Davita Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Davita Inc. has submitted its quarterly 10-Q filing for the period ending March 31, 2024, detailing financial information and corporate history.</b>

AI Summary

DAVITA INC. (DVA) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Davita Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's principal executive offices are located at 2000 16th Street, Denver, CO 80202. Davita Inc. was formerly known as Davita Healthcare Partners Inc. and Total Renal Care Holdings Inc. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and December 31, 2022.

Why It Matters

For investors and stakeholders tracking DAVITA INC., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and position of Davita Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's ongoing operational health, financial stability, and future prospects in the healthcare services sector.

Risk Assessment

Risk Level: medium — DAVITA INC. shows moderate risk based on this filing. The company's business is subject to extensive government regulation and reimbursement policies, which can change and impact financial results. The filing does not provide specific details on recent regulatory changes but the nature of the industry implies ongoing risk.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to understand Davita's current financial health and potential challenges in the dialysis services market.

Key Numbers

• 2024-03-31 — Period of Report (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Reporting Period Start Date)
• 2023-01-01 — Prior Year Quarter Start Date (Prior Year Reporting Period Start Date)

Key Players & Entities

• DAVITA INC. (company) — FILER
• 2000 16TH STREET (company) — BUSINESS ADDRESS
• DENVER (company) — BUSINESS ADDRESS CITY
• CO (company) — BUSINESS ADDRESS STATE
• 80202 (company) — BUSINESS ADDRESS ZIP
• DAVITA HEALTHCARE PARTNERS INC. (company) — FORMER COMPANY
• TOTAL RENAL CARE HOLDINGS INC (company) — FORMER COMPANY
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT

FAQ

Risk Factors

• Government Regulation and Reimbursement [high — regulatory]: The company's operations are subject to extensive government regulation and reimbursement policies, which can change and affect financial results.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Key Financial Figures

• $0.001 — nge on which registered: Common Stock, $0.001 par value DVA NYSE Indicate by check

Filing Documents

• dva-20240331.htm (10-Q) — 1542KB
• ex101-2024formpsuawardagre.htm (EX-10.1) — 96KB
• ex102-2024formrsuawardagre.htm (EX-10.2) — 87KB
• ex103-2024formssarawardagr.htm (EX-10.3) — 94KB
• dva-33124ex31110xq.htm (EX-31.1) — 9KB
• dva-33124ex31210xq.htm (EX-31.2) — 9KB
• dva-33124ex32110xq.htm (EX-32.1) — 6KB
• dva-33124ex32210xq.htm (EX-32.2) — 5KB
• dva-20240331_g1.jpg (GRAPHIC) — 32KB
• 0000927066-24-000090.txt (&nbsp;) — 7853KB
• dva-20240331.xsd (EX-101.SCH) — 47KB
• dva-20240331_cal.xml (EX-101.CAL) — 78KB
• dva-20240331_def.xml (EX-101.DEF) — 260KB
• dva-20240331_lab.xml (EX-101.LAB) — 651KB
• dva-20240331_pre.xml (EX-101.PRE) — 462KB
• dva-20240331_htm.xml (XML) — 963KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements: Consolidated Statements of Income for the three months ended March 31, 2024 and March 31, 2023 1 Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and March 31, 2023 2 Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Consolidated Statements of Cash Flow for the three months ended March 31, 2024 and March 31, 2023 4 Consolidated Statements of Equity for the three months ended March 31, 2024 and March 31, 2023 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 38

Controls and Procedures

Item 4. Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 40

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 40

Other Information

Item 5. Other Information 40

Exhibits

Item 6. Exhibits 41 Signature 42 i DAVITA INC. CONSOLIDATED STATEMENTS OF INCOME (unaudited) (dollars and shares in thousands, except per share data) Three months ended March 31, Three months ended March 31, 2024 2023 Dialysis patient service revenues $ 2,941,532 $ 2,760,034 Other revenues 129,023 112,665 Total revenues 3,070,555 2,872,699 Operating expenses: Patient care costs 2,078,976 2,058,189 General and administrative 362,480 331,614 Depreciation and amortization 187,083 178,071 Equity investment income, net ( 6,682 ) ( 6,820 ) Gain on changes in ownership interest ( 35,147 ) — Total operating expenses 2,586,710 2,561,054 Operating income 483,845 311,645 Debt expense ( 99,418 ) ( 100,774 ) Other (loss) income, net ( 12,641 ) 3,752 Income before income taxes 371,786 214,623 Income tax expense 65,806 43,955 Net income 305,980 170,668 Less: Net income attributable to noncontrolling interests ( 66,331 ) ( 55,121 ) Net income attributable to DaVita Inc. $ 239,649 $ 115,547 Earnings per share attributable to DaVita Inc.: Basic net income $ 2.73 $ 1.28 Diluted net income $ 2.65 $ 1.25 Weighted average shares for earnings per share: Basic shares 87,775 90,497 Diluted shares 90,547 92,483 See notes to condensed consolidated financial statements. 1 DAVITA INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (dollars in thousands) Three months ended March 31, 2024 2023 Net income $ 305,980 $ 170,668 Other comprehensive (loss) income, net of tax: Unrealized gains (losses) on interest rate cap agreements: Unrealized gains (losses) 13,317 ( 3,539 ) Reclassifications of net realized gains into net income ( 21,628 ) ( 15,742 ) Unrealized (losses) gains on foreign currency translation: ( 39,720 ) 33,561 Other comprehensive (loss) income ( 48,031 ) 14,280 Total comprehensive income 257,949 184,948 Less: Comprehensive income attributable to noncontrolling interests ( 66,331 ) ( 55,121 ) Comprehensive i

View Full Filing

View this 10-Q filing on SEC EDGAR