Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 156

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 156
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  1,287 254 135 Deferred tax expense (benefit):   Federal(92)55 174 State(11)(3)35  (103)52 209  $1,184 $306 $344 

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Table of Contents

A reconciliation between the amount of reported income tax expense and the amount computed by multiplying income before income taxes by the statutory federal tax rate is presented below. Foreign pre-tax loss was $3 million for both of the years ended December 31, 2024 and 2023, and $8 million for the year ended December 31, 2022. Years Ended December 31, 202420232022Tax expense at statutory federal rate of 21%$1,102 $340 $282 State income taxes, net of federal income tax benefit288 70 64 Tax benefit attributable to noncontrolling interests(181)(147)(122)Nondeductible goodwill161 — 1 Nondeductible executive compensation7 6 10 Impact of change in state filing method, net of change in unrecognized tax benefit— (20)— Stock-based compensation tax benefit(9)(2)(6)Changes in valuation allowance(182)71 120 Prior-year provision to return adjustments and other changes in deferred taxes(1)(9)(12)Other items(1)(3)7 Income tax expense$1,184 $306 $344 Deferred income taxes reflect the tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amount used for income tax purposes. The following table presents those significant components of our deferred tax assets and liabilities, including any valuation allowance: December 31, 2024December 31, 2023 AssetsLiabilitiesAssetsLiabilitiesDepreciation and fixed-asset differences$— $373 $— $430 Reserves related to restructuring charges4 — 6 — Receivables (doubtful accounts and adjustments)245 — 222 — Accruals for retained insurance risks253 — 232 — Intangible assets— 504 — 429 Other long-term liabilities34 — 32 — Benefit plans235 — 233 — Other accrued liabilities50 — 20 — Investments and other assets— 160 — 119