Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 11

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 11
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 months ended December 31, 2024 compared to the three months ended December 31, 2023. Excluding the impact of the sales of the Divested Hospitals, supplies expense per adjusted admission increased 8.1% during the three‑month period in 2024 as compared to the same period in 2023. This increase was primarily attributable to the factors discussed above.

Other operating expenses for our Hospital Operations segment decreased by $141 million, or 13.4%, in the three months ended December 31, 2024 compared to the same period in 2023, primarily due to the sales of the Divested Hospitals. Excluding the effect of these divestitures, other operating expenses increased by $48 million, or 5.5%, during the three‑month period in 2024. The changes in other operating expenses during the three months ended December 31, 2024 included:

•a $25 million increase in medical fees;

•indigent care expense that was $8 million higher;

•a $6 million increase in legal and consulting fees; and

•a decrease of $27 million in malpractice expense.

On a per adjusted admission basis, other operating expenses during the three months ended December 31, 2024 increased by 2.2% compared to the same period in 2023. Excluding the impact of the sales of the Divested Hospitals, other operating expenses per adjusted admission increased by 1.9%.

LIQUIDITY AND CAPITAL RESOURCES OVERVIEW

Cash and cash equivalents were $3.019 billion at December 31, 2024 compared to $4.094 billion at September 30, 2024.

Significant cash flow items in the three months ended December 31, 2024 included:

•Net cash provided by operating activities before interest, taxes, discontinued operations, impairment and restructuring charges, and acquisition‑related costs, and litigation costs and settlements of $962 million;

•Income tax payments totaling $963 million;

•Capital expenditures of $330 million;

•Interest payments of $296 million;

•$185 million of distributions paid to noncontrolling interests; and

•Repayments of advances received from managed care payers totaling $150 million.

Net cash provided by operating activities was $2.047 billion in the year ended December 31, 2024 compared to $2.374 billion in the year ended December 31, 2023. Key factors contributing to