Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 124

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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March 31, 2025Net revenues6.8 %Cases(2.1)%Net revenue per case9.1 %

Facility Acquisitions and Investment

We commenced operations at two de novo ASCs during the three months ended March 31, 2025. During the same period, we paid an aggregate of $17 million to acquire controlling ownership interests in four ASCs in which we did not have a prior investment, as well as three previously unconsolidated facilities. In addition, we ceased operations at four ASCs during the three months ended March 31, 2025.

Consolidated

Impairment and Restructuring Charges, and Acquisition-Related Costs

The following table presents our impairment and restructuring charges, and acquisition‑related costs:

Three Months Ended March 31,20252024Consolidated:  Impairment charges$— $1 Restructuring charges15 14 Acquisition-related costs4 12 Total impairment and restructuring charges, and acquisition-related costs$19 $27 By segment:Hospital Operations$9 $15 Ambulatory Care10 12 Total impairment and restructuring charges, and acquisition-related costs$19 $27 

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Restructuring charges during the three months ended March 31, 2025 included $7 million of contract and lease termination fees, $3 million of legal costs related to the sale of certain businesses, $3 million related to the transition of various administrative functions to our GBC and $2 million of employee severance costs.

During the three months ended March 31, 2024, restructuring charges consisted of $7 million of legal costs related to the sale of certain businesses, $3 million related to the transition of various administrative functions to our GBC and $4 million of other restructuring costs. 

Acquisition-related costs incurred during both the three months ended March 31, 2025 and 2024 consisted entirely of transaction costs.

Litigation and Investigation Costs

Litigation and investigation costs totaled $17 million during the three months ended March 31, 2025 and $4 million for the same period in 2024.

Net Gains on Sales, Consolidation and Deconsolidation of Facilities

We recorded gains from the sale, consolidation and deconsolidation of facilities totaling $22 million during the three months ended March 31, 2025, including $10 million related to post‑