0000927066false00009270662023-11-072023-11-07

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 Form 8-K 

 CURRENT REPORT
 Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (date of earliest event reported): November 7, 2023  


 
DAVITA INC.
(Exact name of registrant as specified in its charter)
 

DE1-1410651-0354549
(State or other jurisdiction
of incorporation)		(Commission File Number)(IRS Employer
Identification No.)
 
2000 16th Street
Denver,CO80202
(Address of principal executive offices including Zip Code)
 
(720) 631-2100
(Registrant’s telephone number, including area code)
 
Not applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 240.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class: Trading symbol(s):Name of each exchange on which registered:
Common Stock, $0.001 par value DVANew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐    Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02. Results of Operations and Financial Condition.
 
On November 7, 2023, DaVita Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2023. A copy of the press release is furnished as Exhibit 99.1 to this report.
 
The information contained in this Item 2.02 (including Exhibit 99.1 attached hereto) is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
 
Item 9.01. Financial Statements and Exhibits.
 
(d) Exhibits.
 
Exhibit
Number		Description
Press Release dated November 7, 2023 announcing the registrant’s financial results for the quarter ended September 30, 2023.
104.0Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.



SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
DAVITA INC.
Date: November 7, 2023
By:/s/    Christopher M. Berry
Christopher M. Berry
Chief Accounting Officer






Contact:        Investor Relations                    
DaVita Inc.
ir@davita.com
DaVita Inc. 3rd Quarter 2023 Results
Denver, Colorado, November 7, 2023 — DaVita Inc. (NYSE: DVA) announced financial and operating results for the quarter ended September 30, 2023.

"We delivered another strong quarter," said Javier Rodriguez, CEO of DaVita Inc. "We began the year by making progress earlier than expected across many of our key operating priorities, and that momentum has continued into the third quarter. We have balanced a strong focus on near-term operating discipline, while continuing to invest in future growth. At the same time, we're creating a differentiated experience for our teammates, and delivering the highest standard of care for our patients."
Financial and operating highlights for the quarter ended September 30, 2023:
•Consolidated revenues were $3.1 billion.
•Operating income was $496 million and adjusted operating income was $525 million.
•Diluted earnings per share was $2.62 and adjusted diluted earnings per share was $2.85.
•Operating cash flow was $661 million and free cash flow was $453 million.
Three months endedNine months ended September 30,
September 30, 2023June 30, 202320232022
Net income attributable to DaVita Inc.:
(dollars in millions, except per share data)
Net income$247 $179 $541 $492 
Diluted per share$2.62 $1.91 $5.80 $5.07 
Adjusted net income(1)
$268 $194 $608 $530 
Adjusted diluted per share(1)
$2.85 $2.08 $6.51 $5.46 
(1)For definitions of non-GAAP financial measures, see the note titled "Note on Non-GAAP Financial Measures" and related reconciliations beginning on page 16.
Three months endedNine months ended September 30,
September 30, 2023June 30, 202320232022
AmountMarginAmountMarginAmountMarginAmountMargin
Operating income(dollars in millions)
Operating income$496 15.9 %$405 13.5 %$1,213 13.5 %$1,083 12.5 %
Adjusted operating income(1)(2)
$525 16.8 %$432 14.4 %$1,308 14.5 %$1,133 13.0 %
(1)For definitions of non-GAAP financial measures, see the note titled "Note on Non-GAAP Financial Measures" and related reconciliations beginning on page 16.
(2)Adjusted operating income margin is adjusted operating income divided by consolidated revenues.
1

U.S. dialysis metrics:
Volume: Total U.S. dialysis treatments for the third quarter of 2023 were 7,306,948, or an average of 92,493 treatments per day, representing a per day decrease of (0.2)% compared to the second quarter of 2023. Normalized non-acquired treatment growth in the third quarter of 2023 compared to the third quarter of 2022 was 0.5%.
 Three months endedQuarter
change		Nine months endedYear to date
change
 September 30,
2023		June 30,
2023		September 30,
2023		September 30,
2022
(dollars in millions, except per treatment data)
Revenue per treatment$380.33 $376.73 $3.60 $374.46 $364.89 $9.57 
Patient care costs per treatment$250.08 $252.57 $(2.49)$253.30 $251.88 $1.42 
General and administrative$281 $279 $2 $819 $755 $64 
Primary drivers of the changes in the table above were as follows:
Revenue: The quarter change was primarily due to favorable changes in commercial and Medicare Advantage (MA) mix, a net increase in average reimbursement rates and other normal fluctuations. Our U.S. dialysis average patient service revenue per treatment was negatively impacted by a decrease in hospital inpatient revenues. The year to date change was primarily driven by normal annual rate increases, favorable changes in commercial and MA mix and a net increase in Medicare rate due to a base rate increase in 2023, partially offset by the phased-in increase of sequestration of 1% in April 2022 and full 2% beginning July 1, 2022 and thereafter. Other drivers of this change include improved cash collections on previously reserved balances assumed to be uncollectible.
Patient care costs: The quarter change was primarily due to decreased minor equipment expense and utilities expense driven by our virtual power purchase arrangements. Other drivers of this change include decreases in pharmaceutical costs, professional fees, medical supplies expense, contract wages and travel costs. In addition, our fixed other direct operating expenses positively impacted patient care costs per treatment due to increased treatments in the third quarter of 2023. The quarter was also impacted by increased compensation expenses including increased wages and headcount, increased health benefit expense, as well as increased insurance costs. The year to date change was primarily due to increased compensation expenses including increased wage rates and headcount, as well as increases in professional fees, medical supplies expense, repairs and maintenance expense and travel costs. Other drivers of this change include increased utilities expense driven by our virtual power purchase arrangements and increased center closure costs, as described below. In addition, our fixed other direct operating expenses unfavorably impacted patient care costs per treatment due to decreased treatments in 2023. These increases were partially offset by decreased pharmaceutical costs and contract wages.
General and administrative: The quarter change was primarily due to increases in contributions to our charitable foundation, management meeting costs and IT-related costs. These increases were partially offset by decreased compensation expenses, center closure costs, as described below, and long-term incentive compensation. The year to date change was primarily due to increases in compensation expenses including increased wage rates and severance costs, as described below. Other drivers of this change include gains recognized on the sale of our self-developed properties in the second quarter of 2022, increased IT-related costs and travel costs as well as increases in contributions to our charitable foundation. These increases were partially offset by decreased advocacy costs and decreased professional fees.
Certain items impacting the quarter:

Integrated kidney care (IKC). IKC revenues for the third quarter of 2023 increased compared to the second quarter of 2023 due to a net increase in shared savings and increased revenues in our special needs plans.
Closure costs. During the third quarter of 2023, we continued the strategic review of our outpatient clinic capacity requirements and utilization, which have been impacted both by declines in our patient census in some markets due to the COVID-19 pandemic, as well as by our initiatives toward, and advances in, increasing the proportion of our home dialysis patients. This continuing review, begun in the third quarter of 2022, has resulted in higher than normal charges for center capacity closures over the last number of quarters. These capacity closure costs include net losses on assets retired, lease costs, asset impairments and accelerated depreciation and amortization.
During the three months ended and nine months ended September 30, 2023, we incurred charges for U.S. dialysis center closures of approximately $24.0 million and $67.3 million, respectively. For a breakdown of how these closure costs have impacted our income statement for respective periods, see Note 3 in our Non-GAAP reconciliations that follow.
2

Severance costs and other. During the fourth quarter of 2022, we committed to a plan to increase efficiencies and cost savings in certain general and administrative support functions. As a result of this plan, we recognized expenses related to termination and other benefit commitments. This plan included additional charges of $4.7 million during the third quarter of 2023 and $28.1 million during the nine months ended September 30, 2023.
Financial and operating metrics:
Three months ended
September 30,		Twelve months ended
September 30,
2023202220232022
Cash flow:(dollars in millions)
Operating cash flow$661 $711 $1,918 $1,751 
Free cash flow(1)
$453 $500 $1,054 $1,032 
(1)For definitions of non-GAAP financial measures, see the note titled "Note on Non-GAAP Financial Measures" and related reconciliations beginning on page 16.
Three months ended September 30, 2023Nine months ended
September 30, 2023
Effective income tax rate on:
Income18.2 %18.2 %
Income attributable to DaVita Inc.(1)
21.8 %22.9 %
Adjusted income attributable to DaVita Inc.(1)
22.1 %23.2 %
(1)For definitions of non-GAAP financial measures, see the note titled "Note on Non-GAAP Financial Measures" and related reconciliations beginning on page 16.
Center activity: As of September 30, 2023, we provided dialysis services to a total of approximately 249,100 patients at 3,053 outpatient dialysis centers, of which 2,694 centers were located in the United States and 359 centers were located in 11 countries outside of the United States. During the third quarter of 2023, we opened a total of five new dialysis centers and closed 15 dialysis centers in the United States. We also acquired two dialysis centers and opened four new dialysis centers outside of the United States during the third quarter of 2023.
IKC: As of September 30, 2023, we had approximately 59,000 patients in risk-based integrated care arrangements representing approximately $4.8 billion in annualized medical spend. We also had an additional 16,000 patients in other integrated care arrangements; we do not include the medical spend for these patients in this annualized medical spend estimate. For an additional description of these metrics, see Note 2: Integrated Care Metrics.
3

Outlook:
The following forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, including those described below, and actual results may vary materially from these forward-looking measures. For example, current macroeconomic and marketplace conditions, and global events continue to generate significant risk and uncertainty, and as a result, our future results could vary materially from the guidance provided below. We do not provide guidance for operating income or diluted net income per share attributable to DaVita Inc. on a basis consistent with United States generally accepted accounting principles (GAAP) nor a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because we are unable to predict certain items contained in the GAAP measures without unreasonable efforts. These non-GAAP financial measures do not include certain items, including capacity closure charges, severance costs and foreign currency fluctuations, which may be significant. The guidance for our effective income tax rate on adjusted income attributable to DaVita Inc. also excludes the amount of third-party owners' income and related taxes attributable to non-tax paying entities.
Current 2023 guidancePrior 2023 guidance
LowHighLowHigh
(dollars in millions, except per share data)
Adjusted operating income$1,650$1,725$1,565$1,675
Adjusted diluted net income per share attributable to DaVita Inc.$7.80$8.30$7.00$7.80
Free cash flow$950$1,150$850$1,100
We will be holding a conference call to discuss our results for the third quarter ended September 30, 2023, on November 7, 2023, at 5:00 p.m. Eastern Time. To join the conference call, please dial (877) 918-6630 from the U.S. or (517) 308-9042 from outside the U.S., and provide the operator the password "Earnings". This call is being webcast and can be accessed at the DaVita Investor Relations website investors.davita.com. A replay of the conference call will also be available at investors.davita.com for the following 30 days.
4

Forward looking statements
DaVita Inc. and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA), including statements in this release, filings with the Securities and Exchange Commission (SEC), reports to stockholders and in meetings with investors and analysts. All statements in this release, during the related presentation or other meetings, other than statements of historical fact, are forward-looking statements and as such are intended to be covered by the safe harbor for "forward-looking statements" provided by the PSLRA. These forward-looking statements could include, among other things, including statements about our balance sheet and liquidity, our expenses and expense offsets, revenues, billings and collections, availability or cost of supplies, treatment volumes, mix expectation, such as the percentage or number of patients under commercial insurance, DaVita's response to and the continuing impact of the coronavirus (COVID-19) pandemic, the continuing impact of the COVID-19 pandemic on the U.S. and global economies, labor market conditions, and overall impact on our patients and teammates, as well as other statements regarding our future operations, financial condition and prospects, expenses, strategic initiatives, government and commercial payment rates, expectations related to value-based care, integrated kidney care, and MA plan enrollment, expectations regarding increased competition and marketplace changes, including those related to new or potential entrants in the dialysis and pre-dialysis marketplace and potential impact of innovative technologies, drugs, or other treatments, and our ongoing stock repurchase program, and statements related to our guidance and expectations for future periods and the assumptions underlying any such projections. All statements in this release, other than statements of historical fact, are forward-looking statements. Without limiting the foregoing, statements including the words "expect," "intend," "will," "could," "plan," "anticipate," "believe," "forecast," "guidance," "outlook," "goals," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on DaVita's current expectations and are based solely on information available as of the date of this release. DaVita undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may be required by law. Actual future events and results could differ materially from any forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things:
•the current macroeconomic and marketplace conditions, and global events, many of which are interrelated and which relate to, among other things, inflation, rising interest rates, labor market conditions, wage pressure, evolving monetary policies, and the continuing impact of the COVID-19 pandemic on our patients, teammates, physician partners, suppliers, business, operations, reputation, financial condition and results of operations; further spread or resurgence of the virus, including as a result of the emergence of new strains of the virus; the continuing impact of the pandemic on our revenues and non-acquired growth due to lower treatment volumes; COVID-19's impact on the chronic kidney disease (CKD) population and our patient population including on the mortality of these patients; any potential negative impact on our commercial mix or the number of our patients covered by commercial insurance plans; the potential impact of new or potential entrants in the dialysis and pre-dialysis marketplace and potential impact of innovative technologies, drugs, or other treatments on our patients and industry; our ability to successfully implement cost savings initiatives; supply chain challenges and disruptions; and elevated teammate turnover and training costs and higher salary and wage expense, driven in part by persisting labor market conditions and a high demand for our clinical personnel, any of which may also have the effect of heightening many of the other risks and uncertainties discussed below, and in many cases, the impact of the pandemic and the aforementioned global economic conditions on our business may persist even as the pandemic continues to subside;
•the concentration of profits generated by higher-paying commercial payor plans for which there is continued downward pressure on average realized payment rates; a reduction in the number or percentage of our patients under such plans, including, without limitation, as a result of restrictions or prohibitions on the use and/or availability of charitable premium assistance, which may result in the loss of revenues or patients, as a result of our making incorrect assumptions about how our patients will respond to any change in financial assistance from charitable organizations, or as a result of payors' implementing restrictive plan designs, including, without limitation, actions taken in response to the U.S. Supreme Court’s decision in Marietta Memorial Hospital Employee Health Benefit Plan, et al. v. DaVita Inc. et al. (Marietta); how and whether regulators and legislators will respond to the Marietta decision including, without limitation, whether they will issue regulatory guidance or adopt new legislation; how courts will interpret other anti-discriminatory provisions that may apply to restrictive plan designs; whether there could be other potential negative impacts of the Marietta decision; and the timing of each of these items;
•the extent to which the ongoing implementation of healthcare reform, or changes in or new legislation, regulations or guidance, enforcement thereof or related litigation result in a reduction in coverage or reimbursement rates for our services, a reduction in the number of patients enrolled in or that select higher-paying commercial plans, including for example MA plans or other material impacts to our business or operations; or our making incorrect assumptions about how our patients will respond to any such developments;
•risks arising from potential changes in laws, regulations or requirements applicable to us, such as potential and proposed federal and/or state legislation, regulation, ballot, executive action or other initiatives, including, without limitation, those related to healthcare, antitrust matters, including, among others, restrictive covenants, and/or labor matters;
5

•our ability to attract, retain and motivate teammates and our ability to manage operating cost increases or productivity decreases whether due to union organizing activities, which continue to increase in the dialysis industry, legislative or other changes, demand for labor, volatility and uncertainty in the labor market, the current challenging and highly competitive labor market conditions, or other reasons;
•Our ability to respond to challenging U.S. and global economic and marketplace conditions, including among other things our ability to successfully identify cost savings opportunities and to implement cost savings initiatives such as ongoing initiatives that increase our use of third-party service providers to perform certain activities, initiatives that relate to clinic optimization and capacity utilization improvement, and procurement opportunities, among other things;
•our ability to successfully implement our strategies with respect to integrated kidney care and value-based care initiatives and home based dialysis in the desired time frame and in a complex, dynamic and highly regulated environment, including, among other things, maintaining our existing business; meeting growth expectations; recovering our investments; entering into agreements with payors, third party vendors and others on terms that are competitive and, as appropriate, prove actuarially sound; structuring operations, agreements and arrangements to comply with evolving rules and regulations; finding, training and retaining appropriate staff; and further developing our integrated care and other capabilities to provide competitive programs at scale;
•a reduction in government payment rates under the Medicare End Stage Renal Disease program, state Medicaid or other government-based programs and the impact of the Medicare Advantage benchmark structure;
•noncompliance by us or our business associates with any privacy or security laws or any security breach by us or a third party involving the misappropriation, loss or other unauthorized use or disclosure of confidential information;
•legal and compliance risks, such as our continued compliance with complex, and at times, evolving government regulations and requirements;
•the impact of the political environment and related developments on the current healthcare marketplace and on our business, including with respect to the Affordable Care Act, the exchanges and many other core aspects of the current healthcare marketplace, as well as the composition of the U.S. Supreme Court and the current presidential administration and congressional majority;
•changes in pharmaceutical practice patterns, reimbursement and payment policies and processes, or pharmaceutical pricing, including with respect to hypoxia inducible factors, among other things;
•our ability to develop and maintain relationships with physicians and hospitals, changing affiliation models for physicians, and the emergence of new models of care or other initiatives introduced by the government or private sector that, among other things, may erode our patient base and impact reimbursement rates;
•our ability to complete acquisitions, mergers, dispositions, joint ventures or other strategic transactions that we might announce or be considering, on terms favorable to us or at all, to successfully integrate any acquired businesses, to successfully operate any acquired businesses, joint ventures or other strategic transactions, or to successfully expand our operations and services in markets outside the United States, or to businesses or products outside of dialysis services;
•continued increased competition from dialysis providers and others, and other potential marketplace changes, including without limitation increased investment in and availability of funding to new entrants in the dialysis and pre-dialysis marketplace;
•the variability of our cash flows, including without limitation, any extended billing or collections cycles; the risk that we may not be able to generate or access sufficient cash in the future to service our indebtedness or to fund our other liquidity needs; and the risk that we may not be able to refinance our indebtedness as it becomes due, on terms favorable to us or at all;
•factors that may impact our ability to repurchase stock under our stock repurchase program and the timing of any such stock repurchases, as well as our use of a considerable amount of available funds to repurchase stock;
•risks arising from the use of accounting estimates, judgments and interpretations in our financial statements;
•impairment of our goodwill, investments or other assets;
•our aspirations, goals and disclosures related to environmental, social and governance (ESG) matters, including, among other things, evolving regulatory requirements affecting ESG standards, measurements and reporting requirements; the availability of suppliers that can meet our sustainability standards; and our ability to recruit, develop and retain diverse talent in our labor markets; and
•the other risk factors, trends and uncertainties set forth in our Annual Report on Form 10-K for the year ended December 31, 2022 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, and the risks and uncertainties discussed in any subsequent reports that we file or furnish with the SEC from time to time.
The financial information presented in this release is unaudited and is subject to change as a result of subsequent events or adjustments, if any, arising prior to the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.
6

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,
 2023202220232022
Dialysis patient service revenues$2,951,950 $2,846,494 $8,602,669 $8,372,874 
Other revenues169,382 102,200 391,731 320,132 
Total revenues3,121,332 2,948,694 8,994,400 8,693,006 
Operating expenses:  
Patient care costs2,067,315 2,085,555 6,181,348 6,120,872 
General and administrative376,883 365,447 1,072,513 975,486 
Depreciation and amortization188,423 194,414 550,166 538,534 
Equity investment income, net(7,228)(8,509)(22,502)(24,696)
Total operating expenses2,625,393 2,636,907 7,781,525 7,610,196 
Operating income495,939 311,787 1,212,875 1,082,810 
Debt expense(98,080)(99,680)(302,361)(256,057)
Debt extinguishment and modification costs— — (7,962)— 
Other loss, net(19,650)(4,898)(14,525)(7,968)
Income before income taxes378,209 207,209 888,027 818,785 
Income tax expense68,848 42,515 161,621 163,757 
Net income309,361 164,694 726,406 655,028 
Less: Net income attributable to noncontrolling interests(62,729)(59,328)(185,536)(162,731)
Net income attributable to DaVita Inc.$246,632 $105,366 $540,870 $492,297 
Earnings per share attributable to DaVita Inc.:  
Basic net income$2.70 $1.16 $5.95 $5.24 
Diluted net income$2.62 $1.13 $5.80 $5.07 
Weighted average shares for earnings per share:
Basic shares91,322 91,160 90,937 93,959 
Diluted shares94,041 93,263 93,317 97,153 

7

DAVITA INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
(dollars in thousands)
Three months ended September 30,Nine months ended September 30,
 2023202220232022
Net income$309,361 $164,694 $726,406 $655,028 
Other comprehensive (loss) income, net of tax:
Unrealized gains on interest rate cap agreements:
Unrealized gains6,996 41,312 28,305 95,660 
Reclassifications of net realized (gains) losses into net income(21,198)1,033 (55,895)3,100 
Unrealized (losses) gains on foreign currency translation:(47,644)(66,100)27,878 (95,064)
Other comprehensive (loss) income(61,846)(23,755)288 3,696 
Total comprehensive income247,515 140,939 726,694 658,724 
Less: Comprehensive income attributable to noncontrolling interests(62,729)(59,328)(185,536)(162,731)
Comprehensive income attributable to DaVita Inc.$184,786 $81,611 $541,158 $495,993 

8

DAVITA INC.
CONSOLIDATED STATEMENTS OF CASH FLOW
(unaudited)
(dollars in thousands)
Nine months ended September 30,
 20232022
Cash flows from operating activities: 
Net income$726,406 $655,028 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization550,166 538,534 
Loss on extinguishment of debt7,132 — 
Stock-based compensation expense82,313 77,904 
Deferred income taxes(17,767)(35,637)
Equity investment loss (income), net40,121 (417)
Other non-cash charges, net1,633 16,035 
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Accounts receivable118,148 (135,632)
Other current assets32,132 43,739 
Other long-term assets1,101 (49,326)
Accounts payable(33,837)38,870 
Accrued compensation and benefits65,279 35,491 
Other current liabilities10,822 87,248 
Income taxes(1,878)(37,770)
Other long-term liabilities(7,945)(13,219)
Net cash provided by operating activities1,573,826 1,220,848 
Cash flows from investing activities: 
Additions of property and equipment(409,011)(409,391)
Acquisitions(7,990)(43,811)
Proceeds from asset and business sales24,907 116,088 
Purchase of debt investments held-to-maturity(30,419)(94,602)
Purchase of other debt and equity investments(6,693)(3,322)
Proceeds from debt investments held-to-maturity94,414 40,660 
Proceeds from sale of other debt and equity investments3,930 3,763 
Other— (782)
Purchase of equity method investments(276,006)(28,176)
Distributions from equity method investments3,364 2,490 
Net cash used in investing activities(603,504)(417,083)
Cash flows from financing activities:
Borrowings2,468,335 1,705,913 
Payments on long-term debt(2,992,248)(1,557,358)
Deferred and debt related financing costs(53,466)— 
Purchase of treasury stock— (802,228)
Distributions to noncontrolling interests(203,381)(188,592)
Net payments related to stock purchases and awards(41,155)(42,248)
Contributions from noncontrolling interests11,579 11,382 
Proceeds from sales of additional noncontrolling interests50,962 3,673 
Purchases of noncontrolling interests(7,875)(20,770)
Net cash used in financing activities(767,249)(890,228)
Effect of exchange rate changes on cash, cash equivalents and restricted cash3,063 (6,283)
Net increase (decrease) in cash, cash equivalents and restricted cash206,136 (92,746)
Cash, cash equivalents and restricted cash at beginning of the year338,989 554,960 
Cash, cash equivalents and restricted cash at end of the period$545,125 $462,214 

9

DAVITA INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(dollars and shares in thousands, except per share data)
 September 30, 2023December 31, 2022
ASSETS  
Cash and cash equivalents$449,458 $244,086 
Restricted cash and equivalents95,667 94,903 
Short-term investments11,713 77,693 
Accounts receivable2,024,827 2,132,070 
Inventories109,620 109,122 
Other receivables352,965 413,976 
Prepaid and other current assets91,109 78,839 
Income tax receivable— 4,603 
Total current assets3,135,359 3,155,292 
Property and equipment, net of accumulated depreciation of $5,650,912 and $5,265,372, respectively
3,097,483 3,256,397 
Operating lease right-of-use assets2,509,416 2,666,242 
Intangible assets, net of accumulated amortization of $37,738 and $49,772, respectively
185,403 182,687 
Equity method and other investments565,394 231,108 
Long-term investments45,320 44,329 
Other long-term assets302,142 315,587 
Goodwill7,088,223 7,076,610 
 $16,928,740 $16,928,252 
LIABILITIES AND EQUITY  
Accounts payable$435,417 $479,780 
Other liabilities808,000 802,469 
Accrued compensation and benefits770,184 692,654 
Current portion of operating lease liabilities393,440 395,401 
Current portion of long-term debt108,558 231,404 
Income tax payable22,331 18,039 
Total current liabilities2,537,930 2,619,747 
Long-term operating lease liabilities2,342,170 2,503,068 
Long-term debt8,285,146 8,692,617 
Other long-term liabilities184,944 105,233 
Deferred income taxes753,871 782,787 
Total liabilities14,104,061 14,703,452 
Commitments and contingencies
Noncontrolling interests subject to put provisions1,445,403 1,348,908 
Equity:  
Preferred stock ($0.001 par value, 5,000 shares authorized; none issued)
— — 
Common stock ($0.001 par value, 450,000 shares authorized; 91,348 and 90,411 shares issued
 and outstanding at September 30, 2023 and December 31, 2022, respectively)
91 90 
Additional paid-in capital552,651 606,935 
Retained earnings715,357 174,487 
Accumulated other comprehensive loss(68,898)(69,186)
Total DaVita Inc. shareholders' equity1,199,201 712,326 
Noncontrolling interests not subject to put provisions180,075 163,566 
Total equity1,379,276 875,892 
 $16,928,740 $16,928,252 

10

DAVITA INC.
SUPPLEMENTAL FINANCIAL DATA
(unaudited)
(dollars in millions and shares in thousands, except per treatment data)
Three months endedNine months ended September 30, 2023
September 30,
2023		June 30,
2023
1. Consolidated business metrics:
Operating margin15.9 %13.5 %13.5 %
Adjusted operating margin excluding certain items(1)(2)
16.8 %14.4 %14.5 %
General and administrative expenses as a percent of consolidated revenues(3)
12.1 %12.1 %11.9 %
Effective income tax rate on income
18.2 %16.5 %18.2 %
Effective income tax rate on income attributable to DaVita Inc.(1)
21.8 %21.3 %22.9 %
Effective income tax rate on adjusted income attributable to DaVita Inc.(1)
22.1 %21.6 %23.2 %
2. Summary of financial results:
Revenues:
U.S. dialysis patient services and other
$2,785 $2,731 $8,128 
Other—Ancillary services
Integrated kidney care158 94 351 
Other U.S. ancillary4 7 18 
International dialysis patient service and other
200 190 569 
363 292 938 
Eliminations
(27)(22)(72)
Total consolidated revenues
$3,121 $3,000 $8,994 
Operating income (loss):
U.S. dialysis
$509 $461 $1,331 
Other—Ancillary services
Integrated kidney care11 (39)(66)
Other U.S. ancillary(2)(2)(7)
International(4)
19 20 54 
28 (22)(18)
Corporate administrative support expenses
(41)(34)(100)
Total consolidated operating income
$496 $405 $1,213 

11

DAVITA INC.
SUPPLEMENTAL FINANCIAL DATA - continued
(unaudited)
(dollars in millions and shares in thousands, except per treatment data)
Three months endedNine months ended September 30, 2023
September 30,
2023		June 30,
2023
3. Summary of reportable segment financial results and metrics:
U.S. dialysis
Financial results
Revenue:
Dialysis patient service revenues
$2,779 $2,724 $8,109 
Other revenues
6 6 19 
Total operating revenues
2,785 2,731 8,128 
Operating expenses:
Patient care costs
1,827 1,826 5,485 
General and administrative
281 279 819 
Depreciation and amortization
176 172 515 
Equity investment income
(8)(8)(22)
Total operating expenses
2,276 2,270 6,797 
Segment operating income$509 $461 $1,331 
Reconciliation for non-GAAP measure:
Closure charges24 21 67 
Severance and other costs4 5 26 
Adjusted segment operating income(1)
$537 $487 $1,425 
Metrics
Volume:
Treatments7,306,948 7,231,242 21,655,618 
Number of treatment days79.0 78.0 234.0 
Average treatments per day92,493 92,708 92,545 
Per day year-over-year (decrease) increase (0.4)%(0.5)%(0.3)%
Normalized year-over-year non-acquired treatment growth(5)
0.5 %(0.2)%
Operating net revenues:
Average patient service revenue per treatment$380.33 $376.73 $374.46 
Expenses:
Patient care costs per treatment
$250.08 $252.57 $253.30 
General and administrative expenses per treatment$38.40 $38.60 $37.81 
Depreciation and amortization expense per treatment$24.08 $23.76 $23.77 
Accounts receivable:
Receivables
$1,708 $1,700 
DSO
57 57 
12

DAVITA INC.
SUPPLEMENTAL FINANCIAL DATA - continued
(unaudited)
(dollars in millions and shares in thousands, except per treatment data)
Three months endedNine months ended September 30, 2023
September 30,
2023		June 30,
2023
4. Cash flow:
Operating cash flow$661 $450 $1,574 
Operating cash flow, last twelve months$1,918 $1,967 
Free cash flow(1)
$453 $260 $979 
Free cash flow, last twelve months(1)
$1,054 $1,100 
Capital expenditures:
Routine maintenance/IT/other
$93 $86 $287 
Development and relocations
$44 $39 $122 
Acquisition expenditures
$5 $3 $8 
Proceeds from sale of self-developed properties$4 $2 $5 
5. Debt and capital structure:
Total debt(6)
$8,451 $8,760 
Net debt, net of cash and cash equivalents(6)
$8,002 $8,432 
Leverage ratio(7)
3.27x3.69x
Weighted average effective interest rate:
During the quarter
4.61 %4.67 %
At end of the quarter
4.56 %4.66 %
On the senior secured credit facilities at end of the quarter4.70 %4.90 %
Debt with fixed and capped rates as a percentage of total debt:
Debt with rates fixed by its terms
54 %52 %
Debt with rates fixed by its terms or capped by cap agreements95 %92 %
Certain columns, rows or percentages may not sum or recalculate due to the presentation of rounded numbers.
(1)These are non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to their most comparable measure calculated and presented in accordance with GAAP, and for a definition of adjusted amounts, see attached reconciliation schedules.
(2)Adjusted operating income margin is adjusted operating income divided by consolidated revenues.
(3)General and administrative expenses include certain corporate support, long-term incentive compensation and advocacy costs.
(4)The reported operating income for the three months ended September 30, 2023, and June 30, 2023 and for the nine months ended September 30, 2023 includes foreign currency gains embedded in equity method income recognized from our Asia Pacific joint venture of approximately $0.4, $1.2 and $1.0, respectively.
(5)Normalized non-acquired treatment growth reflects year-over-year growth in treatment volume, adjusted to exclude acquisitions and other similar transactions, and further adjusted to normalize for the number and mix of treatment days in a given quarter versus the prior year quarter.
(6)The debt amounts as of September 30, 2023 and June 30, 2023 presented exclude approximately $57.5 and $60.6, respectively, of debt discount, premium and other deferred financing costs related to our senior secured credit facilities and senior notes in effect or outstanding at that time.
(7)See Note 1: Calculation of the Leverage Ratio on page 14.
13

DAVITA INC.
SUPPLEMENTAL FINANCIAL DATA-continued
(unaudited)
(dollars in millions)
Note 1: Calculation of the Leverage Ratio
Under our amended senior secured credit facilities (the Amended Credit Agreement) dated April 28, 2023 the leverage ratio is defined as (a) all funded debt, minus unrestricted cash and cash equivalents (including short-term investments) not to exceed $750 divided by (b) "Consolidated EBITDA." The leverage ratio determines the interest rate margin payable by the Company for its Term Loan A-1 and new revolving line of credit under the Amended Credit Agreement by establishing the margin over the base interest rate (SOFR plus credit spread adjustment) that is applicable. The calculation below is based on the last 12 months of "Consolidated EBITDA" and "Consolidated net debt" at the end of each reported period, each as defined in the credit agreement. The calculation of "Consolidated EBITDA" below sets forth, among other things, certain pro forma adjustments described in the Amended Credit Agreement, including pro forma adjustments for acquisitions or divestitures that occurred during the period and certain projected net cost savings, expense reductions and cost synergies. These pro forma adjustments are determined according to specified criteria set forth in the Amended Credit Agreement, and as a result, the total adjustments calculated may not be comparable to the Company's estimates for other purposes, including as operating performance measures. The Company’s management believes the presentation of "Consolidated EBITDA" is useful to investors to enhance their understanding of the Company’s leverage ratio under the Amended Credit Agreement and should not be evaluated for any other purpose. The leverage ratio calculated by the Company is a non-GAAP measure and should not be considered a substitute for the ratio of total debt to operating income, determined in accordance with GAAP. The Company’s calculation of its leverage ratio might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures of other companies.
Twelve months ended
September 30,
2023		June 30,
2023
Net income from continuing operations attributable to DaVita Inc.$596 $454 
Income taxes196 170 
Interest expense362 367 
Depreciation and amortization744 750 
Net income attributable to noncontrolling interests244 241 
Stock-settled stock-based compensation98 99 
Debt extinguishment and modification costs8 8 
Expected cost savings and expense reductions65 73 
Severance and other related costs54 49 
Other 81 71 
"Consolidated EBITDA"$2,447 $2,281 
September 30,
2023		June 30,
2023
Total debt, excluding debt discount and other deferred financing costs(1)
$8,451 $8,760 
Less: Cash and cash equivalents including short-term investments(2)
(457)(336)
Consolidated net debt$7,994 $8,424 
Last twelve months "Consolidated EBITDA"$2,447 $2,281 
Leverage ratio3.27x3.69x
Maximum leverage ratio permitted under the Credit Agreement5.00x5.00x
Certain columns or rows may not sum or recalculate due to the presentation of rounded numbers.
(1)The debt amounts as of September 30, 2023 and June 30, 2023 presented exclude approximately $57.5 and $60.6, respectively, of debt discount, premium and other deferred financing costs related to our senior secured credit facilities and senior notes in effect or outstanding at that time.
(2)This excludes amounts not readily convertible to cash related to the Company's non-qualified deferred compensation plans for all periods presented. The Amended Credit Agreement limits the amount deducted for cash and cash equivalents, including short-term investments, to the lesser of all unrestricted cash and cash equivalents, including short-term investments of the Company or $750.
14

DAVITA INC.
INTEGRATED CARE METRICS
(unaudited)
Note 2:    Integrated Care Metrics
Our integrated kidney care (IKC) business is party to a variety of risk-based integrated care and disease management arrangements, including value-based care (VBC) contracts under which we assume full or shared financial risk for the total medical cost of care for patients below or above a benchmark.
The aggregate amount of medical spend associated with risk-based integrated care arrangements that we disclose includes both medical costs included in our reported expenses for certain risk-based arrangements (such as our special needs plans), as well as the aggregate estimated benchmark amount above or below which we will incur profit or loss from VBC arrangements under which third-party medical costs are not included in our reported results. This metric is an annualization of our estimate of this amount for the most recent quarter.
A number of our VBC contracts are subject to complex or novel patient attribution mechanics and benchmark adjustments, some of which are based on information not reported to us until periods after we report our quarterly results. As a result, our estimates of our patients under, and the dollar amount of, our value-based contracts remain subject to estimation uncertainty.
15

DAVITA INC.
RECONCILIATIONS FOR NON-GAAP MEASURES
(unaudited)
Note on Non-GAAP Financial Measures
As used in this press release, the term "adjusted" refers to non-GAAP measures as follows, each as reconciled to its most comparable GAAP measure as presented in the non-GAAP reconciliations in the notes to this press release: (i) for income and expense measures, the term "adjusted" refers to operating performance measures that exclude certain items such as impairment charges, (gain) loss on ownership changes, capacity closure charges, restructuring charges, accruals for legal matters and debt prepayment and refinancing charges; and (ii) the term "effective income tax rate on adjusted income attributable to DaVita Inc." represents the Company’s effective tax rate excluding applicable non-GAAP items and the tax associated with them as well as noncontrolling owners’ income, which primarily relates to non-tax paying entities.
These non-GAAP or "adjusted" measures are presented because management believes these measures are useful adjuncts to GAAP results. However, these non-GAAP measures should not be considered alternatives to the corresponding measures determined under GAAP. 
Specifically, management uses adjusted measures of operating expenses for its U.S. dialysis business, adjusted U.S. dialysis patient care costs per treatment, adjusted operating income, adjusted net income attributable to DaVita Inc. and adjusted diluted net income per share attributable to DaVita Inc. to compare and evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. We believe these non-GAAP measures also are useful to investors and analysts in evaluating our performance over time and relative to competitors, as well as in analyzing the underlying trends in our business. Furthermore, we believe these presentations enhance a user's understanding of our normal consolidated results by excluding certain items which we do not believe are indicative of our ordinary results of operations. As a result, adjusting for these amounts allows for comparison to our normalized prior period results.
The effective income tax rate on adjusted income attributable to DaVita Inc. excludes noncontrolling owners' income and certain non-deductible and other charges which we do not believe are indicative of our ordinary results. Accordingly, we believe these adjusted effective income tax rates are useful to management, investors and analysts in evaluating our performance and establishing expectations for income taxes incurred on our ordinary results attributable to DaVita Inc.
Finally, free cash flow represents net cash provided by operating activities less distributions to noncontrolling interests and all capital expenditures (including development capital expenditures, routine maintenance and information technology); plus contributions from noncontrolling interests and proceeds from the sale of self-developed properties. Management uses this measure to assess our ability to fund acquisitions and meet our debt service obligations and we believe this measure is equally useful to investors and analysts as an adjunct to cash flows from operating activities and other measures under GAAP.
It is important to bear in mind that these non-GAAP "adjusted" measures are not measures of financial performance or liquidity under GAAP and should not be considered in isolation from, nor as substitutes for, their most comparable GAAP measures.
The following Notes 3 through 7 provide reconciliations of the non-GAAP financial measures presented in this press release to their most comparable GAAP measures.
16

DAVITA INC.
RECONCILIATIONS FOR NON-GAAP MEASURES - continued
(unaudited)
(dollars in millions, except per share data)
Note 3:    Adjusted net income and adjusted diluted net income per share attributable to DaVita Inc.
Three months endedNine months ended
September 30,
2023		June 30,
2023		September 30,
2023		September 30,
2022
DollarsPer shareDollarsPer shareDollarsPer shareDollarsPer share
Consolidated:
Net income attributable to DaVita Inc. $247 $2.62 $179 $1.91 $541 $5.80 $492 $5.07 
Closure charges impacting:
 Patient care costs4 0.05 6 0.06 23 0.24 15 0.16 
 General and administrative:3 0.04 8 0.08 16 0.17 14 0.15 
 Depreciation and amortization16 0.17 8 0.08 29 0.31 22 0.22 
Total closure charges24 0.26 21 0.23 67 0.72 50 0.52 
Severance and other costs5 0.05 5 0.06 28 0.30 — — 
Other income — Mozarc gain— — (14)(0.15)(14)(0.15)— — 
Debt extinguishment and modification costs— — 8 0.09 8 0.09 — — 
Related income tax(7)(0.08)(5)(0.05)(22)(0.24)(13)(0.13)
Adjusted net income attributable to DaVita Inc.$268 $2.85 $194 $2.08 $608 $6.51 $530 $5.46 
Certain columns, rows or percentages may not sum or recalculate due to the presentation of rounded numbers.
17

DAVITA INC.
RECONCILIATIONS FOR NON-GAAP MEASURES - continued
(unaudited)
(dollars in millions, except per share data)
Note 4:    Adjusted operating income
Three months endedNine months ended
September 30,
2023		June 30,
2023		September 30,
2023		September 30,
2022
Consolidated:
Operating income$496 $405 $1,213 $1,083 
Closure charges impacting:
 Patient care costs4 6 23 15 
 General and administrative:3 8 16 14 
 Depreciation and amortization16 8 29 22 
Total closure charges24 21 67 50 
Severance and other costs5 5 28 — 
Adjusted operating income$525 $432 $1,308 $1,133 
Three months endedNine months ended
September 30,
2023		June 30,
2023		September 30,
2023		September 30,
2022
Consolidated:
U.S. dialysis:
Segment operating income$509 $461 $1,331 $1,231 
Closure charges24 21 67 50 
Severance and other costs4 5 26 — 
Adjusted U.S. dialysis operating income537 487 1,425 1,281 
Other - Ancillary services:
U.S.
Integrated kidney care11 (39)(66)(90)
Other U.S. ancillary(2)(2)(7)(8)
Segment operating loss9 (42)(72)(98)
Severance and other costs— — — — 
Adjusted operating loss9 (42)(72)(98)
International
Segment operating income19 20 54 41 
Other - Ancillary services operating loss28 (22)(18)(57)
Corporate administrative support expenses:
Segment expenses(41)(34)(100)(91)
Severance and other costs— — 1 — 
Adjusted Corporate administrative support expenses(41)(33)(98)(91)
Adjusted operating income$525 $432 $1,308 $1,133 
Certain columns, rows or percentages may not sum or recalculate due to the presentation of rounded numbers.

18

DAVITA INC.
RECONCILIATIONS FOR NON-GAAP MEASURES - continued
(unaudited)
(dollars in millions, except per share data)
Note 5:    Adjusted U.S. dialysis expense measures
Three months ended
September 30, 2023June 30, 2023
GAAPNon-GAAP adjustmentAdjustedGAAPNon-GAAP adjustmentAdjusted
(dollars in millions)
U.S. dialysis
Treatments7,306,948 7,306,948 7,231,242 7,231,242 
Operating expenses:
Patient care costs$1,827 $(4)$1,823 $1,826 $(6)$1,821 
General and administrative281 (8)273 279 (13)266 
Depreciation and amortization176 (16)160 172 (8)164 
Equity investment income(8)(8)(8)(8)
Total operating expenses$2,276 $(28)$2,248 $2,270 $(26)$2,244 
Patient care costs per treatment(1)
$250.08 $249.48 $252.57 $251.78 
Certain columns, rows, per treatment amounts or percentages may not sum or recalculate due to the presentation of rounded numbers.
(1)Patient care costs per treatment and adjusted patient care costs per treatment are patient care costs or adjusted patient care costs divided by number of U.S. dialysis treatments, respectively.
19

DAVITA INC.
RECONCILIATIONS FOR NON-GAAP MEASURES - continued
(unaudited)
(dollars in millions)
Note 6:    Effective income tax rates on income attributable to DaVita Inc.
Three months endedNine months ended
September 30, 2023
September 30,
2023		June 30,
2023
Income before income taxes$378 $295 $888 
Noncontrolling owners’ income primarily attributable to non-tax paying entities(63)(68)(186)
Income before income taxes attributable to DaVita Inc.$315 $227 $702 
Income tax expense$69 $49 $162 
Income tax attributable to noncontrolling interests— — (1)
Income tax expense attributable to DaVita Inc.$69 $48 $161 
Effective income tax rate on income attributable to DaVita Inc.21.8 %21.3 %22.9 %
The effective income tax rate on adjusted income attributable to DaVita Inc. is computed as follows:
Three months endedNine months ended
September 30, 2023
September 30,
2023		June 30,
2023
Income before income taxes$378 $295 $888 
Closure charges impacting:
 Patient care costs4 6 23 
 General and administrative:3 8 16 
 Depreciation and amortization16 8 29 
Severance and other costs5 5 28 
Other income — Mozarc gain— (14)(14)
Debt extinguishment and modification costs— 8 8 
Noncontrolling owners’ income primarily attributable to non-tax paying entities(63)(68)(186)
Adjusted income before income taxes attributable to DaVita Inc.$344 $247 $791 
Income tax expense$69 $49 $162 
Plus income tax related to:
Closure charges impacting:
 Patient care costs1 1 6 
 General and administrative:1 2 4 
 Depreciation and amortization4 2 7 
Severance and other costs1 1 7 
Other income — Mozarc gain— (3)(3)
Debt extinguishment and modification costs— 2 2 
Less income tax related to:
Noncontrolling interests— — (1)
Income tax on adjusted income attributable to DaVita Inc.$76 $53 $183 
Effective income tax rate on adjusted income attributable to DaVita Inc.22.1 %21.6 %23.2 %
Certain columns, rows or percentages may not sum or recalculate due to the presentation of rounded numbers.
20

DAVITA INC.
RECONCILIATIONS FOR NON-GAAP MEASURES - continued
(unaudited)
(dollars in millions, except per share data)
Note 7:    Free cash flow
Three months endedNine months ended
September 30, 2023
September 30,
2023		June 30,
2023		September 30,
2022
Net cash provided by operating activities$661 $450 $711 $1,574 
Adjustments to reconcile net cash provided by operating activities to
 free cash flow:
Distributions to noncontrolling interests(79)(69)(70)(203)
Contributions from noncontrolling interests5 2 2 12 
Expenditures for routine maintenance and information technology(93)(86)(104)(287)
Expenditures for development and relocations(44)(39)(40)(122)
Proceeds from sale of self-developed properties4 2 1 5 
Free cash flow$453 $260 $500 $979 
Twelve months ended
September 30,
2023		June 30,
2023		September 30,
2022
Net cash provided by operating activities$1,918 $1,967 $1,751 
Adjustments to reconcile net cash provided by operating activities to free cash flow:
Distributions to noncontrolling interests(283)(274)(255)
Contributions from noncontrolling interests15 13 15 
Expenditures for routine maintenance and information technology(434)(445)(416)
Expenditures for development and relocations(169)(165)(182)
Proceeds from sale of self-developed properties7 4 120 
Free cash flow$1,054 $1,100 $1,032 
Certain columns or rows may not sum or recalculate due to the presentation of rounded numbers.
21
v3.23.3
Document and Entity Information Document and Entity Information
Nov. 07, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 07, 2023
Entity Registrant Name DAVITA INC.
Entity Incorporation, State or Country Code DE
Entity File Number 1-14106
Entity Tax Identification Number 51-0354549
Entity Address, Address Line One 2000 16th Street
Entity Address, City or Town Denver,
Entity Address, State or Province CO
Entity Address, Postal Zip Code 80202
City Area Code 720
Local Phone Number 631-2100
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.001 par value
Trading Symbol DVA
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000927066
Amendment Flag false
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