Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 11

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 11
---
 2025, we had $113 million of standby letters of credit outstanding under the LC Facility.

NOTE 6. GUARANTEES

At March 31, 2025, the maximum potential amount of future payments under our income guarantees to certain physicians who agree to relocate and revenue collection guarantees to hospital‑based physician groups providing certain services at our hospitals was $183 million. We had a total liability of $157 million recorded for these guarantees included in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at March 31, 2025.

9

At March 31, 2025, we also had issued guarantees of the indebtedness and other obligations of our investees to third parties, the maximum potential amount of future payments under which was approximately $90 million. Of the total, $24 million relates to the obligations of consolidated subsidiaries, which obligations were recorded in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at March 31, 2025.

NOTE 7. EMPLOYEE BENEFIT PLANS

The accompanying Condensed Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024 include $21 million and $17 million, respectively, of pre-tax compensation costs related to our stock‑based compensation arrangements.Stock OptionsAs of March 31, 2025, there were 186,497 stock options outstanding under our share-based compensation plans, which had a weighted average exercise price per share of $23.76. There was no activity related to our stock options during the three months ended March 31, 2025. During the three months ended March 31, 2024, 94,560 stock options were exercised with an aggregate intrinsic value of $8 million. Other than the exercise of these options, there was no activity related to our stock options during the three months ended March 31, 2024. All outstanding options were vested and exercisable at March 31, 2025, and the options collectively had an aggregate intrinsic value of $21 million.Restricted Stock UnitsThe following table presents information about our restricted stock unit (“RSU”) activity during the three months ended March 31, 2025:Number of RSUsWeighted AverageGrant Date Fair Value Per RSUUnvested at December 31, 20241,481,999 $83.84 Granted564,271 $137.33 Performance-based adjustment