Company: THC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000070318-25-000046
Chunk: 20

Company: TENET HEALTHCARE CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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12,327 $3,275 Equity in earnings of unconsolidated affiliates1 61 7 175 Operating expenses: Salaries, wages and benefits1,908 310 5,876 831 Supplies597 284 1,860 857 Other operating expenses, net944 167 2,931 482 Depreciation and amortization171 38 523 102 Impairment and restructuring charges, and acquisition-related costs7 12 37 38 Litigation and investigation costs8 1 17 1 Net gains on sales, consolidation and deconsolidation of facilities(330)(18)(2,803)(103)Operating income$683 $406 $3,893 $1,242 Net operating revenues100.0 %100.0 %100.0 %100.0 %Equity in earnings of unconsolidated affiliates— %5.4 %0.1 %5.3 %Operating expenses:Salaries, wages and benefits47.9 %27.2 %47.7 %25.4 %Supplies15.0 %24.9 %15.1 %26.2 %Other operating expenses, net23.7 %14.8 %23.8 %14.6 %Depreciation and amortization4.2 %3.3 %4.2 %3.1 %Impairment and restructuring charges, and acquisition-related costs0.2 %1.1 %0.3 %1.2 %Litigation and investigation costs0.2 %0.1 %0.1 %— %Net gains on sales, consolidation and deconsolidation of facilities(8.3)%(1.6)%(22.7)%(3.1)%Operating income17.1 %35.6 %31.6 %37.9 %

(1)Grant income is no longer significant enough to be presented separately and is now included in net operating revenues for the respective segment. Prior year ratios have been adjusted to reflect the resulting change in net operating revenues.

Consolidated net operating revenues increased $181 million, or 1.2%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024