Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 126

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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4 was primarily related to the utilization of interest expense carryforwards primarily due to gains from sales of facilities. 

33

Net Income Available to Noncontrolling Interests

The table below presents net income available to noncontrolling interests by segment for the periods indicated:

Three Months Ended March 31,20252024Hospital Operations$39 $30 Ambulatory Care177 153 Total net income available to noncontrolling interests$216 $183 

LIQUIDITY AND CAPITAL RESOURCES

CASH REQUIREMENTS

There have been no material changes to our obligations to make future cash payments under scheduled contractual obligations, such as debt and lease agreements, and under contingent commitments, such as standby letters of credit and minimum revenue guarantees, as disclosed in our Annual Report, except for the matters set forth below and the additional lease obligations disclosed in Note 1 to our accompanying Condensed Consolidated Financial Statements.

Long-Term Debt

Interest payments, net of capitalized interest, were $99 million and $162 million in the three months ended March 31, 2025 and 2024, respectively.

Other Cash Requirements

Our capital expenditures primarily relate to the expansion and renovation of existing facilities, hospital expansion focused on higher acuity services, equipment and information systems additions and replacements, introduction of new medical technologies, design and construction of new facilities, and various other capital improvements. Capital expenditures were $173 million and $240 million in the three months ended March 31, 2025 and 2024, respectively. We anticipate that our capital expenditures for the year ending December 31, 2025 will total approximately $770 million to $780 million, including $127 million that was accrued as a liability at December 31, 2024.

We made income tax payments, net of tax refunds, of $7 million during the three months ended March 31, 2025 and $5 million during the three months ended March 31, 2024. The current portion of our income tax payable was $149 million at March 31, 2025 and $18 million at December 31, 2024.

SOURCES AND USES OF CASH

Our liquidity for the three months ended March 31, 2025 was primarily derived from net cash provided by operating activities and cash on hand. Our primary source of operating cash is the collection of accounts receivable. As such, our operating cash flow is impacted by levels of cash collections, as well