Dialysis Patient Service Revenues (USD, thousands)

Other Revenues (USD, thousands)

Total Revenues (USD, thousands)

Patient Care Costs (USD, thousands)

General and Administrative Expenses (USD, thousands)

Depreciation and Amortization (USD, thousands)

Equity Investment Income, Net (USD, thousands)

Gain on Changes in Ownership Interests (USD, thousands)

Total Operating Expenses (USD, thousands)

Operating Income (USD, thousands)

Debt Expense (USD, thousands)

Debt Prepayment, Extinguishment and Modification Costs (USD, thousands)

Other Loss, Net (USD, thousands)

Income from Continuing Operations Before Income Taxes (USD, thousands)

Income Tax Expense (USD, thousands)

Net Income from Continuing Operations (USD, thousands)

Net Income from Discontinued Operations, Net of Tax (USD, thousands)

Net Income (USD, thousands)

Less: Net Income Attributable to Noncontrolling Interests (USD, thousands)

Net Income Attributable to DaVita Inc. (USD, thousands)

Basic Net Income from Continuing Operations (USD per share)

Basic Net Income (USD per share)

Diluted Net Income from Continuing Operations (USD per share)

Diluted Net Income (USD per share)

Weighted Average Shares for EPS: Basic Shares (thousands)

Weighted Average Shares for EPS: Diluted Shares (thousands)

Amounts Attributable to DaVita Inc.: Net Income from Continuing Operations (USD, thousands)

Amounts Attributable to DaVita Inc.: Net Income from Discontinued Operations (USD, thousands)

Amounts Attributable to DaVita Inc.: Net Income Attributable to DaVita Inc. (USD, thousands)

49daaae3f6bc1fadd43b927f7fd47a371eb3cba2a60673aac7d6e0a4e916764f

The surge in **cash and cash equivalents** in Q3 2024 was mainly driven by the **net cash provided by operating activities, which generated USD 1,474,411 thousand** over the nine months ending September 30, 2024. This strong operating performance more than offset the **USD 523,455 thousand** used in investing activities, the **USD 251,834 thousand** used in financing activities, and a **USD 5,112 thousand** negative impact from exchange rate changes.  **[0000927066-24-000179_dva-20240930.htm:45]** **[20241029LA43171:7]** 

What drove the surge in Cash and cash equivalents in Q3 2024?

In Q2 2024, the current portion of long-term debt increased significantly because it included **$393 million** from the **Change Healthcare Temporary Funding Assistance Program**, which is interest-free and subject to repayment within **45 business days** from a mutually agreed future date, in addition to regularly scheduled principal payments under the senior secured credit facilities.  **[20240806LA77898:8]** **[0000927066-24-000128_dva-20240630.htm:11]** **[20240806LA77898:2]** **[0000927066-24-000128_dva-20240630.htm:14]** 

Why is the current portion of long-term debt significantly higher in Q2 2024?

The **increase in long-term debt in Q3 2024** was primarily driven by several factors: the **issuance of new debt**, including **$1.0 billion of 6.875% senior notes due 2032** and an **incremental Term Loan A-1 tranche of $1.1 billion**  **[0000927066-24-000179_dva-20240930.htm:42]** **[0000927066-24-000179_dva-20240930.htm:10]** **[0000927066-24-000177_dva-93024ex991.htm:0]** , the use of some of these funds to **repay approximately $950 million of the Term Loan B-1 maturing in 2026** along with the balance on the revolving line of credit  **[0000927066-24-000177_dva-93024ex991.htm:0]** , and the **extension of a portion of Term Loan B-1 into an Extended Term Loan B-1 with a principal of $1.64 billion maturing in 2031**.  **[0000927066-24-000179_dva-20240930.htm:11]** **[0000927066-24-000179_dva-20240930.htm:10]** 

What caused the increase in Long-term debt in Q3 2024?

The **low Total Equity** in Q4 2024 is primarily due to a combination of factors. **Treasury Stock Purchases** played a major role, as DaVita repurchased **9.8 million shares** at an average price of **$140.06 per share** in 2024, creating an immediate reduction in equity. Additionally, there was a significant increase in the **Accumulated Other Comprehensive Loss** (from **$(52,084) thousand** to **$(310,796) thousand**), which further eroded total equity. Although **Retained Earnings** increased thanks to net income, it was not sufficient to offset the negative impacts of the treasury stock repurchases and the accumulated losses. Finally, a decline in **Additional Paid-in Capital** also contributed to the reduced Total Equity, ultimately bringing it down from **$1,244,062 thousand** in Q4 2023 to **$395,868 thousand** in Q4 2024.  **[0000927066-25-000012_dva-20241231.htm:156]** **[0000927066-25-000009_dva-123124ex991.htm:9]** **[0000927066-25-000009_dva-123124ex991.htm:0]** **[0000927066-25-000012_dva-20241231.htm:204]** **[0000927066-25-000009_dva-123124ex991.htm:11]** 

Why is Total equity so low in Q4 2024?

1b8bce73f9a205aa0f0b7b4af97639be9f3997fcc65197add1e11ffe32cd7ee8

DaVita’s operating cash flow turned negative in Q1 2024 mainly because of a **CHC Outage Impact** that reduced cash collections—affecting billing and leading to increased patient accounts receivable and Days Sales Outstanding—and **working capital changes**, specifically decreases in other working capital items, which together outweighed the partial offset from improved operating results.  **[0000927066-24-000090_dva-20240331.htm:42]** **[0000927066-24-000089_dva-33124ex991.htm:10]** 

Why did Operating Cash Flow turn negative in Q1 2024?

According to the documents, Q2 2024 did not see a surge in Operating Cash Flow but rather a significant decline compared to Q2 2023. This change was primarily driven by the **CHC outage**, which disrupted claims submission and increased patient accounts receivable and days sales outstanding, by **increased cash taxes paid**, and by unfavorable changes in working capital—particularly a large increase in accounts receivable. These factors collectively contributed to the decrease in net cash provided by operating activities, although improved operating results partially offset these adverse effects.  **[0000927066-24-000128_dva-20240630.htm:47]** **[0000927066-24-000128_dva-20240630.htm:3]** **[0000927066-24-000126_dva-63024ex991.htm:9]** 

What factors drove the surge in Operating Cash Flow in Q2 2024?

The available documents do not provide any information or direct explanation regarding why Free Cash Flow plunged into negative territory in Q1 2024.  **[0000927066-23-000104_dva-20230331.htm:3]** **[0000927066-24-000090_dva-20240331.htm:3]** **[0000927066-24-000090_dva-20240331.htm:41]** 

Why did Free Cash Flow plunge into negative territory in Q1 2024?

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2fbb4a132b283fdb2a1c32386ac187aa97b82d239feea030863ed07cda95c271

Impairment Charges (USD, thousands)

Loss on Extinguishment of Debt (USD, thousands)

Stock-Based Compensation Expense (USD, thousands)

Deferred Income Taxes (USD, thousands)

Equity Investment Loss, Net (USD, thousands)

Other Non-Cash Losses and (Gains), Net (USD, thousands)

Income Taxes (Operating Activities) (USD, thousands)

Net Cash Provided by Operating Activities (USD, thousands)

Additions of Property and Equipment (USD, thousands)

Acquisitions (USD, thousands)

Proceeds from Asset and Business Sales (USD, thousands)

Purchase of Debt Investments Held-to-Maturity (USD, thousands)

Purchase of Other Debt and Equity Investments (USD, thousands)

Proceeds from Debt Investments Held-to-Maturity (USD, thousands)

Proceeds from Sale of Other Debt and Equity Investments (USD, thousands)

Purchase of Equity Method Investments (USD, thousands)

Distributions from Equity Method Investments (USD, thousands)

Net Cash Used in Investing Activities (USD, thousands)

Borrowings (USD, thousands)

Payments on Long-Term Debt (USD, thousands)

Deferred and Debt Related Financing Costs (USD, thousands)

Purchase of Treasury Stock (USD, thousands)

Distributions to Noncontrolling Interests (USD, thousands)

Net Proceeds from Issuance of Common Stock under Employee Stock Plans (USD, thousands)

Payment of Tax Withholdings on Net Share Settlements of Equity Awards (USD, thousands)

Contributions from Noncontrolling Interests (USD, thousands)

Proceeds from Sales of Additional Noncontrolling Interests (USD, thousands)

Purchases of Noncontrolling Interests (USD, thousands)

Net Cash Used in Financing Activities (USD, thousands)

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (USD, thousands)

Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (USD, thousands)

Accounts Receivable (USD, thousands)

Inventories (USD, thousands)

Other Current Assets (USD, thousands)

Other Long-Term Assets (USD, thousands)

Accounts Payable (USD, thousands)

Accrued Compensation and Benefits (USD, thousands)

Other Current Liabilities (USD, thousands)

Other Long-Term Liabilities (USD, thousands)

Cash, Cash Equivalents and Restricted Cash at Beginning of Year (USD, thousands)

Cash, Cash Equivalents and Restricted Cash at End of Year (USD, thousands)

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Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

9ec2e0171e8a043eaebf6fd00c028076e2d289b1bfdd8749a291f027bed2be53

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

SG&A [USD, Millions]

R&D [USD, Millions]

D&A [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

EPS - Basic [USD, Per Share]

EPS - Diluted [USD, Per Share]

7ec4487790cd27a65b6ec2a4f5761fe682abffb3bc0e4366cdf583bf291aafc6

Number of centers operated at end of period in U.S. (centers)

Number of centers operated at end of period in International (centers)

Dialysis treatments in the U.S. (treatments)

Average dialysis treatments per day in the U.S. (treatments per day)

Normalized non-acquired dialysis treatment growth in the U.S. (percentage)

Days sales outstanding for U.S. dialysis business (days)

Number of patients in risk-based integrated care arrangements (patients)

Number of patients in other integrated care arrangements (patients)

ffd4a1bfbd41a6e48c7cc9cace595c25c5eeb3e4736cb040bd7a10104ab4c5ee

U.S. Dialysis

Ancillary Services

- International

Other U.S. Revenues

Other International Revenues

Total International Revenues

Total Revenue

83b48bec552f83f0df4d8916720c62ec4a0799f08362bfcdd442ac6a57812909

d586460ae5cf362b94260c95ff63752849454a1771bbd5752e6d275902653bf0

DAVITA (DVA)

Financials