Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 105

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 105
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 borrowings(2,243)(1,542)(2,851)Proceeds from borrowings23 1,370 2,023 Repurchases of common stock(672)(200)(250)Debt issuance costs— (16)(24)Distributions paid to noncontrolling interests(681)(594)(560)Proceeds from the sale of noncontrolling interests23 43 27 Purchases of noncontrolling interests(200)(167)(100)Advances from managed care payers342 — — Repayments of advances from managed care payers(310)— — Other items, net33 71 (46)Net cash used in financing activities(3,685)(1,035)(1,781)Net increase (decrease) in cash and cash equivalents1,791 370 (1,506)Cash and cash equivalents at beginning of period1,228 858 2,364 Cash and cash equivalents at end of period$3,019 $1,228 $858 Supplemental disclosures:   Interest paid, net of capitalized interest$(851)$(882)$(848)Income tax payments, net$(1,271)$(243)$(161)

See accompanying Notes to Consolidated Financial Statements.

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Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1. SIGNIFICANT ACCOUNTING POLICIES

Description of BusinessTenet Healthcare Corporation (together with our subsidiaries, referred to herein as “Tenet,” “we” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Our expansive, nationwide care delivery network consists of our Hospital Operations and Ambulatory Care segments. As of December 31, 2024, our Hospital Operations segment was comprised of 49 acute care and specialty hospitals, a network of employed physicians and 135 outpatient facilities, including urgent care centers (each, a “UCC”), imaging centers, off-campus hospital emergency departments and micro‑hospitals. Our Ambulatory Care segment is comprised of the operations of our subsidiary USPI Holding Company, Inc. (“USPI”), which held indirect ownership interests in 518 ambulatory surgery centers and 25 surgical hospitals at December 31, 2024. USPI held noncontrolling interests in 161 of these facilities, which are recorded using the equity method of accounting. In addition, we operate a Global Business Center (“GBC”) in the Philippines.

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