Page index
Abstract of the Consolidated Financial Statements

Consolidated Statements of Income

T. 2.1.1

Consolidated Statements of Income

in $ THOUS, except share data
 
  Note 2012 2011
See accompanying notes to consolidated financial statements.
Net revenue      
Dialysis care   10,772,124 9,507,173
Less: patient service bad debt provision   280,365 224,545
Net dialysis care   10,491,759 9,282,628
Dialysis products   3,308,523 3,287,887

Total

23 13,800,282 12,570,515
 
Costs of revenue
Dialysis care   7,649,514 6,861,197
Dialysis products   1,549,515 1,557,277

Total

  9,199,029 8,418,474
       
Gross profit   4,601,253 4,152,041
 
Operating (income) expenses
Selling, general and administrative   2,224,715 2,001,825
Gain on sale of dialysis clinics 2 (36,224) (4,551)
Research and development   111,631 110,834
Income from equity method investees 23 (17,442) (30,959)
Other operating expenses 4 100,000 -

Operating income

  2,218,573 2,074,892
 
Other (income) expense
Investment gain 2 (139,600) -
Interest income   (44,474) (59,825)
Interest expense   470,534 356,358
Income before income taxes   1,932,113 1,778,359
Income tax expense 17 605,136 601,097
Net income   1,326,977 1,177,262
Less: net income attributable to noncontrolling interests   140,168 106,108

Net income attributable to shareholders of FMC AG & Co. KGaA

  1,186,809 1,071,154
       

Basic income per ordinary share

15 3.89 3.54

Fully diluted income per ordinary share

15 3.87 3.51

Consolidated Statements of Comprehensive Income

T. 2.2.1

Consolidated Statements of Comprehensive Income

in $ THOUS
 
  Note 2012 2011
See accompanying notes to consolidated financial statements.

Net income

  1,326,977 1,177,262
Gain (loss) related to cash flow hedges 20, 21 24,019 (102,446)
Actuarial gains (losses) on defined benefit pension plans 21 (103,178) (81,906)
Gain (loss) related to foreign currency translation 21 63,803 (181,234)
Income tax (expense) benefit related to components of other comprehensive income 20, 21 8,831 72,617

Other comprehensive income (loss), net of tax

21 (6,525) (292,969)

Total comprehensive income

  1,320,452 884,293
Comprehensive income attributable to noncontrolling interests   139,989 104,861

Comprehensive income attributable to shareholders of FMC AG & Co. KGa A

  1,180,463 779,432

Consolidated Balance Sheets

T. 2.3.1

Consolidated Balance Sheets

in $ THOUS, except share data, December 31
 
  Note 2012 2011
See accompanying notes to consolidated financial statements.
Assets      
Current assets      
Cash and cash equivalents   688,040 457,292
Trade accounts receivable less allowance for doubtful accounts
of $328,893 in 2012 and $299,751 in 2011
  3,019,424 2,798,318
Accounts receivable from related parties 3 137,809 111,008
Inventories 4 1,036,809 967,496
Prepaid expenses and other current assets 5 937,761 1,035,366
Deferred taxes 17 307,613 325,539

Total current assets

  6,127,456 5,695,019
       
Property, plant and equipment, net 6 2,940,603 2,629,701
Intangible assets 7 710,116 686,652
Goodwill 7 1 1,421,889 9,186,650
Deferred taxes 17 133,753 88,159
Investment in equity method investees 23 637,373 692,025
Other assets and notes receivables   354,808 554,644

Total assets

  22,325,998 19,532,850
       
Liabilities and shareholders’ equity      
Current liabilities      
Accounts payable   622,294 541,423
Accounts payable to related parties 3 123,350 111,226
Accrued expenses and other current liabilities   1,787,471 1,704,273
Short-term borrowings and other financial liabilities 9 117,850 98,801
Short-term borrowings from related parties 9 3,973 28,013
Current portion of long-term debt and capital lease obligations 10 334,747 1,589,776
Income tax payable   150,003 162,354
Deferred taxes 17 30,303 26,745

Total current liabilities

  3,169,991 4,262,611
       
Long-term debt and capital lease obligations, less current portion 10 7,841,914 5,494,810
Other liabilities   294,569 236,628
Pension liabilities 11 423,361 290,493
Income tax payable   201,642 189,000
Deferred taxes 17 664,001 587,800

Total liabilities

  12,595,478 11,061,342
       
Noncontrolling interests subject to put provisions 12 523,260 410,491
 
Shareholders’ equity
Preference shares, no par value, €1.00 nominal value,
7,066,522 shares authorized, 3,973,333 issued and outstanding
13 4,462 4,452
Ordinary shares, no par value, €1.00 nominal value,
385,396,450 shares authorized, 302,739,758 issued and outstanding
13 374,915 371,649
Additional paid-in capital 13 3,491,581 3,362,633
Retained earnings 13 5,563,661 4,648,585
Accumulated other comprehensive (loss) income 21 (492,113) (485,767)

Total FMC AG & Co. KGa A shareholders’ equity

  8,942,506 7,901,552
Noncontrolling interests not subject to put provisions   264,754 159,465

Total equity

  9,207,260 8,061,017

Total liabilities and equity

  22,325,998 19,532,850

Consolidated Statements of Cash Flows

T. 2.4.1

Consolidated Statements of Cash Flows

in $ THOUS
 
  Note 2012 2011
See accompanying notes to consolidated financial statements.
Operating activities      
Net income   1,326,977 1,177,262
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6, 7, 23 602,896 557,283
Change in deferred taxes, net   70,462 147,454
(Gain) loss on sale of investments   (36,224) (7,679)
(Gain) loss on sale of fixed assets   6,700 (1,306)
Investment (gain) 2 (139,600) -
Compensation expense related to stock options 16 26,476 29,071
Cash inflow (outflow) from hedging   (13,947) (58,113)
Investments in equity method investees, net   22,512 (30,959)
Changes in assets and liabilities, net of amounts from businesses acquired:      
Trade accounts receivable, net   (43,344) (252,794)
Inventories   (48,279) (151,890)
Prepaid expenses, other current and non-current assets   93,121 (119,131)
Accounts receivable from related parties   (25,859) (11,669)
Accounts payable to related parties   10,064 (4,495)
Accounts payable, accrued expenses and other current and non-current liabilities   225,586 132,406
Income tax payable   (38,478) 41,042

Net cash provided by (used in) operating activities

  2,039,063 1,446,482
       
Investing activities
Purchases of property, plant and equipment 23 (675,310) (597,855)
Proceeds from sale of property, plant and equipment   9,667 27,325
Acquisitions and investments, net of cash acquired, and purchases of intangible assets 2, 23 (1,878,908) (1,785,329)
Proceeds from divestitures   263,306 9,990

Net cash provided by (used in) investing activities

  (2,281,245) (2,345,869)
 
Financing activities
Proceeds from short-term borrowings and other financial liabilities   174,391 189,987
Repayments of short-term borrowings and other financial liabilities   (163,059) (248,821)
Proceeds from short-term borrowings from related parties   39,829 146,872
Repayments of short-term borrowings from related parties   (64,112) (127,015)
Proceeds from long-term debt and capital lease obligations (net of debt issuance costs and other hedging costs of $178,593 in 2012, $127,854 in 2011)   4,750,730 2,706,105
Repayments of long-term debt and capital lease obligations   (3,589,013) (957,235)
Redemption of trust preferred securities   - (653,760)
Increase (decrease) of accounts receivable securitization program   (372,500) 24,500
Proceeds from exercise of stock options   121,126 94,893
Dividends paid 13 (271,733) (280,649)
Distributions to noncontrolling interests   (195,023) (129,542)
Contributions from noncontrolling interests   37,704 27,824

Net cash provided by (used in) financing activities

  468,340 793,159

Effect of exchange rate changes on cash and cash equivalents

  4,590 40,650
 
Cash and cash equivalents
Net increase (decrease) in cash and cash equivalents   230,748 (65,578)
Cash and cash equivalents at beginning of period   457,292 522,870

Cash and cash equivalents at end of period

  688,040 457,292

Consolidated Statement of Shareholders’ Equity

T. 2.5.1

Consolidated Statement of Shareholders’ Equity

in $ THOUS, except share data
     
    Preference shares Ordinary shares
  Note Number of shares No par value Number of shares No par value
See accompanying notes to consolidated financial statements.

Balance at December 31, 2010

  3,957,168 4,440 298,279,001 369,002
Proceeds from exercise of options and related tax effects 16 8,523 12 1,885,921 2,647
Compensation expense related to stock options 16 - - - -
Dividends paid 13 - - - -
Purchase/sale of noncontrolling interests 13 - - - -
Contributions from/to noncontrolling interests   - - - -
Changes in fair value of noncontrolling interests subject to put provisions 12 - - - -
Net income   - - - -
Other comprehensive income (loss) 21 - - - -
Comprehensive income - - - -

Balance at December 31, 2011

  3,965,691 4,452 300,164,922 371,649
           
Proceeds from exercise of options and related tax effects 16 7,642 10 2,574,836 3,266
Compensation expense related to stock options 16 - - - -
Dividends paid 13 - - - -
Purchase/sale of noncontrolling interests 13 - - - -
Contributions from/to noncontrolling interests   - - - -
Changes in fair value of noncontrolling interests subject to put provisions 12 - - - -
Net income - - - -
Other comprehensive income (loss) 21 - - - -
Comprehensive income - - - -

Balance at December 31, 2012

  3,973,333 4,462 302,739,758 374,915
T. 2.5.1

Consolidated Statement of Shareholders’ Equity

in $ THOUS, except share data
 
  Note Additional paid in capital Retained earnings Accumu­-
lated other
compre­-
hensive
income
(loss)
Total
FMC AG &
Co. KGaA
share­-
holders’
equity
Noncon­-
trolling
interests
not subject
to put
provisions
Total Equity
See accompanying notes to consolidated financial statements.

Balance at December 31, 2010

  3,339,781 3,858,080 (194,045) 7,377,258 146,653 7,523,911
Proceeds from exercise of options and related tax effects 16 85,887 - - 88,546 - 88,546
Compensation expense related to stock options 16 29,071 - - 29,071 - 29,071
Dividends paid 13 - (280,649) - (280,649) - (280,649)
Purchase/sale of noncontrolling interests 13 (5,873) - - (5,873) 9,662 3,789
Contributions from/to noncontrolling interests   - - - - (59,066) (59,066)
Changes in fair value of noncontrolling interests subject to put provisions 12 (86,233) - - (86,233) - (86,233)
Net income   - 1,071,154 - 1,071,154 63,251 1,134,405
Other comprehensive income (loss) 21 - - (291,722) (291,722) (1,035) (292,757)
Comprehensive income   - - - 779,432 62,216 841,648

Balance at December 31, 2011

  3,362,633 4,648,585 (485,767) 7,901,552 159,465 8,061,017
               
Proceeds from exercise of options and related tax effects 16 110,510 - - 113,786 - 113,786
Compensation expense related to stock options 16 26,476 - - 26,476 - 26,476
Dividends paid 13 - (271,733) - (271,733) - (271,733)
Purchase/sale of noncontrolling interests 13 (26,918) - - (26,918) 86,705 59,787
Contributions from/to noncontrolling interests   - - - - (26,428) (26,428)
Changes in fair value of noncontrolling interests subject to put provisions 12 18,880 - - 18,880 - 18,880
Net income   - 1,186,809 - 1,186,809 45,450 1,232,259
Other comprehensive income (loss) 21 - - (6,346) (6,346) (438) (6,784)
Comprehensive income   - - - 1,180,463 45,012 1,225,475

Balance at December 31, 2012

  3,491,581 5,563,661 (492,113) 8,942,506 264,754 9,207,260

Please refer to the PDF file for the full Financial Report.