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Investments in Unconsolidated Affiliates
6 Months Ended
Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Affiliates
Investments in Unconsolidated Affiliates

Investments in unconsolidated affiliates in which the Company exerts significant influence but does not control or otherwise consolidate are accounted for using the equity method. Equity method investments are initially recorded at cost, unless such investments are a result of the Company entering into a transaction whereby the Company loses control of a previously controlled entity but retains a noncontrolling interest. Such transactions, which result in the deconsolidation of a previously consolidated entity, are measured at fair value. These investments are included as investments in unconsolidated affiliates in the accompanying consolidated balance sheets. The Company’s share of the profits and losses from these investments is reported in equity in earnings of unconsolidated affiliates in the accompanying consolidated statements of earnings. The Company monitors its investments for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the companies and records reductions in carrying values when necessary.

As of June 30, 2015 and December 31, 2014, the Company has recorded in the accompanying consolidated balance sheets its investments in unconsolidated affiliates of $83.7 million and $75.5 million, respectively. The Company's net earnings from these investments during the three and six months ended June 30, 2015 were approximately $4.0 million and $6.6 million, respectively, and during the three and six months ended June 30, 2014 were approximately $0.5 million and $1.3 million, respectively.

During the six months ended June 30, 2015, the Company's ambulatory services segment entered into a transaction whereby it contributed its controlling interest in one center in exchange for a noncontrolling interest in an entity that owned one ASC prior to the transaction and, after the completion of the transaction, controls the contributed center and the center it previously owned. During the six months ended June 30, 2015, the Company's physician services segment contributed one site of service into an entity jointly owned by the Company and a health system. During the six months ended June 30, 2014, the Company's ambulatory services segment entered into certain transactions whereby it contributed its controlling interests in four centers in exchange for $1.7 million and noncontrolling interests in three separate entities each jointly owned by a health system that, after the completion of the transactions, controls the contributed centers.

As a result of these transactions, for the six months ended June 30, 2015 and 2014, the Company recorded approximately $2.3 million and $6.5 million, respectively, in the accompanying consolidated balance sheets, as a component of investments in unconsolidated affiliates, the fair value of the Company's investment in these entities.

In each of these transactions, the gain or loss on deconsolidation was determined based on the difference between the fair value of the Company’s interest, which is based on estimates of the expected future earnings, in the new entity and the carrying value of both the tangible and intangible assets of the contributed centers or contracts immediately prior to each transaction. Accordingly, the Company recognized a net loss on deconsolidation in the accompanying consolidated statements of earnings of approximately $3.0 million and $3.3 million, respectively, during the three and six months ended June 30, 2015, which primarily resulted from the disposal of $5.2 million of goodwill and intangibles. During the three and six months ended June 30, 2014, the Company recognized a net gain on deconsolidation of approximately $1.4 million and $3.4 million, respectively.