Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 72

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 72
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 to 26.6% for the three months ended March 31, 2025 from 27.5% for the same period in 2024.

Other Operating Expenses, Net

Other operating expenses increased by $33 million, or 22.6%, during the three months ended March 31, 2025 compared to the same period in 2024. The change was driven by a $28 million increase from acquisitions, net of the impact of facility closures, and a $5 million increase in same‑facility other operating expenses. Other operating expenses as a percentage of net operating revenues for the three months ended March 31, 2025 did not change significantly from the three months ended March 31, 2024.

Facility Growth

The following table presents the year-over-year changes in our revenue and cases on a same‑facility systemwide basis:

Three Months EndedMarch 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