Tenet Healthcare Files Q3 2024 10-Q
Ticker: THC · Form: 10-Q · Filed: Oct 29, 2024 · CIK: 70318
Sentiment: neutral
Topics: 10-Q, healthcare, financials
TL;DR
Tenet Healthcare's Q3 2024 10-Q is in. Get the latest on hospital and surgery center performance.
AI Summary
Tenet Healthcare Corp. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial details for their hospital and ambulatory care segments. Key financial data and operational information for the period are detailed within the report.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Tenet Healthcare, crucial for understanding the company's current health and future prospects in the healthcare sector.
Risk Assessment
Risk Level: medium — As a publicly traded healthcare company, Tenet Healthcare is subject to regulatory, operational, and market risks inherent in the industry.
Key Numbers
- 2024-09-30 — Period End Date (This 10-Q covers financial data up to this date.)
- 2024-10-29 — Filing Date (The date the report was officially submitted to the SEC.)
- 2024 Q3 — Reporting Quarter (Indicates the financial quarter this report pertains to.)
Key Players & Entities
- TENET HEALTHCARE CORP (company) — Filer
- 2024-09-30 (date) — Period of Report
- 2024-10-29 (date) — Filing Date
- NATIONAL MEDICAL ENTERPRISES INC /NV/ (company) — Former Company Name
- NV (state) — State of Incorporation
- TX (state) — Business and Mail Address State
- 469-893-2200 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the period ending September 30, 2024.
What is the ticker symbol for Tenet Healthcare Corp?
While not explicitly stated in this header snippet, Tenet Healthcare Corp. is a publicly traded company, and its common stock is listed on the NYSE (exch:XNYS).
When was Tenet Healthcare Corp. formerly known as?
Tenet Healthcare Corp. was formerly known as NATIONAL MEDICAL ENTERPRISES INC /NV/.
What is the business address of Tenet Healthcare Corp?
The business address is 14201 DALLAS PARKWAY, DALLAS, TX 75254.
What is the fiscal year end for Tenet Healthcare Corp?
The fiscal year end for Tenet Healthcare Corp. is December 31.
Filing Stats: 4,598 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-10-29 16:06:37
Key Financial Figures
- $0.05 — ange on which registered Common stock, $0.05 par value THC New York Stock Exchange
Filing Documents
- thc-20240930.htm (10-Q) — 2529KB
- thc-20240930x10qxex31a.htm (EX-31.A) — 10KB
- thc-20240930x10qxex31b.htm (EX-31.B) — 10KB
- thc-20240930x10qxex32.htm (EX-32) — 5KB
- 0000070318-24-000052.txt ( ) — 12980KB
- thc-20240930.xsd (EX-101.SCH) — 83KB
- thc-20240930_cal.xml (EX-101.CAL) — 102KB
- thc-20240930_def.xml (EX-101.DEF) — 465KB
- thc-20240930_lab.xml (EX-101.LAB) — 947KB
- thc-20240930_pre.xml (EX-101.PRE) — 703KB
- thc-20240930_htm.xml (XML) — 2399KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Financial Statements 1 Notes to Condensed Consolidated Financial Statements 5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 54 Item 4.
Controls and Procedures
Controls and Procedures 54
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 55 Item 1A.
Risk Factors
Risk Factors 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 5. Other Information 55 Item 6. Exhibits 56 i Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS TENET HEALTHCARE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS Dollars in Millions, Share Amounts in Thousands (Unaudited) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 4,094 $ 1,228 Accounts receivable 2,598 2,914 Inventories of supplies, at cost 356 411 Assets held for sale 20 775 Other current assets 1,691 1,839 Total current assets 8,759 7,167 Investments and other assets 3,064 3,157 Deferred income taxes 36 77 Property and equipment, at cost, less accumulated depreciation and amortization ($ 5,714 at September 30, 2024 and $ 6,478 at December 31, 2023) 5,552 6,236 Goodwill 10,588 10,307 Other intangible assets, at cost, less accumulated amortization ($ 1,322 at September 30, 2024 and $ 1,447 at December 31, 2023) 1,373 1,368 Total assets $ 29,372 $ 28,312 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 95 $ 120 Accounts payable 1,265 1,408 Accrued compensation and benefits 879 930 Professional and general liability reserves 286 254 Accrued interest payable 248 200 Liabilities held for sale 12 69 Income tax payable 826 23 Other current liabilities 1,927 1,756 Total current liabilities 5,538 4,760 Long-term debt, net of current portion 12,776 14,882 Professional and general liability reserves 855 792 Defined benefit plan obligations 308 335 Deferred income taxes 260 326 Other long-term liabilities 1,560 1,709 Total liabilities 21,297 22,804 Commitments and contingencies Redeemable noncontrolling interests in equity of consolidated subsidiaries 2,649 2,391 Equity: Shareholders' equity: Common stock, $ 0.05 par value; authorized 262,500 shares; 157,982 shares issued at September 30, 2024 and 157,271 shares issued at December 31, 2023 8 8 Additional paid-in capital 4,849 4,834 Accumulated other comprehensive loss ( 175 ) ( 181 ) Retained earnings (accumulated deficit) 2,690 ( 192 ) Common sto