€ 348,562	€ 1,033,956	€ 1,733,430
Components that may be reclassified subsequently to profit or loss:
Gain (loss) related to foreign currency translation		524,396	36,946	654,319	166,191
Gain (loss) related to cash flow hedges	[1]	107	5,964	(13,380)	18,984
Income tax (expense) benefit related to components of other comprehensive income that may be reclassified		(55)	(1,668)	3,114	(5,382)
Other comprehensive income (loss), net of tax		524,448	41,242	644,053	179,793
Total comprehensive income		916,009	389,804	1,678,009	1,913,223
Comprehensive income attributable to noncontrolling interests		107,848	69,695	231,404	208,429
Comprehensive income attributable to shareholders of FMC-AG & Co. KGaA		€ 808,161	€ 320,109	€ 1,446,605	€ 1,704,794
[1]	Including cost of hedging in the amount of €(302) and €(1,064) respective €(424) and €(976) for the three and nine months ended September 30, 2019 and 2018.

Consolidated statements of co_2

Consolidated statements of comprehensive income (Parenthetical) - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Consolidated statements of comprehensive income
Cost of hedging	€ (302)	€ (424)	€ (1,064)	€ (976)

Consolidated balance sheets

Consolidated balance sheets - EUR (€) € in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	€ 965,054	€ 2,145,632
Trade accounts and other receivables	3,511,120	3,337,706
Accounts receivable from related parties	78,554	92,662
Inventories	1,721,090	1,466,803
Other current assets	955,236	804,083
Total current assets	7,231,054	7,846,886
Property, plant and equipment	4,147,890	3,836,010
Right-of-use assets	4,343,308
Intangible assets	1,525,179	681,331
Goodwill	14,121,321	12,209,606
Deferred taxes assets	348,087	345,686
Investment in equity method investees	682,617	649,780
Other non-current assets	769,947	672,969
Total non-current assets	25,938,349	18,395,382
Total assets	33,169,403	26,242,268
Liabilities
Accounts payable	654,602	641,271
Accounts payable to related parties	255,242	153,781
Current provisions and other current liabilities	2,836,456	2,904,288
Short-term debt	1,565,779	1,205,294
Short-term debt from related parties	357,900	188,900
Current portion of long-term debt	970,917	1,106,519
Current portion of long-term lease liabilities	628,297
Current portion of long-term lease liabilities from related parties	16,427
Income tax payable	93,060	68,229
Total current liabilities	7,378,680	6,268,282
Long-term debt, less current portion	6,085,840	5,045,515
Long-term lease liabilities, less current portion	3,935,599
Long-term lease liabilities from related parties, less current portion	108,436
Non-current provisions and other non-current liabilities	686,911	750,738
Pension liabilities	587,978	551,930
Income tax payable	87,912	97,324
Deferred taxes	754,627	626,521
Total non-current liabilities	12,247,303	7,072,028
Total liabilities	19,625,983	13,340,310
Shareholders' equity
Ordinary shares, no par value, 1.00 nominal value, 374,165,226 shares authorized, 304,356,545 issued and 300,359,593 outstanding as of September 30, 2019 and 384,822,972 shares authorized, 307,878,652 issued and 306,878,701 outstanding as of December 31, 2018	304,357	307,879
Treasury stock, at cost	(239,105)	(50,993)
Additional paid-in capital	3,614,579	3,873,345
Retained earnings	9,211,339	8,831,930
Accumulated other comprehensive income (loss)	(614,258)	(1,203,750)
Total FMC-AG & Co. KGaA shareholders' equity	12,276,912	11,758,411
Noncontrolling interests	1,266,508	1,143,547
Total equity	13,543,420	12,901,958
Total liabilities and equity	€ 33,169,403	€ 26,242,268

Consolidated balance sheets (Pa

Consolidated balance sheets (Parenthetical) - € / shares	Sep. 30, 2019	Dec. 31, 2018
Consolidated balance sheets
Par value (in dollars per share)	€ 0
Nominal value (in dollars per share)	€ 1
Shares authorized	374,165,226	384,822,972
Shares issued	304,356,545	307,878,652
Shares outstanding	300,359,593	306,878,701

Consolidated statements of cash

Consolidated statements of cash flows - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities
Net income	€ 1,033,956	€ 1,733,430
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,158,662	534,017
Change in deferred taxes, net	30,240	68,916
(Gain) loss from the sale of fixed assets, right-of-use assets, investments and divestitures	(101,109)	(835,604)
Compensation expense related to share-based plans	2,203	9,613
Cash inflow (outflow) from hedging	(12,697)
Investments in equity method investees, net	(19,586)	(8,815)
Interest expense, net	326,927	243,551
Changes in assets and liabilities, net of amounts from businesses acquired:
Trade accounts receivable, net	(32,013)	(238,607)
Inventories	(168,963)	(156,665)
Other current and non-current assets	(73,579)	(60,912)
Accounts receivable from related parties	14,087	(14,217)
Accounts payable to related parties	95,040	44,740
Accounts payable, provisions and other current and non-current liabilities	(128,730)	123,322
Paid interest	(370,921)	(273,226)
Received interest	35,291	28,980
Income tax payable	353,058	427,841
Paid income taxes	(345,624)	(262,131)
Net cash provided by (used in) operating activities	1,796,242	1,364,233
Investing activities
Purchases of property, plant and equipment	(787,778)	(731,959)
Proceeds from sale of property, plant and equipment	10,896	29,475
Acquisitions and investments, net of cash acquired, and purchases of intangible assets	(2,024,138)	(808,253)
Proceeds from divestitures	55,825	1,667,294
Net cash provided by (used in) investing activities	(2,745,195)	156,557
Financing activities
Proceeds from short-term debt	611,089	625,549
Repayments of short-term debt	(255,604)	(174,517)
Proceeds from short-term debt from related parties	281,200	52,146
Repayments of short-term debt from related parties	(112,200)	(37,746)
Proceeds from long-term debt	1,589,844	610,316
Repayments of long-term debt	(1,588,516)	(1,032,980)
Repayments of lease liabilities	(494,284)
Repayments of lease liabilities from related parties	(12,309)
Increase (decrease) of accounts receivable securitization program	649,018	(295,595)
Proceeds from exercise of stock options	11,629	44,443
Purchase of treasury stock	(464,457)	(37,221)
Dividends paid	(354,636)	(324,838)
Distributions to noncontrolling interests	(203,869)	(194,283)
Contributions from noncontrolling interests	40,805	30,554
Net cash provided by (used in) financing activities	(302,290)	(734,172)
Effect of exchange rate changes on cash and cash equivalents	70,665	(10,675)
Cash and cash equivalents:
Net increase (decrease) in cash and cash equivalents	(1,180,578)	775,943
Cash and cash equivalents at beginning of period	2,145,632	978,109
Cash and cash equivalents at end of period	€ 965,054	€ 1,754,052

Consolidated statements of shar

Consolidated statements of shareholders' equity - EUR (€) € in Thousands	Total FMC-AG & Co. KGaA shareholders' equityIFRS 9	Total FMC-AG & Co. KGaA shareholders' equityIFRS 16	Total FMC-AG & Co. KGaA shareholders' equity	Ordinary Shares	Treasury Stock	Additional paid in capital	Retained earningsIFRS 9	Retained earningsIFRS 16	Retained earnings	Foreign currency translation	Cash Flow Hedges	Pensions	Noncontrolling InterestsIFRS 16	Noncontrolling Interests	IFRS 9	IFRS 16	Total
Adjustment due to initial application	€ (5,076)						€ (5,076)								€ (5,076)
Adjusted balance			€ 9,815,026	€ 308,111	€ (108,931)	€ 3,969,245			€ 7,132,179	€ (1,203,904)	€ (18,336)	€ (263,338)		€ 1,008,084			€ 10,823,110
Adjusted balance (in shares)				308,111,000	(1,659,951)
Balance at beginning of period at Dec. 31, 2017			9,820,102	€ 308,111	€ (108,931)	3,969,245			7,137,255	(1,203,904)	(18,336)	(263,338)		1,008,084			10,828,186
Balance at beginning of period (in shares) at Dec. 31, 2017				308,111,000	(1,659,951)
Proceeds from exercise of options and related tax effects			45,978	€ 825		45,153											45,978
Proceeds from exercise of options and related tax effects (in shares)				825,407
Compensation expense related to stock options			5,626			5,626											5,626
Purchase of treasury stock			(37,221)		€ (37,221)												(37,221)
Purchase of treasury stock (in shares)					(431,000)
Dividends paid			(324,838)						(324,838)								(324,838)
Purchase/sale of noncontrolling interests			(37,868)			(37,868)								55,927			18,059
Contributions from/to noncontrolling interests														(143,078)			(143,078)
Noncontrolling interests subject to put provisions			44,985						44,985								44,985
Net income			1,557,150						1,557,150					176,280			1,733,430
Other comprehensive income (loss) related to:
Foreign currency translation			134,042							139,409	(13)	(5,354)		32,149			166,191
Cash flow hedges, net of related tax effects			13,602								13,602						13,602
Total comprehensive income			1,704,794											208,429			1,913,223
Balance at end of period at Sep. 30, 2018			11,216,482	€ 308,936	€ (146,152)	3,982,156			8,409,476	(1,064,495)	(4,747)	(268,692)		1,129,362			12,345,844
Balance at end of period (in shares) at Sep. 30, 2018				308,936,407	(2,090,951)
Balance at beginning of period at Dec. 31, 2017			9,820,102	€ 308,111	€ (108,931)	3,969,245			7,137,255	(1,203,904)	(18,336)	(263,338)		1,008,084			10,828,186
Balance at beginning of period (in shares) at Dec. 31, 2017				308,111,000	(1,659,951)
Purchase of treasury stock					€ (37,221)
Purchase of treasury stock (in shares)					(431,000)
Balance at end of period at Dec. 31, 2018			11,758,411	€ 307,879	€ (50,993)	3,873,345			8,831,930	(911,473)	(1,528)	(290,749)		1,143,547			€ 12,901,958
Balance at end of period (in shares) at Dec. 31, 2018				307,878,652	(999,951)												307,878,652
Adjustment due to initial application		€ (120,364)						€ (120,364)					€ (15,526)			€ (135,890)
Adjusted balance			11,638,047	€ 307,879	€ (50,993)	3,873,345			8,711,566	(911,473)	(1,528)	(290,749)		1,128,021			€ 12,766,068
Adjusted balance (in shares)				307,878,652	(999,951)
Proceeds from exercise of options and related tax effects			12,177	€ 249		11,928											12,177
Proceeds from exercise of options and related tax effects (in shares)				248,665
Compensation expense related to stock options			2,203			2,203											2,203
Purchase of treasury stock			(457,908)		€ (457,908)												(457,908)
Purchase of treasury stock (in shares)					(6,767,773)
Withdrawal of treasury stock				€ (3,771)	€ 269,796	(266,025)
Withdrawal of treasury stock (in shares)				(3,770,772)	3,770,772
Dividends paid			(354,636)						(354,636)								(354,636)
Purchase/sale of noncontrolling interests			(6,872)			(6,872)								72,232			65,360
Contributions from/to noncontrolling interests														(165,149)			(165,149)
Noncontrolling interests subject to put provisions			(2,704)						(2,704)								(2,704)
Net income			857,113						857,113					176,843			1,033,956
Other comprehensive income (loss) related to:
Foreign currency translation			599,758							608,137	(350)	(8,029)		54,561			654,319
Cash flow hedges, net of related tax effects			(10,266)								(10,266)						(10,266)
Total comprehensive income			1,446,605											231,404			1,678,009
Balance at end of period at Sep. 30, 2019			€ 12,276,912	€ 304,357	€ (239,105)	€ 3,614,579			€ 9,211,339	€ (303,336)	€ (12,144)	€ (298,778)		€ 1,266,508			€ 13,543,420
Balance at end of period (in shares) at Sep. 30, 2019				304,356,545	(3,996,952)												304,356,545

The Company and basis of presen

The Company and basis of presentation	9 Months Ended
	Sep. 30, 2019
The Company and basis of presentation
The Company and basis of presentation	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) registered in the commercial registry of Hof an der Saale under HRB 4019, with its business address at Else-Kröner-Str. 1, 61352 Bad Homburg v. d. Höhe, is the world’s largest kidney dialysis company, based on publicly reported revenue 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 also develops and manufactures a wide variety of health care products, which includes dialysis and non-dialysis products. The Company’s dialysis products include hemodialysis machines, peritoneal cyclers, dialyzers, peritoneal solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals and systems for water treatment. The Company’s non-dialysis products include acute cardiopulmonary and apheresis products. The Company supplies dialysis clinics it owns, operates or manages with a broad range of products and also sells dialysis products to other dialysis service providers. The Company describes certain of its other health care services as “Care Coordination.” Care Coordination currently includes, but is not limited to, the coordinated delivery of pharmacy services, vascular, cardiovascular and endovascular specialty services as well as ambulatory surgery center services, physician nephrology services, health plan services, urgent care services and ambulant treatment services. Until June 28, 2018, Care Coordination also included the coordinated delivery of emergency, intensivist and hospitalist physician services as well as transitional care which the Company refers to as “hospital related physician services.” All of these Care Coordination services together with dialysis care and related services represent the Company’s health care services. In these unaudited consolidated financial statements, “FMC-AG & Co. KGaA,” or the “Company” refers to the Company or the Company and its subsidiaries on a consolidated basis, as the context requires. “Fresenius SE” and “Fresenius SE & Co. KGaA” refer to Fresenius SE & Co. KGaA. “Management AG” and the “General Partner” refer to Fresenius Medical Care Management AG which is FMC-AG & Co. KGaA’s general partner and is wholly owned by Fresenius SE. “Management Board” refers to the members of the management board of Management AG and, except as otherwise specified, “Supervisory Board” refers to the supervisory board of FMC-AG & Co. KGaA. The term “North America Segment” refers to the North America operating segment, the term “EMEA Segment” 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 15. Basis of presentation The consolidated financial statements and other financial information included in the Company’s quarterly reports on Form 6‑K and its Annual Report on Form 20‑F for 2018 were prepared in accordance with IFRS as issued by the International Accounting Standards Board (“IASB”), using the euro as the Company’s reporting currency. At September 30, 2019, there were no IFRS or International Financial Reporting Interpretation Committee (“IFRIC”) interpretations as endorsed by the European Union relevant for interim reporting that differed from IFRS as issued by the IASB. As such, the accompanying condensed interim report complies with the requirements of International Accounting Standard (“IAS”) 34, Interim Financial Reporting as well as with the rules concerning interim reporting as issued by the IASB and the conditions established by the U.S. Securities and Exchange Commission (“SEC”) for the use of IFRS for preparation of financial statements included in reports filed with the SEC. The consolidated financial statements at September 30, 2019 and for the three and nine months ended September 30, 2019 and 2018 contained in this report are unaudited and should be read in conjunction with the consolidated financial statements contained in the Company’s 2018 Annual Report on Form 20‑F. The preparation of consolidated financial statements in conformity with IFRS 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 revenue and expense 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. Starting on July 1, 2018, the Company’s subsidiaries in Argentina applied IAS 29, Financial Reporting in Hyperinflationary Economies, due to the inflation in Argentina. Pursuant to IAS 29, the Company recorded a loss on its net monetary position of €17,394 for the first nine months ended September 30, 2019. The Company calculated the loss with the use of the Consumer Price Index (Índice de precios al consumidor) as published by the Argentine Statistics and Census Institute for the first nine months ended September 30, 2019, which lists the level at 253.7 index points, a 38% increase since January 1, 2019. As a result of the implementation of IFRS 16, Leases, the Company updated its accounting policies. Refer to “Recently implemented accounting pronouncements” below for further details on the updated policies. Excluding the policies update for IFRS 16, the accounting policies applied in the accompanying consolidated financial statements are the same as those applied in the consolidated financial statements as of and for the year ended December 31, 2018. As of December 31, 2018, “Property, plant and equipment” included leased fixed assets of €36,402 recognized in accordance with IAS 17, Leases. These are transferred to the line item “Right-of-use assets” as of the beginning of fiscal year 2019. As of December 31, 2018, “Current portion of long-term debt” included current lease liabilities from capital leases in accordance with IAS 17 of €9,387. From 2019, these are included in the balance sheet item “Current portion of long-term lease liabilities.” As of December 31, 2018, “Long-term debt, less current portion” included non-current lease liabilities from capital leases in accordance with IAS 17 of €26,757. From 2019, these are included in the balance sheet item “Long-term lease liabilities, less current portion.” In the consolidated statement of cash flows, in the comparative information for the period from January 1, 2018 to September 30, 2018, the line item “Repayments of long-term debt” included repayments of lease liabilities from capital leases in accordance with IAS 17 of €7,770. In the previous periods this line item was labeled as “Repayments of long-term debt and capital lease obligations.” From 2019, these repayments are included in the line item “Repayments of lease liabilities” in accordance with IFRS 16. In the consolidated statement of cash flows, in the comparative information for the period from January 1, 2018 to September 30, 2018, the line item “Proceeds from divestitures” included a tax payment related to the divestiture of Sound of €143,946, that was originally included in line item “Paid income taxes.” Based on the IFRIC agenda decision relating to the applicability of IAS 12, Income Taxes, to the accounting for interest and penalties related to income taxes and an interpretation issued by the Accounting Standards Committee of Germany approved in September 2018, interest and penalties related to income taxes have been reclassified from income tax expense to interest expense, net in the amount of €1,459 and €4,827 for the three and nine months ended September 30, 2018. The results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of the results of operations for the year ending December 31, 2019. New accounting pronouncements Recently implemented accounting pronouncements The Company has prepared its consolidated financial statements at and for the three- and nine-months ended September 30, 2019 in conformity with IFRS in force for the interim periods on January 1, 2019. In the first quarter of 2019, the Company applied the following new standard relevant for its business for the first time: IFRS 16 In January 2016, the IASB issued IFRS 16, which supersedes the current standard on lease-accounting, IAS 17, as well as the interpretations IFRIC 4, Determining whether an arrangement contains a lease, Standard Interpretations Committee (“SIC”)‑15, Operating leases-incentives and SIC‑27, Evaluating the substance of transactions in the legal form of a lease. IFRS 16 significantly changes lessee accounting. For almost all leases, a lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. Leases with a total maximum term of twelve months (short-term leases) and leases for underlying assets of low-value may be exempt from balance sheet recognition by applying an accounting policy choice. Depreciation of the right-of-use asset and interest on the lease liability must be recognized in the income statement for every on-balance lease contract. Therefore, straight-line rental expenses will no longer be shown for the vast majority of the leases. The lessor accounting requirements in IAS 17 are substantially carried forward. The Company applies the modified retrospective method in accordance with IFRS 16 as the transition method. Accordingly, the cumulative effect from first-time application is recognized in the opening balance of retained earnings as of January 1, 2019 without adjustments to the comparative information of the previous period. In the application of the modified retrospective method, the carrying amount of the lease liability at the date of the initial application is determined by discounting the remaining lease payments of lease agreements that were classified as operating leases under IAS 17 using the term-, country-, and currency-specific incremental borrowing rate at date of initial application. Furthermore, right-of-use assets are to be recognized. In the application of the modified retrospective method, the carrying amount of the right-of-use asset equals the carrying amount of the lease liability adjusted for any prepaid or accrued lease payments. For a part of the existing contracts, the Company recognizes the right-of-use asset with its carrying amount assuming the new standard had been applied since the commencement date of the lease discounted using its term-, country-, and currency-specific incremental borrowing rate at the date of initial application. Regarding the options and exemptions available upon the initial application of IFRS 16, the Company adopted the following approach: · IFRS 16 is only applied to contracts that were previously identified as leases under IAS 17 and IFRIC 4. · Recognition, valuation and disclosure principles of IFRS 16 are not applied to lease contracts with a lease term ending in less than 12 months from the date of the initial application. The respective lease contracts are accounted for as if they were short term leases and recognized as an expense accordingly. · Material initial direct costs are included in the measurement of a right-of-use asset with the carrying amount assuming the new standard was applied since the commencement date of the lease. · Upon initial recognition no impairment review is performed. The right-of-use assets are adjusted for onerous contract provisions, recognized on the consolidated balance sheet immediately before the date of initial application. Right-of-use assets from lease contracts are classified in accordance with the Company’s classification of property, plant and equipment: · Right-of-use assets: Land · Right-of-use assets: Buildings and improvements · Right-of-use assets: Machinery and equipment In addition to the right-of-use asset categories above, prepayments on right-of-use assets are presented separately. Right-of-use assets from lease contracts and lease obligations are presented separately from property, plant and equipment and other financial debt in the consolidated balance sheet. For lease contracts that include both lease and non-lease components that are not separable from lease components, no allocation is performed. Each lease component and any associated non-lease components are accounted for as a single lease. Upon the initial application of IFRS 16 as of January 1, 2019, the Company recognized right-of-use assets of €4,269,755 and lease liabilities from third and related parties of €4,550,625. The cumulative effect from the first-time application is recognized in the opening balance of retained earnings (€120,364) as well as in non-controlling interests (€15,526) as of January 1, 2019. The following table shows a reconciliation of the future minimum rental payments as of December 31, 2018 to the lease liabilities as of January 1, 2019: Reconciliation of lease liabilities upon the initial application of IFRS 16 in € THOUS Future minimum rental payments as of December 31, 2018 (IAS 17) 5,527,638 less short-term leases (21,936) less leases of low-value assets (34,145) other (26,975) Gross lease liabilities as of January 1, 2019 5,444,582 Discounting (893,957) Lease liabilities as a result of the initial application of IFRS 16 as of January 1, 2019 4,550,625 Lease liabilities from capital leases as of December 31, 2018 (IAS 17) 36,144 Lease liabilities as of January 1, 2019 4,586,769 The lease liabilities were discounted using the term-, country-, and currency-specific incremental borrowing rate as of January 1, 2019. The weighted average discount rate was 3.69%. Leasing in the consolidated statements of income The Company decided not to apply the guidance within IFRS 16 to short-term leases as well as leases for underlying assets of low-value. These lease payments will be recognized as expenses over the respective lease terms. The following table shows the effects from lease agreements on the consolidated statements of income for the three and nine months ended September 30, 2019: Leasing in the consolidated statements of income in € THOUS For the three months For the nine months ended September 30, ended September 30, 2019 2019 Depreciation on right-of-use assets 176,204 519,093 Impairments on right-of-use assets 18,982 18,982 Expenses relating to short-term leases 17,045 39,538 Expenses relating to leases of low-value assets 9,055 20,862 Expenses relating to variable lease payments 6,983 26,138 Interest expense on lease liabilities 42,729 127,779 Leasing in the consolidated balance sheets At September 30, 2019, the book values of right-of-use assets consisted of the following: Right-of-use assets in € THOUS September 30, 2019 Right-of-use assets: Land 27,036 Right-of-use assets: Buildings and improvements 3,957,825 Right-of-use assets: Machinery and equipment 358,447 Right-of-use assets 4,343,308 In the first nine months of fiscal year 2019, additions to right-of-use assets were €414,377. Recent accounting pronouncements not yet adopted The IASB issued the following new standard which is relevant for the Company: IFRS 17, Insurance Contracts In May 2017, the IASB issued IFRS 17, Insurance Contracts. IFRS 17 establishes principles for the recognition, measurement, presentation and disclosure related to the issuance of insurance contracts. IFRS 17 replaces IFRS 4, Insurance Contracts, which was brought in as an interim standard in 2004. IFRS 4 permitted the use of national accounting standards for the accounting of insurance contracts under IFRS. As a result of the varied application for insurance contracts there was a lack of comparability among peer groups. IFRS 17 eliminates this diversity in practice by requiring all insurance contracts to be accounted for using current values. The frequent updates to the insurance values are expected to provide more useful information to users of financial statements. IFRS 17 is effective for fiscal years beginning on or after January 1, 2021. Earlier adoption is permitted for entities that have also adopted IFRS 9, Financial Instruments and IFRS 15, Revenue from Contracts with Customers. The Company is evaluating the impact of IFRS 17 on the consolidated financial statements. In the Company’s view, all other pronouncements issued by the IASB do not have a material impact on the consolidated financial statements.

Notes to the consolidated state

Notes to the consolidated statements of income	9 Months Ended
	Sep. 30, 2019
Notes to the consolidated statements of income
Notes to the consolidated statements of income	2. Notes to the consolidated statements of income a) Revenue The Company has recognized the following revenue in the consolidated statement of income for the three and nine months ended September 30, 2019 and 2018: Revenue in € THOUS For the three months ended September 30, 2019 2018 Revenue from Revenue from contracts with Other contracts with Other customers revenue Total customers revenue Total Health care services Dialysis services 3,155,050 — 3,155,050 2,904,363 — 2,904,363 Care Coordination 271,307 65,959 337,266 295,001 58,767 353,768 3,426,357 65,959 3,492,316 3,199,364 58,767 3,258,131 Health care products Dialysis products 877,008 29,869 906,877 756,759 25,615 782,374 Non-dialysis products 19,810 — 19,810 17,347 — 17,347 896,818 29,869 926,687 774,106 25,615 799,721 Total 4,323,175 95,828 4,419,003 3,973,470 84,382 4,057,852 For the nine months ended September 30, 2019 2018 Revenue from Revenue from contracts with Other contracts with Other customers revenue Total customers revenue Total Health care services Dialysis services 9,232,698 — 9,232,698 8,359,200 — 8,359,200 Care Coordination 849,788 182,335 1,032,123 1,330,471 162,062 1,492,533 10,082,486 182,335 10,264,821 9,689,671 162,062 9,851,733 Health care products Dialysis products 2,479,262 96,756 2,576,018 2,269,019 71,047 2,340,066 Non-dialysis products 55,753 — 55,753 55,387 — 55,387 2,535,015 96,756 2,631,771 2,324,406 71,047 2,395,453 Total 12,617,501 279,091 12,896,592 12,014,077 233,109 12,247,186 b) Selling, general & administrative expenses Included in SG&A are gains and losses from changes in the fair value of equity investments. During the three and nine months ended September 30, 2019, the Company recognized gains of approximately €76,132. The Company did not recognize gains and losses from changes in the fair value of equity investments in 2018. c) (Gain) loss related to divestitures of Care Coordination activities On June 28, 2018, the Company divested its controlling interest in Sound Inpatient Physicians, Inc. (“Sound”) to an investment consortium led by Summit Partners, L.P., (“Summit Consortium”). The total transaction proceeds were $1,770,516 (€1,531,109), net of related tax payments. For the nine months ended September 30, 2018, the pre-tax gain related to divestitures for Care Coordination activities was €829,860, which primarily related to this divestiture, the effect of the six-month impact from the increase in valuation of Sound’s share based payment program, incentive compensation expense and other costs caused by the divestiture of Sound. Sound was included in Care Coordination within the North America Segment. The Company’s history with Sound, prior to divestment, includes the following milestones: · In July 2014, the Company made an investment for a majority interest in Sound, a physician services organization focused on hospitalist, emergency, intensivist and post-acute care services, expanding the health care services we offer. · In November 2014, Sound acquired Cogent Healthcare, expanding Sound to serve over 180 hospitals in 35 states with more than 1,750 providers. · In 2017, the Company increased its interest in Sound raising the Company majority interest to almost 100% during the first half of 2017. d) Research and development expenses Research and development expenses of €136,591 for the nine months ended September 30, 2019 (for the nine months ended September 30, 2018: €95,287) include expenditures for research and non-capitalizable development costs as well as depreciation and amortization expenses related to capitalized development costs of €1,795 (for the nine months ended September 30, 2018: €249). e) Earnings per share The following table contains reconciliations of the numerators and denominators of the basic and fully diluted earnings per share computations for 2019 and 2018: Reconciliation of basic and diluted earnings per share in € THOUS, except share and per share data For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Numerator: Net income attributable to shareholders of FMC-AG & Co. KGaA 332,584 284,614 857,113 1,557,150 Denominators: Weighted average number of shares outstanding 301,440,412 306,495,661 303,832,868 306,434,923 Potentially dilutive shares — 824,459 83,518 807,212 Basic earnings per share 1.10 0.93 2.82 5.08 Diluted earnings per share 1.10 0.93 2.82 5.07 Share buy-back program In 2019, the Company will continue to utilize the authorization granted by the Company’s Annual General Meeting on May 12, 2016 to conduct a share buy-back program. The current share buy-back program, announced on June 14, 2019 allows for repurchase of a maximum of 12,000,000 shares at a total purchase price, excluding ancillary transaction costs, of up to €660,000 between June 17, 2019 and June 17, 2020. The prior buy-back program expired on May 10, 2019 and the repurchased shares were retired. The following tabular disclosure provides the number of shares acquired in the context of the share buy-back programs as well as the retired treasury stock: Treasury Stock Total number of shares purchased and retired as part of publicly Average price per announced plans or Total value of Period share programs shares (1) in € in € THOUS December 31, 2017 65.63 1,659,951 108,931 Purchase of Treasury Stock May 2018 86.69 173,274 15,020 June 2018 86.14 257,726 22,201 Repurchased Treasury Stock 86.37 431,000 37,221 Retirement of repurchased Treasury Stock December 2018 87.23 1,091,000 95,159 December 31, 2018 51.00 999,951 50,993 Purchase of Treasury Stock March 2019 69.86 1,629,240 113,816 April 2019 72.83 1,993,974 145,214 May 2019 72.97 147,558 10,766 Repurchased Treasury Stock 71.55 3,770,772 269,796 Retirement of repurchased Treasury Stock June 2019 71.55 3,770,772 269,796 Purchase of Treasury Stock June 2019 67.11 504,672 33,870 July 2019 66.77 1,029,655 68,748 August 2019 57.53 835,208 48,050 September 2019 59.67 627,466 37,444 Repurchased Treasury Stock (2) 62.77 2,997,001 188,112 Total 59.82 3,996,952 239,105 (1) The value of shares repurchased in 2018 and 2019 is inclusive of fees (net of taxes) paid in the amount of approximately €8 and €11, respectively, for services rendered. (2) At September 30, 2019, the maximum number of shares that may be purchased pursuant to the buy-back program expiring on June 17, 2020 is 9,002,999 As of September 30, 2019, the Company holds 3,996,952 treasury shares. These shares will be used solely to reduce the registered share capital of the Company by cancellation of the acquired shares.

Acquisition of NxStage Medical,

Acquisition of NxStage Medical, Inc.	9 Months Ended
	Sep. 30, 2019
Acquisition of NxStage Medical, Inc.
Acquisition of NxStage Medical, Inc.	3. Acquisition of NxStage Medical, Inc. On February 21, 2019, the Company acquired all of the outstanding shares of NxStage Medical, Inc. (“NxStage”) for $30.00 per common share. The total acquisition value of this business combination, net of cash acquired, is $1,976,235 (€1,740,563 at date of closing). NxStage is a leading medical technology company that develops, produces and markets an innovative product portfolio of medical devices for use in home dialysis and in the critical care setting. This acquisition is part of the Company’s stated strategy to expand and complement its existing business through acquisitions. Generally, these acquisitions do not change the Company’s business model and can be integrated without disruption to its existing business, requiring little or no realignment of its structures. The NxStage acquisition is consistent in this regard as it supplements the Company’s existing business. The following table summarizes the estimated fair values, as of the date of acquisition based upon information available, as of September 30, 2019, of assets acquired and liabilities assumed at the date of the acquisition. Any adjustments to acquisition accounting, net of related income tax effects, will be recorded with a corresponding adjustment to goodwill: Estimated Fair Values of Assets Acquired and Liabilities Assumed-Preliminary in $ THOUS in USD Cash and cash equivalents 47,203 Trade accounts and other receivables 34,062 Inventories 64,945 Other current assets 18,657 Property, plant and equipment 93,657 Right-of-use assets 21,654 Intangible assets and other assets 825,516 Goodwill 1,163,258 Accounts payable, current provisions and other current liabilities (72,003) Deferred taxes (121,139) Lease liabilities (22,065) Other liabilities (26,244) Noncontrolling interests (4,063) Total acquisition cost 2,023,438 Less: Cash acquired (47,203) Net Cash paid 1,976,235 As of the acquisition date, it is estimated that amortizable intangible assets acquired in this acquisition will have weighted average useful lives of 13 years. Goodwill in the amount of $1,163,258 was acquired as part of the NxStage acquisition and is allocated to the North America Segment. NxStage’s results have been included in the Company’s consolidated statement of income since February 21, 2019. Specifically, NxStage has contributed revenue and an operating loss in the amount of $211,410 (€188,151) and $26,447 (€23,537) respectively, to the Company’s consolidated operating income. This operating loss amount does not include synergies which may have resulted at consolidated entities outside NxStage since the acquisition closed. Pro forma financial information The following financial information, on a pro forma basis, reflects the consolidated results of operations for the nine months ended September 30, 2019 as if the NxStage acquisition had been consummated on January 1, 2019 and excludes related transaction costs. The pro-forma financial information is not necessarily indicative of the results of operations as it would have been had the transactions been consummated on January 1, 2019. Pro forma financial Information in € THOUS, except per share data For the nine months ended September 30, 2019 in EUR Pro forma revenue 12,941,303 Pro forma net income attributable to shareholders of FMC-AG & Co. KGaA 842,609 Basic earnings per share 2.77 Diluted earnings per share 2.77

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2019
Related party transactions
Related party transactions	4. Related party transactions Fresenius SE is the Company’s largest shareholder and owns 31.42% of the Company’s outstanding shares, excluding treasury shares held by the Company, at September 30, 2019. The Company has entered into certain arrangements for services 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 arrangements for leases with Fresenius SE or its subsidiaries are described in item b) 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 and the Company believes that these arrangements reflect fair market terms. The Company utilizes various methods to verify the commercial reasonableness of its related party arrangements. Financing arrangements as described in item c) 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 d) below. Our related party transactions are settled through Fresenius SE’s cash management system where appropriate. a) Service 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. These related party agreements generally have a duration of 1 to 5 years and are renegotiated on an as needed basis when the agreement comes due. The Company provides administrative services to one of its equity method investees. 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 Kabi 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 a ten-year agreement with a Fresenius SE Company for the manufacturing of infusion bags. In order to establish the new production line, the Company purchased machinery from the Fresenius SE company in the amount of €3,853 during the nine months ended September 30, 2019 and €3,429 during the nine months ended September 30, 2018. In December 2010, the Company and Galenica Ltd. (now known as Vifor Pharma Ltd.) formed the renal pharmaceutical company Vifor Fresenius Medical Care Renal Pharma Ltd. (“VFMCRP”), an equity method investee of which the Company owns 45%. The Company has entered into exclusive supply agreements to purchase certain pharmaceuticals 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 and products with related parties in € THOUS For the nine months ended For the nine months ended September 30, December 31, September 30, 2019 September 30, 2018 2019 2018 Sales of Purchases of Sales of Purchases of goods and goods and goods and goods and Accounts Accounts Accounts Accounts services services services services receivable payable receivable payable Service agreements (1) Fresenius SE 106 19,929 389 17,338 1,097 3,412 378 4,019 Fresenius SE affiliates 2,947 76,802 2,557 71,052 1,089 5,510 681 8,470 Equity method investees 2,162 — 16,107 — 652 — 2,449 — Total 5,215 96,731 19,053 88,390 2,838 8,922 3,508 12,489 Products Fresenius SE 3 — — — — — — — Fresenius SE affiliates 33,374 26,739 26,235 29,548 12,005 7,764 8,750 3,658 Equity method investees — 353,843 — 297,149 — 179,188 — 57,975 Total 33,377 380,582 26,235 326,697 12,005 186,952 8,750 61,633 (1) In addition to the above shown accounts payable, accrued expenses for service agreements with related parties amounted to €5,832 and €9,376 at September 30, 2019 and December 31, 2018, respectively. b) Lease agreements In addition to the above-mentioned product and service agreements, the Company is a party to real estate lease agreements with the Fresenius SE Companies, which mainly include leases for the Company’s corporate headquarters in Bad Homburg, Germany and production sites in Schweinfurt and St. Wendel, Germany. The majority of the leases expire at the end of 2026. Below is a summary resulting from the above described lease agreements with related parties. For information on the implementation of IFRS 16, see note 1. Lease agreements with related parties in € THOUS For the nine months ended For the nine months ended September 30, 2019 September 30, 2018 September 30, 2019 Interest Lease Right-of-use Lease Depreciation expense expense (1) Lease income Lease expense asset liability Fresenius SE 3,620 342 2,815 — 6,494 31,028 31,233 Fresenius SE affiliates 9,384 1,055 392 — 11,654 93,275 93,630 Total 13,004 1,397 3,207 — 18,148 124,303 124,863 (1) Short-term leases and expenses relating to variable lease payments are exempted from balance sheet recognition . c) 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, 2019 and December 31, 2018, the Company had accounts receivable from Fresenius SE related to short-term financing in the amount of €63,514 and €80,228, respectively. As of September 30, 2019 and December 31, 2018, the Company had accounts payable to Fresenius SE related to short-term financing in the amount of €45,612 and €32,454, respectively. The interest rates for these cash management arrangements are set on a daily basis and are based on the then-prevailing overnight reference rate, with a floor of zero, for the respective currencies. On August 19, 2009, the Company borrowed €1,500 from the General Partner on an unsecured basis at 1.335%. The loan repayment has been extended periodically and is currently due August 21, 2020 with an interest rate of 0.930%. On November 28, 2013, the Company borrowed an additional €1,500 with an interest rate of 1.875% from the General Partner. The loan repayment has been extended periodically and is currently due on November 23, 2019 with an interest rate of 0.825%. At December 31, 2018, a subsidiary of Fresenius SE held unsecured bonds issued by the Company in the amount of €6,000. One bond was issued in 2012 with a coupon of 5.25% and interest paid semiannually until maturity in 2019. At September 30, 2019, the subsidiary of Fresenius SE held another unsecured bond issued by the Company in the amount of €1,000. This bond was issued in 2011 with a coupon of 5.25% and interest payable semiannually until maturity in 2021. At September 30, 2019 and December 31, 2018, the Company borrowed from Fresenius SE in the amount of €354,900 on an unsecured basis at an interest rate of 0.930% and €185,900 on an unsecured basis at an interest rate of 0.825%, respectively. For further information on this loan agreement, see note 8. d) Key management personnel Due to the Company’s 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 their 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 Management Board. The aggregate amount reimbursed to the General Partner was €19,532 and €15,295, respectively, for its management services during the nine months ended September 30, 2019 and 2018. As of September 30, 2019 and December 31, 2018, the Company had accounts receivable from the General Partner in the amount of €197 and €176, respectively. As of September 30, 2019 and December 31, 2018, the Company had accounts payable to the General Partner in the amount of €13,756 and €47,205, respectively.

Cash and cash equivalents

Cash and cash equivalents	9 Months Ended
	Sep. 30, 2019
Cash and cash equivalents
Cash and cash equivalents	5. Cash and cash equivalents As of September 30, 2019 and December 31, 2018, cash and cash equivalents are as follows: Cash and cash equivalents in € THOUS September 30, December 31, 2019 2018 Cash 757,340 831,885 Securities and time deposits 207,714 1,313,747 Cash and cash equivalents 965,054 2,145,632 The cash and cash equivalents disclosed in the table above, and in the consolidated statements of cash flows, include at September 30, 2019 an amount of €9,862 (December 31, 2018: €5,002) from collateral requirements towards an insurance company in North America that are not available for use.

Trade accounts and other receiv

Trade accounts and other receivables	9 Months Ended
	Sep. 30, 2019
Trade accounts and other receivables
Trade accounts and other receivables	6. Trade accounts and other receivables As of September 30, 2019 and December 31, 2018, trade accounts and other receivables are as follows: Trade accounts and other receivables in € THOUS September 30, December 31, 2019 2018 thereof credit- thereof credit- impaired impaired Trade accounts and other receivables, gross 3,644,079 367,864 3,455,721 325,240 thereof finance lease receivables 52,617 — 28,726 — less allowances (132,959) (90,630) (118,015) (85,775) Trade accounts and other receivables 3,511,120 277,233 3,337,706 239,465 The other receivables in the amount of €98,488 include receivables from finance leases, operating leases and insurance contracts (December 31, 2018: €66,496). All trade accounts and other receivables are due within one year. A small portion of the trade account receivables are subject to factoring agreements. Trade accounts receivables and finance lease receivables with a term of more than one year in the amount of €126,727 (December 31, 2018: €120,668) are included in the balance sheet item "Other non-current assets."

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventories
Inventories	7. Inventories At September 30, 2019 and December 31, 2018, inventories consisted of the following: Inventories in € THOUS September 30, December 31, 2019 2018 Finished goods 951,211 774,133 Health care supplies 418,057 391,593 Raw materials and purchased components 247,424 224,054 Work in process 104,398 77,023 Inventories 1,721,090 1,466,803

Short-term debt and short-term

Short-term debt and short-term debt from related parties	9 Months Ended
	Sep. 30, 2019
Short-term debt and short-term debt from related parties
Short-term debt and short-term debt from related parties	8. Short-term debt and short-term debt from related parties At September 30, 2019 and December 31, 2018, short-term debt and short-term debt from related parties consisted of the following: Short-term debt and short-term debt from related parties in € THOUS September 30, December 31, 2019 2018 Commercial paper program 999,878 999,873 Borrowings under lines of credit 565,828 204,491 Other 73 930 Short-term debt 1,565,779 1,205,294 Short-term debt from related parties (see note 4 c) 357,900 188,900 Short-term debt and short-term debt from related parties 1,923,679 1,394,194 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, 2019, cash and borrowings under lines of credit in the amount of €457,487 (December 31, 2018: €122,256) were offset under this cash management system. Commercial paper program The Company maintains a commercial paper program under which short-term notes of up to €1,000,000 can be issued. At September 30, 2019, the outstanding commercial paper amounted to €1,000,000 (December 31, 2018: €1,000,000). Other At September 30, 2019, the Company had €73 (December 31, 2018: €930) of other debt outstanding related to fixed payments outstanding for acquisitions. Short-term debt from related parties On July 31, 2019, the Company and certain of its subsidiaries, as borrowers, and Fresenius SE, as lenders, amended and restated an unsecured loan agreement to increase the aggregate amount from $400,000 to €600,000. The Company and certain of its subsidiaries may request and receive one or more short-term advances until maturity on July 31, 2022. For further information on short-term debt from related parties, see note 4 c).

Long-term debt

Long-term debt	9 Months Ended
	Sep. 30, 2019
Long-term debt
Long-term debt	9. Long-term debt As of September 30, 2019 and December 31, 2018, long-term debt consisted of the following: Long-term debt in € THOUS September 30, December 31, 2019 2018 Amended 2012 Credit Agreement 2,446,848 1,887,357 Bonds 3,306,538 3,700,446 Convertible Bonds 397,918 393,232 Accounts Receivable Facility 669,021 — Capital lease obligations (1) — 36,144 Other 236,432 134,855 Long-term debt (2) 7,056,757 6,152,034 Less current portion (970,917) (1,106,519) Long-term debt, less current portion (2) 6,085,840 5,045,515 (1) As of December 31, 2018, this line item included lease liabilities from capital leases in accordance with IAS 17. From 2019, these are transferred to balance sheet items "Current portion of long-term lease liabilities" and "Long-term lease liabilities, less current portion" (see Note 1). (2) Labeled as "Long-term debt and capital lease obligations, less current portion" as of December 31, 2018, this line item included lease liabilities from capital leases in accordance with IAS 17. From 2019, these are transferred to balance sheet item "Long-term lease liabilities, less current portion" (see Note 1). On June 20, 2019, Fresenius Medical Care US Finance III, Inc. issued bonds with a volume of $500,000. The bonds have a maturity of 10 years and a coupon of 3.75%. The bonds were issued at a price of 98.461%. The proceeds were used for general corporate purposes and the refinancing of maturing liabilities. The bonds issued by FMC Finance VIII S.A. in the amount of €250,000 and the bonds issued by Fresenius Medical Care US Finance II, Inc. in the amount of $800,000, which were due on July 31, 2019, were redeemed at maturity. Amended 2012 Credit Agreement The following table shows the available and outstanding amounts under the Amended 2012 Credit Agreement at September 30, 2019 and December 31, 2018: Amended 2012 Credit Agreement-Maximum amount available and balance outstanding in THOUS Maximum amount available Balance outstanding September 30, 2019 September 30, 2019 (1) Revolving credit USD 2017 / 2022 $ 900,000 € 826,522 $ 300,000 € 275,507 Revolving credit EUR 2017 / 2022 € 600,000 € 600,000 € 325,000 € 325,000 USD term loan 2017 / 2022 $ 1,260,000 € 1,157,131 $ 1,260,000 € 1,157,131 EUR term loan 2017 / 2022 € 294,000 € 294,000 € 294,000 € 294,000 EUR term loan 2017 / 2020 € 400,000 € 400,000 € 400,000 € 400,000 € 3,277,653 € 2,451,638 Maximum amount available Balance outstanding December 31, 2018 December 31, 2018 (1) Revolving credit USD 2017 / 2022 $ 900,000 € 786,026 $ — € — Revolving credit EUR 2017 / 2022 € 600,000 € 600,000 € — € — USD term loan 2017 / 2022 $ 1,350,000 € 1,179,039 $ 1,350,000 € 1,179,039 EUR term loan 2017 / 2022 € 315,000 € 315,000 € 315,000 € 315,000 EUR term loan 2017 / 2020 € 400,000 € 400,000 € 400,000 € 400,000 € 3,280,065 € 1,894,039 (1) Amounts shown are excluding debt issuance costs. Accounts Receivable Facility The following table shows the available and outstanding amounts under the Accounts Receivable Facility at September 30, 2019 and at December 31, 2018: Accounts Receivable Facility-Maximum amount available and balance outstanding in THOUS Maximum amount available Balance outstanding September 30, 2019 (1) September 30, 2019 (2) Accounts Receivable Facility $ 900,000 € 826,522 $ 729,250 € 669,713 Maximum amount available Balance outstanding December 31, 2018 (1) December 31, 2018 (2) Accounts Receivable Facility $ 900,000 € 786,026 $ — € — (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 Accounts Receivable Facility in the amount of $23,460 and $26,631 (€21,545 and €23,259) at September 30, 2019 and December 31, 2018, respectively. These letters of credit are not included above as part of the balance outstanding at September 30, 2019 and December 31, 2018; however, they reduce available borrowings under the Accounts Receivable Facility.

Supplementary information on ca

Supplementary information on capital management	9 Months Ended
	Sep. 30, 2019
Supplementary information on capital management
Supplementary information on capital management	10. Supplementary information on capital management As of September 30, 2019 and December 31, 2018 the total equity in percent of total assets was 40.8% and 49.2%, respectively, and the debt in percent of total assets was 41.2% and 28.8%, respectively. Further information on the Company’s capital management is available in the Annual Report on Form 20‑F as of December 31, 2018. The Company’s financing structure and business model are reflected in the investment grade ratings. The Company is covered and rated investment grade by the three leading rating agencies, Moody’s, Standard & Poor’s and Fitch. Rating (1) Standard & Poor's Moody's Fitch Corporate Credit Rating BBB Baa3 BBB- Outlook stable stable stable (1) A rating is not a recommendation to buy, sell or hold securities of the Company, and may be subject to suspension, change or withdrawal at any time by the assigning rating agency.

Share-based plans

Share-based plans	9 Months Ended
	Sep. 30, 2019
Share-based plans
Share-based plans	11. Share-based plans Fresenius Medical Care Long-Term Incentive Plans 2019 As of December 31, 2018, the FMC-AG & Co. KGaA Long-Term Incentive Plan 2016 (“LTIP 2016”) expired. In order to continue to enable the members of the Management Board, the members of the management boards of affiliated companies and managerial staff members to adequately participate in the long-term, sustained success of the Company, successor programs effective January 1, 2019 were introduced. For members of the Management Board, the Supervisory Board of the Management AG has approved and adopted the Fresenius Medical Care Management AG Management Board Long-Term Incentive Plan 2019 (“MB LTIP 2019”). For plan participants other than the members of the Management Board, the Management Board of the Management AG has approved and adopted the Fresenius Medical Care AG & Co. KGaA Long-Term Incentive Plan 2019 (“LTIP 2019”). The MB LTIP 2019 and the LTIP 2019 are variable compensation programs with long-term incentive effects. As under the LTIP 2016, pursuant to the MB LTIP 2019 and the LTIP 2019, plan participants may be granted so-called “Performance Shares” once or twice during 2019 for the MB LTIP 2019 and throughout 2019 to 2021 for the LTIP 2019. Performance Shares are non-equity, cash-settled virtual compensation instruments which may entitle plan participants to receive a cash payment depending on the achievement of pre-defined performance targets further defined below as well as the Company’s share price development. For members of the Management Board, the Supervisory Board of Management AG will, in due exercise of its discretion and taking into account the individual responsibility and performance of each Management Board member, determine an initial value for each grant for any awards to Management Board members. For plan participants other than the members of the Management Board, such determination will be made by the Management Board. In order to determine the number of Performance Shares each plan participant receives, their respective grant value will be divided by the value per Performance Share at the time of the grant, which is mainly determined based on the average price of the Company’s shares over a period of thirty calendar days prior to the respective grant date. The number of granted Performance Shares may change over the performance period of three years, depending on the level of achievement of the following: (i) revenue growth at constant currency (“Revenue Growth”), (ii) net income growth at constant currency (net income attributable to the shareholders of FMC-AG & Co. KGaA) (“Net Income Growth”) and (iii) return on invested capital (“ROIC”). For the LTIP 2019, the level of achievement for Performance Shares granted in fiscal year 2019 may be subject to an increase if certain targets in relation to the second phase of the Company’s Global Efficiency Program are achieved (“GEP-II targets”). Revenue, net income and ROIC are determined according to the Company’s consolidated reported and audited figures in Euro for the financial statements prepared in accordance with the respective plan terms. Revenue Growth, Net Income Growth and the fulfillment of the GEP-II targets, for the purpose of the relevant plan, are determined at constant currency. An annual target achievement level of 100% will be reached for the Revenue Growth performance target if Revenue Growth is 7% in each individual year of the three-year performance period; Revenue Growth of 0% will lead to a target achievement level of 0% and the maximum target achievement level of 200% will be reached in the case of Revenue Growth of at least 16%. If revenue growth ranges between these values, the degree of target achievement will be linearly interpolated between these values. An annual target achievement level of 100% for the Net Income Growth performance target will be reached if net income growth is 7% in each individual year of the three-year performance period. In the case of Net Income Growth of 0%, the target achievement level will also be 0%; the maximum target achievement of 200% will be reached in the case of Net Income Growth of at least 14%. Between these values, the degree of target achievement will be determined by means of linear interpolation. With regard to ROIC, an annual target achievement level of 100% will be reached if the target ROIC as defined for the respective year is reached. The target ROIC is 7.9% for 2019 and 8.1% for each consecutive year. A target achievement level of 0% will be reached if the ROIC falls below the target ROIC for the respective year by 0.2 percentage points or more, whereas the maximum target achievement level of 200% will be reached if the target ROIC for the respective year is exceeded by 0.2 percentage points or more. The degree of target achievement will be determined by means of linear interpolation if the ROIC ranges between these values. In case the annual ROIC target achievement level in the third year of a performance period is equal or higher than the ROIC target achievement level in each of the two previous years of such performance period, the ROIC target achievement level of the third year is deemed to be achieved for all years of the respective performance period. The achievement level for each of the three performance targets will be weighted annually at one-third to determine the yearly target achievement for each year of the three-year performance period. The level of overall target achievement over the three-year performance period will then be determined on the basis of the mean of these three average yearly target achievements. The overall target achievement can be in a range of 0% to 200%. For the LTIP 2019, the overall target achievement for Performance Shares granted in fiscal year 2019 shall be increased by 20 percentage points if the GEP-II targets achievement is 100%. In case of a GEP-II targets achievement between 0% and 100%, the respective increase of the overall target achievement will be calculated by means of linear interpolation. The overall target achievement increased by the GEP-II targets achievement shall not exceed 200%. The number of Performance Shares granted to the plan participants at the beginning of the performance period will each be multiplied by the level of overall target achievement in order to determine the final number of Performance Shares. For the MB LTIP 2019, the final number of Performance Shares is generally deemed earned four years after the day of a respective grant (the four-year vesting period). The number of such vested Performance Shares is then multiplied by the average Company share price over a period of thirty days prior to the lapse of this four-year vesting period. The respective resulting amount will then be paid to the plan participants as cash compensation. For further detail regarding the terms and conditions of the MB LTIP 2019 please see exhibit 4.17 of this report. For plan participants of the LTIP 2019, the final number of Performance Shares is generally deemed earned three years after the day of a respective grant (the three-year vesting period). The number of such vested Performance Shares is then multiplied by the average Company share price over a period of thirty days prior to the lapse of this three-year vesting period. The respective resulting amount, which is capped in total at an amount equaling 400% of the grant value received by the participant, will then be paid to the plan participants as cash compensation. For further detail regarding the terms and conditions of the LTIP 2019 please see exhibit 4.16 of this report. The first awards under the MB LTIP 2019 were granted on July 29, 2019. In total, 101,600 Performance Shares, the equivalent in Euros at the grant date being €6,484, were awarded under the MB LTIP 2019. The fair value per Performance Share at the grant date was €63.82 for the MB LTIP 2019. The first awards under the LTIP 2019 were granted on July 29, 2019. In total, 793,778 Performance Shares, the equivalent in Euros at the grant date being €51,827, were awarded under the LTIP 2019. The fair value per Performance Share at the grant date was €65.29 for the LTIP 2019.

Employee benefit plans

Employee benefit plans	9 Months Ended
	Sep. 30, 2019
Employee benefit plans
Employee benefit plans	12. Employee benefit plans The Company currently has five principal pension plans, one for German employees, three for French employees and the other covering employees in the United States, the last 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. In 2019, FMCH did not have a minimum funding requirement. For the first nine months of 2019, the Company voluntarily provided €847 to the defined benefit plan. For the remaining period of 2019, the Company expects further voluntarily contributions of €294. The following table provides the calculations of net periodic benefit cost for the three and nine months ended September 30, 2019 and 2018, respectively. Net periodic benefit cost in € THOUS For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Current service cost 7,634 5,427 22,539 19,059 Net interest cost 3,507 3,307 10,424 9,755 Net periodic benefit costs 11,141 8,734 32,963 28,814

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and contingencies
Commitments and contingencies	13. 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. The Company records its litigation reserves for certain legal proceedings and regulatory matters to the extent that the Company determines an unfavorable outcome is probable and the amount of loss can be reasonably estimated. 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 other 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 itself 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. On February 15, 2011, a whistleblower (relator) action under the False Claims Act against FMCH was unsealed by order of the United States District Court for the District of Massachusetts and served by the relator. United States ex rel. Chris Drennen v. Fresenius Medical Care Holdings, Inc., 2009 Civ. 10179 (D. Mass.). The relator’s complaint, which was first filed under seal in February 2009, alleged that FMCH sought and received reimbursement from government payors for serum ferritin and multiple forms of hepatitis B laboratory tests that were medically unnecessary or not properly ordered by a physician. Discovery on the relator’s complaint closed in May 2015. Although the United States initially declined to intervene in the case, the government subsequently changed position. On April 3, 2017, the court allowed the government to intervene with respect only to certain hepatitis B surface antigen tests performed prior to 2011, when Medicare reimbursement rules for such tests changed. On October 11, 2019, the United States and FMCH reached agreement on a settlement under which FMCH has paid $5,200 in exchange for dismissal and release of all claims asserted by the United States or the relator. The settlement leaves unresolved the relator’s attorneys’ claims for fees and expenses and leaves FMCH free to pursue its administrative proceeding to recover certain sums recouped by or provisionally paid to the Medicare program pursuant to a 2013 audit of laboratory tests. The settlement payment, together with the expected results of the relator's attorneys' fee petition and the administrative proceeding, are less than the amount previously reserved by FMCH for the entire matter. Beginning in 2012, the Company received certain communications alleging conduct in countries outside the United States that might violate the Foreign Corrupt Practices Act or other anti-bribery laws. The Company conducted investigations with the assistance of outside counsel and, in a continuing dialogue, advised the Securities and Exchange Commission and the United States Department of Justice (collectively and interchangeably the "government") about these investigations. The government also conducted its own investigations, in which the Company cooperated. In the course of this dialogue, the Company identified and reported to the government, and took remedial actions including employee disciplinary actions with respect to, conduct that resulted in the government seeking monetary penalties including disgorgement of profits and other remedies. This conduct revolved principally around the Company’s products business in countries outside the United States. The Company recorded charges of €200,000 in 2017 and €77,200 in 2018 encompassing estimates for the government’s claims for profit disgorgement, penalties, certain legal expenses, and other related costs or asset impairments believed likely to be necessary for full and final resolution, by litigation or settlement, of the claims and issues arising from the investigation. The increase recorded in 2018 took into consideration preliminary understandings with the government on the financial terms of a potential settlement. Following this increase, which takes into account incurred and anticipated legal expenses, impairments and other costs, the provision totals €223,980 as of December 31, 2018. On March 29, 2019, the Company entered into a non-prosecution agreement with the DOJ and a separate agreement with the SEC intended to resolve fully and finally the government’s claims against the Company arising from the investigations. The Company paid a combined total in penalties and disgorgement of approximately $231,700 to the government in connection with these agreements. As part of the settlement, the Company agreed to retain an independent compliance monitor for a period of two years and to an additional year of self-reporting. As of July 26, 2019, the monitor was appointed and the two-year monitorship period commenced. Company continues to cooperate with government authorities in Germany in their review of the issues resolved in the U.S. settlement. The Company continues to implement 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 compliance with the Foreign Corrupt Practices Act and other applicable anti-bribery laws. Personal injury litigation involving the FMCH’s acid concentrate product, labeled as Granuflo® or Naturalyte®, first arose in 2012 and was substantially resolved by settlement agreed in principle in February 2016 and consummated in November 2017. Remaining individual personal injury cases do not present material risk. FMCH’s affected insurers agreed to the settlement of the acid concentrate personal injury litigation and funded $220,000 of the settlement fund under a reciprocal reservation of rights encompassing certain coverage issues raised by insurers and the FMCH’s claims for indemnification of defense costs. The Company accrued a net expense of $60,000 in connection with the settlement, including legal fees and other anticipated costs. Following entry into the settlement, FMCH’s insurers in the AIG group and FMCH each initiated litigation against the other relating to the AIG group’s coverage obligations under applicable policies. In the coverage litigation, the AIG group seeks to be indemnified by FMCH for a portion of its $220,000 outlay; FMCH seeks to confirm the AIG group’s $220,000 funding obligation, to recover defense costs already incurred by FMCH, and to compel the AIG group to honor defense and indemnification obligations required for resolution of cases not participating in the settlement. As a result of decisions on issues of venue, the coverage litigation is proceeding in the New York state trial court for Manhattan. (National Union Fire Insurance v. Fresenius Medical Care, 2016 Index No. 653108 (Supreme Court of New York for New York County)). Four institutional plaintiffs 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 a remedy the repayment of sums paid to FMCH that are 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 claims were not extinguished by the personal injury litigation settlement described above. All of the institutional cases have been resolved by settlement except for the claims by the State of Louisiana through its Attorney General and Blue Cross Blue Shield Louisiana, which remain active in the combined proceeding. State of Louisiana ex re. Caldwell and Louisiana Health Service & Indemnity Company v. Fresenius Medical Care Airline, et al 2016 Civ. 11035 (U.S.D.C. D. Mass.). The Caldwell and Blue Cross Louisiana cases remain unresolved and are proceeding together in federal court in Boston but are subject to undecided motions for severance and remand. There is no trial date in either case. FMCH has increased its litigation reserves to account for anticipated resolution of these claims. However, at the present time there are no agreements in principle for resolving either case and litigation through final adjudication may be required in them. On September 6, 2018, a special-purpose entity organized under Delaware law for the purpose of pursuing litigation filed a Pure Bill of Discovery in a Florida county court seeking discovery from FMCH related to the personal injury settlement, but no other relief. MSP Recovery Claims Series LLC v. Fresenius Medical Care Holdings, No. 2018‑030366‑CA‑01 (11th Judicial Circuit, Dade County, Florida). The Pure Bill was thereafter removed to federal court and transferred into the multidistrict Fresenius Granuflo/Naturalyte Dialysate Products Liability Litigation in Boston. No.1:13‑MD‑02428‑DPW (D. Mass. 2013). On March 12, 2019, plaintiff amended its Pure Bill by filing a complaint claiming rights to recover monetary damages on behalf of various persons and entities who are alleged to have assigned to plaintiff their rights to recover monetary damages arising from their having provided or paid for medical services for dialysis patients receiving treatments using FMCH’s acid concentrate product. FMCH is responding to the amended complaint. 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 involving contracts relating to the management of in-patient acute dialysis services. FMCH is cooperating in the investigation. In July 2015, the Attorney General for Hawaii issued a civil complaint under the Hawaii False Claims Act alleging a conspiracy pursuant to which certain Liberty Dialysis subsidiaries 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. Hawaii v. Liberty Dialysis—Hawaii, LLC et al., Case No. 15‑1‑1357‑07 (Hawaii 1st 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 its 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. After prevailing on motions by Xerox to preclude it from doing so, FMCH is pursuing 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 civil litigation and administrative action are proceeding in parallel. Trial in the civil litigation is scheduled for April 2020. On August 31, 2015, FMCH received a subpoena under the False Claims Act from the United States Attorney for the District of Colorado (Denver) inquiring into FMCH’s participation in and management of dialysis facility joint ventures in which physicians are partners. FMCH continues to cooperate in the Denver United States Attorney’s Office ("USAO") investigation, which has come to focus on purchases and sales of minority interests in ongoing outpatient facilities between FMCH and physician groups. On November 25, 2015, FMCH received a subpoena under the False Claims Act from the United States Attorney for the Eastern District of New York (Brooklyn) also inquiring into FMCH’s involvement in certain dialysis facility joint ventures in New York. On September 26, 2018, the Brooklyn USAO declined to intervene on the qui tam complaint filed under seal in 2014 that gave rise to this investigation. CKD Project LLC v. Fresenius Medical Care, 2014 Civ. 6646 (E.D.N.Y. November 12, 2014). The court unsealed the complaint, allowing the relator to serve and proceed on its own. The relator—a special-purpose entity formed by law firms to pursue qui tam proceedings—has served its complaint and litigation is proceeding. Beginning October 6, 2015, the United States Attorney for the Eastern District of New York (Brooklyn) has led an investigation, through subpoenas issued under the False Claims Act, utilization and invoicing by FMCH’s subsidiary Azura Vascular Care for a period beginning after FMCH’s acquisition of American Access Care LLC ("AAC") in October 2011. FMCH is cooperating in the Brooklyn USAO investigation. The Brooklyn USAO has indicated that its investigation is nationwide in scope and is focused on whether certain access procedures performed at Azura facilities have been medically necessary and whether certain physician assistants employed by Azura exceeded their permissible scope of practice. Allegations against AAC arising in districts in Connecticut, Florida and Rhode Island relating to utilization and invoicing were settled in 2015. On June 30, 2016, FMCH received a subpoena from the United States Attorney for the Northern District of Texas (Dallas) seeking information under the False Claims Act about the use and management of pharmaceuticals including Velphoro®. The investigation encompasses DaVita, Amgen, Sanofi, and other pharmaceutical manufacturers and includes inquiries into whether certain compensation transfers between manufacturers and pharmacy vendors constituted unlawful kickbacks. FMCH understands that this investigation is substantively independent of the $63,700 settlement by DaVita Rx announced on December 14, 2017 in the matter styled United States ex rel. Gallian v. DaVita Rx, 2016 Civ. 0943 (N.D. Tex.). FMCH has cooperated in the investigation. On November 18, 2016, FMCH received a subpoena under the False Claims Act from the United States Attorney for the Eastern District of New York (Brooklyn) seeking documents and information relating to the operations of Shiel Medical Laboratory, Inc., which FMCH acquired in October 2013. In the course of cooperating in the investigation and preparing to respond to the subpoena, FMCH identified falsifications and misrepresentations in documents submitted by a Shiel salesperson that relate to the integrity of certain invoices submitted by Shiel for laboratory testing for patients in long term care facilities. On February 21, 2017, FMCH terminated the employee and notified the United States Attorney of the termination and its circumstances. The terminated employee’s conduct is expected to result in demands for FMCH to refund overpayments and to pay related penalties under applicable laws, but the monetary value of such payment demands cannot yet be reasonably estimated. FMCH contends that, under the asset sale provisions of its 2013 Shiel acquisition, it is not responsible for misconduct by the terminated employee or other Shiel employees prior to the date of the acquisition. The Brooklyn USAO continues to investigate a range of issues involving Shiel, including allegations of improper compensation (kickbacks) to physicians, and has disclosed that multiple sealed qui tam complaints underlie the investigation. On December 12, 2017, FMCH sold to Quest Diagnostics certain Shiel operations that are the subject of this Brooklyn subpoena, including the misconduct reported to the United States Attorney. Under the Quest Diagnostics sale agreement, FMCH retains responsibility for responding to the Brooklyn investigation and for liabilities arising from conduct occurring after its 2013 acquisition of Shiel and prior to its sale of Shiel to Quest Diagnostics. FMCH is cooperating in the investigation. On December 14, 2016, the Center for Medicare & Medicaid Services ("CMS"), which administers the federal Medicare program, published an Interim Final Rule ("IFR") titled "Medicare Program; Conditions for Coverage for End-Stage Renal Disease Facilities-Third Party Payment." The IFR would have amended the Conditions for Coverage for dialysis providers, like FMCH and would have effectively enabled insurers to reject premium payments made by or on behalf of patients who received grants for individual market coverage from the American Kidney Fund ("AKF" or "the Fund"). The IFR could thus have resulted in those patients losing individual insurance market coverage. The loss of coverage for these patients would have had a material and adverse impact on the operating results of FMCH. On January 25, 2017, a federal district court in Texas responsible for litigation initiated by a patient advocacy group and dialysis providers including FMCH preliminarily enjoined CMS from implementing the IFR. Dialysis Patient Citizens v. Burwell, 2017 Civ. 0016 (E.D. Texas, Sherman Div.). The preliminary injunction was based on CMS’ failure to follow appropriate notice-and-comment procedures in adopting the IFR. The injunction remains in place and the court retains jurisdiction over the dispute. On June 22, 2017, CMS requested a stay of proceedings in the litigation pending further rulemaking concerning the IFR. CMS stated, in support of its request, that it expects to publish a Notice of Proposed Rulemaking in the Federal Register and otherwise pursue a notice-and-comment process. Plaintiffs in the litigation, including FMCH, consented to the stay, which was granted by the court on June 27, 2017. On January 3, 2017, FMCH received a subpoena from the United States Attorney for the District of Massachusetts under the False Claims Act inquiring into FMCH’s interactions and relationships with the AKF, including FMCH’s charitable contributions to the Fund and the Fund’s financial assistance to patients for insurance premiums. FMCH cooperated in the investigation, which was part of a broader investigation into charitable contributions in the medical industry. On August 1, 2019, the United States District Court for the District of Massachusetts entered an order announcing that the United States had declined to intervene on a qui tam complaint underlying the USAO Boston investigation and unsealing the relator’s complaint so as to permit the relator to serve the complaint and proceed on his own. The relator has not served the complaint. On April 8, 2019, United Healthcare served a demand for arbitration against FMCH. The demand asserts that FMCH unlawfully "steered" patients by waiving co-payments and other means away from coverage under government-funded insurance plans including Medicare into United Healthcare’s commercial plans, including Affordable Care Act exchange plans. FMCH is contesting United Healthcare’s claims and demands. A final hearing date has been scheduled in the arbitration for September 2020. In early May 2017, the United States Attorney for the Middle District of Tennessee (Nashville) issued identical subpoenas to FMCH and two subsidiaries under the False Claims Act concerning FMCH’s retail pharmaceutical business. The investigation is exploring allegations related to improper inducements to dialysis patients to fill oral prescriptions through FMCH’s pharmacy service, improper billing for returned pharmacy products and other allegations similar to those underlying the $63,700 settlement by DaVita Rx in Texas announced on December 14, 2017. United States ex rel. Gallian, 2016 Civ. 0943 (N.D. Tex.). FMCH is cooperating in the investigation. On March 12, 2018, Vifor Fresenius Medical Care Renal Pharma Ltd. and Vifor Fresenius Medical Care Renal Pharma France S.A.S. (collectively, “VFMCRP”) (the joint venture between Vifor Pharma and FMC-AG & Co. KGaA), filed a complaint for patent infringement against Lupin Atlantis Holdings SA and Lupin Pharmaceuticals Inc. (collectively, “Lupin”), and Teva Pharmaceuticals USA, Inc. (“Teva”) in the U.S. District Court for the District of Delaware (Case 1:18‑cv‑00390‑LPS). The patent infringement action is in response to Lupin and Teva’s filings of Abbreviated New Drug Applications (ANDA) with the FDA for generic versions of Velphoro®. Velphoro® is protected by patents listed in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations, also known as the Orange Book. The complaint was filed within the 45‑day period provided for under the Hatch-Waxman legislation, and triggered a stay of FDA approval of the ANDAs for 30 months (2.5 years) (specifically, up to July 29, 2020 for Lupin’s ANDA; and August 6, 2020 for Teva’s ANDA), or a shorter time if a decision in the infringement suit is reached that the patents-at-issue are invalid or not infringed. In response to another ANDA being filed for a generic Velphoro®, VFMCRP filed a complaint for patent infringement against Annora Pharma Private Ltd., and Hetero Labs Ltd. (collectively, “Annora”), in the U.S. District Court for the District of Delaware on December 17, 2018. A 30‑month stay of FDA approval of Annora’s ANDA will run through to May 30, 2021. On December 17, 2018, FMCH was served with a subpoena under the False Claims Act from the United States Attorney for the District of Colorado (Denver) as part of an investigation of allegations against DaVita, Inc. involving transactions between FMCH and DaVita. The subject transactions include sales and purchases of dialysis facilities, dialysis-related products and pharmaceuticals, including dialysis machines and dialyzers, and contracts for certain administrative services. FMCH is cooperating in the investigation. On June 28, 2019, certain FMCH subsidiaries filed a complaint against the United States seeking to recover monies owed to them by the United States Department of Defense under the Tricare program, and to preclude Tricare from recouping monies previously paid. Bio-Medical Applications of Georgia, Inc., et al. v. United States, CA 19‑947, United States Court of Federal Claims. Tricare provides reimbursement for dialysis treatments and other medical care provided to members of the military services, their dependents and retirees. The litigation challenges unpublished administrative actions by Tricare administrators reducing the rate of compensation paid for dialysis treatments provided to Tricare beneficiaries based on a recasting or “crosswalking” of codes used and followed in invoicing without objection for many years. Tricare administrators have acknowledged the unpublished administrative action and declined to change or abandon it but have not articulated a defense of the action. The United States has not yet been required to respond to the complaint and will not be required to do so before November 25, 2019. FMCH has imposed a constraint on revenue otherwise recognized from the Tricare program that it believes, in consideration of facts currently known, sufficient to account for the possibility of not prevailing in the litigation. From time to time, the Company is a party to or may be threatened with other litigation or arbitration, claims or assessments arising in the ordinary course of its business. Management regularly analyzes current information including, as applicable, the Company’s defenses and insurance coverage and, as necessary, provides accruals for probable liabilities for the eventual disposition of these matters. The Company, like other healthcare providers, insurance plans and suppliers, conducts its operations under intense government regulation and scrutiny. It must comply with regulations which relate to or govern the safety and efficacy of medical products and supplies, the marketing and distribution of such products, the operation of manufacturing facilities, laboratories, dialysis clinics 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 to significant adverse regulatory actions by the U.S. Food and Drug Administration ("FDA") and comparable regulatory authorities outside the U.S. These regulatory actions could include warning letters or other enforcement notices from the FDA, and/or comparable foreign regulatory authority which may require the Company to expend significant time and resources in order to implement appropriate corrective actions. If the Company does not address matters raised in warning letters or other enforcement notices to the satisfaction of the FDA and/or comparable regulatory authorities outside the U.S., these regulatory authorities could take additional actions, including product recalls, injunctions against the distribution of products or operation of manufacturing plants, civil penalties, seizures 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 enforcement 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 the personal data ("PD") of its patients and beneficiaries throughout the United States and other parts of the world and engages with other business associates to help it carry out its health care activities. 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 and its business associates. On occasion, the Company or its business associates may experience a breach under the Health Insurance Portability and Accountability Act Privacy Rule and Security Rules, the EU’s General Data Protection Regulation and or other similar laws ("Data Protection Laws") when there has been impermissible use, access, or disclosure of unsecured PD or when the Company or its business associates neglect to implement the required administrative, technical and physical safeguards of its electronic systems and devices, or a data breach that results in impermissible use, access or disclosure of personal identifying information of its employees, patients and beneficiaries. On those occasions, the Company must comply with applicable breach notification requirements. The Company relies upon its management structure, regulatory and legal resources, and the effective operation of its compliance program to direct, manage and monitor the activities of its employees. On occasion, the Company may identify instances where employees or other agents deliberately, recklessly or inadvertently contravene the Company’s policies or violate applicable law. The actions of such persons may subject the Company and its subsidiaries to liability under the Anti-Kickback Statute, the Stark Law, the False Claims Act, Data Protection Laws, the Health Information Technology for Economic and Clinical Health Act and the Foreign Corrupt Practices Act, among other laws and comparable state laws or laws 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 have 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 against it and has had lawsuits filed against it relating to alleged patent infringements or businesses that it has acquired or divested. These claims and suits relate both to operation of the businesses and to the acquisition and divestiture transactions. The Company has, when appropriate, 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 operations. Any claims, regardless of their merit or eventual outcome, could have a material adverse effect on the Company’s reputation and business. In Germany, the tax audits for the years 2006 through 2009 have been substantially completed. The German tax authorities have indicated a re-qualification of dividends received in connection with intercompany mandatorily redeemable preferred shares into fully taxable interest payments for these and subsequent years until 2013. The Company has defended its position and will avail itself of appropriate remedies. The Company is also subject to ongoing and future tax audits in the U.S., Germany and other jurisdictions in the ordinary course of business. Tax authorities routinely pursue adjustments to the Company’s tax returns and disallowances of claimed tax deductions. When appropriate, the Company defends these adjustments and disallowances and asserts its own claims. A successful tax related claim against the Company or any of its subsidiaries could have a material adverse effect upon its business, financial condition and results of operations. 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, 2019
Financial instruments
Financial instruments	14. Financial instruments The following tables show the carrying amounts and fair values of the Company’s financial instruments at September 30, 2019 and December 31, 2018: Carrying amount and fair value of financial instruments in € THOUS September 30, 2019 Carrying amount Fair value Amortized cost FVPL FVOCI Not classified Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) 757,340 207,714 — — 965,054 — 207,714 — Trade accounts and other receivables 3,438,724 — — 72,396 3,511,120 — — — Accounts receivable from related parties 78,554 — — — 78,554 — — — Derivatives - cash flow hedging instruments — — — 847 847 — 847 — Derivatives - not designated as hedging instruments — 10,773 — — 10,773 — 10,773 — Equity investments — 196,319 37,274 — 233,593 12,945 31,794 188,854 Debt securities — 104,718 277,415 — 382,133 377,615 4,518 — Other financial assets 128,344 — — 109,835 238,179 — — — Other current and non-current assets 128,344 311,810 314,689 110,682 865,525 — — — Financial assets 4,402,962 519,524 314,689 183,078 5,420,253 — — — Accounts payable 654,602 — — — 654,602 — — — Accounts payable to related parties 255,242 — — — 255,242 — — — Short-term debt and short-term debt from related parties 1,923,679 — — — 1,923,679 — — — Long-term debt 7,056,757 — — — 7,056,757 3,898,684 3,357,713 — Long-term lease liabilities and long-term lease liabilities from related parties — — — 4,688,759 4,688,759 — — — Derivatives - cash flow hedging instruments — — — 4,596 4,596 — 4,596 — Derivatives - not designated as hedging instruments — 11,165 — — 11,165 — 11,165 — Variable payments outstanding for acquisitions — 108,966 — — 108,966 — — 108,966 Noncontrolling interest subject to put provisions — — — 858,867 858,867 — — 858,867 Other financial liabilities 1,507,133 — — — 1,507,133 — — — Other current and non-current liabilities 1,507,133 120,131 — 863,463 2,490,727 — — — Financial liabilities 11,397,413 120,131 — 5,552,222 17,069,766 — — — (1) Highly liquid short-term investments are categorized in level 2 of the fair value hierarchy. Other cash and cash equivalents is not categorized . Carrying amount and fair value of financial instruments in € THOUS December 31, 2018 Carrying amount Fair value Amortized cost FVPL FVOCI Not classified Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) 831,885 1,313,747 — — 2,145,632 — 1,313,747 — Trade accounts and other receivables 3,288,258 — — 49,448 3,337,706 — — — Accounts receivable from related parties 92,662 — — — 92,662 — — — Derivatives - cash flow hedging instruments — — — 1,492 1,492 — 1,492 — Derivatives - not designated as hedging instruments — 18,222 — — 18,222 — 18,222 — Equity investments — 106,350 34,377 — 140,727 13,869 126,858 — Debt securities — 83,213 250,822 — 334,035 329,821 4,214 — Other financial assets 144,838 — — 107,125 251,963 — — — Other current and non-current assets 144,838 207,785 285,199 108,617 746,439 — — — Financial assets 4,357,643 1,521,532 285,199 158,065 6,322,439 — — — Accounts payable 641,271 — — — 641,271 — — — Accounts payable to related parties 153,781 — — — 153,781 — — — Short-term debt and short-term debt from related parties 1,394,194 — — — 1,394,194 — — — Long-term debt and capital lease obligations 6,115,890 — — 36,144 6,152,034 4,227,684 2,022,057 — Derivatives - cash flow hedging instruments — — — 1,125 1,125 — 1,125 — Derivatives - not designated as hedging instruments — 18,911 — — 18,911 — 18,911 — Variable payments outstanding for acquisitions — 172,278 — — 172,278 — — 172,278 Noncontrolling interest subject to put provisions — — — 818,871 818,871 — — 818,871 Other financial liabilities 1,467,767 — — — 1,467,767 — — — Other current and non-current liabilities 1,467,767 191,189 — 819,996 2,478,952 — — — Financial liabilities 9,772,903 191,189 — 856,140 10,820,232 — — — (1) Highly liquid short-term investments are categorized in level 2 of the fair value hierarchy. Other cash and cash equivalents is not categorized. Derivative and non-derivative financial instruments are categorised in the following three-tier fair value hierarchy that reflects the significance of the inputs in making the measurements. Level 1 is defined as observable inputs, such as quoted prices in active markets. Level 2 is defined as inputs other than quoted prices in active markets that are directly or indirectly observable. Level 3 is defined as unobservable inputs for which little or no market data exists, therefore requiring the Company to develop its own assumptions. Fair value information is not provided for lease liabilities and for financial instruments, if the carrying amount is a reasonable estimate of fair value due to the relatively short period of maturity of these instruments. Transfers between levels of the fair value hierarchy have not occurred as of December 31, 2018. The Company accounts for possible transfers at the end of the reporting period. At September 30, 2019 the Company transferred its Humacyte, Inc. investment with a carrying amount of €186,427 from Level 2 to Level 3, because the Company remeasured the fair value using a discounted cash flow model after events or changes in circumstances were identified that had a significant effect on the fair value of the investment. Derivative financial instruments In order to manage the risk of currency exchange rate fluctuations and interest rate fluctuations, the Company enters into various hedging transactions by means of derivative instruments with highly rated financial institutions. The Company primarily enters into foreign exchange forward contracts and interest rate swaps. Derivative contracts that do not qualify for hedge accounting are utilized for economic purposes. The Company does not use financial instruments for trading purposes. Additionally, the Company purchased share options in connection with the issuance of the Convertible Bonds. Any change in the Company’s share price above the conversion price would be offset by a corresponding value change in the share options. Non-derivative financial instruments The significant methods and assumptions used for the classification and measurement of non-derivative financial instruments are as follows: The Company assessed its business models and the cash flow characteristics of its financial assets. The vast majority of the non-derivative financial assets are held in order to collect the contractual cash flows. The contractual terms of the financial assets allow the conclusion that the cash flows represent payment of principle and interest only. Trade accounts and other receivables, Accounts receivable from related parties and Other financial assets are consequently measured at amortized cost. Cash and cash equivalents are comprised of cash funds and other short-term investments. Cash funds are measured at amortized cost. Short-term investments are highly liquid and readily convertible to known amounts of cash. Short-term investments are measured at FVPL. The risk of changes in fair value is insignificant. Equity investments are not held for trading. At initial recognition the Company elected, on an instrument-by-instrument basis, to represent subsequent changes in the fair value of individual strategic investments in OCI. If equity instruments are quoted in an active market, the fair value is based on price quotations at the period-end-date. From time to time the Company engages external valuation firms to determine the fair value of Level 3 equity investments. The external valuation uses a discounted cash flow model, which includes significant unobservable inputs such as investment specific forecasted financial statements, weighted average cost of capital, that reflects current market assessments as well as a terminal growth rate. The majority of the debt securities are held within a business model whose objective is achieving both contractual cash flows and sell the securities. The standard coupon bonds give rise on specified dates to cash flows that are solely payments of principal and interest on the outstanding principal amount. Subsequently these financial assets have been classified as FVOCI. The smaller part of debt securities do not give rise to cash flows that are solely payments of principle and interest. Consequently, these securities are measured at FVPL. In general most of the debt securities are quoted in an active market. Long-term debt is recognized at its carrying amount. The fair values of major long-term debt are calculated on the basis of market information. Liabilities for which market quotes are available are measured using these quotes. The fair values of the other long-term debt 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. Variable payments outstanding for acquisitions are recognized at their fair value. The estimation of the individual fair values is based on the key inputs of the arrangement that determine the future contingent payment as well as the Company’s expectation of these factors. The Company assesses the likelihood and timing of achieving the relevant objectives. The underlying assumptions are reviewed regularly. Noncontrolling interests subject to put provisions are recognized at their fair value. The methodology the Company uses to estimate the fair values 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. From time to time the Company engages external valuation firms for the valuation of the put provisions. The external valuation estimates the fair values using a combination of discounted cash flows and a multiple of earnings and/or revenue. When applicable, the obligations are discounted at a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the liability. The estimated fair values of the noncontrolling interests subject to these put provisions can also fluctuate, and the discounted cash flows as well as the implicit multiple of earnings and/or revenue at which these noncontrolling interest obligations may ultimately be settled could vary significantly from the Company’s current estimates depending upon market conditions. Following is a roll forward of variable payments outstanding for acquisitions and noncontrolling interests subject to put provisions at September 30, 2019 and December 31, 2018: Reconciliation from beginning to ending balance of level 3 financial instruments in € THOUS 2019 2018 Variable Variable payments Noncontrolling payments Noncontrolling outstanding for interests subject outstanding for interests subject acquisitions to put provisions acquisitions to put provisions Beginning balance at January 1, 172,278 818,871 205,792 830,773 Increase 7,748 45,257 19,051 53,731 Decrease (34,573) (18,421) (15,734) (50,706) (Gain) loss recognized in profit or loss (34,980) 109,249 (36,327) 142,279 (Gain) loss recognized in equity — (23,365) — (50,612) Dividends — (106,043) — (139,742) Foreign currency translation and other changes (1,507) 33,319 (504) 33,148 Ending balance at September 30, and December 31, 108,966 858,867 172,278 818,871

Segment and corporate informati

Segment and corporate information	9 Months Ended
	Sep. 30, 2019
Segment and corporate information
Segment and corporate information	15. 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. The operating segments are determined based upon how the Company manages its businesses with geographical responsibilities. All segments are primarily engaged in providing health care services and the distribution of products and equipment for the treatment of ESRD and other extracorporeal therapies. 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 measures are revenue, operating income and operating income margin. The Company does not include 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 headquarters’ overhead charges, including accounting and finance, because the Company believes that these costs are also not within the control of the individual segments. Production of products, production asset management, quality and supply chain management as well as procurement related to production are centrally managed at Corporate. The Company’s global research and development is also centrally managed at Corporate. These corporate activities do not fulfill the definition of a segment according to IFRS 8, Operating Segments. Products are transferred to the segments at cost; therefore, no internal profit is generated. The associated internal revenue for the product transfers and their elimination are recorded as corporate activities. 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 allocated to a segment but are accounted for as Corporate. Information pertaining to the Company’s segment and Corporate activities for the three- and nine-months periods ended September 30, 2019 and 2018 is set forth below: Segment and corporate information in € THOUS North Asia- Latin America EMEA Pacific America Segment Segment Segment Segment Segment Total Corporate Total Three months ended September 30, 2019 Revenue from contracts with customers 3,002,068 676,340 457,715 181,280 4,317,403 5,772 4,323,175 Other revenue external customers 71,271 6,943 16,836 778 95,828 — 95,828 Revenue external customers 3,073,339 683,283 474,551 182,058 4,413,231 5,772 4,419,003 Inter-segment revenue 719 21 35 94 869 (869) — Revenue 3,074,058 683,304 474,586 182,152 4,414,100 4,903 4,419,003 Operating income 477,432 99,878 90,382 10,576 678,268 (82,880) 595,388 Interest (104,724) Income before income taxes 490,664 Depreciation and amortization (269,219) (45,518) (24,709) (9,030) (348,476) (60,809) (409,285) Income (loss) from equity method investees 20,124 (831) 1,039 212 20,544 — 20,544 Additions of property, plant and equipment, intangible assets and right of use assets 286,472 46,154 37,789 12,112 382,527 89,864 472,391 Three months ended September 30, 2018 Revenue from contracts with customers 2,780,991 611,862 407,369 169,918 3,970,140 3,330 3,973,470 Other revenue external customers 61,764 7,661 14,089 868 84,382 — 84,382 Revenue external customers 2,842,755 619,523 421,458 170,786 4,054,522 3,330 4,057,852 Inter-segment revenue 139 — 150 103 392 (392) — Revenue 2,842,894 619,523 421,608 170,889 4,054,914 2,938 4,057,852 Operating income 525,191 87,283 66,284 (1,504) 677,254 (150,532) 526,722 Interest (75,910) Income before income taxes 450,812 Depreciation and amortization (94,084) (28,962) (11,525) (3,177) (137,748) (41,033) (178,781) Income (loss) from equity method investees 20,236 (2,249) 680 323 18,990 (1,000) 17,990 Additions of property, plant and equipment and intangible assets 145,109 36,451 13,791 45,314 240,665 100,200 340,865 Nine months ended September 30, 2019 Revenue from contracts with customers 8,828,904 1,951,464 1,308,409 513,392 12,602,169 15,332 12,617,501 Other revenue external customers 192,305 32,612 51,714 2,460 279,091 — 279,091 Revenue external customers 9,021,209 1,984,076 1,360,123 515,852 12,881,260 15,332 12,896,592 Inter-segment revenue 1,694 21 491 176 2,382 (2,382) — Revenue 9,022,903 1,984,097 1,360,614 516,028 12,883,642 12,950 12,896,592 Operating income 1,278,706 334,043 254,441 27,858 1,895,048 (241,853) 1,653,195 Interest (326,927) Income before income taxes 1,326,268 Depreciation and amortization (747,405) (139,863) (70,139) (25,061) (982,468) (176,194) (1,158,662) Income (loss) from equity method investees 65,953 (5,352) 1,601 856 63,058 — 63,058 Total assets 22,353,520 4,056,993 2,746,848 899,511 30,056,872 3,112,531 33,169,403 thereof investments in equity method investees 385,604 173,610 98,863 24,540 682,617 — 682,617 Additions of property, plant and equipment, intangible assets and right of use assets 777,523 131,298 83,707 40,918 1,033,446 243,429 1,276,875 Nine months ended September 30, 2018 Revenue from contracts with customers 8,420,185 1,887,078 1,193,561 502,172 12,002,996 11,081 12,014,077 Other revenue external customers 168,332 20,565 41,578 2,634 233,109 — 233,109 Revenue external customers 8,588,517 1,907,643 1,235,139 504,806 12,236,105 11,081 12,247,186 Inter-segment revenue 1,369 303 468 154 2,294 (2,294) — Revenue 8,589,886 1,907,946 1,235,607 504,960 12,238,399 8,787 12,247,186 Operating income 2,173,372 301,140 218,355 23,779 2,716,646 (291,949) 2,424,697 Interest (243,551) Income before income taxes 2,181,146 Depreciation and amortization (279,731) (86,240) (33,671) (13,606) (413,248) (120,769) (534,017) Income (loss) from equity method investees 57,897 (6,964) 1,774 710 53,417 (1,000) 52,417 Total assets 16,519,127 3,687,215 2,240,919 693,210 23,140,471 2,446,615 25,587,086 thereof investments in equity method investees 331,961 175,220 98,380 24,518 630,079 — 630,079 Additions of property, plant and equipment and intangible assets 459,768 102,427 37,207 56,742 656,144 198,701 854,845

Supplementary cash flow informa

Supplementary cash flow information	9 Months Ended
	Sep. 30, 2019
Supplementary cash flow information
Supplementary cash flow information	16. Supplementary cash flow information The following additional information is provided with respect to net cash provided by (used in) investing activities: Details for net cash provided by (used in) investing activities in € THOUS For the nine months ended September 30, 2019 2018 Details for acquisitions Assets acquired (2,338,777) (241,677) Liabilities assumed 237,921 12,222 Noncontrolling interests subject to put provisions 20,715 11,805 Noncontrolling interests 61,995 42,722 Non-cash consideration 19,106 9,629 Cash paid (1,999,040) (165,299) Less cash acquired 48,945 3,015 Net cash paid for acquisitions (1,950,095) (162,284) Cash paid for investments (24,190) (574,475) Cash paid for intangible assets (49,853) (71,494) Total cash paid for acquisitions and investments, net of cash acquired, and purchases of intangible assets (2,024,138) (808,253) Details for divestitures Cash received from sale of subsidiaries or other businesses, less cash disposed 43,488 1,518,351 Cash received from divestitures of securities 12,337 148,864 Cash received from repayment of loans — 79 Proceeds from divestitures 55,825 1,667,294 Acquisitions of the last twelve months decreased net income (net income attributable to shareholders of FMC-AG & Co. KGaA) for the nine months ended September 30, 2019 by €57,452 (excluding the costs of the acquisitions).

Events occurring after the bala

Events occurring after the balance sheet date	9 Months Ended
	Sep. 30, 2019
Events occurring after the balance sheet date
Events occurring after the balance sheet date	17. Events occurring after the balance sheet date On October 29, 2019, the Company appointed Dr. Frank Maddux, the Company's Global Chief Medical Officer, to the Management Board. He will start in his new position on January 1, 2020. No futher significant activities have taken place subsequent to the balance sheet date September 30, 2019 that have a material impact on the key figures and earnings presented. Currently, there are no other significant changes in the Company’s structure, management, legal form or personnel.

The Company and basis of pres_2

The Company and basis of presentation (Tables)	9 Months Ended
	Sep. 30, 2019
The Company and basis of presentation
Reconciliation of IFRS 16 Lease Liabilities	Reconciliation of lease liabilities upon the initial application of IFRS 16 in € THOUS Future minimum rental payments as of December 31, 2018 (IAS 17) 5,527,638 less short-term leases (21,936) less leases of low-value assets (34,145) other (26,975) Gross lease liabilities as of January 1, 2019 5,444,582 Discounting (893,957) Lease liabilities as a result of the initial application of IFRS 16 as of January 1, 2019 4,550,625 Lease liabilities from capital leases as of December 31, 2018 (IAS 17) 36,144 Lease liabilities as of January 1, 2019 4,586,769
Leasing on the consolidated statements of income	Leasing in the consolidated statements of income in € THOUS For the three months For the nine months ended September 30, ended September 30, 2019 2019 Depreciation on right-of-use assets 176,204 519,093 Impairments on right-of-use assets 18,982 18,982 Expenses relating to short-term leases 17,045 39,538 Expenses relating to leases of low-value assets 9,055 20,862 Expenses relating to variable lease payments 6,983 26,138 Interest expense on lease liabilities 42,729 127,779
Leasing on the consolidated balance sheet	Right-of-use assets in € THOUS September 30, 2019 Right-of-use assets: Land 27,036 Right-of-use assets: Buildings and improvements 3,957,825 Right-of-use assets: Machinery and equipment 358,447 Right-of-use assets 4,343,308

Notes to the consolidated sta_2

Notes to the consolidated statements of income (Tables)	9 Months Ended
	Sep. 30, 2019
Notes to the consolidated statements of income
Schedule of Revenue	Revenue in € THOUS For the three months ended September 30, 2019 2018 Revenue from Revenue from contracts with Other contracts with Other customers revenue Total customers revenue Total Health care services Dialysis services 3,155,050 — 3,155,050 2,904,363 — 2,904,363 Care Coordination 271,307 65,959 337,266 295,001 58,767 353,768 3,426,357 65,959 3,492,316 3,199,364 58,767 3,258,131 Health care products Dialysis products 877,008 29,869 906,877 756,759 25,615 782,374 Non-dialysis products 19,810 — 19,810 17,347 — 17,347 896,818 29,869 926,687 774,106 25,615 799,721 Total 4,323,175 95,828 4,419,003 3,973,470 84,382 4,057,852 For the nine months ended September 30, 2019 2018 Revenue from Revenue from contracts with Other contracts with Other customers revenue Total customers revenue Total Health care services Dialysis services 9,232,698 — 9,232,698 8,359,200 — 8,359,200 Care Coordination 849,788 182,335 1,032,123 1,330,471 162,062 1,492,533 10,082,486 182,335 10,264,821 9,689,671 162,062 9,851,733 Health care products Dialysis products 2,479,262 96,756 2,576,018 2,269,019 71,047 2,340,066 Non-dialysis products 55,753 — 55,753 55,387 — 55,387 2,535,015 96,756 2,631,771 2,324,406 71,047 2,395,453 Total 12,617,501 279,091 12,896,592 12,014,077 233,109 12,247,186
Schedule of earnings per share	Reconciliation of basic and diluted earnings per share in € THOUS, except share and per share data For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Numerator: Net income attributable to shareholders of FMC-AG & Co. KGaA 332,584 284,614 857,113 1,557,150 Denominators: Weighted average number of shares outstanding 301,440,412 306,495,661 303,832,868 306,434,923 Potentially dilutive shares — 824,459 83,518 807,212 Basic earnings per share 1.10 0.93 2.82 5.08 Diluted earnings per share 1.10 0.93 2.82 5.07
Schedule of treasury shares	Treasury Stock Total number of shares purchased and retired as part of publicly Average price per announced plans or Total value of Period share programs shares (1) in € in € THOUS December 31, 2017 65.63 1,659,951 108,931 Purchase of Treasury Stock May 2018 86.69 173,274 15,020 June 2018 86.14 257,726 22,201 Repurchased Treasury Stock 86.37 431,000 37,221 Retirement of repurchased Treasury Stock December 2018 87.23 1,091,000 95,159 December 31, 2018 51.00 999,951 50,993 Purchase of Treasury Stock March 2019 69.86 1,629,240 113,816 April 2019 72.83 1,993,974 145,214 May 2019 72.97 147,558 10,766 Repurchased Treasury Stock 71.55 3,770,772 269,796 Retirement of repurchased Treasury Stock June 2019 71.55 3,770,772 269,796 Purchase of Treasury Stock June 2019 67.11 504,672 33,870 July 2019 66.77 1,029,655 68,748 August 2019 57.53 835,208 48,050 September 2019 59.67 627,466 37,444 Repurchased Treasury Stock (2) 62.77 2,997,001 188,112 Total 59.82 3,996,952 239,105 (1) The value of shares repurchased in 2018 and 2019 is inclusive of fees (net of taxes) paid in the amount of approximately €8 and €11, respectively, for services rendered. (2) At September 30, 2019, the maximum number of shares that may be purchased pursuant to the buy-back program expiring on June 17, 2020 is 9,002,999

Acquisition of NxStage Medica_2

Acquisition of NxStage Medical, Inc. (Tables)	9 Months Ended
	Sep. 30, 2019
Estimated Fair Values of Assets Acquired and Liabilities Assumed
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed	Estimated Fair Values of Assets Acquired and Liabilities Assumed-Preliminary in $ THOUS in USD Cash and cash equivalents 47,203 Trade accounts and other receivables 34,062 Inventories 64,945 Other current assets 18,657 Property, plant and equipment 93,657 Right-of-use assets 21,654 Intangible assets and other assets 825,516 Goodwill 1,163,258 Accounts payable, current provisions and other current liabilities (72,003) Deferred taxes (121,139) Lease liabilities (22,065) Other liabilities (26,244) Noncontrolling interests (4,063) Total acquisition cost 2,023,438 Less: Cash acquired (47,203) Net Cash paid 1,976,235
Summary of Pro forma financial information	Pro forma financial Information in € THOUS, except per share data For the nine months ended September 30, 2019 in EUR Pro forma revenue 12,941,303 Pro forma net income attributable to shareholders of FMC-AG & Co. KGaA 842,609 Basic earnings per share 2.77 Diluted earnings per share 2.77

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Related party transactions
Schedule of Related Party Transactions	Service agreements and products with related parties in € THOUS For the nine months ended For the nine months ended September 30, December 31, September 30, 2019 September 30, 2018 2019 2018 Sales of Purchases of Sales of Purchases of goods and goods and goods and goods and Accounts Accounts Accounts Accounts services services services services receivable payable receivable payable Service agreements (1) Fresenius SE 106 19,929 389 17,338 1,097 3,412 378 4,019 Fresenius SE affiliates 2,947 76,802 2,557 71,052 1,089 5,510 681 8,470 Equity method investees 2,162 — 16,107 — 652 — 2,449 — Total 5,215 96,731 19,053 88,390 2,838 8,922 3,508 12,489 Products Fresenius SE 3 — — — — — — — Fresenius SE affiliates 33,374 26,739 26,235 29,548 12,005 7,764 8,750 3,658 Equity method investees — 353,843 — 297,149 — 179,188 — 57,975 Total 33,377 380,582 26,235 326,697 12,005 186,952 8,750 61,633 (1) In addition to the above shown accounts payable, accrued expenses for service agreements with related parties amounted to €5,832 and €9,376 at September 30, 2019 and December 31, 2018, respectively.
Schedule of Related Party Lease Transactions	Lease agreements with related parties in € THOUS For the nine months ended For the nine months ended September 30, 2019 September 30, 2018 September 30, 2019 Interest Lease Right-of-use Lease Depreciation expense expense (1) Lease income Lease expense asset liability Fresenius SE 3,620 342 2,815 — 6,494 31,028 31,233 Fresenius SE affiliates 9,384 1,055 392 — 11,654 93,275 93,630 Total 13,004 1,397 3,207 — 18,148 124,303 124,863 (1) Short-term leases and expenses relating to variable lease payments are exempted from balance sheet recognition .

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	9 Months Ended
	Sep. 30, 2019
Cash and cash equivalents
Summary of Cash and cash equivalents	Cash and cash equivalents in € THOUS September 30, December 31, 2019 2018 Cash 757,340 831,885 Securities and time deposits 207,714 1,313,747 Cash and cash equivalents 965,054 2,145,632

Trade accounts and other rece_2

Trade accounts and other receivables (Tables)	9 Months Ended
	Sep. 30, 2019
Trade accounts and other receivables
Components of Trade accounts and other receivables	Trade accounts and other receivables in € THOUS September 30, December 31, 2019 2018 thereof credit- thereof credit- impaired impaired Trade accounts and other receivables, gross 3,644,079 367,864 3,455,721 325,240 thereof finance lease receivables 52,617 — 28,726 — less allowances (132,959) (90,630) (118,015) (85,775) Trade accounts and other receivables 3,511,120 277,233 3,337,706 239,465

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventories
Summary of Inventories	Inventories in € THOUS September 30, December 31, 2019 2018 Finished goods 951,211 774,133 Health care supplies 418,057 391,593 Raw materials and purchased components 247,424 224,054 Work in process 104,398 77,023 Inventories 1,721,090 1,466,803

Short-term debt and short-ter_2

Short-term debt and short-term debt from related parties (Tables)	9 Months Ended
	Sep. 30, 2019
Short-term debt and short-term debt from related parties
Schedule of short-term debt and short-term debt from related parties	Short-term debt and short-term debt from related parties in € THOUS September 30, December 31, 2019 2018 Commercial paper program 999,878 999,873 Borrowings under lines of credit 565,828 204,491 Other 73 930 Short-term debt 1,565,779 1,205,294 Short-term debt from related parties (see note 4 c) 357,900 188,900 Short-term debt and short-term debt from related parties 1,923,679 1,394,194

Long-term debt (Tables)

Long-term debt (Tables)	9 Months Ended
	Sep. 30, 2019
Long-term debt
Schedule of long-term debt	Long-term debt in € THOUS September 30, December 31, 2019 2018 Amended 2012 Credit Agreement 2,446,848 1,887,357 Bonds 3,306,538 3,700,446 Convertible Bonds 397,918 393,232 Accounts Receivable Facility 669,021 — Capital lease obligations (1) — 36,144 Other 236,432 134,855 Long-term debt (2) 7,056,757 6,152,034 Less current portion (970,917) (1,106,519) Long-term debt, less current portion (2) 6,085,840 5,045,515 (1) As of December 31, 2018, this line item included lease liabilities from capital leases in accordance with IAS 17. From 2019, these are transferred to balance sheet items "Current portion of long-term lease liabilities" and "Long-term lease liabilities, less current portion" (see Note 1). (2) Labeled as "Long-term debt and capital lease obligations, less current portion" as of December 31, 2018, this line item included lease liabilities from capital leases in accordance with IAS 17. From 2019, these are transferred to balance sheet item "Long-term lease liabilities, less current portion" (see Note 1).
Schedule of available and outstanding amounts under the Amended 2012 Credit Agreement	Amended 2012 Credit Agreement-Maximum amount available and balance outstanding in THOUS Maximum amount available Balance outstanding September 30, 2019 September 30, 2019 (1) Revolving credit USD 2017 / 2022 $ 900,000 € 826,522 $ 300,000 € 275,507 Revolving credit EUR 2017 / 2022 € 600,000 € 600,000 € 325,000 € 325,000 USD term loan 2017 / 2022 $ 1,260,000 € 1,157,131 $ 1,260,000 € 1,157,131 EUR term loan 2017 / 2022 € 294,000 € 294,000 € 294,000 € 294,000 EUR term loan 2017 / 2020 € 400,000 € 400,000 € 400,000 € 400,000 € 3,277,653 € 2,451,638 Maximum amount available Balance outstanding December 31, 2018 December 31, 2018 (1) Revolving credit USD 2017 / 2022 $ 900,000 € 786,026 $ — € — Revolving credit EUR 2017 / 2022 € 600,000 € 600,000 € — € — USD term loan 2017 / 2022 $ 1,350,000 € 1,179,039 $ 1,350,000 € 1,179,039 EUR term loan 2017 / 2022 € 315,000 € 315,000 € 315,000 € 315,000 EUR term loan 2017 / 2020 € 400,000 € 400,000 € 400,000 € 400,000 € 3,280,065 € 1,894,039 (1) Amounts shown are excluding debt issuance costs.
Schedule of accounts receivable facility	Accounts Receivable Facility-Maximum amount available and balance outstanding in THOUS Maximum amount available Balance outstanding September 30, 2019 (1) September 30, 2019 (2) Accounts Receivable Facility $ 900,000 € 826,522 $ 729,250 € 669,713 Maximum amount available Balance outstanding December 31, 2018 (1) December 31, 2018 (2) Accounts Receivable Facility $ 900,000 € 786,026 $ — € — (1) Subject to availability of sufficient accounts receivable meeting funding criteria. (2) Amounts shown are excluding debt issuance costs.

Supplementary information on _2

Supplementary information on capital management (Tables)	9 Months Ended
	Sep. 30, 2019
Supplementary information on capital management
Schedule of credit ratings	Rating (1) Standard & Poor's Moody's Fitch Corporate Credit Rating BBB Baa3 BBB- Outlook stable stable stable (1) A rating is not a recommendation to buy, sell or hold securities of the Company, and may be subject to suspension, change or withdrawal at any time by the assigning rating agency.

Employee benefit plans (Tables)

Employee benefit plans (Tables)	9 Months Ended
	Sep. 30, 2019
Employee benefit plans
Schedule of components of net periodic benefit cost	Net periodic benefit cost in € THOUS For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Current service cost 7,634 5,427 22,539 19,059 Net interest cost 3,507 3,307 10,424 9,755 Net periodic benefit costs 11,141 8,734 32,963 28,814

Financial instruments (Tables)

Financial instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Financial instruments
Schedule of carrying amount and fair value of financial instruments	Carrying amount and fair value of financial instruments in € THOUS September 30, 2019 Carrying amount Fair value Amortized cost FVPL FVOCI Not classified Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) 757,340 207,714 — — 965,054 — 207,714 — Trade accounts and other receivables 3,438,724 — — 72,396 3,511,120 — — — Accounts receivable from related parties 78,554 — — — 78,554 — — — Derivatives - cash flow hedging instruments — — — 847 847 — 847 — Derivatives - not designated as hedging instruments — 10,773 — — 10,773 — 10,773 — Equity investments — 196,319 37,274 — 233,593 12,945 31,794 188,854 Debt securities — 104,718 277,415 — 382,133 377,615 4,518 — Other financial assets 128,344 — — 109,835 238,179 — — — Other current and non-current assets 128,344 311,810 314,689 110,682 865,525 — — — Financial assets 4,402,962 519,524 314,689 183,078 5,420,253 — — — Accounts payable 654,602 — — — 654,602 — — — Accounts payable to related parties 255,242 — — — 255,242 — — — Short-term debt and short-term debt from related parties 1,923,679 — — — 1,923,679 — — — Long-term debt 7,056,757 — — — 7,056,757 3,898,684 3,357,713 — Long-term lease liabilities and long-term lease liabilities from related parties — — — 4,688,759 4,688,759 — — — Derivatives - cash flow hedging instruments — — — 4,596 4,596 — 4,596 — Derivatives - not designated as hedging instruments — 11,165 — — 11,165 — 11,165 — Variable payments outstanding for acquisitions — 108,966 — — 108,966 — — 108,966 Noncontrolling interest subject to put provisions — — — 858,867 858,867 — — 858,867 Other financial liabilities 1,507,133 — — — 1,507,133 — — — Other current and non-current liabilities 1,507,133 120,131 — 863,463 2,490,727 — — — Financial liabilities 11,397,413 120,131 — 5,552,222 17,069,766 — — — (1) Highly liquid short-term investments are categorized in level 2 of the fair value hierarchy. Other cash and cash equivalents is not categorized . Carrying amount and fair value of financial instruments in € THOUS December 31, 2018 Carrying amount Fair value Amortized cost FVPL FVOCI Not classified Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) 831,885 1,313,747 — — 2,145,632 — 1,313,747 — Trade accounts and other receivables 3,288,258 — — 49,448 3,337,706 — — — Accounts receivable from related parties 92,662 — — — 92,662 — — — Derivatives - cash flow hedging instruments — — — 1,492 1,492 — 1,492 — Derivatives - not designated as hedging instruments — 18,222 — — 18,222 — 18,222 — Equity investments — 106,350 34,377 — 140,727 13,869 126,858 — Debt securities — 83,213 250,822 — 334,035 329,821 4,214 — Other financial assets 144,838 — — 107,125 251,963 — — — Other current and non-current assets 144,838 207,785 285,199 108,617 746,439 — — — Financial assets 4,357,643 1,521,532 285,199 158,065 6,322,439 — — — Accounts payable 641,271 — — — 641,271 — — — Accounts payable to related parties 153,781 — — — 153,781 — — — Short-term debt and short-term debt from related parties 1,394,194 — — — 1,394,194 — — — Long-term debt and capital lease obligations 6,115,890 — — 36,144 6,152,034 4,227,684 2,022,057 — Derivatives - cash flow hedging instruments — — — 1,125 1,125 — 1,125 — Derivatives - not designated as hedging instruments — 18,911 — — 18,911 — 18,911 — Variable payments outstanding for acquisitions — 172,278 — — 172,278 — — 172,278 Noncontrolling interest subject to put provisions — — — 818,871 818,871 — — 818,871 Other financial liabilities 1,467,767 — — — 1,467,767 — — — Other current and non-current liabilities 1,467,767 191,189 — 819,996 2,478,952 — — — Financial liabilities 9,772,903 191,189 — 856,140 10,820,232 — — — (1) Highly liquid short-term investments are categorized in level 2 of the fair value hierarchy. Other cash and cash equivalents is not categorized.
Schedule of variable payments outstanding for acquisitions and noncontrolling interests subject to put provisions	Reconciliation from beginning to ending balance of level 3 financial instruments in € THOUS 2019 2018 Variable Variable payments Noncontrolling payments Noncontrolling outstanding for interests subject outstanding for interests subject acquisitions to put provisions acquisitions to put provisions Beginning balance at January 1, 172,278 818,871 205,792 830,773 Increase 7,748 45,257 19,051 53,731 Decrease (34,573) (18,421) (15,734) (50,706) (Gain) loss recognized in profit or loss (34,980) 109,249 (36,327) 142,279 (Gain) loss recognized in equity — (23,365) — (50,612) Dividends — (106,043) — (139,742) Foreign currency translation and other changes (1,507) 33,319 (504) 33,148 Ending balance at September 30, and December 31, 108,966 858,867 172,278 818,871

Segment and corporate informa_2

Segment and corporate information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment and corporate information
Schedule of segment and corporate activity	Segment and corporate information in € THOUS North Asia- Latin America EMEA Pacific America Segment Segment Segment Segment Segment Total Corporate Total Three months ended September 30, 2019 Revenue from contracts with customers 3,002,068 676,340 457,715 181,280 4,317,403 5,772 4,323,175 Other revenue external customers 71,271 6,943 16,836 778 95,828 — 95,828 Revenue external customers 3,073,339 683,283 474,551 182,058 4,413,231 5,772 4,419,003 Inter-segment revenue 719 21 35 94 869 (869) — Revenue 3,074,058 683,304 474,586 182,152 4,414,100 4,903 4,419,003 Operating income 477,432 99,878 90,382 10,576 678,268 (82,880) 595,388 Interest (104,724) Income before income taxes 490,664 Depreciation and amortization (269,219) (45,518) (24,709) (9,030) (348,476) (60,809) (409,285) Income (loss) from equity method investees 20,124 (831) 1,039 212 20,544 — 20,544 Additions of property, plant and equipment, intangible assets and right of use assets 286,472 46,154 37,789 12,112 382,527 89,864 472,391 Three months ended September 30, 2018 Revenue from contracts with customers 2,780,991 611,862 407,369 169,918 3,970,140 3,330 3,973,470 Other revenue external customers 61,764 7,661 14,089 868 84,382 — 84,382 Revenue external customers 2,842,755 619,523 421,458 170,786 4,054,522 3,330 4,057,852 Inter-segment revenue 139 — 150 103 392 (392) — Revenue 2,842,894 619,523 421,608 170,889 4,054,914 2,938 4,057,852 Operating income 525,191 87,283 66,284 (1,504) 677,254 (150,532) 526,722 Interest (75,910) Income before income taxes 450,812 Depreciation and amortization (94,084) (28,962) (11,525) (3,177) (137,748) (41,033) (178,781) Income (loss) from equity method investees 20,236 (2,249) 680 323 18,990 (1,000) 17,990 Additions of property, plant and equipment and intangible assets 145,109 36,451 13,791 45,314 240,665 100,200 340,865 Nine months ended September 30, 2019 Revenue from contracts with customers 8,828,904 1,951,464 1,308,409 513,392 12,602,169 15,332 12,617,501 Other revenue external customers 192,305 32,612 51,714 2,460 279,091 — 279,091 Revenue external customers 9,021,209 1,984,076 1,360,123 515,852 12,881,260 15,332 12,896,592 Inter-segment revenue 1,694 21 491 176 2,382 (2,382) — Revenue 9,022,903 1,984,097 1,360,614 516,028 12,883,642 12,950 12,896,592 Operating income 1,278,706 334,043 254,441 27,858 1,895,048 (241,853) 1,653,195 Interest (326,927) Income before income taxes 1,326,268 Depreciation and amortization (747,405) (139,863) (70,139) (25,061) (982,468) (176,194) (1,158,662) Income (loss) from equity method investees 65,953 (5,352) 1,601 856 63,058 — 63,058 Total assets 22,353,520 4,056,993 2,746,848 899,511 30,056,872 3,112,531 33,169,403 thereof investments in equity method investees 385,604 173,610 98,863 24,540 682,617 — 682,617 Additions of property, plant and equipment, intangible assets and right of use assets 777,523 131,298 83,707 40,918 1,033,446 243,429 1,276,875 Nine months ended September 30, 2018 Revenue from contracts with customers 8,420,185 1,887,078 1,193,561 502,172 12,002,996 11,081 12,014,077 Other revenue external customers 168,332 20,565 41,578 2,634 233,109 — 233,109 Revenue external customers 8,588,517 1,907,643 1,235,139 504,806 12,236,105 11,081 12,247,186 Inter-segment revenue 1,369 303 468 154 2,294 (2,294) — Revenue 8,589,886 1,907,946 1,235,607 504,960 12,238,399 8,787 12,247,186 Operating income 2,173,372 301,140 218,355 23,779 2,716,646 (291,949) 2,424,697 Interest (243,551) Income before income taxes 2,181,146 Depreciation and amortization (279,731) (86,240) (33,671) (13,606) (413,248) (120,769) (534,017) Income (loss) from equity method investees 57,897 (6,964) 1,774 710 53,417 (1,000) 52,417 Total assets 16,519,127 3,687,215 2,240,919 693,210 23,140,471 2,446,615 25,587,086 thereof investments in equity method investees 331,961 175,220 98,380 24,518 630,079 — 630,079 Additions of property, plant and equipment and intangible assets 459,768 102,427 37,207 56,742 656,144 198,701 854,845

Supplementary cash flow infor_2

Supplementary cash flow information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplementary cash flow information
Schedule of additional information provided with respect to net cash provided by (used in) investing activities	Details for net cash provided by (used in) investing activities in € THOUS For the nine months ended September 30, 2019 2018 Details for acquisitions Assets acquired (2,338,777) (241,677) Liabilities assumed 237,921 12,222 Noncontrolling interests subject to put provisions 20,715 11,805 Noncontrolling interests 61,995 42,722 Non-cash consideration 19,106 9,629 Cash paid (1,999,040) (165,299) Less cash acquired 48,945 3,015 Net cash paid for acquisitions (1,950,095) (162,284) Cash paid for investments (24,190) (574,475) Cash paid for intangible assets (49,853) (71,494) Total cash paid for acquisitions and investments, net of cash acquired, and purchases of intangible assets (2,024,138) (808,253) Details for divestitures Cash received from sale of subsidiaries or other businesses, less cash disposed 43,488 1,518,351 Cash received from divestitures of securities 12,337 148,864 Cash received from repayment of loans — 79 Proceeds from divestitures 55,825 1,667,294

The Company and basis of pres_3

The Company and basis of presentation (Details) € in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018EUR (€)	Sep. 30, 2019EUR (€)	Sep. 30, 2018EUR (€)	Dec. 31, 2018EUR (€)
The Company and basis of presentation
Leased fixed assets, included in Property, plant and equipment				€ 36,402
Current lease liabilities from capital leases				9,387
Non-current lease liabilities from capital leases				€ 26,757
Payments of capital lease liabilities			€ 7,770
Tax payment related to divestiture			143,946
IFRIC reclassification IAS 12	€ 1,459		€ 4,827
ARGENTINA
The Company and basis of presentation
Gains (losses) on net monetary position		€ (17,394)
Level of price index		253.7
Percentage of price index increase		38.00%

The Company and basis of pres_4

The Company and basis of presentation - IFRS 16 (Details) - EUR (€) € in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	€ 4,343,308	€ 4,343,308
Retained earnings.	9,211,339	9,211,339	€ 8,831,930
Non-controlling interests	1,266,508	1,266,508	1,143,547
Lease liabilities
Future minimum rental payments			5,527,638
Lease liabilities from capital leases			€ 36,144
Lease liability weighted average discount rate			3.69%
Leasing in the consolidated statements of income
Depreciation on right-of-use assets	176,204	519,093
Impairments on right-of-use assets	18,982	18,982
Expenses relating to short-term leases	17,045	39,538
Expenses relating to leases of low-value assets	9,055	20,862
Expenses relating to variable lease payments	6,983	26,138
Interest expense on lease liabilities	42,729	127,779
Leasing in the consolidated balance sheets
Right-of-use assets	4,343,308	4,343,308
Additions to right of use assets		414,377
Land
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	27,036	27,036
Leasing in the consolidated balance sheets
Right-of-use assets	27,036	27,036
Buildings and improvements
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	3,957,825	3,957,825
Leasing in the consolidated balance sheets
Right-of-use assets	3,957,825	3,957,825
Machinery and equipment
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	358,447	358,447
Leasing in the consolidated balance sheets
Right-of-use assets	€ 358,447	€ 358,447
Increase (decrease) due to application of IFRS 16
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets			€ 4,269,755
Lease liabilities			4,550,625
Retained earnings.			(120,364)
Non-controlling interests			(15,526)
Lease liabilities
Less short-term leases			(21,936)
Less leases of low-value assets			(34,145)
Other			(26,975)
Gross lease liabilities			5,444,582
Discounting			(893,957)
Lease liabilities			4,550,625
Leasing in the consolidated balance sheets
Right-of-use assets			4,269,755
After application of IFRS 16
Disclosure of initial application of standards or interpretations [line items]
Lease liabilities			4,586,769
Lease liabilities
Lease liabilities			€ 4,586,769

Notes to the consolidated sta_3

Notes to the consolidated statements of income - Revenue (Details) - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue [Line Items]
Dialysis services	€ 3,155,050	€ 2,904,363	€ 9,232,698	€ 8,359,200
Care Coordination	337,266	353,768	1,032,123	1,492,533
Health care services	3,492,316	3,258,131	10,264,821	9,851,733
Dialysis products	906,877	782,374	2,576,018	2,340,066
Non-dialysis products	19,810	17,347	55,753	55,387
Health care products	926,687	799,721	2,631,771	2,395,453
Total	4,419,003	4,057,852	12,896,592	12,247,186
Revenue from contracts with customers
Revenue [Line Items]
Dialysis services	3,155,050	2,904,363	9,232,698	8,359,200
Care Coordination	271,307	295,001	849,788	1,330,471
Health care services	3,426,357	3,199,364	10,082,486	9,689,671
Dialysis products	877,008	756,759	2,479,262	2,269,019
Non-dialysis products	19,810	17,347	55,753	55,387
Health care products	896,818	774,106	2,535,015	2,324,406
Total	4,323,175	3,973,470	12,617,501	12,014,077
Other revenue
Revenue [Line Items]
Care Coordination	65,959	58,767	182,335	162,062
Health care services	65,959	58,767	182,335	162,062
Dialysis products	29,869	25,615	96,756	71,047
Health care products	29,869	25,615	96,756	71,047
Total	€ 95,828	€ 84,382	€ 279,091	€ 233,109

Notes to the consolidated sta_4

Notes to the consolidated statements of income - Selling, general and administrative expenses (Details) - EUR (€) € in Thousands	Mar. 29, 2019	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Selling, general and administrative expenses
FCPA related charge	€ 231,700			€ 77,200	€ 200,000
General and administrative expense
Selling, general and administrative expenses
Gains (losses) on change in fair value of equity instruments		€ 76,132	€ 76,132

Notes to the consolidated sta_5

Notes to the consolidated statements of income - (Gain) loss related to divestitures of Care Coordination activities (Details) - 9 months ended Sep. 30, 2019 € in Thousands, $ in Thousands	USD ($)	EUR (€)
Notes to the consolidated statements of income
Process from the sale of an investment	$ 1,770,516	€ 1,531,109
Expected Pre Tax Loss On Sale of Investment		€ 829,860

Notes to the consolidated sta_6

Notes to the consolidated statements of income - Research and development expenses (Details) - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disclosure of detailed information about intangible assets [line items]
Research and development expense	€ 49,174	€ 25,742	€ 136,591	€ 95,287
Depreciation and amortisation expense	€ 409,285	€ 178,781	1,158,662	534,017
Capitalized development costs
Disclosure of detailed information about intangible assets [line items]
Depreciation and amortisation expense			€ 1,795	€ 249

Notes to the consolidated sta_7

Notes to the consolidated statements of income - Earnings per share (Details) - EUR (€) € / shares in Units, € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerators:
Net income attributable to shareholders of FMC-AG & Co. KGaA	€ 332,584	€ 284,614	€ 857,113	€ 1,557,150
Denominators:
Weighted average number of shares outstanding	301,440,412	306,495,661	303,832,868	306,434,923
Potentially dilutive shares		824,459	83,518	807,212
Basic earnings per share (in dollars per share)	€ 1.10	€ 0.93	€ 2.82	€ 5.08
Diluted earnings per share (in dollars per share)	€ 1.10	€ 0.93	€ 2.82	€ 5.07

Notes to the consolidated sta_8

Notes to the consolidated statements of income - Share buy-back program & Treasury stock (Details) - EUR (€) € / shares in Units, € in Thousands	1 Months Ended										4 Months Ended	5 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Aug. 31, 2019	Jul. 31, 2019	Jun. 30, 2019	May 31, 2019	Apr. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	May 31, 2018	Sep. 30, 2019	May 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Jun. 14, 2019	Dec. 31, 2017
Treasury stock
Maximum number of repurchase share (in shares)																12,000,000
Ancillary transaction costs													€ 660,000
Value of treasury shares held	€ 239,105							€ 50,993			€ 239,105		239,105		€ 50,993
Value of shares repurchased													€ 457,908	€ 37,221
Treasury Stock
Treasury stock
Maximum number of repurchase share (in shares)	9,002,999										9,002,999		9,002,999
Average price per share, at date	€ 59.82							€ 51			€ 59.82		€ 59.82		€ 51		€ 65.63
Average price paid per repurchased share, during period	€ 59.67	€ 57.53	€ 66.77	€ 67.11	€ 72.97	€ 72.83	€ 69.86		€ 86.14	€ 86.69	€ 62.77	€ 71.55			€ 86.37
Average price per retired share, during period				€ 71.55				€ 87.23
Number of treasury shares held	3,996,952							999,951			3,996,952		3,996,952		999,951		1,659,951
Number of shares repurchased	627,466	835,208	1,029,655	504,672	147,558	1,993,974	1,629,240		257,726	173,274	2,997,001	3,770,772	6,767,773	431,000	431,000
Number of shares retired				3,770,772				1,091,000					3,770,772
Value of treasury shares held	€ 239,105							€ 50,993			€ 239,105		€ 239,105		€ 50,993		€ 108,931
Value of shares repurchased	€ 37,444	€ 48,050	€ 68,748	€ 33,870	€ 10,766	€ 145,214	€ 113,816		€ 22,201	€ 15,020	€ 188,112	€ 269,796	457,908	€ 37,221	€ 37,221
Value of shares retired				€ 269,796				€ 95,159					269,796
Repurchase of shares fees, net of taxes													€ 11	€ 8

Acquisition of NxStage Medica_3

Acquisition of NxStage Medical, Inc. - Estimated Fair Values of Assets Acquired and Liabilities Assumed - Preliminary (Details) € / shares in Units, € in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)€ / shares
Estimated Fair Values of Assets Acquired and Liabilities Assumed Details
NxStage purchase per common share | € / shares		€ 30
NxStage total net cash		€ 1,740,563
Cash and cash equivalents		47,203
Trade accounts and other receivables		34,062
Inventories		64,945
Other current assets		18,657
Property, plant and equipment		93,657
Right-of-use assets		21,654
Intangible assets and other assets		825,516
Goodwill		1,163,258
Accounts payable, current provisions and other current liabilities		(72,003)
Deferred taxes		(121,139)
Lease liabilities		(22,065)
Other liabilities		(26,244)
Noncontrolling interests		(4,063)
Total acquisition cost		2,023,438
Cash acquired		(47,203)
Net Cash paid		€ 1,976,235
Weighted average useful lives	13 years	13 years
Proforma NxStage contributed revenue	$ 211,410	€ 188,151
Proforma NxStage contributed operating income	$ 26,447	€ 23,537

Acquisition of NxStage Medica_4

Acquisition of NxStage Medical, Inc. - Pro Forma financial Information (Details) € / shares in Units, € in Thousands	9 Months Ended
	Sep. 30, 2019EUR (€)€ / shares
Proforma financial information details
Pro forma revenue | €	€ 12,941,303
Pro forma net income attributable to shareholders of FMC-AG & Co. KGaA | €	€ 842,609
Basic earnings per share | € / shares	€ 2.77
Diluted earnings per share | € / shares	€ 2.77

Related party transactions - Se

Related party transactions - Service agreements and products - General (Details) - EUR (€) € in Thousands	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
VFMCRP
Disclosure of transactions between related parties [line items]
Ownership in joint venture (as a percent)	45.00%
Fresenius SE
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in reporting entity (as a percent)	31.42%	31.42%
Fresenius SE | Manufacturing of infusion bags
Disclosure of transactions between related parties [line items]
Term of related party agreement		10 years
Purchase of machinery		€ 3,853	€ 3,429
Fresenius SE Companies | Minimum
Disclosure of transactions between related parties [line items]
Term of related party agreement		1 year
Fresenius SE Companies | Maximum
Disclosure of transactions between related parties [line items]
Term of related party agreement		5 years

Related party transactions - _2

Related party transactions - Service agreements and products with related parties (Details) - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Service Agreements
Transactions
Sales of goods and services	€ 5,215	€ 19,053
Purchases of goods and services	96,731	88,390
Balances
Accounts receivable	2,838		€ 3,508
Accounts payable	8,922		12,489
Accrued expenses	5,832		9,376
Products
Transactions
Sales of goods and services	33,377	26,235
Purchases of goods and services	380,582	326,697
Balances
Accounts receivable	12,005		8,750
Accounts payable	186,952		61,633
Fresenius SE
Transactions
Sales of goods and services	3
Fresenius SE | Service Agreements
Transactions
Sales of goods and services	106	389
Purchases of goods and services	19,929	17,338
Balances
Accounts receivable	1,097		378
Accounts payable	3,412		4,019
Fresenius SE affiliates | Service Agreements
Transactions
Sales of goods and services	2,947	2,557
Purchases of goods and services	76,802	71,052
Balances
Accounts receivable	1,089		681
Accounts payable	5,510		8,470
Fresenius SE affiliates | Products
Transactions
Sales of goods and services	33,374	26,235
Purchases of goods and services	26,739	29,548
Balances
Accounts receivable	12,005		8,750
Accounts payable	7,764		3,658
Equity method investees | Service Agreements
Transactions
Sales of goods and services	2,162	16,107
Balances
Accounts receivable	652		2,449
Equity method investees | Products
Transactions
Purchases of goods and services	353,843	€ 297,149
Balances
Accounts payable	€ 179,188		€ 57,975

Related Party Transactions - Le

Related Party Transactions - Lease Agreements - Summary (Details) - EUR (€) € in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Lease Transactions
Depreciation	€ 176,204	€ 519,093
Interest expense	42,729	127,779
Lease Balances [Abstract]
Right-of-use asset	4,343,308	4,343,308
Lease Agreements
Lease Transactions
Depreciation		13,004
Interest expense		1,397
Lease expense		3,207
Lease expense			€ 18,148
Lease Balances [Abstract]
Right-of-use asset	124,303	124,303
Lease liability	124,863	124,863
Fresenius SE | Lease Agreements
Lease Transactions
Depreciation		3,620
Interest expense		342
Lease expense		2,815
Lease expense			6,494
Lease Balances [Abstract]
Right-of-use asset	31,028	31,028
Lease liability	31,233	31,233
Fresenius SE affiliates | Lease Agreements
Lease Transactions
Depreciation		9,384
Interest expense		1,055
Lease expense		392
Lease expense			€ 11,654
Lease Balances [Abstract]
Right-of-use asset	93,275	93,275
Lease liability	€ 93,630	€ 93,630

Related party transactions - Fi

Related party transactions - Financing (Details) - EUR (€) € in Thousands	Nov. 28, 2013	Aug. 19, 2009	Sep. 30, 2019	Dec. 31, 2018
Fresenius SE
Transactions
Proceeds from short-term debt from related parties			€ 354,900	€ 185,900
Interest rate on borrowings (as a percent)			0.93%	0.825%
Fresenius SE | Short-term financing
Balances
Accounts receivable			€ 63,514	€ 80,228
Accounts payable			€ 45,612	32,454
General Partner | Unsecured debt - originated in 2009
Transactions
Proceeds from short-term debt from related parties		€ 1,500
Interest rate on borrowings (as a percent)		1.335%	0.93%
General Partner | Unsecured debt - originated in 2013
Transactions
Proceeds from short-term debt from related parties	€ 1,500
Interest rate on borrowings (as a percent)	1.875%		0.825%
Subsidiary of Fresenius SE | Bonds
Balances
Accounts payable			€ 1,000	€ 6,000
Coupon rate			5.25%	5.25%

Related party transactions - Ke

Related party transactions - Key management personnel (Details) - General Partner - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Transactions
Amount paid for services received from related party	€ 19,532	€ 15,295
Balances
Accounts receivable	197		€ 176
Accounts payable	€ 13,756		€ 47,205

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - EUR (€) € in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash and cash equivalents
Cash	€ 757,340	€ 831,885
Securities and time deposits	207,714	1,313,747
Cash and cash equivalents	965,054	2,145,632	€ 1,754,052	€ 978,109
Restricted cash	€ 9,862	€ 5,002

Trade accounts and other rece_3

Trade accounts and other receivables (Details) - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Trade accounts receivable [Line Items]
Trade accounts and other receivables	€ 3,511,120	€ 3,337,706
Other receivables	€ 98,488	66,496
Collection period for trade accounts receivable	1 year
Trade accounts receivable included in other non-current assets	€ 126,727	120,668
Financial instruments credit-impaired
Trade accounts receivable [Line Items]
Trade accounts and other receivables	277,233	239,465
Gross carrying amount
Trade accounts receivable [Line Items]
Trade accounts and other receivables	3,644,079	3,455,721
Finance lease receivables	52,617	28,726
Gross carrying amount | Financial instruments credit-impaired
Trade accounts receivable [Line Items]
Trade accounts and other receivables	367,864	325,240
Allowances
Trade accounts receivable [Line Items]
Trade accounts and other receivables	(132,959)	(118,015)
Allowances | Financial instruments credit-impaired
Trade accounts receivable [Line Items]
Trade accounts and other receivables	€ (90,630)	€ (85,775)

Inventories (Details)

Inventories (Details) - EUR (€) € in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventories
Finished goods	€ 951,211	€ 774,133
Health care supplies	418,057	391,593
Raw materials and purchased components	247,424	224,054
Work in process	104,398	77,023
Inventories	€ 1,721,090	€ 1,466,803

Short-term debt and short-ter_3

Short-term debt and short-term debt from related parties (Details) € in Thousands, $ in Thousands	Sep. 30, 2019EUR (€)	Jul. 31, 2019EUR (€)	Jul. 30, 2019USD ($)	Dec. 31, 2018EUR (€)
Long-term Debt and Capital Lease Obligations
Short-term debt	€ 1,565,779			€ 1,205,294
Short-term debt from related parties	357,900			188,900
Short-term debt and short-term debt from related parties	1,923,679			1,394,194
Commercial paper borrowing limit	1,000,000
Remaining borrowing capacity	1,000,000			1,000,000
Offset amount	457,487			122,256
Commercial paper program
Long-term Debt and Capital Lease Obligations
Short-term debt	999,878			999,873
Borrowings under lines of credit
Long-term Debt and Capital Lease Obligations
Short-term debt	565,828			204,491
Amended and restated unsecured loan agreement
Long-term Debt and Capital Lease Obligations
Short term borrowing from related party		€ 600,000	$ 400,000
Other
Long-term Debt and Capital Lease Obligations
Short-term debt	€ 73			€ 930

Long-term debt (Details)

Long-term debt (Details) - EUR (€) € in Thousands	Sep. 30, 2019	Dec. 31, 2018
Long-term debt
Long-term debt	€ 7,056,757	€ 6,152,034
Less current portion	(970,917)	(1,106,519)
Long-term debt, less current portion	6,085,840	5,045,515
Amended 2012 Credit Agreement
Long-term debt
Long-term debt	2,446,848	1,887,357
Bonds
Long-term debt
Long-term debt	3,306,538	3,700,446
Convertible Bonds
Long-term debt
Long-term debt	397,918	393,232
Accounts Receivable Facility
Long-term debt
Long-term debt	669,021
Capital lease obligations
Long-term debt
Long-term debt		36,144
Other
Long-term debt
Long-term debt	€ 236,432	€ 134,855

Long-term debt - Bonds (Details

Long-term debt - Bonds (Details) € in Thousands, $ in Thousands	Jul. 20, 2019EUR (€)	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)
FMC US Finance III, Inc.
Long-term debt
Face amount	€ 500,000
Maturity of borrowings (in years)	P10Y
Interest rate on borrowings (as a percent)	3.75%
Bonds issued price percentage (in percent)	98.461%
Fresenius Medical Care Finance VIII S.A
Long-term debt
Face amount			€ 250,000
Fresenius Medical Care Us Finance ii Inc
Long-term debt
Face amount | $		$ 800,000

Long-term debt - Amended 2012 c

Long-term debt - Amended 2012 credit agreement (Details) € in Thousands, $ in Thousands	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)
Amended 2012 Credit Agreement
Long-term debt
Maximum amount available		€ 3,277,653		€ 3,280,065
Balance outstanding		2,451,638		1,894,039
Revolving credit facility USD
Long-term debt
Maximum amount available	$ 900,000	826,522	$ 900,000	786,026
Balance outstanding	300,000	275,507
Revolving credit facility EUR
Long-term debt
Maximum amount available		600,000		600,000
Balance outstanding		325,000
USD term loan 5-year
Long-term debt
Maximum amount available	1,260,000	1,157,131	1,350,000	1,179,039
Balance outstanding	1,260,000	1,157,131	1,350,000	1,179,039
EUR term loan 5-year
Long-term debt
Maximum amount available		294,000		315,000
Balance outstanding		294,000		315,000
EUR term loan 3-year
Long-term debt
Maximum amount available		400,000		400,000
Balance outstanding		400,000		400,000
Accounts Receivable Facility
Long-term debt
Maximum amount available	900,000	826,522	900,000	786,026
Balance outstanding	729,250	669,713
Letters of credit outstanding	$ 23,460	€ 21,545	$ 26,631	€ 23,259

Supplementary information on _3

Supplementary information on capital management (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Supplementary information on capital management
Debt in % of total assets	41.20%	28.80%
Total equity in % of total assets	40.80%	49.20%

Share-based plans (Details)

Share-based plans (Details) - Performance Shares	Jul. 29, 2019EUR (€)€ / shares	Sep. 30, 2019item
Share-based plans
Performance period (in years)		3 years
Number of performance targets | item		3
Minimum
Share-based plans
Annual target achievement level (as a percent)		0.00%
Maximum
Share-based plans
Annual target achievement level (as a percent)		200.00%
Annual target achievement level of 100%
Share-based plans
Annual target achievement level (as a percent)		100.00%
Revenue growth target rate (as a percent)		7.00%
Net income growth target rate (as a percent)		7.00%
ROIC target rate (as a percent)		7.90%
ROIC target rate for each consecutive year (as a percent)		8.10%
Annual target achievement level of 0%
Share-based plans
Annual target achievement level (as a percent)		0.00%
Revenue growth target rate (as a percent)		0.00%
Net income growth target rate (as a percent)		0.00%
Increase (decrease) in ROIC rate		0.2
Annual target achievement level of 200%
Share-based plans
Annual target achievement level (as a percent)		200.00%
Revenue growth target rate (as a percent)		16.00%
Net income growth target rate (as a percent)		14.00%
Increase (decrease) in ROIC rate		0.2
LTIP 2019
Share-based plans
Increase (decrease) in annual target achievement level, if GEP -II target rate is 100%		20
GEP - II target rate (as a percent)		100.00%
Vesting period		3 years
Period considered for calculation of average share price		30 days
Grant Value, Cap (as a percent)		400.00%
Granted (in shares)	793,778
Total fair value of equity instruments	€ 51,827,000
Vesting period (in years)		3 years
Fair value per performance share (per share) | € / shares	€ 65.29
LTIP 2019 | Minimum
Share-based plans
GEP - II target rate to calculate overall target achievement by means of linear interpolation (as a percent)		0.00%
LTIP 2019 | Maximum
Share-based plans
GEP - II target rate to calculate overall target achievement by means of linear interpolation (as a percent)		100.00%
Overall target achievement rate as increased by the GEP -II targets achievement (as a percent)		200.00%
Members of Management Board | LTIP 2019
Share-based plans
Vesting period		4 years
Granted (in shares)	101,600
Total fair value of equity instruments	€ 6,484,000
Vesting period (in years)		4 years
Fair value per performance share (per share) | € / shares	€ 63.82

Employee benefit plans - Define

Employee benefit plans - Defined benefit pension plans (Details) - Pension defined benefit plans € in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2019EUR (€)	Sep. 30, 2019EUR (€)
Defined benefit pension plans
Number of defined benefit plans		5
United States
Defined benefit pension plans
Number of defined benefit plans		1
United States | FMCH
Defined benefit pension plans
Company contribution to plan		€ 847
Estimate of contributions expected to be paid to plan for rest of year	€ 294
France
Defined benefit pension plans
Number of defined benefit plans		3
Germany
Defined benefit pension plans
Number of defined benefit plans		1

Employee benefit plans - Compon

Employee benefit plans - Components of net periodic benefit cost (Details) - Pension defined benefit plans - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined benefit pension plans
Current service cost	€ 7,634	€ 5,427	€ 22,539	€ 19,059
Net interest cost	3,507	3,307	10,424	9,755
Net periodic benefit costs	€ 11,141	€ 8,734	€ 32,963	€ 28,814

Commitments and contingencies (

Commitments and contingencies (Details) € in Thousands	Jul. 26, 2019	Mar. 29, 2019EUR (€)	Dec. 14, 2017EUR (€)	May 31, 2017	Sep. 30, 2019EUR (€)	Dec. 31, 2018EUR (€)	Dec. 31, 2017EUR (€)	Oct. 11, 2019EUR (€)	Jul. 31, 2015EUR (€)
Commitments and contingencies
FCPA related charge		€ 231,700				€ 77,200	€ 200,000
Increase in anticipated legal expenses and impairments						€ 223,980
Independent compliance monitor for a period (in years)		2 years
Monitorship period commenced	2 years
Net litigation settlement expense recorded					€ 60,000
Subpoena from the United States Attorney for the Northern District of Texas
Commitments and contingencies
Litigation settlement by Davita Rx			€ 63,700
United States Attorney for the Middle District of Tennessee
Commitments and contingencies
Litigation settlement by Davita Rx			€ 63,700
Number of subsidiaries to which subpoenas were issued				2
Hawaii Medicaid False Claims
Commitments and contingencies
Litigation settlement amount									€ 8,000
FMCH
Commitments and contingencies
Amount payable for dismissal and release of all claims								€ 5,200
Litigation settlement amount					220,000
Litigation settlement insurance recovery					€ 220,000
Number of plaintiffs					4
Number of plaintiffs intend to continue litigation					0
Number of U.S. FDA Pending Warning Letters					1

Financial instruments - Carryin

Financial instruments - Carrying amount and fair value (Details) - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Financial instruments
Carrying amount of financial assets	€ 5,420,253	€ 6,322,439
Carrying amount of financial liabilities	17,069,766	10,820,232
Transfers of fair value into from level 2 to level 3	186,427
Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	11,397,413	9,772,903
FVPL - Liabilities
Financial instruments
Carrying amount of financial liabilities	120,131	191,189
Not classified
Financial instruments
Carrying amount of financial liabilities	5,552,222	856,140
Accounts payable
Financial instruments
Carrying amount of financial liabilities	654,602	641,271
Accounts payable | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	654,602	641,271
Accounts payable to related parties
Financial instruments
Carrying amount of financial liabilities	255,242	153,781
Accounts payable to related parties | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	255,242	153,781
Short-term debt and short-term debt from related parties
Financial instruments
Carrying amount of financial liabilities	1,923,679	1,394,194
Short-term debt and short-term debt from related parties | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	1,923,679	1,394,194
Long-term debt
Financial instruments
Carrying amount of financial liabilities	7,056,757
Long-term debt | Level 1
Financial instruments
Fair value of financial liabilities	3,898,684
Long-term debt | Level 2
Financial instruments
Fair value of financial liabilities	3,357,713
Long-term debt | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	7,056,757
Long-term lease liabilities and long-term lease liabilities from related parties
Financial instruments
Carrying amount of financial liabilities	4,688,759
Long-term lease liabilities and long-term lease liabilities from related parties | Not classified
Financial instruments
Carrying amount of financial liabilities	4,688,759
Long-term debt and capital lease obligations
Financial instruments
Carrying amount of financial liabilities		6,152,034
Long-term debt and capital lease obligations | Level 1
Financial instruments
Fair value of financial liabilities		4,227,684
Long-term debt and capital lease obligations | Level 2
Financial instruments
Fair value of financial liabilities		2,022,057
Long-term debt and capital lease obligations | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities		6,115,890
Long-term debt and capital lease obligations | Not classified
Financial instruments
Carrying amount of financial liabilities		36,144
Other current and non-current liabilities
Financial instruments
Carrying amount of financial liabilities	2,490,727	2,478,952
Other current and non-current liabilities | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	1,507,133	1,467,767
Other current and non-current liabilities | FVPL - Liabilities
Financial instruments
Carrying amount of financial liabilities	120,131	191,189
Other current and non-current liabilities | Not classified
Financial instruments
Carrying amount of financial liabilities	863,463	819,996
Derivatives - cash flow hedging instruments
Financial instruments
Carrying amount of financial liabilities	4,596	1,125
Derivatives - cash flow hedging instruments | Level 2
Financial instruments
Fair value of financial liabilities	4,596	1,125
Derivatives - cash flow hedging instruments | Not classified
Financial instruments
Carrying amount of financial liabilities	4,596	1,125
Derivatives - not designated as hedging instruments
Financial instruments
Carrying amount of financial liabilities	11,165	18,911
Derivatives - not designated as hedging instruments | Level 2
Financial instruments
Fair value of financial liabilities	11,165	18,911
Derivatives - not designated as hedging instruments | FVPL - Liabilities
Financial instruments
Carrying amount of financial liabilities	11,165	18,911
Variable payments outstanding for acquisition
Financial instruments
Carrying amount of financial liabilities	108,966	172,278
Variable payments outstanding for acquisition | Level 3
Financial instruments
Fair value of financial liabilities	108,966	172,278
Variable payments outstanding for acquisition | FVPL - Liabilities
Financial instruments
Carrying amount of financial liabilities	108,966	172,278
Noncontrolling interests subject to put provisions
Financial instruments
Carrying amount of financial liabilities	858,867	818,871
Noncontrolling interests subject to put provisions | Level 3
Financial instruments
Fair value of financial liabilities	858,867	818,871
Noncontrolling interests subject to put provisions | Not classified
Financial instruments
Carrying amount of financial liabilities	858,867	818,871
Other financial liabilities
Financial instruments
Carrying amount of financial liabilities	1,507,133	1,467,767
Other financial liabilities | Amortized cost - Liabilities
Financial instruments
Carrying amount of financial liabilities	1,507,133	1,467,767
Amortized cost - Assets
Financial instruments
Carrying amount of financial assets	4,402,962	4,357,643
FVPL - Assets
Financial instruments
Carrying amount of financial assets	519,524	1,521,532
FVOCI - Assets
Financial instruments
Carrying amount of financial assets	314,689	285,199
Not classified
Financial instruments
Carrying amount of financial assets	183,078	158,065
Cash and cash equivalents
Financial instruments
Carrying amount of financial assets	965,054	2,145,632
Cash and cash equivalents | Level 2
Financial instruments
Fair value of financial assets	207,714	1,313,747
Cash and cash equivalents | Amortized cost - Assets
Financial instruments
Carrying amount of financial assets	757,340	831,885
Cash and cash equivalents | FVPL - Assets
Financial instruments
Carrying amount of financial assets	207,714	1,313,747
Trade accounts and other receivables
Financial instruments
Carrying amount of financial assets	3,511,120	3,337,706
Trade accounts and other receivables | Amortized cost - Assets
Financial instruments
Carrying amount of financial assets	3,438,724	3,288,258
Trade accounts and other receivables | Not classified
Financial instruments
Carrying amount of financial assets	72,396	49,448
Accounts receivable from related parties
Financial instruments
Carrying amount of financial assets	78,554	92,662
Accounts receivable from related parties | Amortized cost - Assets
Financial instruments
Carrying amount of financial assets	78,554	92,662
Other current and non-current assets
Financial instruments
Carrying amount of financial assets	865,525	746,439
Other current and non-current assets | Amortized cost - Assets
Financial instruments
Carrying amount of financial assets	128,344	144,838
Other current and non-current assets | FVPL - Assets
Financial instruments
Carrying amount of financial assets	311,810	207,785
Other current and non-current assets | FVOCI - Assets
Financial instruments
Carrying amount of financial assets	314,689	285,199
Other current and non-current assets | Not classified
Financial instruments
Carrying amount of financial assets	110,682	108,617
Derivatives - cash flow hedging instruments
Financial instruments
Carrying amount of financial assets	847	1,492
Derivatives - cash flow hedging instruments | Level 2
Financial instruments
Fair value of financial assets	847	1,492
Derivatives - cash flow hedging instruments | Not classified
Financial instruments
Carrying amount of financial assets	847	1,492
Derivatives - not designated as hedging instruments
Financial instruments
Carrying amount of financial assets	10,773	18,222
Derivatives - not designated as hedging instruments | Level 2
Financial instruments
Fair value of financial assets	10,773	18,222
Derivatives - not designated as hedging instruments | FVPL - Assets
Financial instruments
Carrying amount of financial assets	10,773	18,222
Equity investments
Financial instruments
Carrying amount of financial assets	233,593	140,727
Equity investments | Level 1
Financial instruments
Fair value of financial assets	12,945	13,869
Equity investments | Level 2
Financial instruments
Fair value of financial assets	31,794	126,858
Equity investments | Level 3
Financial instruments
Fair value of financial assets	188,854
Equity investments | FVPL - Assets
Financial instruments
Carrying amount of financial assets	196,319	106,350
Equity investments | FVOCI - Assets
Financial instruments
Carrying amount of financial assets	37,274	34,377
Debt securities
Financial instruments
Carrying amount of financial assets	382,133	334,035
Debt securities | Level 1
Financial instruments
Fair value of financial assets	377,615	329,821
Debt securities | Level 2
Financial instruments
Fair value of financial assets	4,518	4,214
Debt securities | FVPL - Assets
Financial instruments
Carrying amount of financial assets	104,718	83,213
Debt securities | FVOCI - Assets
Financial instruments
Carrying amount of financial assets	277,415	250,822
Other financial assets
Financial instruments
Carrying amount of financial assets	238,179	251,963
Other financial assets | Amortized cost - Assets
Financial instruments
Carrying amount of financial assets	128,344	144,838
Other financial assets | Not classified
Financial instruments
Carrying amount of financial assets	€ 109,835	€ 107,125

Financial instruments - Noncont

Financial instruments - Noncontrolling interests subject to put provisions (Details) - EUR (€) € in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Reconciliation of changes in fair value measurement, liabilities [abstract]
Liabilities at beginning of period	€ 13,340,310
Liabilities at end of period	19,625,983	€ 13,340,310
Variable payments outstanding for acquisition | Fair Value | Level 3
Reconciliation of changes in fair value measurement, liabilities [abstract]
Liabilities at beginning of period	172,278	205,792
Increase	7,748	19,051
Decrease	(34,573)	(15,734)
(Gain) loss recognized in profit or loss	(34,980)	(36,327)
Foreign currency translation and other changes	(1,507)	(504)
Liabilities at end of period	108,966	172,278
Noncontrolling interests subject to put provisions | Fair Value | Level 3
Reconciliation of changes in fair value measurement, liabilities [abstract]
Liabilities at beginning of period	818,871	830,773
Increase	45,257	53,731
Decrease	(18,421)	(50,706)
(Gain) loss recognized in profit or loss	109,249	142,279
(Gain) loss recognized in equity	(23,365)	(50,612)
Dividends	(106,043)	(139,742)
Foreign currency translation and other changes	33,319	33,148
Liabilities at end of period	€ 858,867	€ 818,871

Segment and corporate informa_3

Segment and corporate information (Details) - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment and Corporate activities
Revenue from contracts with customers	€ 4,323,175	€ 3,973,470	€ 12,617,501	€ 12,014,077
Other revenue external customers	95,828	84,382	279,091	233,109
Revenue external customers	4,419,003	4,057,852	12,896,592	12,247,186
Revenue	4,419,003	4,057,852	12,896,592	12,247,186
Operating income	595,388	526,722	1,653,195	2,424,697
Interest	(104,724)	(75,910)	(326,927)	(243,551)
Income before income taxes	490,664	450,812	1,326,268	2,181,146
Depreciation and amortization	(409,285)	(178,781)	(1,158,662)	(534,017)
Income (loss) from equity method investees	20,544	17,990	63,058	52,417
Total assets	33,169,403	25,587,086	33,169,403	25,587,086	€ 26,242,268
thereof investments in equity method investees	682,617	630,079	682,617	630,079	€ 649,780
Additions of property, plant and equipment and intangible assets	472,391	340,865	1,276,875	854,845
Operating Segments
Segment and Corporate activities
Revenue from contracts with customers	4,317,403	3,970,140	12,602,169	12,002,996
Other revenue external customers	95,828	84,382	279,091	233,109
Revenue external customers	4,413,231	4,054,522	12,881,260	12,236,105
Inter-segment revenue	869	392	2,382	2,294
Revenue	4,414,100	4,054,914	12,883,642	12,238,399
Operating income	678,268	677,254	1,895,048	2,716,646
Depreciation and amortization	(348,476)	(137,748)	(982,468)	(413,248)
Income (loss) from equity method investees	20,544	18,990	63,058	53,417
Total assets	30,056,872	23,140,471	30,056,872	23,140,471
thereof investments in equity method investees	682,617	630,079	682,617	630,079
Additions of property, plant and equipment and intangible assets	382,527	240,665	1,033,446	656,144
Operating Segments | North America Segment
Segment and Corporate activities
Revenue from contracts with customers	3,002,068	2,780,991	8,828,904	8,420,185
Other revenue external customers	71,271	61,764	192,305	168,332
Revenue external customers	3,073,339	2,842,755	9,021,209	8,588,517
Inter-segment revenue	719	139	1,694	1,369
Revenue	3,074,058	2,842,894	9,022,903	8,589,886
Operating income	477,432	525,191	1,278,706	2,173,372
Depreciation and amortization	(269,219)	(94,084)	(747,405)	(279,731)
Income (loss) from equity method investees	20,124	20,236	65,953	57,897
Total assets	22,353,520	16,519,127	22,353,520	16,519,127
thereof investments in equity method investees	385,604	331,961	385,604	331,961
Additions of property, plant and equipment and intangible assets	286,472	145,109	777,523	459,768
Operating Segments | EMEA Segment
Segment and Corporate activities
Revenue from contracts with customers	676,340	611,862	1,951,464	1,887,078
Other revenue external customers	6,943	7,661	32,612	20,565
Revenue external customers	683,283	619,523	1,984,076	1,907,643
Inter-segment revenue	21		21	303
Revenue	683,304	619,523	1,984,097	1,907,946
Operating income	99,878	87,283	334,043	301,140
Depreciation and amortization	(45,518)	(28,962)	(139,863)	(86,240)
Income (loss) from equity method investees	(831)	(2,249)	(5,352)	(6,964)
Total assets	4,056,993	3,687,215	4,056,993	3,687,215
thereof investments in equity method investees	173,610	175,220	173,610	175,220
Additions of property, plant and equipment and intangible assets	46,154	36,451	131,298	102,427
Operating Segments | Asia-Pacific Segment
Segment and Corporate activities
Revenue from contracts with customers	457,715	407,369	1,308,409	1,193,561
Other revenue external customers	16,836	14,089	51,714	41,578
Revenue external customers	474,551	421,458	1,360,123	1,235,139
Inter-segment revenue	35	150	491	468
Revenue	474,586	421,608	1,360,614	1,235,607
Operating income	90,382	66,284	254,441	218,355
Depreciation and amortization	(24,709)	(11,525)	(70,139)	(33,671)
Income (loss) from equity method investees	1,039	680	1,601	1,774
Total assets	2,746,848	2,240,919	2,746,848	2,240,919
thereof investments in equity method investees	98,863	98,380	98,863	98,380
Additions of property, plant and equipment and intangible assets	37,789	13,791	83,707	37,207
Operating Segments | Latin America Segment
Segment and Corporate activities
Revenue from contracts with customers	181,280	169,918	513,392	502,172
Other revenue external customers	778	868	2,460	2,634
Revenue external customers	182,058	170,786	515,852	504,806
Inter-segment revenue	94	103	176	154
Revenue	182,152	170,889	516,028	504,960
Operating income	10,576	(1,504)	27,858	23,779
Depreciation and amortization	(9,030)	(3,177)	(25,061)	(13,606)
Income (loss) from equity method investees	212	323	856	710
Total assets	899,511	693,210	899,511	693,210
thereof investments in equity method investees	24,540	24,518	24,540	24,518
Additions of property, plant and equipment and intangible assets	12,112	45,314	40,918	56,742
Corporate
Segment and Corporate activities
Revenue from contracts with customers	5,772	3,330	15,332	11,081
Revenue external customers	5,772	3,330	15,332	11,081
Inter-segment revenue	(869)	(392)	(2,382)	(2,294)
Revenue	4,903	2,938	12,950	8,787
Operating income	(82,880)	(150,532)	(241,853)	(291,949)
Depreciation and amortization	(60,809)	(41,033)	(176,194)	(120,769)
Income (loss) from equity method investees		(1,000)		(1,000)
Total assets	3,112,531	2,446,615	3,112,531	2,446,615
Additions of property, plant and equipment and intangible assets	€ 89,864	€ 100,200	€ 243,429	€ 198,701

Supplementary cash flow infor_3

Supplementary cash flow information (Details) - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Details for acquisitions
Assets acquired	€ (2,338,777)	€ (241,677)
Liabilities assumed	237,921	12,222
Noncontrolling interest subject to put provisions	20,715	11,805
Noncontrolling interests	61,995	42,722
Non-cash consideration	19,106	9,629
Cash paid	(1,999,040)	(165,299)
Less cash acquired	48,945	3,015
Net cash paid for acquisitions	(1,950,095)	(162,284)
Cash paid for investments	(24,190)	(574,475)
Cash paid for intangible assets	(49,853)	(71,494)
Total cash paid for acquisitions and investments, net of cash acquired and purchases of intangible assets	(2,024,138)	(808,253)
Details for divestitures
Cash received from sale of subsidiaries or other businesses, less cash disposed	43,488	1,518,351
Cash received from divestitures of available for sale financial assets	12,337	148,864
Cash received from repayment of loans		79
Proceeds from divestitures	55,825	€ 1,667,294
Acquisition effect net income shareholders	€ 57,452