Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 51

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 51
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 invest at least $250 million annually in ambulatory business acquisitions and de novo facilities. Capital expenditures were $931 million, $751 million and $762 million in the years ended December 31, 2024, 2023 and 2022, respectively. We anticipate that our capital expenditures for the year ending December 31, 2025 will total approximately $700 million to $800 million, including $127 million that was accrued as a liability at December 31, 2024.

In July 2024, we opened the newly constructed, 92‑bed Westover Hills Baptist Hospital in San Antonio. In addition, we continued construction in 2024 on a new medical campus located in Port St. Lucie, which will include the 54‑bed Florida Coast Surgical Hospital, as well as medical office space. We expect to complete construction in late 2025, and we estimate total costs will amount to $191 million over the project period.

By the beginning of 2030, all hospitals in California providing acute care services must meet standards that are intended to ensure that they remain intact and capable of continued operation following an earthquake. We began analyzing the nonstructural performance category (“NPC”) seismic requirements for our hospitals in California in 2022 and completed the analysis in 2023. This analysis, which identified the NPC work required to be completed in future years to bring our hospitals in 

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compliance with the building requirements by the 2030 deadline, was submitted to the State for review at the end of 2023. Since that time, we have sold six California hospitals.

We have initiated the design phase for the structural performance category improvements required by the 2030 deadline. These efforts will be specific to each facility and will involve material testing activities. The results of this engineering and architectural work, in combination with the previously identified NPC requirements, will inform our budgeting and planning processes. At this time, we are unable to estimate the cost of this work.

Income Taxes—Income tax payments, net of tax refunds, were $1.271 billion and $243 million in the years ended December 31, 2024 and 2023, respectively. Of the income tax payments made during the year ended December 31, 2024, $855 million was attributable to income tax obligations arising from our sales of the Divested Hospitals. At December 31, 2024, our carryforwards available to offset future taxable income consisted of