Debt expense (54,505) (62,715) (168,891) (194,496)
Other income 2,481 6,278 10,331 17,131
Income before income
taxes 155,860 155,975 451,605 489,581
Income tax expense 61,950 61,520 175,810 193,520
Net income $93,910 $94,455 $275,795 $296,061
Earnings per share:
Basic earnings per
share $0.90 $0.89 $2.61 $2.80
Diluted earnings per
share $0.89 $0.88 $2.59 $2.76
Weighted average shares
for earnings per share:
Basic 104,556,770 106,171,473 105,569,971 105,558,536
Diluted 105,577,823 107,561,139 106,421,184 107,129,135
DAVITA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(dollars in thousands)
Nine months ended
September 30,
2008 2007
Cash flows from operating activities:
Net income $275,795 $296,061
Adjustments to reconcile net income to cash
provided by operating activities:
Depreciation and amortization 160,673 142,078
Valuation gain on alliance and product supply
agreement - (55,275)
Stock-based compensation expense 29,975 25,260
Tax benefits from stock award exercises 10,174 27,000
Excess tax benefits from stock award exercises (5,0
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