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Acquisitions and divestitures | 6 Months Ended
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Jun. 30, 2022
Business Combinations [Abstract] |
Acquisitions and divestitures | Acquisitions and divestitures Routine acquisitions During the six months ended June 30, 2022, the Company acquired dialysis businesses consisting of five dialysis centers located outside the U.S. for total net cash of $9,491, contingent earn-out obligations of $523 and deferred purchase price and liabilities assumed of $5,784. The assets and liabilities for these acquisitions were recorded at their estimated fair values at the dates of the acquisitions and are included in the Company’s condensed consolidated financial statements, as are their operating results, from the designated effective dates of the acquisitions. The initial purchase price allocations have been recorded at estimated fair values based on information available to management and will be finalized when certain information arranged to be obtained has been received. In particular, certain income tax amounts are pending final evaluation and quantification of any pre-acquisition tax contingencies. In addition, valuation of intangibles, leases and certain other working capital items relating to these acquisitions are pending final quantification. The amount of goodwill recognized or adjusted during the six months ended June 30, 2022 that is deductible for tax purposes was $(1,145). Contingent earn-out obligations The Company has several contingent earn-out obligations associated with acquisitions that could result in the Company paying the former owners of acquired businesses a total of up to approximately $64,846 if certain performance targets or quality margins are met over the next one year to five years. Contingent earn-out obligations are remeasured to fair value at each reporting date until the contingencies are resolved with changes in the liability due to the remeasurement recognized in earnings. As of June 30, 2022, the Company estimated the fair value of these contingent earn-out obligations to be $29,299, of which $10,047 is included in other current liabilities and the remaining $19,252 is included in other long-term liabilities in the Company’s consolidated balance sheet. The following is a reconciliation of changes in contingent earn-out obligations:
| Three months ended June 30, 2022 |  | Six months ended June 30, 2022
Beginning balance | $ | 34,193 |  |  | $ | 33,600 |
Acquisitions | 278 |  |  | 523 |
Foreign currency translation | (2,104) |  |  | 1,144 |
Fair value remeasurements | (2,799) |  |  | (2,779) |
Payments | (269) |  |  | (3,189) |
Ending balance | $ | 29,299 |  |  | $ | 29,299 |

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 + Details
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