Company: THC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000070318-25-000046
Chunk: 154

Company: TENET HEALTHCARE CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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23 19 66 75 Litigation and investigation costs (benefit)(11)9 34 18 Net gains on sales, consolidation and deconsolidation of facilities(20)(348)(4)(2,906)Operating income$889 $1,089 $2,655 $5,135 Net operating revenues100.0 %100.0 %100.0 %100.0 %Equity in earnings of unconsolidated affiliates1.2 %1.2 %1.1 %1.2 %Operating expenses:Salaries, wages and benefits41.7 %43.3 %41.1 %43.0 %Supplies17.6 %17.2 %17.6 %17.4 %Other operating expenses, net21.2 %21.6 %21.0 %21.9 %Depreciation and amortization4.1 %4.1 %4.0 %4.0 %Impairment and restructuring charges, and acquisition-related costs0.4 %0.4 %0.4 %0.5 %Litigation and investigation costs (benefit)(0.2)%0.2 %0.2 %0.1 %Net gains on sales, consolidation and deconsolidation of facilities(0.4)%(6.8)%— %(18.6)%Operating income16.8 %21.2 %16.8 %32.9 %

(1)Grant income is no longer significant enough to be presented separately and is now included in net operating revenues for the respective segment. Prior year ratios have been adjusted to reflect the resulting change in net operating revenues.

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The following tables present our net operating revenues, operating expenses and operating income, both in dollar amounts and as percentages of net operating revenues, by segment on a continuing operations basis:

Three Months EndedSeptember 30, 2025Nine Months EndedSeptember 30, 2025Hospital OperationsAmbulatory CareHospital OperationsAmbulatory CareNet operating revenues $4,014 $1,275 $12,044 $3,739 Equity in earnings of unconsolidated affiliates1 63 5 176 Operating expenses:  Salaries, wages and benefits1,888 316 5,558 925 Supplies