Supplemental data (Tables) | 6 Months Ended |
Jun. 30, 2014 |
Condensed Consolidating Statements of Income | ' |
Condensed Consolidating Statements of Income |
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For the three months ended June 30, 2014 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Patient service revenues | | $ | — | | | $ | 1,517,268 | | | $ | 668,312 | | | $ | 1,669 | | | $ | 2,187,249 | |
Less: Provision for uncollectible accounts | | | — | | | | (57,281 | ) | | | (30,771 | ) | | | — | | | | (88,052 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net patient service revenues | | | — | | | | 1,459,987 | | | | 637,541 | | | | 1,669 | | | | 2,099,197 | |
Capitated revenues | | | — | | | | 414,366 | | | | 385,030 | | | | (27 | ) | | | 799,369 | |
Other revenues | | | 181,199 | | | | 424,755 | | | | 35,712 | | | | (367,743 | ) | | | 273,923 | |
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Total net revenues | | | 181,199 | | | | 2,299,108 | | | | 1,058,283 | | | | (366,101 | ) | | | 3,172,489 | |
Operating expenses | | | 122,815 | | | | 2,033,828 | | | | 897,652 | | | | (366,101 | ) | | | 2,688,194 | |
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Operating income | | | 58,384 | | | | 265,280 | | | | 160,631 | | | | — | | | | 484,295 | |
Debt expense, including debt refinancing charges | | | (202,258 | ) | | | (94,169 | ) | | | (10,180 | ) | | | 102,927 | | | | (203,680 | ) |
Other income (expense) | | | 99,532 | | | | 4,166 | | | | 922 | | | | (102,927 | ) | | | 1,693 | |
Income tax (benefit) expense | | | (17,958 | ) | | | 111,415 | | | | 7,430 | | | | — | | | | 100,887 | |
Equity earnings in subsidiaries | | | 174,067 | | | | 110,205 | | | | — | | | | (284,272 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net income | | | 147,683 | | | | 174,067 | | | | 143,943 | | | | (284,272 | ) | | | 181,421 | |
Less: Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | (33,738 | ) | | | (33,738 | ) |
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Net income attributable to DaVita HealthCare Partners Inc. | | $ | 147,683 | | | $ | 174,067 | | | $ | 143,943 | | | $ | (318,010 | ) | | $ | 147,683 | |
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For the three months ended June 30, 2013 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Patient service revenues | | $ | — | | | $ | 1,476,135 | | | $ | 581,208 | | | $ | (8,692 | ) | | $ | 2,048,651 | |
Less: Provision for uncollectible accounts | | | — | | | | (37,218 | ) | | | (34,973 | ) | | | — | | | | (72,191 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net patient service revenues | | | — | | | | 1,438,917 | | | | 546,235 | | | | (8,692 | ) | | | 1,976,460 | |
Capitated revenues | | | — | | | | 337,312 | | | | 374,451 | | | | (1,689 | ) | | | 710,074 | |
Other revenues | | | 166,650 | | | | 374,577 | | | | 21,183 | | | | (377,271 | ) | | | 185,139 | |
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Total net revenues | | | 166,650 | | | | 2,150,806 | | | | 941,869 | | | | (387,652 | ) | | | 2,871,673 | |
Operating expenses | | | 71,881 | | | | 1,827,141 | | | | 838,283 | | | | (387,652 | ) | | | 2,349,653 | |
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Operating income | | | 94,769 | | | | 323,665 | | | | 103,586 | | | | — | | | | 522,020 | |
Debt expense | | | (107,337 | ) | | | (95,600 | ) | | | (11,247 | ) | | | 106,088 | | | | (108,096 | ) |
Other income (expense) | | | 100,947 | | | | 3,714 | | | | 53 | | | | (106,088 | ) | | | (1,374 | ) |
Income tax expense | | | 29,458 | | | | 97,729 | | | | 2,005 | | | | — | | | | 129,192 | |
Equity earnings in subsidiaries | | | 195,455 | | | | 61,405 | | | | — | | | | (256,860 | ) | | | — | |
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Net income | | | 254,376 | | | | 195,455 | | | | 90,387 | | | | (256,860 | ) | | | 283,358 | |
Less: Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | (28,982 | ) | | | (28,982 | ) |
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Net income attributable to DaVita HealthCare Partners Inc. | | $ | 254,376 | | | $ | 195,455 | | | $ | 90,387 | | | $ | (285,842 | ) | | $ | 254,376 | |
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For the six months ended June 30, 2014 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Patient service revenues | | $ | — | | | $ | 3,030,545 | | | $ | 1,267,669 | | | $ | 3,133 | | | $ | 4,301,347 | |
Less: Provision for uncollectible accounts | | | — | | | | (107,160 | ) | | | (64,089 | ) | | | — | | | | (171,249 | ) |
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Net patient service revenues | | | — | | | | 2,923,385 | | | | 1,203,580 | | | | 3,133 | | | | 4,130,098 | |
Capitated revenues | | | — | | | | 818,913 | | | | 768,428 | | | | (407 | ) | | | 1,586,934 | |
Other revenues | | | 344,242 | | | | 818,310 | | | | 68,003 | | | | (732,322 | ) | | | 498,233 | |
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Total net revenues | | | 344,242 | | | | 4,560,608 | | | | 2,040,011 | | | | (729,596 | ) | | | 6,215,265 | |
Operating expenses | | | 235,112 | | | | 4,014,282 | | | | 1,769,947 | | | | (729,596 | ) | | | 5,289,745 | |
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Operating income | | | 109,130 | | | | 546,326 | | | | 270,064 | | | | — | | | | 925,520 | |
Debt expense, including debt refinancing charges | | | (307,541 | ) | | | (188,806 | ) | | | (19,932 | ) | | | 206,264 | | | | (310,015 | ) |
Other income (expense) | | | 199,475 | | | | 8,935 | | | | 1,245 | | | | (206,264 | ) | | | 3,391 | |
Income tax expense | | | 431 | | | | 215,546 | | | | 9,761 | | | | — | | | | 225,738 | |
Equity earnings in subsidiaries | | | 330,339 | | | | 179,430 | | | | — | | | | (509,769 | ) | | | — | |
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Net income | | | 330,972 | | | | 330,339 | | | | 241,616 | | | | (509,769 | ) | | | 393,158 | |
Less: Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | (62,186 | ) | | | (62,186 | ) |
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Net income attributable to DaVita HealthCare Partners Inc. | | $ | 330,972 | | | $ | 330,339 | | | $ | 241,616 | | | $ | (571,955 | ) | | $ | 330,972 | |
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For the six months ended June 30, 2013 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Patient service revenues | | $ | — | | | $ | 2,928,355 | | | $ | 1,117,866 | | | $ | (17,697 | ) | | $ | 4,028,524 | |
Less: Provision for uncollectible accounts | | | — | | | | (101,075 | ) | | | (41,173 | ) | | | — | | | | (142,248 | ) |
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Net patient service revenues | | | — | | | | 2,827,280 | | | | 1,076,693 | | | | (17,697 | ) | | | 3,886,276 | |
Capitated revenues | | | — | | | | 697,336 | | | | 778,126 | | | | (2,773 | ) | | | 1,472,689 | |
Other revenues | | | 302,025 | | | | 733,034 | | | | 38,840 | | | | (731,609 | ) | | | 342,290 | |
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Total net revenues | | | 302,025 | | | | 4,257,650 | | | | 1,893,659 | | | | (752,079 | ) | | | 5,701,255 | |
Operating expenses | | | 192,385 | | | | 3,908,364 | | | | 1,663,704 | | | | (752,079 | ) | | | 5,012,374 | |
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Operating income | | | 109,640 | | | | 349,286 | | | | 229,955 | | | | — | | | | 688,881 | |
Debt expense | | | (212,668 | ) | | | (190,315 | ) | | | (21,970 | ) | | | 211,040 | | | | (213,913 | ) |
Other income (expense) | | | 201,168 | | | | 9,681 | | | | (585 | ) | | | (211,040 | ) | | | (776 | ) |
Income tax expense | | | 34,055 | | | | 94,517 | | | | 15,764 | | | | — | | | | 144,336 | |
Equity earnings in subsidiaries | | | 220,455 | | | | 127,482 | | | | — | | | | (347,937 | ) | | | — | |
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Income from continuing operations | | | 284,540 | | | | 201,617 | | | | 191,636 | | | | (347,937 | ) | | | 329,856 | |
Discontinued operations | | | — | | | | — | | | | 13,236 | | | | — | | | | 13,236 | |
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Net income | | | 284,540 | | | | 201,617 | | | | 204,872 | | | | (347,937 | ) | | | 343,092 | |
Less: Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | (58,552 | ) | | | (58,552 | ) |
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Net income attributable to DaVita HealthCare Partners Inc. | | $ | 284,540 | | | $ | 201,617 | | | $ | 204,872 | | | $ | (406,489 | ) | | $ | 284,540 | |
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Condensed Consolidating Statements of Comprehensive Income | ' |
Condensed Consolidating Statements of Comprehensive Income |
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For the three months ended June 30, 2014 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Net income | | $ | 147,683 | | | $ | 174,067 | | | $ | 143,943 | | | $ | (284,272 | ) | | $ | 181,421 | |
Other comprehensive income | | | 2,305 | | | | — | | | | — | | | | — | | | | 2,305 | |
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Total comprehensive income | | | 149,988 | | | | 174,067 | | | | 143,943 | | | | (284,272 | ) | | | 183,726 | |
Less: comprehensive income attributable to the noncontrolling interests | | | — | | | | — | | | | — | | | | (33,738 | ) | | | (33,738 | ) |
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Comprehensive income attributable to DaVita HealthCare Partners Inc. | | $ | 149,988 | | | $ | 174,067 | | | $ | 143,943 | | | $ | (318,010 | ) | | $ | 149,988 | |
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For the three months ended June 30, 2013 | | | | | | | | | | | | | | | |
Net income | | $ | 254,376 | | | $ | 195,455 | | | $ | 90,387 | | | $ | (256,860 | ) | | $ | 283,358 | |
Other comprehensive income | | | 13,407 | | | | — | | | | — | | | | — | | | | 13,407 | |
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Total comprehensive income | | | 267,783 | | | | 195,455 | | | | 90,387 | | | | (256,860 | ) | | | 296,765 | |
Less: comprehensive income attributable to the noncontrolling interests | | | — | | | | — | | | | — | | | | (28,982 | ) | | | (28,982 | ) |
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Comprehensive income attributable to DaVita HealthCare Partners Inc. | | $ | 267,783 | | | $ | 195,455 | | | $ | 90,387 | | | $ | (285,842 | ) | | $ | 267,783 | |
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For the six months ended June 30, 2014 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Net income | | $ | 330,972 | | | $ | 330,339 | | | $ | 241,616 | | | $ | (509,769 | ) | | $ | 393,158 | |
Other comprehensive income | | | 3,311 | | | | — | | | | — | | | | — | | | | 3,311 | |
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Total comprehensive income | | | 334,283 | | | | 330,339 | | | | 241,616 | | | | (509,769 | ) | | | 396,469 | |
Less: comprehensive income attributable to the noncontrolling interests | | | — | | | | — | | | | — | | | | (62,186 | ) | | | (62,186 | ) |
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Comprehensive income attributable to DaVita HealthCare Partners Inc. | | $ | 334,283 | | | $ | 330,339 | | | $ | 241,616 | | | $ | (571,955 | ) | | $ | 334,283 | |
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For the six months ended June 30, 2013 | | | | | | | | | | | | | | | |
Net income | | $ | 284,540 | | | $ | 201,617 | | | $ | 204,872 | | | $ | (347,937 | ) | | $ | 343,092 | |
Other comprehensive income | | | 11,963 | | | | — | | | | — | | | | — | | | | 11,963 | |
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Total comprehensive income | | | 296,503 | | | | 201,617 | | | | 204,872 | | | | (347,937 | ) | | | 355,055 | |
Less: comprehensive income attributable to the noncontrolling interests | | | — | | | | — | | | | — | | | | (58,552 | ) | | | (58,552 | ) |
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Comprehensive income attributable to DaVita HealthCare Partners Inc. | | $ | 296,503 | | | $ | 201,617 | | | $ | 204,872 | | | $ | (406,489 | ) | | $ | 296,503 | |
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Condensed Consolidating Balance Sheets | ' |
Condensed Consolidating Balance Sheets |
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As of June 30, 2014 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Cash and cash equivalents | | $ | 1,081,021 | | | $ | 137,229 | | | $ | 202,723 | | | $ | — | | | $ | 1,420,973 | |
Accounts receivable, net | | | — | | | | 953,474 | | | | 596,778 | | | | — | | | | 1,550,252 | |
Other current assets | | | 83,242 | | | | 971,776 | | | | 135,004 | | | | — | | | | 1,190,022 | |
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Total current assets | | | 1,164,263 | | | | 2,062,479 | | | | 934,505 | | | | — | | | | 4,161,247 | |
Property and equipment, net | | | 187,939 | | | | 1,394,182 | | | | 708,723 | | | | — | | | | 2,290,844 | |
Amortizable intangibles, net | | | 92,421 | | | | 1,867,978 | | | | 62,476 | | | | — | | | | 2,022,875 | |
Investments in subsidiaries | | | 8,784,145 | | | | 1,589,418 | | | | — | | | | (10,373,563 | ) | | | — | |
Intercompany receivables | | | 3,645,401 | | | | — | | | | 545,592 | | | | (4,190,993 | ) | | | — | |
Other long-term assets and investments | | | 59,487 | | | | 62,812 | | | | 74,263 | | | | — | | | | 196,562 | |
Goodwill | | | — | | | | 7,875,336 | | | | 1,378,707 | | | | — | | | | 9,254,043 | |
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Total assets | | $ | 13,933,656 | | | $ | 14,852,205 | | | $ | 3,704,266 | | | $ | (14,564,556 | ) | | $ | 17,925,571 | |
Current liabilities | | | 496,066 | | | | 1,744,652 | | | | 367,430 | | | | — | | | | 2,608,148 | |
Intercompany payables | | | — | | | | 3,115,717 | | | | 1,075,276 | | | | (4,190,993 | ) | | | — | |
Long-term debt and other long-term liabilities | | | 8,157,874 | | | | 1,207,691 | | | | 234,791 | | | | — | | | | 9,600,356 | |
Noncontrolling interests subject to put provisions | | | 493,945 | | | | — | | | | — | | | | 266,297 | | | | 760,242 | |
Total DaVita HealthCare Partners Inc. shareholders’ equity | | | 4,785,771 | | | | 8,784,145 | | | | 1,589,418 | | | | (10,373,563 | ) | | | 4,785,771 | |
Noncontrolling interests not subject to put provisions | | | — | | | | — | | | | 437,351 | | | | (266,297 | ) | | | 171,054 | |
| | | | | | | | | | | | | | | | | | | | |
Total equity | | | 4,785,771 | | | | 8,784,145 | | | | 2,026,769 | | | | (10,639,860 | ) | | | 4,956,825 | |
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Total liabilities and equity | | $ | 13,933,656 | | | $ | 14,852,205 | | | $ | 3,704,266 | | | $ | (14,564,556 | ) | | $ | 17,925,571 | |
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As of December 31, 2013 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Cash and cash equivalents | | $ | 602,188 | | | $ | 175,004 | | | $ | 169,057 | | | $ | — | | | $ | 946,249 | |
Accounts receivable, net | | | — | | | | 939,543 | | | | 545,620 | | | | — | | | | 1,485,163 | |
Other current assets | | | 27,910 | | | | 908,010 | | | | 104,946 | | | | — | | | | 1,040,866 | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 630,098 | | | | 2,022,557 | | | | 819,623 | | | | — | | | | 3,472,278 | |
Property and equipment, net | | | 177,633 | | | | 1,377,924 | | | | 633,854 | | | | — | | | | 2,189,411 | |
Amortizable intangibles, net | | | 77,531 | | | | 1,882,685 | | | | 64,157 | | | | — | | | | 2,024,373 | |
Investments in subsidiaries | | | 8,231,059 | | | | 1,389,558 | | | | — | | | | (9,620,617 | ) | | | — | |
Intercompany receivables | | | 3,983,214 | | | | — | | | | 480,993 | | | | (4,464,207 | ) | | | — | |
Other long-term assets and investments | | | 61,391 | | | | 67,402 | | | | 71,048 | | | | — | | | | 199,841 | |
Goodwill | | | — | | | | 7,837,421 | | | | 1,375,553 | | | | — | | | | 9,212,974 | |
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Total assets | | $ | 13,160,926 | | | $ | 14,577,547 | | | $ | 3,445,228 | | | $ | (14,084,824 | ) | | $ | 17,098,877 | |
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Current liabilities | | $ | 328,875 | | | $ | 1,774,634 | | | $ | 358,540 | | | $ | — | | | $ | 2,462,049 | |
Intercompany payables | | | — | | | | 3,421,198 | | | | 1,043,009 | | | | (4,464,207 | ) | | | — | |
Long-term debt and other long-term liabilities | | | 7,948,390 | | | | 1,150,656 | | | | 234,941 | | | | — | | | | 9,333,987 | |
Noncontrolling interests subject to put provisions | | | 451,182 | | | | — | | | | — | | | | 246,118 | | | | 697,300 | |
Total DaVita HealthCare Partners Inc. shareholders’ equity | | | 4,432,479 | | | | 8,231,059 | | | | 1,389,558 | | | | (9,620,617 | ) | | | 4,432,479 | |
Noncontrolling interests not subject to put provisions | | | — | | | | — | | | | 419,180 | | | | (246,118 | ) | | | 173,062 | |
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Total equity | | | 4,432,479 | | | | 8,231,059 | | | | 1,808,738 | | | | (9,866,735 | ) | | | 4,605,541 | |
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Total liabilities and equity | | $ | 13,160,926 | | | $ | 14,577,547 | | | $ | 3,445,228 | | | $ | (14,084,824 | ) | | $ | 17,098,877 | |
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Condensed Consolidating Statements of Cash Flows | ' |
Condensed Consolidating Statements of Cash Flows |
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For the six months ended June 30, 2014 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 330,972 | | | $ | 330,339 | | | $ | 241,616 | | | $ | (509,769 | ) | | $ | 393,158 | |
Changes in operating assets and liabilities and non-cash items included in net income | | | (191,299 | ) | | | 7,007 | | | | (37,137 | ) | | | 509,769 | | | | 288,340 | |
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Net cash provided by operating activities | | | 139,673 | | | | 337,346 | | | | 204,479 | | | | — | | | | 681,498 | |
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Cash flows from investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions of property and equipment, net | | | (25,377 | ) | | | (123,519 | ) | | | (129,697 | ) | | | — | | | | (278,593 | ) |
Acquisitions | | | — | | | | (97,057 | ) | | | (1,385 | ) | | | — | | | | (98,442 | ) |
Proceeds from asset and business sales | | | — | | | | 215 | | | | — | | | | — | | | | 215 | |
Purchases/proceeds from investment sales and other items | | | (58,496 | ) | | | (5,263 | ) | | | (2,276 | ) | | | — | | | | (66,035 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | (83,873 | ) | | | (225,624 | ) | | | (133,358 | ) | | | — | | | | (442,855 | ) |
| | | | | | | | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | | | | |
Long-term debt and related financing costs, net | | | 353,406 | | | | (7,158 | ) | | | 2,188 | | | | — | | | | 348,436 | |
Intercompany borrowing | | | 139,052 | | | | (137,529 | ) | | | (1,523 | ) | | | — | | | | — | |
Other items | | | (69,425 | ) | | | (4,810 | ) | | | (37,553 | ) | | | — | | | | (111,788 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | 423,033 | | | | (149,497 | ) | | | (36,888 | ) | | | — | | | | 236,648 | |
| | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash | | | — | | | | — | | | | (567 | ) | | | — | | | | (567 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | 478,833 | | | | (37,775 | ) | | | 33,666 | | | | — | | | | 474,724 | |
Cash and cash equivalents at beginning of period | | | 602,188 | | | | 175,004 | | | | 169,057 | | | | — | | | | 946,249 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 1,081,021 | | | $ | 137,229 | | | $ | 202,723 | | | $ | — | | | $ | 1,420,973 | |
| | | | | | | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | | |
For the six months ended June 30, 2013 | | DaVita | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
HealthCare | subsidiaries | subsidiaries | adjustments | total |
Partners Inc. | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 284,540 | | | $ | 201,617 | | | $ | 204,872 | | | $ | (347,937 | ) | | $ | 343,092 | |
Changes in operating assets and liabilities and non-cash items included in net income | | | (271,776 | ) | | | 288,254 | | | | (21,481 | ) | | | 347,937 | | | | 342,934 | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities | | | 12,764 | | | | 489,871 | | | | 183,391 | | | | — | | | | 686,026 | |
| | | | | | | | | | | | | | | | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions of property and equipment, net | | | (24,213 | ) | | | (131,671 | ) | | | (102,512 | ) | | | — | | | | (258,396 | ) |
Acquisitions | | | — | | | | (119,818 | ) | | | (32,294 | ) | | | — | | | | (152,112 | ) |
Proceeds from asset sales | | | 60,650 | | | | 3,713 | | | | — | | | | — | | | | 64,363 | |
Purchases of investments and other items | | | (2,201 | ) | | | 359 | | | | 100 | | | | — | | | | (1,742 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | 34,236 | | | | (247,417 | ) | | | (134,706 | ) | | | — | | | | (347,887 | ) |
| | | | | | | | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | | | | |
Long-term debt and related financing costs, net | | | (238,400 | ) | | | (5,496 | ) | | | (7,472 | ) | | | — | | | | (251,368 | ) |
Intercompany borrowing | | | 250,330 | | | | (284,739 | ) | | | 34,409 | | | | — | | | | — | |
Other items | | | 37,264 | | | | 5,429 | | | | (45,074 | ) | | | — | | | | (2,381 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | 49,194 | | | | (284,806 | ) | | | (18,137 | ) | | | — | | | | (253,749 | ) |
| | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash | | | — | | | | — | | | | (234 | ) | | | — | | | | (234 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | 96,194 | | | | (42,352 | ) | | | 30,314 | | | | — | | | | 84,156 | |
Cash and cash equivalents at beginning of period | | | 195,037 | | | | 166,107 | | | | 172,604 | | | | — | | | | 533,748 | |
| | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 291,231 | | | $ | 123,755 | | | $ | 202,918 | | | $ | — | | | $ | 617,904 | |
| | | | | | | | | | | | | | | | | | | | |
Reportable Legal Entities | ' |
Condensed Consolidating Statements of Income | ' |
Condensed Consolidating Statements of Income |
|
| | | | | | | | | | | | | | | | | | | | |
For the three months ended June 30, 2014 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Patient service operating revenues | | $ | 2,187,249 | | | $ | 29,361 | | | $ | — | | | $ | 2,157,888 | | | | | |
Less: Provision for uncollectible accounts | | | (88,052 | ) | | | (1,979 | ) | | | — | | | | (86,073 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net patient service operating revenues | | | 2,099,197 | | | | 27,382 | | | | — | | | | 2,071,815 | | | | | |
Capitated revenues | | | 799,369 | | | | 368,551 | | | | — | | | | 430,818 | | | | | |
Other revenues | | | 273,923 | | | | 2,313 | | | | — | | | | 271,610 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total net operating revenues | | | 3,172,489 | | | | 398,246 | | | | — | | | | 2,774,243 | | | | | |
Operating expenses | | | 2,688,194 | | | | 386,281 | | | | (16 | ) | | | 2,301,929 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Operating income | | | 484,295 | | | | 11,965 | | | | 16 | | | | 472,314 | | | | | |
Debt expense, including refinancing charges | | | (203,680 | ) | | | (3,423 | ) | | | — | | | | (200,257 | ) | | | | |
Other income | | | 1,693 | | | | 25 | | | | — | | | | 1,668 | | | | | |
Income tax expense | | | 100,887 | | | | 2,712 | | | | 7 | | | | 98,168 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net income | | | 181,421 | | | | 5,855 | | | | 9 | | | | 175,557 | | | | | |
Minority interests | | | (33,738 | ) | | | — | | | | — | | | | (33,738 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net income attributable to DaVita HealthCare Partners Inc. | | $ | 147,683 | | | $ | 5,855 | | | $ | 9 | | | $ | 141,819 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | | |
For the six months ended June 30, 2014 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Patient service operating revenues | | $ | 4,301,347 | | | $ | 60,500 | | | $ | — | | | $ | 4,240,847 | | | | | |
Less: Provision for uncollectible accounts | | | (171,249 | ) | | | (2,589 | ) | | | — | | | | (168,660 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net patient service operating revenues | | | 4,130,098 | | | | 57,911 | | | | — | | | | 4,072,187 | | | | | |
Capitated revenues | | | 1,586,934 | | | | 734,680 | | | | — | | | | 852,254 | | | | | |
Other revenues | | | 498,233 | | | | 2,879 | | | | — | | | | 495,354 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total net operating revenues | | | 6,215,265 | | | | 795,470 | | | | — | | | | 5,419,795 | | | | | |
Operating expenses | | | 5,289,745 | | | | 775,799 | | | | 236 | | | | 4,513,710 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Operating income | | | 925,520 | | | | 19,671 | | | | (236 | ) | | | 906,085 | | | | | |
Debt expense, including refinancing charges | | | (310,015 | ) | | | (6,618 | ) | | | — | | | | (303,397 | ) | | | | |
Other income | | | 3,391 | | | | 33 | | | | — | | | | 3,358 | | | | | |
Income tax expense | | | 225,738 | | | | 4,157 | | | | (94 | ) | | | 221,675 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net income | | | 393,158 | | | | 8,929 | | | | (142 | ) | | | 384,371 | | | | | |
Minority interests | | | (62,186 | ) | | | — | | | | — | | | | (62,186 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net income attributable to DaVita HealthCare Partners Inc. | | $ | 330,972 | | | $ | 8,929 | | | $ | (142 | ) | | $ | 322,185 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
(1) | After the elimination of the unrestricted subsidiaries and the physician groups | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statements of Comprehensive Income | ' |
Condensed Consolidating Statements of Comprehensive Income |
|
| | | | | | | | | | | | | | | | | | | | |
For the three months ended June 30, 2014 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Net income | | $ | 181,421 | | | $ | 5,855 | | | $ | 9 | | | $ | 175,557 | | | | | |
Other comprehensive income | | | 2,305 | | | | — | | | | — | | | | 2,305 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total comprehensive income | | | 183,726 | | | | 5,855 | | | | 9 | | | | 177,862 | | | | | |
Less: comprehensive income attributable to the noncontrolling interests | | | (33,738 | ) | | | — | | | | — | | | | (33,738 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | | $ | 149,988 | | | $ | 5,855 | | | $ | 9 | | | $ | 144,124 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | | |
For the six months ended June 30, 2014 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Net income | | $ | 393,158 | | | $ | 8,929 | | | $ | (142 | ) | | $ | 384,371 | | | | | |
Other comprehensive income | | | 3,311 | | | | — | | | | — | | | | 3,311 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total comprehensive income | | | 396,469 | | | | 8,929 | | | | (142 | ) | | | 387,682 | | | | | |
Less: comprehensive income attributable to the noncontrolling interests | | | (62,186 | ) | | | — | | | | — | | | | (62,186 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | | $ | 334,283 | | | $ | 8,929 | | | $ | (142 | ) | | $ | 325,496 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
(1) | After the elimination of the unrestricted subsidiaries and the physician groups | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | ' |
Condensed Consolidating Balance Sheets |
|
| | | | | | | | | | | | | | | | | | | | |
As of June 30, 2014 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Cash and cash equivalents | | $ | 1,420,973 | | | $ | 117,313 | | | $ | — | | | $ | 1,303,660 | | | | | |
Accounts receivable, net | | | 1,550,252 | | | | 239,428 | | | | — | | | | 1,310,824 | | | | | |
Other current assets | | | 1,190,022 | | | | 27,776 | | | | — | | | | 1,162,246 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 4,161,247 | | | | 384,517 | | | | — | | | | 3,776,730 | | | | | |
Property and equipment, net | | | 2,290,844 | | | | 5,006 | | | | — | | | | 2,285,838 | | | | | |
Amortizable intangibles, net | | | 2,022,875 | | | | 6,794 | | | | — | | | | 2,016,081 | | | | | |
Other long-term assets | | | 196,562 | | | | 69,311 | | | | 3,089 | | | | 124,162 | | | | | |
Goodwill | | | 9,254,043 | | | | 9,181 | | | | — | | | | 9,244,862 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 17,925,571 | | | $ | 474,809 | | | $ | 3,089 | | | $ | 17,447,673 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Current liabilities | | $ | 2,608,148 | | | $ | 175,238 | | | $ | — | | | $ | 2,432,910 | | | | | |
Payables to parent | | | — | | | | 202,448 | | | | 3,089 | | | | (205,537 | ) | | | | |
Long-term debt and other long-term liabilities | | | 9,600,356 | | | | 83,106 | | | | — | | | | 9,517,250 | | | | | |
Noncontrolling interests subject to put provisions | | | 760,242 | | | | — | | | | — | | | | 760,242 | | | | | |
Total DaVita HealthCare Partners Inc. shareholders’ equity | | | 4,785,771 | | | | 14,017 | | | | — | | | | 4,771,754 | | | | | |
Noncontrolling interests not subject to put provisions | | | 171,054 | | | | — | | | | — | | | | 171,054 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Shareholders’ equity | | | 4,956,825 | | | | 14,017 | | | | — | | | | 4,942,808 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and shareholder’s equity | | $ | 17,925,571 | | | $ | 474,809 | | | $ | 3,089 | | | $ | 17,447,673 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | | |
As of December 31, 2013 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Cash and cash equivalents | | $ | 946,249 | | | $ | 127,309 | | | $ | — | | | $ | 818,940 | | | | | |
Accounts receivable, net | | | 1,485,163 | | | | 235,463 | | | | — | | | | 1,249,700 | | | | | |
Other current assets | | | 1,040,866 | | | | 35,640 | | | | — | | | | 1,005,226 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 3,472,278 | | | | 398,412 | | | | — | | | | 3,073,866 | | | | | |
Property and equipment, net | | | 2,189,411 | | | | 5,541 | | | | — | | | | 2,183,870 | | | | | |
Amortizable intangibles, net | | | 2,024,373 | | | | 7,283 | | | | — | | | | 2,017,090 | | | | | |
Other long-term assets | | | 199,841 | | | | 64,013 | | | | 3,325 | | | | 132,503 | | | | | |
Goodwill | | | 9,212,974 | | | | 8,981 | | | | — | | | | 9,203,993 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 17,098,877 | | | $ | 484,230 | | | $ | 3,325 | | | $ | 16,611,322 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Current liabilities | | $ | 2,462,049 | | | $ | 193,079 | | | $ | — | | | $ | 2,268,970 | | | | | |
Payables to parent | | | — | | | | 194,958 | | | | 3,325 | | | | (198,283 | ) | | | | |
Long-term debt and other long-term liabilities | | | 9,333,987 | | | | 94,727 | | | | — | | | | 9,239,260 | | | | | |
Noncontrolling interests subject to put provisions | | | 697,300 | | | | — | | | | — | | | | 697,300 | | | | | |
Total DaVita HealthCare Partners Inc. shareholders’ equity | | | 4,432,479 | | | | 1,466 | | | | — | | | | 4,431,013 | | | | | |
Noncontrolling interests not subject to put provisions | | | 173,062 | | | | — | | | | — | | | | 173,062 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Shareholders’ equity | | | 4,605,541 | | | | 1,466 | | | | — | | | | 4,604,075 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and shareholder’s equity | | $ | 17,098,877 | | | $ | 484,230 | | | $ | 3,325 | | | $ | 16,611,322 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
(1) | After the elimination of the unrestricted subsidiaries and the physician groups | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statements of Cash Flows | ' |
Condensed Consolidating Statements of Cash Flows |
|
| | | | | | | | | | | | | | | | | | | | |
For the six months ended June 30, 2014 | | Consolidated | | | Physician | | | Unrestricted | | | Company and | | | | | |
Total | Groups | Subsidiaries | Restricted | | | | |
| | | Subsidiaries(1) | | | | |
Cash flows from operating activities: | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 393,158 | | | $ | 8,929 | | | $ | (142 | ) | | $ | 384,371 | | | | | |
Changes in operating and intercompany assets and liabilities and non-cash items included in net income | | | 288,340 | | | | (27,961 | ) | | | 142 | | | | 316,159 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | | 681,498 | | | | (19,032 | ) | | | — | | | | 700,530 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions of property and equipment | | | (278,593 | ) | | | (20 | ) | | | — | | | | (278,573 | ) | | | | |
Acquisitions and divestitures, net | | | (98,442 | ) | | | — | | | | — | | | | (98,442 | ) | | | | |
Proceeds from discontinued operations | | | 215 | | | | — | | | | — | | | | 215 | | | | | |
Investments and other items | | | (66,035 | ) | | | (2,276 | ) | | | — | | | | (63,759 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | (442,855 | ) | | | (2,296 | ) | | | — | | | | (440,559 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | | | | | |
Long-term debt | | | 348,436 | | | | — | | | | — | | | | 348,436 | | | | | |
Intercompany | | | — | | | | 11,332 | | | | — | | | | (11,332 | ) | | | | |
Other items | | | (111,788 | ) | | | — | | | | — | | | | (111,788 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by financing activities | | | 236,648 | | | | 11,332 | | | | — | | | | 225,316 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash | | | (567 | ) | | | — | | | | — | | | | (567 | ) | | | | |
Net increase (decrease) in cash | | | 474,724 | | | | (9,996 | ) | | | — | | | | 484,720 | | | | | |
Cash at beginning of year | | | 946,249 | | | | 127,309 | | | | — | | | | 818,940 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Cash at end of year | | $ | 1,420,973 | | | $ | 117,313 | | | $ | — | | | $ | 1,303,660 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
(1) | After the elimination of the unrestricted subsidiaries and the physician groups | | | | | | | | | | | | | | | | | | | |