Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 155

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 155
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 income473 366 Distributions paid to noncontrolling interests(369)(305)Accretion of redeemable noncontrolling interests5 — Purchases and sales of businesses and noncontrolling interests, net227 181 Balances at end of period $2,727 $2,391 The divestiture of the AL Hospitals during the year ended December 31, 2024 resulted in a decrease of $175 million in our redeemable noncontrolling interest balance during the same period. The following tables present the composition by segment of our redeemable noncontrolling interests balances, as well as our net income available to redeemable noncontrolling interests:December 31, 20242023Hospital Operations$800 $860 Ambulatory Care1,927 1,531 Redeemable noncontrolling interests$2,727 $2,391  Years Ended December 31, 202420232022Hospital Operations$100 $84 $100 Ambulatory Care373 282 248 Net income available to redeemable noncontrolling interests$473 $366 $348 We had a put/call agreement (“Baylor Put/Call Agreement”) with Baylor University Medical Center (“Baylor”) that contained put and call options with respect to the 5% voting ownership interest Baylor previously held in USPI. In June 2022, we entered into a share purchase agreement to acquire Baylor’s 5% ownership interest in USPI for $406 million. Under the share purchase agreement, we are obligated to make non-interest-bearing monthly payments of approximately $11 million through June 2025. At December 31, 2024, the remaining obligation under the share purchase agreement of $68 million was classified as a current liability and included in other current liabilities in the accompanying Consolidated Balance Sheet. At December 31, 2023, we had a liability of $135 million recorded in other current liabilities for the purchase of Baylor’s ownership interest and $63 million recorded in other long‑term liabilities in the accompanying Consolidated Balance Sheet.

NOTE 19. INCOME TAXES

The provision for income taxes for the years ended December 31, 2024, 2023 and 2022 consisted of the following: Years Ended December 31, 202420232022Current tax expense:   Federal$926 $208 $78 State361 46 57