For the year ending 2025-12-31, DVA had -$122,078K decrease in cash & cash equivalents over the period. $1,310,636K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,078,716 | 1,250,737 | 956,978 | 781,643 |
| Depreciation and amortization | 715,348 | 723,860 | 745,443 | 732,602 |
| Impairment charges | 0 | 0 | 26,083 | - |
| Loss on extinguishment of debt | 12,386 | 12,527 | 7,132 | - |
| Stock-based compensation expense | 139,953 | 102,788 | 112,375 | 95,427 |
| Deferred income taxes | 86,574 | -57,840 | -39,354 | -75,669 |
| Equity investment loss, net | -134,313 | -115,839 | -64,777 | -8,773 |
| Loss on sales of business interests, net | - | - | - | 0 |
| Gain on changes in ownership interests | 0 | 109,466 | - | - |
| Other non-cash (gains) and losses, net | 17,549 | -13,414 | 8,938 | -21,693 |
| Accounts receivable | 210,632 | 29,766 | -172,361 | 148,394 |
| Inventories | 19,950 | -17,942 | 32,132 | 757 |
| Other current assets | 124,297 | -36,801 | 43,437 | -27,533 |
| Other long-term assets | 40,253 | 67,031 | 5,792 | 50,549 |
| Accounts payable | 128,303 | 1,699 | 26,890 | 87,481 |
| Accrued compensation and benefits | -24,042 | 14,687 | 56,209 | 34,536 |
| Other current liabilities | -29,963 | 46,733 | 27,082 | 89,955 |
| Income taxes | 50,245 | -44,214 | 1,570 | -24,103 |
| Other long-term liabilities | 7,348 | -6,672 | -8,216 | -15,601 |
| Net cash provided by (used in) operating activities, total | 1,886,500 | 2,022,038 | 2,059,031 | 1,564,570 |
| Additions of property and equipment | 575,864 | 555,443 | 567,985 | 603,429 |
| Acquisitions | 117,468 | 246,068 | 26,394 | 57,308 |
| Proceeds from asset and business sales | 34,173 | 25,862 | 30,610 | 117,582 |
| Purchase of debt investments held-to-maturity | 16,405 | 15,319 | 37,180 | 129,803 |
| Purchase of other debt and equity investments | 6,031 | 9,140 | 9,566 | 3,590 |
| Proceeds from debt investments held-to-maturity | 45,413 | 22,638 | 99,639 | 71,125 |
| Proceeds from sale of other debt and equity investments | 6,723 | 4,566 | 10,365 | 3,781 |
| Purchase of equity method investments | 27,030 | 5,205 | 276,202 | 31,885 |
| Distributions from equity method investments | 1,540 | 6,680 | 4,913 | 3,962 |
| Payments to acquire other investments | - | 0 | 0 | 782 |
| Net cash provided by (used in) investing activities, total | -654,949 | -771,429 | -771,800 | -630,347 |
| Borrowings | 5,612,280 | 6,624,310 | 2,468,341 | 2,393,116 |
| Payments on long-term debt | 4,788,845 | 5,515,213 | 3,020,956 | 2,404,395 |
| Deferred and debt related financing costs | 53,819 | 50,874 | 69,791 | 3 |
| Purchase of treasury stock from related party | 484,633 | - | - | - |
| Purchase of treasury stock | 1,308,366 | 1,385,932 | 272,219 | 802,228 |
| Distributions to noncontrolling interests | 324,270 | 337,042 | 280,938 | 267,946 |
| Net proceeds from issuance of common stock under employee stock plans | 23,290 | 20,453 | - | - |
| Net (payments) receipts related to stock purchases and awards | - | - | 48,112 | 37,367 |
| Payment, tax withholding, share-based payment arrangement | 35,291 | 134,040 | - | - |
| Contributions from noncontrolling interests | 7,078 | 14,499 | 14,773 | 14,797 |
| Proceeds from sales of additional noncontrolling interests | 3,794 | 860 | 50,962 | 3,673 |
| Purchases of noncontrolling interests | 25,998 | 53,958 | 12,555 | 20,775 |
| Net cash used in financing activities | -1,374,780 | -816,937 | -1,170,495 | -1,121,128 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 21,151 | -18,481 | 8,909 | -29,066 |
| Less net increase (decrease) in cash, cash equivalents and restricted cash | -122,078 | 415,191 | 125,645 | -215,971 |
| Cash and cash equivalents at beginning of period | 879,825 | 464,634 | 338,989 | 554,960 |
| Cash and cash equivalents at end of period | 757,747 | 879,825 | 464,634 | 338,989 |
DAVITA INC. (DVA)
DAVITA INC. (DVA)