Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 145

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 145
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2023January 1, 2022Census dateJanuary 1, 2024January 1, 2023January 1, 2022DMC Pension Plan Assumptions:   Discount rate5.25 %5.51 %2.89 %Long-term rate of return on assets5.00 %5.75 %5.00 %Compensation increase rateFrozenFrozenFrozenMeasurement dateJanuary 1, 2024January 1, 2023January 1, 2022Census dateJanuary 1, 2024January 1, 2023January 1, 2022Net periodic benefit costs for the current year are based on assumptions determined at the valuation date of the prior year for the SERPs and the DMC Pension Plan.We recorded gain (loss) adjustments of $(1) million, $(2) million and $72 million in other comprehensive income in the years ended December 31, 2024, 2023 and 2022, respectively, to recognize changes in the funded status of our SERPs and the DMC Pension Plan. Changes in the funded status are recorded as a direct increase or decrease to shareholders’ equity through accumulated other comprehensive loss. Net actuarial gains (losses) of $(9) million, $(9) million and $63 million were recognized during the years ended December 31, 2024, 2023 and 2022, respectively, and the amortization of net actuarial loss of $8 million, $7 million and $9 million for the years ended December 31, 2024, 2023 and 2022, respectively, were recognized in other comprehensive income. Actuarial gains (losses) affecting the benefit obligation during the year ended December 31, 2024 were primarily attributable to the return on plan assets for the DMC Pension Plan and changes in the discount rate utilized for the SERP and DMC Pension Plan. Actuarial gains (losses) affecting the benefit obligation during the years ended December 31, 2023 and 2022 were primarily attributable to changes in the discount rate utilized for the SERP and DMC Pension Plan. Cumulative net actuarial losses totaled $225 million, $224 million and $222 million as of December 31, 2024, 2023 and 2022, respectively. There were no unrecognized prior service costs at December