Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 23

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 1,163 Reconciliation of Adjusted EBITDA:Depreciation and amortization(206)Impairment and restructuring charges, and acquisition-related costs(19)Litigation and investigation costs(17)Interest expense(204)Loss from early extinguishment of debt— Other non-operating income, net26 Gains on sales, consolidation and deconsolidation of facilities22 Income before income taxes$765 

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Three Months Ended March 31, 2024 Hospital OperationsAmbulatory CareTotalNet operating revenues$4,373 $995 $5,368 Equity in earnings of unconsolidated affiliates3 56 59 Less:Salaries, wages and benefits2,084 237 2,321 Supplies654 274 928 Other operating expenses, net1,008 146 1,154 Adjusted EBITDA$630 $394 1,024 Reconciliation of Adjusted EBITDA:Depreciation and amortization(208)Impairment and restructuring charges, and acquisition-related costs(27)Litigation and investigation costs(4)Interest expense(218)Loss from early extinguishment of debt(8)Other non-operating income, net25 Gains on sales, consolidation and deconsolidation of facilities2,500 Income before income taxes$3,084 Other operating expenses, net consists of various general and administrative expenses that are integral to supporting our operations. These expenses include, but are not limited to, medical fees, malpractice expense, information technology and software expenses, as well as gains or losses incurred from the disposition of long-lived assets.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

INTRODUCTION TO MANAGEMENT’S DISCUSSION AND ANALYSIS

The purpose of this section, Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”), is to provide a narrative explanation of our financial statements that enables investors to better understand our business, to enhance our overall financial disclosures, to give context to the analysis of our financial information, and to provide information about the quality of, and potential variability of, our financial condition, results of operations and cash flows. MD&A, which should be read in conjunction with the accompanying Condensed Consolidated Financial Statements, includes the following sections:

•Management Overview

•Forward-Looking Statements

•Sources of Revenue for Our Hospital Operations and Services Segment