DaVita Inc. Q3 2024 10-Q: Debt Maturities and Financials

TL;DR

DaVita's Q3 10-Q shows debt due through 2027, with rates up to 4.50%.

AI Summary

DaVita Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial information, including various debt instruments with maturity dates ranging from December 31, 2025, to December 31, 2027, and interest rates between 3.75% and 4.50%. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides insight into DaVita's debt structure and upcoming financial obligations, which are crucial for investors assessing the company's financial health and risk.

Risk Assessment

Risk Level: medium — The filing details significant debt obligations, which can pose a risk if the company's cash flow is insufficient to meet repayment schedules.

Key Numbers

• 3.75% — Minimum Interest Rate (On certain debt instruments)
• 4.50% — Maximum Interest Rate (On certain debt instruments)
• 2025-12-31 — Earliest Debt Maturity (For a significant portion of reported debt)
• 2027-12-31 — Latest Debt Maturity (For a significant portion of reported debt)

Key Players & Entities

• DAVITA INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241029 (date) — Filing Date
• 3.75% (dollar_amount) — Interest Rate on Debt
• 4.50% (dollar_amount) — Interest Rate on Debt
• December 31, 2025 (date) — Debt Maturity Date
• December 31, 2027 (date) — Debt Maturity Date

FAQ

Key Financial Figures

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

Filing Documents

• dva-20240930.htm (10-Q) — 1974KB
• dva-93024ex31110xq.htm (EX-31.1) — 9KB
• dva-93024ex31210xq.htm (EX-31.2) — 9KB
• dva-93024ex32110xq.htm (EX-32.1) — 6KB
• dva-93024ex32210xq.htm (EX-32.2) — 5KB
• dva-20240930_g1.jpg (GRAPHIC) — 32KB
• 0000927066-24-000179.txt ( ) — 9206KB
• dva-20240930.xsd (EX-101.SCH) — 53KB
• dva-20240930_cal.xml (EX-101.CAL) — 79KB
• dva-20240930_def.xml (EX-101.DEF) — 290KB
• dva-20240930_lab.xml (EX-101.LAB) — 729KB
• dva-20240930_pre.xml (EX-101.PRE) — 506KB
• dva-20240930_htm.xml (XML) — 1369KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements: Consolidated Statements of Income for the three and nine months ended September 30, 2024 and September 30, 2023 1 Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and September 30, 2023 2 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Consolidated Statements of Cash Flow for the nine months ended September 30, 2024 and September 30, 2023 4 Consolidated Statements of Equity for the three and nine months ended September 30, 2024 and September 30, 2023 5 Notes to Condensed Consolidated Financial Statements 7

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 24

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 43

Controls and Procedures

Item 4. Controls and Procedures 43

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 46 Signature 47 i DAVITA INC. CONSOLIDATED STATEMENTS OF INCOME (unaudited) (dollars and shares in thousands, except per share data) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Dialysis patient service revenues $ 3,138,561 $ 2,951,950 $ 9,141,195 $ 8,602,669 Other revenues 125,029 169,382 379,672 391,731 Total revenues 3,263,590 3,121,332 9,520,867 8,994,400 Operating expenses: Patient care costs 2,151,875 2,067,315 6,373,150 6,181,348 General and administrative 393,534 376,883 1,123,859 1,072,513 Depreciation and amortization 187,014 188,423 549,758 550,166 Equity investment income, net ( 3,711 ) ( 7,228 ) ( 15,874 ) ( 22,502 ) Gain on changes in ownership interest — — ( 35,147 ) — Total operating expenses 2,728,712 2,625,393 7,995,746 7,781,525 Operating income 534,878 495,939 1,525,121 1,212,875 Debt expense ( 134,583 ) ( 98,080 ) ( 331,748 ) ( 302,361 ) Debt prepayment, extinguishment and modification costs ( 10,081 ) — ( 19,813 ) ( 7,962 ) Other loss, net ( 16,780 ) ( 19,650 ) ( 56,900 ) ( 14,525 ) Income before income taxes 373,434 378,209 1,116,660 888,027 Income tax expense 77,674 68,848 215,168 161,621 Net income 295,760 309,361 901,492 726,406 Less: Net income attributable to noncontrolling interests ( 81,072 ) ( 62,729 ) ( 224,479 ) ( 185,536 ) Net income attributable to DaVita Inc. $ 214,688 $ 246,632 $ 677,013 $ 540,870 Earnings per share attributable to DaVita Inc.: Basic net income $ 2.56 $ 2.70 $ 7.86 $ 5.95 Diluted net income $ 2.50 $ 2.62 $ 7.66 $ 5.80 Weighted average shares for earnings per share: Basic shares 83,721 91,322 86,123 90,937 Diluted shares 85,795 94,041 88,422 93,317 See notes to condensed consolidated financial statements. 1 DAVITA INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (dollars in thousands) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net income $ 295,7

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View this 10-Q filing on SEC EDGAR