2019 Q4 Form 10-K Financial Statement

#000092706620000014 Filed on February 21, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018 Q3
Revenue $2.899B $2.821B $2.847B
YoY Change 2.75% 1.45% 2.97%
Cost Of Revenue $2.001B $2.027B $2.064B
YoY Change -1.31% 4.4% 5.75%
Gross Profit $898.0M $794.1M $783.6M
YoY Change 13.08% -5.37% -3.68%
Gross Profit Margin 30.98% 28.15% 27.52%
Selling, General & Admin $278.4M $268.5M $337.1M
YoY Change 3.69% 3.35% 24.76%
% of Gross Profit 31.0% 33.81% 43.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $158.5M $155.1M $146.0M
YoY Change 2.19% -15.71% -28.18%
% of Gross Profit 17.65% 19.53% 18.63%
Operating Expenses $436.9M $423.7M $483.1M
YoY Change 3.12% 4.85% 17.0%
Operating Profit $462.6M $387.9M $289.0M
YoY Change 19.25% 158.03% -26.88%
Interest Expense -$90.60M -$138.9M -$129.7M
YoY Change -34.77% 23.8% 13.18%
% of Operating Profit -19.59% -35.81% -44.87%
Other Income/Expense, Net $11.50M -$500.0K $4.007M
YoY Change -2400.0% -109.09% 17.99%
Pretax Income $382.0M $259.1M $167.1M
YoY Change 47.43% 453.34% -42.25%
Income Tax $81.70M $51.70M $52.05M
% Of Pretax Income 21.39% 19.95% 31.14%
Net Earnings $244.9M -$149.8M -$136.8M
YoY Change -263.5% -149.37% -36.22%
Net Earnings / Revenue 8.45% -5.31% -4.8%
Basic Earnings Per Share $1.89 -$0.90 -$0.82
Diluted Earnings Per Share $1.88 -$0.90 -$0.82
COMMON SHARES
Basic Shares Outstanding 129.7M shares 166.0M shares 166.8M shares
Diluted Shares Outstanding 167.3M shares

Balance Sheet

Concept 2019 Q4 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.150B $361.4M $488.0M
YoY Change 218.34% -37.56% -55.78%
Cash & Equivalents $1.102B $323.0M $448.2M
Short-Term Investments $48.09M $38.36M $39.78M
Other Short-Term Assets $173.0M $5.594B $6.129B
YoY Change -96.91% 4892.06% 2886.68%
Inventory $97.95M $107.4M $91.10M
Prepaid Expenses $108.3M
Receivables $1.796B $1.859B $1.847B
Other Receivables $489.7M $469.8M $383.8M
Total Short-Term Assets $3.690B $8.424B $8.930B
YoY Change -56.2% -3.95% 121.38%
LONG-TERM ASSETS
Property, Plant & Equipment $3.473B $3.394B $3.276B
YoY Change 2.35% 7.76% -3.26%
Goodwill $6.788B $6.842B $6.703B
YoY Change -0.79% 3.5% -28.82%
Intangibles $135.7M $118.8M $97.61M
YoY Change 14.17% 4.41% -93.27%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $116.0M $71.58M $76.52M
YoY Change 62.01% 51.38% 24.13%
Total Long-Term Assets $13.62B $10.69B $10.43B
YoY Change 27.47% 4.73% -30.38%
TOTAL ASSETS
Total Short-Term Assets $3.690B $8.424B $8.930B
Total Long-Term Assets $13.62B $10.69B $10.43B
Total Assets $17.31B $19.11B $19.36B
YoY Change -9.41% 0.72% 1.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $403.8M $463.3M $458.9M
YoY Change -12.83% -9.01% -19.05%
Accrued Expenses $1.039B $659.0M $632.0M
YoY Change 57.66% 6.98% -18.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $131.0M $1.929B $1.784B
YoY Change -93.21% 983.71% 838.95%
Total Short-Term Liabilities $2.372B $4.891B $4.855B
YoY Change -51.5% 59.45% 68.89%
LONG-TERM LIABILITIES
Long-Term Debt $7.978B $8.173B $8.441B
YoY Change -2.39% -10.76% -5.25%
Other Long-Term Liabilities $160.8M $450.7M $452.4M
YoY Change -64.32% 23.36% -17.47%
Total Long-Term Liabilities $160.8M $450.7M $452.4M
YoY Change -64.32% 23.36% -17.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.372B $4.891B $4.855B
Total Long-Term Liabilities $160.8M $450.7M $452.4M
Total Liabilities $13.81B $14.08B $14.26B
YoY Change -1.89% 7.65% 9.58%
SHAREHOLDERS EQUITY
Retained Earnings $1.432B $2.743B $3.951B
YoY Change -47.81% -24.51% -2.93%
Common Stock $749.2M $995.2M $1.056B
YoY Change -24.72% -4.59% -0.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00 $1.154B
YoY Change 230.71%
Treasury Stock Shares
Shareholders Equity $2.133B $3.703B $3.825B
YoY Change
Total Liabilities & Shareholders Equity $17.31B $19.11B $19.36B
YoY Change -9.41% 0.72% 1.81%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $244.9M -$149.8M -$136.8M
YoY Change -263.5% -149.37% -36.22%
Depreciation, Depletion And Amortization $158.5M $155.1M $146.0M
YoY Change 2.19% -15.71% -28.18%
Cash From Operating Activities $680.6M $419.1M $417.0M
YoY Change 62.4% -12.81% -17.13%
INVESTING ACTIVITIES
Capital Expenditures -$219.3M -$281.4M $231.7M
YoY Change -22.07% 5.99% -3.82%
Acquisitions
YoY Change
Other Investing Activities $80.70M -$62.80M -$5.600M
YoY Change -228.5% -1112.9% -56.92%
Cash From Investing Activities -$138.7M -$344.3M -$237.2M
YoY Change -59.72% 32.83% -6.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -692.7M -202.1M -117.4M
YoY Change 242.75% -14.55% -28.68%
NET CHANGE
Cash From Operating Activities 680.6M 419.1M 417.0M
Cash From Investing Activities -138.7M -344.3M -237.2M
Cash From Financing Activities -692.7M -202.1M -117.4M
Net Change In Cash -150.8M -127.3M 62.40M
YoY Change 18.46% 748.67% -26.33%
FREE CASH FLOW
Cash From Operating Activities $680.6M $419.1M $417.0M
Capital Expenditures -$219.3M -$281.4M $231.7M
Free Cash Flow $899.9M $700.5M $185.3M
YoY Change 28.47% -6.12% -29.35%

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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1760000 USD
CY2018 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-3350000 USD
CY2017 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
254000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
369485000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
137293000 USD
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-217569000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
415420000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
518920000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
683463000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1208718000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
415420000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
518920000 USD
CY2019 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
706832000 USD
CY2018 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
624321000 USD
CY2017 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
901277000 USD
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
104149000 USD
CY2018 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-464927000 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-237659000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
810981000 USD
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:12px;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates</span></div><div style="line-height:120%;padding-top:12px;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The most significant assumptions and estimates underlying these consolidated financial statements and accompanying notes involve revenue recognition and accounts receivable, contingencies, impairments of goodwill and investments, accounting for income taxes and certain fair value estimates. Specific estimating risks and contingencies are further addressed within these notes to the consolidated financial statements.</span></div>
CY2019Q4 dva Number Of Entities That Third Parties Held Non Controlling Equity Interests
NumberOfEntitiesThatThirdPartiesHeldNonControllingEquityInterests
672 entity
CY2019 us-gaap Revenues
Revenues
11388479000 USD
CY2018 us-gaap Revenues
Revenues
11404851000 USD
CY2017 us-gaap Revenues
Revenues
10876634000 USD
CY2017 dva Provision For Expected Credit Losses
ProvisionForExpectedCreditLosses
485364000 USD
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.68
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-1.26
CY2018 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-2.73
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.29
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.52
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
153181000 shares
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
171886000 shares
CY2018 us-gaap Net Income Loss
NetIncomeLoss
159394000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
663618000 USD
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
153181000 shares
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
171886000 shares
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
190820000 shares
CY2019 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
0 shares
CY2018 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
1100000 shares
CY2017 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
2194000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
153181000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170786000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
188626000 shares
CY2019 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
4.61
CY2018 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.66
CY2017 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
4.78
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
190820000 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
631000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
479000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
529000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153812000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172365000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
191349000 shares
CY2019 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
4.60
CY2018 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.62
CY2017 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
4.71
CY2019 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.67
CY2018 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-2.70
CY2017 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-1.24
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.27
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.92
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.47
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5936000 shares
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5295000 shares
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4350000 shares
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
106346000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
92382000 USD
CY2019Q4 us-gaap Assets Held In Trust Current
AssetsHeldInTrustCurrent
91847000 USD
CY2019Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
8140000 USD
CY2019Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
39951000 USD
CY2019Q4 us-gaap Marketable Securities
MarketableSecurities
48091000 USD
CY2018Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
2235000 USD
CY2018Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
36124000 USD
CY2018Q4 us-gaap Marketable Securities
MarketableSecurities
38359000 USD
CY2019Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
8140000 USD
CY2019Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
11572000 USD
CY2018Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
2235000 USD
CY2018Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
2935000 USD
CY2019Q4 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
0 USD
CY2019Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
36519000 USD
CY2018Q4 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
0 USD
CY2018Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
35424000 USD
CY2019Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
8140000 USD
CY2019Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
39951000 USD
CY2019Q4 us-gaap Marketable Securities
MarketableSecurities
48091000 USD
CY2018Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
2235000 USD
CY2018Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
36124000 USD
CY2018Q4 us-gaap Marketable Securities
MarketableSecurities
38359000 USD
CY2019Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
489695000 USD
CY2018Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
469796000 USD
CY2019Q4 us-gaap Land
Land
36480000 USD
CY2018Q4 us-gaap Land
Land
37384000 USD
CY2019Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
392256000 USD
CY2018Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
467181000 USD
CY2019Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
3545224000 USD
CY2018Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
3164943000 USD
CY2019Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
2880645000 USD
CY2018Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
2586564000 USD
CY2019Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
588345000 USD
CY2018Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
661695000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7442950000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6917767000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3969566000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3524098000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3473384000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3393669000 USD
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600905000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
574799000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
544129000 USD
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
27322000 USD
CY2018 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
25978000 USD
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
19176000 USD
CY2019Q4 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
103510000 USD
CY2018Q4 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
107726000 USD
CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
90209000 USD
CY2018Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
59885000 USD
CY2019Q4 us-gaap Other Indefinite Lived Intangible Assets
OtherIndefiniteLivedIntangibleAssets
23887000 USD
CY2018Q4 us-gaap Other Indefinite Lived Intangible Assets
OtherIndefiniteLivedIntangibleAssets
31801000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
217606000 USD
CY2018Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
199412000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
81922000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
80566000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
135684000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
118846000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14247000 USD
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16236000 USD
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15782000 USD
CY2018 dva Amortization Of Intangible Assets And Liabilities Net
AmortizationOfIntangibleAssetsAndLiabilitiesNet
296000 USD
CY2017 dva Amortization Of Intangible Assets And Liabilities Net
AmortizationOfIntangibleAssetsAndLiabilitiesNet
203000 USD
CY2019 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2018Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
5930000 USD
CY2018Q4 dva Intangible Lease Liabilities Accumulated Amortization
IntangibleLeaseLiabilitiesAccumulatedAmortization
4362000 USD
CY2019Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
241983000 USD
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
224611000 USD
CY2019Q4 dva Number Of Partnerships
NumberOfPartnerships
20
CY2019 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 USD
CY2017Q4 us-gaap Goodwill
Goodwill
6610279000 USD
CY2018 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
278348000 USD
CY2018 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
15497000 USD
CY2018 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
3106000 USD
CY2018 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-28064000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
6841960000 USD
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
90226000 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
124892000 USD
CY2019 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-19659000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
6787635000 USD
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
6940970000 USD
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
153335000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
6787635000 USD
CY2019 us-gaap Goodwill Subsequent Recognition Of Deferred Tax Asset
GoodwillSubsequentRecognitionOfDeferredTaxAsset
26634000 USD
CY2019 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
98258000 USD
CY2019 dva Percentage Change In Operating Income Used To Evaluate Fair Value Of Reporting Unit For Goodwill Assessment
PercentageChangeInOperatingIncomeUsedToEvaluateFairValueOfReportingUnitForGoodwillAssessment
0.03
CY2019Q4 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
377044000 USD
CY2018Q4 us-gaap Customer Advances And Deposits Current
CustomerAdvancesAndDepositsCurrent
302244000 USD
CY2019Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
58941000 USD
CY2018Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
58569000 USD
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
54899000 USD
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
82827000 USD
CY2019Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
36285000 USD
CY2018Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
28663000 USD
CY2019Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
229005000 USD
CY2018Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
123547000 USD
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
756174000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
595850000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-25836000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
21096000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1307299000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1083578000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1725822000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-111860000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-35100000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-326036000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1195439000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1048478000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1399786000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
208339000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
140064000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
330191000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
58026000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
32990000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
47228000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
15545000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
7557000 USD
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3422000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
281910000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
180611000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
380841000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
44263000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
52034000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-98760000 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
37347000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-20709000 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
4659000 USD
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
4431000 USD
CY2019 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-2282000 USD
CY2018 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
77789000 USD
CY2017 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-56982000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
279628000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
258400000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
323859000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
279628000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
258400000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
323859000 USD
CY2019 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
40689000 USD
CY2018 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
99768000 USD
CY2017 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
-364856000 USD
CY2019 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
320317000 USD
CY2018 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
358168000 USD
CY2017 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
-40997000 USD
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Contingencies<div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">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.</span></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company operates in a highly regulated industry and is a party to various lawsuits, demands, claims, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">qui tam</span><span style="font-family:inherit;font-size:10pt;"> suits, governmental investigations and audits (including, without limitation, investigations or other actions resulting from its obligation to self-report suspected violations of law) and other legal proceedings. The Company records accruals for certain legal proceedings and regulatory matters to the extent that the Company determines an unfavorable outcome is probable and the amount of the loss can be reasonably estimated. As of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">, the Company’s total recorded accruals with respect to legal proceedings and regulatory matters, net of anticipated third party recoveries, were immaterial. While these accruals reflect the Company’s best estimate of the probable loss for those matters as of the dates of those accruals, the recorded amounts may differ materially from the actual amount of the losses for those matters, and any anticipated third party recoveries for any such losses may not ultimately be recoverable. Additionally, in some cases, no estimate of the possible loss or range of loss in excess of amounts accrued, if any, can be made because of the inherently unpredictable nature of legal proceedings and regulatory matters, which also may be impacted by various factors, including, without limitation, that they may involve indeterminate claims for monetary damages or may involve fines, penalties or non-monetary remedies; present novel legal theories or legal uncertainties; involve disputed facts; represent a shift in regulatory policy; are in the early stages of the proceedings; or may result in a change of business practices. Further, there may be various levels of judicial review available to the Company in connection with any such proceeding.</span></div><div style="line-height:120%;padding-top:12px;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following is a description of certain lawsuits, claims, governmental investigations and audits and other legal proceedings to which the Company is subject.</span></div><div style="line-height:120%;padding-top:12px;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Governmental Inquiries and Certain Related Proceedings</span></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">2016 U.S. Attorney Texas Investigation</span><span style="font-family:inherit;font-size:10pt;">: In February 2016, DaVita Rx, LLC (DaVita Rx), a wholly-owned subsidiary of the Company, received a Civil Investigative Demand (CID) from the U.S. Attorney’s Office, Northern District of Texas. The </span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">government is conducting a federal False Claims Act (FCA) investigation concerning allegations that DaVita Rx presented or caused to be presented false claims for payment to the government for prescription medications, as well as an investigation into the Company’s relationships with pharmaceutical manufacturers. The CID covers the period from January 1, 2006 through the present. In connection with the Company’s ongoing efforts working with the government, the Company learned that a </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">qui tam</span><span style="font-family:inherit;font-size:10pt;"> complaint had been filed covering some of the issues in the CID and practices that had been identified by the Company in a self-disclosure filed with the Office of Inspector General (OIG) for the U.S. Department of Health and Human Services (HHS) in February 2016. In December 2017, the Company finalized and executed a settlement agreement with the government and relators in the </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">qui tam</span><span style="font-family:inherit;font-size:10pt;"> matter that included total monetary consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$63,700</span></span><span style="font-family:inherit;font-size:10pt;">, as previously disclosed, of which </span><span style="font-family:inherit;font-size:10pt;"><span>$41,500</span></span><span style="font-family:inherit;font-size:10pt;"> was an incremental cash payment and </span><span style="font-family:inherit;font-size:10pt;"><span>$22,200</span></span><span style="font-family:inherit;font-size:10pt;"> was for amounts previously refunded, and all of which was previously accrued. The government’s investigation into certain of the Company's relationships with pharmaceutical manufacturers is ongoing, and in July 2018 the OIG served the Company with a subpoena seeking additional documents and information relating to those relationships. The Company is continuing to cooperate with the government in this investigation.</span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">2017 U.S. Attorney Massachusetts Investigation</span><span style="font-family:inherit;font-size:10pt;">: In January 2017, the Company was served with an administrative subpoena for records by the U.S. Attorney’s Office, District of Massachusetts, relating to an investigation into possible federal health care offenses. The subpoena covered the period from January 1, 2007 to the present, and sought documents relevant to charitable patient assistance organizations, particularly the American Kidney Fund, including documents related to efforts to provide patients with information concerning the availability of charitable assistance. The Department of Justice notified the court on July 23, 2019 of its decision to elect not to intervene in the matter of </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">U.S. ex rel. David Gonzalez v. DaVita Healthcare Partners, et al</span><span style="font-family:inherit;font-size:10pt;">. The complaint then was unsealed in the U.S. District Court, District of Massachusetts by order entered on August 1, 2019. The Department of Justice has confirmed that the complaint, which alleges violations of the FCA and various state false claims acts, was the basis of its investigation initiated in January 2017. The Company has not been served with the complaint.</span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">2017 U.S. Attorney Colorado Investigation</span><span style="font-family:inherit;font-size:10pt;">: In November 2017, the U.S. Attorney’s Office, District of Colorado informed the Company of an investigation it was conducting into possible federal healthcare offenses involving DaVita Kidney Care, as well as several of the Company’s wholly-owned subsidiaries. In addition to DaVita Kidney Care, the matter currently includes an investigation into DaVita Rx, DaVita Laboratory Services, Inc. (DaVita Labs), and RMS Lifeline Inc. (Lifeline). In each of August 2018 and May 2019, the Company received a CID pursuant to the FCA from the U.S. Attorney's Office relating to this investigation. The Company is continuing to cooperate with the government in this investigation. </span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">2018 U.S. Attorney Florida Investigation</span><span style="font-family:inherit;font-size:10pt;">: In March 2018, DaVita Labs received two CIDs from the U.S. Attorney’s Office, Middle District of Florida that were identical in nature but directed to the two different labs. According to the face of the CIDs, the U.S. Attorney’s Office is conducting an investigation as to whether the Company’s subsidiary submitted claims for blood, urine, and fecal testing, where there were insufficient test validation or stability studies to ensure accurate results, in violation of the FCA. In October 2018, DaVita Labs received a subpoena from the OIG in connection with this matter requesting certain patient records linked to clinical laboratory tests. On September 30, 2019, the U.S. Attorney's Office notified the U.S. District Court, Middle District of Florida, of its decision not to elect to intervene at this time in the matter of </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">U.S. ex rel. Lorne Holland, et al. v. DaVita Healthcare Partners, Inc. et al</span><span style="font-family:inherit;font-size:10pt;">. The court then unsealed the complaint, which alleges violations of the FCA, by order dated the same day. In January 2020, the private party relators served the Company and DaVita Labs with an amended complaint. The Company and DaVita Labs dispute these allegations and intend to defend this action accordingly.</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">* * *</span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Although the Company cannot predict whether or when proceedings might be initiated or when these matters may be resolved (other than as may be described above), 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 and to develop over the course of time. In addition to the inquiries and proceedings specifically identified above, the Company frequently is subject to other inquiries by state or federal government agencies and/or private civil </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">qui tam</span><span style="font-family:inherit;font-size:10pt;"> complaints filed by relators. Negative findings or terms and conditions that the Company might agree to accept as part of a negotiated resolution of pending or future government inquiries or relator proceedings could result in, among other things, substantial financial penalties or awards against the Company, substantial payments made by the Company, harm to the Company’s reputation, required changes to the Company’s business practices, exclusion from future participation in the Medicare, Medicaid and other federal health care programs and, if criminal proceedings were initiated against the Company, members of its board of directors or management, possible criminal penalties, any of which could have a material adverse effect on the Company.</span></div><div style="line-height:120%;padding-top:12px;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Shareholder and Derivative Claims</span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Peace Officers’ Annuity and Benefit Fund of Georgia Securities Class Action Civil Suit</span><span style="font-family:inherit;font-size:10pt;">: On February 1, 2017, the Peace Officers’ Annuity and Benefit Fund of Georgia filed a putative federal securities class action complaint in the U.S. District Court for the District of Colorado against the Company and certain executives. The complaint covers the time period of August 2015 to October 2016 and alleges, generally, that the Company and its executives violated</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">federal securities laws concerning the Company’s financial results and revenue derived from patients who received charitable premium assistance from an industry-funded non-profit organization. The complaint further alleges that the process by which patients obtained commercial insurance and received charitable premium assistance was improper and "created a false impression of DaVita’s business and operational status and future growth prospects." In November 2017, the court appointed the lead plaintiff and an amended complaint was filed on January 12, 2018. On March 27, 2018, the Company and various individual defendants filed a motion to dismiss. On March 28, 2019, the U.S. District Court for the District of Colorado denied the motion to dismiss. The Company answered the complaint on May 28, 2019. The Company disputes these allegations and intends to defend this action accordingly.</span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">In re DaVita Inc. Stockholder Derivative Litigation</span><span style="font-family:inherit;font-size:10pt;">: On August 15, 2017, the U.S. District Court for the District of Delaware consolidated three previously disclosed shareholder derivative lawsuits: the Blackburn Shareholder action filed on February 10, 2017, the Gabilondo Shareholder action filed on May 30, 2017, and the City of Warren Police and Fire Retirement System Shareholder action filed on June 9, 2017. The complaint covers the time period from 2015 to present and alleges, generally, breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, corporate waste, and misrepresentations and/or failures to disclose certain information in violation of the federal securities laws in connection with an alleged practice to direct patients with government-subsidized health insurance into private health insurance plans to maximize the Company’s profits. An amended complaint was filed in September 2017, and on December 18, 2017, the Company filed a motion to dismiss and a motion to stay proceedings in the alternative. On April 25, 2019, the court denied the Company's motion to dismiss. The Company answered the complaint on May 28, 2019. On January 31, 2020, the plaintiffs filed a motion for class certification that the Company intends to oppose. The Company disputes these allegations and intends to defend this action accordingly.</span></div><div style="line-height:120%;padding-top:12px;text-align:left;padding-left:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Other Proceedings</span></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition to the foregoing, from time to time the Company is subject to other lawsuits, demands, claims, governmental investigations and audits and legal proceedings that arise due to the nature of its business, including, without limitation, contractual disputes, such as with payors, suppliers and others, employee-related matters and professional and general liability claims. From time to time, the Company also initiates litigation or other legal proceedings as a plaintiff arising out of contracts or other matters.</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">* * *</span></div><div style="line-height:120%;padding-top:12px;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other than as may be described above, the Company cannot predict the ultimate outcomes of the various legal proceedings and regulatory matters to which the Company is or may be subject from time to time, including those described in this Note </span><span style="font-family:inherit;font-size:10pt;">16</span><span style="font-family:inherit;font-size:10pt;"> to these consolidated financial statements, or the timing of their resolution or the ultimate losses or impact of developments in those matters, which could have a material adverse effect on the Company’s revenues, earnings and cash flows. Further, any legal proceedings or regulatory matters involving the Company, whether meritorious or not, are time consuming, and often require management’s attention and result in significant legal expense, and may result in the diversion of significant operational resources, or otherwise harm the Company’s business, results of operations, financial condition, cash flows or reputation.</span></div>
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