| 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
HealthCare
Partners Inc. |
|
|
Guarantor
Subsidiaries |
|
|
Non-
Guarantor
Subsidiaries |
|
|
Consolidating
Adjustments |
|
|
Consolidated
Total |
|
|
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
HealthCare
Partners Inc. |
|
|
Guarantor
Subsidiaries |
|
|
Non-
Guarantor
Subsidiaries |
|
|
Consolidating
Adjustments |
|
|
Consolidated
Total |
|
|
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
of discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
13,236 |
|
|
|
— |
|
|
|
13,236 |
|
|
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
HealthCare
Partners Inc. |
|
|
Guarantor
Subsidiaries |
|
|
Non-
Guarantor
Subsidiaries |
|
|
Consolidating
Adjustments |
|
|
Consolidated
Total |
|
|
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
noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(140,216 |
) |
|
|
(140,216 |
) |
|
Comprehensive income attributable to DaVita HealthCare
Partners Inc. |
|
$ |
723,694 |
|
|
$ |
647,085 |
|
|
$ |
452,955 |
|
|
$ |
(1,122,992 |
) |
|
$ |
700,742 |
|
|
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
noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(123,755 |
) |
|
|
(123,755 |
) |
|
Comprehensive income attributable to DaVita HealthCare
Partners Inc. |
|
$ |
648,314 |
|
|
$ |
522,778 |
|
|
$ |
395,043 |
|
|
$ |
(920,037 |
) |
|
$ |
646,098 |
|
|
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
noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(105,220 |
) |
|
|
(105,220 |
) |
|
Comprehensive income attributable to DaVita HealthCare
Partners Inc. |
|
$ |
541,409 |
|
|
$ |
487,077 |
|
|
$ |
321,990 |
|
|
$ |
(810,272 |
) |
|
$ |
540,204 |
|
Consolidating Balance Sheets
|
|
|
DaVita
HealthCare
Partners Inc. |
|
|
Guarantor
Subsidiaries |
|
|
Non-
Guarantor
Subsidiaries |
|
|
Consolidating
Adjustments |
|
|
Consolidated
Total |
|
|
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.
shareholders’' equity |
|
|
5,170,513 |
|
|
|
8,868,335 |
|
|
|
1,561,195 |
|
|
|
(10,429,530 |
) |
|
|
5,170,513 |
|
|
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.
shareholders’' equity |
|
|
4,432,479 |
|
|
|
8,231,059 |
|
|
|
1,391,655 |
|
|
|
(9,622,714 |
) |
|
|
4,432,479 |
|
|
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
HealthCare
Partners Inc. |
|
|
Guarantor
Subsidiaries |
|
|
Non-Guarantor
Subsidiaries |
|
|
Consolidating
Adjustments |
|
|
Consolidated
Total |
|
|
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
items included in net income |
|
|
(597,992 |
) |
|
|
120,772 |
|
|
|
90,521 |
|
|
|
982,776 |
|
|
|
596,077 |
|
|
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
items included in net income |
|
|
(443,071 |
) |
|
|
652,374 |
|
|
|
10,555 |
|
|
|
796,282 |
|
|
|
1,016,140 |
|
|
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
HealthCare
Partners Inc. |
|
|
Guarantor
Subsidiaries |
|
|
Non-Guarantor
Subsidiaries |
|
|
Consolidating
Adjustments |
|
|
Consolidated
Total |
|
|
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
items included in net income |
|
|
(383,619 |
) |
|
|
15,693 |
|
|
|
122,485 |
|
|
|
705,052 |
|
|
|
459,611 |
|
|
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 |
|
|