Company: THC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000070318-25-000039
Chunk: 23

Company: TENET HEALTHCARE CORP
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 infrequently occurring discrete items) for the reporting period. In calculating “ordinary” income, non‑taxable income available to noncontrolling interests was deducted from pre-tax income. During the six months ended June 30, 2025, we recorded an income tax benefit of $6 million to decrease the valuation allowance, including an increase of $1 million related to interest expense carryforwards and a decrease of $7 million related to a change in realizability of deferred tax assets. During the six months ended June 30, 2024, we recorded an income tax benefit of $178 million to decrease the valuation allowance, including a decrease of $194 million for utilization of interest expense carryforwards primarily due to gains from sales of facilities, and an increase of $16 million related to state interest expense carryforwards. There were no adjustments to our estimated liabilities for uncertain tax positions during the six months ended June 30, 2025. The total amount of unrecognized tax benefits as of June 30, 2025 was $71 million, of which $69 million, if recognized, would affect our effective tax rate and income tax benefit.Our practice is to recognize interest and penalties related to income tax matters in income tax expense in our condensed consolidated statements of operations. Approximately $2 million of interest and penalties related to accrued liabilities for uncertain tax positions are included for the six months ended June 30, 2025. Total accrued interest and penalties on unrecognized tax benefits at June 30, 2025 were $10 million.

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NOTE 14. EARNINGS PER COMMON SHARE

The following table reconciles the numerators and denominators of our basic and diluted earnings per common share calculations. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands. Net Income Available to CommonShareholders(Numerator)Weighted Average Shares(Denominator)Per-Share AmountThree Months Ended June 30, 2025   Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share$288 91,135 $3.16 Effect of dilutive instruments— 656 (0.02)Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share$288 91,791 $3.14 Three Months Ended June 30, 2024   Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share$259 97,