Company: THC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000070318-25-000039
Chunk: 165

Company: TENET HEALTHCARE CORP
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 165
---
 or when using different assumptions. Our critical accounting estimates cover the following areas:

•Recognition of net operating revenues, including contractual allowances and implicit price concessions;

•Accruals for general and professional liability risks;

•Impairment of long‑lived assets;

•Impairment of goodwill; and

•Accounting for income taxes.

Additional discussion of our critical accounting estimates is provided in our Annual Report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The following table presents information about certain of our market-sensitive financial instruments at June 30, 2025. The fair values were determined based on quoted market prices for the same or similar instruments. The average effective interest rates presented are based on the rate in effect at the end of the reporting period. The effects of unamortized discounts and issue costs are excluded from the table.

 Maturity Date, Years Ending December 31, 20252026202720282029ThereafterTotalFair Value (Dollars in Millions)Fixed-rate long-term debt$47 $74 $3,115 $3,142 $1,428 $5,453 $13,259 $13,158 Average effective interest rates7.1 %7.5 %5.8 %5.9 %4.3 %6.0 %5.7 %

We have no affiliation with partnerships, trusts or other entities (sometimes referred to as “special-purpose” or “variable-interest” entities) whose purpose is to facilitate off-balance sheet financial transactions or similar arrangements by us. As a result, we have no exposure to the financing, liquidity, market or credit risks associated with such entities. We do not hold or issue derivative instruments for trading purposes and are not a party to any instruments with leverage or prepayment features.

ITEM 4. CONTROLS AND PROCEDURES

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as defined by Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this report. The evaluation was performed under the supervision and with the participation of management, including our chief executive officer and chief financial officer. Based upon that evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are effective