Acquisitions and divestitures

6 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

During the six months ended June 30, 2024 the Company acquired dialysis businesses, as follows:


	Six months ended June 30, 2024
Cash paid, net of cash acquired	$	157,783

Liabilities assumed	$	51,768
Fair value of previously held equity method investments	$	67,526

Number of dialysis centers acquired — U.S.	12
Number of dialysis centers acquired — International	90

Included in these transactions, the Company acquired a controlling interest in a previously nonconsolidated U.S. dialysis partnership for which it recognized a non-cash gain of $35,147 on its prior investment upon consolidation. The Company estimated the fair value of its previously held equity interests using appraisals developed with independent third party valuation firms.

The assets and liabilities for these acquisitions were recorded at their estimated fair values at the dates of the acquisitions and are included in the Company’s consolidated financial statements, as are their operating results, from the designated effective dates of the acquisitions.

The initial purchase price allocations for these acquisitions have been recorded at estimated fair values based on information that was available to management and will be finalized when certain information arranged to be obtained is received. In particular, certain income tax amounts are pending final evaluation and quantification of any pre-acquisition tax contingencies. In addition, valuation of intangibles, contingent earn-outs, property and equipment, leases, and certain other working capital items relating to these acquisitions are pending final quantification.

The following table summarizes the assets acquired and liabilities assumed in these transactions and recognized at their acquisition dates at estimated fair values, as well as the estimated fair value of noncontrolling interests assumed in these transactions:


	Six months ended June 30, 2024
Current assets	$	149,308
Property and equipment	46,473

Right-of-use lease assets and other long-term assets	51,300
Indefinite-lived licenses	8,854
Goodwill	137,817

Liabilities assumed	(96,417)
Noncontrolling interests assumed	(20,258)
	$	277,077

The amount of goodwill related to these acquisitions recognized or adjusted during the six months ended June 30, 2024 that is deductible for tax purposes was $60,065.