Company: THC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000070318-25-000039
Chunk: 60

Company: TENET HEALTHCARE CORP
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 months ended June 30, 2024. Key factors contributing to the change between the 2025 and 2024 periods included the following:

•An increase in net income before interest, taxes, depreciation and amortization, impairment and restructuring charges, acquisition‑related costs, litigation costs and settlements, loss from early extinguishment of debt, other non-operating income or expense, and net gains on sales, consolidation and deconsolidation of facilities of $315 million;

•Interest payments that were $60 million lower in the 2025 period; and

•The timing of working capital items.

Net cash used in investing activities was $501 million during the six months ended June 30, 2025 compared to net cash provided by investing activities of $3.134 billion during the six months ended June 30, 2024. The primary factors contributing to the change between the 2025 and 2024 periods were: (1) the 2024 period included proceeds of $4.048 billion, primarily from the sales of the SC Hospitals, the OCLA CA Hospitals and the Central CA Hospitals during 2024; (2) a $363 million decrease in payments for purchases of businesses or joint venture interests in the 2025 period; and (3) capital expenditures that were $19 million lower during the three months ended June 30, 2025 compared to the same period in 2024.

Net cash used in financing activities was $1.644 billion and $2.815 billion during the six months ended June 30, 2025 and 2024, respectively. The primary factors contributing to the change between the 2025 and 2024 periods were: (1) the six‑month period in 2024 included our redemption of all $2.100 billion aggregate principal amount then‑outstanding of our 4.875% senior secured first lien notes due 2026 in advance of their maturity date; (2) we made payments totaling $1.095 billion to repurchase 7,230 thousand shares of our common stock under our share repurchase program during 2025, an increase of $547 million over the same period in 2024; and (3) we received advances totaling $342 million from managed care payers during the six months ended June 30, 2024.

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DEBT INSTRUMENTS,