Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 130

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 130
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-of-use assets obtained in exchange for lease obligations:Operating leases$292 $168 $341 Finance leases$363 $55 $97 Future maturities of lease liabilities at December 31, 2024 are presented in the following table:Operating LeasesFinance LeasesTotal2025$261 $63 $324 2026230 38 268 2027203 116 319 2028168 26 194 2029133 25 158 Later years397 547 944 Total lease payments1,392 815 2,207 Less: Imputed interest238 371 609 Total lease obligations1,154 444 1,598 Less: Current obligations204 54 258 Long-term lease obligations$950 $390 $1,340 In May 1997, we entered into a 30‑year lease agreement for a medical campus located in Palm Springs, California. In December 2024, we executed a lease-purchase agreement to establish a new 30‑year lease beginning upon the expiration of the original lease in May 2027. This agreement includes an initial payment of $100 million at the start of the new lease term, followed by 19 annual escalating lease payments. Following our remittance of a final payment of $100 million in May 2057, ownership of certain of the leased facilities and land will transfer to us. We recognized a $303 million right‑of‑use asset and a long-term finance lease liability in the same amount in connection with the lease-purchase agreement.

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NOTE 8. LONG-TERM DEBT

The table below presents our long‑term debt included in the accompanying Consolidated Balance Sheets:December 31, 20242023Senior unsecured notes:  6.125% due 2028$2,500 $2,500 6.875% due 2031362 362 Senior secured first lien notes:  4.875% due 2026— 2,100 5.125% due 20271,500 1,500 4.625% due 2028600 600 4.250% due 20291,400 1,400 4.375% due 20301,450 1,450 6.125% due 20302,000 2,000 6.750% due 203