Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 47

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 47
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 of long-term debt, we expect to use net cash generated from operating activities or cash on hand to satisfy the below obligations. We also have the ability to use borrowings under our Credit Agreement. Long‑term debt maturities may be refinanced or repaid using net cash generated from operating activities or from the proceeds from sales of facilities.

 TotalYears Ended December 31,Thereafter 20252026202720282029 (In Millions)Long-term debt(1)$16,066 $756 $754 $3,701 $3,659 $1,744 $5,452 Finance lease obligations(1)815 63 38 116 26 25 547 Long-term non-cancelable operating lease obligations1,392 261 230 203 168 133 397 Academic teaching services420 70 70 70 70 70 70 Defined benefit plan obligations435 24 24 23 23 22 319 Information technology services contracts918 232 216 154 120 118 78 Purchase orders404 404 — — — — — Total$20,450 $1,810 $1,332 $4,267 $4,066 $2,112 $6,863 

(1)Amounts include both principal and interest.

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Table of Contents

Long-term Debt—Our Credit Agreement, which has a scheduled maturity date of March 16, 2027, provides for revolving loans in an aggregate principal amount of up to $1.500 billion with a $200 million subfacility for standby letters of credit. Our borrowing availability is based on a specified percentage of eligible inventory and accounts receivable. At December 31, 2024, we had no cash borrowings outstanding under the Credit Agreement, and we had less than $1 million of standby letters of credit outstanding.

At December 31, 2024, we had outstanding senior unsecured notes and senior secured notes with an aggregate principal balance of $12.662 billion, the maturity dates of which are staggered from 2027 through 2031. In March 2024, we redeemed all $2.100 billion aggregate principal amount outstanding of our 2026 Senior Secured First Lien Notes in advance of their maturity date. We paid $2.100 billion using cash on hand to redeem