Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2014 | Jan. 30, 2015 | Jun. 30, 2014 |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | DVA | ||
Entity Registrant Name | DAVITA HEALTHCARE PARTNERS INC. | ||
Entity Central Index Key | 927066 | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 215,800,000 | 214,800,000 | |
Entity Public Float | $16.20 | $15.50 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||
Patient service revenues | $8,868,338 | $8,307,195 | $7,351,902 |
Less: Provision for uncollectible accounts | -366,884 | -293,546 | -235,218 |
Net patient service revenues | 8,501,454 | 8,013,649 | 7,116,684 |
Capitated revenues | 3,261,288 | 2,987,315 | 481,336 |
Other revenues | 1,032,364 | 763,086 | 588,260 |
Total net revenues | 12,795,106 | 11,764,050 | 8,186,280 |
Operating expenses and charges: | |||
Patient care costs and other costs | 9,119,305 | 8,198,377 | 5,583,549 |
General and administrative | 1,261,506 | 1,176,485 | 889,879 |
Depreciation and amortization | 590,935 | 528,737 | 341,969 |
Provision for uncollectible accounts | 14,453 | 4,852 | 4,339 |
Equity investment income | -23,234 | -34,558 | -16,377 |
Loss contingency reserve and other legal settlements | 17,000 | 397,000 | 85,837 |
Contingent earn-out obligation adjustment | -56,977 | ||
Total operating expenses and charges | 10,979,965 | 10,213,916 | 6,889,196 |
Operating income | 1,815,141 | 1,550,134 | 1,297,084 |
Debt expense | -410,294 | -429,943 | -288,554 |
Debt refinancing charges | -97,548 | -10,963 | |
Other income, net | 2,374 | 4,787 | 3,737 |
Income from continuing operations before income taxes | 1,309,673 | 1,124,978 | 1,001,304 |
Income tax expense | 446,343 | 381,013 | 359,845 |
Income from continuing operations | 863,330 | 743,965 | 641,459 |
Discontinued operations: | |||
Loss from operations of discontinued operations, net of tax | -139 | -222 | |
Gain on disposal of discontinued operations, net of tax | 13,375 | ||
Net income | 863,330 | 757,201 | 641,237 |
Less: Net income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 |
Net income | 723,114 | 633,446 | 536,017 |
Earnings per share: | |||
Basic income from continuing operations per share attributable to DaVita HealthCare Partners Inc. | $3.41 | $2.95 | $2.79 |
Basic net income per share attributable to DaVita HealthCare Partners Inc. | $3.41 | $3.02 | $2.79 |
Diluted income from continuing operations per share attributable to DaVita HealthCare Partners Inc. | $3.33 | $2.89 | $2.74 |
Diluted net income per share attributable to DaVita HealthCare Partners Inc. | $3.33 | $2.95 | $2.74 |
Weighted average shares for earnings per share: | |||
Basic | 212,301,827 | 209,939,364 | 192,035,878 |
Diluted | 216,927,681 | 214,763,887 | 195,942,160 |
Amounts attributable to DaVita HealthCare Partners Inc.: | |||
Income from continuing operations | 723,114 | 620,197 | 536,236 |
Discontinued operations | 13,249 | -219 | |
Net income | $723,114 | $633,446 | $536,017 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income | $863,330 | $757,201 | $641,237 |
Unrealized (losses) gain on interest rate swap and cap agreements: | |||
Unrealized (losses) gain on interest rate swap and cap agreements | -10,059 | 169 | -6,204 |
Reclassifications of net swap and cap agreements realized losses into net income | 10,608 | 12,889 | 10,130 |
Unrealized gains on investments: | |||
Unrealized gains on investments | 238 | 2,300 | 1,541 |
Reclassification of net investment realized gains into net income | -207 | -490 | -75 |
Foreign currency translation adjustments | -22,952 | -2,216 | -1,205 |
Other comprehensive (losses) income | -22,372 | 12,652 | 4,187 |
Total comprehensive income (losses) | 840,958 | 769,853 | 645,424 |
Less: Comprehensive income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | $700,742 | $646,098 | $540,204 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and cash equivalents | $965,241 | $946,249 |
Short-term investments | 337,399 | 6,801 |
Accounts receivable, less allowance of $242,674 and $237,143 | 1,525,849 | 1,485,163 |
Inventories | 136,085 | 88,805 |
Other receivables | 400,916 | 349,090 |
Other current assets | 186,842 | 176,414 |
Income tax receivable | 83,839 | 10,315 |
Deferred income taxes | 240,626 | 409,441 |
Total current assets | 3,876,797 | 3,472,278 |
Property and equipment, net | 2,469,099 | 2,189,411 |
Intangibles, net | 1,949,498 | 2,024,373 |
Equity investments | 65,637 | 40,686 |
Long-term investments | 89,389 | 79,557 |
Other long-term assets | 77,000 | 79,598 |
Goodwill | 9,415,295 | 9,212,974 |
Total assets | 17,942,715 | 17,098,877 |
LIABILITIES AND EQUITY | ||
Accounts payable | 445,453 | 435,465 |
Other liabilities | 506,579 | 464,422 |
Accrued compensation and benefits | 698,475 | 603,013 |
Medical payables | 314,347 | 287,452 |
Loss contingency reserve | 3,644 | 397,000 |
Current portion of long-term debt | 120,154 | 274,697 |
Total current liabilities | 2,088,652 | 2,462,049 |
Long-term debt | 8,383,280 | 8,141,231 |
Other long-term liabilities | 389,806 | 380,337 |
Deferred income taxes | 890,701 | 812,419 |
Total liabilities | 11,752,439 | 11,796,036 |
Commitments and contingencies | ||
Noncontrolling interests subject to put provisions | 829,965 | 697,300 |
Equity: | ||
Preferred stock ($0.001 par value, 5,000,000 shares authorized; none issued) | ||
Common stock ($0.001 par value, 450,000,000 shares authorized; 215,640,968 and 213,163,248 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively) | 216 | 213 |
Additional paid-in capital | 1,108,211 | 1,070,922 |
Retained earnings | 4,087,103 | 3,363,989 |
Accumulated other comprehensive loss | -25,017 | -2,645 |
Total DaVita HealthCare Partners Inc. shareholders' equity | 5,170,513 | 4,432,479 |
Noncontrolling interests not subject to put provisions | 189,798 | 173,062 |
Total equity | 5,360,311 | 4,605,541 |
Total liabilities and equity | $17,942,715 | $17,098,877 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ||
Accounts receivable, allowance | $242,674 | $237,143 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, issued | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 450,000,000 | 450,000,000 |
Common stock, shares issued | 215,640,968 | 213,163,248 |
Common stock, shares outstanding | 215,640,968 | 213,163,248 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $863,330 | $757,201 | $641,237 |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Loss contingency accrual | 17,000 | 397,000 | |
Depreciation and amortization | 590,935 | 528,119 | 343,908 |
Debt refinancing charges | 97,548 | 10,963 | |
Stock-based compensation expense | 56,743 | 59,998 | 45,384 |
Tax benefits from stock award exercises | 59,119 | 46,898 | 88,964 |
Excess tax benefits from stock award exercises | -45,271 | -36,197 | -62,036 |
Deferred income taxes | 210,955 | -25,380 | 43,765 |
Equity investment income, net | 10,125 | 2,872 | 3,384 |
Other non-cash charges and losses on disposal of assets | 39,274 | -31,351 | 30,390 |
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures: | |||
Accounts receivable | -40,676 | -59,640 | -47,673 |
Inventories | -46,398 | -8,971 | 4,052 |
Other receivables and other current assets | -61,674 | -108,434 | 51,730 |
Other long-term assets | 2,916 | 17,731 | -1,775 |
Accounts payable | -2,956 | 16,666 | 40,878 |
Accrued compensation and benefits | 97,261 | 38,368 | 18,476 |
Other current liabilities | 83,590 | 78,817 | 11,083 |
Loss contingency reserve | -410,356 | ||
Income taxes | -60,475 | 33,499 | -129,948 |
Other long-term liabilities | -1,583 | 66,145 | 19,029 |
Net cash provided by operating activities | 1,459,407 | 1,773,341 | 1,100,848 |
Cash flows from investing activities: | |||
Additions of property and equipment, net | -641,330 | -617,597 | -550,146 |
Acquisitions | -272,094 | -310,394 | -4,294,077 |
Proceeds from asset sales | 8,791 | 62,258 | 3,559 |
Purchase of investments available-for-sale | -8,440 | -12,445 | -3,935 |
Purchase of investments held-to-maturity | -472,628 | -1,039 | -7,418 |
Proceeds from sale of investments available-for-sale | 2,475 | 4,158 | 7,211 |
Proceeds from investments held-to-maturity | 141,072 | 1,376 | 14,530 |
Purchase of intangible assets | -1,018 | -2,391 | -830 |
Purchase of equity investments | -35,382 | -1,305 | -1,352 |
Distributions received on equity investments | 825 | 497 | 8 |
Net cash used in investing activities | -1,277,729 | -876,882 | -4,832,450 |
Cash flows from financing activities: | |||
Borrowings | 60,038,508 | 66,286,097 | 43,248,175 |
Payments on long-term debt, contingent earn-out obligations and other financing costs | -60,046,487 | -66,723,385 | -39,286,027 |
Deferred financing and debt redemption costs | -122,988 | -719 | -57,241 |
Distributions to noncontrolling interests | -149,339 | -139,326 | -113,504 |
Stock award exercises and other share issuances, net | 19,500 | 16,423 | 6,647 |
Excess tax benefits from stock award exercises | 45,271 | 36,197 | 62,036 |
Contributions from noncontrolling interests | 64,655 | 36,996 | 37,395 |
Proceeds from sales of additional noncontrolling interests | 3,777 | 8,295 | 1,664 |
Purchases from noncontrolling interests | -17,876 | -3,569 | -26,761 |
Net cash (used in) provided by financing activities | -164,979 | -482,991 | 3,872,384 |
Effect of exchange rate changes on cash and cash equivalents | 2,293 | -967 | -786 |
Net increase in cash and cash equivalents | 18,992 | 412,501 | 139,996 |
Cash and cash equivalents at beginning of the year | 946,249 | 533,748 | 393,752 |
Cash and cash equivalents at end of the year | $965,241 | $946,249 | $533,748 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Total | Non- controlling Interests subject to put Provisions | Common stock | Additional paid-in capital | Retained earnings | Treasury stock | Accumulated other comprehensive income (loss) | Total | Non-controlling interests not subject to put provisions |
In Thousands, except Share data, unless otherwise specified | |||||||||
Beginning Balance at Dec. 31, 2011 | $478,216 | $270 | $596,165 | $3,195,818 | ($1,631,694) | ($19,484) | $2,141,075 | $127,050 | |
Beginning Balance (in shares) at Dec. 31, 2011 | 269,725,000 | -82,442,000 | |||||||
Comprehensive income: | |||||||||
Net income | 641,237 | 66,456 | 536,017 | 536,017 | 38,764 | ||||
Other comprehensive income | 4,187 | 4,187 | 4,187 | ||||||
Stock purchase shares issued | 4,311 | 4,011 | 8,322 | ||||||
Stock purchase shares issued (in shares) | 203,000 | ||||||||
Stock unit shares issued | -8,303 | 8,303 | |||||||
Stock unit shares issued (in shares) | 419,000 | ||||||||
Stock-settled SAR shares issued | -83,558 | 85,733 | 2,175 | ||||||
Stock-settled SAR shares issued (in shares) | 4,332,000 | ||||||||
Stock-based compensation expense | 45,384 | 45,384 | |||||||
Excess tax benefits from stock awards exercised | 62,036 | 62,036 | |||||||
Issuance of common stock associated with the HCP acquisition | 684,161 | 371,311 | 1,055,472 | ||||||
Issuance of common stock associated with the HCP acquisition (in shares) | 18,760,000 | ||||||||
Assumption of noncontrolling interests associated with the HCP acquisition | 29,850 | ||||||||
Distributions to noncontrolling interests | -70,133 | -43,371 | |||||||
Contributions from noncontrolling interests | 26,371 | 11,024 | |||||||
Sales and assumptions of additional noncontrolling interests | 20,124 | 1,064 | 1,064 | 2,432 | |||||
Purchases from noncontrolling interests | -5,229 | -20,694 | -20,694 | -838 | |||||
Changes in fair value of noncontrolling interests | 71,901 | -71,901 | -71,901 | ||||||
Held for sale reclassification | -7,014 | ||||||||
Purchase accounting adjustment | -11,123 | ||||||||
Ending Balance at Dec. 31, 2012 | 580,692 | 270 | 1,208,665 | 3,731,835 | -1,162,336 | -15,297 | 3,763,137 | 153,788 | |
Ending Balance (in shares) at Dec. 31, 2012 | 269,725,000 | -58,728,000 | |||||||
Comprehensive income: | |||||||||
Net income | 757,201 | 78,215 | 633,446 | 633,446 | 45,540 | ||||
Other comprehensive income | 12,652 | 12,652 | 12,652 | ||||||
Stock purchase shares issued | 12,817 | 12,817 | |||||||
Stock purchase shares issued (in shares) | 238,000 | ||||||||
Stock unit shares issued | -3,286 | 3,247 | -39 | ||||||
Stock unit shares issued (in shares) | 7,000 | 164,000 | |||||||
Stock-settled SAR shares issued | -29,025 | 28,561 | -464 | ||||||
Stock-settled SAR shares issued (in shares) | 313,000 | 1,444,000 | |||||||
Stock-based compensation expense | 59,998 | 59,998 | |||||||
Excess tax benefits from stock awards exercised | 36,197 | 36,197 | |||||||
Distributions to noncontrolling interests | -80,353 | -58,973 | |||||||
Contributions from noncontrolling interests | 22,053 | 14,943 | |||||||
Sales and assumptions of additional noncontrolling interests | 23,642 | -1,442 | -1,442 | 10,770 | |||||
Purchases from noncontrolling interests | -512 | -3,119 | -3,119 | -147 | |||||
Expiration of put option and other reclassification | -7,141 | 7,141 | |||||||
Changes in fair value of noncontrolling interests | 80,704 | -80,704 | -80,704 | ||||||
Treasury stock retirement | -57 | -129,179 | -1,001,292 | 1,130,528 | |||||
Treasury stock retirement (Shares) | -57,120,000 | 57,120,000 | |||||||
Ending Balance at Dec. 31, 2013 | 4,605,541 | 697,300 | 213 | 1,070,922 | 3,363,989 | -2,645 | 4,432,479 | 173,062 | |
Ending Balance (in shares) at Dec. 31, 2013 | 213,163,248 | 213,163,000 | |||||||
Comprehensive income: | |||||||||
Net income | 863,330 | 88,425 | 723,114 | 723,114 | 51,791 | ||||
Other comprehensive income | -22,372 | -22,372 | -22,372 | ||||||
Stock purchase shares issued | 19,010 | 19,010 | |||||||
Stock purchase shares issued (in shares) | 298,000 | ||||||||
Stock unit shares issued | 1 | -28 | -27 | ||||||
Stock unit shares issued (in shares) | 304,000 | ||||||||
Stock-settled SAR shares issued | 2 | -2 | |||||||
Stock-settled SAR shares issued (in shares) | 1,876,000 | ||||||||
Stock-based compensation expense | 54,969 | 54,969 | |||||||
Excess tax benefits from stock awards exercised | 45,271 | 45,271 | |||||||
Distributions to noncontrolling interests | -93,884 | -55,455 | |||||||
Contributions from noncontrolling interests | 41,876 | 22,779 | |||||||
Sales and assumptions of additional noncontrolling interests | 25,220 | 355 | 355 | 4,165 | |||||
Purchases from noncontrolling interests | -6,111 | -5,357 | -5,357 | -6,544 | |||||
Changes in fair value of noncontrolling interests | 77,139 | -77,139 | -77,139 | ||||||
Other reclassification | 210 | 210 | |||||||
Ending Balance at Dec. 31, 2014 | $5,360,311 | $829,965 | $216 | $1,108,211 | $4,087,103 | ($25,017) | $5,170,513 | $189,798 | |
Ending Balance (in shares) at Dec. 31, 2014 | 215,640,968 | 215,641,000 |
Organization_and_summary_of_si
Organization and summary of significant accounting policies | 12 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Organization and summary of significant accounting policies | 1 | Organization and summary of significant accounting policies |
Organization | ||
DaVita HealthCare Partners Inc. operates two major divisions, Kidney Care and HealthCare Partners (HCP). Kidney Care is comprised of the Company’s U.S. dialysis and related lab services, our ancillary services and strategic initiatives, including our international operations, and our corporate support costs. The Company’s largest line of business is its U.S. dialysis and related lab services business, which operates kidney dialysis centers and provides related lab services primarily in outpatient dialysis centers and in contracted hospitals within the U.S. As of December 31, 2014, the Company operated or provided administrative services through a network of 2,179 U.S. outpatient dialysis centers in 46 states and the District of Columbia, serving approximately 173,000 patients. The Company’s HCP division is a patient- and physician-focused integrated healthcare delivery and management company that provides medical services to members primarily through capitation contracts with some of the nation’s leading health plans. | ||
As of December 31, 2014, the Company operated or provided administrative services to 91 outpatient dialysis centers located in ten countries outside of the U.S. | ||
The Company’s U.S. dialysis and related lab services business and HCP qualify as separately reportable segments and the Company’s other ancillary services and strategic initiatives, including its international operations, have been combined and disclosed in the other segments category. | ||
Basis of presentation | ||
These consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The financial statements include DaVita HealthCare Partners Inc. and its subsidiaries, partnerships and other entities in which it maintains a 100% or majority voting interest, another controlling financial interest, or of which it is considered the primary beneficiary (collectively, the Company). All significant intercompany transactions and balances have been eliminated. Non-marketable equity investments are recorded under the equity or cost method of accounting based upon whether the Company has significant influence over the investee. For the Company’s international subsidiaries, local currencies are considered their functional currencies. Translation adjustments result from translating the Company’s international subsidiaries’ financial statements from their functional currencies into the Company’s reporting currency (USD). Prior year balances and amounts have been reclassified to conform to the current year presentation and retrospectively revised to reflect purchase accounting entries. | ||
The Company has evaluated subsequent events through the date these consolidated financial statements were issued and has included all necessary disclosures. | ||
Use of estimates | ||
The preparation of financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of revenues, expenses, assets, liabilities, contingencies and noncontrolling interests subject to put provisions. Although actual results in subsequent periods will differ from these estimates, such estimates are developed based on the best information available to management and management’s best judgments at the time. All significant assumptions and estimates underlying the amounts reported in the financial statements and accompanying notes are regularly reviewed and updated when necessary. Changes in estimates are reflected in the financial statements based upon on-going actual experience trends, or subsequent settlements and realizations depending on the nature and predictability of the estimates and contingencies. Interim changes in estimates related to annual operating costs are applied prospectively within annual periods. | ||
The most significant assumptions and estimates underlying these financial statements and accompanying notes involve revenue recognition and accounts receivable, contingencies, impairments of long-lived assets including goodwill, valuation adjustments, accounting for income taxes, quarterly, annual and long-term variable compensation accruals, consolidation of variable interest entities, purchase accounting valuation estimates, other fair value estimates, stock-based compensation and medical liability claims. Specific estimating risks and contingencies are further addressed within these notes to the consolidated financial statements. | ||
Patient service net revenues and accounts receivable | ||
Patient service net revenues are recognized in the period services are provided. Revenues consist primarily of payments from Medicare, Medicaid and commercial health plans for dialysis and ancillary services provided to patients. A usual and customary fee schedule is maintained for the Company’s dialysis treatments and other patient services; however, actual collectible revenue is normally recognized at a discount from the fee schedule. | ||
Patient service revenues earned by HCP are recognized in the period services are provided, net of an estimated contractual allowance and are mainly attributable to primary care physician services and certain other specialty care services provided to patients. | ||
Revenues associated with Medicare and Medicaid programs are recognized based on: (a) the payment rates that are established by statute or regulation for the portion of payment rates paid by the government payor (e.g., 80% for Medicare patients) and (b) for the portion not paid by the primary government payor, estimates of the amounts ultimately collectible from other government programs paying secondary coverage (e.g., Medicaid secondary coverage), the patient’s commercial health plan secondary coverage, or the patient. The Company’s reimbursements from Medicare are subject to certain variations under Medicare’s single bundled payment rate system, whereby reimbursements can be adjusted for certain patient characteristics and other factors. The Company’s revenue recognition will depend upon its ability to effectively capture, document and bill for Medicare’s base payment rate as well as these other variable factors. | ||
Revenues associated with commercial health plans are estimated based on contractual terms for the patients under healthcare plans with which the Company has formal agreements, non-contracted health plan coverage terms if known, estimated secondary collections, historical collection experience, historical trends of refunds and payor payment adjustments (retractions), inefficiencies in the Company’s billing and collection processes that can result in denied claims for payments, and regulatory compliance matters. | ||
Commercial revenue recognition also involves significant estimating risks. With many larger, commercial insurers the Company has several different contracts and payment arrangements, and these contracts often include only a subset of the Company’s centers. It is often not possible to determine which contract, if any, should be applied prior to billing. In addition, for services provided by non-contracted centers, final collection may require specific negotiation of a payment amount, typically at a significant discount from the Company’s usual and customary rates. | ||
Under Medicare’s bundled payment rate system, services covered by Medicare are subject to estimating risk, whereby reimbursements from Medicare can vary significantly depending upon certain patient characteristics and other variable factors. Even with the bundled payment rate system, Medicare payments for bad debt claims as established by cost reports require evidence of collection efforts. As a result, billing and collection of Medicare bad debt claims can be delayed significantly and final payment is subject to audit. | ||
Medicaid payments, when Medicaid coverage is secondary, can also be difficult to estimate. For many states, Medicaid payment terms and methods differ from Medicare, and may prevent accurate estimation of individual payment amounts prior to billing. | ||
The Company’s range of revenue estimating risk for the dialysis and related lab services segment is generally expected to be within 1% of its revenue. Changes in revenue estimates for prior periods are not material. | ||
Capitated revenue | ||
HCP capitated revenue | ||
The Company’s associated medical groups are licensed to contract with health maintenance organizations (HMOs), to provide physician services in California under capitation contracts, and to provide both hospital and physician services under global risk capitation contracts in Florida, Nevada and Arizona. HCP’s revenues consist primarily of fees for medical services provided by these medical group entities’ payments from capitated contracts with various HMOs and revenues under risk-sharing programs. Capitation revenue under HMO contracts is prepaid monthly based on the number of enrollees electing physicians affiliated with one of the medical group entities as their health care provider, regardless of the level of actual medical services utilized. Capitation revenue is reported as revenue in the month in which enrollees are entitled to receive health care. A portion of the capitation revenue pertaining to Medicare enrollees is subject to possible retroactive premium risk adjustments based on their individual acuity. Due to lack of sufficient data to project the amount of such retroactive adjustments, the Company records any corresponding retroactive revenues in the year of receipt. | ||
Depending on the applicable state regulation regarding global risk capitation, revenues may be received by the Company or by an independent hospital with which the Company contracts under various managed care-related administrative services agreements. In the Florida, Nevada and Arizona service markets, the global capitation revenue is recorded by the Company with the corresponding cost of medical care reported by the Company as patient care costs. In California, the Company receives professional capitation and either the health plan retains the capitated revenues in a shared risk pool or the independent hospitals receive the institutional capitation revenues. The revenues are used to pay medical claims for the related enrollees. The Company is entitled to any residual amounts and bears the risk of any deficits. In all cases, an estimate is made for the cost of medical services that have been incurred and where no medical claim has been received (IBNR). | ||
Under risk-sharing programs, the medical groups share in the risk for hospitalization services and earn additional incentive revenues or incur penalties based on the utilization of hospital services. Estimated shared-risk receivables from the HMOs are recorded based upon hospital utilization and associated costs incurred by assigned HMO enrollees, including an estimate of IBNR compared to budgeted funding. Differences between actual contract settlements and estimated receivables or payables are recorded in the year of final settlement. The medical groups also receive other incentive payments from health plans based on specified performance and quality criteria. These amounts are accrued when earned and the amounts can be reasonably estimated, and are included in HCP’s capitated revenues. HCP recently obtained a restricted Knox-Keene license in California, which now permits HCP to enter into contracts with health plans allowing it to recognize revenue in 2014 under global capitation arrangements for both professional and institutional services. | ||
Other capitated revenues | ||
One of the Company’s subsidiaries operates a Medicare Advantage ESRD Special Needs Plan in partnership with a payor that works with CMS to provide ESRD patients full service health care. The Company is at risk for all medical costs of the program in excess of the capitation payments. | ||
Other revenues | ||
Other revenues consist of the non-patient service revenues associated with the ancillary services and strategic initiatives, management and administrative support services that are provided to outpatient dialysis centers that the Company does not own or in which the Company owns a minority equity interest, retail pharmacies and medical consulting services. The Company also provides administrative and management support services to a medical services joint venture in which the Company owns a 50% interest. Management fees are principally determined as a percentage of the managed operations’ revenues or cash collections and in some cases an additional component based upon a percentage of operating income. Management fees are included in net revenues when earned and represent less than 1% of total consolidated operating revenues. Revenues related to medical consulting services are recognized in the period services are provided. | ||
Allowance for uncollectible accounts | ||
Net revenue recognition and allowances for uncollectible billings require the use of estimates of the amounts that will ultimately be realized considering, among other items, retroactive adjustments that may be associated with regulatory reviews, audits, billing reviews and other matters. The Company’s policy is to write off any uncollectible accounts receivable balance only after all collection efforts have been exhausted or when write off is mandated by federal or state policies or required by certain payor contracts. It is also the Company’s policy to write off any accounts receivable balance associated with any payors or patients when the Company receives notification of a bankruptcy filing. | ||
Other income | ||
Other income includes interest income on cash investments and other non-operating gains from investment transactions. | ||
Cash and cash equivalents | ||
Cash equivalents are short-term highly liquid investments with maturities of three months or less at date of purchase. | ||
Inventories | ||
Inventories are stated at the lower of cost (first-in, first-out) or market and consist principally of pharmaceuticals and dialysis-related supplies. Rebates related to inventory purchases are recorded when earned and are based on certain qualification requirements which are dependent on a variety of factors including future pricing levels by the manufacturer and data submission. | ||
Funds on deposit with a third party | ||
The Company has established a risk sharing arrangement with a California hospital, wherein the Company shares in any surplus or deficit. One of the terms of this agreement is the establishment of a segregated investment fund to ensure adequate cash to pay IBNR. The Company and the hospital monitor the reserve balance to maintain the adequacy of funds on deposit. The Company has $81,276 in such funds as of December 31, 2014, in other current assets on the consolidated balance sheet. | ||
Property and equipment | ||
Property and equipment is stated at cost less accumulated depreciation and amortization and is further reduced by any impairments. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization expenses are computed using the straight-line method over the useful lives of the assets estimated as follows: buildings, 20 to 40 years; leasehold improvements, the shorter of their economic useful life or the expected lease term; and equipment and information systems, principally three to eight years. Disposition gains and losses are included in current operating expenses. | ||
Amortizable intangibles | ||
Amortizable intangible assets and liabilities include customer relationships, trade names, provider networks, supply agreements, practice management tools, non-competition and similar agreements, lease agreements, hospital acute services contracts and deferred debt financing costs, each of which have finite useful lives. Amortization expense is computed using the straight-line method over the useful lives of the assets estimated as follows: customer relationships, ten to twenty years; trade names, provider networks and practice management tools, two to fifteen years; non-competition and similar agreements, two to ten years; the alliance and product supply agreement, ten years; and lease agreements and hospital acute service contracts, over the term of the lease or contract period, respectively. Deferred debt financing costs are amortized to debt expense over the term of the related debt using the effective interest method. | ||
Investments | ||
Based upon the Company’s intentions and strategy concerning investments in debt and equity securities, the Company classifies certain debt securities as held-to-maturity and measures them at amortized cost. The Company classifies equity securities that have readily determinable fair values and certain other debt securities as available for sale and measures them at fair value. Unrealized gains or losses from available for sale investments are recorded in other comprehensive income until realized. | ||
Goodwill | ||
Goodwill represents the difference between the fair value of businesses acquired and the fair value of the identifiable tangible and intangible net assets acquired. Goodwill is not amortized, but is assessed for valuation impairment as circumstances may warrant and at least annually. An impairment charge would be recorded to the extent the carrying amount of goodwill exceeds its implied fair value. The Company operates several reporting units for goodwill impairment assessments. See Note 10 to the consolidated financial statements for further details. | ||
Impairment of long-lived assets | ||
Long-lived assets, including property and equipment, equity investments in non-consolidated businesses and amortizable intangible assets are reviewed for possible impairment whenever significant events or changes in circumstances indicate that an impairment may have occurred, including changes in the Company’s business strategy and plans, changes in the quality or structure of its relationships with its partners or deteriorating operating performance of individual outpatient dialysis centers or other operations. An impairment is indicated when the sum of the expected future undiscounted net cash flows identifiable to an asset group is less than its carrying amount. Impairment losses are measured based upon the difference between the actual or estimated fair values, which are based on market values, net realizable values or projections of discounted net cash flows, as appropriate, and the carrying amount of the asset. Impairment charges are included in operating expenses. Indefinite-lived intangible assets are reviewed for possible impairment at least annually and whenever significant events or changes in circumstances indicate that an impairment may have occurred. | ||
Self insurance | ||
The Company’s Kidney Care division maintains insurance reserves for professional and general liability and workers’ compensation in excess of certain individual and or aggregate amounts not covered by third-party carriers. The Company’s Kidney Care division estimates the self-insured retention portion of professional and general liability and workers’ compensation risks using third-party actuarial calculations that are based upon historical claims experience and expectations for future claims. In addition, HCP has purchased its primary professional and general liability insurance from California Medical Group Insurance (CMGI) in which the Company owns an equity interest of 67%. | ||
Medical liability costs | ||
The medical groups are responsible for integrated care that the associated physicians and contracted hospitals provide to assigned HMO enrollees. The Company provides integrated care to health plan enrollees through a network of contracted providers under sub-capitation and direct patient service arrangements, company-operated clinics and staff physicians. Medical costs for professional and institutional services rendered by contracted providers are recorded as patient care costs in the consolidated statements of income. Costs for operating medical clinics, including the salaries of medical and non-medical personnel and support costs, are also recorded in patient care costs. | ||
An estimate of amounts due to contracted physicians, hospitals, and other professional providers for members under global and professional risk arrangements is included in medical payables in the accompanying consolidated balance sheets. Medical payables include claims reported as of the balance sheet date and estimates of IBNR. Such estimates are developed using actuarial methods and are based on many variables, including the utilization of health care services, historical payment patterns, cost trends, product mix, seasonality, changes in membership, and other factors. The estimation methods and the resulting reserves are continually reviewed and updated. Many of the medical contracts are complex in nature and may be subject to differing interpretations regarding amounts due for the provision of various services. Such differing interpretations may not come to light until a substantial period of time has passed following the contract implementation. Any adjustments to reserves are reflected in current operations. | ||
Income taxes | ||
Federal and state income taxes are computed at currently enacted tax rates less tax credits using the asset and liability method. Deferred taxes are adjusted both for items that do not have tax consequences and for the cumulative effect of any changes in tax rates from those previously used to determine deferred tax assets or liabilities. Tax provisions include amounts that are currently payable, changes in deferred tax assets and liabilities that arise because of temporary differences between the timing of when items of income and expense are recognized for financial reporting and income tax purposes, changes in the recognition of tax positions and any changes in the valuation allowance caused by a change in judgment about the realizability of the related deferred tax assets. A valuation allowance is established when necessary to reduce deferred tax assets to amounts expected to be realized. | ||
The Company uses a recognition threshold of more-likely-than-not and a measurement attribute on all tax positions taken or expected to be taken in a tax return in order to be recognized in the financial statements. Once the recognition threshold is met, the tax position is then measured to determine the actual amount of benefit to recognize in the financial statements. | ||
Stock-based compensation | ||
The Company’s stock-based compensation awards are measured at their estimated fair values on the date of grant if settled in shares or at their estimated fair values at the end of each reporting period if settled in cash. The value of stock-based awards so measured is recognized as compensation expense on a cumulative straight-line basis over the vesting terms of the awards, adjusted for expected forfeitures. Stock-based compensation to be settled in shares is recorded to the Company’s shareholders’ equity, while stock-based compensation to be settled in cash is recorded to a liability. | ||
Interest rate swap and cap agreements | ||
The Company has several interest rate swap agreements as a means of hedging its exposure to and volatility from LIBOR variable-based interest rate changes as part of its overall interest rate risk management strategy. These agreements are designated as cash flow hedges and are not held for trading or speculative purposes. The swap agreements have the economic effect of converting the majority of the LIBOR variable component of the Company’s interest rate to fixed rates on the Company’s Term Loan A outstanding balances. In addition, the Company has several interest rate cap agreements that have the economic effect of capping the Company’s maximum exposure to LIBOR variable interest rate changes on specific portions of the Company’s Term Loan B totaling $2,735,000. The Company also maintains several forward interest rate cap agreements with notional amounts totaling $3,500,000 that will be effective September 30, 2016 and will have economic effect of capping the LIBOR variable component of the Company’s interest rate at a maximum of 3.50% on an equivalent of the Company’s debt. See Note 14 to the consolidated financial statements for further details. | ||
Noncontrolling interests | ||
Noncontrolling interests represent third-party minority equity ownership interests in consolidated entities which are majority-owned by the Company, as well as the equity ownership interests in entities that are not owned by the Company but which are consolidated for financial statement reporting purposes. As of December 31, 2014, third parties held noncontrolling ownership interests in approximately 380 consolidated legal entities. | ||
Fair value estimates | ||
The Company currently measures the fair value of certain assets, liabilities (including contingent earn-out consideration) and noncontrolling interests subject to put provisions (temporary equity) based upon certain valuation techniques that include observable or unobservable market inputs and assumptions that market participants would use in pricing these assets, liabilities and temporary equity. The Company has also classified its assets, liabilities and temporary equity into the appropriate fair value hierarchy levels as defined by the FASB. See Note 24 to the consolidated financial statements for further details. | ||
New accounting standards | ||
On January 1, 2013, the Company adopted the Financial Accounting Standards Boards (FASB) ASU No. 2013-02 Comprehensive Income. This standard requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. See Note 20 to the consolidated financial statements for further details. | ||
In July 2013, the FASB issued ASU No. 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. This standard amends the acceptable benchmark interest rates to permit the inclusion of the Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark interest rate for hedge accounting purposes in addition to U.S. government (UST) and LIBOR. The amendment also removes the restriction on using different benchmark rates for similar hedges. This standard is applied prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. | ||
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in the ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in U.S. GAAP. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. Early adoption is permitted. The adoption of this standard will not have a material impact on the Company’s consolidated financial statements. | ||
In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | ||
Earnings_per_share
Earnings per share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings per share | 2 | Earnings per share | |||||||||||
Basic net income per share is calculated by dividing net income attributable to the Company adjusted for any change in noncontrolling interest redemption rights in excess of fair value, by the weighted average number of common shares and vested stock units outstanding, net of shares held in escrow that under certain circumstances may be returned to the Company. | |||||||||||||
Diluted net income per share includes the dilutive effect of outstanding stock-settled stock appreciation rights (SSARs), stock options and unvested stock units (under the treasury stock method) as well as shares held in escrow that the Company expects will remain outstanding. | |||||||||||||
The reconciliations of the numerators and denominators used to calculate basic and diluted net income per share are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
(shares in thousands) | |||||||||||||
Basic: | |||||||||||||
Income from continuing operations attributable to DaVita HealthCare | $ | 723,114 | $ | 620,197 | $ | 536,236 | |||||||
Partners Inc. | |||||||||||||
Discontinued operations attributable to DaVita HealthCare Partners Inc. | — | 13,249 | (219 | ) | |||||||||
Net income attributable to DaVita HealthCare Partners Inc. for basic | $ | 723,114 | $ | 633,446 | $ | 536,017 | |||||||
earnings per share calculation | |||||||||||||
Weighted average shares outstanding during the period | 214,496 | 212,128 | 192,396 | ||||||||||
Vested stock units | — | 5 | 6 | ||||||||||
Contingently returnable shares held in escrow for the DaVita HealthCare | (2,194 | ) | (2,194 | ) | (366 | ) | |||||||
Partners merger | |||||||||||||
Weighted average shares for basic earnings per share calculation | 212,302 | 209,939 | 192,036 | ||||||||||
Basic income from continuing operations per share attributable to | $ | 3.41 | $ | 2.95 | $ | 2.79 | |||||||
DaVita HealthCare Partners Inc. | |||||||||||||
Basic income from discontinued operations per share attributable | — | 0.07 | — | ||||||||||
to DaVita HealthCare Partners Inc. | |||||||||||||
Basic net income per share attributable to DaVita HealthCare | $ | 3.41 | $ | 3.02 | $ | 2.79 | |||||||
Partners Inc. | |||||||||||||
Diluted: | |||||||||||||
Income from continuing operations attributable to DaVita | $ | 723,114 | $ | 620,197 | $ | 536,236 | |||||||
HealthCare Partners Inc. | |||||||||||||
Discontinued operations attributable to DaVita HealthCare Partners Inc. | — | 13,249 | (219 | ) | |||||||||
Net income attributable to DaVita HealthCare Partners Inc. for | $ | 723,114 | $ | 633,446 | $ | 536,017 | |||||||
diluted earnings per share calculation | |||||||||||||
Weighted average shares outstanding during the period | 214,496 | 212,128 | 192,396 | ||||||||||
Vested stock units | — | 5 | 6 | ||||||||||
Assumed incremental shares from stock plans | 2,432 | 2,631 | 3,540 | ||||||||||
Weighted average shares for diluted earnings per share calculation | 216,928 | 214,764 | 195,942 | ||||||||||
Diluted income from continuing operations per share attributable | $ | 3.33 | $ | 2.89 | $ | 2.74 | |||||||
to DaVita HealthCare Partners Inc. | |||||||||||||
Diluted income from discontinued operations per share attributable to | — | 0.06 | — | ||||||||||
DaVita HealthCare Partners Inc. | |||||||||||||
Diluted net income per share attributable to DaVita HealthCare | $ | 3.33 | $ | 2.95 | $ | 2.74 | |||||||
Partners Inc. | |||||||||||||
Anti-dilutive stock-settled awards excluded from calculation(1) | 1,715 | 4,194 | 2,616 | ||||||||||
-1 | Shares associated with stock-settled stock appreciation rights and stock options excluded from the diluted denominator calculation because they are anti-dilutive under the treasury stock method. |
Accounts_receivable
Accounts receivable | 12 Months Ended | |
Dec. 31, 2014 | ||
Receivables [Abstract] | ||
Accounts receivable | 3 | Accounts receivable |
Approximately 12% and 14% of the Company’s accounts receivable balances as of December 31, 2014 and 2013, respectively, were more than six months old, and there were no significant balances over one year old. Accounts receivable are principally from Medicare and Medicaid programs and commercial insurance plans. | ||
Accounts receivable are reduced by an allowance for doubtful accounts. In evaluating the ultimate collectability of its accounts receivable, the Company analyzes its historical cash collection experience and trends for each of its government payors and commercial payors to estimate the adequacy of the allowance for doubtful accounts and the amount of the provision for uncollectible accounts. Management regularly updates its analysis based upon the most recent information available to it to determine its current provision for uncollectible accounts and the adequacy of its allowance for doubtful accounts. For receivables associated with dialysis patient services covered by government payors, like Medicare, the Company receives 80% of the payment directly from Medicare as established under the government’s bundled payment system and determines an appropriate allowance for doubtful accounts and provision for uncollectible accounts on the remaining balance due depending upon the Company’s estimate of the amounts ultimately collectible from other secondary coverage sources or from the patients. For receivables associated with services to patients covered by commercial payors that are either based upon contractual terms or for non-contracted health plan coverage, the Company provides an allowance for doubtful accounts by recording a provision for uncollectible accounts based upon its historical collection experience, potential inefficiencies in its billing processes and for which collectability is determined to be unlikely. Approximately 1% of the Company’s net accounts receivable are associated with patient pay and it is the Company’s policy to reserve 100% of the outstanding accounts receivable balances for dialysis services when those amounts due are outstanding for more than four months. | ||
During the year ended December 31, 2014, the Company’s allowance for doubtful accounts increased by $5,531. The increase in 2014 was primarily due to an increase in the provision for uncollectible accounts due to an increase in the write-offs of Medicare secondary billings. During the year ended December 31, 2013, the Company’s allowance for doubtful accounts decreased by $7,979. The decrease in 2013 was primarily due to an increase in the timing of non-covered Medicare write-offs during the period in the Company’s U.S. dialysis business. There were no unusual non-acquisition transactions impacting the allowance for doubtful accounts. |
Other_receivables
Other receivables | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Other receivables | 4 | Other receivables | |||||||
Other receivables were comprised of the following: | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Supplier rebates and non-trade receivables | $ | 265,693 | $ | 217,100 | |||||
Medicare bad debt claims | 118,504 | 110,825 | |||||||
Operating advances under management and administrative | 16,719 | 21,165 | |||||||
services agreements | |||||||||
$ | 400,916 | $ | 349,090 | ||||||
Operating advances under management and administrative services agreements are generally unsecured. | |||||||||
Other_current_assets
Other current assets | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |||||||||
Other current assets | 5 | Other current assets | |||||||
Other current assets consist principally of prepaid expenses and funds on deposit with third parties. | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Prepaid expenses | $ | 102,466 | $ | 93,877 | |||||
Funds on deposit with third parties | 81,276 | 79,317 | |||||||
Other | 3,100 | 3,220 | |||||||
$ | 186,842 | $ | 176,414 | ||||||
Property_and_equipment
Property and equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property Plant And Equipment [Abstract] | |||||||||
Property and equipment | 6 | Property and equipment | |||||||
Property and equipment were comprised of the following: | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Land | $ | 35,885 | $ | 34,960 | |||||
Buildings | 157,550 | 157,998 | |||||||
Leasehold improvements | 2,002,735 | 1,762,470 | |||||||
Equipment and information systems | 2,066,775 | 1,839,981 | |||||||
New center and capital asset projects in progress | 235,660 | 172,261 | |||||||
4,498,605 | 3,967,670 | ||||||||
Less accumulated depreciation | (2,029,506 | ) | (1,778,259 | ) | |||||
$ | 2,469,099 | $ | 2,189,411 | ||||||
Depreciation expense on property and equipment was $428,309, $373,107 and $299,810 for 2014, 2013 and 2012, respectively. | |||||||||
Interest on debt incurred during the development of new centers and other capital asset projects is capitalized as a component of the asset cost based on the respective in-process capital asset balances. Interest capitalized was $7,888, $6,408 and $8,126 for 2014, 2013 and 2012, respectively. |
Intangibles
Intangibles | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||
Intangibles | 7 | Intangibles | |||||||||||||||||||||||||||
Intangible assets were comprised of the following: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Customer relationships | $ | 1,575,865 | $ | 1,503,426 | |||||||||||||||||||||||||
Trade names | 171,168 | 170,994 | |||||||||||||||||||||||||||
Provider network and practice management tools | 183,688 | 184,558 | |||||||||||||||||||||||||||
Noncompetition and other agreements | 506,867 | 495,475 | |||||||||||||||||||||||||||
Lease agreements | 7,982 | 8,889 | |||||||||||||||||||||||||||
Deferred debt financing costs | 101,001 | 121,872 | |||||||||||||||||||||||||||
Indefinite-lived assets | 24,818 | 22,932 | |||||||||||||||||||||||||||
2,571,389 | 2,508,146 | ||||||||||||||||||||||||||||
Less accumulated amortization | (621,891 | ) | (483,773 | ) | |||||||||||||||||||||||||
Total intangible assets | $ | 1,949,498 | $ | 2,024,373 | |||||||||||||||||||||||||
Amortization expense from amortizable intangible assets, other than lease agreements and deferred debt financing costs, was $167,956, $160,960 and $47,489 for 2014, 2013 and 2012, respectively. Deferred debt financing costs were amortized to debt expense as described in Note 14 to these consolidated financial statements. Lease agreement intangible assets and liabilities were amortized to rent expense in the amounts of $(1,798), $(1,447) and $103 for 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Amortizable intangible liabilities were comprised of the following: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Alliance and product supply agreement commitment | $ | 68,200 | $ | 68,200 | |||||||||||||||||||||||||
(See Note 18) | |||||||||||||||||||||||||||||
Less accumulated amortization | (64,203 | ) | (58,873 | ) | |||||||||||||||||||||||||
Net Alliance and product supply agreement | 3,997 | 9,327 | |||||||||||||||||||||||||||
Lease agreements (net of accumulated amortization of $4,785 | 10,407 | 12,563 | |||||||||||||||||||||||||||
and $2,628) | |||||||||||||||||||||||||||||
$ | 14,404 | $ | 21,890 | ||||||||||||||||||||||||||
Amortization benefit recognized from the alliance and product supply agreement was $5,330 each for 2014, 2013 and 2012, respectively. Lease agreement intangible liabilities are classified in other long-term liabilities and amortized to rent expense. | |||||||||||||||||||||||||||||
Scheduled amortization charges from amortizable intangible assets and liabilities as of December 31, 2014 were as follows: | |||||||||||||||||||||||||||||
Customer | Trade | Provider | Noncompetition | Lease | Deferred | Alliance and | |||||||||||||||||||||||
relationships | names | network and | and other | agreements, net | debt | product | |||||||||||||||||||||||
practice | agreements | financing | supply | ||||||||||||||||||||||||||
management | costs | agreement | |||||||||||||||||||||||||||
tools | liability | ||||||||||||||||||||||||||||
2015 | 82,619 | 16,429 | 26,229 | 40,482 | (2,107 | ) | 13,279 | (3,997 | ) | ||||||||||||||||||||
2016 | 82,704 | 16,429 | 26,179 | 30,172 | (1,506 | ) | 13,129 | — | |||||||||||||||||||||
2017 | 82,686 | 16,418 | 26,243 | 28,563 | (1,185 | ) | 12,976 | — | |||||||||||||||||||||
2018 | 82,640 | 16,364 | 26,266 | 18,429 | (849 | ) | 12,683 | — | |||||||||||||||||||||
2019 | 82,407 | 16,364 | 22,542 | 13,984 | (789 | ) | 10,636 | — | |||||||||||||||||||||
Thereafter | 991,862 | 53,961 | 526 | 39,242 | (3,971 | ) | 22,237 | — | |||||||||||||||||||||
Equity_investments_and_other_i
Equity investments and other investments | 12 Months Ended | |
Dec. 31, 2014 | ||
Investments Debt And Equity Securities [Abstract] | ||
Equity investments and other investments | 8 | Equity investments and other investments |
Equity investments in non-consolidated businesses were $65,637 and $40,686 at December 31, 2014 and 2013, respectively. During 2014, 2013 and 2012, the Company recognized income of $23,234, $34,558 and $16,377, respectively, relating to equity investments in non-consolidated businesses under the equity method of accounting. In 2014 and 2013, the Company’s equity method investment income included $9,480 and $22,758, respectively, of equity income from HCP’s equity investments. During 2013, the Company purchased $5,000 of preferred stock in a privately held company that is accounted for under the cost method as this investment does not have a readily determinable fair value. | ||
Investments_in_debt_and_equity
Investments in debt and equity securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in debt and equity securities | 9 | Investments in debt and equity securities | |||||||||||||||||||||||
Based on the Company’s intentions and strategy concerning investments in debt securities, the Company classifies certain debt securities as held-to-maturity and records them at amortized cost. Equity securities that have readily determinable fair values including those of mutual funds and other debt securities are classified as available for sale and recorded at fair value. | |||||||||||||||||||||||||
The Company’s investments in securities consist of the following: | |||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
Held to | Available | Total | Held to | Available | Total | ||||||||||||||||||||
maturity | for sale | maturity | for sale | ||||||||||||||||||||||
Certificates of deposit and money market funds due | $ | 335,975 | $ | — | $ | 335,975 | $ | 5,601 | $ | — | $ | 5,601 | |||||||||||||
within one year | |||||||||||||||||||||||||
Investments in mutual funds and common stock | — | 28,123 | 28,123 | — | 19,421 | 19,421 | |||||||||||||||||||
$ | 335,975 | $ | 28,123 | $ | 364,098 | $ | 5,601 | $ | 19,421 | $ | 25,022 | ||||||||||||||
Short-term investments | $ | 335,975 | $ | 1,424 | $ | 337,399 | $ | 5,601 | $ | 1,200 | $ | 6,801 | |||||||||||||
Long-term investments | — | 26,699 | 26,699 | — | 18,221 | 18,221 | |||||||||||||||||||
$ | 335,975 | $ | 28,123 | $ | 364,098 | $ | 5,601 | $ | 19,421 | $ | 25,022 | ||||||||||||||
The cost of certificates of deposit and money market funds at December 31, 2014 and 2013 approximate their fair value. As of December 31, 2014 and 2013, available for sale investments included $5,181 and $5,096, respectively, of gross pre-tax unrealized gains. During 2014 and 2013 the Company recorded gross pre-tax unrealized gains of $425 and $3,752, respectively, in other comprehensive income associated with changes in the fair value of these investments. During 2014, the Company sold investments in mutual funds for net proceeds of $1,262, and recognized a pre-tax gain of $340, or $207 after tax, that was previously recorded in other comprehensive income. During 2013, the Company sold investments in mutual funds for net proceeds of $4,158, and recognized a pre-tax gain of $802, or $490 after tax, that was previously recorded in other comprehensive income. | |||||||||||||||||||||||||
Investments in mutual funds classified as available for sale are held within a trust to fund existing obligations associated with several of the Company’s non-qualified deferred compensation plans. | |||||||||||||||||||||||||
Goodwill
Goodwill | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Goodwill | 10 | Goodwill | |||||||||||||||
Changes in the value of goodwill by reportable segments were as follows: | |||||||||||||||||
U.S. dialysis and | HCP | Other ancillary | Consolidated total | ||||||||||||||
related lab services | services and | ||||||||||||||||
strategic initiatives | |||||||||||||||||
Balance at January 1, 2013 | $ | 5,309,152 | $ | 3,506,571 | $ | 137,027 | $ | 8,952,750 | |||||||||
Acquisitions | 163,037 | 17,833 | 90,397 | $ | 271,267 | ||||||||||||
Divestitures | (2,728 | ) | — | — | $ | (2,728 | ) | ||||||||||
Other adjustments | 12 | (8,242 | ) | (85 | ) | $ | (8,315 | ) | |||||||||
Balance at December 31, 2013 | $ | 5,469,473 | $ | 3,516,162 | $ | 227,339 | $ | 9,212,974 | |||||||||
Acquisitions | 143,021 | 48,649 | 29,844 | $ | 221,514 | ||||||||||||
Divestitures | (1,851 | ) | — | — | $ | (1,851 | ) | ||||||||||
Foreign currency and other adjustments | — | (2,277 | ) | (15,065 | ) | $ | (17,342 | ) | |||||||||
Balance at December 31, 2014 | $ | 5,610,643 | $ | 3,562,534 | $ | 242,118 | $ | 9,415,295 | |||||||||
Each of the Company’s operating segments described in Note 25 to these consolidated financial statements represents an individual reporting unit for goodwill impairment testing purposes, except that each sovereign jurisdiction within our international operating segments is considered a separate reporting unit. | |||||||||||||||||
Within the U.S. dialysis and related lab services operating segment, the Company considers each of its dialysis centers to constitute an individual business for which discrete financial information is available. However, since these dialysis centers have similar operating and economic characteristics, and the allocation of resources and significant investment decisions concerning these businesses are highly centralized and the benefits broadly distributed, the Company has aggregated these centers and deemed them to constitute a single reporting unit. | |||||||||||||||||
The Company has applied a similar aggregation to the HCP operations in each region, to the vascular access service centers in its vascular access services reporting unit, to the physician practices in its physician services reporting unit, and to the dialysis centers within each sovereign international jurisdiction. For the Company’s additional operating segments, no component below the operating segment level is considered a discrete business and therefore these operating segments directly constitute individual reporting units. | |||||||||||||||||
HCP’s current and expected future operating results have eroded, primarily as a result of recent reductions in its Medicare Advantage reimbursement rates. As a result, the Company has determined that three of HCP’s reporting units, HCP California, HCP Nevada and HCP New Mexico, continue to be at risk of a goodwill impairment. HCP California, HCP Nevada and HCP New Mexico have goodwill of $2,511,477, $517,618, and $72,130, respectively. | |||||||||||||||||
The Company’s annual goodwill impairment assessment date for its HCP reporting units is November 1. The Company obtained third-party valuations of these three businesses as of November 1, 2014, noting that the estimated fair values of HCP California, HCP Nevada and HCP New Mexico exceeded their total carrying values by approximately 5.6%, 12.4% and 9.7%, respectively. There were no major changes in the business, prospects, or expected future results of these HCP reporting units from November 1 to December 31, 2014. Further reductions in HCP’s reimbursement rates or other significant adverse changes in its expected future cash flows or valuation assumptions could result in a goodwill impairment charge in the future. | |||||||||||||||||
For example, a sustained, long-term reduction of 3% in operating income for HCP California, HCP Nevada and HCP New Mexico could reduce their estimated fair values by up to 2.5%, 2.8% and 3.0%, respectively. Separately, an increase in their respective discount rates of 100 basis points could reduce the estimated fair values of HCP California, HCP Nevada and HCP New Mexico by up to 5.3%, 5.9% and 6.3%, respectively. | |||||||||||||||||
During 2014, the Company recorded an immaterial goodwill impairment charge related to its international operations. During 2013, the Company did not record any goodwill impairment charges. Except as described above, none of the goodwill associated with the Company’s various other reporting units was considered at risk of impairment as of December 31, 2014. Since the dates of the Company’s last annual goodwill impairment tests, there have been certain developments, events, changes in operating performance and other changes in key circumstances that have affected the Company’s businesses. However, these did not cause management to believe it is more likely than not that the fair value of any of its reporting units would be less than its carrying amount. |
Other_liabilities
Other liabilities | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Other Liabilities Disclosure [Abstract] | |||||||||
Other liabilities | 11 | Other liabilities | |||||||
Other liabilities were comprised of the following: | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Payor refunds and retractions | $ | 125,435 | $ | 169,480 | |||||
Contingent earn-out consideration | 15,614 | 6,577 | |||||||
Insurance and self-insurance accruals | 92,928 | 84,882 | |||||||
Accrued interest | 87,224 | 45,662 | |||||||
Other medical payables | 39,867 | 31,219 | |||||||
Accrued non-income tax liabilities | 25,909 | 18,366 | |||||||
Interest rate swap agreements | 1,457 | 12,069 | |||||||
Other | 118,145 | 96,167 | |||||||
$ | 506,579 | $ | 464,422 | ||||||
Medical_payables
Medical payables | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Health Care Organizations [Abstract] | |||||||||
Medical payables | 12 | Medical payables | |||||||
The health care costs shown in the following table include estimates for the cost of professional medical services provided by non-employed physicians and other providers, as well as inpatient and other ancillary costs for all markets, other than California, where state regulation allows for the assumption of global risk. Health care costs payable are included in medical payables. | |||||||||
The following table shows the components of changes in the health care costs payable for the year ended December 31, 2014 and 2013: | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Health care costs payable, beginning of the year | $ | 172,310 | $ | 119,512 | |||||
Acquisitions and other adjustments | — | 26,575 | |||||||
Add: Components of incurred health care costs | |||||||||
Current year | 1,572,723 | 1,329,887 | |||||||
Prior years | 3,429 | (16,587 | ) | ||||||
Total incurred health care costs | 1,576,152 | 1,313,300 | |||||||
Less: Claims paid | |||||||||
Current year | 1,378,137 | 1,169,455 | |||||||
Prior years | 155,920 | 117,622 | |||||||
Total claims paid | 1,534,057 | 1,287,077 | |||||||
Health care costs payable, end of the year | $ | 214,405 | $ | 172,310 | |||||
The Company’s prior year estimates of health care costs payable increased (decreased) by $3,429 in 2014 and $(16,587) in 2013, respectively. The increase in 2014 resulted from certain medical claims being settled for amounts more than originally estimated. When significant (decreases) increases in prior-year health care cost estimates occur that the Company believes significantly impacts its current year operating results, the Company discloses that amount as (favorable) unfavorable development of prior-year’s health care cost estimates. Actual claim payments for prior year services have not been materially different from the Company’s year-end estimates. |
Income_taxes
Income taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income taxes | 13 | Income taxes | |||||||||||
The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. | |||||||||||||
Income tax expense (benefit) consisted of the following: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | 188,302 | $ | 334,258 | $ | 239,232 | |||||||
State | 30,789 | 68,715 | 49,178 | ||||||||||
International | 1,687 | 1,764 | 660 | ||||||||||
Total current income tax | $ | 220,778 | $ | 404,737 | $ | 289,070 | |||||||
Deferred: | |||||||||||||
Federal | 192,267 | (6,695 | ) | 64,195 | |||||||||
State | 32,360 | (8,941 | ) | 6,498 | |||||||||
International | 938 | 746 | — | ||||||||||
Total deferred income tax | $ | 225,565 | $ | (14,890 | ) | $ | 70,693 | ||||||
$ | 446,343 | $ | 389,847 | $ | 359,763 | ||||||||
The allocation of income tax expense (benefit) was as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Continuing operations | $ | 446,343 | $ | 381,013 | $ | 359,845 | |||||||
Discontinued operations | — | (84 | ) | (82 | ) | ||||||||
Gain on discontinued operations | — | 8,918 | — | ||||||||||
$ | 446,343 | $ | 389,847 | $ | 359,763 | ||||||||
The reconciliation between the Company’s effective tax rate from continuing operations and the U.S. federal income tax rate is as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal benefit | 3.5 | 3.8 | 4 | ||||||||||
International rate differential | (0.2 | ) | 0.1 | — | |||||||||
Changes in deferred tax valuation allowances | 0.6 | 0.3 | — | ||||||||||
Contingent earn-out adjustments | — | (2.6 | ) | — | |||||||||
Other | (0.8 | ) | 1.4 | 1.1 | |||||||||
Impact of noncontrolling interests primarily attributable to non-tax paying entities | (4.0 | ) | (4.1 | ) | (4.2 | ) | |||||||
Effective tax rate | 34.1 | % | 33.9 | % | 35.9 | % | |||||||
The Company has not recognized any deferred taxes for the undistributed earnings of its foreign subsidiaries because the Company currently expects those earnings to be permanently reinvested. Determination of the amount of unrecognized deferred taxes related to undistributed earnings of foreign subsidiaries is not practicable because such liability, if any, is dependent on circumstances that will exist if and when remittance occurs. | |||||||||||||
Deferred tax assets and liabilities arising from temporary differences associated with continuing operations were as follows: | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Receivables | $ | 42,973 | $ | 49,667 | |||||||||
Accrued liabilities | 253,158 | 252,008 | |||||||||||
Loss contingency reserve | 1,423 | 139,844 | |||||||||||
Net operating loss carryforwards | 100,768 | 96,212 | |||||||||||
Other | 88,435 | 67,882 | |||||||||||
Deferred tax assets | 486,757 | 605,613 | |||||||||||
Valuation allowance | (26,667 | ) | (13,860 | ) | |||||||||
Net deferred tax assets | 460,090 | 591,753 | |||||||||||
Intangible assets | (835,816 | ) | (752,838 | ) | |||||||||
Property and equipment | (187,054 | ) | (183,059 | ) | |||||||||
Investments in partnerships | (78,618 | ) | (51,921 | ) | |||||||||
Other | (8,677 | ) | (6,913 | ) | |||||||||
Deferred tax liabilities | (1,110,165 | ) | (994,731 | ) | |||||||||
Net deferred tax liabilities | $ | (650,075 | ) | $ | (402,978 | ) | |||||||
At December 31, 2014, the Company had federal net operating loss carryforwards of approximately $203,282 that expire through 2034, although a substantial amount expire by 2028. The Company also had state net operating loss carryforwards of $568,286 that expire through 2034 and international net operating loss carryforwards of $55,436, some of which have an indefinite life. The utilization of a portion of these losses may be limited in future years based on the profitability of certain entities. The valuation allowance increase of $12,807 is primarily due to the realizability of losses in certain foreign and state jurisdictions. | |||||||||||||
Unrecognized tax benefits | |||||||||||||
A reconciliation of the beginning and ending liability for unrecognized tax benefits that do not meet the more-likely-than-not threshold were as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Balance beginning | $ | 60,538 | $ | 67,546 | |||||||||
Additions for tax positions related to current year | 914 | 6,005 | |||||||||||
Reductions for tax positions related to prior years | (27,312 | ) | (3,901 | ) | |||||||||
Reductions related to lapse of applicable statute | (2,077 | ) | (8,480 | ) | |||||||||
Reductions related to settlements with taxing authorities | (186 | ) | (632 | ) | |||||||||
Balance ending | $ | 31,877 | $ | 60,538 | |||||||||
As of December 31, 2014, the Company’s total liability for unrecognized tax benefits relating to tax positions that do not meet the more-likely-than-not threshold is $31,877, all of which would impact the Company’s effective tax rate if recognized. This balance represents a decrease of $28,661 from the December 31, 2013 balance of $60,538, of which $27,427 is due to a change of accounting method for income tax reporting and did not impact the Company’s effective tax rate. | |||||||||||||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits in its income tax expense. At December 31, 2014 and 2013, the Company had approximately $10,123 and $10,742, respectively, accrued for interest and penalties related to unrecognized tax benefits, net of federal tax benefit. | |||||||||||||
The Company and its subsidiaries file U.S. federal and state income tax returns and various international income tax returns. The Company is no longer subject to U.S. federal and state examinations by tax authorities for years before 2011 and 2008, respectively. |
Longterm_debt
Long-term debt | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||
Long-term debt | 14 | Long-term debt | |||||||||||||||||||||||||
Long-term debt was comprised of the following: | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||
Senior Secured Credit Facilities: | |||||||||||||||||||||||||||
Term Loan A | $ | 975,000 | $ | 800,000 | |||||||||||||||||||||||
Term Loan A-3 | — | 1,282,500 | |||||||||||||||||||||||||
Term Loan B | 3,482,500 | 1,697,500 | |||||||||||||||||||||||||
Term Loan B-2 | — | 1,633,500 | |||||||||||||||||||||||||
Senior notes | 3,775,000 | 2,800,000 | |||||||||||||||||||||||||
Acquisition obligations and other notes payable | 69,045 | 67,352 | |||||||||||||||||||||||||
Capital lease obligations | 218,097 | 152,751 | |||||||||||||||||||||||||
Total debt principal outstanding | 8,519,642 | 8,433,603 | |||||||||||||||||||||||||
Discount on long-term debt | (16,208 | ) | (17,675 | ) | |||||||||||||||||||||||
8,503,434 | 8,415,928 | ||||||||||||||||||||||||||
Less current portion | (120,154 | ) | (274,697 | ) | |||||||||||||||||||||||
$ | 8,383,280 | $ | 8,141,231 | ||||||||||||||||||||||||
Scheduled maturities of long-term debt at December 31, 2014 were as follows: | |||||||||||||||||||||||||||
2015 | 120,154 | ||||||||||||||||||||||||||
2016 | 117,193 | ||||||||||||||||||||||||||
2017 | 144,161 | ||||||||||||||||||||||||||
2018 | 155,750 | ||||||||||||||||||||||||||
2019 | 730,084 | ||||||||||||||||||||||||||
Thereafter | 7,252,300 | ||||||||||||||||||||||||||
Term Loans | |||||||||||||||||||||||||||
Total outstanding borrowings under Term Loan A and Term Loan B can consist of various individual tranches that can range in maturity from one month to twelve months (currently all tranches are one month in duration). Each tranche for the Term Loan A bears interest at a London Interbank Offered Rate (LIBOR) rate determined by the duration of such tranche plus an interest rate margin, currently 1.75%. The LIBOR variable component of the interest rate for each tranche is reset as such tranche matures and a new tranche is established. At December 31, 2014, the overall weighted average interest rate for the Term Loan A was determined based upon the LIBOR interest rates in effect for all of the individual tranches plus the interest rate margin. The Company has several interest rate swap agreements that have the economic effect of fixing the majority of the Term Loan A LIBOR variable component of the Company’s interest rate, as described below. At December 31, 2014, the Term Loan B bears interest at LIBOR (floor of 0.75%) plus a margin of 2.75%. The Company is subject to a LIBOR-based floor until such time as the LIBOR-based component of the interest rate exceeds 0.75% on the Term Loan B. At such time, the Company will then be subject to LIBOR-based interest rate volatility on the LIBOR variable component of its interest rate and the overall weighted average interest rate for the Term Loan B will then be determined based upon the LIBOR interest rates in effect for all individual tranches plus the interest rate margin. The Company has several interest rate cap agreements that have the economic effect of capping the LIBOR variable component of the Company’s interest rate at a maximum of 2.50% on $2,735,000 of outstanding principal debt. The remaining $747,500 outstanding principal balance of the Term Loan B would still be subject to LIBOR-based interest rate volatility above a floor of 0.75%. In addition, the Company maintains several forward interest rate cap agreements with notional amounts totaling $3,500,000 that will be effective September 30, 2016 and will have the economic effect of capping the LIBOR variable component of the Company’s interest rate at a maximum of 3.50% on an equivalent amount of the Company’s debt. See below for further details. | |||||||||||||||||||||||||||
During the year ended December 31, 2014, the Company made mandatory principal payments under its then existing Senior Secured Credit Facilities (before entering into a new senior secured credit agreement and repaying all outstanding amounts under the then existing Senior Secured Credit Facilities, as discussed below) totaling $37,500 on the Term Loan A, $16,875 on the Term Loan A-3, $4,375 on the Term Loan B and $4,125 on the Term Loan B-2. During the third and fourth quarters of 2014, the Company made mandatory principal payments under its New Senior Secured Credit Facility (the New Credit Agreement), as described below, totaling $25,000 on the New Term Loan A and $17,500 on the New Term Loan B. | |||||||||||||||||||||||||||
In 2013, the Company made principal payments totaling $100,000 on the Term Loan A, $67,500 on the Term Loan A-3, $17,500 on the Term Loan B and $16,500 on the Term Loan B-2. | |||||||||||||||||||||||||||
Revolving lines of credit | |||||||||||||||||||||||||||
The Company has an undrawn revolving line under the Senior Secured Credit Facilities totaling $1,000,000, of which approximately $95,000 was committed for outstanding letters of credit. In addition, the Company has approximately $1,000 of committed outstanding letters of credit related to HCP, which is backed by a certificate of deposit. | |||||||||||||||||||||||||||
Senior Notes | |||||||||||||||||||||||||||
The Company’s senior notes as of December 31, 2014 , consisted of $1,750,000 5 1/8% senior notes due 2024, as described below, $775,000 of 6 5/8% senior notes due 2020 and $1,250,000 of 5 3/4% senior notes due 2022. | |||||||||||||||||||||||||||
In addition, the $775,000 6⅝% senior notes and the $1,250,000 5¾% senior notes are also unsecured obligations and will rank equally in right of payment with the Company’s existing and future unsecured senior indebtedness. These senior notes are guaranteed by substantially all of the Company’s direct and indirect wholly-owned domestic subsidiaries and require semi-annual interest payments. The Company may redeem some or all of the senior notes at any time on or after certain specific dates and at certain specific redemption prices as outlined in each senior note agreement. | |||||||||||||||||||||||||||
Senior Secured Credit Facility, 51/8% Senior Notes and 6 ⅜% Senior Notes | |||||||||||||||||||||||||||
In June 2014, the Company entered into a $5,500,000 senior secured credit agreement. The New Credit Agreement consists of a five year Revolving Credit Facility in the aggregate principal amount of $1,000,000 (the New Revolver), a five year Term Loan A facility in the aggregate principal amount of $1,000,000 (the New Term Loan A) and a seven year Term Loan B facility in the aggregate principal amount of $3,500,000 (the New Term Loan B and collectively with the New Revolver and the New Term Loan A, the New Loans). In addition, the Company can increase the existing revolving commitments and enter into one or more incremental term loan facilities in an amount not to exceed the sum of $1,500,000 (less the amount of other permitted indebtedness incurred or issued in reliance on such amount), plus an amount of indebtedness such that the senior secured leverage ratio is not in excess of 3.50 to 1.00 after giving effect to such borrowings. The New Revolver and the New Term Loan A initially bear interest at LIBOR plus an interest rate margin of 1.75% which is subject to adjustment depending upon the Company’s leverage ratio and can range from 1.50% to 2.00%. The New Term Loan A requires annual principal payments which began on September 30, 2014 of $25,000 in 2014, $50,000 in 2015, $62,500 in 2016, $87,500 in 2017, and $100,000 in 2018 with the balance of $675,000 due in 2019. The New Term Loan B bears interest at LIBOR (Floor of 0.75%) plus an interest rate margin of 2.75%. The New Term Loan B requires annual principal payments of $17,500 in 2014, and $35,000 for each year from 2015 through 2020, with the balance of $3,272,500 due in 2021. These New Loans under the New Credit Agreement are guaranteed by certain of the Company’s direct and indirect wholly-owned domestic subsidiaries holding most of the Company’s domestic assets and are secured by substantially all of DaVita HealthCare Partners Inc.’s and the guarantors’ assets. The New Credit Agreement contains certain customary affirmative and negative covenants such as various restrictions or limitations on the amount of investments, acquisitions, the payment of dividends and redemptions and the incurrence of other indebtedness. Many of these restrictions and limitations will not apply as long as the Company’s leverage ratio is below 3.50 to 1.00. In addition, the New Credit Agreement places limitations on the amount of tangible net assets of the non-guarantor subsidiaries and also requires compliance with a maximum leverage ratio covenant. | |||||||||||||||||||||||||||
In addition, in June 2014, the Company issued $1,750,000 5 1/8% Senior Notes due 2024 (the 5 1/8% Senior Notes). The 5 1/8% Senior Notes pay interest on January 15 and July 15 of each year beginning January 15, 2015. The 5 1/8% Senior Notes are unsecured obligations and will rank equally in right of payment with our existing and future unsecured senior indebtedness. The 5 1/8% Senior Notes are guaranteed by each of the Company’s domestic subsidiaries that guarantees our New Credit Agreement. The Company may redeem up to 35% of the 5 1/8% Senior Notes at any time prior to July 15, 2017 at a certain specified price from the proceeds of one or more equity offerings. In addition, the Company may redeem the 5 1/8% Senior Notes at any time prior to July 15, 2019 at make whole redemption prices and after such date at certain specified redemption prices. | |||||||||||||||||||||||||||
The Company received total proceeds from these borrowings of $6,250,000, $4,500,000 from the issuance of the New Term Loans and $1,750,000 from the issuance of the 5 1/8% Senior Notes. The Company used a portion of the proceeds to pay off the total outstanding principal balances under the Company’s then existing Senior Secured Credit Facilities plus accrued interest totaling $5,362,400 and in addition, to purchase pursuant to a cash tender offer $483,100 of the outstanding principal balances of the Company’s $775,000 6 3/8% Senior Notes plus accrued interest and cash tender premium totaling $512,400. The total amount paid for the 6 3/8% Senior Notes from the cash tender offer was $1,051.25 per 1,000 of principal amount which resulted in the Company paying a cash tender premium of $24,800 for the redemption of this portion of the 6 3/8% Senior Notes. The Company also incurred an additional $81,600 in fees, discounts and other professional expenses associated with these transactions. | |||||||||||||||||||||||||||
In July 2014, the Company also purchased an additional $188 principal amount of the 6 3/8% Senior Notes plus accrued interest totaling $194 pursuant to the cash tender offer at a price of $1,021.25 per 1,000 of principal amount of the 6 3/8% Senior Notes, which resulted in the Company paying an additional cash tender premium of $4. | |||||||||||||||||||||||||||
In addition, in July 2014, the Company redeemed the remaining outstanding principal balance of the 6 3/8% Senior Notes of $291,719 at a redemption price of $1,047.81 per 1,000 of principal amount of the 6 3/8% Senior Notes plus accrued interest and a redemption premium which totaled $309,954. This resulted in an additional redemption premium of $13,947 being recorded as debt refinancing charges. | |||||||||||||||||||||||||||
In addition, the Company terminated $1,137,500 notional amounts of amortizing swaps and also terminated $600,000 of forward swaps during June 2014, that resulted in the Company recognizing a loss of $3,100, of which $3,000 was previously recorded in other comprehensive income due to our previously outstanding principal debt being paid-off as described above, and as a result of future forecasted transactions that are no longer probable. The loss is included as a component of the Company’s debt refinancing charges. During the year ended December 31, 2014, the Company recognized debt expense of $6,100 from these swaps. | |||||||||||||||||||||||||||
As a result of these transactions, the Company recorded debt refinancing charges of $97,500 that consist of the cash tender premiums, the redemption premium, the write-off of existing deferred financing costs, the write-off of certain new refinancing costs, other professional fees and losses associated with the termination of several of the Company’s interest rate swap agreements. | |||||||||||||||||||||||||||
Interest rate swaps and caps | |||||||||||||||||||||||||||
The Company has entered into several interest rate swap agreements as a means of hedging its exposure to and volatility from variable-based interest rate changes as part of its overall interest rate risk management strategy. These agreements are not held for trading or speculative purposes and have the economic effect of converting the LIBOR variable component of the Company’s interest rate to a fixed rate. These swap agreements are designated as cash flow hedges, and as a result, hedge-effective gains or losses resulting from changes in the fair values of these swaps are reported in other comprehensive income until such time as the hedged forecasted cash flows occur, at which time the amounts are reclassified into net income. Net amounts paid or received for each specific swap tranche that have settled have been reflected as adjustments to debt expense. In addition, the Company has entered into several interest rate cap agreements and several forward interest rate cap agreements that have the economic effect of capping the Company’s maximum exposure to LIBOR variable interest rate changes on specific portions of the Company’s floating rate debt, as described below. Certain cap agreements are also designated as cash flow hedges and, as a result, changes in the fair values of these cap agreements are reported in other comprehensive income. The amortization of the original cap premium is recognized as a component of debt expense on a straight-line basis over the term of the cap agreements. The swap and cap agreements do not contain credit-risk contingent features. | |||||||||||||||||||||||||||
As of December 31, 2014, the Company maintains several interest rate swap agreements that were entered into in March 2013 with amortizing notional amounts of these swap agreements totaling $855,000. These agreements have the economic effect of modifying the LIBOR variable component of the Company’s interest rate on an equivalent amount of the Company’s New Term Loan A to fixed rates ranging from 0.49% to 0.52%, resulting in an overall weighted average effective interest rate of 2.26%, including the New Term Loan A margin of 1.75%. The overall weighted average effective interest rate also includes the effects of $120,000 of unhedged New Term Loan A debt that bears interest at LIBOR plus an interest rate margin of 1.75%. The swap agreements expire on September 30, 2016 and require monthly interest payments. During the year ended December 31, 2014, the Company recognized debt expense of $3,170 from these swaps. As of December 31, 2014, the total fair value of these swap agreements was a net asset of approximately $1,824. The Company estimates that approximately $1,457 of existing unrealized pre-tax losses in other comprehensive income at December 31, 2014 will be reclassified into income over the next twelve months. | |||||||||||||||||||||||||||
As of December 31, 2014, the Company maintained several forward interest rate cap agreements that were entered into in November 2014 with notional amounts totaling $3,500,000. These forward cap agreements will be effective September 30, 2016 and will have the economic effect of capping the LIBOR variable component of our interest rate at a maximum of 3.50% on an equivalent amount of our debt. The cap agreements expire on June 30, 2018. As of December 31, 2014, the total fair value of these cap agreements was an asset of approximately $12,340. During the fourth quarter of 2014, the Company recorded a loss of $2,147 in other comprehensive income due to a decrease in the unrealized fair value of these cap agreements. | |||||||||||||||||||||||||||
As of December 31, 2014, the Company also maintains several interest rate cap agreements that were entered into in March 2013 with notional amounts totaling $2,735,000 on the Company’s New Term Loan B debt. These agreements have the economic effect of capping the LIBOR variable component of the Company’s interest rate at a maximum of 2.50% on an equivalent amount of the Company’s New Term Loan B. During the year ended December 31, 2014, the Company recognized debt expense of $2,439 from these caps. The cap agreements expire on September 30, 2016. As of December 31, 2014, the total fair value of these cap agreements was an asset of approximately $1,594. During the year ended December 31, 2014, the Company recorded a loss of $5,972 in other comprehensive income due to a decrease in the unrealized fair value of these cap agreements. | |||||||||||||||||||||||||||
Previously, the Company maintained five other interest rate cap agreements with notional amounts totaling $1,250,000. These agreements had the economic effect of capping the LIBOR variable component of our interest rate at a maximum of 4.00% on an equivalent amount of our New Term Loan B debt. However, these interest rate cap agreements expired on September 30, 2014. During the year ended December 31, 2014, the Company recognized $2,691 of debt expense related to these cap agreements. | |||||||||||||||||||||||||||
The following table summarizes the Company’s derivative instruments as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||
Interest rate swap and cap agreements (liabilities and assets) | |||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments | Balance sheet | Fair value | Balance sheet | Fair value | |||||||||||||||||||||||
location | location | ||||||||||||||||||||||||||
Interest rate swap agreements | Other short- | $ | 1,457 | Other short- | $ | 12,069 | |||||||||||||||||||||
term liabilities | term liabilities | ||||||||||||||||||||||||||
Interest rate swap agreements | Other long- | $ | 3,281 | Other long- | $ | 10,004 | |||||||||||||||||||||
term assets | term assets | ||||||||||||||||||||||||||
Interest rate cap agreements | Other long- | $ | 13,934 | Other long- | $ | 7,567 | |||||||||||||||||||||
term assets | term assets | ||||||||||||||||||||||||||
The following table summarizes the effects of the Company’s interest rate swap and cap agreements for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||||||||
Amount of gains (losses) | Location of (losses) gains reclassified from | Amount of gains (losses) | |||||||||||||||||||||||||
recognized in OCI | reclassified from accumulated | ||||||||||||||||||||||||||
on interest rate swap | OCI into income | ||||||||||||||||||||||||||
and cap agreements | |||||||||||||||||||||||||||
Years ended December 31, | accumulated | Years ended December 31, | |||||||||||||||||||||||||
Derivatives designated as cash flow hedges | 2014 | 2013 | 2012 | OCI into | 2014 | 2013 | 2012 | ||||||||||||||||||||
income | |||||||||||||||||||||||||||
Interest rate swap agreements | $ | (8,390 | ) | $ | 1,251 | $ | (8,838 | ) | Debt expense | $ | 12,279 | $ | 15,678 | $ | (12,989 | ) | |||||||||||
Interest rate cap agreements | (8,119 | ) | (974 | ) | (1,316 | ) | Debt expense | 5,130 | 5,418 | (3,589 | ) | ||||||||||||||||
Tax (expense) benefit | 6,450 | (108 | ) | 3,950 | (6,801 | ) | (8,207 | ) | 6,448 | ||||||||||||||||||
Total | $ | (10,059 | ) | $ | 169 | $ | (6,204 | ) | $ | 10,608 | $ | 12,889 | $ | (10,130 | ) | ||||||||||||
As of December 31, 2014, the interest rate on the Company’s Term Loan B debt is effectively fixed because of an embedded LIBOR floor which is higher than actual LIBOR as of such date and the New Term Loan B is also subject to interest rate caps if LIBOR should rise above 2.50%. See above for further details. Interest rates on the Company’s senior notes are fixed by their terms. The majority of the LIBOR variable component of the Company’s interest rates on the Company’s Term Loan A are economically fixed as a result of interest rate swaps. | |||||||||||||||||||||||||||
As a result of embedded LIBOR floors in some of the Company’s debt agreements and the swap and cap agreements, the Company’s overall weighted average effective interest rate on the Senior Secured Credit Facilities was 3.43%, based upon the current margins in effect of 1.75% for the Term Loan A and 2.75% for the Term Loan B, as of December 31, 2014. | |||||||||||||||||||||||||||
The Company’s overall weighted average effective interest rate for the year ended December 31, 2014 was 4.68% and as of December 31, 2014 was 4.46%. | |||||||||||||||||||||||||||
Debt expense | |||||||||||||||||||||||||||
Debt expense consisted of interest expense of $385,750, $401,140 and $270,107, and the amortization and accretion of debt discounts and premiums, amortization of deferred financing costs and the amortization of interest rate cap agreements of $24,544, $28,803 and $18,447 for 2014, 2013 and 2012, respectively. The interest expense amounts are net of capitalized interest. | |||||||||||||||||||||||||||
Leases
Leases | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Leases [Abstract] | |||||||||
Leases | 15 | Leases | |||||||
The majority of the Company’s facilities are leased under non-cancelable operating leases, ranging in terms from five to fifteen years, which contain renewal options of five to ten years at the fair rental value at the time of renewal. The Company’s leases are generally subject to periodic consumer price index increases or contain fixed escalation clauses. The Company also leases certain facilities and equipment under capital leases. | |||||||||
Future minimum lease payments under non-cancelable operating leases and capital leases are as follows: | |||||||||
Operating | Capital | ||||||||
leases | leases | ||||||||
2015 | $ | 395,862 | $ | 21,011 | |||||
2016 | 370,920 | 21,277 | |||||||
2017 | 344,232 | 21,552 | |||||||
2018 | 302,752 | 21,961 | |||||||
2019 | 262,645 | 22,615 | |||||||
Thereafter | 901,792 | 202,245 | |||||||
$ | 2,578,203 | 310,661 | |||||||
Less portion representing interest | (92,564 | ) | |||||||
Total capital lease obligations, including current portion | $ | 218,097 | |||||||
Rent expense under all operating leases for 2014, 2013, and 2012 was $460,093, $424,096 and $345,066, respectively. Rent expense is recorded on a straight-line basis, over the term of the lease, for leases that contain fixed escalation clauses or include abatement provisions. Leasehold improvement incentives are deferred and amortized to rent expense over the term of the lease. The net book value of property and equipment under capital leases was $197,344 and $145,615 at December 31, 2014 and 2013, respectively. Capital lease obligations are included in long-term debt. See Note 14 to the consolidated financial statements. |
Employee_benefit_plans
Employee benefit plans | 12 Months Ended | |
Dec. 31, 2014 | ||
Compensation And Retirement Disclosure [Abstract] | ||
Employee benefit plans | 16 | Employee benefit plans |
The Company has a savings plan for substantially all of its non-HCP employees which has been established pursuant to the provisions of Section 401(k) of the Internal Revenue Code (IRC). The plan allows for employees to contribute a percentage of their base annual salaries on a tax-deferred basis not to exceed IRC limitations. The Company does not provide any matching contributions. | ||
The Company also has various savings plans covering substantially all of its HCP employees which have been established pursuant to the provisions of Section 401(k) of the IRC. These plans provide for multiple employer matching contributions ranging from 0% to 6% of employee contributions. For the year ended December 31, 2014, the Company made matching contributions totaling approximately $7,400. | ||
The Company also maintains a voluntary compensation deferral plan, the DaVita Voluntary Deferral Plan. This plan is non-qualified and permits certain employees whose annualized base salary equals or exceeds a minimum annual threshold amount as set by the Company to elect to defer all or a portion of their annual bonus payment and up to 50% of their base salary into a deferral account maintained by the Company. Total contributions to this plan in 2014, 2013 and 2012 were $3,772, $4,089 and $3,935, respectively. Deferred amounts are generally paid out in cash at the participant’s election either in the first or second year following retirement or in a specified future period at least three to four years after the deferral election was effective. During 2014, 2013 and 2012 the Company distributed $1,111, $4,158 and $1,324, respectively, to participants in this plan. Participants are credited with their proportional amount of annual earnings from the plan. The assets of this plan are held in a rabbi trust and as such are subject to the claims of the Company’s general creditors in the event of its bankruptcy. As of December 31, 2014 and 2013, the total fair value of assets held in this plan’s trust were $21,208 and $17,419, respectively. In addition, the Company maintains a non-qualified voluntary compensation deferral plan, the HealthCare Partners, LLC Deferred Compensation Plan. As of December 31, 2014 and 2013, the total fair value of the assets held in this plan’s trust were $5,347 and $572, respectively. | ||
The Company maintains an Executive Retirement Plan for certain members of management. This plan is non-qualified and contributions to the plan were made at the discretion of DVA Renal Healthcare based upon a pre-determined percentage of a participant’s base salary. Effective November 2005, all contributions to this plan were discontinued and the balance of the plan assets will be paid out upon termination or retirement of each individual participant. During 2014 and 2012 the Company distributed $152 and $226, respectively, to participants in this plan. During 2013 the Company did not make any distributions to participants under this plan. As of December 31, 2014 and 2013, the total fair value of assets held under this plan’s trust was $1,344 and $1,430, respectively. | ||
The Company also maintains a non-qualified deferred compensation program for certain key employees of HCP. Under the program, the employees can defer a portion of their salary which is invested at the direction of the employee into certain phantom investments as offered by the program. A portion of the amount deferred by the employees is used to purchase life insurance policies on each of the participating employees, with the Company named as beneficiary of the policies. The total cash surrender value of all of the life insurance policies totaled approximately $57,700 and $56,300 at December 31, 2014 and 2013, respectively, and is included in long-term investments. In addition, the total deferred compensation liabilities owed to the participants totaled approximately $60,400 and $62,000 at December 31, 2014 and 2013, respectively, and are included in other long-term liabilities. During 2014, the Company did not make any contributions on behalf of its participants. During the year ended December 31, 2013, the Company contributed a total of approximately $4,658 into the deferred compensation program on behalf of its participants. | ||
The fair value of all of the assets held in plan trusts as of December 31, 2014, and 2013 totaled $27,899 and $19,421, respectively. These assets are available for sale and as such are recorded at fair market value with changes in the fair market values being recorded in other comprehensive income. Any fair market value changes to the corresponding liability balance are recorded as compensation expense. See Note 9 to the consolidated financial statements. | ||
Most of the Company’s outstanding employee stock plan awards include a provision accelerating the vesting of the award in the event of a change of control. The Company also maintains a change of control protection program for its employees who do not have a significant number of stock awards, which has been in place since 2001, and which provides for cash bonuses to employees in the event of a change of control. Based on the market price of the Company’s common stock and shares outstanding on December 31, 2014, these cash bonuses would total approximately $646,000 if a change of control transaction occurred at that price and the Company’s Board of Directors did not modify the program. This amount has not been accrued at December 31, 2014, and would only be accrued upon a change of control. These change of control provisions may affect the price an acquirer would be willing to pay for the Company. |
Contingencies
Contingencies | 12 Months Ended | |
Dec. 31, 2014 | ||
Commitments And Contingencies Disclosure [Abstract] | ||
Contingencies | 17 | Contingencies |
The majority of the Company’s revenues are from government programs and may be subject to adjustment as a result of: (i) examination by government agencies or contractors, for which the resolution of any matters raised may take extended periods of time to finalize; (ii) differing interpretations of government regulations by different Medicare contractors or regulatory authorities; (iii) differing opinions regarding a patient’s medical diagnosis or the medical necessity of services provided; and (iv) retroactive applications or interpretations of governmental requirements. In addition, the Company’s revenues from commercial payors may be subject to adjustment as a result of potential claims for refunds, as a result of government actions or as a result of other claims by commercial payors. | ||
Inquiries by the Federal Government and Certain Related Civil Proceedings | ||
Vainer Private Civil Suit: In December 2008, the Company received a subpoena for documents from the Office of Inspector General (OIG) for HHS relating to the pharmaceutical products Zemplar, Hectorol, Venofer, Ferrlecit and erythropoietin (EPO), as well as other related matters. The subpoena covered the period from January 2003 to December 2008. The Company was advised by the U.S. Attorney’s Office for the Northern District of Georgia and the U.S. Department of Justice in Washington, DC that this was a civil inquiry. On June 17, 2009, the Company learned that the allegations underlying this inquiry were made as part of a civil complaint filed by individuals and brought pursuant to the qui tam provisions of the federal False Claims Act. On April 1, 2011, the U.S. District Court for the Northern District of Georgia ordered the case to be unsealed. At that time, the Department of Justice and U.S. Attorney’s Office filed a notice of declination stating that the federal government would not be intervening and not pursuing the relators’ allegation in litigation. On July 25, 2011, the relators, Daniel Barbir and Dr. Alon Vainer, filed their amended civil complaint in the U.S. District Court for the Northern District of Georgia, purportedly on behalf of the federal government. The amended complaint alleges that the Company’s drug administration practices for the Company’s dialysis operations for Vitamin D and iron agents from 2003 through 2010 fraudulently created unnecessary waste, which was billed to and paid for by the government. The amended complaint seeks monetary damages and civil penalties as well as costs and expenses. The parties completed discovery in early 2014; however in August 2014, the Court granted relators’ motion for sanctions and reopened discovery on a limited basis. The Company is vigorously defending this matter and intends to continue to do so. The Company can make no assurances as to the time or resources that will be needed to devote to this litigation. The Company cannot predict the ultimate outcome of this case, but if the case is resolved in favor of the plaintiffs, its resolution could have a material adverse effect on our earnings and cash flows. | ||
2010 U.S. Attorney Physician Relationship Investigation: As previously disclosed, the U.S. Attorney’s Office for the District of Colorado and the OIG investigated, among other things, the Company’s financial relationships with physicians and joint ventures, and whether those relationships and joint ventures comply with the federal anti-kickback statute and the False Claims Act. This investigation has been described in the Company’s prior Reports on Forms 10-K and 10-Q and referred to as the 2010 U.S. Attorney Physician Relationship Investigation. This investigation overlapped substantially with the investigation described below under the caption 2011 U.S. Attorney Physician Relationship Investigation. The Company disclosed in early 2014 that it had reached an agreement in principle with the government to resolve these matters. | ||
As described more fully in the Company’s current report on Form 8-K filed on October 23, 2014, and as also disclosed in the Company’s prior report on Form 10-Q for the quarter ended September 30, 2014 that was filed with the SEC on November 6, 2014, the Company entered into a final settlement agreement on October 22, 2014 (the Settlement Agreement) with the United States of America, acting through the United States Department of Justice and on behalf of the OIG, the Defense Health Agency on behalf of TRICARE, through its General Counsel (collectively, the United States) and relator David Barbetta, to resolve the 2010 and 2011 U.S. Attorney Physician Relationship Investigations. In connection with the resolution of these matters, the Company agreed to pay and has now paid to the United States $350,000 plus accrued interest from the date of the Company’s agreement in principle with the United States, plus a civil forfeiture of $39,000. In addition, the Company agreed to and has paid a settlement of certain state Medicaid claims in the amount of $11,500 plus interest. Under the Settlement Agreement, among other things, the United States agrees to release the Company from any civil or administrative monetary liability arising from allegations that the Company caused the submission of claims to the federal health care programs that were ineligible for reimbursement due to certain violations of the federal anti-kickback statute in connection with certain of its dialysis center joint venture arrangements, and the United States and the relator agree to dismissal of the civil action filed by the relator under the qui tam provisions of the federal False Claims Act. The Company also has entered into a five-year corporate integrity agreement (the CIA) with the OIG. The CIA, among other things, (i) requires that the Company maintain certain elements of its compliance programs, (ii) imposes certain expanded compliance-related requirements during the term of the CIA, (iii) requires ongoing monitoring, reporting, certification, records retention and training obligations, the formal allocation of certain oversight responsibility to the Board’s Compliance Committee, the creation of a Management Compliance Committee and the retention of an independent compliance advisor to the Board, and (iv) contains certain business restrictions related to a subset of the Company’s joint venture arrangements, including the Company’s agreeing to: (1) unwind 11 joint venture transactions that were created through partial divestitures to or partial acquisitions from nephrologists and that cover 26 of the Company’s 2,119 clinics that existed at the time the Company entered into the Settlement Agreement; (2) not enter into certain types of partial divestiture joint venture transactions with nephrologists during the term of the CIA; and (3) certain other restrictions. In the event of a breach of the CIA, the Company could become liable for payment of certain stipulated penalties, or could be excluded from participation in federal health care programs. The costs associated with compliance with the CIA could be substantial and may be greater than the Company currently anticipates. In 2013, the Company accrued a loss contingency reserve of $397,000 related to this matter. In the third quarter of 2014, the Company accrued an additional $17,000 related to this matter which resulted in an increase in the reserve from $397,000 to $414,000. | ||
2011 U.S. Attorney Physician Relationship Investigation: In August 2011, the Company announced it had learned that the U.S. Attorney’s Office for the District of Colorado would be investigating certain activities of its dialysis business in connection with information being provided to a grand jury. This investigation related to the Company’s relationships with physicians, including its joint ventures, and whether those relationships and joint ventures comply with the federal anti-kickback statute, and overlapped substantially with the 2010 U.S. Attorney Physician Relationship Investigation described above. As also described above, both the 2010 and 2011 U.S. Attorney Physician Relationship Investigations have now been resolved. The United States has informed the Company that it has declined to proceed with any criminal charges in connection with this matter. | ||
2011 U.S. Attorney Medicaid Investigation: In October 2011, the Company announced that it would be receiving a request for documents, which could include an administrative subpoena from the OIG. Subsequent to the Company’s announcement of this 2011 U.S. Attorney Medicaid Investigation, the Company received a request for documents in connection with the inquiry by the U.S. Attorney’s Office for the Eastern District of New York. The request relates to payments for infusion drugs covered by Medicaid composite payments for dialysis. It is the Company’s understanding that this inquiry is civil in nature. The Company understands that certain other providers that operate dialysis clinics in New York may be receiving or have received a similar request for documents. The Company has cooperated with the government and produced the requested documents. In April 2014, the Company reached an agreement in principle to resolve this matter. The specific terms of a settlement have not been finalized. | ||
Swoben Private Civil Suit: In April 2013, the Company’s HealthCare Partners (HCP) subsidiary was served with a civil complaint filed by a former employee of SCAN Health Plan (SCAN), a health maintenance organization (HMO). On July 13, 2009, pursuant to the qui tam provisions of the federal False Claims Act and the California False Claims Act, James M. Swoben, as relator, filed a qui tam action in the United States District Court for the Central District of California purportedly on behalf of the United States of America and the State of California against SCAN, and certain other defendants whose identities were under seal. The allegations in the complaint relate to alleged overpayments received from government healthcare programs. In or about August 2012, SCAN entered into a settlement agreement with the United States of America and the State of California. The United States and the State of California partially intervened in the action for the purpose of settlement with and dismissal of the action against SCAN. In or about November 2011, the relator filed his Third Amended Complaint under seal alleging violations of the federal False Claims Act and the California False Claims Act, which named additional defendants, including HCP and certain health insurance companies (the defendant HMOs). The allegations in the complaint against HCP relate to patient diagnosis coding to determine reimbursement in the Medicare Advantage program, referred to as Hierarchical Condition Coding (HCC) and Risk Adjustment Factor (RAF) scores. The complaint sought monetary damages and civil penalties as well as costs and expenses. The United States Department of Justice reviewed these allegations and in January 2013 declined to intervene in the case. On June 26, 2013, HCP and the defendant HMOs filed their respective motions to dismiss the Third Amended Complaint pursuant to Federal Rules of Civil Procedure 12(b)(6) and 9(b), challenging the legal sufficiency of the claims asserted in the complaint. On July 30, 2013, the court granted HCP’s motion and dismissed with prejudice all of the claims in the Third Amended Complaint and judgment was entered in September 2013. The court specifically determined that further amendments to the complaint would be futile because, in part, the allegations were publicly disclosed in reports and other sources relating to audits conducted by the Centers of Medicare & Medicaid Services. In October 2013, the plaintiff appealed to the United States Court of Appeals for the Ninth Circuit and the court’s disposition of the appeal is pending. | ||
2015 U.S. Attorney Transportation Investigation: In February 2015, the Company announced that it received six subpoenas from the OIG for medical records from six different dialysis centers in Southern California operated by the Company. Specifically, each subpoena seeks the medical records of a single patient of the respective dialysis center. The Company has been advised by an attorney with the Civil Division of the United States Attorney’s Office for the Central District of California that the subpoenas relate to an investigation concerning the medical necessity of patient transportation. The Company does not provide transportation or bill for the transport of its dialysis patients. The Company does not know the scope of the investigation by the government, nor what conduct or activities might be the subject of the investigation. | ||
Except for the private civil complaints filed by the relators as described above, to the Company’s knowledge, no proceedings have been initiated against the Company at this time in connection with any of the inquiries by the federal government. Although the Company cannot predict whether or when proceedings might be initiated or when these matters may be resolved, it is not unusual for inquiries such as these to continue for a considerable period of time through the various phases of document and witness requests and on-going discussions with regulators. Responding to the subpoenas or inquiries and defending the Company in the relator proceedings will continue to require management’s attention and significant legal expense. Any negative findings in the inquiries or relator proceedings could result in substantial financial penalties or awards against the Company, exclusion from future participation in the Medicare and Medicaid programs and, to the extent criminal proceedings may be initiated against the Company, possible criminal penalties. At this time, the Company cannot predict the ultimate outcome of these inquiries, or the potential outcome of the relators’ claims (except as described above), or the potential range of damages, if any. | ||
Shareholder Derivative Claims | ||
In re DaVita HealthCare Partners Inc. Derivative Litigation: On January 7, 2014, the U.S. District Court for the District of Colorado consolidated the two previously disclosed shareholder derivative lawsuits: the Haverhill Retirement System action filed on May 17, 2013 and the Clark Shareholder action filed on August 7, 2012. The court appointed Haverhill lead plaintiff. The complaints filed against the directors of the Company and against the Company, as nominal defendant allege, among other things, that the Company’s directors breached fiduciary duties to the Company relating to the 2010 and 2011 U.S. Attorney Physician Relationship Investigations described above, the Vainer qui tam private civil suit described above and the Woodard qui tam private civil suit for which the Company previously announced a settlement in July 2012. The Company has entered into a settlement with the lead plaintiff, subject to court approval. The terms of the settlement, which were described in a court-ordered notice sent to shareholders in late January 2015, include enhancements to the Company’s corporate governance practices and provides that the Company will not oppose the derivative plaintiff’s application for an award of fees and expenses, the dollar amount of which is not material to the Company. On January 8, 2015, the Court entered an order preliminarily approving the settlement, directing that the notice to shareholders be provided as described above and setting a settlement fairness hearing on May 1, 2015. | ||
Other | ||
The Company has received several notices of claims from commercial payors and other third parties related to historical billing practices and claims against DVA Renal Healthcare (formerly known as Gambro Healthcare), a subsidiary of the Company, related to historical Gambro Healthcare billing practices and other matters covered by its 2004 settlement agreement with the Department of Justice and certain agencies of the U.S. government. The Company has received no further indication that any of these claims are active, and some of them may be barred by applicable statutes of limitations. To the extent any of these claims might proceed, the Company intends to defend against them vigorously; however, the Company may not be successful and these claims may lead to litigation and any such litigation may be resolved unfavorably. At this time, the Company cannot predict the ultimate outcome of these matters or the potential range of damages, if any. | ||
A wage and hour claim, which has been styled as a class action, is pending against the Company in the Superior Court of California. The Company was served with the complaint in this lawsuit in April 2008, and it has been amended since that time. The complaint, as amended, alleges that the Company failed to provide meal periods, failed to pay compensation in lieu of providing rest or meal periods, failed to pay overtime, and failed to comply with certain other California Labor Code requirements. In September 2011, the court denied the plaintiffs’ motion for class certification. Plaintiffs appealed that decision. In January 2013, the Court of Appeals affirmed the trial court’s decision on some claims, but remanded the case to the trial court for clarification of its decision on one of the claims. The Company reached an agreement with the plaintiffs to settle the claim that was remanded to the trial court, and that settlement has been finalized. The amount of the settlement is not material to the Company’s consolidated financial statements. The Company intends to continue to vigorously defend against the remaining claims. Any potential settlement of the remaining claims is not anticipated to be material to the Company’s consolidated financial statements. | ||
In addition to the foregoing, the Company is subject to claims and suits, including from time to time, contractual disputes and professional and general liability claims, as well as audits and investigations by various government entities, in the ordinary course of business. The Company believes that the ultimate resolution of any such pending proceedings, whether the underlying claims are covered by insurance or not, will not have a material adverse effect on its financial condition, results of operations or cash flows. |
Noncontrolling_interests_subje
Noncontrolling interests subject to put provisions and other commitments | 12 Months Ended | |
Dec. 31, 2014 | ||
Commitments And Contingencies Disclosure [Abstract] | ||
Noncontrolling interests subject to put provisions and other commitments | 18 | Noncontrolling interests subject to put provisions and other commitments |
Noncontrolling interests subject to put provisions | ||
The Company has potential obligations to purchase the noncontrolling interests held by third parties in several of its majority-owned joint ventures, non-owned and minority-owned entities. These obligations are in the form of put provisions and are exercisable at the third-party owners’ discretion within specified periods as outlined in each specific put provision. If these put provisions were exercised, the Company would be required to purchase the third-party owners’ noncontrolling interests at either the appraised fair market value or a predetermined multiple of earnings or cash flow attributable to the noncontrolling interests put to the Company, which is intended to approximate fair value. The methodology the Company uses to estimate the fair values of noncontrolling interests subject to put provisions assumes the higher of either a liquidation value of net assets or an average multiple of earnings, based on historical earnings, patient mix and other performance indicators that can affect future results, as well as other factors. The estimated fair values of the noncontrolling interests subject to put provisions is a critical accounting estimate that involves significant judgments and assumptions and may not be indicative of the actual values at which the noncontrolling interests may ultimately be settled, which could vary significantly from the Company’s current estimates. The estimated fair values of noncontrolling interests subject to put provisions can fluctuate and the implicit multiple of earnings at which these noncontrolling interests obligations may be settled will vary significantly depending upon market conditions including potential purchasers’ access to the capital markets, which can impact the level of competition for dialysis and non-dialysis related businesses, the economic performance of these businesses and the restricted marketability of the third-party owners’ noncontrolling interests. The amount of noncontrolling interests subject to put provisions that employ a contractually predetermined multiple of earnings rather than fair value are immaterial. | ||
Additionally, the Company has certain other potential commitments to provide operating capital to several dialysis centers that are wholly-owned by third parties or centers in which the Company owns a minority equity investment as well as to physician-owned vascular access clinics or medical practices that the Company operates under management and administrative service agreements of approximately $1,000. | ||
Certain consolidated joint ventures are contractually scheduled to dissolve after terms ranging from ten to fifty years. Accordingly, the noncontrolling interests in these joint ventures are considered mandatorily redeemable instruments, for which the classification and measurement requirements have been indefinitely deferred. Future distributions upon dissolution of these entities would be valued below the related noncontrolling interest carrying balances in the consolidated balance sheet. | ||
Other commitments | ||
In November 2011, the Company entered into a seven year Sourcing and Supply Agreement with Amgen USA Inc. (Amgen) that expires on December 31, 2018. Under terms of the agreement, the Company will purchase EPO in amounts necessary to meet no less than 90% of its requirements for ESAs. The actual amount of EPO that the Company will purchase from Amgen will depend upon the amount of EPO administered during dialysis as prescribed by physicians and the overall number of patients that the Company serves. | ||
In December 2012, the Company entered into an amendment to its agreement with Amgen that made non-material changes to certain terms of the agreement for the period from January 1, 2013 through December 31, 2013. Under the terms of the original agreement before the amendment, the Company was required to purchase EPO in amounts necessary to meet no less than 90% of its requirements of ESAs and is still required to do so after 2013. In addition, all of the other conditions as specified in the original agreement entered into in November 2011 still apply. | ||
In January 2010, the Company entered into an agreement with Fresenius which committed the Company to purchase a certain amount of dialysis equipment, parts and supplies from Fresenius through 2013. However, this agreement has been extended through 2015. During 2014, 2013 and 2012, the Company purchased $154,266 and $144,030 and $138,450, respectively, of certain equipment, parts and supplies from Fresenius. | ||
In conjunction with its acquisition of DVA Renal Healthcare, Inc., formerly known as Gambro Healthcare, Inc. in October 2005, the Company entered into an Alliance and Product Supply Agreement (the Product Supply Agreement) with Gambro AB and Gambro. Because the Amended Product Supply Agreement results in higher costs for most of the products covered by the Product Supply Agreement than would otherwise be available, the Company recorded an intangible liability at the time of the acquisition | ||
The Product Supply Agreement committed the Company to purchase a significant majority of its hemodialysis products, supplies and equipment at fixed prices through 2015. The agreement was amended in 2006 (the Amended Product Supply Agreement) to reduce the Company’s purchase obligations for certain hemodialysis product supplies and equipment, and in 2007, the Company terminated its obligation to purchase certain dialysis machines under the Amended Product Supply Agreement. However, the Company continues to be subject to the Product Supply Agreement’s requirements to purchase a majority of its hemodialysis non-equipment product supplies, such as dialyzers, from Gambro at fixed prices. | ||
During 2014, 2013 and 2012, the Company purchased $112,645, $124,555 and $147,639 of hemodialysis product supplies from Gambro. | ||
Certain HCP entities are required to maintain minimum cash balances in order to comply with regulatory requirements in conjunction with medical claim reserves. As of December 31, 2014, this minimum cash balance was approximately $65,400. | ||
Other than operating leases disclosed in Note 15 to the consolidated financial statements, the letters of credit disclosed in Note 14 to the consolidated financial statements, and the arrangements as described above, the Company has no off balance sheet financing arrangements as of December 31, 2014. |
Longterm_incentive_compensatio
Long-term incentive compensation and shareholders' equity | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||
Long-term incentive compensation and shareholders' equity | 19 | Long-term incentive compensation and shareholders’ equity | |||||||||||||||||||
Long-term incentive compensation | |||||||||||||||||||||
Long-term incentive program (LTIP) compensation includes both stock-based awards (principally stock-settled stock appreciation rights, restricted stock units and performance stock units) as well as long-term performance-based cash awards. Long-term incentive compensation expense, which was primarily general and administrative in nature, was attributed to the dialysis and related lab services business, the HCP business, corporate support costs, and the ancillary services and strategic initiatives. | |||||||||||||||||||||
The Company’s stock-based compensation awards are measured at their estimated fair values on the date of grant if settled in shares or at their estimated fair values at the end of each reporting period if settled in cash. The value of stock-based awards so measured is recognized as compensation expense on a cumulative straight-line basis over the vesting terms of the awards, adjusted for expected forfeitures. | |||||||||||||||||||||
Stock-based compensation to be settled in shares is recorded to the Company’s shareholders’ equity, while stock-based compensation to be settled in cash is recorded to a liability. Shares issued upon exercise of stock awards are generally issued from authorized but unissued shares. | |||||||||||||||||||||
Stock split | |||||||||||||||||||||
In the third quarter of 2013, the Board of Directors approved a two-for-one stock split of the Company’s common stock in the form of a stock dividend payable on September 6, 2013 to stockholders of record on August 23, 2013. The Company’s common stock began trading on a post-split basis on September 9, 2013. All share and per share data for all periods presented have been adjusted to reflect the effects of the stock split. | |||||||||||||||||||||
Long-term incentive compensation plans | |||||||||||||||||||||
On June 17, 2013, the stockholders of the Company approved an amendment to the DaVita HealthCare Partners Inc. 2011 Incentive Award Plan to increase the number of shares of common stock available for issuance under the Plan by 17,000,000 shares. | |||||||||||||||||||||
On June 11, 2012, the Company’s stockholders approved an amendment to the Company’s 2011 Incentive Award Plan (the 2011 Plan) to increase the number of shares of common stock available for issuance under the plan by 9,000,000 shares and to increase the amount by which share reserves under the plan are reduced by grants of full value share awards to 3.5 times from 3.0 times the number of shares subject to the award. | |||||||||||||||||||||
The Company’s 2011 Incentive Award Plan is the Company’s omnibus equity compensation plan and provides for grants of stock-based awards to employees, directors and other individuals providing services to the Company, except that incentive stock options may only be awarded to employees. The 2011 Plan authorizes the Company to award stock options, stock appreciation rights, restricted stock units, restricted stock, and other stock-based or performance-based awards, and is designed to enable the Company to grant equity and cash awards that qualify as performance-based compensation under Section 162(m) of the Internal Revenue Code. The 2011 Plan mandates a maximum award term of five years and stipulates that stock appreciation rights and stock options be granted with prices not less than fair market value on the date of grant. The 2011 Plan also requires that full value share awards such as restricted stock units reduce shares available under the Plan at a ratio of 3.5:1. The Company’s nonqualified stock appreciation rights and stock units awarded under the Plan generally vest over 36 to 48 months from the date of grant. At December 31, 2014, there were 10,585,172 stock-settled stock appreciation rights, 921,898 stock-settled stock units, 65,000 cash-settled stock appreciation rights and 7,734 cash-settled stock units outstanding, and 33,687,881 shares available for future grants, under the Plan. | |||||||||||||||||||||
A combined summary of the status of the Company’s stock-settled awards under the 2011 Plan, including base shares for stock-settled stock appreciation rights and stock-settled stock unit awards is as follows: | |||||||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||||||
Stock appreciation rights | Stock units | ||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||
average | average | average | |||||||||||||||||||
exercise | remaining | remaining | |||||||||||||||||||
Awards | price | contractual life | Awards | contractual life | |||||||||||||||||
Outstanding at beginning of year | 12,956,094 | $ | 45.44 | 966,596 | |||||||||||||||||
Granted | 1,553,829 | 70.15 | 332,007 | ||||||||||||||||||
Exercised | (3,473,804 | ) | 32.05 | (303,970 | ) | ||||||||||||||||
Cancelled | (450,947 | ) | 51.49 | (72,735 | ) | ||||||||||||||||
Outstanding at end of period | 10,585,172 | $ | 53.21 | 2.7 | 921,898 | 1.5 | |||||||||||||||
Exercisable at end of period | 2,541,397 | $ | 42.79 | 1.6 | 496 | 0.3 | |||||||||||||||
Weighted-average fair value of grants in 2014 | $ | 16.41 | $ | 72.24 | |||||||||||||||||
Weighted-average fair value of grants in 2013 | $ | 13.47 | $ | 58.9 | |||||||||||||||||
Weighted-average fair value of grants in 2012 | $ | 11.28 | $ | 54.85 | |||||||||||||||||
Awards | Weighted average | Awards | Weighted average | ||||||||||||||||||
Range of SSAR base prices | outstanding | exercise price | exercisable | exercise price | |||||||||||||||||
$20.01–$30.00 | 9,000 | 29.9 | 9,000 | 29.9 | |||||||||||||||||
$30.01–$40.00 | 893,976 | 34.92 | 710,869 | 34.65 | |||||||||||||||||
$40.01–$50.00 | 3,230,512 | 43.02 | 1,545,204 | 42.86 | |||||||||||||||||
$50.01–$60.00 | 4,577,354 | 57.49 | 36,324 | 55.03 | |||||||||||||||||
$60.01–$70.00 | 1,470,547 | 68.06 | 240,000 | 65.08 | |||||||||||||||||
$70.01–$80.00 | 403,783 | 73.07 | — | — | |||||||||||||||||
Total | 10,585,172 | $ | 53.21 | 2,541,397 | $ | 42.79 | |||||||||||||||
Liability-classified awards contributed $1,774, $338 and $175 to stock-based compensation expense for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014 the Company had 72,734 liability-classified share awards outstanding, 10,625 of which were vested, and a total stock-based liability balance of $1,242. The Company did not grant any cash-settled stock-based awards during 2014. | |||||||||||||||||||||
For the years ended December 31, 2014, 2013, and 2012, the aggregate intrinsic value of stock-based awards exercised was $151,342, $120,775 and $228,698, respectively. At December 31, 2014, the aggregate intrinsic value of stock awards outstanding was $310,351 and the aggregate intrinsic value of stock awards exercisable was $84,129. | |||||||||||||||||||||
Estimated fair value of stock-based compensation awards | |||||||||||||||||||||
The Company has estimated the grant-date fair value of stock-settled stock appreciation rights awards using the Black-Scholes-Merton valuation model and stock-settled stock unit awards at intrinsic value on the date of grant. The following assumptions were used in estimating these values and determining the related stock-based compensation attributable to the current period: | |||||||||||||||||||||
Expected term of the awards: The expected term of awards granted represents the period of time that they are expected to remain outstanding from the date of grant. The Company determines the expected term of its stock awards based on its historical experience with similar awards, considering the Company’s historical exercise and post-vesting termination patterns, and the terms expected by peer companies in near industries. | |||||||||||||||||||||
Expected volatility: Expected volatility represents the volatility anticipated over the expected term of the award. The Company determines the expected volatility for its awards based on the volatility of the price of its common stock over the most recent retrospective period commensurate with the expected term of the award, considering the volatility expectations implied by the market price of its exchange-traded options and the volatilities expected by peer companies in near industries. | |||||||||||||||||||||
Expected dividend yield: The Company has not paid dividends on its common stock and does not currently expect to pay dividends during the term of stock awards granted. | |||||||||||||||||||||
Risk-free interest rate: The Company bases the expected risk-free interest rate on the implied yield currently available on stripped interest coupons of U.S. Treasury issues with a remaining term equivalent to the expected term of the award. | |||||||||||||||||||||
A summary of the weighted average valuation inputs described above used for estimating the grant-date fair value of stock-settled stock appreciation rights awards granted in the periods indicated is as follows: | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Expected term | 4.2 years | 4.1 years | 3.7 years | ||||||||||||||||||
Expected volatility | 25.8 | % | 27.2 | % | 28 | % | |||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||||||
Risk-free interest rate | 1.5 | % | 0.7 | % | 0.6 | % | |||||||||||||||
The Company estimates expected forfeitures based upon historical experience with separate groups of employees that have exhibited similar forfeiture behavior in the past. Stock-based compensation expense is recorded only for awards that are expected to vest. | |||||||||||||||||||||
Employee stock purchase plan | |||||||||||||||||||||
The Employee Stock Purchase Plan entitles qualifying employees to purchase up to $25 of the Company’s common stock during each calendar year. The amounts used to purchase stock are accumulated through payroll withholdings or through optional lump sum payments made in advance of the first day of the purchase right period. This compensatory plan allows employees to purchase stock for the lesser of 100% of the fair market value on the first day of the purchase right period or 85% of the fair market value on the last day of the purchase right period. Purchase right periods begin on January 1 and July 1, and end on December 31. Payroll withholdings and lump-sum payments related to the plan, included in accrued compensation and benefits and used to purchase the Company’s common stock for 2014, 2013 and 2012 participation periods, were $19,010, $12,817 and $8,322, respectively. Shares purchased pursuant to the plan’s 2014, 2013 and 2012 participation periods were 297,954, 237,961and 202,658, respectively. At December 31, 2014, there were 836,421 shares remaining available for future grants under this plan. | |||||||||||||||||||||
The fair value of employees’ purchase rights was estimated as of the beginning dates of the purchase right periods using the Black-Scholes-Merton valuation model with the following weighted average assumptions for purchase right periods in 2014, 2013 and 2012, respectively: expected volatility of 27%, 28% and 26%; risk-free interest rate of 0.2%, 0.2% and 0.1%, and no dividends. Using these assumptions, the weighted average estimated fair value of these purchase rights was $16.40, $14.24 and $10.05 for 2014, 2013 and 2012, respectively. | |||||||||||||||||||||
Long-term incentive compensation expense and proceeds | |||||||||||||||||||||
For the years ended December 31, 2014, 2013 and 2012, the Company recognized $118,970, $84,841 and $45,820, respectively, in total LTIP expense, of which $56,743, $59,998 and $45,384, respectively, was stock-based compensation expense for stock appreciation rights, stock options, stock units and discounted employee stock plan purchases, which are primarily included in general and administrative expenses. The estimated tax benefits recorded for stock-based compensation in 2014, 2013 and 2012 were $20,351, $22,187 and $16,874, respectively. As of December 31, 2014, there was $122,574 total estimated unrecognized compensation cost for outstanding LTIP awards, including $73,585 related to stock-based compensation arrangements under the Company’s equity compensation and stock purchase plans. The Company expects to recognize the performance-based cash component of these LTIP costs over a weighted average remaining period of 1.0 year and the stock-based component of these LTIP costs over a weighted average remaining period of 1.3 years. | |||||||||||||||||||||
For the years ended December 31, 2014, 2013 and 2012, the Company received $59,119, $46,898 and $88,964, respectively, in actual tax benefits upon the exercise of stock awards. As a result of the Company issuing SSARs, beginning in 2013, the Company no longer has stock options outstanding and did not receive cash proceeds from stock option exercises during the years ended December 31, 2014 and 2013. During the year ended December 31, 2012, the Company received $2,175 in cash proceeds from legacy stock option exercises. | |||||||||||||||||||||
Stock repurchases | |||||||||||||||||||||
The Company did not repurchase any of its common stock during 2014, 2013 or 2012. As of December 31, 2014, the total outstanding authorization for share repurchases was approximately $358,200. The Company has not repurchased any additional shares of its common stock from January 1, 2015 through February 26, 2015. This stock repurchase program has no expiration date. | |||||||||||||||||||||
Charter documents & Delaware law | |||||||||||||||||||||
The Company’s charter documents include provisions that may deter hostile takeovers, delay or prevent changes of control or changes in management, or limit the ability of stockholders to approve transactions that they may otherwise determine to be in their best interests. These include provisions prohibiting stockholders from acting by written consent, requiring 90 days advance notice of stockholder proposals or nominations to the Board of Directors and granting the Board of Directors the authority to issue up to five million shares of preferred stock and to determine the rights and preferences of the preferred stock without the need for further stockholder approval. | |||||||||||||||||||||
The Company is also subject to Section 203 of the Delaware General Corporation Law that, subject to exceptions, would prohibit the Company from engaging in any business combinations with any interested stockholder, as defined in that section, for a period of three years following the date on which that stockholder became an interested stockholder. These restrictions may discourage, delay or prevent a change in the control of the Company. | |||||||||||||||||||||
Changes in DaVita HealthCare Partners Inc.’s ownership interest in consolidated subsidiaries | |||||||||||||||||||||
The effects of changes in DaVita HealthCare Partners Inc.’s ownership interest on the Company’s equity are as follows: | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 633,446 | $ | 536,017 | |||||||||||||||
Increase (decrease) in paid-in capital for sales of | 355 | (1,442 | ) | 1,064 | |||||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Decrease in paid-in capital for the purchase of a | (5,357 | ) | (3,119 | ) | (20,694 | ) | |||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Net transfer to noncontrolling interests | (5,002 | ) | (4,561 | ) | (19,630 | ) | |||||||||||||||
Change from net income attributable to DaVita | $ | 718,112 | $ | 628,885 | $ | 516,387 | |||||||||||||||
HealthCare Partners Inc. and transfers to | |||||||||||||||||||||
noncontrolling interests | |||||||||||||||||||||
During 2014, the Company acquired additional ownership interests in several existing majority-owned joint ventures for $17,876 in cash and deferred purchase price of $136. In 2013, the Company also acquired additional ownership interests in several existing majority-owned joint ventures for $3,569 in cash and deferred purchase price of $209. In 2012, the Company acquired additional ownership interest in several existing majority-owned joint ventures for $26,761. | |||||||||||||||||||||
Other_comprehensive_income_los
Other comprehensive income (loss) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Statement Of Income And Comprehensive Income [Abstract] | |||||||||||||||||
Other comprehensive income (loss) | 20 | Other comprehensive income (loss) | |||||||||||||||
Charges and credits to other comprehensive income (loss) have been as follows: | |||||||||||||||||
Interest rate | Investment | Foreign | Accumulated | ||||||||||||||
swap and cap | securities | currency | other | ||||||||||||||
agreements | translation | comprehensive | |||||||||||||||
adjustments | income (loss) | ||||||||||||||||
Balance at December 31, 2011 | $ | (19,328 | ) | $ | (156 | ) | $ | — | $ | (19,484 | ) | ||||||
Unrealized (losses) gains | (10,154 | ) | 2,524 | (1,205 | ) | (8,835 | ) | ||||||||||
Related income tax | 3,950 | (983 | ) | — | 2,967 | ||||||||||||
(6,204 | ) | 1,541 | (1,205 | ) | (5,868 | ) | |||||||||||
Reclassification from accumulated other | 16,578 | (123 | ) | — | 16,455 | ||||||||||||
comprehensive losses (income) into net income | |||||||||||||||||
Related income tax | (6,448 | ) | 48 | — | (6,400 | ) | |||||||||||
10,130 | (75 | ) | — | 10,055 | |||||||||||||
Balance at December 31, 2012 | $ | (15,402 | ) | $ | 1,310 | $ | (1,205 | ) | $ | (15,297 | ) | ||||||
Unrealized gains (losses) | 277 | 3,752 | (2,216 | ) | 1,813 | ||||||||||||
Related income tax | (108 | ) | (1,452 | ) | — | (1,560 | ) | ||||||||||
169 | 2,300 | (2,216 | ) | 253 | |||||||||||||
Reclassification from accumulated other | 21,096 | (802 | ) | — | 20,294 | ||||||||||||
comprehensive losses (income) into net income | |||||||||||||||||
Related income tax | (8,207 | ) | 312 | — | (7,895 | ) | |||||||||||
12,889 | (490 | ) | — | 12,399 | |||||||||||||
Balance at December 31, 2013 | $ | (2,344 | ) | $ | 3,120 | $ | (3,421 | ) | $ | (2,645 | ) | ||||||
Unrealized (losses) gains | (16,509 | ) | 425 | (22,952 | ) | (39,036 | ) | ||||||||||
Related income tax | 6,450 | (187 | ) | — | 6,263 | ||||||||||||
(10,059 | ) | 238 | (22,952 | ) | (32,773 | ) | |||||||||||
Reclassification from accumulated other | 17,409 | (340 | ) | — | 17,069 | ||||||||||||
comprehensive losses (income) into net income | |||||||||||||||||
Related income tax | (6,801 | ) | 133 | — | (6,668 | ) | |||||||||||
10,608 | (207 | ) | — | 10,401 | |||||||||||||
Balance at December 31, 2014 | $ | (1,795 | ) | $ | 3,151 | $ | (26,373 | ) | $ | (25,017 | ) | ||||||
The reclassification of net swap and cap realized losses into income are recorded as debt expense in the corresponding consolidated statements of income. See Note 14 to the consolidated financial statements for further details. | |||||||||||||||||
The reclassification of net investment realized gains into income are recorded in other income in the corresponding consolidated statements of income. See Note 9 to the consolidated financial statements for further details. | |||||||||||||||||
Acquisitions_and_discontinued_
Acquisitions and discontinued operations | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Combinations [Abstract] | |||||||||||||
Acquisitions and discontinued operations | 21 | Acquisitions and discontinued operations | |||||||||||
Routine acquisitions | |||||||||||||
During 2014, the Company acquired dialysis-related and other ancillary businesses consisting of 18 dialysis centers in the U.S., 7 dialysis centers outside of the U.S. and other medical businesses for a total of $272,094 in net cash and deferred purchase price and earn-outs of $23,781. During 2013, the Company acquired dialysis-related and other ancillary businesses consisting of 26 dialysis centers in the U.S., 38 dialysis centers outside of the U.S. and other medical businesses for a total of $310,394 in net cash and deferred purchase price of $24,683. During 2012, the Company acquired dialysis-related and other ancillary businesses consisting of 93 dialysis centers in the U.S., 13 dialysis centers outside of the U.S. and other medical businesses for a total of $648,318 in net cash and deferred purchase price of $6,101. | |||||||||||||
The assets and liabilities for all acquisitions were recorded at their estimated fair values at the dates of the acquisitions and are included in the Company’s financial statements and operating results from the effective dates of the acquisitions. For several of the 2014 acquisitions, certain income tax amounts are pending final evaluation and quantification of any pre-acquisition tax contingencies. | |||||||||||||
The following table summarizes the assets acquired and liabilities assumed in the above described transactions and recognized at their acquisition dates at estimated fair values, as well as the estimated fair value of the noncontrolling interests assumed in these transactions: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current assets | $ | 915 | $ | 7,215 | $ | 18,708 | |||||||
Property and equipment | 5,999 | 23,760 | 41,741 | ||||||||||
Amortizable intangible and other long-term assets | 95,293 | 80,646 | 90,296 | ||||||||||
Goodwill | 221,514 | 271,267 | 554,685 | ||||||||||
Long-term deferred income taxes | — | (5,666 | ) | (1,838 | ) | ||||||||
Noncontrolling interests assumed | (25,963 | ) | (22,880 | ) | (21,962 | ) | |||||||
Liabilities assumed | (1,883 | ) | (19,265 | ) | (27,211 | ) | |||||||
Aggregate purchase cost | $ | 295,875 | $ | 335,077 | $ | 654,419 | |||||||
Amortizable intangible assets acquired during 2014, 2013 and 2012 had weighted-average estimated useful lives of 10, 14 and 17 years, respectively. The majority of the intangibles assets acquired relate to customer relationships and non-compete agreements. The weighted-average amortization period for customer relationships was 10, 17, and 18 years, respectively. The weighted-average amortization period for non-compete agreements was 8, 9, and 8 years, respectively. The total amount of goodwill deductible for tax purposes associated with these acquisitions for 2014, 2013, and 2012 was approximately $175,247, $221,454 and $491,457, respectively. | |||||||||||||
2012 acquisition of HCP | |||||||||||||
On November 1, 2012, the Company completed the acquisition of HCP pursuant to an Agreement and Plan of Merger dated May 20, 2012, whereby HCP became a wholly-owned subsidiary of the Company. The operating results of HCP are included in the Company’s consolidated financial results from November 1, 2012. | |||||||||||||
The total consideration paid at closing for all of the outstanding common units of HCP was approximately $4,701,231, which consisted of $3,645,759 in cash, net of cash acquired, and 18,760,624 shares of the Company’s common stock valued at approximately $1,055,472. During 2013, the Company paid an additional $5,251 in cash for post-closing working capital adjustments. In addition, the acquisition agreement provides that as further consideration, the Company could have paid the common unit holders of HCP a total of up to an additional $275,000 in cash if certain performance targets were achieved by HCP in 2012 and 2013. These contingent earn-out obligations were settled as discussed below. | |||||||||||||
The following table summarizes the initial assets acquired and liabilities assumed in this transaction and recognized at the acquisition date at their estimated fair values at that date: | |||||||||||||
Current assets, net of cash acquired | $ | 321,235 | |||||||||||
Property and equipment | 102,382 | ||||||||||||
Intangible assets | 1,882,818 | ||||||||||||
Other long-term assets | 100,143 | ||||||||||||
Goodwill | 3,496,713 | ||||||||||||
Current liabilities assumed | (559,180 | ) | |||||||||||
Other long-term liabilities | (169,015 | ) | |||||||||||
Long-term deferred income taxes | (184,015 | ) | |||||||||||
Noncontrolling interests | (29,850 | ) | |||||||||||
$ | 4,961,231 | ||||||||||||
The initial allocations of purchase price were recorded at the estimated fair values of assets acquired and liabilities assumed based upon the best information available to management. The fair values of property and equipment, intangible assets, and contingent earn-out obligations were estimated by the Company with the assistance of an independent third party. During 2013, the Company completed the final valuations of medical claims reserves, certain noncontrolling interests and certain income tax amounts, including pre-acquisition tax contingencies that were previously unresolved. See below for further details regarding these final adjustments. | |||||||||||||
The amortizable intangible assets acquired in this transaction included $1,453,410 for customer relationships, $170,494 for trade names, $74,650 for non-compete agreements and $184,264 for provider network and practice management tools. See Note 7 to the consolidated financial statements. These amortizable intangible assets and liabilities are scheduled to be amortized on a straight-line method over a weighted-average amortization period of 17.2 years. The weighted-average amortization period for customer relationships is 20.0 years, trade names is 10.6 years, non-compete agreements is 5.7 years, and provider network and practice management tools is 7.0 years. | |||||||||||||
Of the goodwill recognized in this transaction, approximately $2,426,986 is expected to be deductible for tax purposes over the next 14 years, based on actual earn-out payments and assuming all other escrow release conditions are satisfied. | |||||||||||||
Contingent earn-out obligations | |||||||||||||
As a result of HCP achieving certain financial performance targets in 2012, the Company made earn-out payments of $136,954 on April 1, 2013 to the common unit holders of HCP. During 2013, the Company also reached an agreement with the representative of the former owners and option holders of HealthCare Partners Holdings, LLC to settle certain post-closing adjustments, including the 2013 contingent earn-out obligation for $68,750, which resulted in the Company recording a contingent earn-out obligation adjustment of $56,977 in operating income. | |||||||||||||
The Company has several contingent earn-out obligations associated with other acquisitions that could result in the Company paying the former shareholders of those acquired companies a total of up to approximately $134,321 or a portion of that amount if certain EBITDA performance targets and quality margins are met over the next two years, if certain percentages of operating income are met over the next three years or if certain percentages of other annual EBITDA targets are met. As of December 31, 2014, the Company has estimated the fair value of these contingent earn-out obligations to be $39,129. | |||||||||||||
Contingent earn-out obligations will be remeasured to fair value at each reporting date until the contingencies are resolved with changes in the liability due to the re-measurement recorded in earnings. See Note 24 to the consolidated financial statements for further details. Of the total contingent earn-out obligations of $39,129 recognized at December 31, 2014, a total of $15,614 is included in other liabilities and the remaining $23,515 is included in other long-term liabilities in the Company’s consolidated balance sheet. | |||||||||||||
The following is a reconciliation of changes in the contingent earn-out obligations for the year ended December 31, 2014: | |||||||||||||
Beginning balance, January 1, 2014 | $ | 28,058 | |||||||||||
Contingent earn-out obligations associated with acquisitions | 18,234 | ||||||||||||
Remeasurement of fair value | (4,448 | ) | |||||||||||
Payments of contingent earn-out obligations | (2,715 | ) | |||||||||||
$ | 39,129 | ||||||||||||
Discontinued operations | |||||||||||||
Divestiture of HomeChoice Partners, Inc. | |||||||||||||
On February 1, 2013, the Company completed the sale of HomeChoice Partners Inc. (HomeChoice) to BioScrip, Inc. pursuant to a stock purchase agreement (the Agreement) dated December 12, 2012 for $70,000 in cash, subject to various post-closing adjustments, of which the Company receives approximately 90% of the proceeds. The stock purchase agreement also provides that as additional consideration the Company could earn up to a total of 90% of $20,000 if certain performance amounts exceed certain thresholds over the next two years. However, HomeChoice performance amounts did not exceed any of the established thresholds in year one, accordingly, the Company now can only receive up to $9,000 of potential additional consideration under the remaining earn-out period. The Company has not yet assigned any value to this contingent receivable and will only recognize the estimated realizable value of this receivable when it becomes probable and reasonably estimable. The Company recorded a gain of approximately $13,375, net of tax, during 2013, related to this divestiture. | |||||||||||||
The operating results of HomeChoice have been reported as discontinued operations for all periods presented. | |||||||||||||
The results from discontinued operations related to HomeChoice were as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net revenues | — | $ | 6,351 | $ | 67,990 | ||||||||
Loss before income taxes | — | (223 | ) | (304 | ) | ||||||||
Income tax benefit | — | (84 | ) | (82 | ) | ||||||||
Loss from discontinued operations | $ | — | $ | (139 | ) | $ | (222 | ) | |||||
Net assets of discontinued operations related to HomeChoice as of February 1, 2013, were as follows: | |||||||||||||
Current assets | $ | 17,039 | |||||||||||
Property and equipment, net | 2,963 | ||||||||||||
Long-term assets | 28 | ||||||||||||
Goodwill | 31,853 | ||||||||||||
Liabilities and noncontrolling interests | (8,998 | ) | |||||||||||
Net assets from discontinued operations | $ | 42,885 | |||||||||||
Pro forma financial information (unaudited) | |||||||||||||
The following summary, prepared on a pro forma basis, combines the results of operations as if all acquisitions and divestitures in 2014 and 2013 had been consummated as of the beginning of 2013, after including the impact of certain adjustments such as amortization of intangibles, interest expense on acquisition financing and income tax effects. | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
(unaudited) | |||||||||||||
Pro forma net revenues | $ | 12,887,330 | $ | 12,160,749 | |||||||||
Pro forma net income attributable to DaVita HealthCare Partners Inc. | 733,490 | 651,204 | |||||||||||
Pro forma income from continuing operations attributable to DaVita HealthCare Partners Inc. | 733,490 | 651,204 | |||||||||||
Pro forma basic net income per share attributable to DaVita HealthCare Partners Inc. | 3.45 | 3.1 | |||||||||||
Pro forma diluted net income per share attributable to DaVita HealthCare Partners Inc. | 3.38 | 3.03 | |||||||||||
Variable_interest_entities
Variable interest entities | 12 Months Ended | |
Dec. 31, 2014 | ||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ||
Variable interest entities | 22 | Variable interest entities |
The Company relies on the operating activities of certain entities that it does not directly own or control, but over which it has indirect influence and of which it is considered the primary beneficiary. These entities are subject to the consolidation guidance applicable to variable interest entities (VIEs). | ||
Under U.S. GAAP, VIEs typically include (i) those for which the entity’s equity is not sufficient to finance its activities without additional subordinated financial support; (ii) those for which the equity holders as a group lack the power to direct the activities that most significantly influence the entity’s economic performance, the obligation to absorb the entity’s expected losses, or the right to receive the entity’s expected returns; or (iii) those for which the voting rights of some investors are not proportional to their obligations to absorb the entity’s losses. | ||
Under U.S. GAAP, the Company has determined that substantially all of the entities it is associated with that qualify as VIEs must be included in its consolidated financial statements. The Company manages these entities and provides operating and capital funding as necessary for the entities to accomplish their operational and strategic objectives. A number of these entities are subject to nominee share ownership or share transfer restriction agreements that effectively transfer the majority of the economic risks and rewards of their ownership to the Company. In other cases the Company’s management agreements with these entities include both financial terms and protective and participating rights to the entities’ operating, strategic and non-clinical governance decisions which transfer substantial powers over and economic responsibility for the entities to the Company. In some cases such entities are subject to broad exclusivity or noncompetition restrictions that benefit the Company. Further, in some cases the Company has contractual arrangements with its related party nominee owners that effectively indemnify these parties from the economic losses from, or entitle the Company to the economic benefits of, these entities. | ||
The analyses upon which these consolidation determinations rest are complex, involve uncertainties, and require significant judgment on various matters, some of which could be subject to different interpretations. At December 31, 2014, these consolidated financial statements include total assets of VIEs of $575,074 and total liabilities and noncontrolling interests of VIEs to third parties of $311,148. | ||
The Company also sponsors certain deferred compensation plans whose trusts qualify as VIEs and the Company consolidates each of these plans as their primary beneficiary. The assets of these plans are recorded in short-term or long-term investments with matching offsetting liabilities recorded in accrued compensation and benefits and other long-term liabilities. See Note 16 for disclosures on the assets of these consolidated non-qualified deferred compensation plans. |
Concentrations
Concentrations | 12 Months Ended | |
Dec. 31, 2014 | ||
Risks And Uncertainties [Abstract] | ||
Concentrations | 23 | Concentrations |
Approximately 67%, 66% and 66% of total U.S. dialysis and related lab services net revenues in 2014, 2013 and 2012, respectively, are from government-based programs, principally Medicare and Medicaid. Related accounts receivable and other receivables from Medicare, including Medicare-assigned plans, and Medicaid, including Medicaid-assigned plans, were approximately $705,532 and $679,006, as of December 31, 2014 and 2013, respectively. | ||
Approximately 71% and 69% of HCP’s revenues in 2014 and 2013, respectively, are from government-based programs, principally Medicare and Medicaid. Approximately 64% and 67% for 2014 and 2013, respectively, of HCP’s capitated and patient services revenues (medical revenues) are associated with three health plans. In addition, approximately 73% and 69% at December 31, 2014 and 2013, respectively, of HCP’s accounts receivables are associated with three health plans. | ||
There is no single payor that accounted for more than 10% of total consolidated accounts receivable at December 31, 2014 and 2013. | ||
EPO is a significant physician-prescribed pharmaceutical that is administered during dialysis and is provided by a sole supplier, Amgen. The amount of EPO that is separately billable accounted for approximately 2% of U.S. dialysis and related lab services net revenues in 2014 and 2013. As long as certain conditions are met by the Company, the agreement with Amgen limits their ability to unilaterally decide to increase the price it charges the Company for EPO. See Note 18 of the consolidated financial statements for further details. |
Fair_values_of_financial_instr
Fair values of financial instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair values of financial instruments | 24 | Fair values of financial instruments | |||||||||||||||
The Company measures the fair value of certain assets, liabilities and noncontrolling interests subject to put provisions (temporary equity) based upon certain valuation techniques that include observable or unobservable inputs and assumptions that market participants would use in pricing these assets, liabilities, temporary equity and commitments. The Company has also classified certain assets, liabilities and temporary equity that are measured at fair value into the appropriate fair value hierarchy levels as defined by FASB. | |||||||||||||||||
The following tables summarize the Company’s assets, liabilities and temporary equity measured at fair value on a recurring basis as of December 31, 2014 and 2013: | |||||||||||||||||
Total | Quoted prices in | Significant other | Significant | ||||||||||||||
active markets for | observable inputs | unobservable | |||||||||||||||
identical assets | (Level 2) | inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
31-Dec-14 | |||||||||||||||||
Assets | |||||||||||||||||
Available for sale securities | $ | 28,123 | $ | 28,123 | $ | — | $ | — | |||||||||
Interest rate cap agreements | $ | 13,934 | $ | — | $ | 13,934 | $ | — | |||||||||
Interest rate swap agreements | $ | 3,281 | $ | — | $ | 3,281 | $ | — | |||||||||
Funds on deposit with third parties | $ | 81,276 | $ | 81,276 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Interest rate swap agreements | $ | 1,457 | $ | — | $ | 1,457 | $ | — | |||||||||
Contingent earn-out obligations | $ | 39,129 | $ | — | $ | — | $ | 39,129 | |||||||||
Temporary equity | |||||||||||||||||
Noncontrolling interests subject to put provisions | $ | 829,965 | $ | — | $ | — | $ | 829,965 | |||||||||
31-Dec-13 | |||||||||||||||||
Assets | |||||||||||||||||
Available for sale securities | $ | 19,421 | $ | 19,421 | $ | — | $ | — | |||||||||
Interest rate cap agreements | $ | 7,567 | $ | — | $ | 7,567 | $ | — | |||||||||
Interest rate swap agreements | $ | 10,004 | $ | — | $ | 10,004 | $ | — | |||||||||
Funds on deposit with third parties | $ | 79,317 | $ | 79,317 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Interest rate swap agreements | $ | 12,069 | $ | — | $ | 12,069 | $ | — | |||||||||
Contingent earn-out obligations | $ | 28,058 | $ | — | $ | — | $ | 28,058 | |||||||||
Temporary equity | |||||||||||||||||
Noncontrolling interests subject to put provisions | $ | 697,300 | $ | — | $ | — | $ | 697,300 | |||||||||
The available for sale securities represent investments in various open-ended registered investment companies, or mutual funds, and are recorded at fair value based upon quoted prices reported by each mutual fund. See Note 9 to these consolidated financial statements for further discussion. | |||||||||||||||||
The interest rate swap and cap agreements are recorded at fair value based upon valuation models utilizing the income approach and commonly accepted valuation techniques that use inputs from closing prices for similar assets and liabilities in active markets as well as other relevant observable market inputs at quoted intervals such as current interest rates, forward yield curves, implied volatility and credit default swap pricing. The Company does not believe the ultimate amount that could be realized upon settlement of these interest rate swap and cap agreements would be materially different from the fair values currently reported. See Note 14 to the consolidated financial statements for further discussion. | |||||||||||||||||
The funds on deposit with third parties represent funds held with various third parties as required by regulation or contract and invested by those parties in various investments, which are measured at estimated fair value based primarily on quoted market prices. | |||||||||||||||||
The estimated fair value measurements of contingent earn-out obligations are primarily based on unobservable inputs including projected EBITDA, estimated probabilities of achieving gross margin of certain medical procedures and the estimated probability of earn-out payments being made using an option pricing technique and a simulation model for expected EBITDA and operating income. In addition, a probability adjusted model was used to estimate the fair values of the quality results amounts. The estimated fair value of these contingent earn-out obligations will be remeasured as of each reporting date and could fluctuate based upon any significant changes in key assumptions, such as changes in the Company credit risk adjusted rate that is used to discount obligations to present value. | |||||||||||||||||
See Note 18 to these consolidated financial statements for a discussion of the Company’s methodology for estimating the fair value of noncontrolling interests subject to put obligations. | |||||||||||||||||
Other financial instruments consist primarily of cash, accounts receivable, life insurance contracts, accounts payable, other accrued liabilities and debt. The balances of the non-debt financial instruments are presented in the consolidated financial statements at December 31, 2014 and 2013 at their approximate fair values due to the short-term nature of their settlements. The carrying balance of the Company’s Senior Secured Credit Facilities totaled $4,441,292 as of December 31, 2014, and the fair value was approximately $4,420,238 based upon quoted market prices. The fair value of the Company’s senior notes was approximately $3,924,715 at December 31, 2014 based upon quoted market prices, as compared to the carrying amount of $3,775,000. | |||||||||||||||||
Segment_reporting
Segment reporting | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Segment reporting | 25 | Segment reporting | |||||||||||
The Company operates two major divisions, Kidney Care and HCP. The Kidney Care division is comprised of the Company’s U.S. dialysis and related lab services business, various other ancillary services and strategic initiatives, including its international dialysis operations, and the Company’s corporate support costs. The Company’s U.S. dialysis and related lab services business is the Company’s largest line of business, and is a leading provider of kidney dialysis services in the U.S. for patients suffering from chronic kidney failure, also known as ESRD. The Company’s HCP division is a patient- and physician-focused integrated health care delivery and management company with nearly three decades of providing coordinated outcomes-based medical care in a cost-effective manner. | |||||||||||||
As of December 31, 2014, the ancillary services and strategic initiatives consisted primarily of pharmacy services, disease management services, vascular access services, clinical research programs, physician services, direct primary care and the Company’s international dialysis operations. | |||||||||||||
The Company’s operating segments have been defined based on the separate financial information that is regularly produced and reviewed by the Company’s chief operating decision maker in making decisions about allocating resources to and assessing the financial results of the Company’s different operating lines of business. The chief operating decision maker for the Company is its Chief Executive Officer. | |||||||||||||
The Company’s separate operating segments include its U.S. dialysis and related lab services business, its HCP operations in each region, each of its ancillary services and strategic initiatives, and its international operations in the European and Middle Eastern, Asia Pacific, and Latin American regions. The U.S. dialysis and related lab services business and the HCP business each qualify as separately reportable segments, while all of the other ancillary services and strategic initiatives operating segments, including the international operating segments, have been combined and disclosed in the other segments category. | |||||||||||||
The Company’s operating segment financial information included in this report is prepared on the internal management reporting basis that the chief operating decision maker uses to allocate resources and assess the financial results of the operating segments. For internal management reporting, segment operations include direct segment operating expenses but exclude (i) the HCP contingent earn-out obligation adjustment, (ii) corporate support costs, which consists primarily of indirect labor, benefits and long-term incentive based compensation of certain departments which provide support to all of the Company’s different operating lines of business, (iii) the reduction of a tax asset associated with the HCP acquisition escrow provisions, and (iv) transaction expenses in 2012 associated with the HCP acquisition. | |||||||||||||
The following is a summary of segment revenues, segment operating margin (loss), and a reconciliation of segment operating margin to consolidated income from continuing operations before income taxes: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Segment revenues: | |||||||||||||
U.S. dialysis and related lab services | |||||||||||||
Patient service revenues: | |||||||||||||
External sources | $ | 8,513,089 | $ | 7,998,692 | $ | 7,299,032 | |||||||
Intersegment revenues | 37,112 | 34,080 | 17,786 | ||||||||||
Total dialysis and related lab services revenues | 8,550,201 | 8,032,772 | 7,316,818 | ||||||||||
Less: Provision for uncollectible accounts | (353,028 | ) | (281,146 | ) | (233,580 | ) | |||||||
Net dialysis and related lab services patient | 8,197,173 | 7,751,626 | 7,083,238 | ||||||||||
service revenues | |||||||||||||
Other revenues(1) | 13,498 | 12,600 | 11,447 | ||||||||||
Total net dialysis and related lab services | 8,210,671 | 7,764,226 | 7,094,685 | ||||||||||
revenues | |||||||||||||
HCP | |||||||||||||
HCP revenues: | |||||||||||||
Capitated revenues | $ | 3,190,903 | $ | 2,919,964 | $ | 419,431 | |||||||
Net patient service revenues | 219,306 | 220,251 | 34,407 | ||||||||||
Other revenues(2) | 91,374 | 55,723 | 23,552 | ||||||||||
Intersegment capitated and other revenues | 716 | 250 | — | ||||||||||
Total revenues | $ | 3,502,299 | $ | 3,196,188 | $ | 477,390 | |||||||
Other - Ancillary services and strategic initiatives | |||||||||||||
Net patient service revenues | $ | 122,087 | $ | 75,852 | $ | 16,824 | |||||||
Capitated revenues | 70,385 | 67,351 | 61,906 | ||||||||||
Other external sources | 927,492 | 694,763 | 553,261 | ||||||||||
Intersegment revenues | 19,535 | 13,916 | 10,481 | ||||||||||
Total ancillary services and strategic initiatives | 1,139,499 | 851,882 | 642,472 | ||||||||||
revenues | |||||||||||||
Total net segment revenues | 12,852,469 | 11,812,296 | 8,214,547 | ||||||||||
Elimination of intersegment revenues | (57,363 | ) | (48,246 | ) | (28,267 | ) | |||||||
Consolidated net revenues | $ | 12,795,106 | $ | 11,764,050 | $ | 8,186,280 | |||||||
Segment operating margin (loss):(3) | |||||||||||||
U.S. dialysis and related lab services | $ | 1,637,626 | $ | 1,200,198 | $ | 1,372,265 | |||||||
HCP | 214,983 | 385,253 | 66,930 | ||||||||||
Other——Ancillary services and strategic initiatives | (24,456 | ) | (38,595 | ) | (64,877 | ) | |||||||
Total segment margin | 1,828,153 | 1,546,856 | 1,374,318 | ||||||||||
Reconciliation of segment operating margin to | |||||||||||||
consolidated income from continuing operations before | |||||||||||||
income taxes: | |||||||||||||
Contingent earn-out obligation adjustment | — | 56,977 | — | ||||||||||
Corporate support costs(4) | (13,012 | ) | (53,699 | ) | (46,481 | ) | |||||||
Transaction expenses | — | — | (30,753 | ) | |||||||||
Consolidated operating income | 1,815,141 | 1,550,134 | 1,297,084 | ||||||||||
Debt expense | (410,294 | ) | (429,943 | ) | (288,554 | ) | |||||||
Debt refinancing and redemption charges | (97,548 | ) | — | (10,963 | ) | ||||||||
Other income | 2,374 | 4,787 | 3,737 | ||||||||||
Consolidated income from continuing | $ | 1,309,673 | $ | 1,124,978 | $ | 1,001,304 | |||||||
operations before income taxes | |||||||||||||
-1 | Includes management fees for providing management and administrative services to dialysis centers in which the Company owns a minority equity investment or which are wholly-owned by third parties. | ||||||||||||
-2 | Other revenues primarily relate to providing medical consulting services. | ||||||||||||
-3 | Certain costs previously reported in the ancillary services and strategic initiatives have been reclassified to U.S. dialysis and related lab services to conform to the current year presentation. | ||||||||||||
-4 | Corporate support costs in 2013 also include $7,721 of an adjustment to reduce a tax asset associated with the HCP acquisition escrow provisions. | ||||||||||||
Depreciation and amortization expense by segment is as follows: | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. dialysis and related lab services | $ | 402,767 | $ | 355,879 | $ | 310,375 | |||||||
HCP | 169,485 | 158,356 | 24,544 | ||||||||||
Other - Ancillary services and strategic initiatives | 18,683 | 14,502 | 7,050 | ||||||||||
$ | 590,935 | $ | 528,737 | $ | 341,969 | ||||||||
Summary of assets by segment is as follows: | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Segment assets | |||||||||||||
U.S. dialysis and related lab services (including equity investments of $28,138 and $27,009, respectively) | $ | 10,959,096 | $ | 10,248,993 | |||||||||
HCP (including equity investments of $15,393 and $13,677, respectively) | 6,285,984 | 6,265,767 | |||||||||||
Other - —Ancillary services and strategic initiatives(1) (including equity investments of $22,106 in 2014) | 697,635 | 584,117 | |||||||||||
Consolidated assets | $ | 17,942,715 | $ | 17,098,877 | |||||||||
-1 | Includes approximately $44,000 and $26,000 in 2014 and 2013, respectively, of net property and equipment related to the Company’s international operations. | ||||||||||||
Expenditures for property and equipment by segment is as follows: | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. dialysis and related lab services | $ | 560,610 | $ | 554,345 | $ | 524,180 | |||||||
HCP | 27,885 | 31,582 | 7,464 | ||||||||||
Other - Ancillary services and strategic initiatives | 52,835 | 31,670 | 18,502 | ||||||||||
$ | 641,330 | $ | 617,597 | $ | 550,146 | ||||||||
Supplemental_cash_flow_informa
Supplemental cash flow information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||
Supplemental cash flow information | 26 | Supplemental cash flow information | |||||||||||
The table below provides supplemental cash flow information: | |||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash paid: | |||||||||||||
Income taxes | $ | 238,615 | $ | 341,426 | $ | 322,018 | |||||||
Interest | 351,967 | 405,030 | 257,640 | ||||||||||
Non-cash investing and financing activities: | |||||||||||||
Fixed assets under capital lease obligations | 72,389 | 60,920 | 55,813 | ||||||||||
Selected_quarterly_financial_d
Selected quarterly financial data (unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Selected quarterly financial data (unaudited) | 27 | Selected quarterly financial data (unaudited) | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
31-Dec | 30-Sep | 30-Jun | 31-Mar | 31-Dec | 30-Sep | 30-Jun | 31-Mar | ||||||||||||||||||||||||||
Net revenues | $ | 3,328,017 | $ | 3,251,824 | $ | 3,172,489 | $ | 3,042,776 | $ | 3,063,209 | $ | 2,999,586 | $ | 2,871,673 | $ | 2,829,582 | |||||||||||||||||
Operating income | $ | 452,085 | $ | 437,536 | $ | 484,295 | $ | 441,225 | $ | 484,179 | $ | 377,074 | $ | 522,020 | $ | 166,861 | |||||||||||||||||
Income from continuing operations | $ | 354,365 | $ | 336,412 | $ | 282,308 | $ | 336,588 | $ | 380,020 | $ | 270,766 | $ | 412,550 | $ | 61,642 | |||||||||||||||||
before income taxes | |||||||||||||||||||||||||||||||||
Discontinued operations, net of tax. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 13,236 | |||||||||||||||||
Net income attributable to DaVita | $ | 208,020 | $ | 184,122 | $ | 147,683 | $ | 183,289 | $ | 212,278 | $ | 136,628 | $ | 254,376 | $ | 30,164 | |||||||||||||||||
HealthCare Partners Inc. | |||||||||||||||||||||||||||||||||
Basic income from continuing | $ | 0.98 | $ | 0.87 | $ | 0.7 | $ | 0.87 | $ | 1.01 | $ | 0.65 | $ | 1.21 | $ | 0.08 | |||||||||||||||||
operations per share attributable | |||||||||||||||||||||||||||||||||
to DaVita HealthCare Partners Inc. | |||||||||||||||||||||||||||||||||
Basic net income per share | $ | 0.98 | $ | 0.87 | $ | 0.7 | $ | 0.87 | $ | 1.01 | $ | 0.65 | $ | 1.21 | $ | 0.14 | |||||||||||||||||
attributable to DaVita HealthCare | |||||||||||||||||||||||||||||||||
Partners Inc. | |||||||||||||||||||||||||||||||||
Diluted income from continuing | $ | 0.96 | $ | 0.85 | $ | 0.68 | $ | 0.85 | $ | 0.99 | $ | 0.64 | $ | 1.18 | $ | 0.08 | |||||||||||||||||
operations per share attributable | |||||||||||||||||||||||||||||||||
to DaVita HealthCare Partners Inc. | |||||||||||||||||||||||||||||||||
Diluted net income per share | $ | 0.96 | $ | 0.85 | $ | 0.68 | $ | 0.85 | $ | 0.99 | $ | 0.64 | $ | 1.18 | $ | 0.14 | |||||||||||||||||
attributable to DaVita HealthCare | |||||||||||||||||||||||||||||||||
Partners Inc. | |||||||||||||||||||||||||||||||||
Consolidating_financial_statem
Consolidating financial statements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |||||||||||||||||||||
Consolidating financial statements | 28 | Consolidating financial statements | |||||||||||||||||||
The following information is presented in accordance with Rule 3-10 of Regulation S-X. The operating and investing activities of the separate legal entities included in the Company’s consolidated financial statements are fully interdependent and integrated. Revenues and operating expenses of the separate legal entities include intercompany charges for management and other services. The Company’s senior notes are guaranteed by substantially all of its domestic subsidiaries. Each of the guarantor subsidiaries has guaranteed the notes on a joint and several basis. However, the guarantor subsidiaries can be released from their obligations in the event of a sale or other disposition of all or substantially all of the assets of such subsidiary, including by merger or consolidation or the sale of all equity interests in such subsidiary owned by the Company, if such subsidiary guarantor is designated as an unrestricted subsidiary or otherwise ceases to be a restricted subsidiary, and if such subsidiary guarantor no longer guaranties any other indebtedness of the Company. Certain domestic subsidiaries, foreign subsidiaries, joint ventures, partnerships and third parties are not guarantors of the senior notes. | |||||||||||||||||||||
Consolidating Statements of Income | |||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 6,246,683 | $ | 2,739,996 | $ | (118,341 | ) | $ | 8,868,338 | ||||||||||
Less: Provision for uncollectible accounts | — | (238,600 | ) | (128,284 | ) | — | (366,884 | ) | |||||||||||||
Net patient service revenues | — | 6,008,083 | 2,611,712 | (118,341 | ) | 8,501,454 | |||||||||||||||
Capitated revenues | — | 1,689,634 | 1,579,804 | (8,150 | ) | 3,261,288 | |||||||||||||||
Other revenues | 684,066 | 1,639,828 | 24,155 | (1,315,685 | ) | 1,032,364 | |||||||||||||||
Total net revenues | 684,066 | 9,337,545 | 4,215,671 | (1,442,176 | ) | 12,795,106 | |||||||||||||||
Operating expenses and charges | 443,951 | 8,276,991 | 3,701,199 | (1,442,176 | ) | 10,979,965 | |||||||||||||||
Operating income | 240,115 | 1,060,554 | 514,472 | — | 1,815,141 | ||||||||||||||||
Debt (expense) and refinancing charges | (502,762 | ) | (363,623 | ) | (43,449 | ) | 401,992 | (507,842 | ) | ||||||||||||
Other income, net | 385,532 | 11,731 | 7,103 | (401,992 | ) | 2,374 | |||||||||||||||
Income tax expense | 46,856 | 397,268 | 2,219 | — | 446,343 | ||||||||||||||||
Equity earnings in subsidiaries | 647,085 | 335,691 | — | (982,776 | ) | — | |||||||||||||||
Net income | 723,114 | 647,085 | 475,907 | (982,776 | ) | 863,330 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (140,216 | ) | (140,216 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (1,122,992 | ) | $ | 723,114 | ||||||||||
Consolidating Statements of Income | |||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 5,989,658 | $ | 2,420,975 | $ | (103,438 | ) | $ | 8,307,195 | ||||||||||
Less: Provision for uncollectible accounts | — | (177,415 | ) | (116,131 | ) | — | (293,546 | ) | |||||||||||||
Net patient service revenues | — | 5,812,243 | 2,304,844 | (103,438 | ) | 8,013,649 | |||||||||||||||
Capitated revenues | — | 1,427,321 | 1,560,244 | (250 | ) | 2,987,315 | |||||||||||||||
Other revenues | 616,155 | 1,534,310 | 17,867 | (1,405,246 | ) | 763,086 | |||||||||||||||
Total net revenues | 616,155 | 8,773,874 | 3,882,955 | (1,508,934 | ) | 11,764,050 | |||||||||||||||
Operating expenses and charges | 434,776 | 7,843,476 | 3,444,598 | (1,508,934 | ) | 10,213,916 | |||||||||||||||
Operating income | 181,379 | 930,398 | 438,357 | — | 1,550,134 | ||||||||||||||||
Debt (expense) | (427,141 | ) | (366,188 | ) | (39,413 | ) | 402,799 | (429,943 | ) | ||||||||||||
Other income, net | 402,910 | 1,903 | 2,773 | (402,799 | ) | 4,787 | |||||||||||||||
Income tax expense | 59,716 | 303,603 | 17,694 | — | 381,013 | ||||||||||||||||
Equity earnings in subsidiaries | 536,014 | 260,268 | — | (796,282 | ) | — | |||||||||||||||
Income from continuing operations | 633,446 | 522,778 | 384,023 | (796,282 | ) | 743,965 | |||||||||||||||
Discontinued operations net of gain on disposal | — | — | 13,236 | — | 13,236 | ||||||||||||||||
of discontinued operations | |||||||||||||||||||||
Net income | 633,446 | 522,778 | 397,259 | (796,282 | ) | 757,201 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (123,755 | ) | (123,755 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (920,037 | ) | $ | 633,446 | ||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 5,417,800 | $ | 2,005,424 | $ | (71,322 | ) | $ | 7,351,902 | ||||||||||
Less: Provision for uncollectible accounts | — | (124,592 | ) | (110,626 | ) | — | (235,218 | ) | |||||||||||||
Net patient service revenues | — | 5,293,208 | 1,894,798 | (71,322 | ) | 7,116,684 | |||||||||||||||
Capitated revenues | — | 232,744 | 248,592 | — | 481,336 | ||||||||||||||||
Other revenues | 514,190 | 745,920 | 10,190 | (682,040 | ) | 588,260 | |||||||||||||||
Total net revenues | 514,190 | 6,271,872 | 2,153,580 | (753,362 | ) | 8,186,280 | |||||||||||||||
Operating expenses and charges | 365,680 | 5,479,531 | 1,797,347 | (753,362 | ) | 6,889,196 | |||||||||||||||
Operating income | 148,510 | 792,341 | 356,233 | — | 1,297,084 | ||||||||||||||||
Debt (expense) and refinancing charges | (331,944 | ) | (207,499 | ) | (27,193 | ) | 267,119 | (299,517 | ) | ||||||||||||
Other income, net | 265,508 | 4,305 | 1,043 | (267,119 | ) | 3,737 | |||||||||||||||
Income tax expense | 32,912 | 320,267 | 6,666 | — | 359,845 | ||||||||||||||||
Equity earnings in subsidiaries | 486,855 | 218,197 | — | (705,052 | ) | — | |||||||||||||||
Income from continuing operations | 536,017 | 487,077 | 323,417 | (705,052 | ) | 641,459 | |||||||||||||||
Discontinued operations | — | — | (222 | ) | — | (222 | ) | ||||||||||||||
Net income | 536,017 | 487,077 | 323,195 | (705,052 | ) | 641,237 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (105,220 | ) | (105,220 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (810,272 | ) | $ | 536,017 | ||||||||||
Consolidating Statements of Comprehensive Income | |||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Net income | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (982,776 | ) | $ | 863,330 | ||||||||||
Other comprehensive income (losses) | 580 | — | (22,952 | ) | — | (22,372 | ) | ||||||||||||||
Total comprehensive income | 723,694 | 647,085 | 452,955 | (982,776 | ) | 840,958 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (140,216 | ) | (140,216 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 723,694 | $ | 647,085 | $ | 452,955 | $ | (1,122,992 | ) | $ | 700,742 | ||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Net income | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (796,282 | ) | $ | 757,201 | ||||||||||
Other comprehensive income (losses) | 14,868 | — | (2,216 | ) | — | 12,652 | |||||||||||||||
Total comprehensive income | 648,314 | 522,778 | 395,043 | (796,282 | ) | 769,853 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (123,755 | ) | (123,755 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 648,314 | $ | 522,778 | $ | 395,043 | $ | (920,037 | ) | $ | 646,098 | ||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Net income | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (705,052 | ) | $ | 641,237 | ||||||||||
Other comprehensive income (losses) | 5,392 | — | (1,205 | ) | — | 4,187 | |||||||||||||||
Total comprehensive income | 541,409 | 487,077 | 321,990 | (705,052 | ) | 645,424 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (105,220 | ) | (105,220 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 541,409 | $ | 487,077 | $ | 321,990 | $ | (810,272 | ) | $ | 540,204 | ||||||||||
Partners Inc. | |||||||||||||||||||||
Consolidating Balance Sheets | |||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Cash and cash equivalents | $ | 698,876 | $ | 77,921 | $ | 188,444 | $ | — | $ | 965,241 | |||||||||||
Accounts receivable, net | — | 915,851 | 609,998 | — | 1,525,849 | ||||||||||||||||
Other current assets | 362,672 | 930,093 | 92,942 | — | 1,385,707 | ||||||||||||||||
Total current assets | 1,061,548 | 1,923,865 | 891,384 | — | 3,876,797 | ||||||||||||||||
Property and equipment, net | 195,690 | 1,473,188 | 800,221 | — | 2,469,099 | ||||||||||||||||
Intangible assets, net | 85,338 | 1,811,218 | 52,942 | — | 1,949,498 | ||||||||||||||||
Investments in subsidiaries | 8,868,335 | 1,561,195 | — | (10,429,530 | ) | — | |||||||||||||||
Intercompany receivables | 3,723,454 | — | 564,241 | (4,287,695 | ) | — | |||||||||||||||
Other long-term assets and investments | 70,309 | 60,385 | 101,332 | — | 232,026 | ||||||||||||||||
Goodwill | — | 7,958,221 | 1,457,074 | — | 9,415,295 | ||||||||||||||||
Total assets | $ | 14,004,674 | $ | 14,788,072 | $ | 3,867,194 | $ | (14,717,225 | ) | $ | 17,942,715 | ||||||||||
Current liabilities | $ | 180,977 | $ | 1,493,243 | $ | 414,432 | $ | — | $ | 2,088,652 | |||||||||||
Intercompany payables | — | 3,105,173 | 1,182,522 | (4,287,695 | ) | — | |||||||||||||||
Long-term debt and other long-term liabilities | 8,124,863 | 1,321,321 | 217,603 | — | 9,663,787 | ||||||||||||||||
Noncontrolling interests subject to put provisions | 528,321 | — | — | 301,644 | 829,965 | ||||||||||||||||
Total DaVita HealthCare Partners Inc. | 5,170,513 | 8,868,335 | 1,561,195 | (10,429,530 | ) | 5,170,513 | |||||||||||||||
shareholders’' equity | |||||||||||||||||||||
Noncontrolling interests not subject to put provisions | — | — | 491,442 | (301,644 | ) | 189,798 | |||||||||||||||
Total equity | 5,170,513 | 8,868,335 | 2,052,637 | (10,731,174 | ) | 5,360,311 | |||||||||||||||
Total liabilities and equity | $ | 14,004,674 | $ | 14,788,072 | $ | 3,867,194 | $ | (14,717,225 | ) | $ | 17,942,715 | ||||||||||
As of December 31, 2013 | |||||||||||||||||||||
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 | 904,852 | 108,104 | — | 1,040,866 | ||||||||||||||||
Total current assets | 630,098 | 2,019,399 | 822,781 | — | 3,472,278 | ||||||||||||||||
Property and equipment, net | 177,633 | 1,378,017 | 633,761 | — | 2,189,411 | ||||||||||||||||
Intangible assets, net | 77,531 | 1,882,685 | 64,157 | — | 2,024,373 | ||||||||||||||||
Investments in subsidiaries | 8,231,059 | 1,391,655 | — | (9,622,714 | ) | — | |||||||||||||||
Intercompany receivables | 3,983,214 | — | 480,993 | (4,464,207 | ) | — | |||||||||||||||
Other long-term assets and investments | 61,391 | 70,728 | 67,722 | — | 199,841 | ||||||||||||||||
Goodwill | — | 7,850,910 | 1,362,064 | — | 9,212,974 | ||||||||||||||||
Total assets | $ | 13,160,926 | $ | 14,593,394 | $ | 3,431,478 | $ | (14,086,921 | ) | $ | 17,098,877 | ||||||||||
Current liabilities | $ | 328,875 | $ | 1,776,419 | $ | 356,755 | $ | — | $ | 2,462,049 | |||||||||||
Intercompany payables | — | 3,426,433 | 1,037,774 | (4,464,207 | ) | — | |||||||||||||||
Long-term debt and other long-term liabilities | 7,948,390 | 1,159,483 | 226,114 | — | 9,333,987 | ||||||||||||||||
Noncontrolling interests subject to put provisions | 451,182 | — | — | 246,118 | 697,300 | ||||||||||||||||
Total DaVita HealthCare Partners Inc. | 4,432,479 | 8,231,059 | 1,391,655 | (9,622,714 | ) | 4,432,479 | |||||||||||||||
shareholders’' equity | |||||||||||||||||||||
Noncontrolling interests not subject to put provisions | — | — | 419,180 | (246,118 | ) | 173,062 | |||||||||||||||
Total equity | 4,432,479 | 8,231,059 | 1,810,835 | (9,868,832 | ) | 4,605,541 | |||||||||||||||
Total liabilities and equity | $ | 13,160,926 | $ | 14,593,394 | $ | 3,431,478 | $ | (14,086,921 | ) | $ | 17,098,877 | ||||||||||
Consolidating Statements of Cash Flows | |||||||||||||||||||||
DaVita | Guarantor | Non-Guarantor | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Subsidiaries | Adjustments | Total | |||||||||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (982,776 | ) | $ | 863,330 | ||||||||||
Changes in operating assets and liabilities and non cash | (597,992 | ) | 120,772 | 90,521 | 982,776 | 596,077 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 125,122 | 767,857 | 566,428 | — | 1,459,407 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (51,374 | ) | (312,191 | ) | (277,765 | ) | — | (641,330 | ) | ||||||||||||
Acquisitions | — | (228,569 | ) | (43,525 | ) | — | (272,094 | ) | |||||||||||||
Proceeds from asset sales | — | 8,791 | — | — | 8,791 | ||||||||||||||||
Purchase of investments and other items | (333,803 | ) | (316 | ) | (38,977 | ) | — | (373,096 | ) | ||||||||||||
Net cash (used in) provided by investing activities | (385,177 | ) | (532,285 | ) | (360,267 | ) | — | (1,277,729 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | 4,513 | (12,545 | ) | 43 | — | (7,989 | ) | ||||||||||||||
Intercompany borrowing | 410,437 | (306,011 | ) | (104,426 | ) | — | — | ||||||||||||||
Other items | (58,207 | ) | (14,099 | ) | (84,684 | ) | — | (156,990 | ) | ||||||||||||
Net cash provided by (used in) financing activities | 356,743 | (332,655 | ) | (189,067 | ) | — | (164,979 | ) | |||||||||||||
Effect of exchange rate changes on cash | — | — | 2,293 | — | 2,293 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 96,688 | (97,083 | ) | 19,387 | — | 18,992 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 602,188 | 175,004 | 169,057 | — | 946,249 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 698,876 | $ | 77,921 | $ | 188,444 | $ | — | $ | 965,241 | |||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (796,282 | ) | $ | 757,201 | ||||||||||
Changes in operating assets and liabilities and non cash | (443,071 | ) | 652,374 | 10,555 | 796,282 | 1,016,140 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 190,375 | 1,175,152 | 407,814 | — | 1,773,341 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (55,252 | ) | (337,042 | ) | (225,303 | ) | — | (617,597 | ) | ||||||||||||
Acquisitions | — | (156,830 | ) | (153,564 | ) | — | (310,394 | ) | |||||||||||||
Proceeds from asset sales | 60,650 | 1,608 | — | — | 62,258 | ||||||||||||||||
Purchase of investments and other items | (4,944 | ) | (3,502 | ) | (2,703 | ) | — | (11,149 | ) | ||||||||||||
Net cash provided by (used in) by investing activities | 454 | (495,766 | ) | (381,570 | ) | — | (876,882 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | (421,739 | ) | (11,061 | ) | (5,207 | ) | — | (438,007 | ) | ||||||||||||
Intercompany borrowing | 585,441 | (664,154 | ) | 78,713 | — | — | |||||||||||||||
Other items | 52,620 | 4,726 | (102,330 | ) | — | (44,984 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | 216,322 | (670,489 | ) | (28,824 | ) | — | (482,991 | ) | |||||||||||||
Effect of exchange rate changes on cash | — | — | (967 | ) | — | (967 | ) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | 407,151 | 8,897 | (3,547 | ) | — | 412,501 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 195,037 | 166,107 | 172,604 | — | 533,748 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 602,188 | $ | 175,004 | $ | 169,057 | $ | — | $ | 946,249 | |||||||||||
Consolidating Statements of Cash Flows | |||||||||||||||||||||
DaVita | Guarantor | Non-Guarantor | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Subsidiaries | Adjustments | Total | |||||||||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (705,052 | ) | $ | 641,237 | ||||||||||
Changes in operating assets and liabilities and non cash | (383,619 | ) | 15,693 | 122,485 | 705,052 | 459,611 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 152,398 | 502,770 | 445,680 | — | 1,100,848 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (72,125 | ) | (305,885 | ) | (172,136 | ) | — | (550,146 | ) | ||||||||||||
Acquisitions | (3,645,760 | ) | (564,499 | ) | (83,818 | ) | — | (4,294,077 | ) | ||||||||||||
Proceeds from asset sales | — | 3,559 | — | — | 3,559 | ||||||||||||||||
Proceeds from investment sales and other items | 2,841 | (1,761 | ) | 7,134 | — | 8,214 | |||||||||||||||
Net cash used in by investing activities | (3,715,044 | ) | (868,586 | ) | (248,820 | ) | — | (4,832,450 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | 3,909,760 | (23,805 | ) | 18,938 | — | 3,904,893 | |||||||||||||||
Intercompany borrowing | (586,050 | ) | 580,825 | 5,225 | — | — | |||||||||||||||
Other items | 68,697 | (25,097 | ) | (76,109 | ) | — | (32,509 | ) | |||||||||||||
Net cash provided by (used in) financing activities | 3,392,407 | 531,923 | (51,946 | ) | — | 3,872,384 | |||||||||||||||
Effect of exchange rate changes on cash | — | — | (786 | ) | — | (786 | ) | ||||||||||||||
Net (decrease) increase in cash and cash equivalents | (170,239 | ) | 166,107 | 144,128 | — | 139,996 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 365,276 | — | 28,476 | — | 393,752 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 195,037 | $ | 166,107 | $ | 172,604 | $ | — | $ | 533,748 | |||||||||||
Supplemental_data
Supplemental data | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |||||||||||||||||
Supplemental data (unaudited) | DAVITA HEALTHCARE PARTNERS INC. | ||||||||||||||||
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(continued) | |||||||||||||||||
(dollars in thousands, except per share data) | |||||||||||||||||
29. Supplemental data (unaudited) | |||||||||||||||||
The following information is presented as supplemental data as required by the indentures governing our senior notes. | |||||||||||||||||
Condensed Consolidating Statements of Income | |||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||
Patient services revenues | $ | 8,868,338 | $ | 121,929 | $ | — | $ | 8,746,409 | |||||||||
Less: Provision for uncollectible accounts | (366,884 | ) | (8,534 | ) | — | (358,350 | ) | ||||||||||
Net patient service revenues | 8,501,454 | 113,395 | — | 8,388,059 | |||||||||||||
Capitated revenues | 3,261,288 | 1,511,000 | — | 1,750,288 | |||||||||||||
Other revenues | 1,032,364 | 6,630 | — | 1,025,734 | |||||||||||||
Total net revenues | 12,795,106 | 1,631,025 | — | 11,164,081 | |||||||||||||
Operating expenses and charges | 10,979,965 | 1,601,027 | 514 | 9,378,424 | |||||||||||||
Operating income | 1,815,141 | 29,998 | (514 | ) | 1,785,657 | ||||||||||||
Debt (expense) and refinancing charges | (507,842 | ) | (11,113 | ) | — | (496,729 | ) | ||||||||||
Other income, net | 2,374 | 238 | — | 2,136 | |||||||||||||
Income tax expense | 446,343 | 1,866 | (206 | ) | 444,683 | ||||||||||||
Net income | 863,330 | 17,257 | (308 | ) | 846,381 | ||||||||||||
Less: Net income attributable to noncontrolling interests | (140,216 | ) | — | — | (140,216 | ) | |||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 17,257 | $ | (308 | ) | $ | 706,165 | ||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Patient services revenues | $ | 8,307,195 | $ | 122,873 | $ | — | $ | 8,184,322 | |||||||||
Less: Provision for uncollectible accounts | (293,546 | ) | (6,602 | ) | — | (286,944 | ) | ||||||||||
Net patient service revenues | 8,013,649 | 116,271 | — | 7,897,378 | |||||||||||||
Capitated revenues | 2,987,315 | 1,560,244 | — | 1,427,071 | |||||||||||||
Other revenues | 763,086 | 5,239 | — | 757,847 | |||||||||||||
Total net revenues | 11,764,050 | 1,681,754 | — | 10,082,296 | |||||||||||||
Operating expenses and charges | 10,213,916 | 1,659,151 | 457 | 8,554,308 | |||||||||||||
Operating income | 1,550,134 | 22,603 | (457 | ) | 1,527,988 | ||||||||||||
Debt (expense) | (429,943 | ) | (14,605 | ) | — | (415,338 | ) | ||||||||||
Other income, net | 4,787 | 6 | — | 4,781 | |||||||||||||
Income tax expense | 381,013 | 3,523 | (183 | ) | 377,673 | ||||||||||||
Income from continuing operations | 743,965 | 4,481 | (274 | ) | 739,758 | ||||||||||||
Discontinued operations net of gain on disposal of discontinued | 13,236 | — | — | 13,236 | |||||||||||||
operations | |||||||||||||||||
Net income | 757,201 | 4,481 | (274 | ) | 752,994 | ||||||||||||
Less: Net income attributable to noncontrolling interests | (123,755 | ) | — | — | (123,755 | ) | |||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 633,446 | $ | 4,481 | $ | (274 | ) | $ | 629,239 | ||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Patient services revenues | $ | 7,351,902 | $ | 20,052 | $ | — | $ | 7,331,850 | |||||||||
Less: Provision for uncollectible accounts | (235,218 | ) | (686 | ) | — | (234,532 | ) | ||||||||||
Net patient service revenues | 7,116,684 | 19,366 | — | 7,097,318 | |||||||||||||
Capitated revenues | 481,336 | 248,592 | — | 232,744 | |||||||||||||
Other revenues | 588,260 | 487 | — | 587,773 | |||||||||||||
Total net revenues | 8,186,280 | 268,445 | — | 7,917,835 | |||||||||||||
Operating expenses and charges | 6,889,196 | 268,205 | (1,372 | ) | 6,622,363 | ||||||||||||
Operating income | 1,297,084 | 240 | 1,372 | 1,295,472 | |||||||||||||
Debt (expense) and refinancing charges | (299,517 | ) | (1,386 | ) | — | (298,131 | ) | ||||||||||
Other income, net | 3,737 | 54 | — | 3,683 | |||||||||||||
Income tax expense | 359,845 | — | 549 | 359,296 | |||||||||||||
Income from continuing operations | 641,459 | (1,092 | ) | 823 | 641,728 | ||||||||||||
Discontinued operations | (222 | ) | — | — | (222 | ) | |||||||||||
Net income | 641,237 | (1,092 | ) | 823 | 641,506 | ||||||||||||
Less: Net income attributable to noncontrolling interests | (105,220 | ) | — | — | (105,220 | ) | |||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 536,017 | $ | (1,092 | ) | $ | 823 | $ | 536,286 | ||||||||
-1 | After the elimination of the unrestricted subsidiaries and the physician groups | ||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income | |||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||
Net income (losses) | $ | 863,330 | $ | 17,257 | $ | (308 | ) | $ | 846,381 | ||||||||
Other comprehensive losses | (22,372 | ) | — | — | (22,372 | ) | |||||||||||
Total comprehensive income (losses) | 840,958 | 17,257 | (308 | ) | 824,009 | ||||||||||||
Less: Comprehensive income attributable to noncontrolling | (140,216 | ) | — | — | (140,216 | ) | |||||||||||
interest | |||||||||||||||||
Comprehensive income (losses) attributable to DaVita | $ | 700,742 | $ | 17,257 | $ | (308 | ) | $ | 683,793 | ||||||||
HealthCare Partners Inc. | |||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Net income (losses) | $ | 757,201 | $ | 4,481 | $ | (274 | ) | $ | 752,994 | ||||||||
Other comprehensive income | 12,652 | — | — | 12,652 | |||||||||||||
Total comprehensive income (losses) | 769,853 | 4,481 | (274 | ) | 765,646 | ||||||||||||
Less: Comprehensive income attributable to noncontrolling | (123,755 | ) | — | — | (123,755 | ) | |||||||||||
interest | |||||||||||||||||
Comprehensive income (losses) attributable to DaVita | $ | 646,098 | $ | 4,481 | $ | (274 | ) | $ | 641,891 | ||||||||
HealthCare Partners Inc. | |||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Net income (losses) | $ | 641,237 | $ | (1,092 | ) | $ | 823 | $ | 641,506 | ||||||||
Other comprehensive income | 4,187 | — | — | 4,187 | |||||||||||||
Total comprehensive income (losses) | 645,424 | (1,092 | ) | 823 | 645,693 | ||||||||||||
Less: Comprehensive income attributable to noncontrolling | (105,220 | ) | — | — | (105,220 | ) | |||||||||||
interest | |||||||||||||||||
Comprehensive income (losses) attributable to DaVita | $ | 540,204 | $ | (1,092 | ) | $ | 823 | $ | 540,473 | ||||||||
HealthCare Partners Inc. | |||||||||||||||||
-1 | After the elimination of the unrestricted subsidiaries and the physician groups | ||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||
As of December 31, 2014 | |||||||||||||||||
Cash and cash equivalents | $ | 965,241 | $ | 112,448 | $ | — | $ | 852,793 | |||||||||
Accounts receivable, net | 1,525,849 | 255,953 | — | 1,269,896 | |||||||||||||
Other current assets | 1,385,707 | 18,450 | — | 1,367,257 | |||||||||||||
Total current assets | 3,876,797 | 386,851 | — | 3,489,946 | |||||||||||||
Property and equipment, net | 2,469,099 | 2,406 | — | 2,466,693 | |||||||||||||
Amortizable intangibles, net | 1,949,498 | 6,239 | — | 1,943,259 | |||||||||||||
Other long-term assets | 232,026 | 66,087 | 2,811 | 163,128 | |||||||||||||
Goodwill | 9,415,295 | 9,181 | — | 9,406,114 | |||||||||||||
Total assets | $ | 17,942,715 | $ | 470,764 | $ | 2,811 | $ | 17,469,140 | |||||||||
Current liabilities | $ | 2,088,652 | $ | 213,609 | $ | — | $ | 1,875,043 | |||||||||
Payables to parent | — | 178,371 | 2,811 | (181,182 | ) | ||||||||||||
Long-term debt and other long-term liabilities | 9,663,787 | 61,895 | — | 9,601,892 | |||||||||||||
Noncontrolling interests subject to put provisions | 829,965 | — | — | 829,965 | |||||||||||||
Total DaVita HealthCare Partners Inc. shareholders'’ equity | 5,170,513 | 16,889 | — | 5,153,624 | |||||||||||||
Noncontrolling interests not subject to put provisions | 189,798 | — | — | 189,798 | |||||||||||||
Shareholders' equity | 5,360,311 | 16,889 | — | 5,343,422 | |||||||||||||
Total liabilities and shareholder's equity | $ | 17,942,715 | $ | 470,764 | $ | 2,811 | $ | 17,469,140 | |||||||||
As of December 31, 2013 | |||||||||||||||||
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 | |||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income | $ | 863,330 | $ | 17,257 | $ | (308 | ) | $ | 846,381 | ||||||||
Changes in operating and intercompany assets and liabilities and | 596,077 | 1,048 | 308 | 594,721 | |||||||||||||
non cash items included in net income | |||||||||||||||||
Net cash provided by operating activities | 1,459,407 | 18,305 | — | 1,441,102 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Additions of property and equipment | (641,330 | ) | 2,058 | — | (643,388 | ) | |||||||||||
Acquisitions and divestitures, net | (272,094 | ) | — | — | (272,094 | ) | |||||||||||
Proceeds from asset sales | 8,791 | — | — | 8,791 | |||||||||||||
Investments and other items | (373,096 | ) | (16,745 | ) | — | (356,351 | ) | ||||||||||
Net cash used in investing activities | (1,277,729 | ) | (14,687 | ) | — | (1,263,042 | ) | ||||||||||
Cash flows from financing activities: | |||||||||||||||||
Long-term debt and related financing costs, net | (7,989 | ) | — | — | (7,989 | ) | |||||||||||
Intercompany | — | (18,479 | ) | — | 18,479 | ||||||||||||
Other items | (156,990 | ) | — | — | (156,990 | ) | |||||||||||
Net cash used in financing activities | (164,979 | ) | (18,479 | ) | — | (146,500 | ) | ||||||||||
Effect of exchange rate changes on cash | 2,293 | — | — | 2,293 | |||||||||||||
Net increase (decrease) in cash | 18,992 | (14,861 | ) | — | 33,853 | ||||||||||||
Cash at beginning of the year | 946,249 | 127,309 | — | 818,940 | |||||||||||||
Cash at the end of the year | $ | 965,241 | $ | 112,448 | $ | — | $ | 852,793 | |||||||||
For the year ended December 31, 2013 | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income | $ | 757,201 | $ | 4,481 | $ | (274 | ) | $ | 752,994 | ||||||||
Changes in operating and intercompany assets and liabilities and | 1,016,140 | 4,343 | 274 | 1,011,523 | |||||||||||||
non cash items included in net income | |||||||||||||||||
Net cash provided by operating activities | 1,773,341 | 8,824 | — | 1,764,517 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Additions of property and equipment | (617,597 | ) | (2,262 | ) | — | (615,335 | ) | ||||||||||
Acquisitions and divestitures, net | (310,394 | ) | — | — | (310,394 | ) | |||||||||||
Proceeds from discontinued operations | 62,258 | — | — | 62,258 | |||||||||||||
Investments and other items | (11,149 | ) | — | — | (11,149 | ) | |||||||||||
Net cash used in investing activities | (876,882 | ) | (2,262 | ) | — | (874,620 | ) | ||||||||||
Cash flows from financing activities: | |||||||||||||||||
Long-term debt | (438,007 | ) | — | — | (438,007 | ) | |||||||||||
Intercompany | — | (11,615 | ) | — | 11,615 | ||||||||||||
Other items | (44,984 | ) | — | — | (44,984 | ) | |||||||||||
Net cash used in financing activities | (482,991 | ) | (11,615 | ) | — | (471,376 | ) | ||||||||||
Effect of exchange rate changes on cash | (967 | ) | — | — | (967 | ) | |||||||||||
Net increase (decrease) in cash | 412,501 | (5,053 | ) | — | 417,554 | ||||||||||||
Cash at beginning of the year | 533,748 | 132,362 | — | 401,386 | |||||||||||||
Cash at the end of the year | $ | 946,249 | $ | 127,309 | $ | — | $ | 818,940 | |||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income | $ | 641,237 | $ | (1,092 | ) | $ | 823 | $ | 641,506 | ||||||||
Changes in operating and intercompany assets and liabilities and | 459,611 | (26,549 | ) | (823 | ) | 486,983 | |||||||||||
non cash items included in net income | |||||||||||||||||
Net cash provided by operating activities | 1,100,848 | (27,641 | ) | — | 1,128,489 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Additions of property and equipment | (550,146 | ) | (4,794 | ) | — | (545,352 | ) | ||||||||||
Acquisitions and divestitures, net | (4,294,077 | ) | — | — | (4,294,077 | ) | |||||||||||
Proceeds from discontinued operations | 3,559 | — | — | 3,559 | |||||||||||||
Investments and other items | 8,214 | — | — | 8,214 | |||||||||||||
Net cash used in investing activities | (4,832,450 | ) | (4,794 | ) | — | (4,827,656 | ) | ||||||||||
Cash flows from financing activities: | |||||||||||||||||
Long-term debt | 3,904,893 | — | — | 3,904,893 | |||||||||||||
Intercompany | — | 164,797 | — | (164,797 | ) | ||||||||||||
Other items | (32,509 | ) | — | — | (32,509 | ) | |||||||||||
Net cash provided by financing activities | 3,872,384 | 164,797 | — | 3,707,587 | |||||||||||||
Effect of exchange rate changes on cash | (786 | ) | — | — | (786 | ) | |||||||||||
Net increase in cash | 139,996 | 132,362 | — | 7,634 | |||||||||||||
Cash at beginning of the year | 393,752 | — | — | 393,752 | |||||||||||||
Cash at the end of the year | $ | 533,748 | $ | 132,362 | $ | — | $ | 401,386 | |||||||||
-1 | After the elimination of the unrestricted subsidiaries and the physician groups |
SCHEDULE_IIVALUATION_AND_QUALI
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | |||||||||||||||||||||
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS | DAVITA HEALTHCARE PARTNERS INC. | ||||||||||||||||||||
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
Description | Balance at | Acquisitions | Amounts | Amounts | Balance | ||||||||||||||||
beginning | charged | written off | at end of | ||||||||||||||||||
of year | to income | year | |||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Allowance for uncollectible accounts: | |||||||||||||||||||||
Year ended December 31, 2012 | $ | 250,343 | $ | 7,752 | $ | 243,377 | $ | 256,350 | $ | 245,122 | |||||||||||
Year ended December 31, 2013 | $ | 245,122 | $ | — | $ | 298,711 | $ | 306,690 | $ | 237,143 | |||||||||||
Year ended December 31, 2014 | $ | 237,143 | $ | — | $ | 381,337 | $ | 375,806 | $ | 242,674 | |||||||||||
Organization_and_summary_of_si1
Organization and summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Organization | Organization |
DaVita HealthCare Partners Inc. operates two major divisions, Kidney Care and HealthCare Partners (HCP). Kidney Care is comprised of the Company’s U.S. dialysis and related lab services, our ancillary services and strategic initiatives, including our international operations, and our corporate support costs. The Company’s largest line of business is its U.S. dialysis and related lab services business, which operates kidney dialysis centers and provides related lab services primarily in outpatient dialysis centers and in contracted hospitals within the U.S. As of December 31, 2014, the Company operated or provided administrative services through a network of 2,179 U.S. outpatient dialysis centers in 46 states and the District of Columbia, serving approximately 173,000 patients. The Company’s HCP division is a patient- and physician-focused integrated healthcare delivery and management company that provides medical services to members primarily through capitation contracts with some of the nation’s leading health plans. | |
As of December 31, 2014, the Company operated or provided administrative services to 91 outpatient dialysis centers located in ten countries outside of the U.S. | |
The Company’s U.S. dialysis and related lab services business and HCP qualify as separately reportable segments and the Company’s other ancillary services and strategic initiatives, including its international operations, have been combined and disclosed in the other segments category. | |
Basis of presentation | Basis of presentation |
These consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The financial statements include DaVita HealthCare Partners Inc. and its subsidiaries, partnerships and other entities in which it maintains a 100% or majority voting interest, another controlling financial interest, or of which it is considered the primary beneficiary (collectively, the Company). All significant intercompany transactions and balances have been eliminated. Non-marketable equity investments are recorded under the equity or cost method of accounting based upon whether the Company has significant influence over the investee. For the Company’s international subsidiaries, local currencies are considered their functional currencies. Translation adjustments result from translating the Company’s international subsidiaries’ financial statements from their functional currencies into the Company’s reporting currency (USD). Prior year balances and amounts have been reclassified to conform to the current year presentation and retrospectively revised to reflect purchase accounting entries. | |
The Company has evaluated subsequent events through the date these consolidated financial statements were issued and has included all necessary disclosures. | |
Use of estimates | Use of estimates |
The preparation of financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of revenues, expenses, assets, liabilities, contingencies and noncontrolling interests subject to put provisions. Although actual results in subsequent periods will differ from these estimates, such estimates are developed based on the best information available to management and management’s best judgments at the time. All significant assumptions and estimates underlying the amounts reported in the financial statements and accompanying notes are regularly reviewed and updated when necessary. Changes in estimates are reflected in the financial statements based upon on-going actual experience trends, or subsequent settlements and realizations depending on the nature and predictability of the estimates and contingencies. Interim changes in estimates related to annual operating costs are applied prospectively within annual periods. | |
The most significant assumptions and estimates underlying these financial statements and accompanying notes involve revenue recognition and accounts receivable, contingencies, impairments of long-lived assets including goodwill, valuation adjustments, accounting for income taxes, quarterly, annual and long-term variable compensation accruals, consolidation of variable interest entities, purchase accounting valuation estimates, other fair value estimates, stock-based compensation and medical liability claims. Specific estimating risks and contingencies are further addressed within these notes to the consolidated financial statements. | |
Patient service net revenues and accounts receivable | Patient service net revenues and accounts receivable |
Patient service net revenues are recognized in the period services are provided. Revenues consist primarily of payments from Medicare, Medicaid and commercial health plans for dialysis and ancillary services provided to patients. A usual and customary fee schedule is maintained for the Company’s dialysis treatments and other patient services; however, actual collectible revenue is normally recognized at a discount from the fee schedule. | |
Patient service revenues earned by HCP are recognized in the period services are provided, net of an estimated contractual allowance and are mainly attributable to primary care physician services and certain other specialty care services provided to patients. | |
Revenues associated with Medicare and Medicaid programs are recognized based on: (a) the payment rates that are established by statute or regulation for the portion of payment rates paid by the government payor (e.g., 80% for Medicare patients) and (b) for the portion not paid by the primary government payor, estimates of the amounts ultimately collectible from other government programs paying secondary coverage (e.g., Medicaid secondary coverage), the patient’s commercial health plan secondary coverage, or the patient. The Company’s reimbursements from Medicare are subject to certain variations under Medicare’s single bundled payment rate system, whereby reimbursements can be adjusted for certain patient characteristics and other factors. The Company’s revenue recognition will depend upon its ability to effectively capture, document and bill for Medicare’s base payment rate as well as these other variable factors. | |
Revenues associated with commercial health plans are estimated based on contractual terms for the patients under healthcare plans with which the Company has formal agreements, non-contracted health plan coverage terms if known, estimated secondary collections, historical collection experience, historical trends of refunds and payor payment adjustments (retractions), inefficiencies in the Company’s billing and collection processes that can result in denied claims for payments, and regulatory compliance matters. | |
Commercial revenue recognition also involves significant estimating risks. With many larger, commercial insurers the Company has several different contracts and payment arrangements, and these contracts often include only a subset of the Company’s centers. It is often not possible to determine which contract, if any, should be applied prior to billing. In addition, for services provided by non-contracted centers, final collection may require specific negotiation of a payment amount, typically at a significant discount from the Company’s usual and customary rates. | |
Under Medicare’s bundled payment rate system, services covered by Medicare are subject to estimating risk, whereby reimbursements from Medicare can vary significantly depending upon certain patient characteristics and other variable factors. Even with the bundled payment rate system, Medicare payments for bad debt claims as established by cost reports require evidence of collection efforts. As a result, billing and collection of Medicare bad debt claims can be delayed significantly and final payment is subject to audit. | |
Medicaid payments, when Medicaid coverage is secondary, can also be difficult to estimate. For many states, Medicaid payment terms and methods differ from Medicare, and may prevent accurate estimation of individual payment amounts prior to billing. | |
The Company’s range of revenue estimating risk for the dialysis and related lab services segment is generally expected to be within 1% of its revenue. Changes in revenue estimates for prior periods are not material. | |
Capitated revenue | |
HCP capitated revenue | |
The Company’s associated medical groups are licensed to contract with health maintenance organizations (HMOs), to provide physician services in California under capitation contracts, and to provide both hospital and physician services under global risk capitation contracts in Florida, Nevada and Arizona. HCP’s revenues consist primarily of fees for medical services provided by these medical group entities’ payments from capitated contracts with various HMOs and revenues under risk-sharing programs. Capitation revenue under HMO contracts is prepaid monthly based on the number of enrollees electing physicians affiliated with one of the medical group entities as their health care provider, regardless of the level of actual medical services utilized. Capitation revenue is reported as revenue in the month in which enrollees are entitled to receive health care. A portion of the capitation revenue pertaining to Medicare enrollees is subject to possible retroactive premium risk adjustments based on their individual acuity. Due to lack of sufficient data to project the amount of such retroactive adjustments, the Company records any corresponding retroactive revenues in the year of receipt. | |
Depending on the applicable state regulation regarding global risk capitation, revenues may be received by the Company or by an independent hospital with which the Company contracts under various managed care-related administrative services agreements. In the Florida, Nevada and Arizona service markets, the global capitation revenue is recorded by the Company with the corresponding cost of medical care reported by the Company as patient care costs. In California, the Company receives professional capitation and either the health plan retains the capitated revenues in a shared risk pool or the independent hospitals receive the institutional capitation revenues. The revenues are used to pay medical claims for the related enrollees. The Company is entitled to any residual amounts and bears the risk of any deficits. In all cases, an estimate is made for the cost of medical services that have been incurred and where no medical claim has been received (IBNR). | |
Under risk-sharing programs, the medical groups share in the risk for hospitalization services and earn additional incentive revenues or incur penalties based on the utilization of hospital services. Estimated shared-risk receivables from the HMOs are recorded based upon hospital utilization and associated costs incurred by assigned HMO enrollees, including an estimate of IBNR compared to budgeted funding. Differences between actual contract settlements and estimated receivables or payables are recorded in the year of final settlement. The medical groups also receive other incentive payments from health plans based on specified performance and quality criteria. These amounts are accrued when earned and the amounts can be reasonably estimated, and are included in HCP’s capitated revenues. HCP recently obtained a restricted Knox-Keene license in California, which now permits HCP to enter into contracts with health plans allowing it to recognize revenue in 2014 under global capitation arrangements for both professional and institutional services. | |
Other capitated revenues | |
One of the Company’s subsidiaries operates a Medicare Advantage ESRD Special Needs Plan in partnership with a payor that works with CMS to provide ESRD patients full service health care. The Company is at risk for all medical costs of the program in excess of the capitation payments. | |
Other revenues | |
Other revenues consist of the non-patient service revenues associated with the ancillary services and strategic initiatives, management and administrative support services that are provided to outpatient dialysis centers that the Company does not own or in which the Company owns a minority equity interest, retail pharmacies and medical consulting services. The Company also provides administrative and management support services to a medical services joint venture in which the Company owns a 50% interest. Management fees are principally determined as a percentage of the managed operations’ revenues or cash collections and in some cases an additional component based upon a percentage of operating income. Management fees are included in net revenues when earned and represent less than 1% of total consolidated operating revenues. Revenues related to medical consulting services are recognized in the period services are provided. | |
Allowance for uncollectible accounts | Allowance for uncollectible accounts |
Net revenue recognition and allowances for uncollectible billings require the use of estimates of the amounts that will ultimately be realized considering, among other items, retroactive adjustments that may be associated with regulatory reviews, audits, billing reviews and other matters. The Company’s policy is to write off any uncollectible accounts receivable balance only after all collection efforts have been exhausted or when write off is mandated by federal or state policies or required by certain payor contracts. It is also the Company’s policy to write off any accounts receivable balance associated with any payors or patients when the Company receives notification of a bankruptcy filing. | |
Other income | Other income |
Other income includes interest income on cash investments and other non-operating gains from investment transactions. | |
Cash and cash equivalents | Cash and cash equivalents |
Cash equivalents are short-term highly liquid investments with maturities of three months or less at date of purchase. | |
Inventories | Inventories |
Inventories are stated at the lower of cost (first-in, first-out) or market and consist principally of pharmaceuticals and dialysis-related supplies. Rebates related to inventory purchases are recorded when earned and are based on certain qualification requirements which are dependent on a variety of factors including future pricing levels by the manufacturer and data submission. | |
Funds on deposit with a third party | Funds on deposit with a third party |
The Company has established a risk sharing arrangement with a California hospital, wherein the Company shares in any surplus or deficit. One of the terms of this agreement is the establishment of a segregated investment fund to ensure adequate cash to pay IBNR. The Company and the hospital monitor the reserve balance to maintain the adequacy of funds on deposit. The Company has $81,276 in such funds as of December 31, 2014, in other current assets on the consolidated balance sheet. | |
Property and equipment | Property and equipment |
Property and equipment is stated at cost less accumulated depreciation and amortization and is further reduced by any impairments. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization expenses are computed using the straight-line method over the useful lives of the assets estimated as follows: buildings, 20 to 40 years; leasehold improvements, the shorter of their economic useful life or the expected lease term; and equipment and information systems, principally three to eight years. Disposition gains and losses are included in current operating expenses. | |
Amortizable intangibles | Amortizable intangibles |
Amortizable intangible assets and liabilities include customer relationships, trade names, provider networks, supply agreements, practice management tools, non-competition and similar agreements, lease agreements, hospital acute services contracts and deferred debt financing costs, each of which have finite useful lives. Amortization expense is computed using the straight-line method over the useful lives of the assets estimated as follows: customer relationships, ten to twenty years; trade names, provider networks and practice management tools, two to fifteen years; non-competition and similar agreements, two to ten years; the alliance and product supply agreement, ten years; and lease agreements and hospital acute service contracts, over the term of the lease or contract period, respectively. Deferred debt financing costs are amortized to debt expense over the term of the related debt using the effective interest method. | |
Investments | Investments |
Based upon the Company’s intentions and strategy concerning investments in debt and equity securities, the Company classifies certain debt securities as held-to-maturity and measures them at amortized cost. The Company classifies equity securities that have readily determinable fair values and certain other debt securities as available for sale and measures them at fair value. Unrealized gains or losses from available for sale investments are recorded in other comprehensive income until realized. | |
Goodwill | Goodwill |
Goodwill represents the difference between the fair value of businesses acquired and the fair value of the identifiable tangible and intangible net assets acquired. Goodwill is not amortized, but is assessed for valuation impairment as circumstances may warrant and at least annually. An impairment charge would be recorded to the extent the carrying amount of goodwill exceeds its implied fair value. The Company operates several reporting units for goodwill impairment assessments. See Note 10 to the consolidated financial statements for further details. | |
Impairment of long-lived assets | Impairment of long-lived assets |
Long-lived assets, including property and equipment, equity investments in non-consolidated businesses and amortizable intangible assets are reviewed for possible impairment whenever significant events or changes in circumstances indicate that an impairment may have occurred, including changes in the Company’s business strategy and plans, changes in the quality or structure of its relationships with its partners or deteriorating operating performance of individual outpatient dialysis centers or other operations. An impairment is indicated when the sum of the expected future undiscounted net cash flows identifiable to an asset group is less than its carrying amount. Impairment losses are measured based upon the difference between the actual or estimated fair values, which are based on market values, net realizable values or projections of discounted net cash flows, as appropriate, and the carrying amount of the asset. Impairment charges are included in operating expenses. Indefinite-lived intangible assets are reviewed for possible impairment at least annually and whenever significant events or changes in circumstances indicate that an impairment may have occurred. | |
Self insurance | Self insurance |
The Company’s Kidney Care division maintains insurance reserves for professional and general liability and workers’ compensation in excess of certain individual and or aggregate amounts not covered by third-party carriers. The Company’s Kidney Care division estimates the self-insured retention portion of professional and general liability and workers’ compensation risks using third-party actuarial calculations that are based upon historical claims experience and expectations for future claims. In addition, HCP has purchased its primary professional and general liability insurance from California Medical Group Insurance (CMGI) in which the Company owns an equity interest of 67%. | |
Medical liability costs | Medical liability costs |
The medical groups are responsible for integrated care that the associated physicians and contracted hospitals provide to assigned HMO enrollees. The Company provides integrated care to health plan enrollees through a network of contracted providers under sub-capitation and direct patient service arrangements, company-operated clinics and staff physicians. Medical costs for professional and institutional services rendered by contracted providers are recorded as patient care costs in the consolidated statements of income. Costs for operating medical clinics, including the salaries of medical and non-medical personnel and support costs, are also recorded in patient care costs. | |
An estimate of amounts due to contracted physicians, hospitals, and other professional providers for members under global and professional risk arrangements is included in medical payables in the accompanying consolidated balance sheets. Medical payables include claims reported as of the balance sheet date and estimates of IBNR. Such estimates are developed using actuarial methods and are based on many variables, including the utilization of health care services, historical payment patterns, cost trends, product mix, seasonality, changes in membership, and other factors. The estimation methods and the resulting reserves are continually reviewed and updated. Many of the medical contracts are complex in nature and may be subject to differing interpretations regarding amounts due for the provision of various services. Such differing interpretations may not come to light until a substantial period of time has passed following the contract implementation. Any adjustments to reserves are reflected in current operations. | |
Income taxes | Income taxes |
Federal and state income taxes are computed at currently enacted tax rates less tax credits using the asset and liability method. Deferred taxes are adjusted both for items that do not have tax consequences and for the cumulative effect of any changes in tax rates from those previously used to determine deferred tax assets or liabilities. Tax provisions include amounts that are currently payable, changes in deferred tax assets and liabilities that arise because of temporary differences between the timing of when items of income and expense are recognized for financial reporting and income tax purposes, changes in the recognition of tax positions and any changes in the valuation allowance caused by a change in judgment about the realizability of the related deferred tax assets. A valuation allowance is established when necessary to reduce deferred tax assets to amounts expected to be realized. | |
The Company uses a recognition threshold of more-likely-than-not and a measurement attribute on all tax positions taken or expected to be taken in a tax return in order to be recognized in the financial statements. Once the recognition threshold is met, the tax position is then measured to determine the actual amount of benefit to recognize in the financial statements. | |
Stock-based compensation | Stock-based compensation |
The Company’s stock-based compensation awards are measured at their estimated fair values on the date of grant if settled in shares or at their estimated fair values at the end of each reporting period if settled in cash. The value of stock-based awards so measured is recognized as compensation expense on a cumulative straight-line basis over the vesting terms of the awards, adjusted for expected forfeitures. Stock-based compensation to be settled in shares is recorded to the Company’s shareholders’ equity, while stock-based compensation to be settled in cash is recorded to a liability. | |
Interest rate swap and cap agreements | Interest rate swap and cap agreements |
The Company has several interest rate swap agreements as a means of hedging its exposure to and volatility from LIBOR variable-based interest rate changes as part of its overall interest rate risk management strategy. These agreements are designated as cash flow hedges and are not held for trading or speculative purposes. The swap agreements have the economic effect of converting the majority of the LIBOR variable component of the Company’s interest rate to fixed rates on the Company’s Term Loan A outstanding balances. In addition, the Company has several interest rate cap agreements that have the economic effect of capping the Company’s maximum exposure to LIBOR variable interest rate changes on specific portions of the Company’s Term Loan B totaling $2,735,000. The Company also maintains several forward interest rate cap agreements with notional amounts totaling $3,500,000 that will be effective September 30, 2016 and will have economic effect of capping the LIBOR variable component of the Company’s interest rate at a maximum of 3.50% on an equivalent of the Company’s debt. See Note 14 to the consolidated financial statements for further details. | |
Noncontrolling interests | Noncontrolling interests |
Noncontrolling interests represent third-party minority equity ownership interests in consolidated entities which are majority-owned by the Company, as well as the equity ownership interests in entities that are not owned by the Company but which are consolidated for financial statement reporting purposes. As of December 31, 2014, third parties held noncontrolling ownership interests in approximately 380 consolidated legal entities. | |
Fair value estimates | Fair value estimates |
The Company currently measures the fair value of certain assets, liabilities (including contingent earn-out consideration) and noncontrolling interests subject to put provisions (temporary equity) based upon certain valuation techniques that include observable or unobservable market inputs and assumptions that market participants would use in pricing these assets, liabilities and temporary equity. The Company has also classified its assets, liabilities and temporary equity into the appropriate fair value hierarchy levels as defined by the FASB. See Note 24 to the consolidated financial statements for further details. | |
New accounting standards | New accounting standards |
On January 1, 2013, the Company adopted the Financial Accounting Standards Boards (FASB) ASU No. 2013-02 Comprehensive Income. This standard requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. See Note 20 to the consolidated financial statements for further details. | |
In July 2013, the FASB issued ASU No. 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. This standard amends the acceptable benchmark interest rates to permit the inclusion of the Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark interest rate for hedge accounting purposes in addition to U.S. government (UST) and LIBOR. The amendment also removes the restriction on using different benchmark rates for similar hedges. This standard is applied prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. | |
In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in the ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in U.S. GAAP. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. Early adoption is permitted. The adoption of this standard will not have a material impact on the Company’s consolidated financial statements. | |
In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | |
Earnings_per_share_Tables
Earnings per share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Reconciliations of Numerators and Denominators Used to Calculate Basic and Diluted Net Income Per Share | The reconciliations of the numerators and denominators used to calculate basic and diluted net income per share are as follows: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
(shares in thousands) | |||||||||||||
Basic: | |||||||||||||
Income from continuing operations attributable to DaVita HealthCare | $ | 723,114 | $ | 620,197 | $ | 536,236 | |||||||
Partners Inc. | |||||||||||||
Discontinued operations attributable to DaVita HealthCare Partners Inc. | — | 13,249 | (219 | ) | |||||||||
Net income attributable to DaVita HealthCare Partners Inc. for basic | $ | 723,114 | $ | 633,446 | $ | 536,017 | |||||||
earnings per share calculation | |||||||||||||
Weighted average shares outstanding during the period | 214,496 | 212,128 | 192,396 | ||||||||||
Vested stock units | — | 5 | 6 | ||||||||||
Contingently returnable shares held in escrow for the DaVita HealthCare | (2,194 | ) | (2,194 | ) | (366 | ) | |||||||
Partners merger | |||||||||||||
Weighted average shares for basic earnings per share calculation | 212,302 | 209,939 | 192,036 | ||||||||||
Basic income from continuing operations per share attributable to | $ | 3.41 | $ | 2.95 | $ | 2.79 | |||||||
DaVita HealthCare Partners Inc. | |||||||||||||
Basic income from discontinued operations per share attributable | — | 0.07 | — | ||||||||||
to DaVita HealthCare Partners Inc. | |||||||||||||
Basic net income per share attributable to DaVita HealthCare | $ | 3.41 | $ | 3.02 | $ | 2.79 | |||||||
Partners Inc. | |||||||||||||
Diluted: | |||||||||||||
Income from continuing operations attributable to DaVita | $ | 723,114 | $ | 620,197 | $ | 536,236 | |||||||
HealthCare Partners Inc. | |||||||||||||
Discontinued operations attributable to DaVita HealthCare Partners Inc. | — | 13,249 | (219 | ) | |||||||||
Net income attributable to DaVita HealthCare Partners Inc. for | $ | 723,114 | $ | 633,446 | $ | 536,017 | |||||||
diluted earnings per share calculation | |||||||||||||
Weighted average shares outstanding during the period | 214,496 | 212,128 | 192,396 | ||||||||||
Vested stock units | — | 5 | 6 | ||||||||||
Assumed incremental shares from stock plans | 2,432 | 2,631 | 3,540 | ||||||||||
Weighted average shares for diluted earnings per share calculation | 216,928 | 214,764 | 195,942 | ||||||||||
Diluted income from continuing operations per share attributable | $ | 3.33 | $ | 2.89 | $ | 2.74 | |||||||
to DaVita HealthCare Partners Inc. | |||||||||||||
Diluted income from discontinued operations per share attributable to | — | 0.06 | — | ||||||||||
DaVita HealthCare Partners Inc. | |||||||||||||
Diluted net income per share attributable to DaVita HealthCare | $ | 3.33 | $ | 2.95 | $ | 2.74 | |||||||
Partners Inc. | |||||||||||||
Anti-dilutive stock-settled awards excluded from calculation(1) | 1,715 | 4,194 | 2,616 | ||||||||||
-1 | Shares associated with stock-settled stock appreciation rights and stock options excluded from the diluted denominator calculation because they are anti-dilutive under the treasury stock method. |
Other_receivables_Tables
Other receivables (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Other Receivables | Other receivables were comprised of the following: | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Supplier rebates and non-trade receivables | $ | 265,693 | $ | 217,100 | |||||
Medicare bad debt claims | 118,504 | 110,825 | |||||||
Operating advances under management and administrative | 16,719 | 21,165 | |||||||
services agreements | |||||||||
$ | 400,916 | $ | 349,090 | ||||||
Other_current_assets_Tables
Other current assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |||||||||
Other Current Assets | Other current assets consist principally of prepaid expenses and funds on deposit with third parties. | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Prepaid expenses | $ | 102,466 | $ | 93,877 | |||||
Funds on deposit with third parties | 81,276 | 79,317 | |||||||
Other | 3,100 | 3,220 | |||||||
$ | 186,842 | $ | 176,414 | ||||||
Property_and_equipment_Tables
Property and equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property Plant And Equipment [Abstract] | |||||||||
Property and Equipment | Property and equipment were comprised of the following: | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Land | $ | 35,885 | $ | 34,960 | |||||
Buildings | 157,550 | 157,998 | |||||||
Leasehold improvements | 2,002,735 | 1,762,470 | |||||||
Equipment and information systems | 2,066,775 | 1,839,981 | |||||||
New center and capital asset projects in progress | 235,660 | 172,261 | |||||||
4,498,605 | 3,967,670 | ||||||||
Less accumulated depreciation | (2,029,506 | ) | (1,778,259 | ) | |||||
$ | 2,469,099 | $ | 2,189,411 | ||||||
Intangibles_Tables
Intangibles (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Intangible Assets Gross Excluding Goodwill [Abstract] | |||||||||||||||||||||||||||||
Amortizable intangible assets | Intangible assets were comprised of the following: | ||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Customer relationships | $ | 1,575,865 | $ | 1,503,426 | |||||||||||||||||||||||||
Trade names | 171,168 | 170,994 | |||||||||||||||||||||||||||
Provider network and practice management tools | 183,688 | 184,558 | |||||||||||||||||||||||||||
Noncompetition and other agreements | 506,867 | 495,475 | |||||||||||||||||||||||||||
Lease agreements | 7,982 | 8,889 | |||||||||||||||||||||||||||
Deferred debt financing costs | 101,001 | 121,872 | |||||||||||||||||||||||||||
Indefinite-lived assets | 24,818 | 22,932 | |||||||||||||||||||||||||||
2,571,389 | 2,508,146 | ||||||||||||||||||||||||||||
Less accumulated amortization | (621,891 | ) | (483,773 | ) | |||||||||||||||||||||||||
Total intangible assets | $ | 1,949,498 | $ | 2,024,373 | |||||||||||||||||||||||||
Amortizable Intangible Liabilities | Amortizable intangible liabilities were comprised of the following: | ||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Alliance and product supply agreement commitment | $ | 68,200 | $ | 68,200 | |||||||||||||||||||||||||
(See Note 18) | |||||||||||||||||||||||||||||
Less accumulated amortization | (64,203 | ) | (58,873 | ) | |||||||||||||||||||||||||
Net Alliance and product supply agreement | 3,997 | 9,327 | |||||||||||||||||||||||||||
Lease agreements (net of accumulated amortization of $4,785 | 10,407 | 12,563 | |||||||||||||||||||||||||||
and $2,628) | |||||||||||||||||||||||||||||
$ | 14,404 | $ | 21,890 | ||||||||||||||||||||||||||
Scheduled Amortization Charges from Intangible Assets and Liabilities | Scheduled amortization charges from amortizable intangible assets and liabilities as of December 31, 2014 were as follows: | ||||||||||||||||||||||||||||
Customer | Trade | Provider | Noncompetition | Lease | Deferred | Alliance and | |||||||||||||||||||||||
relationships | names | network and | and other | agreements, net | debt | product | |||||||||||||||||||||||
practice | agreements | financing | supply | ||||||||||||||||||||||||||
management | costs | agreement | |||||||||||||||||||||||||||
tools | liability | ||||||||||||||||||||||||||||
2015 | 82,619 | 16,429 | 26,229 | 40,482 | (2,107 | ) | 13,279 | (3,997 | ) | ||||||||||||||||||||
2016 | 82,704 | 16,429 | 26,179 | 30,172 | (1,506 | ) | 13,129 | — | |||||||||||||||||||||
2017 | 82,686 | 16,418 | 26,243 | 28,563 | (1,185 | ) | 12,976 | — | |||||||||||||||||||||
2018 | 82,640 | 16,364 | 26,266 | 18,429 | (849 | ) | 12,683 | — | |||||||||||||||||||||
2019 | 82,407 | 16,364 | 22,542 | 13,984 | (789 | ) | 10,636 | — | |||||||||||||||||||||
Thereafter | 991,862 | 53,961 | 526 | 39,242 | (3,971 | ) | 22,237 | — | |||||||||||||||||||||
Investments_in_debt_and_equity1
Investments in debt and equity securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments | The Company’s investments in securities consist of the following: | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
Held to | Available | Total | Held to | Available | Total | ||||||||||||||||||||
maturity | for sale | maturity | for sale | ||||||||||||||||||||||
Certificates of deposit and money market funds due | $ | 335,975 | $ | — | $ | 335,975 | $ | 5,601 | $ | — | $ | 5,601 | |||||||||||||
within one year | |||||||||||||||||||||||||
Investments in mutual funds and common stock | — | 28,123 | 28,123 | — | 19,421 | 19,421 | |||||||||||||||||||
$ | 335,975 | $ | 28,123 | $ | 364,098 | $ | 5,601 | $ | 19,421 | $ | 25,022 | ||||||||||||||
Short-term investments | $ | 335,975 | $ | 1,424 | $ | 337,399 | $ | 5,601 | $ | 1,200 | $ | 6,801 | |||||||||||||
Long-term investments | — | 26,699 | 26,699 | — | 18,221 | 18,221 | |||||||||||||||||||
$ | 335,975 | $ | 28,123 | $ | 364,098 | $ | 5,601 | $ | 19,421 | $ | 25,022 | ||||||||||||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Changes in Goodwill by Reportable Segments | Changes in the value of goodwill by reportable segments were as follows: | ||||||||||||||||
U.S. dialysis and | HCP | Other ancillary | Consolidated total | ||||||||||||||
related lab services | services and | ||||||||||||||||
strategic initiatives | |||||||||||||||||
Balance at January 1, 2013 | $ | 5,309,152 | $ | 3,506,571 | $ | 137,027 | $ | 8,952,750 | |||||||||
Acquisitions | 163,037 | 17,833 | 90,397 | $ | 271,267 | ||||||||||||
Divestitures | (2,728 | ) | — | — | $ | (2,728 | ) | ||||||||||
Other adjustments | 12 | (8,242 | ) | (85 | ) | $ | (8,315 | ) | |||||||||
Balance at December 31, 2013 | $ | 5,469,473 | $ | 3,516,162 | $ | 227,339 | $ | 9,212,974 | |||||||||
Acquisitions | 143,021 | 48,649 | 29,844 | $ | 221,514 | ||||||||||||
Divestitures | (1,851 | ) | — | — | $ | (1,851 | ) | ||||||||||
Foreign currency and other adjustments | — | (2,277 | ) | (15,065 | ) | $ | (17,342 | ) | |||||||||
Balance at December 31, 2014 | $ | 5,610,643 | $ | 3,562,534 | $ | 242,118 | $ | 9,415,295 | |||||||||
Other_liabilities_Tables
Other liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Other Liabilities Disclosure [Abstract] | |||||||||
Other Liabilities | Other liabilities were comprised of the following: | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Payor refunds and retractions | $ | 125,435 | $ | 169,480 | |||||
Contingent earn-out consideration | 15,614 | 6,577 | |||||||
Insurance and self-insurance accruals | 92,928 | 84,882 | |||||||
Accrued interest | 87,224 | 45,662 | |||||||
Other medical payables | 39,867 | 31,219 | |||||||
Accrued non-income tax liabilities | 25,909 | 18,366 | |||||||
Interest rate swap agreements | 1,457 | 12,069 | |||||||
Other | 118,145 | 96,167 | |||||||
$ | 506,579 | $ | 464,422 | ||||||
Medical_payables_Tables
Medical payables (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Health Care Organizations [Abstract] | |||||||||
Components of Changes in Health Care Costs Payable | The following table shows the components of changes in the health care costs payable for the year ended December 31, 2014 and 2013: | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Health care costs payable, beginning of the year | $ | 172,310 | $ | 119,512 | |||||
Acquisitions and other adjustments | — | 26,575 | |||||||
Add: Components of incurred health care costs | |||||||||
Current year | 1,572,723 | 1,329,887 | |||||||
Prior years | 3,429 | (16,587 | ) | ||||||
Total incurred health care costs | 1,576,152 | 1,313,300 | |||||||
Less: Claims paid | |||||||||
Current year | 1,378,137 | 1,169,455 | |||||||
Prior years | 155,920 | 117,622 | |||||||
Total claims paid | 1,534,057 | 1,287,077 | |||||||
Health care costs payable, end of the year | $ | 214,405 | $ | 172,310 | |||||
Income_taxes_Tables
Income taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Components of Income Tax Expense (benefit) | Income tax expense (benefit) consisted of the following: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | 188,302 | $ | 334,258 | $ | 239,232 | |||||||
State | 30,789 | 68,715 | 49,178 | ||||||||||
International | 1,687 | 1,764 | 660 | ||||||||||
Total current income tax | $ | 220,778 | $ | 404,737 | $ | 289,070 | |||||||
Deferred: | |||||||||||||
Federal | 192,267 | (6,695 | ) | 64,195 | |||||||||
State | 32,360 | (8,941 | ) | 6,498 | |||||||||
International | 938 | 746 | — | ||||||||||
Total deferred income tax | $ | 225,565 | $ | (14,890 | ) | $ | 70,693 | ||||||
$ | 446,343 | $ | 389,847 | $ | 359,763 | ||||||||
Allocation of Income Tax Expense (Benefit) | The allocation of income tax expense (benefit) was as follows: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Continuing operations | $ | 446,343 | $ | 381,013 | $ | 359,845 | |||||||
Discontinued operations | — | (84 | ) | (82 | ) | ||||||||
Gain on discontinued operations | — | 8,918 | — | ||||||||||
$ | 446,343 | $ | 389,847 | $ | 359,763 | ||||||||
Reconciliation between our Effective Tax Rate from Continuing Operations and the U.S. Federal Income Tax Rate | The reconciliation between the Company’s effective tax rate from continuing operations and the U.S. federal income tax rate is as follows: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal benefit | 3.5 | 3.8 | 4 | ||||||||||
International rate differential | (0.2 | ) | 0.1 | — | |||||||||
Changes in deferred tax valuation allowances | 0.6 | 0.3 | — | ||||||||||
Contingent earn-out adjustments | — | (2.6 | ) | — | |||||||||
Other | (0.8 | ) | 1.4 | 1.1 | |||||||||
Impact of noncontrolling interests primarily attributable to non-tax paying entities | (4.0 | ) | (4.1 | ) | (4.2 | ) | |||||||
Effective tax rate | 34.1 | % | 33.9 | % | 35.9 | % | |||||||
Deferred Tax Assets and Liabilities Arising from Temporary Differences | Deferred tax assets and liabilities arising from temporary differences associated with continuing operations were as follows: | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Receivables | $ | 42,973 | $ | 49,667 | |||||||||
Accrued liabilities | 253,158 | 252,008 | |||||||||||
Loss contingency reserve | 1,423 | 139,844 | |||||||||||
Net operating loss carryforwards | 100,768 | 96,212 | |||||||||||
Other | 88,435 | 67,882 | |||||||||||
Deferred tax assets | 486,757 | 605,613 | |||||||||||
Valuation allowance | (26,667 | ) | (13,860 | ) | |||||||||
Net deferred tax assets | 460,090 | 591,753 | |||||||||||
Intangible assets | (835,816 | ) | (752,838 | ) | |||||||||
Property and equipment | (187,054 | ) | (183,059 | ) | |||||||||
Investments in partnerships | (78,618 | ) | (51,921 | ) | |||||||||
Other | (8,677 | ) | (6,913 | ) | |||||||||
Deferred tax liabilities | (1,110,165 | ) | (994,731 | ) | |||||||||
Net deferred tax liabilities | $ | (650,075 | ) | $ | (402,978 | ) | |||||||
Reconciliation of the Beginning and Ending Liability for Unrecognized Tax Benefits that Do Not Meet the More-Likely-than-not Threshold | A reconciliation of the beginning and ending liability for unrecognized tax benefits that do not meet the more-likely-than-not threshold were as follows: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Balance beginning | $ | 60,538 | $ | 67,546 | |||||||||
Additions for tax positions related to current year | 914 | 6,005 | |||||||||||
Reductions for tax positions related to prior years | (27,312 | ) | (3,901 | ) | |||||||||
Reductions related to lapse of applicable statute | (2,077 | ) | (8,480 | ) | |||||||||
Reductions related to settlements with taxing authorities | (186 | ) | (632 | ) | |||||||||
Balance ending | $ | 31,877 | $ | 60,538 | |||||||||
Longterm_debt_Tables
Long-term debt (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||
Long Term Debt | Long-term debt was comprised of the following: | ||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||
Senior Secured Credit Facilities: | |||||||||||||||||||||||||||
Term Loan A | $ | 975,000 | $ | 800,000 | |||||||||||||||||||||||
Term Loan A-3 | — | 1,282,500 | |||||||||||||||||||||||||
Term Loan B | 3,482,500 | 1,697,500 | |||||||||||||||||||||||||
Term Loan B-2 | — | 1,633,500 | |||||||||||||||||||||||||
Senior notes | 3,775,000 | 2,800,000 | |||||||||||||||||||||||||
Acquisition obligations and other notes payable | 69,045 | 67,352 | |||||||||||||||||||||||||
Capital lease obligations | 218,097 | 152,751 | |||||||||||||||||||||||||
Total debt principal outstanding | 8,519,642 | 8,433,603 | |||||||||||||||||||||||||
Discount on long-term debt | (16,208 | ) | (17,675 | ) | |||||||||||||||||||||||
8,503,434 | 8,415,928 | ||||||||||||||||||||||||||
Less current portion | (120,154 | ) | (274,697 | ) | |||||||||||||||||||||||
$ | 8,383,280 | $ | 8,141,231 | ||||||||||||||||||||||||
Scheduled Maturities of Long-term Debt | Scheduled maturities of long-term debt at December 31, 2014 were as follows: | ||||||||||||||||||||||||||
2015 | 120,154 | ||||||||||||||||||||||||||
2016 | 117,193 | ||||||||||||||||||||||||||
2017 | 144,161 | ||||||||||||||||||||||||||
2018 | 155,750 | ||||||||||||||||||||||||||
2019 | 730,084 | ||||||||||||||||||||||||||
Thereafter | 7,252,300 | ||||||||||||||||||||||||||
Derivative Instruments | The following table summarizes the Company’s derivative instruments as of December 31, 2014 and 2013: | ||||||||||||||||||||||||||
Interest rate swap and cap agreements (liabilities and assets) | |||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments | Balance sheet | Fair value | Balance sheet | Fair value | |||||||||||||||||||||||
location | location | ||||||||||||||||||||||||||
Interest rate swap agreements | Other short- | $ | 1,457 | Other short- | $ | 12,069 | |||||||||||||||||||||
term liabilities | term liabilities | ||||||||||||||||||||||||||
Interest rate swap agreements | Other long- | $ | 3,281 | Other long- | $ | 10,004 | |||||||||||||||||||||
term assets | term assets | ||||||||||||||||||||||||||
Interest rate cap agreements | Other long- | $ | 13,934 | Other long- | $ | 7,567 | |||||||||||||||||||||
term assets | term assets | ||||||||||||||||||||||||||
Effects of Interest Rate Swap Agreements | The following table summarizes the effects of the Company’s interest rate swap and cap agreements for the years ended December 31, 2014, 2013 and 2012: | ||||||||||||||||||||||||||
Amount of gains (losses) | Location of (losses) gains reclassified from | Amount of gains (losses) | |||||||||||||||||||||||||
recognized in OCI | reclassified from accumulated | ||||||||||||||||||||||||||
on interest rate swap | OCI into income | ||||||||||||||||||||||||||
and cap agreements | |||||||||||||||||||||||||||
Years ended December 31, | accumulated | Years ended December 31, | |||||||||||||||||||||||||
Derivatives designated as cash flow hedges | 2014 | 2013 | 2012 | OCI into | 2014 | 2013 | 2012 | ||||||||||||||||||||
income | |||||||||||||||||||||||||||
Interest rate swap agreements | $ | (8,390 | ) | $ | 1,251 | $ | (8,838 | ) | Debt expense | $ | 12,279 | $ | 15,678 | $ | (12,989 | ) | |||||||||||
Interest rate cap agreements | (8,119 | ) | (974 | ) | (1,316 | ) | Debt expense | 5,130 | 5,418 | (3,589 | ) | ||||||||||||||||
Tax (expense) benefit | 6,450 | (108 | ) | 3,950 | (6,801 | ) | (8,207 | ) | 6,448 | ||||||||||||||||||
Total | $ | (10,059 | ) | $ | 169 | $ | (6,204 | ) | $ | 10,608 | $ | 12,889 | $ | (10,130 | ) | ||||||||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Leases [Abstract] | |||||||||
Future Minimum Lease Payments Under Non-cancelable Operating Leases and Capital Leases | Future minimum lease payments under non-cancelable operating leases and capital leases are as follows: | ||||||||
Operating | Capital | ||||||||
leases | leases | ||||||||
2015 | $ | 395,862 | $ | 21,011 | |||||
2016 | 370,920 | 21,277 | |||||||
2017 | 344,232 | 21,552 | |||||||
2018 | 302,752 | 21,961 | |||||||
2019 | 262,645 | 22,615 | |||||||
Thereafter | 901,792 | 202,245 | |||||||
$ | 2,578,203 | 310,661 | |||||||
Less portion representing interest | (92,564 | ) | |||||||
Total capital lease obligations, including current portion | $ | 218,097 | |||||||
Longterm_incentive_compensatio1
Long-term incentive compensation and shareholders' equity (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Share Based Compensation [Abstract] | |||||||||||||||||||||
Summary of Status of Awards Under Stock-Based Compensation Plans and Agreements | A combined summary of the status of the Company’s stock-settled awards under the 2011 Plan, including base shares for stock-settled stock appreciation rights and stock-settled stock unit awards is as follows: | ||||||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||||||
Stock appreciation rights | Stock units | ||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||
average | average | average | |||||||||||||||||||
exercise | remaining | remaining | |||||||||||||||||||
Awards | price | contractual life | Awards | contractual life | |||||||||||||||||
Outstanding at beginning of year | 12,956,094 | $ | 45.44 | 966,596 | |||||||||||||||||
Granted | 1,553,829 | 70.15 | 332,007 | ||||||||||||||||||
Exercised | (3,473,804 | ) | 32.05 | (303,970 | ) | ||||||||||||||||
Cancelled | (450,947 | ) | 51.49 | (72,735 | ) | ||||||||||||||||
Outstanding at end of period | 10,585,172 | $ | 53.21 | 2.7 | 921,898 | 1.5 | |||||||||||||||
Exercisable at end of period | 2,541,397 | $ | 42.79 | 1.6 | 496 | 0.3 | |||||||||||||||
Weighted-average fair value of grants in 2014 | $ | 16.41 | $ | 72.24 | |||||||||||||||||
Weighted-average fair value of grants in 2013 | $ | 13.47 | $ | 58.9 | |||||||||||||||||
Weighted-average fair value of grants in 2012 | $ | 11.28 | $ | 54.85 | |||||||||||||||||
Summary of Range of Exercise Prices | |||||||||||||||||||||
Awards | Weighted average | Awards | Weighted average | ||||||||||||||||||
Range of SSAR base prices | outstanding | exercise price | exercisable | exercise price | |||||||||||||||||
$20.01–$30.00 | 9,000 | 29.9 | 9,000 | 29.9 | |||||||||||||||||
$30.01–$40.00 | 893,976 | 34.92 | 710,869 | 34.65 | |||||||||||||||||
$40.01–$50.00 | 3,230,512 | 43.02 | 1,545,204 | 42.86 | |||||||||||||||||
$50.01–$60.00 | 4,577,354 | 57.49 | 36,324 | 55.03 | |||||||||||||||||
$60.01–$70.00 | 1,470,547 | 68.06 | 240,000 | 65.08 | |||||||||||||||||
$70.01–$80.00 | 403,783 | 73.07 | — | — | |||||||||||||||||
Total | 10,585,172 | $ | 53.21 | 2,541,397 | $ | 42.79 | |||||||||||||||
Summary of Weighted Average Valuation Inputs | A summary of the weighted average valuation inputs described above used for estimating the grant-date fair value of stock-settled stock appreciation rights awards granted in the periods indicated is as follows: | ||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Expected term | 4.2 years | 4.1 years | 3.7 years | ||||||||||||||||||
Expected volatility | 25.8 | % | 27.2 | % | 28 | % | |||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||||||
Risk-free interest rate | 1.5 | % | 0.7 | % | 0.6 | % | |||||||||||||||
Effects of Changes in DaVita Inc's Ownership Interest on Company's Equity | The effects of changes in DaVita HealthCare Partners Inc.’s ownership interest on the Company’s equity are as follows: | ||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 633,446 | $ | 536,017 | |||||||||||||||
Increase (decrease) in paid-in capital for sales of | 355 | (1,442 | ) | 1,064 | |||||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Decrease in paid-in capital for the purchase of a | (5,357 | ) | (3,119 | ) | (20,694 | ) | |||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Net transfer to noncontrolling interests | (5,002 | ) | (4,561 | ) | (19,630 | ) | |||||||||||||||
Change from net income attributable to DaVita | $ | 718,112 | $ | 628,885 | $ | 516,387 | |||||||||||||||
HealthCare Partners Inc. and transfers to | |||||||||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Other_comprehensive_income_los1
Other comprehensive income (loss) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Statement Of Income And Comprehensive Income [Abstract] | |||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) | Charges and credits to other comprehensive income (loss) have been as follows: | ||||||||||||||||
Interest rate | Investment | Foreign | Accumulated | ||||||||||||||
swap and cap | securities | currency | other | ||||||||||||||
agreements | translation | comprehensive | |||||||||||||||
adjustments | income (loss) | ||||||||||||||||
Balance at December 31, 2011 | $ | (19,328 | ) | $ | (156 | ) | $ | — | $ | (19,484 | ) | ||||||
Unrealized (losses) gains | (10,154 | ) | 2,524 | (1,205 | ) | (8,835 | ) | ||||||||||
Related income tax | 3,950 | (983 | ) | — | 2,967 | ||||||||||||
(6,204 | ) | 1,541 | (1,205 | ) | (5,868 | ) | |||||||||||
Reclassification from accumulated other | 16,578 | (123 | ) | — | 16,455 | ||||||||||||
comprehensive losses (income) into net income | |||||||||||||||||
Related income tax | (6,448 | ) | 48 | — | (6,400 | ) | |||||||||||
10,130 | (75 | ) | — | 10,055 | |||||||||||||
Balance at December 31, 2012 | $ | (15,402 | ) | $ | 1,310 | $ | (1,205 | ) | $ | (15,297 | ) | ||||||
Unrealized gains (losses) | 277 | 3,752 | (2,216 | ) | 1,813 | ||||||||||||
Related income tax | (108 | ) | (1,452 | ) | — | (1,560 | ) | ||||||||||
169 | 2,300 | (2,216 | ) | 253 | |||||||||||||
Reclassification from accumulated other | 21,096 | (802 | ) | — | 20,294 | ||||||||||||
comprehensive losses (income) into net income | |||||||||||||||||
Related income tax | (8,207 | ) | 312 | — | (7,895 | ) | |||||||||||
12,889 | (490 | ) | — | 12,399 | |||||||||||||
Balance at December 31, 2013 | $ | (2,344 | ) | $ | 3,120 | $ | (3,421 | ) | $ | (2,645 | ) | ||||||
Unrealized (losses) gains | (16,509 | ) | 425 | (22,952 | ) | (39,036 | ) | ||||||||||
Related income tax | 6,450 | (187 | ) | — | 6,263 | ||||||||||||
(10,059 | ) | 238 | (22,952 | ) | (32,773 | ) | |||||||||||
Reclassification from accumulated other | 17,409 | (340 | ) | — | 17,069 | ||||||||||||
comprehensive losses (income) into net income | |||||||||||||||||
Related income tax | (6,801 | ) | 133 | — | (6,668 | ) | |||||||||||
10,608 | (207 | ) | — | 10,401 | |||||||||||||
Balance at December 31, 2014 | $ | (1,795 | ) | $ | 3,151 | $ | (26,373 | ) | $ | (25,017 | ) | ||||||
Acquisitions_and_discontinued_1
Acquisitions and discontinued operations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Reconciliation of Changes in Contingent Earn-Out Obligations | The following is a reconciliation of changes in the contingent earn-out obligations for the year ended December 31, 2014: | ||||||||||||
Beginning balance, January 1, 2014 | $ | 28,058 | |||||||||||
Contingent earn-out obligations associated with acquisitions | 18,234 | ||||||||||||
Remeasurement of fair value | (4,448 | ) | |||||||||||
Payments of contingent earn-out obligations | (2,715 | ) | |||||||||||
$ | 39,129 | ||||||||||||
Pro Forma Summary of Results of Operations | The following summary, prepared on a pro forma basis, combines the results of operations as if all acquisitions and divestitures in 2014 and 2013 had been consummated as of the beginning of 2013, after including the impact of certain adjustments such as amortization of intangibles, interest expense on acquisition financing and income tax effects. | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
(unaudited) | |||||||||||||
Pro forma net revenues | $ | 12,887,330 | $ | 12,160,749 | |||||||||
Pro forma net income attributable to DaVita HealthCare Partners Inc. | 733,490 | 651,204 | |||||||||||
Pro forma income from continuing operations attributable to DaVita HealthCare Partners Inc. | 733,490 | 651,204 | |||||||||||
Pro forma basic net income per share attributable to DaVita HealthCare Partners Inc. | 3.45 | 3.1 | |||||||||||
Pro forma diluted net income per share attributable to DaVita HealthCare Partners Inc. | 3.38 | 3.03 | |||||||||||
HomeChoice Partners | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Results from Discontinued Operations | The results from discontinued operations related to HomeChoice were as follows: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net revenues | — | $ | 6,351 | $ | 67,990 | ||||||||
Loss before income taxes | — | (223 | ) | (304 | ) | ||||||||
Income tax benefit | — | (84 | ) | (82 | ) | ||||||||
Loss from discontinued operations | $ | — | $ | (139 | ) | $ | (222 | ) | |||||
Net Assets of Discontinued Operations | Net assets of discontinued operations related to HomeChoice as of February 1, 2013, were as follows: | ||||||||||||
Current assets | $ | 17,039 | |||||||||||
Property and equipment, net | 2,963 | ||||||||||||
Long-term assets | 28 | ||||||||||||
Goodwill | 31,853 | ||||||||||||
Liabilities and noncontrolling interests | (8,998 | ) | |||||||||||
Net assets from discontinued operations | $ | 42,885 | |||||||||||
Other dialysis acquisitions | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Aggregate Purchase Cost Allocations | The following table summarizes the assets acquired and liabilities assumed in the above described transactions and recognized at their acquisition dates at estimated fair values, as well as the estimated fair value of the noncontrolling interests assumed in these transactions: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current assets | $ | 915 | $ | 7,215 | $ | 18,708 | |||||||
Property and equipment | 5,999 | 23,760 | 41,741 | ||||||||||
Amortizable intangible and other long-term assets | 95,293 | 80,646 | 90,296 | ||||||||||
Goodwill | 221,514 | 271,267 | 554,685 | ||||||||||
Long-term deferred income taxes | — | (5,666 | ) | (1,838 | ) | ||||||||
Noncontrolling interests assumed | (25,963 | ) | (22,880 | ) | (21,962 | ) | |||||||
Liabilities assumed | (1,883 | ) | (19,265 | ) | (27,211 | ) | |||||||
Aggregate purchase cost | $ | 295,875 | $ | 335,077 | $ | 654,419 | |||||||
HealthCare Partners (HCP) | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Aggregate Purchase Cost Allocations | The following table summarizes the initial assets acquired and liabilities assumed in this transaction and recognized at the acquisition date at their estimated fair values at that date: | ||||||||||||
Current assets, net of cash acquired | $ | 321,235 | |||||||||||
Property and equipment | 102,382 | ||||||||||||
Intangible assets | 1,882,818 | ||||||||||||
Other long-term assets | 100,143 | ||||||||||||
Goodwill | 3,496,713 | ||||||||||||
Current liabilities assumed | (559,180 | ) | |||||||||||
Other long-term liabilities | (169,015 | ) | |||||||||||
Long-term deferred income taxes | (184,015 | ) | |||||||||||
Noncontrolling interests | (29,850 | ) | |||||||||||
$ | 4,961,231 | ||||||||||||
Fair_values_of_financial_instr1
Fair values of financial instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Assets, Liabilities and Temporary Equity Measured at Fair Value on a Recurring Basis | The following tables summarize the Company’s assets, liabilities and temporary equity measured at fair value on a recurring basis as of December 31, 2014 and 2013: | ||||||||||||||||
Total | Quoted prices in | Significant other | Significant | ||||||||||||||
active markets for | observable inputs | unobservable | |||||||||||||||
identical assets | (Level 2) | inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
31-Dec-14 | |||||||||||||||||
Assets | |||||||||||||||||
Available for sale securities | $ | 28,123 | $ | 28,123 | $ | — | $ | — | |||||||||
Interest rate cap agreements | $ | 13,934 | $ | — | $ | 13,934 | $ | — | |||||||||
Interest rate swap agreements | $ | 3,281 | $ | — | $ | 3,281 | $ | — | |||||||||
Funds on deposit with third parties | $ | 81,276 | $ | 81,276 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Interest rate swap agreements | $ | 1,457 | $ | — | $ | 1,457 | $ | — | |||||||||
Contingent earn-out obligations | $ | 39,129 | $ | — | $ | — | $ | 39,129 | |||||||||
Temporary equity | |||||||||||||||||
Noncontrolling interests subject to put provisions | $ | 829,965 | $ | — | $ | — | $ | 829,965 | |||||||||
31-Dec-13 | |||||||||||||||||
Assets | |||||||||||||||||
Available for sale securities | $ | 19,421 | $ | 19,421 | $ | — | $ | — | |||||||||
Interest rate cap agreements | $ | 7,567 | $ | — | $ | 7,567 | $ | — | |||||||||
Interest rate swap agreements | $ | 10,004 | $ | — | $ | 10,004 | $ | — | |||||||||
Funds on deposit with third parties | $ | 79,317 | $ | 79,317 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Interest rate swap agreements | $ | 12,069 | $ | — | $ | 12,069 | $ | — | |||||||||
Contingent earn-out obligations | $ | 28,058 | $ | — | $ | — | $ | 28,058 | |||||||||
Temporary equity | |||||||||||||||||
Noncontrolling interests subject to put provisions | $ | 697,300 | $ | — | $ | — | $ | 697,300 | |||||||||
Segment_reporting_Tables
Segment reporting (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Summary of Segment Net Revenues, Segment Operating Income Loss and Reconciliation of Segment Income to Consolidated Income from Continuing Operations Before Income Taxes | The following is a summary of segment revenues, segment operating margin (loss), and a reconciliation of segment operating margin to consolidated income from continuing operations before income taxes: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Segment revenues: | |||||||||||||
U.S. dialysis and related lab services | |||||||||||||
Patient service revenues: | |||||||||||||
External sources | $ | 8,513,089 | $ | 7,998,692 | $ | 7,299,032 | |||||||
Intersegment revenues | 37,112 | 34,080 | 17,786 | ||||||||||
Total dialysis and related lab services revenues | 8,550,201 | 8,032,772 | 7,316,818 | ||||||||||
Less: Provision for uncollectible accounts | (353,028 | ) | (281,146 | ) | (233,580 | ) | |||||||
Net dialysis and related lab services patient | 8,197,173 | 7,751,626 | 7,083,238 | ||||||||||
service revenues | |||||||||||||
Other revenues(1) | 13,498 | 12,600 | 11,447 | ||||||||||
Total net dialysis and related lab services | 8,210,671 | 7,764,226 | 7,094,685 | ||||||||||
revenues | |||||||||||||
HCP | |||||||||||||
HCP revenues: | |||||||||||||
Capitated revenues | $ | 3,190,903 | $ | 2,919,964 | $ | 419,431 | |||||||
Net patient service revenues | 219,306 | 220,251 | 34,407 | ||||||||||
Other revenues(2) | 91,374 | 55,723 | 23,552 | ||||||||||
Intersegment capitated and other revenues | 716 | 250 | — | ||||||||||
Total revenues | $ | 3,502,299 | $ | 3,196,188 | $ | 477,390 | |||||||
Other - Ancillary services and strategic initiatives | |||||||||||||
Net patient service revenues | $ | 122,087 | $ | 75,852 | $ | 16,824 | |||||||
Capitated revenues | 70,385 | 67,351 | 61,906 | ||||||||||
Other external sources | 927,492 | 694,763 | 553,261 | ||||||||||
Intersegment revenues | 19,535 | 13,916 | 10,481 | ||||||||||
Total ancillary services and strategic initiatives | 1,139,499 | 851,882 | 642,472 | ||||||||||
revenues | |||||||||||||
Total net segment revenues | 12,852,469 | 11,812,296 | 8,214,547 | ||||||||||
Elimination of intersegment revenues | (57,363 | ) | (48,246 | ) | (28,267 | ) | |||||||
Consolidated net revenues | $ | 12,795,106 | $ | 11,764,050 | $ | 8,186,280 | |||||||
Segment operating margin (loss):(3) | |||||||||||||
U.S. dialysis and related lab services | $ | 1,637,626 | $ | 1,200,198 | $ | 1,372,265 | |||||||
HCP | 214,983 | 385,253 | 66,930 | ||||||||||
Other——Ancillary services and strategic initiatives | (24,456 | ) | (38,595 | ) | (64,877 | ) | |||||||
Total segment margin | 1,828,153 | 1,546,856 | 1,374,318 | ||||||||||
Reconciliation of segment operating margin to | |||||||||||||
consolidated income from continuing operations before | |||||||||||||
income taxes: | |||||||||||||
Contingent earn-out obligation adjustment | — | 56,977 | — | ||||||||||
Corporate support costs(4) | (13,012 | ) | (53,699 | ) | (46,481 | ) | |||||||
Transaction expenses | — | — | (30,753 | ) | |||||||||
Consolidated operating income | 1,815,141 | 1,550,134 | 1,297,084 | ||||||||||
Debt expense | (410,294 | ) | (429,943 | ) | (288,554 | ) | |||||||
Debt refinancing and redemption charges | (97,548 | ) | — | (10,963 | ) | ||||||||
Other income | 2,374 | 4,787 | 3,737 | ||||||||||
Consolidated income from continuing | $ | 1,309,673 | $ | 1,124,978 | $ | 1,001,304 | |||||||
operations before income taxes | |||||||||||||
-1 | Includes management fees for providing management and administrative services to dialysis centers in which the Company owns a minority equity investment or which are wholly-owned by third parties. | ||||||||||||
-2 | Other revenues primarily relate to providing medical consulting services. | ||||||||||||
-3 | Certain costs previously reported in the ancillary services and strategic initiatives have been reclassified to U.S. dialysis and related lab services to conform to the current year presentation. | ||||||||||||
-4 | Corporate support costs in 2013 also include $7,721 of an adjustment to reduce a tax asset associated with the HCP acquisition escrow provisions. | ||||||||||||
Summary of Depreciation and Amortization Expense by Segment | Depreciation and amortization expense by segment is as follows: | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. dialysis and related lab services | $ | 402,767 | $ | 355,879 | $ | 310,375 | |||||||
HCP | 169,485 | 158,356 | 24,544 | ||||||||||
Other - Ancillary services and strategic initiatives | 18,683 | 14,502 | 7,050 | ||||||||||
$ | 590,935 | $ | 528,737 | $ | 341,969 | ||||||||
Summary of Assets by Segment | Summary of assets by segment is as follows: | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Segment assets | |||||||||||||
U.S. dialysis and related lab services (including equity investments of $28,138 and $27,009, respectively) | $ | 10,959,096 | $ | 10,248,993 | |||||||||
HCP (including equity investments of $15,393 and $13,677, respectively) | 6,285,984 | 6,265,767 | |||||||||||
Other - —Ancillary services and strategic initiatives(1) (including equity investments of $22,106 in 2014) | 697,635 | 584,117 | |||||||||||
Consolidated assets | $ | 17,942,715 | $ | 17,098,877 | |||||||||
-1 | Includes approximately $44,000 and $26,000 in 2014 and 2013, respectively, of net property and equipment related to the Company’s international operations. | ||||||||||||
Summary of Expenditures for Property and Equipment by Segment | Expenditures for property and equipment by segment is as follows: | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. dialysis and related lab services | $ | 560,610 | $ | 554,345 | $ | 524,180 | |||||||
HCP | 27,885 | 31,582 | 7,464 | ||||||||||
Other - Ancillary services and strategic initiatives | 52,835 | 31,670 | 18,502 | ||||||||||
$ | 641,330 | $ | 617,597 | $ | 550,146 | ||||||||
Supplemental_cash_flow_informa1
Supplemental cash flow information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||
Supplemental Cash Flow Information | The table below provides supplemental cash flow information: | ||||||||||||
Year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash paid: | |||||||||||||
Income taxes | $ | 238,615 | $ | 341,426 | $ | 322,018 | |||||||
Interest | 351,967 | 405,030 | 257,640 | ||||||||||
Non-cash investing and financing activities: | |||||||||||||
Fixed assets under capital lease obligations | 72,389 | 60,920 | 55,813 | ||||||||||
Selected_quarterly_financial_d1
Selected quarterly financial data (unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Selected quarterly financial data (unaudited) | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
31-Dec | 30-Sep | 30-Jun | 31-Mar | 31-Dec | 30-Sep | 30-Jun | 31-Mar | ||||||||||||||||||||||||||
Net revenues | $ | 3,328,017 | $ | 3,251,824 | $ | 3,172,489 | $ | 3,042,776 | $ | 3,063,209 | $ | 2,999,586 | $ | 2,871,673 | $ | 2,829,582 | |||||||||||||||||
Operating income | $ | 452,085 | $ | 437,536 | $ | 484,295 | $ | 441,225 | $ | 484,179 | $ | 377,074 | $ | 522,020 | $ | 166,861 | |||||||||||||||||
Income from continuing operations | $ | 354,365 | $ | 336,412 | $ | 282,308 | $ | 336,588 | $ | 380,020 | $ | 270,766 | $ | 412,550 | $ | 61,642 | |||||||||||||||||
before income taxes | |||||||||||||||||||||||||||||||||
Discontinued operations, net of tax. | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 13,236 | |||||||||||||||||
Net income attributable to DaVita | $ | 208,020 | $ | 184,122 | $ | 147,683 | $ | 183,289 | $ | 212,278 | $ | 136,628 | $ | 254,376 | $ | 30,164 | |||||||||||||||||
HealthCare Partners Inc. | |||||||||||||||||||||||||||||||||
Basic income from continuing | $ | 0.98 | $ | 0.87 | $ | 0.7 | $ | 0.87 | $ | 1.01 | $ | 0.65 | $ | 1.21 | $ | 0.08 | |||||||||||||||||
operations per share attributable | |||||||||||||||||||||||||||||||||
to DaVita HealthCare Partners Inc. | |||||||||||||||||||||||||||||||||
Basic net income per share | $ | 0.98 | $ | 0.87 | $ | 0.7 | $ | 0.87 | $ | 1.01 | $ | 0.65 | $ | 1.21 | $ | 0.14 | |||||||||||||||||
attributable to DaVita HealthCare | |||||||||||||||||||||||||||||||||
Partners Inc. | |||||||||||||||||||||||||||||||||
Diluted income from continuing | $ | 0.96 | $ | 0.85 | $ | 0.68 | $ | 0.85 | $ | 0.99 | $ | 0.64 | $ | 1.18 | $ | 0.08 | |||||||||||||||||
operations per share attributable | |||||||||||||||||||||||||||||||||
to DaVita HealthCare Partners Inc. | |||||||||||||||||||||||||||||||||
Diluted net income per share | $ | 0.96 | $ | 0.85 | $ | 0.68 | $ | 0.85 | $ | 0.99 | $ | 0.64 | $ | 1.18 | $ | 0.14 | |||||||||||||||||
attributable to DaVita HealthCare | |||||||||||||||||||||||||||||||||
Partners Inc. | |||||||||||||||||||||||||||||||||
Consolidating_financial_statem1
Consolidating financial statements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |||||||||||||||||||||
Consolidating Statements of Income | Consolidating Statements of Income | ||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 6,246,683 | $ | 2,739,996 | $ | (118,341 | ) | $ | 8,868,338 | ||||||||||
Less: Provision for uncollectible accounts | — | (238,600 | ) | (128,284 | ) | — | (366,884 | ) | |||||||||||||
Net patient service revenues | — | 6,008,083 | 2,611,712 | (118,341 | ) | 8,501,454 | |||||||||||||||
Capitated revenues | — | 1,689,634 | 1,579,804 | (8,150 | ) | 3,261,288 | |||||||||||||||
Other revenues | 684,066 | 1,639,828 | 24,155 | (1,315,685 | ) | 1,032,364 | |||||||||||||||
Total net revenues | 684,066 | 9,337,545 | 4,215,671 | (1,442,176 | ) | 12,795,106 | |||||||||||||||
Operating expenses and charges | 443,951 | 8,276,991 | 3,701,199 | (1,442,176 | ) | 10,979,965 | |||||||||||||||
Operating income | 240,115 | 1,060,554 | 514,472 | — | 1,815,141 | ||||||||||||||||
Debt (expense) and refinancing charges | (502,762 | ) | (363,623 | ) | (43,449 | ) | 401,992 | (507,842 | ) | ||||||||||||
Other income, net | 385,532 | 11,731 | 7,103 | (401,992 | ) | 2,374 | |||||||||||||||
Income tax expense | 46,856 | 397,268 | 2,219 | — | 446,343 | ||||||||||||||||
Equity earnings in subsidiaries | 647,085 | 335,691 | — | (982,776 | ) | — | |||||||||||||||
Net income | 723,114 | 647,085 | 475,907 | (982,776 | ) | 863,330 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (140,216 | ) | (140,216 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (1,122,992 | ) | $ | 723,114 | ||||||||||
Consolidating Statements of Income | |||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 5,989,658 | $ | 2,420,975 | $ | (103,438 | ) | $ | 8,307,195 | ||||||||||
Less: Provision for uncollectible accounts | — | (177,415 | ) | (116,131 | ) | — | (293,546 | ) | |||||||||||||
Net patient service revenues | — | 5,812,243 | 2,304,844 | (103,438 | ) | 8,013,649 | |||||||||||||||
Capitated revenues | — | 1,427,321 | 1,560,244 | (250 | ) | 2,987,315 | |||||||||||||||
Other revenues | 616,155 | 1,534,310 | 17,867 | (1,405,246 | ) | 763,086 | |||||||||||||||
Total net revenues | 616,155 | 8,773,874 | 3,882,955 | (1,508,934 | ) | 11,764,050 | |||||||||||||||
Operating expenses and charges | 434,776 | 7,843,476 | 3,444,598 | (1,508,934 | ) | 10,213,916 | |||||||||||||||
Operating income | 181,379 | 930,398 | 438,357 | — | 1,550,134 | ||||||||||||||||
Debt (expense) | (427,141 | ) | (366,188 | ) | (39,413 | ) | 402,799 | (429,943 | ) | ||||||||||||
Other income, net | 402,910 | 1,903 | 2,773 | (402,799 | ) | 4,787 | |||||||||||||||
Income tax expense | 59,716 | 303,603 | 17,694 | — | 381,013 | ||||||||||||||||
Equity earnings in subsidiaries | 536,014 | 260,268 | — | (796,282 | ) | — | |||||||||||||||
Income from continuing operations | 633,446 | 522,778 | 384,023 | (796,282 | ) | 743,965 | |||||||||||||||
Discontinued operations net of gain on disposal | — | — | 13,236 | — | 13,236 | ||||||||||||||||
of discontinued operations | |||||||||||||||||||||
Net income | 633,446 | 522,778 | 397,259 | (796,282 | ) | 757,201 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (123,755 | ) | (123,755 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (920,037 | ) | $ | 633,446 | ||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 5,417,800 | $ | 2,005,424 | $ | (71,322 | ) | $ | 7,351,902 | ||||||||||
Less: Provision for uncollectible accounts | — | (124,592 | ) | (110,626 | ) | — | (235,218 | ) | |||||||||||||
Net patient service revenues | — | 5,293,208 | 1,894,798 | (71,322 | ) | 7,116,684 | |||||||||||||||
Capitated revenues | — | 232,744 | 248,592 | — | 481,336 | ||||||||||||||||
Other revenues | 514,190 | 745,920 | 10,190 | (682,040 | ) | 588,260 | |||||||||||||||
Total net revenues | 514,190 | 6,271,872 | 2,153,580 | (753,362 | ) | 8,186,280 | |||||||||||||||
Operating expenses and charges | 365,680 | 5,479,531 | 1,797,347 | (753,362 | ) | 6,889,196 | |||||||||||||||
Operating income | 148,510 | 792,341 | 356,233 | — | 1,297,084 | ||||||||||||||||
Debt (expense) and refinancing charges | (331,944 | ) | (207,499 | ) | (27,193 | ) | 267,119 | (299,517 | ) | ||||||||||||
Other income, net | 265,508 | 4,305 | 1,043 | (267,119 | ) | 3,737 | |||||||||||||||
Income tax expense | 32,912 | 320,267 | 6,666 | — | 359,845 | ||||||||||||||||
Equity earnings in subsidiaries | 486,855 | 218,197 | — | (705,052 | ) | — | |||||||||||||||
Income from continuing operations | 536,017 | 487,077 | 323,417 | (705,052 | ) | 641,459 | |||||||||||||||
Discontinued operations | — | — | (222 | ) | — | (222 | ) | ||||||||||||||
Net income | 536,017 | 487,077 | 323,195 | (705,052 | ) | 641,237 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (105,220 | ) | (105,220 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (810,272 | ) | $ | 536,017 | ||||||||||
Consolidating Statements of Comprehensive Income | Consolidating Statements of Comprehensive Income | ||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Net income | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (982,776 | ) | $ | 863,330 | ||||||||||
Other comprehensive income (losses) | 580 | — | (22,952 | ) | — | (22,372 | ) | ||||||||||||||
Total comprehensive income | 723,694 | 647,085 | 452,955 | (982,776 | ) | 840,958 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (140,216 | ) | (140,216 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 723,694 | $ | 647,085 | $ | 452,955 | $ | (1,122,992 | ) | $ | 700,742 | ||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Net income | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (796,282 | ) | $ | 757,201 | ||||||||||
Other comprehensive income (losses) | 14,868 | — | (2,216 | ) | — | 12,652 | |||||||||||||||
Total comprehensive income | 648,314 | 522,778 | 395,043 | (796,282 | ) | 769,853 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (123,755 | ) | (123,755 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 648,314 | $ | 522,778 | $ | 395,043 | $ | (920,037 | ) | $ | 646,098 | ||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Net income | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (705,052 | ) | $ | 641,237 | ||||||||||
Other comprehensive income (losses) | 5,392 | — | (1,205 | ) | — | 4,187 | |||||||||||||||
Total comprehensive income | 541,409 | 487,077 | 321,990 | (705,052 | ) | 645,424 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (105,220 | ) | (105,220 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 541,409 | $ | 487,077 | $ | 321,990 | $ | (810,272 | ) | $ | 540,204 | ||||||||||
Partners Inc. | |||||||||||||||||||||
Consolidating Balance Sheets | Consolidating Balance Sheets | ||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Cash and cash equivalents | $ | 698,876 | $ | 77,921 | $ | 188,444 | $ | — | $ | 965,241 | |||||||||||
Accounts receivable, net | — | 915,851 | 609,998 | — | 1,525,849 | ||||||||||||||||
Other current assets | 362,672 | 930,093 | 92,942 | — | 1,385,707 | ||||||||||||||||
Total current assets | 1,061,548 | 1,923,865 | 891,384 | — | 3,876,797 | ||||||||||||||||
Property and equipment, net | 195,690 | 1,473,188 | 800,221 | — | 2,469,099 | ||||||||||||||||
Intangible assets, net | 85,338 | 1,811,218 | 52,942 | — | 1,949,498 | ||||||||||||||||
Investments in subsidiaries | 8,868,335 | 1,561,195 | — | (10,429,530 | ) | — | |||||||||||||||
Intercompany receivables | 3,723,454 | — | 564,241 | (4,287,695 | ) | — | |||||||||||||||
Other long-term assets and investments | 70,309 | 60,385 | 101,332 | — | 232,026 | ||||||||||||||||
Goodwill | — | 7,958,221 | 1,457,074 | — | 9,415,295 | ||||||||||||||||
Total assets | $ | 14,004,674 | $ | 14,788,072 | $ | 3,867,194 | $ | (14,717,225 | ) | $ | 17,942,715 | ||||||||||
Current liabilities | $ | 180,977 | $ | 1,493,243 | $ | 414,432 | $ | — | $ | 2,088,652 | |||||||||||
Intercompany payables | — | 3,105,173 | 1,182,522 | (4,287,695 | ) | — | |||||||||||||||
Long-term debt and other long-term liabilities | 8,124,863 | 1,321,321 | 217,603 | — | 9,663,787 | ||||||||||||||||
Noncontrolling interests subject to put provisions | 528,321 | — | — | 301,644 | 829,965 | ||||||||||||||||
Total DaVita HealthCare Partners Inc. | 5,170,513 | 8,868,335 | 1,561,195 | (10,429,530 | ) | 5,170,513 | |||||||||||||||
shareholders’' equity | |||||||||||||||||||||
Noncontrolling interests not subject to put provisions | — | — | 491,442 | (301,644 | ) | 189,798 | |||||||||||||||
Total equity | 5,170,513 | 8,868,335 | 2,052,637 | (10,731,174 | ) | 5,360,311 | |||||||||||||||
Total liabilities and equity | $ | 14,004,674 | $ | 14,788,072 | $ | 3,867,194 | $ | (14,717,225 | ) | $ | 17,942,715 | ||||||||||
As of December 31, 2013 | |||||||||||||||||||||
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 | 904,852 | 108,104 | — | 1,040,866 | ||||||||||||||||
Total current assets | 630,098 | 2,019,399 | 822,781 | — | 3,472,278 | ||||||||||||||||
Property and equipment, net | 177,633 | 1,378,017 | 633,761 | — | 2,189,411 | ||||||||||||||||
Intangible assets, net | 77,531 | 1,882,685 | 64,157 | — | 2,024,373 | ||||||||||||||||
Investments in subsidiaries | 8,231,059 | 1,391,655 | — | (9,622,714 | ) | — | |||||||||||||||
Intercompany receivables | 3,983,214 | — | 480,993 | (4,464,207 | ) | — | |||||||||||||||
Other long-term assets and investments | 61,391 | 70,728 | 67,722 | — | 199,841 | ||||||||||||||||
Goodwill | — | 7,850,910 | 1,362,064 | — | 9,212,974 | ||||||||||||||||
Total assets | $ | 13,160,926 | $ | 14,593,394 | $ | 3,431,478 | $ | (14,086,921 | ) | $ | 17,098,877 | ||||||||||
Current liabilities | $ | 328,875 | $ | 1,776,419 | $ | 356,755 | $ | — | $ | 2,462,049 | |||||||||||
Intercompany payables | — | 3,426,433 | 1,037,774 | (4,464,207 | ) | — | |||||||||||||||
Long-term debt and other long-term liabilities | 7,948,390 | 1,159,483 | 226,114 | — | 9,333,987 | ||||||||||||||||
Noncontrolling interests subject to put provisions | 451,182 | — | — | 246,118 | 697,300 | ||||||||||||||||
Total DaVita HealthCare Partners Inc. | 4,432,479 | 8,231,059 | 1,391,655 | (9,622,714 | ) | 4,432,479 | |||||||||||||||
shareholders’' equity | |||||||||||||||||||||
Noncontrolling interests not subject to put provisions | — | — | 419,180 | (246,118 | ) | 173,062 | |||||||||||||||
Total equity | 4,432,479 | 8,231,059 | 1,810,835 | (9,868,832 | ) | 4,605,541 | |||||||||||||||
Total liabilities and equity | $ | 13,160,926 | $ | 14,593,394 | $ | 3,431,478 | $ | (14,086,921 | ) | $ | 17,098,877 | ||||||||||
Consolidating Statements of Cash Flows | Consolidating Statements of Cash Flows | ||||||||||||||||||||
DaVita | Guarantor | Non-Guarantor | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Subsidiaries | Adjustments | Total | |||||||||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (982,776 | ) | $ | 863,330 | ||||||||||
Changes in operating assets and liabilities and non cash | (597,992 | ) | 120,772 | 90,521 | 982,776 | 596,077 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 125,122 | 767,857 | 566,428 | — | 1,459,407 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (51,374 | ) | (312,191 | ) | (277,765 | ) | — | (641,330 | ) | ||||||||||||
Acquisitions | — | (228,569 | ) | (43,525 | ) | — | (272,094 | ) | |||||||||||||
Proceeds from asset sales | — | 8,791 | — | — | 8,791 | ||||||||||||||||
Purchase of investments and other items | (333,803 | ) | (316 | ) | (38,977 | ) | — | (373,096 | ) | ||||||||||||
Net cash (used in) provided by investing activities | (385,177 | ) | (532,285 | ) | (360,267 | ) | — | (1,277,729 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | 4,513 | (12,545 | ) | 43 | — | (7,989 | ) | ||||||||||||||
Intercompany borrowing | 410,437 | (306,011 | ) | (104,426 | ) | — | — | ||||||||||||||
Other items | (58,207 | ) | (14,099 | ) | (84,684 | ) | — | (156,990 | ) | ||||||||||||
Net cash provided by (used in) financing activities | 356,743 | (332,655 | ) | (189,067 | ) | — | (164,979 | ) | |||||||||||||
Effect of exchange rate changes on cash | — | — | 2,293 | — | 2,293 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 96,688 | (97,083 | ) | 19,387 | — | 18,992 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 602,188 | 175,004 | 169,057 | — | 946,249 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 698,876 | $ | 77,921 | $ | 188,444 | $ | — | $ | 965,241 | |||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (796,282 | ) | $ | 757,201 | ||||||||||
Changes in operating assets and liabilities and non cash | (443,071 | ) | 652,374 | 10,555 | 796,282 | 1,016,140 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 190,375 | 1,175,152 | 407,814 | — | 1,773,341 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (55,252 | ) | (337,042 | ) | (225,303 | ) | — | (617,597 | ) | ||||||||||||
Acquisitions | — | (156,830 | ) | (153,564 | ) | — | (310,394 | ) | |||||||||||||
Proceeds from asset sales | 60,650 | 1,608 | — | — | 62,258 | ||||||||||||||||
Purchase of investments and other items | (4,944 | ) | (3,502 | ) | (2,703 | ) | — | (11,149 | ) | ||||||||||||
Net cash provided by (used in) by investing activities | 454 | (495,766 | ) | (381,570 | ) | — | (876,882 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | (421,739 | ) | (11,061 | ) | (5,207 | ) | — | (438,007 | ) | ||||||||||||
Intercompany borrowing | 585,441 | (664,154 | ) | 78,713 | — | — | |||||||||||||||
Other items | 52,620 | 4,726 | (102,330 | ) | — | (44,984 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | 216,322 | (670,489 | ) | (28,824 | ) | — | (482,991 | ) | |||||||||||||
Effect of exchange rate changes on cash | — | — | (967 | ) | — | (967 | ) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | 407,151 | 8,897 | (3,547 | ) | — | 412,501 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 195,037 | 166,107 | 172,604 | — | 533,748 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 602,188 | $ | 175,004 | $ | 169,057 | $ | — | $ | 946,249 | |||||||||||
Consolidating Statements of Cash Flows | |||||||||||||||||||||
DaVita | Guarantor | Non-Guarantor | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Subsidiaries | Adjustments | Total | |||||||||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (705,052 | ) | $ | 641,237 | ||||||||||
Changes in operating assets and liabilities and non cash | (383,619 | ) | 15,693 | 122,485 | 705,052 | 459,611 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 152,398 | 502,770 | 445,680 | — | 1,100,848 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (72,125 | ) | (305,885 | ) | (172,136 | ) | — | (550,146 | ) | ||||||||||||
Acquisitions | (3,645,760 | ) | (564,499 | ) | (83,818 | ) | — | (4,294,077 | ) | ||||||||||||
Proceeds from asset sales | — | 3,559 | — | — | 3,559 | ||||||||||||||||
Proceeds from investment sales and other items | 2,841 | (1,761 | ) | 7,134 | — | 8,214 | |||||||||||||||
Net cash used in by investing activities | (3,715,044 | ) | (868,586 | ) | (248,820 | ) | — | (4,832,450 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | 3,909,760 | (23,805 | ) | 18,938 | — | 3,904,893 | |||||||||||||||
Intercompany borrowing | (586,050 | ) | 580,825 | 5,225 | — | — | |||||||||||||||
Other items | 68,697 | (25,097 | ) | (76,109 | ) | — | (32,509 | ) | |||||||||||||
Net cash provided by (used in) financing activities | 3,392,407 | 531,923 | (51,946 | ) | — | 3,872,384 | |||||||||||||||
Effect of exchange rate changes on cash | — | — | (786 | ) | — | (786 | ) | ||||||||||||||
Net (decrease) increase in cash and cash equivalents | (170,239 | ) | 166,107 | 144,128 | — | 139,996 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 365,276 | — | 28,476 | — | 393,752 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 195,037 | $ | 166,107 | $ | 172,604 | $ | — | $ | 533,748 | |||||||||||
Supplemental_data_Tables
Supplemental data (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||||
Consolidating Statements of Income | Consolidating Statements of Income | ||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 6,246,683 | $ | 2,739,996 | $ | (118,341 | ) | $ | 8,868,338 | ||||||||||
Less: Provision for uncollectible accounts | — | (238,600 | ) | (128,284 | ) | — | (366,884 | ) | |||||||||||||
Net patient service revenues | — | 6,008,083 | 2,611,712 | (118,341 | ) | 8,501,454 | |||||||||||||||
Capitated revenues | — | 1,689,634 | 1,579,804 | (8,150 | ) | 3,261,288 | |||||||||||||||
Other revenues | 684,066 | 1,639,828 | 24,155 | (1,315,685 | ) | 1,032,364 | |||||||||||||||
Total net revenues | 684,066 | 9,337,545 | 4,215,671 | (1,442,176 | ) | 12,795,106 | |||||||||||||||
Operating expenses and charges | 443,951 | 8,276,991 | 3,701,199 | (1,442,176 | ) | 10,979,965 | |||||||||||||||
Operating income | 240,115 | 1,060,554 | 514,472 | — | 1,815,141 | ||||||||||||||||
Debt (expense) and refinancing charges | (502,762 | ) | (363,623 | ) | (43,449 | ) | 401,992 | (507,842 | ) | ||||||||||||
Other income, net | 385,532 | 11,731 | 7,103 | (401,992 | ) | 2,374 | |||||||||||||||
Income tax expense | 46,856 | 397,268 | 2,219 | — | 446,343 | ||||||||||||||||
Equity earnings in subsidiaries | 647,085 | 335,691 | — | (982,776 | ) | — | |||||||||||||||
Net income | 723,114 | 647,085 | 475,907 | (982,776 | ) | 863,330 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (140,216 | ) | (140,216 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (1,122,992 | ) | $ | 723,114 | ||||||||||
Consolidating Statements of Income | |||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 5,989,658 | $ | 2,420,975 | $ | (103,438 | ) | $ | 8,307,195 | ||||||||||
Less: Provision for uncollectible accounts | — | (177,415 | ) | (116,131 | ) | — | (293,546 | ) | |||||||||||||
Net patient service revenues | — | 5,812,243 | 2,304,844 | (103,438 | ) | 8,013,649 | |||||||||||||||
Capitated revenues | — | 1,427,321 | 1,560,244 | (250 | ) | 2,987,315 | |||||||||||||||
Other revenues | 616,155 | 1,534,310 | 17,867 | (1,405,246 | ) | 763,086 | |||||||||||||||
Total net revenues | 616,155 | 8,773,874 | 3,882,955 | (1,508,934 | ) | 11,764,050 | |||||||||||||||
Operating expenses and charges | 434,776 | 7,843,476 | 3,444,598 | (1,508,934 | ) | 10,213,916 | |||||||||||||||
Operating income | 181,379 | 930,398 | 438,357 | — | 1,550,134 | ||||||||||||||||
Debt (expense) | (427,141 | ) | (366,188 | ) | (39,413 | ) | 402,799 | (429,943 | ) | ||||||||||||
Other income, net | 402,910 | 1,903 | 2,773 | (402,799 | ) | 4,787 | |||||||||||||||
Income tax expense | 59,716 | 303,603 | 17,694 | — | 381,013 | ||||||||||||||||
Equity earnings in subsidiaries | 536,014 | 260,268 | — | (796,282 | ) | — | |||||||||||||||
Income from continuing operations | 633,446 | 522,778 | 384,023 | (796,282 | ) | 743,965 | |||||||||||||||
Discontinued operations net of gain on disposal | — | — | 13,236 | — | 13,236 | ||||||||||||||||
of discontinued operations | |||||||||||||||||||||
Net income | 633,446 | 522,778 | 397,259 | (796,282 | ) | 757,201 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (123,755 | ) | (123,755 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (920,037 | ) | $ | 633,446 | ||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Patient services revenues | $ | — | $ | 5,417,800 | $ | 2,005,424 | $ | (71,322 | ) | $ | 7,351,902 | ||||||||||
Less: Provision for uncollectible accounts | — | (124,592 | ) | (110,626 | ) | — | (235,218 | ) | |||||||||||||
Net patient service revenues | — | 5,293,208 | 1,894,798 | (71,322 | ) | 7,116,684 | |||||||||||||||
Capitated revenues | — | 232,744 | 248,592 | — | 481,336 | ||||||||||||||||
Other revenues | 514,190 | 745,920 | 10,190 | (682,040 | ) | 588,260 | |||||||||||||||
Total net revenues | 514,190 | 6,271,872 | 2,153,580 | (753,362 | ) | 8,186,280 | |||||||||||||||
Operating expenses and charges | 365,680 | 5,479,531 | 1,797,347 | (753,362 | ) | 6,889,196 | |||||||||||||||
Operating income | 148,510 | 792,341 | 356,233 | — | 1,297,084 | ||||||||||||||||
Debt (expense) and refinancing charges | (331,944 | ) | (207,499 | ) | (27,193 | ) | 267,119 | (299,517 | ) | ||||||||||||
Other income, net | 265,508 | 4,305 | 1,043 | (267,119 | ) | 3,737 | |||||||||||||||
Income tax expense | 32,912 | 320,267 | 6,666 | — | 359,845 | ||||||||||||||||
Equity earnings in subsidiaries | 486,855 | 218,197 | — | (705,052 | ) | — | |||||||||||||||
Income from continuing operations | 536,017 | 487,077 | 323,417 | (705,052 | ) | 641,459 | |||||||||||||||
Discontinued operations | — | — | (222 | ) | — | (222 | ) | ||||||||||||||
Net income | 536,017 | 487,077 | 323,195 | (705,052 | ) | 641,237 | |||||||||||||||
Less: Net income attributable to noncontrolling interests | — | — | — | (105,220 | ) | (105,220 | ) | ||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (810,272 | ) | $ | 536,017 | ||||||||||
Consolidating Statements of Comprehensive Income | Consolidating Statements of Comprehensive Income | ||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Net income | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (982,776 | ) | $ | 863,330 | ||||||||||
Other comprehensive income (losses) | 580 | — | (22,952 | ) | — | (22,372 | ) | ||||||||||||||
Total comprehensive income | 723,694 | 647,085 | 452,955 | (982,776 | ) | 840,958 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (140,216 | ) | (140,216 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 723,694 | $ | 647,085 | $ | 452,955 | $ | (1,122,992 | ) | $ | 700,742 | ||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Net income | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (796,282 | ) | $ | 757,201 | ||||||||||
Other comprehensive income (losses) | 14,868 | — | (2,216 | ) | — | 12,652 | |||||||||||||||
Total comprehensive income | 648,314 | 522,778 | 395,043 | (796,282 | ) | 769,853 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (123,755 | ) | (123,755 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 648,314 | $ | 522,778 | $ | 395,043 | $ | (920,037 | ) | $ | 646,098 | ||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Net income | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (705,052 | ) | $ | 641,237 | ||||||||||
Other comprehensive income (losses) | 5,392 | — | (1,205 | ) | — | 4,187 | |||||||||||||||
Total comprehensive income | 541,409 | 487,077 | 321,990 | (705,052 | ) | 645,424 | |||||||||||||||
Less: Comprehensive income attributable to | — | — | — | (105,220 | ) | (105,220 | ) | ||||||||||||||
noncontrolling interest | |||||||||||||||||||||
Comprehensive income attributable to DaVita HealthCare | $ | 541,409 | $ | 487,077 | $ | 321,990 | $ | (810,272 | ) | $ | 540,204 | ||||||||||
Partners Inc. | |||||||||||||||||||||
Consolidating Balance Sheets | Consolidating Balance Sheets | ||||||||||||||||||||
DaVita | Guarantor | Non- | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Guarantor | Adjustments | Total | |||||||||||||||||
Partners Inc. | Subsidiaries | ||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Cash and cash equivalents | $ | 698,876 | $ | 77,921 | $ | 188,444 | $ | — | $ | 965,241 | |||||||||||
Accounts receivable, net | — | 915,851 | 609,998 | — | 1,525,849 | ||||||||||||||||
Other current assets | 362,672 | 930,093 | 92,942 | — | 1,385,707 | ||||||||||||||||
Total current assets | 1,061,548 | 1,923,865 | 891,384 | — | 3,876,797 | ||||||||||||||||
Property and equipment, net | 195,690 | 1,473,188 | 800,221 | — | 2,469,099 | ||||||||||||||||
Intangible assets, net | 85,338 | 1,811,218 | 52,942 | — | 1,949,498 | ||||||||||||||||
Investments in subsidiaries | 8,868,335 | 1,561,195 | — | (10,429,530 | ) | — | |||||||||||||||
Intercompany receivables | 3,723,454 | — | 564,241 | (4,287,695 | ) | — | |||||||||||||||
Other long-term assets and investments | 70,309 | 60,385 | 101,332 | — | 232,026 | ||||||||||||||||
Goodwill | — | 7,958,221 | 1,457,074 | — | 9,415,295 | ||||||||||||||||
Total assets | $ | 14,004,674 | $ | 14,788,072 | $ | 3,867,194 | $ | (14,717,225 | ) | $ | 17,942,715 | ||||||||||
Current liabilities | $ | 180,977 | $ | 1,493,243 | $ | 414,432 | $ | — | $ | 2,088,652 | |||||||||||
Intercompany payables | — | 3,105,173 | 1,182,522 | (4,287,695 | ) | — | |||||||||||||||
Long-term debt and other long-term liabilities | 8,124,863 | 1,321,321 | 217,603 | — | 9,663,787 | ||||||||||||||||
Noncontrolling interests subject to put provisions | 528,321 | — | — | 301,644 | 829,965 | ||||||||||||||||
Total DaVita HealthCare Partners Inc. | 5,170,513 | 8,868,335 | 1,561,195 | (10,429,530 | ) | 5,170,513 | |||||||||||||||
shareholders’' equity | |||||||||||||||||||||
Noncontrolling interests not subject to put provisions | — | — | 491,442 | (301,644 | ) | 189,798 | |||||||||||||||
Total equity | 5,170,513 | 8,868,335 | 2,052,637 | (10,731,174 | ) | 5,360,311 | |||||||||||||||
Total liabilities and equity | $ | 14,004,674 | $ | 14,788,072 | $ | 3,867,194 | $ | (14,717,225 | ) | $ | 17,942,715 | ||||||||||
As of December 31, 2013 | |||||||||||||||||||||
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 | 904,852 | 108,104 | — | 1,040,866 | ||||||||||||||||
Total current assets | 630,098 | 2,019,399 | 822,781 | — | 3,472,278 | ||||||||||||||||
Property and equipment, net | 177,633 | 1,378,017 | 633,761 | — | 2,189,411 | ||||||||||||||||
Intangible assets, net | 77,531 | 1,882,685 | 64,157 | — | 2,024,373 | ||||||||||||||||
Investments in subsidiaries | 8,231,059 | 1,391,655 | — | (9,622,714 | ) | — | |||||||||||||||
Intercompany receivables | 3,983,214 | — | 480,993 | (4,464,207 | ) | — | |||||||||||||||
Other long-term assets and investments | 61,391 | 70,728 | 67,722 | — | 199,841 | ||||||||||||||||
Goodwill | — | 7,850,910 | 1,362,064 | — | 9,212,974 | ||||||||||||||||
Total assets | $ | 13,160,926 | $ | 14,593,394 | $ | 3,431,478 | $ | (14,086,921 | ) | $ | 17,098,877 | ||||||||||
Current liabilities | $ | 328,875 | $ | 1,776,419 | $ | 356,755 | $ | — | $ | 2,462,049 | |||||||||||
Intercompany payables | — | 3,426,433 | 1,037,774 | (4,464,207 | ) | — | |||||||||||||||
Long-term debt and other long-term liabilities | 7,948,390 | 1,159,483 | 226,114 | — | 9,333,987 | ||||||||||||||||
Noncontrolling interests subject to put provisions | 451,182 | — | — | 246,118 | 697,300 | ||||||||||||||||
Total DaVita HealthCare Partners Inc. | 4,432,479 | 8,231,059 | 1,391,655 | (9,622,714 | ) | 4,432,479 | |||||||||||||||
shareholders’' equity | |||||||||||||||||||||
Noncontrolling interests not subject to put provisions | — | — | 419,180 | (246,118 | ) | 173,062 | |||||||||||||||
Total equity | 4,432,479 | 8,231,059 | 1,810,835 | (9,868,832 | ) | 4,605,541 | |||||||||||||||
Total liabilities and equity | $ | 13,160,926 | $ | 14,593,394 | $ | 3,431,478 | $ | (14,086,921 | ) | $ | 17,098,877 | ||||||||||
Consolidating Statements of Cash Flows | Consolidating Statements of Cash Flows | ||||||||||||||||||||
DaVita | Guarantor | Non-Guarantor | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Subsidiaries | Adjustments | Total | |||||||||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 723,114 | $ | 647,085 | $ | 475,907 | $ | (982,776 | ) | $ | 863,330 | ||||||||||
Changes in operating assets and liabilities and non cash | (597,992 | ) | 120,772 | 90,521 | 982,776 | 596,077 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 125,122 | 767,857 | 566,428 | — | 1,459,407 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (51,374 | ) | (312,191 | ) | (277,765 | ) | — | (641,330 | ) | ||||||||||||
Acquisitions | — | (228,569 | ) | (43,525 | ) | — | (272,094 | ) | |||||||||||||
Proceeds from asset sales | — | 8,791 | — | — | 8,791 | ||||||||||||||||
Purchase of investments and other items | (333,803 | ) | (316 | ) | (38,977 | ) | — | (373,096 | ) | ||||||||||||
Net cash (used in) provided by investing activities | (385,177 | ) | (532,285 | ) | (360,267 | ) | — | (1,277,729 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | 4,513 | (12,545 | ) | 43 | — | (7,989 | ) | ||||||||||||||
Intercompany borrowing | 410,437 | (306,011 | ) | (104,426 | ) | — | — | ||||||||||||||
Other items | (58,207 | ) | (14,099 | ) | (84,684 | ) | — | (156,990 | ) | ||||||||||||
Net cash provided by (used in) financing activities | 356,743 | (332,655 | ) | (189,067 | ) | — | (164,979 | ) | |||||||||||||
Effect of exchange rate changes on cash | — | — | 2,293 | — | 2,293 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 96,688 | (97,083 | ) | 19,387 | — | 18,992 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 602,188 | 175,004 | 169,057 | — | 946,249 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 698,876 | $ | 77,921 | $ | 188,444 | $ | — | $ | 965,241 | |||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 633,446 | $ | 522,778 | $ | 397,259 | $ | (796,282 | ) | $ | 757,201 | ||||||||||
Changes in operating assets and liabilities and non cash | (443,071 | ) | 652,374 | 10,555 | 796,282 | 1,016,140 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 190,375 | 1,175,152 | 407,814 | — | 1,773,341 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (55,252 | ) | (337,042 | ) | (225,303 | ) | — | (617,597 | ) | ||||||||||||
Acquisitions | — | (156,830 | ) | (153,564 | ) | — | (310,394 | ) | |||||||||||||
Proceeds from asset sales | 60,650 | 1,608 | — | — | 62,258 | ||||||||||||||||
Purchase of investments and other items | (4,944 | ) | (3,502 | ) | (2,703 | ) | — | (11,149 | ) | ||||||||||||
Net cash provided by (used in) by investing activities | 454 | (495,766 | ) | (381,570 | ) | — | (876,882 | ) | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | (421,739 | ) | (11,061 | ) | (5,207 | ) | — | (438,007 | ) | ||||||||||||
Intercompany borrowing | 585,441 | (664,154 | ) | 78,713 | — | — | |||||||||||||||
Other items | 52,620 | 4,726 | (102,330 | ) | — | (44,984 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | 216,322 | (670,489 | ) | (28,824 | ) | — | (482,991 | ) | |||||||||||||
Effect of exchange rate changes on cash | — | — | (967 | ) | — | (967 | ) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | 407,151 | 8,897 | (3,547 | ) | — | 412,501 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 195,037 | 166,107 | 172,604 | — | 533,748 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 602,188 | $ | 175,004 | $ | 169,057 | $ | — | $ | 946,249 | |||||||||||
Consolidating Statements of Cash Flows | |||||||||||||||||||||
DaVita | Guarantor | Non-Guarantor | Consolidating | Consolidated | |||||||||||||||||
HealthCare | Subsidiaries | Subsidiaries | Adjustments | Total | |||||||||||||||||
Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income. | $ | 536,017 | $ | 487,077 | $ | 323,195 | $ | (705,052 | ) | $ | 641,237 | ||||||||||
Changes in operating assets and liabilities and non cash | (383,619 | ) | 15,693 | 122,485 | 705,052 | 459,611 | |||||||||||||||
items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 152,398 | 502,770 | 445,680 | — | 1,100,848 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment, net | (72,125 | ) | (305,885 | ) | (172,136 | ) | — | (550,146 | ) | ||||||||||||
Acquisitions | (3,645,760 | ) | (564,499 | ) | (83,818 | ) | — | (4,294,077 | ) | ||||||||||||
Proceeds from asset sales | — | 3,559 | — | — | 3,559 | ||||||||||||||||
Proceeds from investment sales and other items | 2,841 | (1,761 | ) | 7,134 | — | 8,214 | |||||||||||||||
Net cash used in by investing activities | (3,715,044 | ) | (868,586 | ) | (248,820 | ) | — | (4,832,450 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | 3,909,760 | (23,805 | ) | 18,938 | — | 3,904,893 | |||||||||||||||
Intercompany borrowing | (586,050 | ) | 580,825 | 5,225 | — | — | |||||||||||||||
Other items | 68,697 | (25,097 | ) | (76,109 | ) | — | (32,509 | ) | |||||||||||||
Net cash provided by (used in) financing activities | 3,392,407 | 531,923 | (51,946 | ) | — | 3,872,384 | |||||||||||||||
Effect of exchange rate changes on cash | — | — | (786 | ) | — | (786 | ) | ||||||||||||||
Net (decrease) increase in cash and cash equivalents | (170,239 | ) | 166,107 | 144,128 | — | 139,996 | |||||||||||||||
Cash and cash equivalents at beginning of the year | 365,276 | — | 28,476 | — | 393,752 | ||||||||||||||||
Cash and cash equivalents at the end of the year | $ | 195,037 | $ | 166,107 | $ | 172,604 | $ | — | $ | 533,748 | |||||||||||
Additional Reporting Entities | |||||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||||
Consolidating Statements of Income | Condensed Consolidating Statements of Income | ||||||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Patient services revenues | $ | 8,868,338 | $ | 121,929 | $ | — | $ | 8,746,409 | |||||||||||||
Less: Provision for uncollectible accounts | (366,884 | ) | (8,534 | ) | — | (358,350 | ) | ||||||||||||||
Net patient service revenues | 8,501,454 | 113,395 | — | 8,388,059 | |||||||||||||||||
Capitated revenues | 3,261,288 | 1,511,000 | — | 1,750,288 | |||||||||||||||||
Other revenues | 1,032,364 | 6,630 | — | 1,025,734 | |||||||||||||||||
Total net revenues | 12,795,106 | 1,631,025 | — | 11,164,081 | |||||||||||||||||
Operating expenses and charges | 10,979,965 | 1,601,027 | 514 | 9,378,424 | |||||||||||||||||
Operating income | 1,815,141 | 29,998 | (514 | ) | 1,785,657 | ||||||||||||||||
Debt (expense) and refinancing charges | (507,842 | ) | (11,113 | ) | — | (496,729 | ) | ||||||||||||||
Other income, net | 2,374 | 238 | — | 2,136 | |||||||||||||||||
Income tax expense | 446,343 | 1,866 | (206 | ) | 444,683 | ||||||||||||||||
Net income | 863,330 | 17,257 | (308 | ) | 846,381 | ||||||||||||||||
Less: Net income attributable to noncontrolling interests | (140,216 | ) | — | — | (140,216 | ) | |||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 723,114 | $ | 17,257 | $ | (308 | ) | $ | 706,165 | ||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Patient services revenues | $ | 8,307,195 | $ | 122,873 | $ | — | $ | 8,184,322 | |||||||||||||
Less: Provision for uncollectible accounts | (293,546 | ) | (6,602 | ) | — | (286,944 | ) | ||||||||||||||
Net patient service revenues | 8,013,649 | 116,271 | — | 7,897,378 | |||||||||||||||||
Capitated revenues | 2,987,315 | 1,560,244 | — | 1,427,071 | |||||||||||||||||
Other revenues | 763,086 | 5,239 | — | 757,847 | |||||||||||||||||
Total net revenues | 11,764,050 | 1,681,754 | — | 10,082,296 | |||||||||||||||||
Operating expenses and charges | 10,213,916 | 1,659,151 | 457 | 8,554,308 | |||||||||||||||||
Operating income | 1,550,134 | 22,603 | (457 | ) | 1,527,988 | ||||||||||||||||
Debt (expense) | (429,943 | ) | (14,605 | ) | — | (415,338 | ) | ||||||||||||||
Other income, net | 4,787 | 6 | — | 4,781 | |||||||||||||||||
Income tax expense | 381,013 | 3,523 | (183 | ) | 377,673 | ||||||||||||||||
Income from continuing operations | 743,965 | 4,481 | (274 | ) | 739,758 | ||||||||||||||||
Discontinued operations net of gain on disposal of discontinued | 13,236 | — | — | 13,236 | |||||||||||||||||
operations | |||||||||||||||||||||
Net income | 757,201 | 4,481 | (274 | ) | 752,994 | ||||||||||||||||
Less: Net income attributable to noncontrolling interests | (123,755 | ) | — | — | (123,755 | ) | |||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 633,446 | $ | 4,481 | $ | (274 | ) | $ | 629,239 | ||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Patient services revenues | $ | 7,351,902 | $ | 20,052 | $ | — | $ | 7,331,850 | |||||||||||||
Less: Provision for uncollectible accounts | (235,218 | ) | (686 | ) | — | (234,532 | ) | ||||||||||||||
Net patient service revenues | 7,116,684 | 19,366 | — | 7,097,318 | |||||||||||||||||
Capitated revenues | 481,336 | 248,592 | — | 232,744 | |||||||||||||||||
Other revenues | 588,260 | 487 | — | 587,773 | |||||||||||||||||
Total net revenues | 8,186,280 | 268,445 | — | 7,917,835 | |||||||||||||||||
Operating expenses and charges | 6,889,196 | 268,205 | (1,372 | ) | 6,622,363 | ||||||||||||||||
Operating income | 1,297,084 | 240 | 1,372 | 1,295,472 | |||||||||||||||||
Debt (expense) and refinancing charges | (299,517 | ) | (1,386 | ) | — | (298,131 | ) | ||||||||||||||
Other income, net | 3,737 | 54 | — | 3,683 | |||||||||||||||||
Income tax expense | 359,845 | — | 549 | 359,296 | |||||||||||||||||
Income from continuing operations | 641,459 | (1,092 | ) | 823 | 641,728 | ||||||||||||||||
Discontinued operations | (222 | ) | — | — | (222 | ) | |||||||||||||||
Net income | 641,237 | (1,092 | ) | 823 | 641,506 | ||||||||||||||||
Less: Net income attributable to noncontrolling interests | (105,220 | ) | — | — | (105,220 | ) | |||||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $ | 536,017 | $ | (1,092 | ) | $ | 823 | $ | 536,286 | ||||||||||||
Consolidating Statements of Comprehensive Income | Condensed Consolidating Statements of Comprehensive Income | ||||||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Net income (losses) | $ | 863,330 | $ | 17,257 | $ | (308 | ) | $ | 846,381 | ||||||||||||
Other comprehensive losses | (22,372 | ) | — | — | (22,372 | ) | |||||||||||||||
Total comprehensive income (losses) | 840,958 | 17,257 | (308 | ) | 824,009 | ||||||||||||||||
Less: Comprehensive income attributable to noncontrolling | (140,216 | ) | — | — | (140,216 | ) | |||||||||||||||
interest | |||||||||||||||||||||
Comprehensive income (losses) attributable to DaVita | $ | 700,742 | $ | 17,257 | $ | (308 | ) | $ | 683,793 | ||||||||||||
HealthCare Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Net income (losses) | $ | 757,201 | $ | 4,481 | $ | (274 | ) | $ | 752,994 | ||||||||||||
Other comprehensive income | 12,652 | — | — | 12,652 | |||||||||||||||||
Total comprehensive income (losses) | 769,853 | 4,481 | (274 | ) | 765,646 | ||||||||||||||||
Less: Comprehensive income attributable to noncontrolling | (123,755 | ) | — | — | (123,755 | ) | |||||||||||||||
interest | |||||||||||||||||||||
Comprehensive income (losses) attributable to DaVita | $ | 646,098 | $ | 4,481 | $ | (274 | ) | $ | 641,891 | ||||||||||||
HealthCare Partners Inc. | |||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Net income (losses) | $ | 641,237 | $ | (1,092 | ) | $ | 823 | $ | 641,506 | ||||||||||||
Other comprehensive income | 4,187 | — | — | 4,187 | |||||||||||||||||
Total comprehensive income (losses) | 645,424 | (1,092 | ) | 823 | 645,693 | ||||||||||||||||
Less: Comprehensive income attributable to noncontrolling | (105,220 | ) | — | — | (105,220 | ) | |||||||||||||||
interest | |||||||||||||||||||||
Comprehensive income (losses) attributable to DaVita | $ | 540,204 | $ | (1,092 | ) | $ | 823 | $ | 540,473 | ||||||||||||
HealthCare Partners Inc. | |||||||||||||||||||||
Consolidating Balance Sheets | Condensed Consolidating Balance Sheets | ||||||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Cash and cash equivalents | $ | 965,241 | $ | 112,448 | $ | — | $ | 852,793 | |||||||||||||
Accounts receivable, net | 1,525,849 | 255,953 | — | 1,269,896 | |||||||||||||||||
Other current assets | 1,385,707 | 18,450 | — | 1,367,257 | |||||||||||||||||
Total current assets | 3,876,797 | 386,851 | — | 3,489,946 | |||||||||||||||||
Property and equipment, net | 2,469,099 | 2,406 | — | 2,466,693 | |||||||||||||||||
Amortizable intangibles, net | 1,949,498 | 6,239 | — | 1,943,259 | |||||||||||||||||
Other long-term assets | 232,026 | 66,087 | 2,811 | 163,128 | |||||||||||||||||
Goodwill | 9,415,295 | 9,181 | — | 9,406,114 | |||||||||||||||||
Total assets | $ | 17,942,715 | $ | 470,764 | $ | 2,811 | $ | 17,469,140 | |||||||||||||
Current liabilities | $ | 2,088,652 | $ | 213,609 | $ | — | $ | 1,875,043 | |||||||||||||
Payables to parent | — | 178,371 | 2,811 | (181,182 | ) | ||||||||||||||||
Long-term debt and other long-term liabilities | 9,663,787 | 61,895 | — | 9,601,892 | |||||||||||||||||
Noncontrolling interests subject to put provisions | 829,965 | — | — | 829,965 | |||||||||||||||||
Total DaVita HealthCare Partners Inc. shareholders'’ equity | 5,170,513 | 16,889 | — | 5,153,624 | |||||||||||||||||
Noncontrolling interests not subject to put provisions | 189,798 | — | — | 189,798 | |||||||||||||||||
Shareholders' equity | 5,360,311 | 16,889 | — | 5,343,422 | |||||||||||||||||
Total liabilities and shareholder's equity | $ | 17,942,715 | $ | 470,764 | $ | 2,811 | $ | 17,469,140 | |||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
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 | |||||||||||||
Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income | $ | 863,330 | $ | 17,257 | $ | (308 | ) | $ | 846,381 | ||||||||||||
Changes in operating and intercompany assets and liabilities and | 596,077 | 1,048 | 308 | 594,721 | |||||||||||||||||
non cash items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 1,459,407 | 18,305 | — | 1,441,102 | |||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment | (641,330 | ) | 2,058 | — | (643,388 | ) | |||||||||||||||
Acquisitions and divestitures, net | (272,094 | ) | — | — | (272,094 | ) | |||||||||||||||
Proceeds from asset sales | 8,791 | — | — | 8,791 | |||||||||||||||||
Investments and other items | (373,096 | ) | (16,745 | ) | — | (356,351 | ) | ||||||||||||||
Net cash used in investing activities | (1,277,729 | ) | (14,687 | ) | — | (1,263,042 | ) | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt and related financing costs, net | (7,989 | ) | — | — | (7,989 | ) | |||||||||||||||
Intercompany | — | (18,479 | ) | — | 18,479 | ||||||||||||||||
Other items | (156,990 | ) | — | — | (156,990 | ) | |||||||||||||||
Net cash used in financing activities | (164,979 | ) | (18,479 | ) | — | (146,500 | ) | ||||||||||||||
Effect of exchange rate changes on cash | 2,293 | — | — | 2,293 | |||||||||||||||||
Net increase (decrease) in cash | 18,992 | (14,861 | ) | — | 33,853 | ||||||||||||||||
Cash at beginning of the year | 946,249 | 127,309 | — | 818,940 | |||||||||||||||||
Cash at the end of the year | $ | 965,241 | $ | 112,448 | $ | — | $ | 852,793 | |||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income | $ | 757,201 | $ | 4,481 | $ | (274 | ) | $ | 752,994 | ||||||||||||
Changes in operating and intercompany assets and liabilities and | 1,016,140 | 4,343 | 274 | 1,011,523 | |||||||||||||||||
non cash items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 1,773,341 | 8,824 | — | 1,764,517 | |||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment | (617,597 | ) | (2,262 | ) | — | (615,335 | ) | ||||||||||||||
Acquisitions and divestitures, net | (310,394 | ) | — | — | (310,394 | ) | |||||||||||||||
Proceeds from discontinued operations | 62,258 | — | — | 62,258 | |||||||||||||||||
Investments and other items | (11,149 | ) | — | — | (11,149 | ) | |||||||||||||||
Net cash used in investing activities | (876,882 | ) | (2,262 | ) | — | (874,620 | ) | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt | (438,007 | ) | — | — | (438,007 | ) | |||||||||||||||
Intercompany | — | (11,615 | ) | — | 11,615 | ||||||||||||||||
Other items | (44,984 | ) | — | — | (44,984 | ) | |||||||||||||||
Net cash used in financing activities | (482,991 | ) | (11,615 | ) | — | (471,376 | ) | ||||||||||||||
Effect of exchange rate changes on cash | (967 | ) | — | — | (967 | ) | |||||||||||||||
Net increase (decrease) in cash | 412,501 | (5,053 | ) | — | 417,554 | ||||||||||||||||
Cash at beginning of the year | 533,748 | 132,362 | — | 401,386 | |||||||||||||||||
Cash at the end of the year | $ | 946,249 | $ | 127,309 | $ | — | $ | 818,940 | |||||||||||||
Consolidated Total | Physician Groups | Unrestricted Subsidiaries | Company and Restricted Subsidiaries(1) | ||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net income | $ | 641,237 | $ | (1,092 | ) | $ | 823 | $ | 641,506 | ||||||||||||
Changes in operating and intercompany assets and liabilities and | 459,611 | (26,549 | ) | (823 | ) | 486,983 | |||||||||||||||
non cash items included in net income | |||||||||||||||||||||
Net cash provided by operating activities | 1,100,848 | (27,641 | ) | — | 1,128,489 | ||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions of property and equipment | (550,146 | ) | (4,794 | ) | — | (545,352 | ) | ||||||||||||||
Acquisitions and divestitures, net | (4,294,077 | ) | — | — | (4,294,077 | ) | |||||||||||||||
Proceeds from discontinued operations | 3,559 | — | — | 3,559 | |||||||||||||||||
Investments and other items | 8,214 | — | — | 8,214 | |||||||||||||||||
Net cash used in investing activities | (4,832,450 | ) | (4,794 | ) | — | (4,827,656 | ) | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Long-term debt | 3,904,893 | — | — | 3,904,893 | |||||||||||||||||
Intercompany | — | 164,797 | — | (164,797 | ) | ||||||||||||||||
Other items | (32,509 | ) | — | — | (32,509 | ) | |||||||||||||||
Net cash provided by financing activities | 3,872,384 | 164,797 | — | 3,707,587 | |||||||||||||||||
Effect of exchange rate changes on cash | (786 | ) | — | — | (786 | ) | |||||||||||||||
Net increase in cash | 139,996 | 132,362 | — | 7,634 | |||||||||||||||||
Cash at beginning of the year | 393,752 | — | — | 393,752 | |||||||||||||||||
Cash at the end of the year | $ | 533,748 | $ | 132,362 | $ | — | $ | 401,386 | |||||||||||||
Recovered_Sheet1
Organization and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Segment | ||
Entity | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Number of Operating Segments | 2 | |
Ownership in joint venture | 50.00% | |
Other current assets | $186,842 | $176,414 |
Number of legal entities that third parties held noncontrolling ownership | 380 | |
Interest rate cap agreements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Interest rate agreements, notional amount | 3,500,000 | |
Debt instrument, description of variable rate basis | LIBOR | |
Derivative, effective date | 30-Sep-16 | |
Term Loan B | Interest rate cap agreements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Interest rate agreements, notional amount | 2,735,000 | |
Alliance and Product Supply Agreement liability | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 10 years | |
Funds on Deposit with Third Party | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Other current assets | $81,276 | |
California Medical Group Insurance | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Equity interest owned | 67.00% | |
Maximum | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Percentage of management fees included in net operating revenues | 1.00% | |
Maximum | Term Loan B | Interest rate cap agreements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Debt instrument, variable interest rate | 3.50% | |
Maximum | Customer relationships | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 20 years | |
Maximum | Trade names | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 15 years | |
Maximum | Provider network and practice management tools | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 15 years | |
Maximum | Noncompetition and other agreements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 10 years | |
Maximum | Buildings | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Useful lives of the assets | 40 years | |
Maximum | Equipment and Information Systems | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Useful lives of the assets | 8 years | |
Minimum | Customer relationships | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 10 years | |
Minimum | Trade names | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 2 years | |
Minimum | Provider network and practice management tools | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 2 years | |
Minimum | Noncompetition and other agreements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Amortization period | 2 years | |
Minimum | Buildings | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Useful lives of the assets | 20 years | |
Minimum | Equipment and Information Systems | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Useful lives of the assets | 3 years | |
Dialysis And Related Lab Services | Maximum | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Percentage of risk on revenue | 1.00% | |
UNITED STATES | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Number of dialysis centers that the company operated or provided administrative services | 2,179 | |
Number of states that dialysis centers located | 46 | |
Number of patients served | 173,000 | |
Outside United States | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||
Number of dialysis centers that the company operated or provided administrative services | 91 |
Reconciliations_of_Numerators_
Reconciliations of Numerators and Denominators Used to Calculate Basic and Diluted Net Income Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Basic: | ||||||||||||||
Income from continuing operations attributable to DaVita HealthCare Partners Inc. | $723,114 | $620,197 | $536,236 | |||||||||||
Discontinued operations attributable to DaVita HealthCare Partners Inc. | 13,249 | -219 | ||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. for basic earnings per share calculation | 723,114 | 633,446 | 536,017 | |||||||||||
Weighted average shares outstanding during the period | 214,496,000 | 212,128,000 | 192,396,000 | |||||||||||
Vested stock units | 5,000 | 6,000 | ||||||||||||
Contingently returnable shares held in escrow for the DaVita HealthCare Partners merger | -2,194,000 | -2,194,000 | -366,000 | |||||||||||
Weighted average shares for basic earnings per share calculation | 212,301,827 | 209,939,364 | 192,035,878 | |||||||||||
Basic income from continuing operations per share attributable to DaVita HealthCare Partners Inc. | $0.98 | $0.87 | $0.70 | $0.87 | $1.01 | $0.65 | $1.21 | $0.08 | $3.41 | $2.95 | $2.79 | |||
Basic income from discontinued operations per share attributable to DaVita HealthCare Partners Inc. | $0.07 | |||||||||||||
Basic net income per share attributable to DaVita HealthCare Partners Inc. | $0.98 | $0.87 | $0.70 | $0.87 | $1.01 | $0.65 | $1.21 | $0.14 | $3.41 | $3.02 | $2.79 | |||
Diluted: | ||||||||||||||
Income from continuing operations attributable to DaVita HealthCare Partners Inc. | 723,114 | 620,197 | 536,236 | |||||||||||
Discontinued operations attributable to DaVita HealthCare Partners Inc. | 13,249 | -219 | ||||||||||||
Net income attributable to DaVita HealthCare Partners Inc. for diluted earnings per share calculation | $723,114 | $633,446 | $536,017 | |||||||||||
Weighted average shares outstanding during the period | 214,496,000 | 212,128,000 | 192,396,000 | |||||||||||
Vested stock units | 5,000 | 6,000 | ||||||||||||
Assumed incremental shares from stock plans | 2,432,000 | 2,631,000 | 3,540,000 | |||||||||||
Weighted average shares for diluted earnings per share calculation | 216,927,681 | 214,763,887 | 195,942,160 | |||||||||||
Diluted income from continuing operations per share attributable to DaVita HealthCare Partners Inc. | $0.96 | $0.85 | $0.68 | $0.85 | $0.99 | $0.64 | $1.18 | $0.08 | $3.33 | $2.89 | $2.74 | |||
Diluted income from discontinued operations per share attributable to DaVita HealthCare Partners Inc. | $0.06 | |||||||||||||
Diluted net income per share attributable to DaVita HealthCare Partners Inc. | $0.96 | $0.85 | $0.68 | $0.85 | $0.99 | $0.64 | $1.18 | $0.14 | $3.33 | $2.95 | $2.74 | |||
Anti-dilutive stock-settled awards excluded from calculation | 1,715,000 | [1] | 4,194,000 | [1] | 2,616,000 | [1] | ||||||||
[1] | Shares associated with stock-settled stock appreciation rights and stock options excluded from the diluted denominator calculation because they are anti-dilutive under the treasury stock method. |
Accounts_Receivable_Additional
Accounts Receivable - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Accounts Notes And Loans Receivable [Line Items] | ||
Accounts receivable, percentage of balances more than six months old | 12.00% | 14.00% |
Percentage of outstanding patient accounts receivables to be reserved as per Company's policy | 100.00% | |
Account receivable outstanding, number of months | 4 months | |
Increased (decreased) in allowance for doubtful accounts | $5,531 | ($7,979) |
Government-based Programs, Medicare and Medicaid | Accounts Receivable | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Percentage of accounts receivable due | 80.00% | |
Health Care Patient | Accounts Receivable | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Percentage of accounts receivable due | 1.00% |
Other_Receivables_Detail
Other Receivables (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Receivables, Net, Current [Abstract] | ||
Other receivables | $400,916 | $349,090 |
Supplier rebates and other non-trade receivables | ||
Other Receivables, Net, Current [Abstract] | ||
Other receivables | 265,693 | 217,100 |
Medicare bad debt claims | ||
Other Receivables, Net, Current [Abstract] | ||
Other receivables | 118,504 | 110,825 |
Operating advances under management and administrative services agreements | ||
Other Receivables, Net, Current [Abstract] | ||
Other receivables | $16,719 | $21,165 |
Other_Current_Assets_Detail
Other Current Assets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Prepaid Expense And Other Assets Current [Abstract] | ||
Prepaid expenses | $102,466 | $93,877 |
Funds on deposit with third parties | 81,276 | 79,317 |
Other | 3,100 | 3,220 |
Other current assets | $186,842 | $176,414 |
Property_and_Equipment_Detail
Property and Equipment (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment [Abstract] | ||
Land | $35,885 | $34,960 |
Buildings | 157,550 | 157,998 |
Leasehold improvements | 2,002,735 | 1,762,470 |
Equipment and information systems | 2,066,775 | 1,839,981 |
New center and capital asset projects in progress | 235,660 | 172,261 |
Property, Plant and Equipment, Gross, Total | 4,498,605 | 3,967,670 |
Less accumulated depreciation | -2,029,506 | -1,778,259 |
Property and equipment, net | $2,469,099 | $2,189,411 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property Plant And Equipment [Abstract] | |||
Depreciation and amortization expense on property and equipment | $428,309 | $373,107 | $299,810 |
Interest capitalized | $7,888 | $6,408 | $8,126 |
Amortizable_Intangible_Assets_
Amortizable Intangible Assets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite Lived Intangible Assets [Line Items] | ||
Customer relationships | $1,575,865 | $1,503,426 |
Trade names | 171,168 | 170,994 |
Provider network and practice management tools | 183,688 | 184,558 |
Noncompetition and other agreements | 506,867 | 495,475 |
Deferred debt financing costs | 101,001 | 121,872 |
Indefinite-lived assets | 24,818 | 22,932 |
Intangible Assets, Gross (Excluding Goodwill), Total | 2,571,389 | 2,508,146 |
Less accumulated amortization | -621,891 | -483,773 |
Total intangible assets | 1,949,498 | 2,024,373 |
Lease Agreements | ||
Finite Lived Intangible Assets [Line Items] | ||
Lease agreements | $7,982 | $8,889 |
Intangibles_Additional_Informa
Intangibles - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Amortization expense from amortizable intangible assets | $167,956 | $160,960 | $47,489 |
Amortization of lease agreement intangible assets and liabilities | -1,798 | -1,447 | 103 |
Amortization benefit recognized from the alliance and product supply agreement | $5,330 | $5,330 | $5,330 |
Amortizable_Intangible_Liabili
Amortizable Intangible Liabilities (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Alliance and product supply agreement commitment (See Note 18) | $68,200 | $68,200 |
Less accumulated amortization | -64,203 | -58,873 |
Net Alliance and product supply agreement | 3,997 | 9,327 |
Lease agreements (net of accumulated amortization of $4,785 and $2,628) | 10,407 | 12,563 |
Finite Lived Intangible Liabilities Net, Total | $14,404 | $21,890 |
Amortizable_Intangible_Liabili1
Amortizable Intangible Liabilities (Parenthetical) (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Lease agreements, accumulated amortization | $4,785 | $2,628 |
Scheduled_Amortization_Charges
Scheduled Amortization Charges from Intangible Assets and Liabilities (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Customer relationships | |
Expected Amortization Expense [Line Items] | |
2015 | $82,619 |
2016 | 82,704 |
2017 | 82,686 |
2018 | 82,640 |
2019 | 82,407 |
Thereafter | 991,862 |
Trade names | |
Expected Amortization Expense [Line Items] | |
2015 | 16,429 |
2016 | 16,429 |
2017 | 16,418 |
2018 | 16,364 |
2019 | 16,364 |
Thereafter | 53,961 |
Provider network and practice management tools | |
Expected Amortization Expense [Line Items] | |
2015 | 26,229 |
2016 | 26,179 |
2017 | 26,243 |
2018 | 26,266 |
2019 | 22,542 |
Thereafter | 526 |
Noncompetition and other agreements | |
Expected Amortization Expense [Line Items] | |
2015 | 40,482 |
2016 | 30,172 |
2017 | 28,563 |
2018 | 18,429 |
2019 | 13,984 |
Thereafter | 39,242 |
Deferred debt financing costs | |
Expected Amortization Expense [Line Items] | |
2015 | 13,279 |
2016 | 13,129 |
2017 | 12,976 |
2018 | 12,683 |
2019 | 10,636 |
Thereafter | 22,237 |
Lease agreements, net | |
Expected Amortization Expense [Line Items] | |
2015 | -2,107 |
2016 | -1,506 |
2017 | -1,185 |
2018 | -849 |
2019 | -789 |
Thereafter | -3,971 |
Alliance and Product Supply Agreement liability | |
Expected Amortization Expense [Line Items] | |
2015 | ($3,997) |
Recovered_Sheet2
Equity Investments and Other Investments - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investment [Line Items] | |||
Equity investments in non-consolidated businesses | $65,637 | $40,686 | |
Equity investment income | 23,234 | 34,558 | 16,377 |
Cost-method Investments | |||
Investment [Line Items] | |||
Payment for purchase of preferred stock in a privately held company | 5,000 | ||
HealthCare Partners (HCP) | |||
Investment [Line Items] | |||
Equity investment income | $9,480 | $22,758 |
Investments_Detail
Investments (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Certificates of deposit and money market funds due within one year | $335,975 | $5,601 |
Investments in mutual funds and common stock | 28,123 | 19,421 |
Total investment | 364,098 | 25,022 |
Short-term investments | 337,399 | 6,801 |
Long-term investments | 26,699 | 18,221 |
Held to maturity | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Certificates of deposit and money market funds due within one year | 335,975 | 5,601 |
Total investment | 335,975 | 5,601 |
Short-term investments | 335,975 | 5,601 |
Available for sale | ||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
Investments in mutual funds and common stock | 28,123 | 19,421 |
Total investment | 28,123 | 19,421 |
Short-term investments | 1,424 | 1,200 |
Long-term investments | $26,699 | $18,221 |
Recovered_Sheet3
Investments in Debt and Equity Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments Debt And Equity Securities [Abstract] | |||
Available for sale investments gross pre-tax unrealized gain (loss) | $5,181 | $5,096 | |
Unrealized gain (loss) on investments, pre tax | 425 | 3,752 | |
Proceeds from sale of investments available-for-sale | 1,262 | 4,158 | |
Pre tax reclassification of net investment realized gain (loss) into net income | 340 | 802 | |
Reclassification of net investment realized gain (loss) into net income, net of tax | $207 | $490 | $75 |
Changes_in_Goodwill_by_Reporta
Changes in Goodwill by Reportable Segments (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill [Line Items] | ||
Beginning balance | $9,212,974 | $8,952,750 |
Acquisitions | 221,514 | 271,267 |
Divestitures | -1,851 | -2,728 |
Other adjustments | -8,315 | |
Foreign currency and other adjustments | -17,342 | |
Ending balance | 9,415,295 | 9,212,974 |
U.S. dialysis and related lab services | ||
Goodwill [Line Items] | ||
Beginning balance | 5,469,473 | 5,309,152 |
Acquisitions | 143,021 | 163,037 |
Divestitures | -1,851 | -2,728 |
Other adjustments | 12 | |
Foreign currency and other adjustments | ||
Ending balance | 5,610,643 | 5,469,473 |
HealthCare Partners (HCP) | ||
Goodwill [Line Items] | ||
Beginning balance | 3,516,162 | 3,506,571 |
Acquisitions | 48,649 | 17,833 |
Divestitures | ||
Other adjustments | -8,242 | |
Foreign currency and other adjustments | -2,277 | |
Ending balance | 3,562,534 | 3,516,162 |
Other-Ancillary services and strategic initiatives | ||
Goodwill [Line Items] | ||
Beginning balance | 227,339 | 137,027 |
Acquisitions | 29,844 | 90,397 |
Divestitures | ||
Other adjustments | -85 | |
Foreign currency and other adjustments | -15,065 | |
Ending balance | $242,118 | $227,339 |
Goodwill_Additional_Informatio
Goodwill - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | |||
Goodwill | $9,415,295 | $9,212,974 | $8,952,750 |
Goodwill impairment charge description | For example, a sustained, long-term reduction of 3% in operating income for HCP California, HCP Nevada and HCP New Mexico could reduce their estimated fair values by up to 2.5%, 2.8% and 3.0%, respectively. Separately, an increase in their respective discount rates of 100 basis points could reduce the estimated fair values of HCP California, HCP Nevada and HCP New Mexico by up to 5.3%, 5.9% and 6.3%, respectively. | ||
Pre-tax goodwill impairment charge | 0 | 0 | |
HealthCare Partners (HCP) | |||
Goodwill [Line Items] | |||
Number of reporting units | 3 | ||
Goodwill | 3,562,534 | 3,516,162 | 3,506,571 |
HealthCare Partners (HCP) | Long-term Reduction of 3% Percent Operating Income | |||
Goodwill [Line Items] | |||
Decrease in operating income percentage used for assessment of fair values | 3.00% | ||
HealthCare Partners (HCP) | Increase In Discount Rates By 100 Basis Points | |||
Goodwill [Line Items] | |||
Increase in discount rates used for assessment of fair values | 1.00% | ||
HealthCare Partners (HCP) | California | |||
Goodwill [Line Items] | |||
Goodwill | 2,511,477 | ||
Percentage of Fair value in excess of carrying amount | 5.60% | ||
HealthCare Partners (HCP) | California | Long-term Reduction of 3% Percent Operating Income | |||
Goodwill [Line Items] | |||
Percentage of Fair value in excess of carrying amount | -2.50% | ||
HealthCare Partners (HCP) | California | Increase In Discount Rates By 100 Basis Points | |||
Goodwill [Line Items] | |||
Percentage of Fair value in excess of carrying amount | -5.30% | ||
HealthCare Partners (HCP) | Nevada | |||
Goodwill [Line Items] | |||
Goodwill | 517,618 | ||
Percentage of Fair value in excess of carrying amount | 12.40% | ||
HealthCare Partners (HCP) | Nevada | Long-term Reduction of 3% Percent Operating Income | |||
Goodwill [Line Items] | |||
Percentage of Fair value in excess of carrying amount | -2.80% | ||
HealthCare Partners (HCP) | Nevada | Increase In Discount Rates By 100 Basis Points | |||
Goodwill [Line Items] | |||
Percentage of Fair value in excess of carrying amount | -5.90% | ||
HealthCare Partners (HCP) | New Mexico | |||
Goodwill [Line Items] | |||
Goodwill | $72,130 | ||
Percentage of Fair value in excess of carrying amount | 9.70% | ||
HealthCare Partners (HCP) | New Mexico | Long-term Reduction of 3% Percent Operating Income | |||
Goodwill [Line Items] | |||
Percentage of Fair value in excess of carrying amount | -3.00% | ||
HealthCare Partners (HCP) | New Mexico | Increase In Discount Rates By 100 Basis Points | |||
Goodwill [Line Items] | |||
Percentage of Fair value in excess of carrying amount | -6.30% |
Other_Liabilities_Detail
Other Liabilities (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ||
Payor refunds and retractions | $125,435 | $169,480 |
Contingent earn-out consideration | 15,614 | 6,577 |
Insurance and self-insurance accruals | 92,928 | 84,882 |
Accrued interest | 87,224 | 45,662 |
Other medical payables | 39,867 | 31,219 |
Accrued non-income tax liabilities | 25,909 | 18,366 |
Interest rate swap agreements | 1,457 | 12,069 |
Other | 118,145 | 96,167 |
Other liabilities | $506,579 | $464,422 |
Components_of_Changes_in_Healt
Components of Changes in Health Care Costs Payable (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Less: Claims paid | ||
Health care costs payable, end of the year | $314,347 | $287,452 |
Healthcare Cost | ||
Medical Expense And Medical Claims Payable [Line Items] | ||
Health care costs payable, beginning of the year | 172,310 | 119,512 |
Acquisitions and other adjustments | 26,575 | |
Add: Components of incurred health care costs | ||
Current year | 1,572,723 | 1,329,887 |
Prior years | 3,429 | -16,587 |
Total incurred health care costs | 1,576,152 | 1,313,300 |
Less: Claims paid | ||
Current year | 1,378,137 | 1,169,455 |
Prior years | 155,920 | 117,622 |
Total claims paid | 1,534,057 | 1,287,077 |
Health care costs payable, end of the year | $214,405 | $172,310 |
Health_Care_Costs_Payable_Addi
Health Care Costs Payable - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Health Care Organizations [Abstract] | ||
Increase (decrease) in prior year estimates of health care costs payable | $3,429 | ($16,587) |
Components_of_Income_Tax_Expen
Components of Income Tax Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current: | |||
Federal | $188,302 | $334,258 | $239,232 |
State | 30,789 | 68,715 | 49,178 |
International | 1,687 | 1,764 | 660 |
Total current income tax | 220,778 | 404,737 | 289,070 |
Deferred: | |||
Federal | 192,267 | -6,695 | 64,195 |
State | 32,360 | -8,941 | 6,498 |
International | 938 | 746 | |
Total deferred income tax | 225,565 | -14,890 | 70,693 |
Income Tax Expense (Benefit), Continuing Operations and Discontinued Operations, Total | $446,343 | $389,847 | $359,763 |
Allocation_of_Income_Tax_Expen
Allocation of Income Tax Expense (Benefit) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Continuing operations | $446,343 | $381,013 | $359,845 |
Discontinued operations | -84 | -82 | |
Gain on discontinued operations | 8,918 | ||
Income Tax Expense (Benefit), Continuing Operations and Discontinued Operations, Total | $446,343 | $389,847 | $359,763 |
Reconciliations_between_our_Ef
Reconciliations between our Effective Tax Rate from Continuing Operations and U.S Federal Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Federal income tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | 3.50% | 3.80% | 4.00% |
International rate differential | -0.20% | 0.10% | |
Changes in deferred tax valuation allowances | 0.60% | 0.30% | |
Contingent earn-out adjustments | -2.60% | ||
Other | -0.80% | 1.40% | 1.10% |
Impact of noncontrolling interests primarily attributable to non-tax paying entities | -4.00% | -4.10% | -4.20% |
Effective tax rate | 34.10% | 33.90% | 35.90% |
Deferred_Tax_and_Liabilities_A
Deferred Tax and Liabilities Arising from Temporary Differences (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ||
Receivables | $42,973 | $49,667 |
Accrued liabilities | 253,158 | 252,008 |
Loss contingency reserve | 1,423 | 139,844 |
Net operating loss carryforwards | 100,768 | 96,212 |
Other | 88,435 | 67,882 |
Deferred tax assets | 486,757 | 605,613 |
Valuation allowance | -26,667 | -13,860 |
Net deferred tax assets | 460,090 | 591,753 |
Intangible assets | -835,816 | -752,838 |
Property and equipment | -187,054 | -183,059 |
Investments in partnerships | -78,618 | -51,921 |
Other | -8,677 | -6,913 |
Deferred tax liabilities | -1,110,165 | -994,731 |
Net deferred tax liabilities | ($650,075) | ($402,978) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Line Items] | |||
Increase in valuation allowance related to changes in the estimated tax benefit of federal and state operating losses of separate-return entities | $12,807 | ||
Liability for unrecognized tax benefits | 31,877 | 60,538 | 67,546 |
Decrease in liability for unrecognized tax benefits | 28,661 | ||
Unrecognized tax benefits due to change of accounting method | 27,427 | ||
Accrued interest and penalties related to unrecognized tax benefits, net of federal tax benefits | 10,123 | 10,742 | |
Domestic Tax Authority | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | 203,282 | ||
Net operating loss carryforwards, expiration beginning year | 2028 | ||
Domestic Tax Authority | Maximum | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards, expiration year | 2034 | ||
State | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | 568,286 | ||
State | Maximum | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards, expiration year | 2034 | ||
Foreign Tax Authority | |||
Income Taxes [Line Items] | |||
Net operating loss carryforwards | $55,436 |
Reconciliation_of_Beginning_an
Reconciliation of Beginning and Ending Liability for Unrecognized Tax Benefits that Do Not Meet More-Likely-than-not Threshold (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ||
Balance beginning | $60,538 | $67,546 |
Additions for tax positions related to current year | 914 | 6,005 |
Reductions for tax positions related to prior years | -27,312 | -3,901 |
Reductions related to lapse of applicable statute | -2,077 | -8,480 |
Reductions related to settlements with taxing authorities | -186 | -632 |
Balance ending | $31,877 | $60,538 |
Long_Term_Debt_Detail
Long Term Debt (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Senior notes | $3,775,000 | $2,800,000 |
Acquisition obligations and other notes payable | 69,045 | 67,352 |
Capital lease obligations | 218,097 | 152,751 |
Total debt principal outstanding | 8,519,642 | 8,433,603 |
Discount on long-term debt | -16,208 | -17,675 |
Carrying Amount of Long-Term Debt, Net of Unamortized Discount or Premium, Current and Noncurrent, Total | 8,503,434 | 8,415,928 |
Less current portion | -120,154 | -274,697 |
Long-term debt | 8,383,280 | 8,141,231 |
Term Loan A | ||
Debt Instrument [Line Items] | ||
Senior Secured Credit Facilities | 975,000 | 800,000 |
Term Loan A-3 | ||
Debt Instrument [Line Items] | ||
Senior Secured Credit Facilities | 1,282,500 | |
Term Loan B | ||
Debt Instrument [Line Items] | ||
Senior Secured Credit Facilities | 3,482,500 | 1,697,500 |
Term Loan B-2 | ||
Debt Instrument [Line Items] | ||
Senior Secured Credit Facilities | $1,633,500 |
Scheduled_Maturities_of_Longte
Scheduled Maturities of Long-term Debt (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | |
2015 | $120,154 |
2016 | 117,193 |
2017 | 144,161 |
2018 | 155,750 |
2019 | 730,084 |
Thereafter | $7,252,300 |
Longterm_Debt_Additional_Infor
Long-term Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2014 | Sep. 30, 2014 |
Debt Instrument [Line Items] | ||||||
Senior notes | $3,775,000 | $2,800,000 | ||||
Facility, aggregate principal amount | 5,500,000 | |||||
Maximum additional borrowing capacity | 1,500,000 | |||||
Long term borrowing annual principal payment, 2015 | 117,193 | |||||
Long term borrowing annual principal payment, 2016 | 144,161 | |||||
Long term borrowing annual principal payment, 2017 | 155,750 | |||||
Long term borrowing annual principal payment, 2018 | 730,084 | |||||
Thereafter | 7,252,300 | |||||
Proceeds from borrowings | 60,038,508 | 66,286,097 | 43,248,175 | |||
Payment of total outstanding principal balances under existing Senior Secured Credit Facilities plus accrued interest | 60,046,487 | 66,723,385 | 39,286,027 | |||
Debt refinancing charges | 97,548 | 10,963 | ||||
Amount of gains (losses) recognized in OCI on interest rate swap and cap agreements | 3,000 | |||||
Debt expense | 410,294 | 429,943 | 288,554 | |||
Debt refinancing charges | -97,548 | -10,963 | ||||
Debt expense recognized | 385,750 | 401,140 | 270,107 | |||
Unrealized (losses) gain on interest rate swap and cap agreements | -10,059 | 169 | -6,204 | |||
Overall weighted average effective interest rate on Senior Secured Credit Facilities | 3.43% | |||||
Weighted average effective interest rate | 4.68% | |||||
Overall weighted average effective interest rate | 4.46% | |||||
Amortization of deferred financing costs | 24,544 | 28,803 | 18,447 | |||
HealthCare Partners (HCP) | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding letters of credit | 1,000 | |||||
Letter of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding letters of credit | 95,000 | |||||
Revolving Credit Facility | ||||||
Debt Instrument [Line Items] | ||||||
Facility, aggregate principal amount | 1,000,000 | |||||
Facility, term | 5 years | |||||
Interest rate cap agreements | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate agreements, notional amount | 3,500,000 | |||||
Derivative, expiration date | 30-Jun-18 | |||||
Fair value of assets | 12,340 | |||||
Unrealized (losses) gain on interest rate swap and cap agreements | -2,147 | |||||
Interest Rate Swap | ||||||
Debt Instrument [Line Items] | ||||||
Notional amount terminated | 600,000 | |||||
Debt refinancing charges | 3,100 | |||||
Debt expense | 6,100 | |||||
Debt refinancing charges | -3,100 | |||||
Amortizing Swap | ||||||
Debt Instrument [Line Items] | ||||||
Notional amount terminated | 1,137,500 | |||||
Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured leverage ratio | 3.5 | |||||
Maximum | Interest rate cap agreements | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument Interest rate | 3.50% | |||||
Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Senior secured leverage ratio | 1 | |||||
Covenants factor leverage ratio | 1 | |||||
Term Loan A Term Loan B | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate description | At December 31, 2014, the overall weighted average interest rate for the Term Loan A was determined based upon the LIBOR interest rates in effect for all of the individual tranches plus the interest rate margin. | |||||
Term Loan A Term Loan B | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Term Loan A and Term Loan B maturity date range | 12 months | |||||
Term Loan A Term Loan B | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Term Loan A and Term Loan B maturity date range | 1 month | |||||
Term Loan A | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, annual principal payment | 37,500 | 100,000 | ||||
Term Loan A-3 | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, annual principal payment | 16,875 | 67,500 | ||||
Term Loan B | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, annual principal payment | 4,375 | 17,500 | ||||
Term Loan B | Interest rate cap agreements | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate agreements, notional amount | 2,735,000 | |||||
Term Loan B | Maximum | Interest rate cap agreements | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 3.50% | |||||
LIBOR interest rate for interest cap | 3.50% | |||||
Term Loan B | Maximum | Interest rate cap agreements | Derivative Instrument 1 | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument Interest rate | 2.50% | |||||
Interest rate agreements, notional amount | 2,735,000 | |||||
Remaining outstanding debt | 747,500 | |||||
Derivative, Floor Interest Rate | 0.75% | |||||
Term Loan B-2 | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, annual principal payment | 4,125 | 16,500 | ||||
New Term Loan A | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, annual principal payment | 25,000 | 25,000 | ||||
Facility, aggregate principal amount | 1,000,000 | |||||
Facility, term | 5 years | |||||
Long term borrowing annual principal payment, 2014 | 25,000 | |||||
Long term borrowing annual principal payment, 2015 | 50,000 | |||||
Long term borrowing annual principal payment, 2016 | 62,500 | |||||
Long term borrowing annual principal payment, 2017 | 87,500 | |||||
Long term borrowing annual principal payment, 2018 | 100,000 | |||||
Thereafter | 675,000 | |||||
New Term Loan A | Interest Rate Swap | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 1.75% | |||||
Interest rate agreements, notional amount | 855,000 | |||||
Fixed interest rate, lower limit | 0.49% | |||||
Fixed interest rate, upper limit | 0.52% | |||||
Weighted average effective interest rate | 2.26% | |||||
Derivative, expiration date | 30-Sep-16 | |||||
Debt expense recognized | 3,170 | |||||
Fair value of assets | 1,824 | |||||
Unrealized pre-tax losses in other comprehensive income | 1,457 | |||||
New Term Loan A | Interest Rate Swap | Not Designated as Hedging Instrument | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 1.75% | |||||
Interest rate agreements, notional amount | 120,000 | |||||
New Term Loan B | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate agreements, notional amount | 2,735,000 | |||||
LIBOR interest rate for interest cap | 2.50% | |||||
Debt instrument, annual principal payment | 17,500 | 17,500 | ||||
Facility, aggregate principal amount | 3,500,000 | |||||
Facility, term | 7 years | |||||
Long term borrowing annual principal payment, 2014 | 17,500 | |||||
Long term borrowing annual principal payment, 2015 | 35,000 | |||||
Long term borrowing annual principal payment, 2016 | 35,000 | |||||
Long term borrowing annual principal payment, 2017 | 35,000 | |||||
Long term borrowing annual principal payment, 2018 | 35,000 | |||||
Long term borrowing annual principal payment, 2019 | 35,000 | |||||
Long term borrowing annual principal payment, 2020 | 35,000 | |||||
Long term borrowing annual principal payment, 2021 | 3,272,500 | |||||
Derivative, expiration date | 30-Sep-16 | |||||
Debt expense recognized | 2,439 | |||||
Fair value of assets | 1,594 | |||||
Unrealized (losses) gain on interest rate swap and cap agreements | -5,972 | |||||
New Term Loan B | Interest rate cap agreements | Derivative Instrument 2 | ||||||
Debt Instrument [Line Items] | ||||||
Interest rate agreements, notional amount | 1,250,000 | |||||
Derivative, expiration date | 30-Sep-14 | |||||
Debt expense recognized | 2,691 | |||||
New Term Loan B | Interest Rate Swap | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 2.75% | |||||
New Term Loan B | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Covenants factor leverage ratio | 3.5 | |||||
New Term Loan B | Maximum | Interest rate cap agreements | Derivative Instrument 2 | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument Interest rate | 4.00% | |||||
New Term Loan B | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument Interest rate | 0.75% | |||||
Senior Secured Credit Facilities | ||||||
Debt Instrument [Line Items] | ||||||
Undrawn revolving credit facilities | 1,000,000 | |||||
Payment of total outstanding principal balances under existing Senior Secured Credit Facilities plus accrued interest | 5,362,400 | |||||
Senior Notes 5.125 Percent Due 2024 | ||||||
Debt Instrument [Line Items] | ||||||
Senior notes | 1,750,000 | 1,750,000 | ||||
Senior note, interest rate | 5.13% | 5.13% | ||||
Senior note, due date | 2024 | |||||
Senior notes interest payment period | The 5 1/8% Senior Notes pay interest on January 15 and July 15 of each year beginning January 15, 2015 | |||||
Senior notes interest payment, first required payment date | 15-Jan-15 | |||||
Debt redemption end date | 15-Jul-19 | |||||
Proceeds from borrowings | 1,750,000 | |||||
Senior Notes 5.125 Percent Due 2024 | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Debt redemption end date | 15-Jul-17 | |||||
Senior Notes 6.625 Percent Due 2020 | ||||||
Debt Instrument [Line Items] | ||||||
Senior notes | 775,000 | |||||
Senior note, interest rate | 6.63% | |||||
Senior note, due date | 2020 | |||||
Senior Notes 5.75 Percent Due 2022 | ||||||
Debt Instrument [Line Items] | ||||||
Senior notes | 1,250,000 | |||||
Senior note, interest rate | 5.75% | |||||
Senior note, due date | 2022 | |||||
New Term Loans and Senior Notes 5.125 Percent Due 2024 | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from borrowings | 6,250,000 | |||||
New Term Loans and Senior Notes 5.125 Percent Due 2024 | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Percentage of redemption | 35.00% | |||||
New Term Loans | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from borrowings | 4,500,000 | |||||
Senior Notes 6.375 Percent Due 2018 | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding principal balances | 483,100 | |||||
Aggregate debt principal balances | 775,000 | |||||
Redemption of total amount of debt including principal and interest | 512,400 | |||||
Debt instrument, redemption price ratio | 1,051.25 | |||||
Cash tender premium for redemption | 24,800 | |||||
Fees, discounts and other professional expenses | 81,600 | |||||
Senior Notes 6.375 Percent Due 2018 | Debt Instrument, Redemption, Period One | ||||||
Debt Instrument [Line Items] | ||||||
Aggregate debt principal balances | 188 | |||||
Redemption of total amount of debt including principal and interest | 194 | |||||
Debt instrument, redemption price ratio | 1,021.25 | |||||
Cash tender premium for redemption | 4 | |||||
Senior Notes 6.375 Percent Due 2018 | Derivative Instrument 2 | ||||||
Debt Instrument [Line Items] | ||||||
Aggregate debt principal balances | 291,719 | |||||
Redemption of total amount of debt including principal and interest | 309,954 | |||||
Debt instrument, redemption price ratio | 1,047.81 | |||||
Cash tender premium for redemption | $13,947 | |||||
London Interbank Offered Rate (LIBOR) | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 1.75% | |||||
London Interbank Offered Rate (LIBOR) | Term Loan A | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 1.75% | |||||
London Interbank Offered Rate (LIBOR) | Term Loan B | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 2.75% | |||||
London Interbank Offered Rate (LIBOR) | Term Loan B | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 2.75% | |||||
London Interbank Offered Rate (LIBOR) | New Term Loan A | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 1.75% | |||||
London Interbank Offered Rate (LIBOR) | New Term Loan A | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 2.00% | |||||
London Interbank Offered Rate (LIBOR) | New Term Loan A | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 1.50% | |||||
London Interbank Offered Rate (LIBOR) | New Term Loan B | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, variable interest rate | 2.75% |
Derivative_Instruments_Detail
Derivative Instruments (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Interest rate cap agreements | ||
Derivative [Line Items] | ||
Derivative assets, Fair value | $12,340 | |
Designated as Hedging Instrument | Interest rate swap agreements | Other short-term liabilities | ||
Derivative [Line Items] | ||
Derivative liabilities, Fair value | 1,457 | 12,069 |
Designated as Hedging Instrument | Interest rate swap agreements | Other long-term assets | ||
Derivative [Line Items] | ||
Derivative assets, Fair value | 3,281 | 10,004 |
Designated as Hedging Instrument | Interest rate cap agreements | Other long-term assets | ||
Derivative [Line Items] | ||
Derivative assets, Fair value | $13,934 | $7,567 |
Effects_of_Interest_Rate_Swap_
Effects of Interest Rate Swap Agreements (Detail) (USD $) | 1 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | ||||
Amount of gains (losses) recognized in OCI on interest rate swap and cap agreements | $3,000 | |||
Cash Flow Hedging | ||||
Derivative [Line Items] | ||||
Amount of gains (losses) recognized in OCI on interest rate swap and cap agreements | -10,059 | 169 | -6,204 | |
Amount of losses reclassified from accumulated OCI into income | 10,608 | 12,889 | -10,130 | |
Cash Flow Hedging | Interest rate swap agreements | ||||
Derivative [Line Items] | ||||
Amount of gains (losses) recognized in OCI on interest rate swap and cap agreements | -8,390 | 1,251 | -8,838 | |
Cash Flow Hedging | Interest rate swap agreements | Debt Expense | ||||
Derivative [Line Items] | ||||
Amount of losses reclassified from accumulated OCI into income | 12,279 | 15,678 | -12,989 | |
Cash Flow Hedging | Interest rate cap agreements | ||||
Derivative [Line Items] | ||||
Amount of gains (losses) recognized in OCI on interest rate swap and cap agreements | -8,119 | -974 | -1,316 | |
Cash Flow Hedging | Interest rate cap agreements | Debt Expense | ||||
Derivative [Line Items] | ||||
Amount of losses reclassified from accumulated OCI into income | 5,130 | 5,418 | -3,589 | |
Cash Flow Hedging | Tax (expense) benefit | ||||
Derivative [Line Items] | ||||
Amount of gains (losses) recognized in OCI on interest rate swap and cap agreements | 6,450 | -108 | 3,950 | |
Amount of losses reclassified from accumulated OCI into income | ($6,801) | ($8,207) | $6,448 |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Leases Disclosure [Line Items] | |||
Rent expense under all operating leases | $460,093 | $424,096 | $345,066 |
Net book value of property and equipment under capital leases | $197,344 | $145,615 | |
Minimum | |||
Leases Disclosure [Line Items] | |||
Facilities leased under non-cancellable operating leases term range, minimum | 5 years | ||
Facilities leased under non-cancellable operating leases renewal option range, minimum | 5 years | ||
Maximum | |||
Leases Disclosure [Line Items] | |||
Facilities leased under non-cancellable operating leases term range, minimum | 15 years | ||
Facilities leased under non-cancellable operating leases renewal option range, minimum | 10 years |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments Under Non-cancelable Operating Leases and Capital Leases (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating leases | |
2015 | $395,862 |
2016 | 370,920 |
2017 | 344,232 |
2018 | 302,752 |
2019 | 262,645 |
Thereafter | 901,792 |
Operating Leases, Future Minimum Payments Due, Total | 2,578,203 |
Capital leases | |
2015 | 21,011 |
2016 | 21,277 |
2017 | 21,552 |
2018 | 21,961 |
2019 | 22,615 |
Thereafter | 202,245 |
Capital Leases, Future Minimum Payments Due, Total | 310,661 |
Less portion representing interest | -92,564 |
Total capital lease obligations, including current portion | $218,097 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Nonqualified Deferred Compensation Plan | All Trusts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total fair value of assets held in trust | $27,899 | $19,421 | |
Nonqualified Deferred Compensation Plan | DaVita Voluntary Deferral Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Voluntary compensation deferral plan description | The Company also maintains a voluntary compensation deferral plan, the DaVita Voluntary Deferral Plan. This plan is non-qualified and permits certain employees whose annualized base salary equals or exceeds a minimum annual threshold amount as set by the Company to elect to defer all or a portion of their annual bonus payment and up to 50% of their base salary into a deferral account maintained by the Company | ||
Maximum percentage of employees' base salary to be maintained into deferral account | 50.00% | ||
Non-qualified deferred compensation plan, contributions | 3,772 | 4,089 | 3,935 |
Deferred compensation arrangement, timing of payments | Deferred amounts are generally paid out in cash at the participantbs election either in the first or second year following retirement or in a specified future period at least three to four years after the deferral election was effective | ||
Non-qualified deferred compensation plan, distributions | 1,111 | 4,158 | 1,324 |
Total fair value of assets held in trust | 5,347 | 572 | |
Nonqualified Deferred Compensation Plan | DaVita Voluntary Deferral Plan | Rabbi Trust | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total fair value of assets held in trust | 21,208 | 17,419 | |
Nonqualified Deferred Compensation Plan | Executive Retirement Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total fair value of assets held in trust | 1,344 | 1,430 | |
Executive Retirement Plan, distributions | 152 | 0 | 226 |
Change of Control Protection Program | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Cash bonuses to employees in the event of a change of control | 646,000 | ||
HealthCare Partners (HCP) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Company matching contributions | 7,400 | ||
HealthCare Partners (HCP) | Nonqualified Deferred Compensation Plan | Key Employees | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Non-qualified deferred compensation plan, contributions | 0 | 4,658 | |
Cash surrender value of life insurance policies | 57,700 | 56,300 | |
Deferred compensation liabilities owed to participants | $60,400 | $62,000 | |
HealthCare Partners (HCP) | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Multiple employer matching contributions rate | 0.00% | ||
HealthCare Partners (HCP) | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Multiple employer matching contributions rate | 6.00% |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2015 |
Legal Proceedings [Line Items] | |||||
Loss contingency reserve | $17,000 | $17,000 | $397,000 | $85,837 | |
Period of corporate integrity agreement | 5 years | ||||
Subsequent Event | |||||
Legal Proceedings [Line Items] | |||||
Number of Subpoenas | 6 | ||||
Number of Medical Centers | 6 | ||||
2010 U.S. Attorney Physician Relationship Investigation | |||||
Legal Proceedings [Line Items] | |||||
Settlement payment before accrued interest | 350,000 | ||||
Settlement payment, civil forfeiture | 39,000 | ||||
Contingency reserve | 414,000 | 397,000 | |||
Medicaid | |||||
Legal Proceedings [Line Items] | |||||
Settlement payment before accrued interest | $11,500 |
Recovered_Sheet4
Noncontrolling Interests Subject to Put Provisions and Other Commitments - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Nov. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Commitments And Contingencies Disclosure [Line Items] | |||||
Other potential commitments to provide operating capital to several dialysis centers | $1,000 | ||||
Schedule of Joint ventures to dissolve | Certain consolidated joint ventures are contractually scheduled to dissolve after terms ranging from ten to fifty years. | ||||
HealthCare Partners (HCP) | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Required minimum cash balance | 65,400 | ||||
Epogen | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Long term purchase commitment, period | 7 years | ||||
Long term purchase commitment, expiration date | 31-Dec-13 | 31-Dec-18 | |||
Long term purchase commitment, origination date | 1-Jan-13 | ||||
Dialysis Equipment, Parts and Supplies | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Long-term purchase commitment, time period | In January 2010, the Company entered into an agreement with Fresenius which committed the Company to purchase a certain amount of dialysis equipment, parts and supplies from Fresenius through 2013. However, this agreement has been extended through 2015. | ||||
Long term purchase commitment, expiration year | 2013 | ||||
Purchase commitment, purchase during the period | 154,266 | 144,030 | 138,450 | ||
Dialysis Equipment, Parts and Supplies | Extended Expiration | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Long term purchase commitment, expiration year | 2015 | ||||
Hemodialysis Products, Supplies and Equipment | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Long-term purchase commitment, time period | The Product Supply Agreement committed the Company to purchase a significant majority of its hemodialysis products, supplies and equipment at fixed prices through 2015. | ||||
Long term purchase commitment, expiration year | 2015 | ||||
Purchase commitment, purchase during the period | $112,645 | $124,555 | $147,639 | ||
Minimum | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Scheduled dissolution term of joint ventures | 10 years | ||||
Minimum | Epogen | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Long-term purchase commitment, percentage of quantity required | 90.00% | 90.00% | |||
Maximum | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Scheduled dissolution term of joint ventures | 50 years |
Longterm_incentive_compensatio2
Long-term incentive compensation and shareholders' equity - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 17, 2013 | Jun. 11, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock split ratio | 2 | ||||||
Stock-based compensation expense | $56,743 | $59,998 | $45,384 | ||||
Aggregate intrinsic value of stock awards exercised | 151,342 | 120,775 | 228,698 | ||||
Aggregate intrinsic value of stock awards outstanding | 310,351 | ||||||
Aggregate intrinsic value exercisable | 84,129 | ||||||
Payroll withholdings and lump-sum payments related to the plan, included in accrued compensation and benefits | 698,475 | 603,013 | |||||
Stock-based compensation expense | 118,970 | 84,841 | 45,820 | ||||
Tax benefit for stock-based Compensation | 20,351 | 22,187 | 16,874 | ||||
Unrecognized compensation cost related to outstanding LTIP awards | 122,574 | ||||||
Unrecognized compensation cost related to nonvested stock-based compensation arrangements under equity compensation and stock purchase plans | 73,585 | ||||||
Unrecognized compensation cost related to nonvested stock-based compensation arrangements under performance-based cash component of LTIP costs, weighted average remaining period (in years) | 1 year | ||||||
Unrecognized compensation cost related to nonvested stock-based compensation arrangements under equity compensation and stock purchase plans, weighted average remaining period (in years) | 1 year 3 months 18 days | ||||||
Tax benefits from stock award exercises | 59,119 | 46,898 | 88,964 | ||||
Proceeds from stock option exercises | 0 | 0 | 2,175 | ||||
Common stock shares repurchased | 0 | 0 | 0 | ||||
Repurchase share authorized outstanding amount | 358,200 | ||||||
Charter documents and Delaware law description | The Companybs charter documents include provisions that may deter hostile takeovers, delay or prevent changes of control or changes in management, or limit the ability of stockholders to approve transactions that they may otherwise determine to be in their best interests. These include provisions prohibiting stockholders from acting by written consent, requiring 90 days advance notice of stockholder proposals or nominations to the Board of Directors and granting the Board of Directors the authority to issue up to five million shares of preferred stock and to determine the rights and preferences of the preferred stock without the need for further stockholder approval. The Company is also subject to Section 203 of the Delaware General Corporation Law that, subject to exceptions, would prohibit the Company from engaging in any business combinations with any interested stockholder, as defined in that section, for a period of three years following the date on which that stockholder became an interested stockholder. These restrictions may discourage, delay or prevent a change in the control of the Company. | ||||||
Preferred stock authorized to be issued | 5,000,000 | 5,000,000 | |||||
Acquisition of additional ownership interests in several existing majority-owned joint ventures | 17,876 | 3,569 | 26,761 | ||||
Deferred purchase price obligations | 136 | 209 | |||||
Stock Appreciation Rights | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding balance | 10,585,172 | 12,956,094 | |||||
Weighted average fair value | $16.41 | $13.47 | $11.28 | ||||
Liability-classified share awards | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding balance | 72,734 | ||||||
Stock-based compensation expense | 1,774 | 338 | 175 | ||||
Shares vested in period | 10,625 | ||||||
Stock-based liability | 1,242 | ||||||
Employee stock purchase plan | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares available for future grants | 836,421 | ||||||
Employee entitlement for purchase of the Company's common stock during each calendar year | 25 | ||||||
Payroll withholdings and lump-sum payments related to the plan, included in accrued compensation and benefits | $19,010 | $12,817 | $8,322 | ||||
Stock issued for employee stock purchase plans | 297,954 | 237,961 | 202,658 | ||||
Expected volatility Rate | 27.00% | 28.00% | 26.00% | ||||
Risk-free interest rate | 0.20% | 0.20% | 0.10% | ||||
Weighted average fair value | $16.40 | $14.24 | $10.05 | ||||
Employee stock purchase plan | Beginning Of Period | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock purchase price as percentage of fair market value | 100.00% | ||||||
Employee stock purchase plan | End Of Period | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock purchase price as percentage of fair market value | 85.00% | ||||||
Stock Incentive Plan 2011 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Increase in number of shares of common stock available for issuance | 17,000,000 | 9,000,000 | |||||
Award reduction rate | 3 | 3.5 | |||||
Shares available for future grants | 33,687,881 | ||||||
Stock Incentive Plan 2011 | Minimum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Vesting period | 36 months | ||||||
Stock Incentive Plan 2011 | Maximum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Terms of award (in years) | 5 years | ||||||
Vesting period | 48 months | ||||||
Stock Incentive Plan 2011 | Stock Appreciation Rights | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding balance | 10,585,172 | ||||||
Stock Incentive Plan 2011 | Cash-settled stock appreciation | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding balance | 65,000 | ||||||
Stock Incentive Plan 2011 | Stock Settled Stock Units | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding balance | 921,898 | ||||||
Stock Incentive Plan 2011 | Cash Settled Stock Units | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding balance | 7,734 |
Summary_of_Status_of_Awards_Un
Summary of Status of Awards Under Stock-Based Compensation Plans and Agreements (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Appreciation Rights | |||
Awards | |||
Outstanding at beginning of year | 12,956,094 | ||
Granted | 1,553,829 | ||
Exercised | -3,473,804 | ||
Cancelled | -450,947 | ||
Outstanding at end of period | 10,585,172 | 12,956,094 | |
Exercisable at end of period | 2,541,397 | ||
Weighted-average fair value of awards granted | $16.41 | $13.47 | $11.28 |
Weighted average exercise price | |||
Outstanding at beginning of year | $45.44 | ||
Granted | $70.15 | ||
Exercised | $32.05 | ||
Cancelled | $51.49 | ||
Outstanding at end of period | $53.21 | $45.44 | |
Exercisable at end of period | $42.79 | ||
Weighted average remaining contractual life | |||
Outstanding at end of period | 2 years 8 months 12 days | ||
Exercisable at end of period | 1 year 7 months 6 days | ||
Stock Unit | |||
Awards | |||
Outstanding at beginning of year | 966,596 | ||
Granted | 332,007 | ||
Exercised | -303,970 | ||
Cancelled | -72,735 | ||
Outstanding at end of period | 921,898 | 966,596 | |
Exercisable at end of period | 496 | ||
Weighted-average fair value of awards granted | $72.24 | $58.90 | $54.85 |
Weighted average remaining contractual life | |||
Outstanding at end of period | 1 year 6 months | ||
Exercisable at end of period | 3 months 18 days |
Summary_of_Range_of_Exercise_P
Summary of Range of Exercise Prices (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Awards outstanding | 10,585,172 |
Weighted average exercise price | $53.21 |
Awards exercisable | 2,541,397 |
Weighted average exercise price | $42.79 |
Range 1 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, lower range | $20.01 |
Range of exercise prices, upper range | $30 |
Awards outstanding | 9,000 |
Weighted average exercise price | $29.90 |
Awards exercisable | 9,000 |
Weighted average exercise price | $29.90 |
Range 2 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, lower range | $30.01 |
Range of exercise prices, upper range | $40 |
Awards outstanding | 893,976 |
Weighted average exercise price | $34.92 |
Awards exercisable | 710,869 |
Weighted average exercise price | $34.65 |
Range 3 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, lower range | $40.01 |
Range of exercise prices, upper range | $50 |
Awards outstanding | 3,230,512 |
Weighted average exercise price | $43.02 |
Awards exercisable | 1,545,204 |
Weighted average exercise price | $42.86 |
Range 4 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, lower range | $50.01 |
Range of exercise prices, upper range | $60 |
Awards outstanding | 4,577,354 |
Weighted average exercise price | $57.49 |
Awards exercisable | 36,324 |
Weighted average exercise price | $55.03 |
Range 5 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, lower range | $60.01 |
Range of exercise prices, upper range | $70 |
Awards outstanding | 1,470,547 |
Weighted average exercise price | $68.06 |
Awards exercisable | 240,000 |
Weighted average exercise price | $65.08 |
Range 6 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of exercise prices, lower range | $70.01 |
Range of exercise prices, upper range | $80 |
Awards outstanding | 403,783 |
Weighted average exercise price | $73.07 |
Summary_of_Weighted_Average_Va
Summary of Weighted Average Valuation Inputs (Detail) (Stock Options And Stock Appreciation Rights) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Options And Stock Appreciation Rights | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term | 4 years 2 months 12 days | 4 years 1 month 6 days | 3 years 8 months 12 days |
Expected volatility | 25.80% | 27.20% | 28.00% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 1.50% | 0.70% | 0.60% |
Effects_of_Changes_in_DaVita_I
Effects of Changes in DaVita Inc's Ownership Interest on Company's Equity (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $208,020 | $184,122 | $147,683 | $183,289 | $212,278 | $136,628 | $254,376 | $30,164 | $723,114 | $633,446 | $536,017 |
Net transfer to noncontrolling interests | -5,002 | -4,561 | -19,630 | ||||||||
Change from net income attributable to DaVita HealthCare Partners Inc. and transfers to noncontrolling interests | 718,112 | 628,885 | 516,387 | ||||||||
Additional paid-in capital | |||||||||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||||||||||
Increase (decrease) in paid-in capital for sales of noncontrolling interest | 355 | -1,442 | 1,064 | ||||||||
Decrease in paid-in capital for the purchase of a noncontrolling interest | ($5,357) | ($3,119) | ($20,694) |
Recovered_Sheet5
Other Comprehensive Income (loss) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | ($2,645) | ||
Unrealized (losses) gains | 425 | 3,752 | |
Unrealized (losses) gains net | 238 | 2,300 | 1,541 |
Reclassification from accumulated other comprehensive losses (income) into net income | -340 | -802 | |
Reclassification from accumulated other | -207 | -490 | -75 |
Ending balance | -25,017 | -2,645 | |
Interest Rate Swaps and Interest Rate Cap Agreements | |||
Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | -2,344 | -15,402 | -19,328 |
Unrealized (losses) gains | -16,509 | 277 | -10,154 |
Related income tax | 6,450 | -108 | 3,950 |
Unrealized (losses) gains net | -10,059 | 169 | -6,204 |
Reclassification from accumulated other comprehensive losses (income) into net income | 17,409 | 21,096 | 16,578 |
Related income tax | -6,801 | -8,207 | -6,448 |
Reclassification from accumulated other | 10,608 | 12,889 | 10,130 |
Ending balance | -1,795 | -2,344 | -15,402 |
Investment securities | |||
Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 3,120 | 1,310 | -156 |
Unrealized (losses) gains | 425 | 3,752 | 2,524 |
Related income tax | -187 | -1,452 | -983 |
Unrealized (losses) gains net | 238 | 2,300 | 1,541 |
Reclassification from accumulated other comprehensive losses (income) into net income | -340 | -802 | -123 |
Related income tax | 133 | 312 | 48 |
Reclassification from accumulated other | -207 | -490 | -75 |
Ending balance | 3,151 | 3,120 | 1,310 |
Foreign currency translation adjustments | |||
Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | -3,421 | -1,205 | |
Unrealized (losses) gains | -22,952 | -2,216 | -1,205 |
Unrealized (losses) gains net | -22,952 | -2,216 | -1,205 |
Ending balance | -26,373 | -3,421 | -1,205 |
Accumulated other comprehensive income (loss) | |||
Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | -2,645 | -15,297 | -19,484 |
Unrealized (losses) gains | -39,036 | 1,813 | -8,835 |
Related income tax | 6,263 | -1,560 | 2,967 |
Unrealized (losses) gains net | -32,773 | 253 | -5,868 |
Reclassification from accumulated other comprehensive losses (income) into net income | 17,069 | 20,294 | 16,455 |
Related income tax | -6,668 | -7,895 | -6,400 |
Reclassification from accumulated other | 10,401 | 12,399 | 10,055 |
Ending balance | ($25,017) | ($2,645) | ($15,297) |
Recovered_Sheet6
Acquisitions and Discontinued Operations - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 12, 2012 | Apr. 03, 2013 | Nov. 01, 2012 |
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 10 years | 14 years | 17 years | |||
Goodwill deductible for tax purposes associated with acquisitions | $175,247 | $221,454 | $491,457 | |||
Contingent earn-out obligation adjustment | -56,977 | |||||
Additional cash consideration in the form of earn-out payments | 15,614 | 6,577 | ||||
Proceeds from sale of discontinued operations | 62,258 | 3,559 | ||||
Gain recorded on account of divestitures | 13,375 | |||||
Other Accrued Liabilities | ||||||
Business Acquisition [Line Items] | ||||||
Fair value of contingent earn-out consideration | 15,614 | |||||
Other long-term liabilities | ||||||
Business Acquisition [Line Items] | ||||||
Fair value of contingent earn-out consideration | 23,515 | |||||
Other companies | ||||||
Business Acquisition [Line Items] | ||||||
Additional cash consideration in the form of earn-out payments | 134,321 | |||||
Fair value of contingent earn-out consideration | 39,129 | |||||
Other companies | EBITDA performance targets and quality margins | ||||||
Business Acquisition [Line Items] | ||||||
Earn out consideration payment period | 2 years | |||||
Other companies | Operating income targets | ||||||
Business Acquisition [Line Items] | ||||||
Earn out consideration payment period | 3 years | |||||
Customer relationships | ||||||
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 10 years | 17 years | 18 years | |||
Noncompetition agreements | ||||||
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 8 years | 9 years | 8 years | |||
HomeChoice Partners | ||||||
Business Acquisition [Line Items] | ||||||
Proceeds from sale of discontinued operations | 70,000 | |||||
Performance amounts thresholds measurement period | 2 years | |||||
Contingent receivable | 0 | |||||
Gain recorded on account of divestitures | 13,375 | |||||
HomeChoice Partners | Maximum | ||||||
Business Acquisition [Line Items] | ||||||
Deferred purchase price obligations | 9,000 | |||||
Additional consideration if certain performance amounts exceed certain thresholds over the next two years | 20,000 | |||||
Approximate percentage of sale proceeds received. | 90.00% | |||||
Other dialysis acquisitions | ||||||
Business Acquisition [Line Items] | ||||||
Cash paid to acquire business | 272,094 | 310,394 | 648,318 | |||
Other dialysis acquisitions | U.S. dialysis and related lab services | ||||||
Business Acquisition [Line Items] | ||||||
Number of businesses acquired | 18 | 26 | 93 | |||
Other dialysis acquisitions | Foreign Dialysis And Other Medical Businesses | ||||||
Business Acquisition [Line Items] | ||||||
Number of businesses acquired | 7 | 38 | 13 | |||
Other dialysis acquisitions | HomeChoice Partners | Maximum | ||||||
Business Acquisition [Line Items] | ||||||
Deferred purchase price obligations | 23,781 | 24,683 | 6,101 | |||
HealthCare Partners (HCP) | ||||||
Business Acquisition [Line Items] | ||||||
Cash paid to acquire business | 3,645,759 | |||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 17 years 2 months 12 days | |||||
Goodwill deductible for tax purposes associated with acquisitions | 2,426,986 | |||||
Total consideration paid | 4,701,231 | |||||
Common stock share issued to acquire business | 18,760,624 | |||||
Approximate value of common stock share issued | 1,055,472 | |||||
Cash paid for post-closing working capital adjustment | 5,251 | |||||
Additional cash consideration in the form of earn-out payments | 275,000 | |||||
Amortizable intangible assets | 1,882,818 | |||||
Goodwill deductible period for tax purpose | 14 years | |||||
Contingent consideration payment | 68,750 | 136,954 | ||||
Contingent earn-out obligation adjustment | 56,977 | |||||
HealthCare Partners (HCP) | Customer relationships | ||||||
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 20 years | |||||
Amortizable intangible assets | 1,453,410 | |||||
HealthCare Partners (HCP) | Noncompetition agreements | ||||||
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 5 years 8 months 12 days | |||||
Amortizable intangible assets | 74,650 | |||||
HealthCare Partners (HCP) | Trade names | ||||||
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 10 years 7 months 6 days | |||||
Amortizable intangible assets | 170,494 | |||||
HealthCare Partners (HCP) | Provider network and practice management tools | ||||||
Business Acquisition [Line Items] | ||||||
Amortizable intangible assets acquired, weighted-average estimated useful lives | 7 years | |||||
Amortizable intangible assets | $184,264 |
Aggregate_Purchase_Cost_Alloca
Aggregate Purchase Cost Allocations for Acquisitions of DSI Renal Inc (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Business Acquisition [Line Items] | |||
Goodwill | $9,415,295 | $9,212,974 | $8,952,750 |
Other dialysis acquisitions | |||
Business Acquisition [Line Items] | |||
Current assets | 915 | 7,215 | 18,708 |
Property and equipment | 5,999 | 23,760 | 41,741 |
Amortizable intangible and other long-term assets | 95,293 | 80,646 | 90,296 |
Goodwill | 221,514 | 271,267 | 554,685 |
Long-term deferred income taxes | -5,666 | -1,838 | |
Noncontrolling interests assumed | -25,963 | -22,880 | -21,962 |
Liabilities assumed | -1,883 | -19,265 | -27,211 |
Aggregate purchase cost | $295,875 | $335,077 | $654,419 |
Aggregate_Purchase_Cost_Alloca1
Aggregate Purchase Cost Allocations for Acquisitions of HCP (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 01, 2012 |
In Thousands, unless otherwise specified | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $9,415,295 | $9,212,974 | $8,952,750 | |
HealthCare Partners (HCP) | ||||
Business Acquisition [Line Items] | ||||
Current assets, net of cash acquired | 321,235 | |||
Property and equipment | 102,382 | |||
Intangible assets | 1,882,818 | |||
Other long-term assets | 100,143 | |||
Goodwill | 3,496,713 | |||
Current liabilities assumed | -559,180 | |||
Other long-term liabilities | -169,015 | |||
Long-term deferred income taxes | -184,015 | |||
Noncontrolling interests | -29,850 | |||
Aggregate purchase cost | $4,961,231 |
Reconciliation_of_Changes_in_C
Reconciliation of Changes in Contingent Earn-Out Obligations (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Business Combinations [Abstract] | |
Beginning balance | $28,058 |
Contingent earn-out obligations associated with acquisitions | 18,234 |
Remeasurement of fair value | -4,448 |
Payments of contingent earn-out obligations | -2,715 |
Ending balance | $39,129 |
Results_from_Discontinued_Oper
Results from Discontinued Operations Related to Homechoice (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
(Loss) income from discontinued operations | ($139) | ($222) |
HomeChoice Partners | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Net revenues | 6,351 | 67,990 |
Loss before income taxes | -223 | -304 |
Income tax benefit | -84 | -82 |
(Loss) income from discontinued operations | ($139) | ($222) |
Net_Assets_of_Discontinued_Ope
Net Assets of Discontinued Operations Related to Homechoice (Detail) (HomeChoice Partners, USD $) | Feb. 01, 2013 |
In Thousands, unless otherwise specified | |
HomeChoice Partners | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Current assets | $17,039 |
Property and equipment, net | 2,963 |
Long-term assets | 28 |
Goodwill | 31,853 |
Liabilities and noncontrolling interests | -8,998 |
Net assets from discontinued operations | $42,885 |
Pro_Forma_Summary_of_Results_o
Pro Forma Summary of Results of Operation (Detail) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Discontinued Operations And Disposal Groups [Abstract] | ||
Pro forma net revenues | $12,887,330 | $12,160,749 |
Pro forma net income attributable to DaVita HealthCare Partners Inc. | 733,490 | 651,204 |
Pro forma income from continuing operations attributable to DaVita HealthCare Partners Inc. | $733,490 | $651,204 |
Pro forma basic net income per share attributable to DaVita HealthCare Partners Inc. | $3.45 | $3.10 |
Pro forma diluted net income per share attributable to DaVita HealthCare Partners Inc. | $3.38 | $3.03 |
Variable_Interest_Entities_Add
Variable Interest Entities - Additional Information (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Asset | $575,074 |
Liabilities | $311,148 |
Concentrations_Additional_Info
Concentrations - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Concentration Risk [Line Items] | |||
Concentration risk, customer | There is no single payor that accounted for more than 10% of total consolidated accounts receivable at December 31, 2014 and 2013. | ||
Accounts Receivable | Government-based Programs, Medicare and Medicaid | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 80.00% | ||
Accounts Receivable | Product Concentration Risk | Minimum | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 10.00% | 10.00% | |
U.S. dialysis and related lab services | Sales Revenue, Services, Net | Government-based Programs, Medicare and Medicaid | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 67.00% | 66.00% | 66.00% |
Accounts receivable, and other receivables, from Medicare and Medicaid-assigned plans | $705,532 | $679,006 | |
U.S. dialysis and related lab services | Sales Revenue, Services, Net | Supplier Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 2.00% | 2.00% | |
HealthCare Partners (HCP) | |||
Concentration Risk [Line Items] | |||
Number of health plans | 3 | ||
HealthCare Partners (HCP) | Sales Revenue, Services, Net | Government-based Programs, Medicare and Medicaid | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 71.00% | 69.00% | |
HealthCare Partners (HCP) | Sales Revenue, Services, Net | Product Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 64.00% | 67.00% | |
HealthCare Partners (HCP) | Accounts Receivable | Customer Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 73.00% | 69.00% |
Assets_Liabilities_and_Tempora
Assets, Liabilities and Temporary Equity Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Funds on deposit with third parties | $81,276 | $79,317 |
Liabilities | ||
Contingent earn-out obligations | 39,129 | 28,058 |
Fair Value, Measurements, Recurring | ||
Assets | ||
Available for sale securities | 28,123 | 19,421 |
Funds on deposit with third parties | 81,276 | 79,317 |
Liabilities | ||
Interest rate swap agreements | 1,457 | 12,069 |
Contingent earn-out obligations | 39,129 | 28,058 |
Temporary equity | ||
Noncontrolling interests subject to put provisions | 829,965 | 697,300 |
Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Available for sale securities | 28,123 | 19,421 |
Funds on deposit with third parties | 81,276 | 79,317 |
Fair Value, Measurements, Recurring | Level 2 | ||
Liabilities | ||
Interest rate swap agreements | 1,457 | 12,069 |
Fair Value, Measurements, Recurring | Level 3 | ||
Liabilities | ||
Contingent earn-out obligations | 39,129 | 28,058 |
Temporary equity | ||
Noncontrolling interests subject to put provisions | 829,965 | 697,300 |
Fair Value, Measurements, Recurring | Interest rate cap agreements | ||
Assets | ||
Interest rate derivative agreements | 13,934 | 7,567 |
Fair Value, Measurements, Recurring | Interest rate cap agreements | Level 2 | ||
Assets | ||
Interest rate derivative agreements | 13,934 | 7,567 |
Fair Value, Measurements, Recurring | Interest rate swap agreements | ||
Assets | ||
Interest rate derivative agreements | 3,281 | 10,004 |
Fair Value, Measurements, Recurring | Interest rate swap agreements | Level 2 | ||
Assets | ||
Interest rate derivative agreements | $3,281 | $10,004 |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Debt instrument, carrying amount | $8,519,642 | $8,433,603 |
Senior Secured Credit Facilities | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Debt instrument, carrying amount | 4,441,292 | |
Debt instrument, fair value | 4,420,238 | |
Senior Notes | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Debt instrument, carrying amount | 3,775,000 | |
Debt instrument, fair value | $3,924,715 |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2014 | |
Segment | |
Segment Reporting [Abstract] | |
Number of Operating Segments | 2 |
Summary_of_Segment_Net_Revenue
Summary of Segment Net Revenues, Segment Operating Income Loss and Reconciliation of Segment Income to Consolidated Income from Continuing Operations Before Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Segment Reporting Information [Line Items] | ||||||||||||||
Patient service revenues | $3,328,017 | $3,251,824 | $3,172,489 | $3,042,776 | $3,063,209 | $2,999,586 | $2,871,673 | $2,829,582 | $8,868,338 | $8,307,195 | $7,351,902 | |||
Net patient service revenues | 8,501,454 | 8,013,649 | 7,116,684 | |||||||||||
Other revenues | 1,032,364 | 763,086 | 588,260 | |||||||||||
Total net operating revenues | 12,795,106 | 11,764,050 | 8,186,280 | |||||||||||
Capitated revenues | 3,261,288 | 2,987,315 | 481,336 | |||||||||||
Operating income | 452,085 | 437,536 | 484,295 | 441,225 | 484,179 | 377,074 | 522,020 | 166,861 | 1,815,141 | 1,550,134 | 1,297,084 | |||
Contingent earn-out obligation adjustment | 56,977 | |||||||||||||
Corporate support costs | -13,012 | [1] | -53,699 | [1] | -46,481 | [1] | ||||||||
Transaction expenses | -30,753 | |||||||||||||
Operating income | 452,085 | 437,536 | 484,295 | 441,225 | 484,179 | 377,074 | 522,020 | 166,861 | 1,815,141 | 1,550,134 | 1,297,084 | |||
Debt expense | -410,294 | -429,943 | -288,554 | |||||||||||
Debt refinancing charges | -97,548 | -10,963 | ||||||||||||
Other income, net | 2,374 | 4,787 | 3,737 | |||||||||||
Consolidated income from continuing operations before income taxes | 354,365 | 336,412 | 282,308 | 336,588 | 380,020 | 270,766 | 412,550 | 61,642 | 1,309,673 | 1,124,978 | 1,001,304 | |||
Operating Segments | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Total net operating revenues | 12,852,469 | 11,812,296 | 8,214,547 | |||||||||||
Operating income | 1,828,153 | [2] | 1,546,856 | [2] | 1,374,318 | [2] | ||||||||
Operating income | 1,828,153 | [2] | 1,546,856 | [2] | 1,374,318 | [2] | ||||||||
Operating Segments | U.S. dialysis and related lab services | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Patient service revenues | 8,550,201 | 8,032,772 | 7,316,818 | |||||||||||
Less: Provision for uncollectible accounts | -353,028 | -281,146 | -233,580 | |||||||||||
Net patient service revenues | 8,197,173 | 7,751,626 | 7,083,238 | |||||||||||
Other revenues | 13,498 | [3] | 12,600 | [3] | 11,447 | [3] | ||||||||
Total net operating revenues | 8,210,671 | 7,764,226 | 7,094,685 | |||||||||||
Operating income | 1,637,626 | [2] | 1,200,198 | [2] | 1,372,265 | [2] | ||||||||
Operating income | 1,637,626 | [2] | 1,200,198 | [2] | 1,372,265 | [2] | ||||||||
Operating Segments | U.S. dialysis and related lab services | External Sources | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Patient service revenues | 8,513,089 | 7,998,692 | 7,299,032 | |||||||||||
Operating Segments | U.S. dialysis and related lab services | Intersegment Revenue | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Patient service revenues | 37,112 | 34,080 | 17,786 | |||||||||||
Operating Segments | HealthCare Partners (HCP) | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Net patient service revenues | 219,306 | 220,251 | 34,407 | |||||||||||
Other revenues | 91,374 | [4] | 55,723 | [4] | 23,552 | [4] | ||||||||
Total net operating revenues | 3,502,299 | 3,196,188 | 477,390 | |||||||||||
Capitated revenues | 3,190,903 | 2,919,964 | 419,431 | |||||||||||
Operating income | 214,983 | [2] | 385,253 | [2] | 66,930 | [2] | ||||||||
Operating income | 214,983 | [2] | 385,253 | [2] | 66,930 | [2] | ||||||||
Operating Segments | HealthCare Partners (HCP) | Intersegment Revenue | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Other revenues | 716 | 250 | ||||||||||||
Operating Segments | Other-Ancillary services and strategic initiatives | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Net patient service revenues | 122,087 | 75,852 | 16,824 | |||||||||||
Other revenues | 927,492 | 694,763 | 553,261 | |||||||||||
Total net operating revenues | 1,139,499 | 851,882 | 642,472 | |||||||||||
Capitated revenues | 70,385 | 67,351 | 61,906 | |||||||||||
Operating income | -24,456 | [2] | -38,595 | [2] | -64,877 | [2] | ||||||||
Operating income | -24,456 | [2] | -38,595 | [2] | -64,877 | [2] | ||||||||
Operating Segments | Other-Ancillary services and strategic initiatives | Intersegment Revenue | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Total net operating revenues | 19,535 | 13,916 | 10,481 | |||||||||||
Intersegment Elimination | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Total net operating revenues | ($57,363) | ($48,246) | ($28,267) | |||||||||||
[1] | Corporate support costs in 2013 also include $7,721 of an adjustment to reduce a tax asset associated with the HCP acquisition escrow provisions. | |||||||||||||
[2] | Certain costs previously reported in the ancillary services and strategic initiatives have been reclassified to U.S. dialysis and related lab services to conform to the current year presentation. | |||||||||||||
[3] | Includes management fees for providing management and administrative services to dialysis centers in which the Company owns a minority equity investment or which are wholly-owned by third parties. | |||||||||||||
[4] | Other revenues primarily relate to providing medical consulting services. |
Summary_of_Segment_Net_Revenue1
Summary of Segment Net Revenues, Segment Operating Income Loss and Reconciliation of Segment Income to Consolidated Income from Continuing Operations Before Income Taxes (Parenthetical) (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Segment Reporting Information [Line Items] | ||||||
Corporate support costs, Adjustment to reduce tax | $13,012 | [1] | $53,699 | [1] | $46,481 | [1] |
Tax Adjustments | ||||||
Segment Reporting Information [Line Items] | ||||||
Corporate support costs, Adjustment to reduce tax | $7,721 | |||||
[1] | Corporate support costs in 2013 also include $7,721 of an adjustment to reduce a tax asset associated with the HCP acquisition escrow provisions. |
Summary_of_Depreciation_and_Am
Summary of Depreciation and Amortization Expense by Segment (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | $590,935 | $528,737 | $341,969 |
U.S. dialysis and related lab services | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 402,767 | 355,879 | 310,375 |
HealthCare Partners (HCP) | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 169,485 | 158,356 | 24,544 |
Other-Ancillary services and strategic initiatives | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | $18,683 | $14,502 | $7,050 |
Summary_of_Assets_by_Segment_D
Summary of Assets by Segment (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Total assets | $17,942,715 | $17,098,877 | ||
U.S. dialysis and related lab services | ||||
ASSETS | ||||
Total assets | 10,959,096 | 10,248,993 | ||
HealthCare Partners (HCP) | ||||
ASSETS | ||||
Total assets | 6,285,984 | 6,265,767 | ||
Other-Ancillary services and strategic initiatives | ||||
ASSETS | ||||
Total assets | $697,635 | [1] | $584,117 | [1] |
[1] | Includes approximately $44,000 and $26,000 in 2014 and 2013, respectively, of net property and equipment related to the Companybs international operations. |
Summary_of_Assets_by_Segment_P
Summary of Assets by Segment (Parenthetical) (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ||
Equity investments | $65,637 | $40,686 |
Property and equipment, net | 2,469,099 | 2,189,411 |
U.S. dialysis and related lab services | ||
Segment Reporting Information [Line Items] | ||
Equity investments | 28,138 | 27,009 |
HealthCare Partners (HCP) | ||
Segment Reporting Information [Line Items] | ||
Equity investments | 15,393 | 13,677 |
Other-Ancillary services and strategic initiatives | ||
Segment Reporting Information [Line Items] | ||
Equity investments | 22,106 | |
Other-Ancillary services and strategic initiatives | Outside United States | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $44,000 | $26,000 |
Summary_of_Expenditures_for_Pr
Summary of Expenditures for Property and Equipment by Segment (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Expenditures for property and equipment | $641,330 | $617,597 | $550,146 |
U.S. dialysis and related lab services | |||
Segment Reporting Information [Line Items] | |||
Expenditures for property and equipment | 560,610 | 554,345 | 524,180 |
HealthCare Partners (HCP) | |||
Segment Reporting Information [Line Items] | |||
Expenditures for property and equipment | 27,885 | 31,582 | 7,464 |
Other-Ancillary services and strategic initiatives | |||
Segment Reporting Information [Line Items] | |||
Expenditures for property and equipment | $52,835 | $31,670 | $18,502 |
Recovered_Sheet7
Supplemental Cash Flow Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash paid: | |||
Income taxes | $238,615 | $341,426 | $322,018 |
Interest | 351,967 | 405,030 | 257,640 |
Non-cash investing and financing activities: | |||
Fixed assets under capital lease obligations | $72,389 | $60,920 | $55,813 |
Selected_quarterly_financial_d2
Selected quarterly financial data (unaudited) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net revenues | $3,328,017 | $3,251,824 | $3,172,489 | $3,042,776 | $3,063,209 | $2,999,586 | $2,871,673 | $2,829,582 | $8,868,338 | $8,307,195 | $7,351,902 |
Operating income | 452,085 | 437,536 | 484,295 | 441,225 | 484,179 | 377,074 | 522,020 | 166,861 | 1,815,141 | 1,550,134 | 1,297,084 |
Income from continuing operations before income taxes | 354,365 | 336,412 | 282,308 | 336,588 | 380,020 | 270,766 | 412,550 | 61,642 | 1,309,673 | 1,124,978 | 1,001,304 |
Discontinued operations, net of tax. | 13,236 | 13,236 | -222 | ||||||||
Net income attributable to DaVita HealthCare Partners Inc. | $208,020 | $184,122 | $147,683 | $183,289 | $212,278 | $136,628 | $254,376 | $30,164 | $723,114 | $633,446 | $536,017 |
Basic income from continuing operations per share attributable to DaVita HealthCare Partners Inc. | $0.98 | $0.87 | $0.70 | $0.87 | $1.01 | $0.65 | $1.21 | $0.08 | $3.41 | $2.95 | $2.79 |
Basic net income per share attributable to DaVita HealthCare Partners Inc. | $0.98 | $0.87 | $0.70 | $0.87 | $1.01 | $0.65 | $1.21 | $0.14 | $3.41 | $3.02 | $2.79 |
Diluted income from continuing operations per share attributable to DaVita HealthCare Partners Inc. | $0.96 | $0.85 | $0.68 | $0.85 | $0.99 | $0.64 | $1.18 | $0.08 | $3.33 | $2.89 | $2.74 |
Diluted net income per share attributable to DaVita HealthCare Partners Inc. | $0.96 | $0.85 | $0.68 | $0.85 | $0.99 | $0.64 | $1.18 | $0.14 | $3.33 | $2.95 | $2.74 |
Consolidating_Statements_of_In
Consolidating Statements of Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Patient service revenues | $3,328,017 | $3,251,824 | $3,172,489 | $3,042,776 | $3,063,209 | $2,999,586 | $2,871,673 | $2,829,582 | $8,868,338 | $8,307,195 | $7,351,902 |
Less: Provision for uncollectible accounts | -366,884 | -293,546 | -235,218 | ||||||||
Net patient service revenues | 8,501,454 | 8,013,649 | 7,116,684 | ||||||||
Capitated revenues | 3,261,288 | 2,987,315 | 481,336 | ||||||||
Other revenues | 1,032,364 | 763,086 | 588,260 | ||||||||
Total net revenues | 12,795,106 | 11,764,050 | 8,186,280 | ||||||||
Operating expenses and charges | 10,979,965 | 10,213,916 | 6,889,196 | ||||||||
Operating income | 452,085 | 437,536 | 484,295 | 441,225 | 484,179 | 377,074 | 522,020 | 166,861 | 1,815,141 | 1,550,134 | 1,297,084 |
Debt (expense) and refinancing charges | -507,842 | -429,943 | -299,517 | ||||||||
Other income, net | 2,374 | 4,787 | 3,737 | ||||||||
Income tax expense | 446,343 | 381,013 | 359,845 | ||||||||
Income from continuing operations | 863,330 | 743,965 | 641,459 | ||||||||
Discontinued operations | 13,236 | 13,236 | -222 | ||||||||
Net income | 863,330 | 757,201 | 641,237 | ||||||||
Less: Net income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 | ||||||||
Net income attributable to DaVita HealthCare Partners Inc. | 208,020 | 184,122 | 147,683 | 183,289 | 212,278 | 136,628 | 254,376 | 30,164 | 723,114 | 633,446 | 536,017 |
DaVita HealthCare Partners Inc. | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Other revenues | 684,066 | 616,155 | 514,190 | ||||||||
Total net revenues | 684,066 | 616,155 | 514,190 | ||||||||
Operating expenses and charges | 443,951 | 434,776 | 365,680 | ||||||||
Operating income | 240,115 | 181,379 | 148,510 | ||||||||
Debt (expense) and refinancing charges | -502,762 | -427,141 | -331,944 | ||||||||
Other income, net | 385,532 | 402,910 | 265,508 | ||||||||
Income tax expense | 46,856 | 59,716 | 32,912 | ||||||||
Equity earnings in subsidiaries | 647,085 | 536,014 | 486,855 | ||||||||
Income from continuing operations | 633,446 | 536,017 | |||||||||
Net income | 723,114 | 633,446 | 536,017 | ||||||||
Net income attributable to DaVita HealthCare Partners Inc. | 723,114 | 633,446 | 536,017 | ||||||||
Guarantor Subsidiaries | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Patient service revenues | 6,246,683 | 5,989,658 | 5,417,800 | ||||||||
Less: Provision for uncollectible accounts | -238,600 | -177,415 | -124,592 | ||||||||
Net patient service revenues | 6,008,083 | 5,812,243 | 5,293,208 | ||||||||
Capitated revenues | 1,689,634 | 1,427,321 | 232,744 | ||||||||
Other revenues | 1,639,828 | 1,534,310 | 745,920 | ||||||||
Total net revenues | 9,337,545 | 8,773,874 | 6,271,872 | ||||||||
Operating expenses and charges | 8,276,991 | 7,843,476 | 5,479,531 | ||||||||
Operating income | 1,060,554 | 930,398 | 792,341 | ||||||||
Debt (expense) and refinancing charges | -363,623 | -366,188 | -207,499 | ||||||||
Other income, net | 11,731 | 1,903 | 4,305 | ||||||||
Income tax expense | 397,268 | 303,603 | 320,267 | ||||||||
Equity earnings in subsidiaries | 335,691 | 260,268 | 218,197 | ||||||||
Income from continuing operations | 522,778 | 487,077 | |||||||||
Net income | 647,085 | 522,778 | 487,077 | ||||||||
Net income attributable to DaVita HealthCare Partners Inc. | 647,085 | 522,778 | 487,077 | ||||||||
Non-Guarantor Subsidiaries | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Patient service revenues | 2,739,996 | 2,420,975 | 2,005,424 | ||||||||
Less: Provision for uncollectible accounts | -128,284 | -116,131 | -110,626 | ||||||||
Net patient service revenues | 2,611,712 | 2,304,844 | 1,894,798 | ||||||||
Capitated revenues | 1,579,804 | 1,560,244 | 248,592 | ||||||||
Other revenues | 24,155 | 17,867 | 10,190 | ||||||||
Total net revenues | 4,215,671 | 3,882,955 | 2,153,580 | ||||||||
Operating expenses and charges | 3,701,199 | 3,444,598 | 1,797,347 | ||||||||
Operating income | 514,472 | 438,357 | 356,233 | ||||||||
Debt (expense) and refinancing charges | -43,449 | -39,413 | -27,193 | ||||||||
Other income, net | 7,103 | 2,773 | 1,043 | ||||||||
Income tax expense | 2,219 | 17,694 | 6,666 | ||||||||
Income from continuing operations | 384,023 | 323,417 | |||||||||
Discontinued operations | 13,236 | -222 | |||||||||
Net income | 475,907 | 397,259 | 323,195 | ||||||||
Net income attributable to DaVita HealthCare Partners Inc. | 475,907 | 397,259 | 323,195 | ||||||||
Consolidating Adjustments | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Patient service revenues | -118,341 | -103,438 | -71,322 | ||||||||
Net patient service revenues | -118,341 | -103,438 | -71,322 | ||||||||
Capitated revenues | -8,150 | -250 | |||||||||
Other revenues | -1,315,685 | -1,405,246 | -682,040 | ||||||||
Total net revenues | -1,442,176 | -1,508,934 | -753,362 | ||||||||
Operating expenses and charges | -1,442,176 | -1,508,934 | -753,362 | ||||||||
Debt (expense) and refinancing charges | 401,992 | 402,799 | 267,119 | ||||||||
Other income, net | -401,992 | -402,799 | -267,119 | ||||||||
Equity earnings in subsidiaries | -982,776 | -796,282 | -705,052 | ||||||||
Income from continuing operations | -796,282 | -705,052 | |||||||||
Net income | -982,776 | -796,282 | -705,052 | ||||||||
Less: Net income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 | ||||||||
Net income attributable to DaVita HealthCare Partners Inc. | ($1,122,992) | ($920,037) | ($810,272) |
Consolidating_Statements_of_Co
Consolidating Statements of Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $863,330 | $757,201 | $641,237 |
Other comprehensive income (losses) | -22,372 | 12,652 | 4,187 |
Total comprehensive income (losses) | 840,958 | 769,853 | 645,424 |
Less: Comprehensive income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | 700,742 | 646,098 | 540,204 |
DaVita HealthCare Partners Inc. | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 723,114 | 633,446 | 536,017 |
Other comprehensive income (losses) | 580 | 14,868 | 5,392 |
Total comprehensive income (losses) | 723,694 | 648,314 | 541,409 |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | 723,694 | 648,314 | 541,409 |
Guarantor Subsidiaries | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 647,085 | 522,778 | 487,077 |
Total comprehensive income (losses) | 647,085 | 522,778 | 487,077 |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | 647,085 | 522,778 | 487,077 |
Non-Guarantor Subsidiaries | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 475,907 | 397,259 | 323,195 |
Other comprehensive income (losses) | -22,952 | -2,216 | -1,205 |
Total comprehensive income (losses) | 452,955 | 395,043 | 321,990 |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | 452,955 | 395,043 | 321,990 |
Consolidating Adjustments | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | -982,776 | -796,282 | -705,052 |
Total comprehensive income (losses) | -982,776 | -796,282 | -705,052 |
Less: Comprehensive income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | ($1,122,992) | ($920,037) | ($810,272) |
Consolidating_Balance_Sheets_D
Consolidating Balance Sheets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $965,241 | $946,249 | $533,748 | $393,752 |
Accounts receivable, net | 1,525,849 | 1,485,163 | ||
Other current assets | 1,385,707 | 1,040,866 | ||
Total current assets | 3,876,797 | 3,472,278 | ||
Property and equipment, net | 2,469,099 | 2,189,411 | ||
Intangible assets, net | 1,949,498 | 2,024,373 | ||
Other long-term assets and investments | 232,026 | 199,841 | ||
Goodwill | 9,415,295 | 9,212,974 | 8,952,750 | |
Total assets | 17,942,715 | 17,098,877 | ||
Current liabilities | 2,088,652 | 2,462,049 | ||
Long-term debt and other long-term liabilities | 9,663,787 | 9,333,987 | ||
Noncontrolling interests subject to put provisions | 829,965 | 697,300 | ||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 5,170,513 | 4,432,479 | ||
Noncontrolling interests not subject to put provisions | 189,798 | 173,062 | ||
Total equity | 5,360,311 | 4,605,541 | ||
Total liabilities and equity | 17,942,715 | 17,098,877 | ||
DaVita HealthCare Partners Inc. | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 698,876 | 602,188 | 195,037 | 365,276 |
Other current assets | 362,672 | 27,910 | ||
Total current assets | 1,061,548 | 630,098 | ||
Property and equipment, net | 195,690 | 177,633 | ||
Intangible assets, net | 85,338 | 77,531 | ||
Investments in subsidiaries | 8,868,335 | 8,231,059 | ||
Intercompany receivables | 3,723,454 | 3,983,214 | ||
Other long-term assets and investments | 70,309 | 61,391 | ||
Total assets | 14,004,674 | 13,160,926 | ||
Current liabilities | 180,977 | 328,875 | ||
Long-term debt and other long-term liabilities | 8,124,863 | 7,948,390 | ||
Noncontrolling interests subject to put provisions | 528,321 | 451,182 | ||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 5,170,513 | 4,432,479 | ||
Total equity | 5,170,513 | 4,432,479 | ||
Total liabilities and equity | 14,004,674 | 13,160,926 | ||
Guarantor Subsidiaries | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 77,921 | 175,004 | 166,107 | |
Accounts receivable, net | 915,851 | 939,543 | ||
Other current assets | 930,093 | 904,852 | ||
Total current assets | 1,923,865 | 2,019,399 | ||
Property and equipment, net | 1,473,188 | 1,378,017 | ||
Intangible assets, net | 1,811,218 | 1,882,685 | ||
Investments in subsidiaries | 1,561,195 | 1,391,655 | ||
Other long-term assets and investments | 60,385 | 70,728 | ||
Goodwill | 7,958,221 | 7,850,910 | ||
Total assets | 14,788,072 | 14,593,394 | ||
Current liabilities | 1,493,243 | 1,776,419 | ||
Intercompany payables | 3,105,173 | 3,426,433 | ||
Long-term debt and other long-term liabilities | 1,321,321 | 1,159,483 | ||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 8,868,335 | 8,231,059 | ||
Total equity | 8,868,335 | 8,231,059 | ||
Total liabilities and equity | 14,788,072 | 14,593,394 | ||
Non-Guarantor Subsidiaries | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 188,444 | 169,057 | 172,604 | 28,476 |
Accounts receivable, net | 609,998 | 545,620 | ||
Other current assets | 92,942 | 108,104 | ||
Total current assets | 891,384 | 822,781 | ||
Property and equipment, net | 800,221 | 633,761 | ||
Intangible assets, net | 52,942 | 64,157 | ||
Intercompany receivables | 564,241 | 480,993 | ||
Other long-term assets and investments | 101,332 | 67,722 | ||
Goodwill | 1,457,074 | 1,362,064 | ||
Total assets | 3,867,194 | 3,431,478 | ||
Current liabilities | 414,432 | 356,755 | ||
Intercompany payables | 1,182,522 | 1,037,774 | ||
Long-term debt and other long-term liabilities | 217,603 | 226,114 | ||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 1,561,195 | 1,391,655 | ||
Noncontrolling interests not subject to put provisions | 491,442 | 419,180 | ||
Total equity | 2,052,637 | 1,810,835 | ||
Total liabilities and equity | 3,867,194 | 3,431,478 | ||
Consolidating Adjustments | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Investments in subsidiaries | -10,429,530 | -9,622,714 | ||
Intercompany receivables | -4,287,695 | -4,464,207 | ||
Total assets | -14,717,225 | -14,086,921 | ||
Intercompany payables | -4,287,695 | -4,464,207 | ||
Noncontrolling interests subject to put provisions | 301,644 | 246,118 | ||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | -10,429,530 | -9,622,714 | ||
Noncontrolling interests not subject to put provisions | -301,644 | -246,118 | ||
Total equity | -10,731,174 | -9,868,832 | ||
Total liabilities and equity | ($14,717,225) | ($14,086,921) |
Consolidating_Statements_of_Ca
Consolidating Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $863,330 | $757,201 | $641,237 |
Changes in operating assets and liabilities and non cash items included in net income | 596,077 | 1,016,140 | 459,611 |
Net cash provided by operating activities | 1,459,407 | 1,773,341 | 1,100,848 |
Cash flows from investing activities: | |||
Additions of property and equipment, net | -641,330 | -617,597 | -550,146 |
Acquisitions | -272,094 | -310,394 | -4,294,077 |
Proceeds from asset sales | 8,791 | 62,258 | 3,559 |
Purchase of investments and other items | -373,096 | -11,149 | 8,214 |
Net cash used in investing activities | -1,277,729 | -876,882 | -4,832,450 |
Cash flows from financing activities: | |||
Long-term debt and related financing costs, net | -7,989 | -438,007 | 3,904,893 |
Other items | -156,990 | -44,984 | -32,509 |
Net cash (used in) provided by financing activities | -164,979 | -482,991 | 3,872,384 |
Effect of exchange rate changes on cash | 2,293 | -967 | -786 |
Net increase (decrease) in cash and cash equivalents | 18,992 | 412,501 | 139,996 |
Cash and cash equivalents at beginning of the year | 946,249 | 533,748 | 393,752 |
Cash and cash equivalents at end of the year | 965,241 | 946,249 | 533,748 |
DaVita HealthCare Partners Inc. | |||
Cash flows from operating activities: | |||
Net income | 723,114 | 633,446 | 536,017 |
Changes in operating assets and liabilities and non cash items included in net income | -597,992 | -443,071 | -383,619 |
Net cash provided by operating activities | 125,122 | 190,375 | 152,398 |
Cash flows from investing activities: | |||
Additions of property and equipment, net | -51,374 | -55,252 | -72,125 |
Acquisitions | -3,645,760 | ||
Proceeds from asset sales | 60,650 | ||
Purchase of investments and other items | -333,803 | -4,944 | 2,841 |
Net cash used in investing activities | -385,177 | 454 | -3,715,044 |
Cash flows from financing activities: | |||
Long-term debt and related financing costs, net | 4,513 | -421,739 | 3,909,760 |
Intercompany borrowing | 410,437 | 585,441 | -586,050 |
Other items | -58,207 | 52,620 | 68,697 |
Net cash (used in) provided by financing activities | 356,743 | 216,322 | 3,392,407 |
Net increase (decrease) in cash and cash equivalents | 96,688 | 407,151 | -170,239 |
Cash and cash equivalents at beginning of the year | 602,188 | 195,037 | 365,276 |
Cash and cash equivalents at end of the year | 698,876 | 602,188 | 195,037 |
Guarantor Subsidiaries | |||
Cash flows from operating activities: | |||
Net income | 647,085 | 522,778 | 487,077 |
Changes in operating assets and liabilities and non cash items included in net income | 120,772 | 652,374 | 15,693 |
Net cash provided by operating activities | 767,857 | 1,175,152 | 502,770 |
Cash flows from investing activities: | |||
Additions of property and equipment, net | -312,191 | -337,042 | -305,885 |
Acquisitions | -228,569 | -156,830 | -564,499 |
Proceeds from asset sales | 8,791 | 1,608 | 3,559 |
Purchase of investments and other items | -316 | -3,502 | -1,761 |
Net cash used in investing activities | -532,285 | -495,766 | -868,586 |
Cash flows from financing activities: | |||
Long-term debt and related financing costs, net | -12,545 | -11,061 | -23,805 |
Intercompany borrowing | -306,011 | -664,154 | 580,825 |
Other items | -14,099 | 4,726 | -25,097 |
Net cash (used in) provided by financing activities | -332,655 | -670,489 | 531,923 |
Net increase (decrease) in cash and cash equivalents | -97,083 | 8,897 | 166,107 |
Cash and cash equivalents at beginning of the year | 175,004 | 166,107 | |
Cash and cash equivalents at end of the year | 77,921 | 175,004 | 166,107 |
Non-Guarantor Subsidiaries | |||
Cash flows from operating activities: | |||
Net income | 475,907 | 397,259 | 323,195 |
Changes in operating assets and liabilities and non cash items included in net income | 90,521 | 10,555 | 122,485 |
Net cash provided by operating activities | 566,428 | 407,814 | 445,680 |
Cash flows from investing activities: | |||
Additions of property and equipment, net | -277,765 | -225,303 | -172,136 |
Acquisitions | -43,525 | -153,564 | -83,818 |
Purchase of investments and other items | -38,977 | -2,703 | 7,134 |
Net cash used in investing activities | -360,267 | -381,570 | -248,820 |
Cash flows from financing activities: | |||
Long-term debt and related financing costs, net | 43 | -5,207 | 18,938 |
Intercompany borrowing | -104,426 | 78,713 | 5,225 |
Other items | -84,684 | -102,330 | -76,109 |
Net cash (used in) provided by financing activities | -189,067 | -28,824 | -51,946 |
Effect of exchange rate changes on cash | 2,293 | -967 | -786 |
Net increase (decrease) in cash and cash equivalents | 19,387 | -3,547 | 144,128 |
Cash and cash equivalents at beginning of the year | 169,057 | 172,604 | 28,476 |
Cash and cash equivalents at end of the year | 188,444 | 169,057 | 172,604 |
Consolidating Adjustments | |||
Cash flows from operating activities: | |||
Net income | -982,776 | -796,282 | -705,052 |
Changes in operating assets and liabilities and non cash items included in net income | $982,776 | $796,282 | $705,052 |
Supplemental_Data_Condensed_Co
Supplemental Data - Condensed Consolidating Statements of Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||
Patient service revenues | $3,328,017 | $3,251,824 | $3,172,489 | $3,042,776 | $3,063,209 | $2,999,586 | $2,871,673 | $2,829,582 | $8,868,338 | $8,307,195 | $7,351,902 | |||
Less: Provision for uncollectible accounts | -366,884 | -293,546 | -235,218 | |||||||||||
Net patient service revenues | 8,501,454 | 8,013,649 | 7,116,684 | |||||||||||
Capitated revenues | 3,261,288 | 2,987,315 | 481,336 | |||||||||||
Other revenues | 1,032,364 | 763,086 | 588,260 | |||||||||||
Total net revenues | 12,795,106 | 11,764,050 | 8,186,280 | |||||||||||
Operating expenses and charges | 10,979,965 | 10,213,916 | 6,889,196 | |||||||||||
Operating income | 452,085 | 437,536 | 484,295 | 441,225 | 484,179 | 377,074 | 522,020 | 166,861 | 1,815,141 | 1,550,134 | 1,297,084 | |||
Debt (expense) and refinancing charges | -507,842 | -429,943 | -299,517 | |||||||||||
Other income, net | 2,374 | 4,787 | 3,737 | |||||||||||
Income tax expense | 446,343 | 381,013 | 359,845 | |||||||||||
Income from continuing operations | 863,330 | 743,965 | 641,459 | |||||||||||
Discontinued operations | 13,236 | 13,236 | -222 | |||||||||||
Net income | 863,330 | 757,201 | 641,237 | |||||||||||
Less: Net income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 | |||||||||||
Net income | 208,020 | 184,122 | 147,683 | 183,289 | 212,278 | 136,628 | 254,376 | 30,164 | 723,114 | 633,446 | 536,017 | |||
Physician Groups | ||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||
Patient service revenues | 121,929 | 122,873 | 20,052 | |||||||||||
Less: Provision for uncollectible accounts | -8,534 | -6,602 | -686 | |||||||||||
Net patient service revenues | 113,395 | 116,271 | 19,366 | |||||||||||
Capitated revenues | 1,511,000 | 1,560,244 | 248,592 | |||||||||||
Other revenues | 6,630 | 5,239 | 487 | |||||||||||
Total net revenues | 1,631,025 | 1,681,754 | 268,445 | |||||||||||
Operating expenses and charges | 1,601,027 | 1,659,151 | 268,205 | |||||||||||
Operating income | 29,998 | 22,603 | 240 | |||||||||||
Debt (expense) and refinancing charges | -11,113 | -14,605 | -1,386 | |||||||||||
Other income, net | 238 | 6 | 54 | |||||||||||
Income tax expense | 1,866 | 3,523 | ||||||||||||
Income from continuing operations | 4,481 | -1,092 | ||||||||||||
Net income | 17,257 | 4,481 | -1,092 | |||||||||||
Net income | 17,257 | 4,481 | -1,092 | |||||||||||
Unrestricted Subsidiaries | ||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||
Operating expenses and charges | 514 | 457 | -1,372 | |||||||||||
Operating income | -514 | -457 | 1,372 | |||||||||||
Income tax expense | -206 | -183 | 549 | |||||||||||
Income from continuing operations | -274 | 823 | ||||||||||||
Net income | -308 | -274 | 823 | |||||||||||
Net income | -308 | -274 | 823 | |||||||||||
Company and Restricted Subsidiaries | ||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||
Patient service revenues | 8,746,409 | [1] | 8,184,322 | [1] | 7,331,850 | [1] | ||||||||
Less: Provision for uncollectible accounts | -358,350 | [1] | -286,944 | [1] | -234,532 | [1] | ||||||||
Net patient service revenues | 8,388,059 | [1] | 7,897,378 | [1] | 7,097,318 | [1] | ||||||||
Capitated revenues | 1,750,288 | [1] | 1,427,071 | [1] | 232,744 | [1] | ||||||||
Other revenues | 1,025,734 | [1] | 757,847 | [1] | 587,773 | [1] | ||||||||
Total net revenues | 11,164,081 | [1] | 10,082,296 | [1] | 7,917,835 | [1] | ||||||||
Operating expenses and charges | 9,378,424 | [1] | 8,554,308 | [1] | 6,622,363 | [1] | ||||||||
Operating income | 1,785,657 | [1] | 1,527,988 | [1] | 1,295,472 | [1] | ||||||||
Debt (expense) and refinancing charges | -496,729 | [1] | -415,338 | [1] | -298,131 | [1] | ||||||||
Other income, net | 2,136 | [1] | 4,781 | [1] | 3,683 | [1] | ||||||||
Income tax expense | 444,683 | [1] | 377,673 | [1] | 359,296 | [1] | ||||||||
Income from continuing operations | 739,758 | [1] | 641,728 | [1] | ||||||||||
Discontinued operations | 13,236 | [1] | -222 | [1] | ||||||||||
Net income | 846,381 | [1] | 752,994 | [1] | 641,506 | [1] | ||||||||
Less: Net income attributable to noncontrolling interests | -140,216 | [1] | -123,755 | [1] | -105,220 | [1] | ||||||||
Net income | $706,165 | [1] | $629,239 | [1] | $536,286 | [1] | ||||||||
[1] | After the elimination of the unrestricted subsidiaries and the physician groups |
Supplemental_Data_Condensed_Co1
Supplemental Data - Condensed Consolidating Statements of Comprehensive Income (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net income (losses) | $863,330 | $757,201 | $641,237 | |||
Other comprehensive income (losses) | -22,372 | 12,652 | 4,187 | |||
Total comprehensive income (losses) | 840,958 | 769,853 | 645,424 | |||
Less: Comprehensive income attributable to noncontrolling interests | -140,216 | -123,755 | -105,220 | |||
Comprehensive income attributable to DaVita HealthCare Partners Inc. | 700,742 | 646,098 | 540,204 | |||
Physician Groups | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net income (losses) | 17,257 | 4,481 | -1,092 | |||
Total comprehensive income (losses) | 17,257 | 4,481 | -1,092 | |||
Comprehensive income attributable to DaVita HealthCare Partners Inc. | 17,257 | 4,481 | -1,092 | |||
Unrestricted Subsidiaries | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net income (losses) | -308 | -274 | 823 | |||
Total comprehensive income (losses) | -308 | -274 | 823 | |||
Comprehensive income attributable to DaVita HealthCare Partners Inc. | -308 | -274 | 823 | |||
Company and Restricted Subsidiaries | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Net income (losses) | 846,381 | [1] | 752,994 | [1] | 641,506 | [1] |
Other comprehensive income (losses) | -22,372 | [1] | 12,652 | [1] | 4,187 | [1] |
Total comprehensive income (losses) | 824,009 | [1] | 765,646 | [1] | 645,693 | [1] |
Less: Comprehensive income attributable to noncontrolling interests | -140,216 | [1] | -123,755 | [1] | -105,220 | [1] |
Comprehensive income attributable to DaVita HealthCare Partners Inc. | $683,793 | [1] | $641,891 | [1] | $540,473 | [1] |
[1] | After the elimination of the unrestricted subsidiaries and the physician groups |
Supplemental_Data_Condensed_Co2
Supplemental Data - Condensed Consolidating Balance Sheets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
In Thousands, unless otherwise specified | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Cash and cash equivalents | $965,241 | $946,249 | $533,748 | $393,752 | ||||
Accounts receivable, net | 1,525,849 | 1,485,163 | ||||||
Other current assets | 1,385,707 | 1,040,866 | ||||||
Total current assets | 3,876,797 | 3,472,278 | ||||||
Property and equipment, net | 2,469,099 | 2,189,411 | ||||||
Amortizable intangibles, net | 1,949,498 | 2,024,373 | ||||||
Other long-term assets | 232,026 | 199,841 | ||||||
Goodwill | 9,415,295 | 9,212,974 | 8,952,750 | |||||
Total assets | 17,942,715 | 17,098,877 | ||||||
Current liabilities | 2,088,652 | 2,462,049 | ||||||
Long-term debt and other long-term liabilities | 9,663,787 | 9,333,987 | ||||||
Noncontrolling interests subject to put provisions | 829,965 | 697,300 | ||||||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 5,170,513 | 4,432,479 | ||||||
Noncontrolling interests not subject to put provisions | 189,798 | 173,062 | ||||||
Total equity | 5,360,311 | 4,605,541 | ||||||
Total liabilities and equity | 17,942,715 | 17,098,877 | ||||||
Physician Groups | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Cash and cash equivalents | 112,448 | 127,309 | 132,362 | |||||
Accounts receivable, net | 255,953 | 235,463 | ||||||
Other current assets | 18,450 | 35,640 | ||||||
Total current assets | 386,851 | 398,412 | ||||||
Property and equipment, net | 2,406 | 5,541 | ||||||
Amortizable intangibles, net | 6,239 | 7,283 | ||||||
Other long-term assets | 66,087 | 64,013 | ||||||
Goodwill | 9,181 | 8,981 | ||||||
Total assets | 470,764 | 484,230 | ||||||
Current liabilities | 213,609 | 193,079 | ||||||
Payables to parent | 178,371 | 194,958 | ||||||
Long-term debt and other long-term liabilities | 61,895 | 94,727 | ||||||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 16,889 | 1,466 | ||||||
Total equity | 16,889 | 1,466 | ||||||
Total liabilities and equity | 470,764 | 484,230 | ||||||
Unrestricted Subsidiaries | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Other long-term assets | 2,811 | 3,325 | ||||||
Total assets | 2,811 | 3,325 | ||||||
Payables to parent | 2,811 | 3,325 | ||||||
Total liabilities and equity | 2,811 | 3,325 | ||||||
Company and Restricted Subsidiaries | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Cash and cash equivalents | 852,793 | [1] | 818,940 | [1] | 401,386 | [1] | 393,752 | [1] |
Accounts receivable, net | 1,269,896 | [1] | 1,249,700 | [1] | ||||
Other current assets | 1,367,257 | [1] | 1,005,226 | [1] | ||||
Total current assets | 3,489,946 | [1] | 3,073,866 | [1] | ||||
Property and equipment, net | 2,466,693 | [1] | 2,183,870 | [1] | ||||
Amortizable intangibles, net | 1,943,259 | [1] | 2,017,090 | [1] | ||||
Other long-term assets | 163,128 | [1] | 132,503 | [1] | ||||
Goodwill | 9,406,114 | [1] | 9,203,993 | [1] | ||||
Total assets | 17,469,140 | [1] | 16,611,322 | [1] | ||||
Current liabilities | 1,875,043 | [1] | 2,268,970 | [1] | ||||
Payables to parent | -181,182 | [1] | -198,283 | [1] | ||||
Long-term debt and other long-term liabilities | 9,601,892 | [1] | 9,239,260 | [1] | ||||
Noncontrolling interests subject to put provisions | 829,965 | [1] | 697,300 | [1] | ||||
Total DaVita HealthCare Partners Inc. shareholdersb' equity | 5,153,624 | [1] | 4,431,013 | [1] | ||||
Noncontrolling interests not subject to put provisions | 189,798 | [1] | 173,062 | [1] | ||||
Total equity | 5,343,422 | [1] | 4,604,075 | [1] | ||||
Total liabilities and equity | $17,469,140 | [1] | $16,611,322 | [1] | ||||
[1] | After the elimination of the unrestricted subsidiaries and the physician groups |
Supplemental_Data_Condensed_Co3
Supplemental Data - Condensed Consolidating Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Cash flows from operating activities: | ||||||
Net income | $863,330 | $757,201 | $641,237 | |||
Changes in operating and intercompany assets and liabilities and non cash items included in net income | 596,077 | 1,016,140 | 459,611 | |||
Net cash provided by operating activities | 1,459,407 | 1,773,341 | 1,100,848 | |||
Cash flows from investing activities: | ||||||
Additions of property and equipment | -641,330 | -617,597 | -550,146 | |||
Acquisitions and divestitures, net | -272,094 | -310,394 | -4,294,077 | |||
Proceeds from asset sales | 8,791 | 62,258 | 3,559 | |||
Investments and other items | -373,096 | -11,149 | 8,214 | |||
Net cash used in investing activities | -1,277,729 | -876,882 | -4,832,450 | |||
Proceeds from discontinued operations | 62,258 | 3,559 | ||||
Cash flows from financing activities: | ||||||
Long-term debt and related financing costs, net | -7,989 | -438,007 | 3,904,893 | |||
Other items | -156,990 | -44,984 | -32,509 | |||
Net cash (used in) provided by financing activities | -164,979 | -482,991 | 3,872,384 | |||
Effect of exchange rate changes on cash | 2,293 | -967 | -786 | |||
Net increase in cash and cash equivalents | 18,992 | 412,501 | 139,996 | |||
Cash and cash equivalents at beginning of the year | 946,249 | 533,748 | 393,752 | |||
Cash and cash equivalents at end of the year | 965,241 | 946,249 | 533,748 | |||
Physician Groups | ||||||
Cash flows from operating activities: | ||||||
Net income | 17,257 | 4,481 | -1,092 | |||
Changes in operating and intercompany assets and liabilities and non cash items included in net income | 1,048 | 4,343 | -26,549 | |||
Net cash provided by operating activities | 18,305 | 8,824 | -27,641 | |||
Cash flows from investing activities: | ||||||
Additions of property and equipment | 2,058 | -2,262 | -4,794 | |||
Investments and other items | -16,745 | |||||
Net cash used in investing activities | -14,687 | -2,262 | -4,794 | |||
Cash flows from financing activities: | ||||||
Intercompany borrowing | -18,479 | -11,615 | 164,797 | |||
Net cash (used in) provided by financing activities | -18,479 | -11,615 | 164,797 | |||
Net increase in cash and cash equivalents | -14,861 | -5,053 | 132,362 | |||
Cash and cash equivalents at beginning of the year | 127,309 | 132,362 | ||||
Cash and cash equivalents at end of the year | 112,448 | 127,309 | 132,362 | |||
Unrestricted Subsidiaries | ||||||
Cash flows from operating activities: | ||||||
Net income | -308 | -274 | 823 | |||
Changes in operating and intercompany assets and liabilities and non cash items included in net income | 308 | 274 | -823 | |||
Company and Restricted Subsidiaries | ||||||
Cash flows from operating activities: | ||||||
Net income | 846,381 | [1] | 752,994 | [1] | 641,506 | [1] |
Changes in operating and intercompany assets and liabilities and non cash items included in net income | 594,721 | [1] | 1,011,523 | [1] | 486,983 | [1] |
Net cash provided by operating activities | 1,441,102 | [1] | 1,764,517 | [1] | 1,128,489 | [1] |
Cash flows from investing activities: | ||||||
Additions of property and equipment | -643,388 | [1] | -615,335 | [1] | -545,352 | [1] |
Acquisitions and divestitures, net | -272,094 | [1] | -310,394 | [1] | -4,294,077 | [1] |
Proceeds from asset sales | 8,791 | [1] | ||||
Investments and other items | -356,351 | [1] | -11,149 | [1] | 8,214 | [1] |
Net cash used in investing activities | -1,263,042 | [1] | -874,620 | [1] | -4,827,656 | [1] |
Proceeds from discontinued operations | 62,258 | [1] | 3,559 | [1] | ||
Cash flows from financing activities: | ||||||
Long-term debt and related financing costs, net | -7,989 | [1] | -438,007 | [1] | 3,904,893 | [1] |
Intercompany borrowing | 18,479 | [1] | 11,615 | [1] | -164,797 | [1] |
Other items | -156,990 | [1] | -44,984 | [1] | -32,509 | [1] |
Net cash (used in) provided by financing activities | -146,500 | [1] | -471,376 | [1] | 3,707,587 | [1] |
Effect of exchange rate changes on cash | 2,293 | [1] | -967 | [1] | -786 | [1] |
Net increase in cash and cash equivalents | 33,853 | [1] | 417,554 | [1] | 7,634 | [1] |
Cash and cash equivalents at beginning of the year | 818,940 | [1] | 401,386 | [1] | 393,752 | [1] |
Cash and cash equivalents at end of the year | $852,793 | [1] | $818,940 | [1] | $401,386 | [1] |
[1] | After the elimination of the unrestricted subsidiaries and the physician groups |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts (Detail) (Allowance for uncollectible Accounts, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for uncollectible Accounts | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of year | $237,143 | $245,122 | $250,343 |
Acquisitions | 7,752 | ||
Amounts charged to income | 381,337 | 298,711 | 243,377 |
Amounts written off | 375,806 | 306,690 | 256,350 |
Balance at end of year | $242,674 | $237,143 | $245,122 |