TENET HEALTHCARE CORP, 10-Q filed on 7/30/2024
Quarterly Report
v3.24.2
Cover Page - shares
shares in Thousands
 6 Months Ended
Jun. 30, 2024
Jul. 24, 2024
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Entity File Number 1-7293  
Entity Registrant Name TENET HEALTHCARE CORP  
Entity Incorporation, State or Country Code NV  
Entity Tax Identification Number 95-2557091  
Entity Address, Address Line One 14201 Dallas Parkway  
Entity Address, City or Town Dallas  
Entity Address, State or Province TX  
Entity Address, Postal Zip Code 75254  
City Area Code 469  
Local Phone Number 893-2200  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   95,822
Entity Central Index Key 0000070318  
Current Fiscal Year End Date --12-31  
Document Period End Date Jun. 30, 2024  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Common stock, $0.05 par value | New York Stock Exchange    
Document Information [Line Items]    
Title of 12(b) Security Common stock, $0.05 par value  
Trading Symbol THC  
Security Exchange Name NYSE  
6.875% Senior Notes due 2031 | New York Stock Exchange    
Document Information [Line Items]    
Title of 12(b) Security 6.875% Senior Notes due 2031  
Trading Symbol THC31  
Security Exchange Name NYSE  
v3.24.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 2,880 $ 1,228
Accounts receivable 2,817 2,914
Inventories of supplies, at cost 382 411
Assets held for sale 21 775
Other current assets 1,855 1,839
Total current assets  7,955 7,167
Investments and other assets 3,156 3,157
Deferred income taxes 85 77
Property and equipment, at cost, less accumulated depreciation and amortization ($6,016 at June 30, 2024 and $6,478 at December 31, 2023) 5,857 6,236
Goodwill 10,799 10,307
Other intangible assets, at cost, less accumulated amortization ($1,331 at June 30, 2024 and $1,447 at December 31, 2023) 1,413 1,368
Total assets  29,265 28,312
Current liabilities:    
Current portion of long-term debt 102 120
Accounts payable 1,270 1,408
Accrued compensation and benefits 788 930
Professional and general liability reserves 283 254
Accrued interest payable 149 200
Liabilities held for sale 11 69
Income tax payable 715 23
Other current liabilities 2,175 1,756
Total current liabilities  5,493 4,760
Long-term debt, net of current portion 12,769 14,882
Professional and general liability reserves 844 792
Defined benefit plan obligations 334 335
Deferred income taxes 245 326
Other long-term liabilities 1,711 1,709
Total liabilities  21,396 22,804
Commitments and contingencies
Redeemable noncontrolling interests in equity of consolidated subsidiaries 2,813 2,391
Shareholders’ equity:    
Common stock, $0.05 par value; authorized 262,500 shares; 157,930 shares issued at June 30, 2024 and 157,271 shares issued at December 31, 2023 8 8
Additional paid-in capital 4,840 4,834
Accumulated other comprehensive loss (177) (181)
Retained earnings (accumulated deficit) 2,218 (192)
Common stock in treasury, at cost, 62,111 shares at June 30, 2024 and 57,321 shares at December 31, 2023 (3,414) (2,861)
Total shareholders’ equity 3,475 1,608
Noncontrolling interests  1,581 1,509
Total equity  5,056 3,117
Total liabilities and equity  $ 29,265 $ 28,312
v3.24.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Jun. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Property and equipment, accumulated depreciation and amortization $ 6,016 $ 6,478
Accumulated amortization $ 1,331 $ 1,447
Common stock, par value (in dollars per share) $ 0.05 $ 0.05
Common stock, authorized shares (in shares) 262,500 262,500
Common stock, shares issued (in shares) 157,930 157,271
Common stock in treasury (in shares) 62,111 57,321
v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Net operating revenues  $ 5,103 $ 5,082 $ 10,471 $ 10,103
Grant income 5 8 5 11
Equity in earnings of unconsolidated affiliates 61 54 120 104
Operating expenses:        
Salaries, wages and benefits 2,168 2,285 4,489 4,543
Supplies 908 891 1,836 1,782
Other operating expenses, net 1,148 1,125 2,302 2,218
Depreciation and amortization 208 213 416 430
Impairment and restructuring charges, and acquisition-related costs 29 16 56 37
Litigation and investigation costs 5 10 9 14
Net gains on sales, consolidation and deconsolidation of facilities (58) 0 (2,558) (13)
Operating income 761 604 4,046 1,207
Interest expense (203) (226) (421) (447)
Other non-operating income, net 29 6 54 4
Loss from early extinguishment of debt 0 (11) (8) (11)
Income before income taxes 587 373 3,671 753
Income tax expense (110) (80) (860) (164)
Net income 477 293 2,811 589
Less: Net income available to noncontrolling interests 218 170 401 323
Net income available to Tenet Healthcare Corporation common shareholders $ 259 $ 123 $ 2,410 $ 266
Earnings per share available to Tenet Healthcare Corporation common shareholders:        
Basic earnings per share ((in dollars per share) $ 2.66 $ 1.21 $ 24.49 $ 2.61
Diluted earnings per share (in dollars per share) $ 2.64 $ 1.15 $ 24.22 $ 2.47
Weighted average shares and dilutive securities outstanding (in thousands):        
Basic (in shares) 97,267 101,766 98,424 102,028
Diluted (in shares) 98,444 104,778 99,557 105,354
v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 477 $ 293 $ 2,811 $ 589
Other comprehensive income:        
Amortization of net actuarial loss included in other non-operating income, net 2 2 4 4
Foreign currency translation adjustments and other 0 0 1 0
Other comprehensive income before income taxes 2 2 5 4
Income tax expense related to items of other comprehensive income 0 (1) (1) (1)
Total other comprehensive income, net of tax 2 1 4 3
Comprehensive net income 479 294 2,815 592
Less: Comprehensive income available to noncontrolling interests 218 170 401 323
Comprehensive income available to Tenet Healthcare Corporation common shareholders $ 261 $ 124 $ 2,414 $ 269
v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of Cash Flows [Abstract]    
Net income $ 2,811 $ 589
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 416 430
Deferred income tax expense (benefit) (93) 37
Stock-based compensation expense 36 33
Impairment and restructuring charges, and acquisition-related costs 56 37
Litigation and investigation costs 9 14
Net gains on sales, consolidation and deconsolidation of facilities (2,558) (13)
Loss from early extinguishment of debt 8 11
Equity in earnings of unconsolidated affiliates, net of distributions received (3) 7
Amortization of debt discount and debt issuance costs 14 18
Net gains from the sale of investments and long-lived assets (1) (15)
Other items, net (3) (3)
Changes in cash from operating assets and liabilities:    
Accounts receivable 77 7
Inventories and other current assets 16 160
Income taxes 713 (31)
Accounts payable, accrued expenses and other current liabilities (124) (168)
Other long-term liabilities 23 12
Payments for restructuring charges, acquisition-related costs, and litigation costs and settlements (64) (78)
Net cash provided by operating activities 1,333 1,047
Cash flows from investing activities:    
Purchases of property and equipment (385) (367)
Purchases of businesses or joint venture interests, net of cash acquired (510) (96)
Proceeds from sales of facilities and other assets 4,048 16
Proceeds from sales of marketable securities and long-term investments 17 26
Purchases of marketable securities and long-term investments (26) (37)
Other items, net (10) (9)
Net cash provided by (used in) investing activities 3,134 (467)
Cash flows from financing activities:    
Repayments of borrowings (2,179) (1,437)
Proceeds from borrowings 8 1,362
Repurchases of common stock (548) (90)
Debt issuance costs 0 (15)
Distributions paid to noncontrolling interests (323) (270)
Proceeds from the sale of noncontrolling interests 10 30
Purchases of noncontrolling interests (88) (79)
Advances from managed care payers 342 0
Other items, net (37) (5)
Net cash used in financing activities (2,815) (504)
Net increase in cash and cash equivalents 1,652 76
Cash and cash equivalents at beginning of period 1,228 858
Cash and cash equivalents at end of period 2,880 934
Supplemental disclosures:    
Interest paid, net of capitalized interest (459) (445)
Income tax payments, net $ (240) $ (158)
v3.24.2
BASIS OF PRESENTATION
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
Description of Business and Basis of Presentation
Tenet Healthcare Corporation (together with our subsidiaries, referred to herein as “Tenet,” “we” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Prior to December 31, 2023, our business was organized into three separate reporting segments: Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended December 31, 2023, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (“Hospital Operations”). The results of the revenue cycle management and value-based care services we provide to hospitals, health systems, physician practices, employers and other clients previously reported under our Conifer segment are now combined with our Hospital Operations segment. See below for additional discussion of this change.
Our expansive, nationwide care delivery network now consists of our Hospital Operations and Ambulatory Care segments. As of June 30, 2024, our Hospital Operations segment was comprised of 52 acute care and specialty hospitals, a network of employed physicians and 148 outpatient facilities, including imaging centers, urgent care centers (each, a “UCC”), ancillary emergency facilities and micro‑hospitals. Our Ambulatory Care segment is comprised of the operations of our subsidiary USPI Holding Company, Inc. (“USPI”), which held indirect ownership interests in 520 ambulatory surgery centers and 24 surgical hospitals at June 30, 2024. USPI held noncontrolling interests in 160 of these facilities, which are recorded using the equity method of accounting. In addition, we operate a Global Business Center (“GBC”) in Manila, Philippines.
This quarterly report supplements our Annual Report on Form 10‑K for the year ended December 31, 2023 (“Annual Report”). As permitted by the Securities and Exchange Commission for interim reporting, we have omitted certain notes and disclosures that substantially duplicate those in our Annual Report. For further information, refer to the audited Consolidated Financial Statements and notes included in our Annual Report. Unless otherwise indicated, all dollar amounts presented in our Condensed Consolidated Financial Statements and these accompanying notes are expressed in millions (except per‑share amounts), and all share amounts are expressed in thousands.
Changes to prior-year presentation—As noted above, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (Hospital Operations) during the three months ended December 31, 2023. This change was made to reflect updates to the organizational and management structure of our Conifer and Hospital Operations and other segments. All prior‑period data presented in this report has been adjusted to conform to our new reporting segment structure.
As of December 31, 2023, our business was organized into two reporting segments:
•our Hospital Operations segment, which includes (1) our acute care and specialty hospitals, physician practices, imaging centers, UCCs, ancillary emergency facilities and micro‑hospitals, and (2) the revenue cycle management and value‑based care services we provide to hospitals, health systems, physician practices, employers and other clients through our Conifer Health Solutions, LLC joint venture; and
•our Ambulatory Care segment, which is comprised of the ambulatory surgery center and surgical hospital operations of our subsidiary USPI.
In addition, due to its increased significance, income tax payable is now presented separately from other current liabilities in the accompanying Condensed Consolidated Balance Sheets.
Although our Condensed Consolidated Financial Statements and these related notes are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. The financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from the amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public.
Operating results for the three and six‑month periods ended June 30, 2024 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: the impact of the demand for, and availability of, qualified medical personnel on compensation costs; overall revenue and cost trends, particularly the timing and magnitude of price changes; fluctuations in contractual allowances and cost report settlements and valuation allowances; managed care contract negotiations, settlements or terminations and payer consolidations; trends in patient accounts receivable collectability and associated implicit price concessions; the impact of cybersecurity incidents on our operations; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; impairment of long‑lived assets and goodwill; restructuring charges; losses, costs and insurance recoveries related to cybersecurity incidents, natural disasters and weather‑related occurrences; the future course and impact of COVID‑19, or the potential emergence and effects of a future pandemic, epidemic or outbreak of an infectious disease, on our operations, financial condition and liquidity; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; gains (losses) on sales, consolidation and deconsolidation of facilities; income tax rates and deferred tax asset valuation allowance activity; changes in estimates of accruals for annual incentive compensation; the timing and amounts of stock option and restricted stock unit grants to employees and directors; gains (losses) from early extinguishment of debt; and changes in occupancy levels and patient volumes.
Our hospitals and outpatient facilities are subject to various factors that affect our service mix, revenue mix and patient volumes and, thereby, impact our net patient service revenues and results of operations. These factors include, among others: changes in federal, state and local healthcare and business regulations; changes in general economic conditions nationally and regionally, including inflation and other factors; the number of uninsured and underinsured individuals in local communities treated at our facilities; disease hotspots and seasonal cycles of illness; climate and weather conditions; physician recruitment, satisfaction, retention and attrition; advances in technology and treatments that reduce length of stay or permit procedures to be performed in an outpatient rather than inpatient setting; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; performance data on quality measures and patient satisfaction, as well as standard charges for services; any unfavorable publicity about us, or our joint venture partners, that impacts our relationships with physicians and patients; and changing consumer behavior, including with respect to the timing of elective procedures. These considerations apply to year‑to‑year comparisons as well.
Cash and Cash Equivalents
We treat highly liquid investments with original maturities of three months or less as cash equivalents. Cash and cash equivalents were $2.880 billion and $1.228 billion at June 30, 2024 and December 31, 2023, respectively. At June 30, 2024 and December 31, 2023, our book overdrafts were $165 million and $187 million, respectively, which were classified as accounts payable. Also at June 30, 2024 and December 31, 2023, $106 million and $100 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our insurance‑related subsidiaries.
In addition, at June 30, 2024 and December 31, 2023, we had $63 million and $154 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $47 million and $141 million, respectively, were included in accounts payable.
During the six months ended June 30, 2024 and 2023, we recorded right‑of‑use assets related to non‑cancellable finance leases of $30 million and $21 million, respectively, and related to non‑cancellable operating leases of $124 million and $74 million, respectively, in each case excluding right‑of‑use assets obtained through business acquisitions.
Goodwill
The following tables provide information on changes in the carrying amount of goodwill for each of our segments:
Six Months Ended
June 30,
 20242023
Hospital Operations:  
Goodwill at beginning of period, net of accumulated impairment losses$3,119 $3,411 
Purchase price allocation adjustments31 — 
Goodwill related to assets held for sale and disposed(281)(30)
Goodwill at end of period, net of accumulated impairment losses$2,869 $3,381 
Six Months Ended
June 30,
 20242023
Ambulatory Care:
Goodwill at beginning of period$7,188 $6,712 
Goodwill acquired during the year, net of purchase price allocation adjustments815 260 
Goodwill related to assets held for sale and disposed or deconsolidated facilities(73)(3)
Goodwill at end of period$7,930 $6,969 
Other Intangible Assets
The following table provides information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets:
Gross
Carrying Amount		Accumulated
Amortization
Net Book Value
At June 30, 2024:
Other intangible assets with finite useful lives:
Capitalized software costs$1,568 $(1,125)$443 
Contracts312 (128)184 
Other90 (78)12 
Other intangible assets with finite lives1,970 (1,331)639 
Other intangible assets with indefinite useful lives:
Trade names105 — 105 
Contracts665 — 665 
Other4 — 4 
Other intangible assets with indefinite lives774 — 774 
Other intangible assets, net$2,744 $(1,331)$1,413 
At December 31, 2023:
Other intangible assets with finite useful lives:
Capitalized software costs$1,712 $(1,205)$507 
Contracts294 (164)130 
Other91 (78)13 
Other intangible assets with finite lives2,097 (1,447)650 
Other intangible assets with indefinite useful lives:
Trade names105 — 105 
Contracts609 — 609 
Other4 — 4 
Other intangible assets with indefinite lives718 — 718 
Other intangible assets, net$2,815 $(1,447)$1,368 
Estimated future amortization of intangible assets with finite useful lives at June 30, 2024 was as follows:
Six Months Ending
Years Ending

Later Years
December 31,
 Total20242025202620272028
Amortization of intangible assets$639 $93 $112 $100 $89 $68 $177 
We recognized amortization expense of $89 million and $84 million in the accompanying Condensed Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023, respectively.
Other Current Assets and Other Current Liabilities
The principal components of other current assets in the accompanying Condensed Consolidated Balance Sheets were as follows:
 June 30, 2024December 31, 2023
Prepaid expenses$379 $391 
Contract assets193 208 
California provider fee program receivables344 329 
Receivables from other government programs247 282 
Guarantees280 274 
Non-patient receivables310 260 
Other102 95 
Total other current assets$1,855 $1,839 
At June 30, 2024, other current liabilities in the accompanying Condensed Consolidated Balance Sheet included $342 million of advances received from managed care payers designed to assist healthcare providers experiencing cash flow disruptions as a result of the February 2024 cyberattack on Change Healthcare, a clearinghouse for medical claims. There were no advances from managed care payers at December 31, 2023.
Investments in Unconsolidated Affiliates
As of June 30, 2024, we controlled 384 of the facilities in our Ambulatory Care segment and, therefore, consolidated their results. We account for many of the facilities in which our Ambulatory Care segment holds ownership interests (160 of 544 at June 30, 2024), as well as additional companies in which our Hospital Operations segment holds ownership interests, under the equity method as investments in unconsolidated affiliates and report only our share of net income as equity in earnings of unconsolidated affiliates in our condensed consolidated statements of operations. Summarized financial information for these equity method investees is included in the following table. For investments acquired during the reported periods, amounts in the table include 100% of the investee’s results beginning on the date of our acquisition of the investment.
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
Net operating revenues$893 $830 $1,728 $1,613 
Net income$193 $203 $409 $388 
Net income available to the investees$97 $121 $220 $228 
v3.24.2
ACCOUNTS RECEIVABLE
 6 Months Ended
Jun. 30, 2024
Accounts Receivable Additional Disclosures [Abstract]  
ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLE
The principal components of accounts receivable are presented in the table below:
 June 30, 2024December 31, 2023
Patient accounts receivable$2,654 $2,719 
Estimated future recoveries139 148 
Cost report settlements receivable, net of payables and valuation allowances24 47 
Accounts receivable, net$2,817 $2,914 
We participate in various provider fee programs, which help reduce the amount of uncompensated care for indigent patients and those covered by Medicaid. The following table summarizes the amount and classification of assets and liabilities in the accompanying Condensed Consolidated Balance Sheets related to California’s provider fee program:
 June 30, 2024December 31, 2023
Assets:
Other current assets$344 $329 
Investments and other assets$293 $334 
Liabilities:
Other current liabilities$164 $172 
Other long-term liabilities$103 $135 
Uninsured and Charity Patient Costs
The following table presents our estimated costs (based on selected operating expenses, which include salaries, wages and benefits, supplies and other operating expenses) of caring for our uninsured and charity patients:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
Estimated costs for:    
Uninsured patients$132 $116 $271 $239 
Charity care patients25 28 46 52 
Total
$157 $144 $317 $291 
v3.24.2
CONTRACT BALANCES
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
CONTRACT BALANCES CONTRACT BALANCES
Hospital Operations Segment
Our Hospital Operations segment’s contract assets and liabilities primarily derive from: (1) patients receiving ongoing inpatient care from one of our facilities at the end of the reporting period; and (2) timing differences between our performance of revenue cycle management and other contractually-based services and the invoicing or receipt of payment for these services. Our Hospital Operations segment’s contract assets were included in other current assets, and its contract liabilities were included in other current liabilities or other long‑term liabilities, depending upon when we expect to recognize the underlying revenue, in the accompanying Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023. Approximately 89% of our Hospital Operations segment’s contract assets meet the conditions for unconditional right to payment and are reclassified to patient receivables within 90 days.
The opening and closing balances of our Hospital Operations segment’s receivables, contract assets, and current and long-term contract liabilities were as follows:
ReceivablesContract Assets –
Unbilled Revenue		Contract Liabilities –
Current
Deferred Revenue		Contract Liabilities –
Long-Term
Deferred Revenue
December 31, 2023$21 $208 $59 $12 
June 30, 202428 193 83 13 
Increase (decrease)$7 $(15)$24 $1 
December 31, 2022$37 $200 $110 $13 
June 30, 202318 186 76 12 
Decrease$(19)$(14)$(34)$(1)
The differences between the balances of our contract assets at December 31, 2023 and 2022 and the balances at June 30, 2024 and 2023 were primarily related to patients who were receiving inpatient acute care hospital services as of each year‑end date, but who were discharged during the following related six-month period.
In the six months ended June 30, 2024 and 2023, we recognized revenue totaling $52 million and $70 million, respectively, from our revenue cycle management services that was included in the opening current deferred revenue liability. This revenue consists primarily of prepayments for those contract clients who were billed in advance, changes in estimates related to metric‑based services, and up‑front integration services that are recognized over the service period.
Contract Costs—At June 30, 2024 and December 31, 2023, unamortized client contract setup costs were $20 million and $22 million, respectively, and were presented as part of investments and other assets in the accompanying Condensed Consolidated Balance Sheets.
NET OPERATING REVENUES
Net operating revenues for our Hospital Operations and Ambulatory Care segments primarily consist of net patient service revenues, principally for patients covered by Medicare, Medicaid, and managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients and other uninsured discount and charity programs. Net operating revenues for our Hospital Operations segment also include revenues from providing revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients.
The table below presents our sources of net operating revenues:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Hospital Operations:  
Net patient service revenues from hospitals and related outpatient facilities:
Medicare$518 $599 $1,128 $1,212 
Medicaid370 264 781 544 
Managed care2,383 2,565 5,039 5,068 
Uninsured11 29 30 60 
Indemnity and other137 156 291 296 
Total3,419 3,613 7,269 7,180 
Other revenues(1)
543 527 1,066 1,076 
Total Hospital Operations3,962 4,140 8,335 8,256 
Ambulatory Care1,141 942 2,136 1,847 
Net operating revenues$5,103 $5,082 $10,471 $10,103 
(1)Primarily revenue from physician practices and revenue cycle management. Revenue from revenue cycle management services is included in other revenues for all periods presented to conform with our new reporting segment structure.
Adjustments for prior‑year cost reports and related valuation allowances, principally related to Medicare and Medicaid, increased revenues by $2 million and $10 million during the six months ended June 30, 2024 and 2023, respectively. Estimated cost report settlements receivable, net of payables and valuation allowances were included in accounts receivable in the accompanying Condensed Consolidated Balance Sheets (see Note 2). We believe that we have made adequate provision for any adjustments that may result from the final determination of amounts earned under all the above arrangements with Medicare and Medicaid.
The following table presents the composition of net operating revenues for our Ambulatory Care segment:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net patient service revenues
$1,100 $905 $2,054 $1,773 
Management fees34 30 67 60 
Revenue from other sources7 7 15 14 
Net operating revenues$1,141 $942 $2,136 $1,847 
Performance Obligations
The following table includes revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period:
  Six Months EndingYears EndingLater Years
December 31,
 Total20242025202620272028
Performance obligations$5,748 $347 $690 $689 $688 $687 $2,647 
The amounts in the table primarily consist of revenue cycle management fixed fees, which are typically recognized ratably as the performance obligation is satisfied. The estimated revenue does not include volume‑ or contingency‑based contracts, variable‑based escalators, performance incentives, penalties or other variable consideration that is considered constrained. Our contract with Catholic Health Initiatives (“CHI”), a minority interest owner of Conifer Health Solutions, LLC, represents the majority of the fixed‑fee revenue related to remaining performance obligations. Conifer’s contract term with CHI ends December 31, 2032.
v3.24.2
DISPOSITION OF ASSETS AND LIABILITIES
 6 Months Ended
Jun. 30, 2024
Discontinued Operation, Additional Disclosures [Abstract]  
DISPOSITION OF ASSETS AND LIABILITIES DISPOSITION OF ASSETS AND LIABILITIES
In November 2023, we entered into a definitive agreement for the sale of three hospitals located in South Carolina and certain related operations (together, the “SC Hospitals”), all of which were held by our Hospital Operations segment. The assets and liabilities related to the SC Hospitals were included in assets held for sale and liabilities held for sale, respectively, in the accompanying Condensed Consolidated Balance Sheet at December 31, 2023. We completed the sale of the SC Hospitals in January 2024, resulting in the recognition of a pre-tax gain on sale of $1.677 billion in the six months ended June 30, 2024.
In January 2024, we entered into a definitive agreement for the sale of four hospitals and certain related operations located in Orange County and Los Angeles County, California (the “OCLA CA Hospitals”), including facilities from both our Hospital Operations and Ambulatory Care segments. We completed the sale of the OCLA CA Hospitals in March 2024, resulting in the recognition of a pre-tax gain on sale of $526 million in the six months ended June 30, 2024.
In February 2024, we entered into a definitive agreement for the sale of two hospitals and certain related operations located in San Luis Obispo County, California (the “Central CA Hospitals”), all of which were held by our Hospital Operations segment. We completed the sale of the Central CA Hospitals in March 2024, resulting in the recognition of a pre-tax gain on sale of $275 million in the six months ended June 30, 2024.
We completed the sale of three additional ambulatory surgery centers held by our Ambulatory Care segment during the six months ended June 30, 2024, resulting in the recognition of a total pre-tax gain on the sales of $43 million.
Gains recognized from the disposition of the assets described above are included in net gains on sales, consolidation and deconsolidation of facilities in the accompanying Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2024.
Assets and liabilities classified as held for sale at June 30, 2024 were comprised of the following:
Other current assets$5 
Other intangible assets16 
Other current liabilities(11)
Net assets held for sale$10 
The following table presents amounts included in income before income taxes, related to a significant component of our business that was recently disposed of:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
SC Hospitals (includes a $1.677 billion gain on sale in the six months ended June 30, 2024)
$3 $32 $1,689 $60 
v3.24.2
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS
 6 Months Ended
Jun. 30, 2024
Restructuring Costs and Asset Impairment Charges [Abstract]  
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION‑RELATED COSTS
Our impairment tests presume stable, improving or, in some cases, declining operating results in our facilities, which are based on programs and initiatives being implemented that are designed to achieve each facility’s most recent projections. If these projections are not met, or negative trends occur that impact our future outlook, future impairments of long‑lived assets and goodwill may occur, and we may incur additional restructuring charges, which could be material.
We record costs associated with restructuring efforts in our statement of operations as they are incurred. Our restructuring plans typically focus on the alignment of our operations in the most strategic and cost‑effective structure, such as the establishment of support operations at our GBC, among other things. Certain restructuring and acquisition‑related costs are based on estimates. Changes in estimates are recognized as they occur.
During the six months ended June 30, 2024, we recorded impairment and restructuring charges and acquisition‑related costs of $56 million, consisting of $32 million of restructuring charges, $22 million of acquisition‑related transaction costs and $2 million of impairment charges. Restructuring charges consisted of $14 million of legal costs related to the sale of certain businesses, $6 million of employee severance costs, $5 million related to the transition of various administrative functions to our GBC and $7 million of other restructuring costs.
During the six months ended June 30, 2023, we recorded impairment and restructuring charges and acquisition‑related costs of $37 million, consisting of $31 million of restructuring charges, $4 million of acquisition‑related transaction costs and $2 million of impairment charges. Restructuring charges consisted of $11 million of legal costs related to the sale of certain businesses, $7 million related to the transition of various administrative functions to our GBC, $6 million of employee severance costs, $2 million of contract and lease termination fees, and $5 million of other restructuring costs.
v3.24.2
LONG-TERM DEBT
 6 Months Ended
Jun. 30, 2024
Long-Term Debt and Lease Obligation [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The table below presents our long‑term debt included in the accompanying Condensed Consolidated Balance Sheets:
 June 30, 2024December 31, 2023
Senior unsecured notes:  
6.125% due 2028
$2,500 $2,500 
6.875% due 2031
362 362 
Senior secured first lien notes:  
4.875% due 2026
— 2,100 
5.125% due 2027
1,500 1,500 
4.625% due 2028
600 600 
4.250% due 2029
1,400 1,400 
4.375% due 2030
1,450 1,450 
6.125% due 2030
2,000 2,000 
6.750% due 2031
1,350 1,350 
Senior secured second lien notes:
6.250% due 2027
1,500 1,500 
Finance leases, mortgages and other notes311 361 
Unamortized issue costs and note discounts(102)(121)
Total long-term debt12,871 15,002 
Less: Current portion102 120 
Long-term debt, net of current portion$12,769 $14,882 
Senior Unsecured Notes and Senior Secured Notes
At June 30, 2024, we had senior unsecured notes and senior secured notes with aggregate principal amounts outstanding of $12.662 billion. These notes have fixed interest rates ranging from 4.250% to 6.875% and require semi‑annual interest payments in arrears. A payment of the principal and any accrued but unpaid interest is due upon the maturity date of the respective notes, which dates are staggered from February 2027 through November 2031.
In March 2024, we redeemed all $2.100 billion aggregate principal amount outstanding of our 4.875% senior secured first lien notes due 2026 in advance of their maturity date. We paid $2.100 billion using cash on hand to redeem the notes. In connection with the redemption, we recorded a loss from early extinguishment of debt of $8 million in the three months ended March 31, 2024, primarily related to the write-off of associated unamortized issuance costs.
Credit Agreement
We have a senior secured revolving credit facility (as amended, the “Credit Agreement”) that provides for revolving loans in an aggregate principal amount of up to $1.500 billion with a $200 million subfacility for standby letters of credit. Outstanding revolving loans accrue interest depending on the type of loan at either (a) a base rate plus an applicable margin ranging from 0.25% to 0.75% per annum or (b) Term Secured Overnight Financing Rate (“SOFR”), Daily Simple SOFR or the Euro Interbank Offered Rate (EURIBOR) (each, as defined in the Credit Agreement) plus an applicable margin ranging from 1.25% to 1.75% per annum and (in the case of Term SOFR and Daily Simple SOFR only) a credit spread adjustment of 0.10%, in each case based on available credit. An unused commitment fee payable on the undrawn portion of the revolving loans ranges from 0.25% to 0.375% per annum based on available credit. Our borrowing availability is based on a specified percentage of eligible inventory and accounts receivable, including self‑pay accounts. At June 30, 2024, we had no cash borrowings outstanding under the Credit Agreement, and we had less than $1 million of standby letters of credit outstanding. Based on our eligible receivables, $1.500 billion was available for borrowing under the Credit Agreement at June 30, 2024.
Letter of Credit Facility
We have a letter of credit facility (as amended to date, the “LC Facility”) that provides for the issuance, from time to time, of standby and documentary letters of credit in an aggregate principal amount of up to $200 million. We amended the LC Facility in September 2023 to, among other things, (1) extend the scheduled maturity date from September 12, 2024 to March 16, 2027, and (2) replace the London Interbank Offered Rate (LIBOR) with Term SOFR as the reference interest rate. Drawings under any letter of credit issued under the LC Facility that we have not reimbursed within three business days after notice thereof accrue interest at a base rate, as defined in the LC Facility, plus a margin of 0.50% per annum. An unused commitment fee is payable at an initial rate of 0.25% per annum with a step up to 0.375% per annum should our secured‑debt‑to‑EBITDA ratio equal or exceed 3.00 to 1.00 at the end of any fiscal quarter. A fee on the aggregate outstanding
amount of issued but undrawn letters of credit accrues at a rate of 1.50% per annum. An issuance fee equal to 0.125% per annum of the aggregate face amount of each outstanding letter of credit is payable to the account of the issuer of the related letter of credit. The LC Facility is subject to an effective maximum secured debt covenant of 4.25 to 1.00. At June 30, 2024, we had $108 million of standby letters of credit outstanding under the LC Facility.
v3.24.2
GUARANTEES
 6 Months Ended
Jun. 30, 2024
Guarantees [Abstract]  
GUARANTEES GUARANTEES
At June 30, 2024, the maximum potential amount of future payments under our income guarantees to certain physicians who agree to relocate and revenue collection guarantees to hospital‑based physician groups providing certain services at our hospitals was $340 million. We had a total liability of $280 million recorded for these guarantees included in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at June 30, 2024.
At June 30, 2024, we also had issued guarantees of the indebtedness and other obligations of our investees to third parties, the maximum potential amount of future payments under which was approximately $80 million. Of the total, $18 million relates to the obligations of consolidated subsidiaries, which obligations were recorded in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at June 30, 2024.
v3.24.2
EMPLOYEE BENEFIT PLANS
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Share-Based Compensation Plans
The accompanying Condensed Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023 include $36 million and $33 million, respectively, of pre-tax compensation costs related to our stock‑based compensation arrangements. At June 30, 2024, there were $92 million of total unrecognized compensation costs related to our share‑based compensation awards. These costs are expected to be recognized over a weighted average (“Wtd. Avg.”) period of 2.2 years.
Stock Options
The following table provides information about our stock option activity during the six months ended June 30, 2024:
 Number of Options
Wtd. Avg. Exercise Price
Per Share
Aggregate
Intrinsic Value
Wtd. Avg.
Remaining Life
   (In Millions) 
Outstanding at December 31, 2023
384,440 $22.79   
Exercised(155,943)$22.64   
Outstanding at June 30, 2024
228,497 $22.88 $25 3.7 years
During the six months ended June 30, 2024 and 2023, 155,943 and 76,507 stock options, respectively, were exercised with an aggregate intrinsic value of $13 million and $4 million, respectively. We did not grant any stock options during either of the six-month periods ended June 30, 2024 or 2023.

The following table provides additional information about our outstanding stock options, all of which were vested and exercisable, at June 30, 2024:
 Options Outstanding and Exercisable
Range of Exercise Prices Number of
Options		Wtd. Avg.
Remaining
Contractual Life		Wtd. Avg.
Exercise Price
Per Share
$18.99 to $20.609
161,285 3.3 years$19.99 
$20.61 to $35.430
67,212 4.5 years$29.82 
228,497 3.7 years$22.88 
Restricted Stock Units
The following table presents information about our restricted stock unit (“RSU”) activity during the six months ended June 30, 2024:
Number of RSUs
Wtd. Avg.
Grant Date Fair 
Value Per RSU
Unvested at December 31, 20231,421,063 $66.46 
Granted572,055 $94.64 
Performance-based adjustment205,075 $66.48 
Vested(660,080)$65.29 
Forfeited(1,961)$62.64 
Unvested at June 30, 20241,536,152 $81.35 
We grant both time‑based RSUs that vest over a prescribed period and performance-based RSUs that vest subject to the achievement of specified performance goals within a pre‑established time frame. The performance-based RSUs may contain provisions that increase or decrease the number of RSUs that ultimately vest, depending upon the level of achievement. For certain of our performance‑based awards, the number of RSUs that ultimately vest is also subject to adjustment based on the achievement of a market‑based condition. In aggregate, these adjustments range from 0% to a maximum of 250% of the number of RSUs initially granted for awards made in 2024, from 0% to 225% for awards made in 2023 and from 0% to 200% for awards granted prior to 2023.
Previously, grants of RSUs to our non‑employee directors as part of their annual compensation vested immediately and were settled on the third anniversary of the date of grant. Beginning in 2024, annual compensation grants to our non‑employee directors vest on the first anniversary of the date of grant.
The table below summarizes the time-based RSUs granted during the six months ended June 30, 2024:
No. of RSUs
Vesting Terms
263,714
RSUs will vest ratably over a three‑year period from the grant date
11,002
RSUs granted to our non-employee directors for the 2024-25 board service year, which will vest on the first anniversary of the grant date
The table below summarizes the performance-based RSUs granted during the six months ended June 30, 2024:
No. of RSUs
Performance PeriodPotential Vesting Range
Vesting TermsMinimumMaximum
291,734
RSUs will vest on the third anniversary of the grant date
2024 to 2026
— %250 %
5,605
RSUs will vest on the third anniversary of the grant date
2024 to 2026— %150 %
The table below summarizes the time-based RSUs granted during the six months ended June 30, 2023:
No. of RSUs
Vesting Terms
301,562
RSUs will vest ratably over a three‑year period from the grant date
42,626
RSUs will vest on the fifth anniversary of the grant date
37,740
RSUs granted to our non-employee directors for the 2023-24 board service year, which vested immediately
33,586
RSUs that were scheduled to vest, and did vest, in December 2023
7,720
RSUs will vest on the third anniversary of the grant date
The table below summarizes the performance-based RSUs granted during the six months ended June 30, 2023:
No. of RSUs
Performance PeriodPotential Vesting Range
Vesting TermsMinimumMaximum
301,562
RSUs will vest on the third anniversary of the grant date
2023 to 2025
— %225 %
7,720
RSUs will vest on the third anniversary of the grant date
2023 to 2025
— %150 %
During the six months ended June 30, 2024 and 2023, we issued 205,075 and 185,901 RSUs as a result of our level of achievement with respect to previously-awarded performance-based RSUs.

The fair value of an RSU is based on our share price on the grant date. The fair value of an RSU with a market‑based condition is estimated through the use of a Monte Carlo simulation. Significant inputs used in our valuation of these RSUs included the following:
Six Months Ended June 30,
20242023
Expected volatility
34.9% - 52.1%
53.6% - 65.6%
Risk-free interest rate
4.4% - 4.9%
4.2% - 4.8%
USPI Management Equity Plan
USPI maintains a separate restricted stock plan (the “USPI Management Equity Plan”) under which it grants RSUs representing a contractual right to receive one share of USPI’s non‑voting common stock in the future. The vesting of RSUs granted under the USPI Management Equity Plan varies based on the terms of the underlying award agreement. Once the RSUs have vested and the subsequent requisite holding period is met, during specified times, the participant can sell the underlying shares to USPI at their estimated fair market value. At our sole discretion, the purchase of any non‑voting common shares can be made in cash or in shares of Tenet’s common stock.
The following table summarizes RSU activity under the USPI Management Equity Plan during the six months ended June 30, 2024:
Number of RSUs
Wtd. Avg.
Grant Date Fair Value Per RSU
Unvested at December 31, 2023607,984 $34.13 
Vested(605,987)$34.13 
Forfeited(1,997)$34.13 
Unvested at June 30, 2024— $34.13 
USPI did not make any grants under the USPI Management Equity Plan during the six months ended June 30, 2024 or 2023. At June 30, 2024, there were 453 thousand outstanding vested shares of non‑voting common stock eligible to be sold to USPI.
v3.24.2
EQUITY
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
EQUITY EQUITY
The following tables present the changes in consolidated equity (dollars in millions, share amounts in thousands):
Common StockAdditional
Paid-In
Capital		Accumulated
Other
Comprehensive
Loss		Retained Earnings
(Accumulated
Deficit)		Treasury
Stock		Noncontrolling
Interests		Total Equity
Shares
Outstanding		Issued Par
Amount
Balances at December 31, 202399,950 $8 $4,834 $(181)$(192)$(2,861)$1,509 $3,117 
Net income— — — — 2,151 — 82 2,233 
Distributions paid to noncontrolling interests— — — — — — (78)(78)
Other comprehensive income— — — 2 — — — 2 
Sales of businesses and noncontrolling interests, net— — (5)— — — (23)(28)
Repurchases of common stock(2,811)— — — — (280)— (280)
Stock-based compensation expense and issuance of common stock534 — (23)— — — — (23)
Balances at March 31, 202497,673 8 4,806 (179)1,959 (3,141)1,490 4,943 
Net income— — — — 259 — 97 356 
Distributions paid to noncontrolling interests— — — — — — (70)(70)
Other comprehensive income— — — 2 — — — 2 
Purchases of businesses and noncontrolling interests, net— — 12 — — — 64 76 
Repurchases of common stock(1,990)— — — — (273)— (273)
Stock-based compensation expense and issuance of common stock136 — 22 — — — — 22 
Balances at June 30, 202495,819 $8 $4,840 $(177)$2,218 $(3,414)$1,581 $5,056 
Common StockAdditional
Paid-In
Capital		Accumulated
Other
Comprehensive
Loss		Accumulated
Deficit		Treasury
Stock		Noncontrolling
Interests		Total Equity
Shares
Outstanding		Issued Par
Amount
Balances at December 31, 2022102,247 $8 $4,778 $(181)$(803)$(2,660)$1,317 $2,459 
Net income— — — — 143 — 74 217 
Distributions paid to noncontrolling interests— — — — — — (61)(61)
Other comprehensive income— — — 2 — — — 2 
Purchases of businesses and noncontrolling interests, net— — 2 — — — 17 19 
Repurchases of common stock(906)— — — — (50)— (50)
Stock-based compensation expense and issuance of common stock571 — (6)— — — — (6)
Balances at March 31, 2023101,912 8 4,774 (179)(660)(2,710)1,347 2,580 
Net income— — — — 123 — 82 205 
Distributions paid to noncontrolling interests— — — — — — (66)(66)
Other comprehensive income— — — 1 — — — 1 
Purchases of businesses and noncontrolling interests, net— — 4 — — — 18 22 
Repurchases of common stock(580)— — — — (40)— (40)
Stock-based compensation expense and issuance of common stock177 — 22 — — — — 22 
Balances at June 30, 2023101,509 $8 $4,800 $(178)$(537)$(2,750)$1,381 $2,724 
Nonredeemable Noncontrolling Interests
Our nonredeemable noncontrolling interests balances at June 30, 2024 and December 31, 2023 were comprised of $201 million and $185 million, respectively, from our Hospital Operations segment, and $1.380 billion and $1.324 billion, respectively, from our Ambulatory Care segment. Net income amounts available to nonredeemable noncontrolling interests for the six months ended June 30, 2024 and 2023 in the tables above were comprised of $21 million and $14 million, respectively, from our Hospital Operations segment and $158 million and $142 million, respectively, from our Ambulatory Care segment.
Share Repurchase Program
In October 2022, our board of directors authorized the repurchase of up to $1 billion of our common stock through a share repurchase program. Repurchases may be made in open‑market or privately negotiated transactions, at management’s discretion subject to market conditions and other factors, and in a manner consistent with applicable securities laws and regulations. The share repurchase program does not obligate us to acquire any particular amount of common stock, and it may be suspended for periods or discontinued at any time before its scheduled expiration date of December 31, 2024.
The following tables summarize transactions completed under the repurchase program during the periods shown:
PeriodTotal Number of Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced ProgramMaximum Dollar Value of Shares That May Yet be Purchased Under the Program
 (In Thousands)(In Thousands)(In Millions)
Six Months Ended June 30, 2024:
January 1 through January 31, 2024—$— —$550 
February 1 through February 29, 2024—$— —$550 
March 1 through March 31, 20242,811$98.86 2,811$272 
April 1 through April 30, 2024—$— —$272 
May 1 through May 31, 2024—$— —$272 
June 1 through June 30, 20241,990$135.85 1,990$2 
January 1 through June 30, 20244,801$114.19 4,801
PeriodTotal Number of Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced ProgramMaximum Dollar Value of Shares That May Yet be Purchased Under the Program
 (In Thousands)(In Thousands)(In Millions)
Six Months Ended June 30, 2023:
January 1 through January 31, 2023—$— —$750 
February 1 through February 28, 2023—$— —$750 
March 1 through March 31, 2023906$55.03 906$700 
April 1 through April 30, 2023—$— —$700 
May 1 through May 31, 2023580$69.17 580$660 
June 1 through June 30, 2023—$— —$660 
January 1 through June 30, 20231,486$60.55 1,486
v3.24.2
NET OPERATING REVENUES
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
NET OPERATING REVENUES CONTRACT BALANCES
Hospital Operations Segment
Our Hospital Operations segment’s contract assets and liabilities primarily derive from: (1) patients receiving ongoing inpatient care from one of our facilities at the end of the reporting period; and (2) timing differences between our performance of revenue cycle management and other contractually-based services and the invoicing or receipt of payment for these services. Our Hospital Operations segment’s contract assets were included in other current assets, and its contract liabilities were included in other current liabilities or other long‑term liabilities, depending upon when we expect to recognize the underlying revenue, in the accompanying Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023. Approximately 89% of our Hospital Operations segment’s contract assets meet the conditions for unconditional right to payment and are reclassified to patient receivables within 90 days.
The opening and closing balances of our Hospital Operations segment’s receivables, contract assets, and current and long-term contract liabilities were as follows:
ReceivablesContract Assets –
Unbilled Revenue		Contract Liabilities –
Current
Deferred Revenue		Contract Liabilities –
Long-Term
Deferred Revenue
December 31, 2023$21 $208 $59 $12 
June 30, 202428 193 83 13 
Increase (decrease)$7 $(15)$24 $1 
December 31, 2022$37 $200 $110 $13 
June 30, 202318 186 76 12 
Decrease$(19)$(14)$(34)$(1)
The differences between the balances of our contract assets at December 31, 2023 and 2022 and the balances at June 30, 2024 and 2023 were primarily related to patients who were receiving inpatient acute care hospital services as of each year‑end date, but who were discharged during the following related six-month period.
In the six months ended June 30, 2024 and 2023, we recognized revenue totaling $52 million and $70 million, respectively, from our revenue cycle management services that was included in the opening current deferred revenue liability. This revenue consists primarily of prepayments for those contract clients who were billed in advance, changes in estimates related to metric‑based services, and up‑front integration services that are recognized over the service period.
Contract Costs—At June 30, 2024 and December 31, 2023, unamortized client contract setup costs were $20 million and $22 million, respectively, and were presented as part of investments and other assets in the accompanying Condensed Consolidated Balance Sheets.
NET OPERATING REVENUES
Net operating revenues for our Hospital Operations and Ambulatory Care segments primarily consist of net patient service revenues, principally for patients covered by Medicare, Medicaid, and managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients and other uninsured discount and charity programs. Net operating revenues for our Hospital Operations segment also include revenues from providing revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients.
The table below presents our sources of net operating revenues:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Hospital Operations:  
Net patient service revenues from hospitals and related outpatient facilities:
Medicare$518 $599 $1,128 $1,212 
Medicaid370 264 781 544 
Managed care2,383 2,565 5,039 5,068 
Uninsured11 29 30 60 
Indemnity and other137 156 291 296 
Total3,419 3,613 7,269 7,180 
Other revenues(1)
543 527 1,066 1,076 
Total Hospital Operations3,962 4,140 8,335 8,256 
Ambulatory Care1,141 942 2,136 1,847 
Net operating revenues$5,103 $5,082 $10,471 $10,103 
(1)Primarily revenue from physician practices and revenue cycle management. Revenue from revenue cycle management services is included in other revenues for all periods presented to conform with our new reporting segment structure.
Adjustments for prior‑year cost reports and related valuation allowances, principally related to Medicare and Medicaid, increased revenues by $2 million and $10 million during the six months ended June 30, 2024 and 2023, respectively. Estimated cost report settlements receivable, net of payables and valuation allowances were included in accounts receivable in the accompanying Condensed Consolidated Balance Sheets (see Note 2). We believe that we have made adequate provision for any adjustments that may result from the final determination of amounts earned under all the above arrangements with Medicare and Medicaid.
The following table presents the composition of net operating revenues for our Ambulatory Care segment:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net patient service revenues
$1,100 $905 $2,054 $1,773 
Management fees34 30 67 60 
Revenue from other sources7 7 15 14 
Net operating revenues$1,141 $942 $2,136 $1,847 
Performance Obligations
The following table includes revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period:
  Six Months EndingYears EndingLater Years
December 31,
 Total20242025202620272028
Performance obligations$5,748 $347 $690 $689 $688 $687 $2,647 
The amounts in the table primarily consist of revenue cycle management fixed fees, which are typically recognized ratably as the performance obligation is satisfied. The estimated revenue does not include volume‑ or contingency‑based contracts, variable‑based escalators, performance incentives, penalties or other variable consideration that is considered constrained. Our contract with Catholic Health Initiatives (“CHI”), a minority interest owner of Conifer Health Solutions, LLC, represents the majority of the fixed‑fee revenue related to remaining performance obligations. Conifer’s contract term with CHI ends December 31, 2032.
v3.24.2
INSURANCE
 6 Months Ended
Jun. 30, 2024
Property and Professional and General Liablity Insurance [Abstract]  
INSURANCE INSURANCE
Property Insurance
We have property, business interruption and related insurance coverage to mitigate the financial impact of catastrophic events or perils that is subject to deductible provisions based on the terms of the policies. These policies are issued on an occurrence basis. For both the policy periods of April 1, 2023 through March 31, 2024 and April 1, 2024 through March 31, 2025, we have coverage totaling $850 million per occurrence, after deductibles and exclusions, with annual aggregate sub‑limits of $100 million for floods, $200 million for earthquakes in California, $200 million for all other earthquakes and a per‑occurrence sub‑limit of $200 million per named windstorm with no annual aggregate. With respect to fires and other perils, excluding floods, earthquakes and named windstorms, the total $850 million limit of coverage per occurrence applies. Deductibles are 5% of insured values for earthquakes in California and named windstorms, and 2% of insured values for earthquakes in the New Madrid fault zone, each with a maximum deductible per claim of $25 million. All other covered losses are subject to a minimum deductible of $5 million per occurrence.
We also purchase cyber liability insurance from third parties. During the six months ended June 30, 2023, we received $31 million of insurance recoveries related to a cybersecurity incident that occurred in 2022. Of the amounts received, we recorded $27 million as net operating revenues during the same six-month period in 2023. We received less than $1 million of insurance recoveries during the six months ended June 30, 2024.
Professional and General Liability Reserves
We are self‑insured for the majority of our professional and general liability claims, and we purchase insurance from third parties to cover catastrophic claims. At June 30, 2024 and December 31, 2023, the aggregate current and long‑term professional and general liability reserves in the accompanying Condensed Consolidated Balance Sheets were $1.127 billion and $1.046 billion, respectively. These accruals include the reserves recorded by our captive insurance subsidiaries and our self‑insured retention reserves recorded based on modeled estimates for the portion of our professional and general liability risks, including incurred but not reported claims, for which we do not have insurance coverage. Malpractice expense of $183 million and $190 million was included in other operating expenses, net, in the accompanying Condensed Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023, respectively.
v3.24.2
CLAIMS AND LAWSUITS
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
CLAIMS AND LAWSUITS CLAIMS AND LAWSUITS
We operate in a highly regulated and litigious industry. Healthcare companies are subject to numerous investigations by various governmental agencies. Further, private parties have the right to bring qui tam or “whistleblower” lawsuits against companies that allegedly submit false claims for payments to, or improperly retain overpayments from, the government and, in some states, private payers. We and our subsidiaries have received inquiries in recent years from government agencies, and we may receive similar inquiries in future periods. We are also subject to class action lawsuits, employment‑related claims and other legal actions in the ordinary course of business, including potential claims related to, among other things, the care and treatment provided at our hospitals and outpatient facilities, the application of various federal and state labor and privacy laws, tax audits and other matters. Some of these actions may involve large demands, as well as substantial defense costs. We cannot predict the outcome of current or future legal actions against us or the effect that judgments or settlements in such matters may have on us; however, we believe that the ultimate resolution of our existing ordinary‑course claims and lawsuits will not have a material effect on our business or financial condition.
New claims or inquiries may be initiated against us from time to time. These matters could (1) require us to pay substantial damages or amounts in judgments or settlements, which, individually or in the aggregate, could exceed amounts, if any, that may be recovered under our insurance policies where coverage applies and is available, (2) cause us to incur substantial expenses, (3) require significant time and attention from our management, and (4) cause us to close or sell hospitals or otherwise modify the way we conduct business.
We record accruals for estimated losses relating to claims and lawsuits when available information indicates that a loss is probable and we can reasonably estimate the amount of the loss or a range of loss. Significant judgment is required in both the determination of the probability of a loss and the determination as to whether a loss is reasonably estimable. These determinations are updated at least quarterly and are adjusted to reflect the effects of negotiations, settlements, rulings, advice of legal counsel and technical experts, and other information and events pertaining to a particular matter, but are subject to significant uncertainty regarding numerous factors that could affect the ultimate loss levels. If a loss on a material matter is reasonably possible and estimable, we disclose an estimate of the loss or a range of loss. We do not disclose an estimate when we have concluded that a loss is either not reasonably possible or a loss, or a range of loss, is not reasonably estimable, based on available information. Given the inherent uncertainties associated with material legal matters, especially those involving governmental agencies, and the indeterminate damages sought in some cases, we are unable to predict the ultimate liability we may incur from such matters, and an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period.
The following table presents reconciliations of the beginning and ending liability balances in connection with legal settlements and related costs:
Balances at
Beginning
of Period		Litigation and
Investigation
Costs
Cash
Payments		Balances at
End of
Period
Six Months Ended June 30, 2024$40 $9 $(20)$29 
Six Months Ended June 30, 2023$51 $14 $(46)$19 
v3.24.2
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES
 6 Months Ended
Jun. 30, 2024
Noncontrolling Interest [Abstract]  
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES
Certain of our investees’ partnership and operating agreements contain terms that, upon the occurrence of specified events, could obligate us to purchase some or all of the noncontrolling interests related to our consolidated subsidiaries. The noncontrolling interests subject to these provisions, and the income attributable to those interests, are not included as part of our equity and are presented as redeemable noncontrolling interests in the accompanying Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023.
The following table presents the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries for the periods presented:
 Six Months Ended June 30,
 20242023
Balances at beginning of period $2,391 $2,149 
Net income222 167 
Distributions paid to noncontrolling interests(175)(143)
Purchases and sales of businesses and noncontrolling interests, net375 104 
Balances at end of period $2,813 $2,277 
The following tables present the composition by segment of our redeemable noncontrolling interests balances, as well as our net income available to redeemable noncontrolling interests:
 June 30, 2024December 31, 2023
Hospital Operations$910 $860 
Ambulatory Care1,903 1,531 
Redeemable noncontrolling interests$2,813 $2,391 
 Six Months Ended June 30,
 20242023
Hospital Operations$53 $44 
Ambulatory Care169 123 
Net income available to redeemable noncontrolling interests$222 $167 
In June 2022, we entered into a share purchase agreement to acquire the 5% ownership interest then-held by Baylor University Medical Center (“Baylor”) in USPI for $406 million. Under the share purchase agreement, we are obligated to make non-interest-bearing monthly payments of approximately $11 million through June 2025. At June 30, 2024, the remaining obligation under the share purchase agreement of $133 million was classified as a current liability and included in other current liabilities in the accompanying Condensed Consolidated Balance Sheet. At December 31, 2023, we had a liability of $135 million recorded in other current liabilities for the purchase of Baylor’s ownership interest and $63 million recorded in other long‑term liabilities in the accompanying Condensed Consolidated Balance Sheet.
v3.24.2
INCOME TAXES
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
A reconciliation between the amount of reported income tax expense and the amount computed by multiplying income before income taxes by the statutory federal tax rate is presented below:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Tax expense at statutory federal rate of 21%$123 $78 $771 $158 
State income taxes, net of federal income tax benefit22 12 225 28 
Tax benefit attributable to noncontrolling interests(46)(35)(84)(67)
Nondeductible goodwill2 — 128 — 
Stock-based compensation tax benefit(1)(2)(6)(4)
Changes in valuation allowance7 23 (178)42 
Other items3 4 4 7 
Income tax expense$110 $80 $860 $164 
Income before income taxes for the three months ended June 30, 2024 and 2023 was $587 million and $373 million, respectively, and was $3.671 billion and $753 million for the six months ended June 30, 2024 and 2023, respectively.
Our provision for income taxes during interim reporting periods is calculated by applying an estimate of the annual effective tax rate to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. In calculating “ordinary” income, non‑taxable income available to noncontrolling interests was deducted from pre-tax income. During the six months ended June 30, 2024, we recorded an income tax benefit of $178 million to decrease the valuation allowance, including a decrease of $194 million for utilization of interest expense carryforwards primarily due to gains from sales of facilities, and an increase of $16 million related to state interest expense carryforwards. During the six months ended June 30, 2023, we recorded income tax expense of $42 million to increase the valuation allowance for interest expense carryforwards as a result of the limitation on business interest expense.
The Inflation Reduction Act of 2022 implemented a corporate alternative minimum tax (“CAMT”) of 15% on book income of certain large corporations effective for tax years beginning after December 31, 2022. We are subject to the CAMT, however, we currently do not expect any material impact on our condensed consolidated statement of operations.
During the six months ended June 30, 2024, we increased our estimated liabilities for uncertain tax positions by $16 million. The total amount of unrecognized tax benefits as of June 30, 2024 was $77 million, of which $75 million, if recognized, would affect our effective tax rate and income tax expense.
Our practice is to recognize interest and penalties related to income tax matters in income tax expense in our condensed consolidated statement of operations. Approximately $4 million of interest and penalties related to accrued liabilities for uncertain tax positions are included for the six months ended June 30, 2024. Total accrued interest and penalties on unrecognized tax benefits at June 30, 2024 were $7 million.
As of June 30, 2024, we expect a $4 million decrease in unrecognized federal and state tax benefits in the next 12 months as a result of the settlement of audits, the filing of amended tax returns or the expiration of statutes of limitations.
v3.24.2
EARNINGS PER COMMON SHARE
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
The following table reconciles the numerators and denominators of our basic and diluted earnings per common share calculations. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands.
 
Net Income Available
to Common
Shareholders
(Numerator)
Wtd. Avg. Shares
(Denominator)
Per-Share Amount
Three Months Ended June 30, 2024   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$259 97,267 $2.66 
Effect of dilutive instruments1 1,177 (0.02)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$260 98,444 $2.64 
Three Months Ended June 30, 2023   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$123 101,766 $1.21 
Effect of dilutive instruments(3)3,012 (0.06)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$120 104,778 $1.15 
Six Months Ended June 30, 2024   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$2,410 98,424 $24.49 
Effect of dilutive instruments1 1,133 (0.27)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$2,411 99,557 $24.22 
Six Months Ended June 30, 2023   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$266 102,028 $2.61 
Effect of dilutive instruments(6)3,326 (0.14)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$260 105,354 $2.47 
Dilutive instruments during the three and six months ended June 30, 2024 and 2023 consisted of stock options, RSUs, including RSUs issued under the USPI Management Equity Plan, deferred compensation units and dividends on subsidiary preferred stock. During the six-month period in 2023, our dilutive instruments also included a convertible instrument, namely an agreement related to the ownership interest in a Hospital Operations segment joint venture.
v3.24.2
FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS 
We are required to provide additional disclosures about fair value measurements as part of our financial statements for each major category of assets and liabilities measured at fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities, which generally are not applicable to non‑financial assets and liabilities. Fair values determined by Level 2 inputs utilize data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets. Fair values determined by Level 3 inputs utilize unobservable data points for the asset or liability and include situations where there is little, if any, market activity for the asset or liability, such as internal estimates of future cash flows.
Non-Recurring Fair Value Measurements
Our non‑financial assets and liabilities not permitted or required to be measured at fair value on a recurring basis typically relate to long‑lived assets held and used, long‑lived assets held for sale and goodwill. The following table presents this information about assets measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair values:
TotalQuoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
June 30, 2024
Long-lived assets held for sale$21 $— $21 $— 
December 31, 2023
Long-lived assets held for sale$775 $— $775 $— 
Financial Instruments
The fair value of our long‑term debt (except for borrowings under the Credit Agreement) is based on quoted market prices (Level 1). The inputs used to establish the fair value of the borrowings outstanding under the Credit Agreement are considered to be Level 2 inputs. At June 30, 2024 and December 31, 2023, the estimated fair value of our long‑term debt was approximately 99.5% and 96.9%, respectively, of the carrying value of the debt.
v3.24.2
ACQUISITIONS
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
Preliminary purchase price allocations (representing the fair value of the consideration conveyed) for all acquisitions made during the six months ended June 30, 2024 and 2023 were as follows:
Six Months Ended June 30,
20242023
Current assets$67 $13 
Property and equipment42 8 
Other intangible assets132 5 
Goodwill820 257 
Long-term operating lease assets99 8 
Other long-term assets1 — 
Previously held investments in unconsolidated affiliates(23)(37)
Current liabilities(67)(8)
Long-term operating lease liabilities(88)(7)
Other long-term liabilities(12)(4)
Redeemable noncontrolling interests in equity of consolidated subsidiaries(381)(95)
Noncontrolling interests(59)(31)
Cash paid, net of cash acquired(500)(96)
Gains on consolidations$31 $13 
The goodwill generated from the 2024 transactions, the majority of which we believe will not be deductible for income tax purposes, can be attributed to the benefits that we expect to realize from operating efficiencies and growth strategies. The goodwill total of $820 million from acquisitions completed during the six months ended June 30, 2024 was recorded in our Ambulatory Care segment. Approximately $22 million and $4 million in transaction costs related to prospective and closed acquisitions were expensed during the six months ended June 30, 2024 and 2023, respectively, and were included in impairment and restructuring charges, and acquisition‑related costs in the accompanying Condensed Consolidated Statements of Operations.
In December 2023, we acquired a 55% ownership interest in NextCare Arizona I JV, LLC and a minority ownership interest in NextCare Arizona II JV, LLC from NextCare, Inc. and certain of its affiliates (“NextCare”). Through these transactions, we acquired a controlling interest in 41 fully operational UCCs and a telehealth center, as well as a noncontrolling interest in an additional 15 fully operational UCCs, all located in Arizona. In the six months ended June 30, 2024, we increased our ownership, such that we now hold a controlling interest in all 56 NextCare UCCs, and we released $10 million of the original purchase price we had retained in escrow pending NextCare’s compliance with certain conditions.
We are required to allocate the purchase prices of acquired businesses to assets acquired or liabilities assumed and, if applicable, noncontrolling interests based on their fair values. The excess of the purchase price allocated over those fair values is recorded as goodwill. The purchase price allocations for certain acquisitions completed in 2024 and 2023 are preliminary. We are in the process of assessing working capital balances and lease and other agreements assumed, as well as obtaining and evaluating valuations of the acquired property and equipment, management contracts and other intangible assets, and noncontrolling interests. Therefore, those purchase price allocations, including goodwill, recorded in the accompanying Condensed Consolidated Financial Statements are subject to adjustment once the assessments and valuation work are completed and evaluated. Such adjustments will be recorded as soon as practical and within the measurement period as defined by the accounting literature.
During the six months ended June 30, 2024, we adjusted the preliminary purchase allocations of certain acquisitions completed in 2023 based on the results of completed valuations. These adjustments resulted in a net increase in goodwill of $26 million.
v3.24.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Prior to December 31, 2023, our business was organized into three separate reporting segments: Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended December 31, 2023, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (Hospital Operations). See Note 1 for additional discussion of this change.
Our Hospital Operations segment is comprised of our acute care and specialty hospitals, physician practices and outpatient facilities. At June 30, 2024, our subsidiaries operated 52 hospitals, serving primarily urban and suburban communities in nine states, as well as 148 outpatient facilities, primarily imaging centers, UCCs, ancillary emergency facilities and micro-hospitals. Our Hospital Operations segment also provides revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients.
Our Ambulatory Care segment is comprised of the operations of USPI. At June 30, 2024, USPI had ownership interests in 520 ambulatory surgery centers (377 consolidated) and 24 surgical hospitals (seven consolidated) in 38 states.
The following tables include amounts for each of our reportable segments and the reconciling items necessary to agree to amounts reported in the accompanying Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations, as applicable:
June 30, 2024December 31, 2023
Assets:  
Hospital Operations$17,207 $17,268 
Ambulatory Care12,058 11,044 
Total $29,265 $28,312 
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Capital expenditures:    
Hospital Operations$126 $112 $348 $329 
Ambulatory Care19 20 37 38 
Total $145 $132 $385 $367 
Net operating revenues:
Hospital Operations$3,962 $4,140 $8,335 $8,256 
Ambulatory Care1,141 942 2,136 1,847 
Total $5,103 $5,082 $10,471 $10,103 
Equity in earnings of unconsolidated affiliates:
Hospital Operations$3 $2 $6 $5 
Ambulatory Care58 52 114 99 
Total $61 $54 $120 $104 
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Adjusted EBITDA:    
Hospital Operations$498 $473 $1,128 $965 
Ambulatory Care447 370 841 710 
Total $945 $843 $1,969 $1,675 
Depreciation and amortization:    
Hospital Operations$175 $186 $352 $376 
Ambulatory Care33 27 64 54 
Total $208 $213 $416 $430 
Adjusted EBITDA$945 $843 $1,969 $1,675 
Depreciation and amortization(208)(213)(416)(430)
Impairment and restructuring charges, and acquisition-related costs(29)(16)(56)(37)
Litigation and investigation costs(5)(10)(9)(14)
Interest expense(203)(226)(421)(447)
Loss from early extinguishment of debt— (11)(8)(11)
Other non-operating income, net29 6 54 4 
Net gains on sales, consolidation and deconsolidation of facilities58 — 2,558 13 
Income before income taxes$587 $373 $3,671 $753 
v3.24.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.2
BASIS OF PRESENTATION (Policies)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Basis of Presentation
Tenet Healthcare Corporation (together with our subsidiaries, referred to herein as “Tenet,” “we” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Prior to December 31, 2023, our business was organized into three separate reporting segments: Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended December 31, 2023, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (“Hospital Operations”). The results of the revenue cycle management and value-based care services we provide to hospitals, health systems, physician practices, employers and other clients previously reported under our Conifer segment are now combined with our Hospital Operations segment. See below for additional discussion of this change.
Our expansive, nationwide care delivery network now consists of our Hospital Operations and Ambulatory Care segments. As of June 30, 2024, our Hospital Operations segment was comprised of 52 acute care and specialty hospitals, a network of employed physicians and 148 outpatient facilities, including imaging centers, urgent care centers (each, a “UCC”), ancillary emergency facilities and micro‑hospitals. Our Ambulatory Care segment is comprised of the operations of our subsidiary USPI Holding Company, Inc. (“USPI”), which held indirect ownership interests in 520 ambulatory surgery centers and 24 surgical hospitals at June 30, 2024. USPI held noncontrolling interests in 160 of these facilities, which are recorded using the equity method of accounting. In addition, we operate a Global Business Center (“GBC”) in Manila, Philippines.
This quarterly report supplements our Annual Report on Form 10‑K for the year ended December 31, 2023 (“Annual Report”). As permitted by the Securities and Exchange Commission for interim reporting, we have omitted certain notes and disclosures that substantially duplicate those in our Annual Report. For further information, refer to the audited Consolidated Financial Statements and notes included in our Annual Report. Unless otherwise indicated, all dollar amounts presented in our Condensed Consolidated Financial Statements and these accompanying notes are expressed in millions (except per‑share amounts), and all share amounts are expressed in thousands.
Changes to prior-year presentation—As noted above, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (Hospital Operations) during the three months ended December 31, 2023. This change was made to reflect updates to the organizational and management structure of our Conifer and Hospital Operations and other segments. All prior‑period data presented in this report has been adjusted to conform to our new reporting segment structure.
As of December 31, 2023, our business was organized into two reporting segments:
•our Hospital Operations segment, which includes (1) our acute care and specialty hospitals, physician practices, imaging centers, UCCs, ancillary emergency facilities and micro‑hospitals, and (2) the revenue cycle management and value‑based care services we provide to hospitals, health systems, physician practices, employers and other clients through our Conifer Health Solutions, LLC joint venture; and
•our Ambulatory Care segment, which is comprised of the ambulatory surgery center and surgical hospital operations of our subsidiary USPI.
In addition, due to its increased significance, income tax payable is now presented separately from other current liabilities in the accompanying Condensed Consolidated Balance Sheets.
Although our Condensed Consolidated Financial Statements and these related notes are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. The financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from the amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public.
Operating results for the three and six‑month periods ended June 30, 2024 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: the impact of the demand for, and availability of, qualified medical personnel on compensation costs; overall revenue and cost trends, particularly the timing and magnitude of price changes; fluctuations in contractual allowances and cost report settlements and valuation allowances; managed care contract negotiations, settlements or terminations and payer consolidations; trends in patient accounts receivable collectability and associated implicit price concessions; the impact of cybersecurity incidents on our operations; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; impairment of long‑lived assets and goodwill; restructuring charges; losses, costs and insurance recoveries related to cybersecurity incidents, natural disasters and weather‑related occurrences; the future course and impact of COVID‑19, or the potential emergence and effects of a future pandemic, epidemic or outbreak of an infectious disease, on our operations, financial condition and liquidity; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; gains (losses) on sales, consolidation and deconsolidation of facilities; income tax rates and deferred tax asset valuation allowance activity; changes in estimates of accruals for annual incentive compensation; the timing and amounts of stock option and restricted stock unit grants to employees and directors; gains (losses) from early extinguishment of debt; and changes in occupancy levels and patient volumes.
Our hospitals and outpatient facilities are subject to various factors that affect our service mix, revenue mix and patient volumes and, thereby, impact our net patient service revenues and results of operations. These factors include, among others: changes in federal, state and local healthcare and business regulations; changes in general economic conditions nationally and regionally, including inflation and other factors; the number of uninsured and underinsured individuals in local communities treated at our facilities; disease hotspots and seasonal cycles of illness; climate and weather conditions; physician recruitment, satisfaction, retention and attrition; advances in technology and treatments that reduce length of stay or permit procedures to be performed in an outpatient rather than inpatient setting; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; performance data on quality measures and patient satisfaction, as well as standard charges for services; any unfavorable publicity about us, or our joint venture partners, that impacts our relationships with physicians and patients; and changing consumer behavior, including with respect to the timing of elective procedures. These considerations apply to year‑to‑year comparisons as well.
Cash and Cash Equivalents
We treat highly liquid investments with original maturities of three months or less as cash equivalents. Cash and cash equivalents were $2.880 billion and $1.228 billion at June 30, 2024 and December 31, 2023, respectively. At June 30, 2024 and December 31, 2023, our book overdrafts were $165 million and $187 million, respectively, which were classified as accounts payable. Also at June 30, 2024 and December 31, 2023, $106 million and $100 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our insurance‑related subsidiaries.
In addition, at June 30, 2024 and December 31, 2023, we had $63 million and $154 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $47 million and $141 million, respectively, were included in accounts payable.
During the six months ended June 30, 2024 and 2023, we recorded right‑of‑use assets related to non‑cancellable finance leases of $30 million and $21 million, respectively, and related to non‑cancellable operating leases of $124 million and $74 million, respectively, in each case excluding right‑of‑use assets obtained through business acquisitions.
Investments in Unconsolidated Affiliates As of June 30, 2024, we controlled 384 of the facilities in our Ambulatory Care segment and, therefore, consolidated their results. We account for many of the facilities in which our Ambulatory Care segment holds ownership interests (160 of 544 at June 30, 2024), as well as additional companies in which our Hospital Operations segment holds ownership interests, under the equity method as investments in unconsolidated affiliates and report only our share of net income as equity in earnings of unconsolidated affiliates in our condensed consolidated statements of operations.
v3.24.2
BASIS OF PRESENTATION (Tables)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Changes in the Carrying Amount of Goodwill
The following tables provide information on changes in the carrying amount of goodwill for each of our segments:
Six Months Ended
June 30,
 20242023
Hospital Operations:  
Goodwill at beginning of period, net of accumulated impairment losses$3,119 $3,411 
Purchase price allocation adjustments31 — 
Goodwill related to assets held for sale and disposed(281)(30)
Goodwill at end of period, net of accumulated impairment losses$2,869 $3,381 
Six Months Ended
June 30,
 20242023
Ambulatory Care:
Goodwill at beginning of period$7,188 $6,712 
Goodwill acquired during the year, net of purchase price allocation adjustments815 260 
Goodwill related to assets held for sale and disposed or deconsolidated facilities(73)(3)
Goodwill at end of period$7,930 $6,969 
Schedule of Other Intangible Assets
The following table provides information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets:
Gross
Carrying Amount		Accumulated
Amortization
Net Book Value
At June 30, 2024:
Other intangible assets with finite useful lives:
Capitalized software costs$1,568 $(1,125)$443 
Contracts312 (128)184 
Other90 (78)12 
Other intangible assets with finite lives1,970 (1,331)639 
Other intangible assets with indefinite useful lives:
Trade names105 — 105 
Contracts665 — 665 
Other4 — 4 
Other intangible assets with indefinite lives774 — 774 
Other intangible assets, net$2,744 $(1,331)$1,413 
At December 31, 2023:
Other intangible assets with finite useful lives:
Capitalized software costs$1,712 $(1,205)$507 
Contracts294 (164)130 
Other91 (78)13 
Other intangible assets with finite lives2,097 (1,447)650 
Other intangible assets with indefinite useful lives:
Trade names105 — 105 
Contracts609 — 609 
Other4 — 4 
Other intangible assets with indefinite lives718 — 718 
Other intangible assets, net$2,815 $(1,447)$1,368 
Schedule of Indefinite-Lived Intangible Assets
The following table provides information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets:
Gross
Carrying Amount		Accumulated
Amortization
Net Book Value
At June 30, 2024:
Other intangible assets with finite useful lives:
Capitalized software costs$1,568 $(1,125)$443 
Contracts312 (128)184 
Other90 (78)12 
Other intangible assets with finite lives1,970 (1,331)639 
Other intangible assets with indefinite useful lives:
Trade names105 — 105 
Contracts665 — 665 
Other4 — 4 
Other intangible assets with indefinite lives774 — 774 
Other intangible assets, net$2,744 $(1,331)$1,413 
At December 31, 2023:
Other intangible assets with finite useful lives:
Capitalized software costs$1,712 $(1,205)$507 
Contracts294 (164)130 
Other91 (78)13 
Other intangible assets with finite lives2,097 (1,447)650 
Other intangible assets with indefinite useful lives:
Trade names105 — 105 
Contracts609 — 609 
Other4 — 4 
Other intangible assets with indefinite lives718 — 718 
Other intangible assets, net$2,815 $(1,447)$1,368 
Schedule of Estimated Future Amortization of Intangibles with Finite Useful Lives
Estimated future amortization of intangible assets with finite useful lives at June 30, 2024 was as follows:
Six Months Ending
Years Ending

Later Years
December 31,
 Total20242025202620272028
Amortization of intangible assets$639 $93 $112 $100 $89 $68 $177 
Schedule of Other Current Assets
The principal components of other current assets in the accompanying Condensed Consolidated Balance Sheets were as follows:
 June 30, 2024December 31, 2023
Prepaid expenses$379 $391 
Contract assets193 208 
California provider fee program receivables344 329 
Receivables from other government programs247 282 
Guarantees280 274 
Non-patient receivables310 260 
Other102 95 
Total other current assets$1,855 $1,839 
Schedule of Equity Method Investments Summarized financial information for these equity method investees is included in the following table. For investments acquired during the reported periods, amounts in the table include 100% of the investee’s results beginning on the date of our acquisition of the investment.
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
Net operating revenues$893 $830 $1,728 $1,613 
Net income$193 $203 $409 $388 
Net income available to the investees$97 $121 $220 $228 
v3.24.2
ACCOUNTS RECEIVABLE (Tables)
 6 Months Ended
Jun. 30, 2024
Accounts Receivable Additional Disclosures [Abstract]  
Schedule of Components of Accounts Receivable
The principal components of accounts receivable are presented in the table below:
 June 30, 2024December 31, 2023
Patient accounts receivable$2,654 $2,719 
Estimated future recoveries139 148 
Cost report settlements receivable, net of payables and valuation allowances24 47 
Accounts receivable, net$2,817 $2,914 
Schedule of Location of Assets and Liabilities The following table summarizes the amount and classification of assets and liabilities in the accompanying Condensed Consolidated Balance Sheets related to California’s provider fee program:
 June 30, 2024December 31, 2023
Assets:
Other current assets$344 $329 
Investments and other assets$293 $334 
Liabilities:
Other current liabilities$164 $172 
Other long-term liabilities$103 $135 
Schedule of Estimated Costs for Charity Care and Self-Pay Patients
The following table presents our estimated costs (based on selected operating expenses, which include salaries, wages and benefits, supplies and other operating expenses) of caring for our uninsured and charity patients:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
Estimated costs for:    
Uninsured patients$132 $116 $271 $239 
Charity care patients25 28 46 52 
Total
$157 $144 $317 $291 
v3.24.2
CONTRACT BALANCES (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule Of Opening And Closing Balances Of Company's Contract Assets
The opening and closing balances of our Hospital Operations segment’s receivables, contract assets, and current and long-term contract liabilities were as follows:
ReceivablesContract Assets –
Unbilled Revenue		Contract Liabilities –
Current
Deferred Revenue		Contract Liabilities –
Long-Term
Deferred Revenue
December 31, 2023$21 $208 $59 $12 
June 30, 202428 193 83 13 
Increase (decrease)$7 $(15)$24 $1 
December 31, 2022$37 $200 $110 $13 
June 30, 202318 186 76 12 
Decrease$(19)$(14)$(34)$(1)
v3.24.2
DISPOSITION OF ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2024
Discontinued Operation, Additional Disclosures [Abstract]  
Schedule of Assets and Liabilities Classified As Held for Sale
Assets and liabilities classified as held for sale at June 30, 2024 were comprised of the following:
Other current assets$5 
Other intangible assets16 
Other current liabilities(11)
Net assets held for sale$10 
The following table presents amounts included in income before income taxes, related to a significant component of our business that was recently disposed of:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
SC Hospitals (includes a $1.677 billion gain on sale in the six months ended June 30, 2024)
$3 $32 $1,689 $60 
v3.24.2
LONG-TERM DEBT (Tables)
 6 Months Ended
Jun. 30, 2024
Long-Term Debt and Lease Obligation [Abstract]  
Schedule of Long-Term Debt
The table below presents our long‑term debt included in the accompanying Condensed Consolidated Balance Sheets:
 June 30, 2024December 31, 2023
Senior unsecured notes:  
6.125% due 2028
$2,500 $2,500 
6.875% due 2031
362 362 
Senior secured first lien notes:  
4.875% due 2026
— 2,100 
5.125% due 2027
1,500 1,500 
4.625% due 2028
600 600 
4.250% due 2029
1,400 1,400 
4.375% due 2030
1,450 1,450 
6.125% due 2030
2,000 2,000 
6.750% due 2031
1,350 1,350 
Senior secured second lien notes:
6.250% due 2027
1,500 1,500 
Finance leases, mortgages and other notes311 361 
Unamortized issue costs and note discounts(102)(121)
Total long-term debt12,871 15,002 
Less: Current portion102 120 
Long-term debt, net of current portion$12,769 $14,882 
v3.24.2
EMPLOYEE BENEFIT PLANS (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table provides information about our stock option activity during the six months ended June 30, 2024:
 Number of Options
Wtd. Avg. Exercise Price
Per Share
Aggregate
Intrinsic Value
Wtd. Avg.
Remaining Life
   (In Millions) 
Outstanding at December 31, 2023
384,440 $22.79   
Exercised(155,943)$22.64   
Outstanding at June 30, 2024
228,497 $22.88 $25 3.7 years
Schedule of Information about Outstanding Stock Options
The following table provides additional information about our outstanding stock options, all of which were vested and exercisable, at June 30, 2024:
 Options Outstanding and Exercisable
Range of Exercise Prices Number of
Options		Wtd. Avg.
Remaining
Contractual Life		Wtd. Avg.
Exercise Price
Per Share
$18.99 to $20.609
161,285 3.3 years$19.99 
$20.61 to $35.430
67,212 4.5 years$29.82 
228,497 3.7 years$22.88 
Schedule of Restricted Stock Unit Activity
The following table presents information about our restricted stock unit (“RSU”) activity during the six months ended June 30, 2024:
Number of RSUs
Wtd. Avg.
Grant Date Fair 
Value Per RSU
Unvested at December 31, 20231,421,063 $66.46 
Granted572,055 $94.64 
Performance-based adjustment205,075 $66.48 
Vested(660,080)$65.29 
Forfeited(1,961)$62.64 
Unvested at June 30, 20241,536,152 $81.35 
The table below summarizes the time-based RSUs granted during the six months ended June 30, 2024:
No. of RSUs
Vesting Terms
263,714
RSUs will vest ratably over a three‑year period from the grant date
11,002
RSUs granted to our non-employee directors for the 2024-25 board service year, which will vest on the first anniversary of the grant date
The table below summarizes the performance-based RSUs granted during the six months ended June 30, 2024:
No. of RSUs
Performance PeriodPotential Vesting Range
Vesting TermsMinimumMaximum
291,734
RSUs will vest on the third anniversary of the grant date
2024 to 2026
— %250 %
5,605
RSUs will vest on the third anniversary of the grant date
2024 to 2026— %150 %
The table below summarizes the time-based RSUs granted during the six months ended June 30, 2023:
No. of RSUs
Vesting Terms
301,562
RSUs will vest ratably over a three‑year period from the grant date
42,626
RSUs will vest on the fifth anniversary of the grant date
37,740
RSUs granted to our non-employee directors for the 2023-24 board service year, which vested immediately
33,586
RSUs that were scheduled to vest, and did vest, in December 2023
7,720
RSUs will vest on the third anniversary of the grant date
The table below summarizes the performance-based RSUs granted during the six months ended June 30, 2023:
No. of RSUs
Performance PeriodPotential Vesting Range
Vesting TermsMinimumMaximum
301,562
RSUs will vest on the third anniversary of the grant date
2023 to 2025
— %225 %
7,720
RSUs will vest on the third anniversary of the grant date
2023 to 2025
— %150 %
The following table summarizes RSU activity under the USPI Management Equity Plan during the six months ended June 30, 2024:
Number of RSUs
Wtd. Avg.
Grant Date Fair Value Per RSU
Unvested at December 31, 2023607,984 $34.13 
Vested(605,987)$34.13 
Forfeited(1,997)$34.13 
Unvested at June 30, 2024— $34.13 
Schedule of Significant Inputs used in Valuation of RSUs Significant inputs used in our valuation of these RSUs included the following:
Six Months Ended June 30,
20242023
Expected volatility
34.9% - 52.1%
53.6% - 65.6%
Risk-free interest rate
4.4% - 4.9%
4.2% - 4.8%
v3.24.2
EQUITY (Tables)
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Changes In Consolidated Equity
The following tables present the changes in consolidated equity (dollars in millions, share amounts in thousands):
Common StockAdditional
Paid-In
Capital		Accumulated
Other
Comprehensive
Loss		Retained Earnings
(Accumulated
Deficit)		Treasury
Stock		Noncontrolling
Interests		Total Equity
Shares
Outstanding		Issued Par
Amount
Balances at December 31, 202399,950 $8 $4,834 $(181)$(192)$(2,861)$1,509 $3,117 
Net income— — — — 2,151 — 82 2,233 
Distributions paid to noncontrolling interests— — — — — — (78)(78)
Other comprehensive income— — — 2 — — — 2 
Sales of businesses and noncontrolling interests, net— — (5)— — — (23)(28)
Repurchases of common stock(2,811)— — — — (280)— (280)
Stock-based compensation expense and issuance of common stock534 — (23)— — — — (23)
Balances at March 31, 202497,673 8 4,806 (179)1,959 (3,141)1,490 4,943 
Net income— — — — 259 — 97 356 
Distributions paid to noncontrolling interests— — — — — — (70)(70)
Other comprehensive income— — — 2 — — — 2 
Purchases of businesses and noncontrolling interests, net— — 12 — — — 64 76 
Repurchases of common stock(1,990)— — — — (273)— (273)
Stock-based compensation expense and issuance of common stock136 — 22 — — — — 22 
Balances at June 30, 202495,819 $8 $4,840 $(177)$2,218 $(3,414)$1,581 $5,056 
Common StockAdditional
Paid-In
Capital		Accumulated
Other
Comprehensive
Loss		Accumulated
Deficit		Treasury
Stock		Noncontrolling
Interests		Total Equity
Shares
Outstanding		Issued Par
Amount
Balances at December 31, 2022102,247 $8 $4,778 $(181)$(803)$(2,660)$1,317 $2,459 
Net income— — — — 143 — 74 217 
Distributions paid to noncontrolling interests— — — — — — (61)(61)
Other comprehensive income— — — 2 — — — 2 
Purchases of businesses and noncontrolling interests, net— — 2 — — — 17 19 
Repurchases of common stock(906)— — — — (50)— (50)
Stock-based compensation expense and issuance of common stock571 — (6)— — — — (6)
Balances at March 31, 2023101,912 8 4,774 (179)(660)(2,710)1,347 2,580 
Net income— — — — 123 — 82 205 
Distributions paid to noncontrolling interests— — — — — — (66)(66)
Other comprehensive income— — — 1 — — — 1 
Purchases of businesses and noncontrolling interests, net— — 4 — — — 18 22 
Repurchases of common stock(580)— — — — (40)— (40)
Stock-based compensation expense and issuance of common stock177 — 22 — — — — 22 
Balances at June 30, 2023101,509 $8 $4,800 $(178)$(537)$(2,750)$1,381 $2,724 
Schedule of Share Repurchase Activity
The following tables summarize transactions completed under the repurchase program during the periods shown:
PeriodTotal Number of Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced ProgramMaximum Dollar Value of Shares That May Yet be Purchased Under the Program
 (In Thousands)(In Thousands)(In Millions)
Six Months Ended June 30, 2024:
January 1 through January 31, 2024—$— —$550 
February 1 through February 29, 2024—$— —$550 
March 1 through March 31, 20242,811$98.86 2,811$272 
April 1 through April 30, 2024—$— —$272 
May 1 through May 31, 2024—$— —$272 
June 1 through June 30, 20241,990$135.85 1,990$2 
January 1 through June 30, 20244,801$114.19 4,801
PeriodTotal Number of Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Purchased as Part of Publicly Announced ProgramMaximum Dollar Value of Shares That May Yet be Purchased Under the Program
 (In Thousands)(In Thousands)(In Millions)
Six Months Ended June 30, 2023:
January 1 through January 31, 2023—$— —$750 
February 1 through February 28, 2023—$— —$750 
March 1 through March 31, 2023906$55.03 906$700 
April 1 through April 30, 2023—$— —$700 
May 1 through May 31, 2023580$69.17 580$660 
June 1 through June 30, 2023—$— —$660 
January 1 through June 30, 20231,486$60.55 1,486
v3.24.2
NET OPERATING REVENUES (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Operating Revenues Less Provision for Doubtful Accounts and Implicit Price Concessions
The table below presents our sources of net operating revenues:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Hospital Operations:  
Net patient service revenues from hospitals and related outpatient facilities:
Medicare$518 $599 $1,128 $1,212 
Medicaid370 264 781 544 
Managed care2,383 2,565 5,039 5,068 
Uninsured11 29 30 60 
Indemnity and other137 156 291 296 
Total3,419 3,613 7,269 7,180 
Other revenues(1)
543 527 1,066 1,076 
Total Hospital Operations3,962 4,140 8,335 8,256 
Ambulatory Care1,141 942 2,136 1,847 
Net operating revenues$5,103 $5,082 $10,471 $10,103 
(1)Primarily revenue from physician practices and revenue cycle management. Revenue from revenue cycle management services is included in other revenues for all periods presented to conform with our new reporting segment structure.
The following table presents the composition of net operating revenues for our Ambulatory Care segment:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Net patient service revenues
$1,100 $905 $2,054 $1,773 
Management fees34 30 67 60 
Revenue from other sources7 7 15 14 
Net operating revenues$1,141 $942 $2,136 $1,847 
Schedule of Performance Obligation, Expected Timing of Satisfaction
The following table includes revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period:
  Six Months EndingYears EndingLater Years
December 31,
 Total20242025202620272028
Performance obligations$5,748 $347 $690 $689 $688 $687 $2,647 
v3.24.2
CLAIMS AND LAWSUITS (Tables)
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Reconciliations of Legal Settlements and Related Costs
The following table presents reconciliations of the beginning and ending liability balances in connection with legal settlements and related costs:
Balances at
Beginning
of Period		Litigation and
Investigation
Costs
Cash
Payments		Balances at
End of
Period
Six Months Ended June 30, 2024$40 $9 $(20)$29 
Six Months Ended June 30, 2023$51 $14 $(46)$19 
v3.24.2
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES (Tables)
 6 Months Ended
Jun. 30, 2024
Noncontrolling Interest [Abstract]  
Schedule of Changes in Redeemable Noncontrolling Interests in Equity of Consolidated Subsidiaries
The following table presents the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries for the periods presented:
 Six Months Ended June 30,
 20242023
Balances at beginning of period $2,391 $2,149 
Net income222 167 
Distributions paid to noncontrolling interests(175)(143)
Purchases and sales of businesses and noncontrolling interests, net375 104 
Balances at end of period $2,813 $2,277 
The following tables present the composition by segment of our redeemable noncontrolling interests balances, as well as our net income available to redeemable noncontrolling interests:
 June 30, 2024December 31, 2023
Hospital Operations$910 $860 
Ambulatory Care1,903 1,531 
Redeemable noncontrolling interests$2,813 $2,391 
 Six Months Ended June 30,
 20242023
Hospital Operations$53 $44 
Ambulatory Care169 123 
Net income available to redeemable noncontrolling interests$222 $167 
v3.24.2
INCOME TAXES (Tables)
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation Between Reported Income Tax Expense and Income Taxes Calculated by the Statutory Federal Income Tax Rate
A reconciliation between the amount of reported income tax expense and the amount computed by multiplying income before income taxes by the statutory federal tax rate is presented below:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Tax expense at statutory federal rate of 21%$123 $78 $771 $158 
State income taxes, net of federal income tax benefit22 12 225 28 
Tax benefit attributable to noncontrolling interests(46)(35)(84)(67)
Nondeductible goodwill2 — 128 — 
Stock-based compensation tax benefit(1)(2)(6)(4)
Changes in valuation allowance7 23 (178)42 
Other items3 4 4 7 
Income tax expense$110 $80 $860 $164 
v3.24.2
EARNINGS PER COMMON SHARE (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Reconcile of Numerators and Denominators of Our Basic and Diluted Earnings Per Common Share
The following table reconciles the numerators and denominators of our basic and diluted earnings per common share calculations. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands.
 
Net Income Available
to Common
Shareholders
(Numerator)
Wtd. Avg. Shares
(Denominator)
Per-Share Amount
Three Months Ended June 30, 2024   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$259 97,267 $2.66 
Effect of dilutive instruments1 1,177 (0.02)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$260 98,444 $2.64 
Three Months Ended June 30, 2023   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$123 101,766 $1.21 
Effect of dilutive instruments(3)3,012 (0.06)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$120 104,778 $1.15 
Six Months Ended June 30, 2024   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$2,410 98,424 $24.49 
Effect of dilutive instruments1 1,133 (0.27)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$2,411 99,557 $24.22 
Six Months Ended June 30, 2023   
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share
$266 102,028 $2.61 
Effect of dilutive instruments(6)3,326 (0.14)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share
$260 105,354 $2.47 
v3.24.2
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assets on a Nonrecurring Basis The following table presents this information about assets measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair values:
TotalQuoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
June 30, 2024
Long-lived assets held for sale$21 $— $21 $— 
December 31, 2023
Long-lived assets held for sale$775 $— $775 $— 
v3.24.2
ACQUISITIONS (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Purchase Price Allocation
Preliminary purchase price allocations (representing the fair value of the consideration conveyed) for all acquisitions made during the six months ended June 30, 2024 and 2023 were as follows:
Six Months Ended June 30,
20242023
Current assets$67 $13 
Property and equipment42 8 
Other intangible assets132 5 
Goodwill820 257 
Long-term operating lease assets99 8 
Other long-term assets1 — 
Previously held investments in unconsolidated affiliates(23)(37)
Current liabilities(67)(8)
Long-term operating lease liabilities(88)(7)
Other long-term liabilities(12)(4)
Redeemable noncontrolling interests in equity of consolidated subsidiaries(381)(95)
Noncontrolling interests(59)(31)
Cash paid, net of cash acquired(500)(96)
Gains on consolidations$31 $13 
v3.24.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Reconciliation of Assets by Reportable Segment to Consolidated Assets
The following tables include amounts for each of our reportable segments and the reconciling items necessary to agree to amounts reported in the accompanying Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations, as applicable:
June 30, 2024December 31, 2023
Assets:  
Hospital Operations$17,207 $17,268 
Ambulatory Care12,058 11,044 
Total $29,265 $28,312 
Schedule of Reconciliation of Other Significant Reconciling Items From Segments to Consolidated
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Capital expenditures:    
Hospital Operations$126 $112 $348 $329 
Ambulatory Care19 20 37 38 
Total $145 $132 $385 $367 
Net operating revenues:
Hospital Operations$3,962 $4,140 $8,335 $8,256 
Ambulatory Care1,141 942 2,136 1,847 
Total $5,103 $5,082 $10,471 $10,103 
Equity in earnings of unconsolidated affiliates:
Hospital Operations$3 $2 $6 $5 
Ambulatory Care58 52 114 99 
Total $61 $54 $120 $104 
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Adjusted EBITDA:    
Hospital Operations$498 $473 $1,128 $965 
Ambulatory Care447 370 841 710 
Total $945 $843 $1,969 $1,675 
Depreciation and amortization:    
Hospital Operations$175 $186 $352 $376 
Ambulatory Care33 27 64 54 
Total $208 $213 $416 $430 
Adjusted EBITDA$945 $843 $1,969 $1,675 
Depreciation and amortization(208)(213)(416)(430)
Impairment and restructuring charges, and acquisition-related costs(29)(16)(56)(37)
Litigation and investigation costs(5)(10)(9)(14)
Interest expense(203)(226)(421)(447)
Loss from early extinguishment of debt— (11)(8)(11)
Other non-operating income, net29 6 54 4 
Net gains on sales, consolidation and deconsolidation of facilities58 — 2,558 13 
Income before income taxes$587 $373 $3,671 $753 
v3.24.2
BASIS OF PRESENTATION - Description of Business and Basis of Presentation (Details)
 6 Months Ended 12 Months Ended
Jun. 30, 2024
hospital
Jun. 30, 2024
healthcare_facility
Dec. 31, 2023
segment
Dec. 31, 2022
segment
Business Acquisition [Line Items]        
Number of reportable segments | segment     2 3
Hospital Operations        
Business Acquisition [Line Items]        
Number of acute care and specialty hospitals operated 52      
Number of outpatient facilities operated | healthcare_facility   148    
United Surgical Partners International | Ambulatory Care        
Business Acquisition [Line Items]        
Number of ambulatory surgery centers 520      
Number of surgical hospitals operated by subsidiaries 24      
Number of outpatient centers recorded using equity method 160 160    
v3.24.2
BASIS OF PRESENTATION - Cash and Cash Equivalents (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash and Cash Equivalents      
Cash and cash equivalents $ 2,880   $ 1,228
Accrued property and equipment purchases for items received but not yet paid 63   154
Non-cancellable finance leases entered into 30 $ 21  
Non-cancellable operating leases liability entered into 124 $ 74  
Captive Insurance Subsidiaries      
Cash and Cash Equivalents      
Cash and cash equivalents 106   100
Accounts Payable      
Cash and Cash Equivalents      
Book overdrafts classified as accounts payable 165   187
Accrued property and equipment purchases for items received but not yet paid $ 47   $ 141
v3.24.2
BASIS OF PRESENTATION - Goodwill (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Goodwill [Roll Forward]    
Goodwill at beginning of period, net of accumulated impairment losses $ 10,307  
Purchase price allocation adjustments 26  
Goodwill at end of period, net of accumulated impairment losses 10,799  
Hospital Operations:    
Goodwill [Roll Forward]    
Goodwill at beginning of period, net of accumulated impairment losses 3,119 $ 3,411
Purchase price allocation adjustments 31 0
Goodwill related to assets held for sale and disposed (281) (30)
Goodwill at end of period, net of accumulated impairment losses 2,869 3,381
Ambulatory Care:    
Goodwill [Roll Forward]    
Goodwill at beginning of period, net of accumulated impairment losses 7,188 6,712
Goodwill acquired during the year, net of purchase price allocation adjustments 815 260
Goodwill related to assets held for sale and disposed (73) (3)
Goodwill at end of period, net of accumulated impairment losses $ 7,930 $ 6,969
v3.24.2
BASIS OF PRESENTATION - Other Intangible Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 1,970 $ 2,097
Accumulated Amortization (1,331) (1,447)
Net Book Value 639 650
Other intangible assets with indefinite lives 774 718
Gross Carrying Amount 2,744 2,815
Net Book Value 1,413 1,368
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Other intangible assets with indefinite lives 105 105
Contracts    
Finite-Lived Intangible Assets [Line Items]    
Other intangible assets with indefinite lives 665 609
Other    
Finite-Lived Intangible Assets [Line Items]    
Other intangible assets with indefinite lives 4 4
Capitalized software costs    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 1,568 1,712
Accumulated Amortization (1,125) (1,205)
Net Book Value 443 507
Contracts    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 312 294
Accumulated Amortization (128) (164)
Net Book Value 184 130
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 90 91
Accumulated Amortization (78) (78)
Net Book Value $ 12 $ 13
v3.24.2
BASIS OF PRESENTATION - Amortization of Intangible Assets (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]      
Net Book Value $ 639   $ 650
2024 93    
2025 112    
2026 100    
2027 89    
2028 68    
Later Years 177    
Amortization expense $ 89 $ 84  
v3.24.2
BASIS OF PRESENTATION - Other Current Asset (Details) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Accounts receivable and allowance for doubtful accounts    
Prepaid expenses $ 379,000,000 $ 391,000,000
Contract assets 193,000,000 208,000,000
California provider fee program receivables 2,817,000,000 2,914,000,000
Receivables from other government programs 247,000,000 282,000,000
Guarantees 280,000,000 274,000,000
Non-patient receivables 310,000,000 260,000,000
Other 102,000,000 95,000,000
Total other current assets 1,855,000,000 1,839,000,000
Advances received from managed care payers 342,000,000 0
California's Provider Fee Program    
Accounts receivable and allowance for doubtful accounts    
California provider fee program receivables $ 344,000,000 $ 329,000,000
v3.24.2
BASIS OF PRESENTATION - Investments in Unconsolidated Affiliates (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2024
healthcare_facility
Jun. 30, 2024
hospital
Jun. 30, 2024
Jun. 30, 2023
USD ($)
Schedule of Equity Method Investments [Line Items]              
Investee results reflected (percent)           1  
Net operating revenues $ 5,103 $ 5,082 $ 10,471       $ 10,103
Net income 477 293 2,811       589
Equity Method Investment, Nonconsolidated Investee or Group of Investees              
Schedule of Equity Method Investments [Line Items]              
Net operating revenues 893 830 1,728       1,613
Net income 193 203 409       388
Net income available to the investees 97 121 220       228
Ambulatory Care              
Schedule of Equity Method Investments [Line Items]              
Number of outpatient centers operated | hospital         384    
Number of outpatient centers | hospital         544    
Net operating revenues $ 1,141 $ 942 $ 2,136       $ 1,847
Ambulatory Care | United Surgical Partners International              
Schedule of Equity Method Investments [Line Items]              
Number of outpatient centers recorded using equity method       160 160    
v3.24.2
ACCOUNTS RECEIVABLE - Components of Accounts Receivable (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Accounts receivable and allowance for doubtful accounts    
Accounts receivable, net $ 2,817 $ 2,914
Continuing Operations    
Accounts receivable and allowance for doubtful accounts    
Patient accounts receivable 2,654 2,719
Estimated future recoveries 139 148
Cost report settlements receivable, net of payables and valuation allowances 24 47
Accounts receivable, net $ 2,817 $ 2,914
v3.24.2
ACCOUNTS RECEIVABLE - Location of Assets and Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets:    
Other current assets $ 2,817 $ 2,914
Liabilities:    
Other current liabilities 1,270 1,408
California's Provider Fee Program    
Assets:    
Other current assets 344 329
Investments and other assets 293 334
Liabilities:    
Other current liabilities 164 172
Other long-term liabilities $ 103 $ 135
v3.24.2
ACCOUNTS RECEIVABLE - Allowance (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Accounts receivable and allowance for doubtful accounts        
Estimated costs of caring $ 157 $ 144 $ 317 $ 291
Uninsured patients        
Accounts receivable and allowance for doubtful accounts        
Estimated costs of caring 132 116 271 239
Charity care patients        
Accounts receivable and allowance for doubtful accounts        
Estimated costs of caring $ 25 $ 28 $ 46 $ 52
v3.24.2
CONTRACT BALANCES - Hospital Operations and Ambulatory Care Segments (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Percentage of contract assets that meet the conditions for unconditional right to payment (percentage) 89.00%   89.00%
Contract Assets – Unbilled Revenue      
Balance at beginning of period $ 208    
Balance at end of period 193    
Hospital Operations      
Receivables      
Balance at beginning of period 21 $ 37  
Balance at end of period 28 18  
Increase (decrease) 7 (19)  
Contract Assets – Unbilled Revenue      
Balance at beginning of period 208 200  
Balance at end of period 193 186  
Increase (decrease) (15) (14)  
Contract Liabilities – Current Deferred Revenue      
Balance at beginning of period 59 110  
Balance at end of period 83 76  
Contract Liabilities – Long-Term Deferred Revenue      
Balance at beginning of period 12 13  
Balance at end of period 13 12  
Hospital Operations | Short-term Contract with Customer      
Contract Liabilities – Current Deferred Revenue      
Increase (decrease) 24 (34)  
Contract Liabilities – Long-Term Deferred Revenue      
Increase (decrease) 24 (34)  
Hospital Operations | Long-term Contract with Customer      
Contract Liabilities – Current Deferred Revenue      
Increase (decrease) 1 (1)  
Contract Liabilities – Long-Term Deferred Revenue      
Increase (decrease) $ 1 $ (1)  
v3.24.2
CONTRACT BALANCES - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]    
Amount of revenue recognized included in current deferred revenue liability $ 52 $ 70
v3.24.2
CONTRACT BALANCES - Contract Costs (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Unamortized deferred contract setup costs $ 20 $ 22
v3.24.2
DISPOSITION OF ASSETS AND LIABILITIES - Narrative (Details)
$ in Millions
 1 Months Ended 6 Months Ended
Feb. 29, 2024
hospital
Jan. 31, 2024
hospital
Nov. 30, 2023
hospital
Jun. 30, 2024
USD ($)
hospital
SC Hospitals | Discontinued Operations, Held-for-sale        
Current Assets and Liabilities Held for Sale        
Number of hospitals for sale | hospital     3  
SC Hospitals | Disposal Group, Disposed of by Sale, Not Discontinued Operations        
Current Assets and Liabilities Held for Sale        
Gain on sale of properties | $       $ 1,677
OCLA CA Hospitals | Discontinued Operations, Held-for-sale        
Current Assets and Liabilities Held for Sale        
Number of hospitals for sale | hospital   4    
Gain on sale of properties | $       526
Central CA Hospitals | Discontinued Operations, Held-for-sale        
Current Assets and Liabilities Held for Sale        
Number of hospitals for sale | hospital 2      
Gain on sale of properties | $       275
Ambulatory Surgery Centers | Disposal Group, Disposed of by Sale, Not Discontinued Operations        
Current Assets and Liabilities Held for Sale        
Gain on sale of properties | $       $ 43
Number of ambulatory surgery centers for sale | hospital       3
v3.24.2
DISPOSITION OF ASSETS AND LIABILITIES - Schedule of Assets and Liabilities Held for Sale (Details) - Discontinued Operations, Held-for-sale
$ in Millions
Jun. 30, 2024
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Other current assets $ 5
Other intangible assets 16
Other current liabilities (11)
Net assets held for sale $ 10
v3.24.2
DISPOSITION OF ASSETS AND LIABILITIES - Schedule of Significant Components (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - SC Hospitals - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Income from continuing operations, before income taxes: $ 3 $ 32 $ 1,689 $ 60
Gain on sale of properties     $ 1,677  
v3.24.2
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Impairment and restructuring charges, and acquisition-related costs $ 29 $ 16 $ 56 $ 37
Restructuring charges     32 31
Acquisition costs     22 4
Impairment charges     2 2
Other restructuring costs     7 5
Contract and lease termination costs       2
Legal Costs Related to the Sale of Certain Facilities        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Restructuring charges     14 11
Employee Severance        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Restructuring charges     6 6
Global Business Center in the Republic of Philippines        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Restructuring charges     $ 5 $ 7
v3.24.2
LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Finance leases, mortgages and other notes $ 311 $ 361
Unamortized issue costs and note discounts (102) (121)
Total long-term debt 12,871 15,002
Less: Current portion 102 120
Long-term debt, net of current portion $ 12,769 14,882
Senior Notes | 6.125% due 2028    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 6.125%  
Carrying amount $ 2,500 2,500
Senior Notes | 6.875% due 2031    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 6.875%  
Carrying amount $ 362 362
Senior Notes | 4.875% due 2026    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 4.875%  
Carrying amount $ 0 2,100
Senior Notes | 5.125% due 2027    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 5.125%  
Carrying amount $ 1,500 1,500
Senior Notes | 4.625% due 2028    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 4.625%  
Carrying amount $ 600 600
Senior Notes | 4.250% due 2029    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 4.25%  
Carrying amount $ 1,400 1,400
Senior Notes | 4.375% due 2030    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 4.375%  
Carrying amount $ 1,450 1,450
Senior Notes | 6.125% due 2030    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 6.125%  
Carrying amount $ 2,000 2,000
Senior Notes | 6.750% due 2031    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 6.75%  
Carrying amount $ 1,350 1,350
Senior Notes | 6.250% due 2027    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Stated interest rate, percentage 6.25%  
Carrying amount $ 1,500 $ 1,500
v3.24.2
LONG-TERM DEBT - Senior Unsecured and Senior Secured Notes (Narrative) (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
LONG-TERM DEBT AND LEASE OBLIGATIONS          
Loss from early extinguishment of debt $ 0   $ 11,000,000 $ 8,000,000 $ 11,000,000
Senior Notes          
LONG-TERM DEBT AND LEASE OBLIGATIONS          
Long term debt, face amount $ 12,662,000,000     $ 12,662,000,000  
Loss from early extinguishment of debt   $ 8,000,000      
Senior Notes | 4.875% due 2026          
LONG-TERM DEBT AND LEASE OBLIGATIONS          
Stated interest rate, percentage 4.875%     4.875%  
Repurchased face amount $ 2,100,000,000     $ 2,100,000,000  
Senior Notes | Minimum          
LONG-TERM DEBT AND LEASE OBLIGATIONS          
Stated interest rate, percentage 4.25%     4.25%  
Senior Notes | Maximum          
LONG-TERM DEBT AND LEASE OBLIGATIONS          
Stated interest rate, percentage 6.875%     6.875%  
v3.24.2
LONG-TERM DEBT - Credit Agreement (Narrative) (Details) - Credit Agreement - Credit Agreement
 6 Months Ended
Jun. 30, 2024
USD ($)
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Cash borrowings outstanding $ 0
Standby letters of credit outstanding (less than) 1,000,000
Amount available for borrowing under revolving credit facility 1,500,000,000
Revolving Credit Facility  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Revolving credit facility, maximum borrowing capacity (up to) $ 1,500,000,000
Revolving Credit Facility | Minimum  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Unused commitment fee (percentage) 0.25%
Revolving Credit Facility | Maximum  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Unused commitment fee (percentage) 0.375%
Revolving Credit Facility | Base rate | Minimum  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Margin on variable rate (percentage) 0.25%
Revolving Credit Facility | Base rate | Maximum  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Margin on variable rate (percentage) 0.75%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Basis spread on credit spread 0.10%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Margin on variable rate (percentage) 1.25%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Margin on variable rate (percentage) 1.75%
Letter of Credit  
LONG-TERM DEBT AND LEASE OBLIGATIONS  
Revolving credit facility, maximum borrowing capacity (up to) $ 200,000,000
v3.24.2
LONG-TERM DEBT - Letter of Credit Facility (Narrative) (Details) - Credit Agreement - Letter of Credit Facility - Letter of Credit
 1 Months Ended
Sep. 30, 2023
day
Jun. 30, 2024
USD ($)
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Revolving credit facility, maximum borrowing capacity (up to)   $ 200,000,000
Margin on variable rate (percentage) 0.50%  
Secured debt to EBITDA ratio 3.00  
Interest rate on issued but undrawn letters of credit 1.50%  
Issuance fee, based on face amount (percentage) 0.125%  
Maximum secured debt covenant ratio 4.25  
Standby letters of credit outstanding (less than)   $ 108,000,000
Minimum    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Unused commitment fee (percentage) 0.25%  
Maximum    
LONG-TERM DEBT AND LEASE OBLIGATIONS    
Number of business days after notice, for reimbursement of amount drawn | day 3  
Unused commitment fee (percentage) 0.375%  
v3.24.2
GUARANTEES (Details)
$ in Millions
Jun. 30, 2024
USD ($)
Income and Revenue Collection Guarantee  
GUARANTEES  
Maximum potential amount of future payments under guarantees $ 340
Income and Revenue Collection Guarantee | Other current liabilities  
GUARANTEES  
Liability for the fair value of guarantees 280
Guaranteed Investees of Third Parties  
GUARANTEES  
Maximum potential amount of future payments under guarantees 80
Guaranteed Investees of Third Parties | Other current liabilities  
GUARANTEES  
Guarantee obligations for consolidated subsidiaries $ 18
v3.24.2
EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation costs, pretax $ 36 $ 33
Restricted Stock Units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unrecognized compensation costs $ 92  
Period for recognition of unrecognized compensation costs 2 years 2 months 12 days  
Stock Options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Exercised (in shares) 155,943 76,507
Aggregate Intrinsic value of awards exercised $ 13 $ 4
Granted (in shares) 0 0
v3.24.2
EMPLOYEE BENEFIT PLANS - Stock Options (Details) - Stock Options - USD ($)
$ / shares in Units, $ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Number of Options    
Outstanding at the beginning of the period (in shares) 384,440  
Exercised (in shares) (155,943) (76,507)
Outstanding at the end of the period (in shares) 228,497  
Wtd. Avg. Exercise Price Per Share    
Outstanding at the beginning of the period (in dollars per share) $ 22.79  
Exercised (in dollars per share) 22.64  
Outstanding at the end of the period (in dollars per share) $ 22.88  
Aggregate Intrinsic Value    
Outstanding at the end of the period $ 25  
Wtd. Avg. Remaining Life    
Outstanding at the end of the period 3 years 8 months 12 days  
v3.24.2
EMPLOYEE BENEFIT PLANS - Schedule of Information about Outstanding Stock Options (Details) - Stock Options
 6 Months Ended
Jun. 30, 2024
$ / shares
shares
Number of Options  
Number of Options (in shares) | shares 228,497
Wtd. Avg. Remaining Contractual Life 3 years 8 months 12 days
Weighted Average Exercise Price (in dollars per share) $ 22.88
$18.99 to $20.609  
Number of Options  
Number of Options (in shares) | shares 161,285
Wtd. Avg. Remaining Contractual Life 3 years 3 months 18 days
Weighted Average Exercise Price (in dollars per share) $ 19.99
$20.61 to $35.430  
Number of Options  
Number of Options (in shares) | shares 67,212
Wtd. Avg. Remaining Contractual Life 4 years 6 months
Weighted Average Exercise Price (in dollars per share) $ 29.82
Minimum | $18.99 to $20.609  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price per share, low end of the range (in dollars per share) 18.99
Minimum | $20.61 to $35.430  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price per share, low end of the range (in dollars per share) 20.61
Maximum | $18.99 to $20.609  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price per share, high end of the range (in dollars per share) 20.609
Maximum | $20.61 to $35.430  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price per share, high end of the range (in dollars per share) $ 35.430
v3.24.2
EMPLOYEE BENEFIT PLANS - Restricted Stock Units (Details) - $ / shares
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Restricted Stock Units    
Number of RSUs    
Unvested at the beginning of the period (in shares) 1,421,063  
Granted (in shares) 572,055  
Vested (in shares) (660,080)  
Forfeited (in shares) (1,961)  
Unvested at the end of the period (in shares) 1,536,152  
Wtd. Avg. Grant Date Fair  Value Per RSU    
Unvested at the beginning of the period (in dollars per share) $ 66.46  
Granted (in dollars per share) 94.64  
Vested (in dollars per share) 65.29  
Forfeited (in dollars per share) 62.64  
Unvested at the end of the period (in dollars per share) $ 81.35  
Other Disclosures    
Awards granted in the period (in shares) 572,055  
Performance Based Restricted Stock Unit    
Number of RSUs    
Granted (in shares) 205,075  
Wtd. Avg. Grant Date Fair  Value Per RSU    
Granted (in dollars per share) $ 66.48  
Other Disclosures    
Awards granted in the period (in shares) 205,075  
Shares issued (in shares) 205,075 185,901
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250%    
Number of RSUs    
Granted (in shares) 291,734  
Other Disclosures    
Awards granted in the period (in shares) 291,734  
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Minimum    
Other Disclosures    
Vesting percentage 0.00%  
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Minimum | Awards Granted In 2024    
Other Disclosures    
Vesting percentage 0.00%  
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Maximum    
Other Disclosures    
Vesting percentage 250.00%  
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Maximum | Awards Granted In 2024    
Other Disclosures    
Vesting percentage 250.00%  
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 225% | Minimum | Awards Granted In 2023    
Other Disclosures    
Vesting percentage 0.00%  
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 225% | Maximum | Awards Granted In 2023    
Other Disclosures    
Vesting percentage 225.00%  
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 200% | Minimum | Awards Granted Before 2023    
Other Disclosures    
Vesting percentage 0.00%  
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 200% | Maximum | Awards Granted Before 2023    
Other Disclosures    
Vesting percentage 200.00%  
Performance Based Restricted Stock Unit | Performance Based Vesting, Three Year Period, 0 to 225%    
Number of RSUs    
Granted (in shares)   301,562
Other Disclosures    
Awards granted in the period (in shares)   301,562
Performance Based Restricted Stock Unit | Performance Based Vesting, Three Year Period, 0 to 225% | Minimum    
Other Disclosures    
Vesting percentage   0.00%
Performance Based Restricted Stock Unit | Performance Based Vesting, Three Year Period, 0 to 225% | Maximum    
Other Disclosures    
Vesting percentage   225.00%
Performance Based Restricted Stock Unit | Performance Based Vesting And settled, Three Year Period, 0 to 150%    
Number of RSUs    
Granted (in shares) 5,605 7,720
Other Disclosures    
Awards granted in the period (in shares) 5,605 7,720
Performance Based Restricted Stock Unit | Performance Based Vesting And settled, Three Year Period, 0 to 150% | Minimum    
Other Disclosures    
Vesting percentage 0.00% 0.00%
Performance Based Restricted Stock Unit | Performance Based Vesting And settled, Three Year Period, 0 to 150% | Maximum    
Other Disclosures    
Vesting percentage 150.00% 150.00%
Time Based Restricted Stock Units | Vest Ratably Over Three Year Period from Grant Date    
Number of RSUs    
Granted (in shares) 263,714 301,562
Other Disclosures    
Awards granted in the period (in shares) 263,714 301,562
Vesting period 3 years 3 years
Time Based Restricted Stock Units | Vest On The First Anniversary Of The Grant Date | Non-Employee Directors    
Number of RSUs    
Granted (in shares) 11,002  
Other Disclosures    
Awards granted in the period (in shares) 11,002  
Time Based Restricted Stock Units | Vest on Fifth Anniversary    
Number of RSUs    
Granted (in shares)   42,626
Other Disclosures    
Awards granted in the period (in shares)   42,626
Time Based Restricted Stock Units | Performance Based Vesting Immediately | Non-Employee Directors    
Number of RSUs    
Granted (in shares)   37,740
Other Disclosures    
Awards granted in the period (in shares)   37,740
Time Based Restricted Stock Units | Vest on December 31, 2023    
Number of RSUs    
Granted (in shares)   33,586
Other Disclosures    
Awards granted in the period (in shares)   33,586
Time Based Restricted Stock Units | Vested On Third Anniversary Of The Grant Date    
Number of RSUs    
Granted (in shares)   7,720
Other Disclosures    
Awards granted in the period (in shares)   7,720
v3.24.2
EMPLOYEE BENEFIT PLANS - Schedule of Significant Inputs used in Valuation of RSUs (Details) - Restricted Stock Units
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Expected volatility, minimum 34.90% 53.60%
Expected volatility, maximum 52.10% 65.60%
Risk-free interest rate, minimum 4.40% 4.20%
Risk-free interest rate, maximum 4.90% 4.80%
v3.24.2
EMPLOYEE BENEFIT PLANS - USPI Management Equity Plan (Details) - $ / shares
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Restricted Stock Units    
Number of RSUs    
Unvested at the beginning of the period (in shares) 1,421,063  
Vested (in shares) (660,080)  
Forfeited (in shares) (1,961)  
Unvested at the end of the period (in shares) 1,536,152  
Wtd. Avg. Grant Date Fair  Value Per RSU    
Unvested at the beginning of the period (in dollars per share) $ 66.46  
Vested (in dollars per share) 65.29  
Forfeited (in dollars per share) 62.64  
Unvested at the end of the period (in dollars per share) $ 81.35  
Awards granted in the period (in shares) 572,055  
USPI Management Equity Plan | Restricted Stock Units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Contractual right to receive shares of common stock for a stock based award (in shares) 1  
Number of RSUs    
Unvested at the beginning of the period (in shares) 607,984  
Vested (in shares) (605,987)  
Forfeited (in shares) (1,997)  
Unvested at the end of the period (in shares) 0  
Wtd. Avg. Grant Date Fair  Value Per RSU    
Unvested at the beginning of the period (in dollars per share) $ 34.13  
Vested (in dollars per share) 34.13  
Forfeited (in dollars per share) 34.13  
Unvested at the end of the period (in dollars per share) $ 34.13  
Awards granted in the period (in shares) 0 0
USPI Management Equity Plan | Nonvoting Common Stock    
Wtd. Avg. Grant Date Fair  Value Per RSU    
Outstanding vested shares eligible to be sold (in shares) 453,000  
v3.24.2
EQUITY - Changes in Shareholders' Equity (Details) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Changes in Shareholders' Equity            
Balances, beginning of period $ 4,943 $ 3,117 $ 2,580 $ 2,459 $ 3,117 $ 2,459
Net income 356 2,233 205 217    
Distributions paid to noncontrolling interests (70) (78) (66) (61)    
Other comprehensive income 2 2 1 2 4 3
Purchases (sales) of businesses and noncontrolling interests, net 76 (28) 22 19    
Repurchases of common stock (273) (280) (40) (50)    
Stock-based compensation expense and issuance of common stock 22 (23) 22 (6)    
Balances, end of period $ 5,056 $ 4,943 $ 2,724 $ 2,580 $ 5,056 $ 2,724
Common Stock            
Changes in Shareholders' Equity            
Balances, beginning of period (in shares) 97,673 99,950 101,912 102,247 99,950 102,247
Balances, beginning of period $ 8 $ 8 $ 8 $ 8 $ 8 $ 8
Repurchases of common stock (in shares) (1,990) (2,811) (580) (906)    
Stock-based compensation expense and issuance of common stock (in shares) 136 534 177 571    
Balances, end of period (in shares) 95,819 97,673 101,509 101,912 95,819 101,509
Balances, end of period $ 8 $ 8 $ 8 $ 8 $ 8 $ 8
Additional Paid-In Capital            
Changes in Shareholders' Equity            
Balances, beginning of period 4,806 4,834 4,774 4,778 4,834 4,778
Purchases (sales) of businesses and noncontrolling interests, net 12 (5) 4 2    
Stock-based compensation expense and issuance of common stock 22 (23) 22 (6)    
Balances, end of period 4,840 4,806 4,800 4,774 4,840 4,800
Accumulated Other Comprehensive Loss            
Changes in Shareholders' Equity            
Balances, beginning of period (179) (181) (179) (181) (181) (181)
Other comprehensive income 2 2 1 2    
Balances, end of period (177) (179) (178) (179) (177) (178)
Retained Earnings (Accumulated Deficit)            
Changes in Shareholders' Equity            
Balances, beginning of period 1,959 (192) (660) (803) (192) (803)
Net income 259 2,151 123 143    
Balances, end of period 2,218 1,959 (537) (660) 2,218 (537)
Treasury Stock            
Changes in Shareholders' Equity            
Balances, beginning of period (3,141) (2,861) (2,710) (2,660) (2,861) (2,660)
Repurchases of common stock (273) (280) (40) (50)    
Balances, end of period (3,414) (3,141) (2,750) (2,710) (3,414) (2,750)
Noncontrolling Interests            
Changes in Shareholders' Equity            
Balances, beginning of period 1,490 1,509 1,347 1,317 1,509 1,317
Net income 97 82 82 74    
Distributions paid to noncontrolling interests (70) (78) (66) (61)    
Purchases (sales) of businesses and noncontrolling interests, net 64 (23) 18 17    
Balances, end of period $ 1,581 $ 1,490 $ 1,381 $ 1,347 $ 1,581 $ 1,381
v3.24.2
EQUITY - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Oct. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]                  
Stockholders equity balance $ 5,056 $ 4,943 $ 2,724 $ 2,580 $ 5,056 $ 2,724 $ 3,117 $ 2,459  
Net income 356 2,233 205 217          
Amount of common stock authorized to be repurchased                 $ 1,000
Noncontrolling Interests                  
Accumulated Other Comprehensive Income (Loss) [Line Items]                  
Stockholders equity balance 1,581 1,490 1,381 1,347 1,581 1,381 1,509 $ 1,317  
Net income 97 $ 82 $ 82 $ 74          
Noncontrolling Interests | Hospital Operations                  
Accumulated Other Comprehensive Income (Loss) [Line Items]                  
Stockholders equity balance 201       201   185    
Net income         21 14      
Noncontrolling Interests | Ambulatory Care                  
Accumulated Other Comprehensive Income (Loss) [Line Items]                  
Stockholders equity balance $ 1,380       1,380   $ 1,324    
Net income         $ 158 $ 142      
v3.24.2
EQUITY - Share Repurchase Programs (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 1 Months Ended 6 Months Ended
Jun. 30, 2024
May 31, 2024
Apr. 30, 2024
Mar. 31, 2024
Feb. 29, 2024
Jan. 31, 2024
Jun. 30, 2023
May 31, 2023
Apr. 30, 2023
Mar. 31, 2023
Feb. 28, 2023
Jan. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Equity, Class of Treasury Stock [Line Items]                            
Total Number of Shares Purchased (in shares) 1,990 0 0 2,811 0 0 0 580 0 906 0 0 4,801 1,486
Average Price Paid per Share (in dollars per shares) $ 135.85 $ 0 $ 0 $ 98.86 $ 0 $ 0 $ 0 $ 69.17 $ 0 $ 55.03 $ 0 $ 0 $ 114.19 $ 60.55
Maximum Dollar Value of Shares That May Yet be Purchased Under the Program $ 2 $ 272 $ 272 $ 272 $ 550 $ 550 $ 660 $ 660 $ 700 $ 700 $ 750 $ 750 $ 2 $ 660
Publicly Announced Share Repurchase Program                            
Equity, Class of Treasury Stock [Line Items]                            
Total Number of Shares Purchased (in shares) 1,990 0 0 2,811 0 0 0 580 0 906 0 0 4,801 1,486
v3.24.2
NET OPERATING REVENUES - Net Operating Revenue By Source (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Net operating revenues  $ 5,103 $ 5,082 $ 10,471 $ 10,103
Ambulatory Care        
Disaggregation of Revenue [Line Items]        
Net operating revenues  1,141 942 2,136 1,847
Operating Segments        
Disaggregation of Revenue [Line Items]        
Net operating revenues  5,103 5,082 10,471 10,103
Operating Segments | Hospital Operations        
Disaggregation of Revenue [Line Items]        
Net operating revenues  3,962 4,140 8,335 8,256
Operating Segments | Ambulatory Care        
Disaggregation of Revenue [Line Items]        
Net operating revenues  1,141 942 2,136 1,847
Continuing Operations        
Disaggregation of Revenue [Line Items]        
Net operating revenues  5,103 5,082 10,471 10,103
Continuing Operations | Operating Segments | Hospital Operations        
Disaggregation of Revenue [Line Items]        
Net operating revenues  3,962 4,140 8,335 8,256
Continuing Operations | Operating Segments | Hospital Operations | Other revenues        
Disaggregation of Revenue [Line Items]        
Net operating revenues  543 527 1,066 1,076
Continuing Operations | Operating Segments | Ambulatory Care        
Disaggregation of Revenue [Line Items]        
Net operating revenues  1,141 942 2,136 1,847
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Medicare        
Disaggregation of Revenue [Line Items]        
Net operating revenues  518 599 1,128 1,212
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Medicaid        
Disaggregation of Revenue [Line Items]        
Net operating revenues  370 264 781 544
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Managed care        
Disaggregation of Revenue [Line Items]        
Net operating revenues  2,383 2,565 5,039 5,068
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Uninsured        
Disaggregation of Revenue [Line Items]        
Net operating revenues  11 29 30 60
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Indemnity and other        
Disaggregation of Revenue [Line Items]        
Net operating revenues  137 156 291 296
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Total        
Disaggregation of Revenue [Line Items]        
Net operating revenues  $ 3,419 $ 3,613 $ 7,269 $ 7,180
v3.24.2
NET OPERATING REVENUES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Net operating revenues  $ 5,103 $ 5,082 $ 10,471 $ 10,103
Restatement Adjustment        
Disaggregation of Revenue [Line Items]        
Net operating revenues      $ 2 $ 10
v3.24.2
NET OPERATING REVENUES - Net Operating Revenue Composition, Ambulatory and Conifer Segments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]        
Net operating revenues  $ 5,103 $ 5,082 $ 10,471 $ 10,103
Ambulatory Care        
Disaggregation of Revenue [Line Items]        
Net operating revenues  1,141 942 2,136 1,847
Ambulatory Care | Net patient service revenues        
Disaggregation of Revenue [Line Items]        
Net operating revenues  1,100 905 2,054 1,773
Ambulatory Care | Management fees        
Disaggregation of Revenue [Line Items]        
Net operating revenues  34 30 67 60
Ambulatory Care | Revenue from other sources        
Disaggregation of Revenue [Line Items]        
Net operating revenues  $ 7 $ 7 $ 15 $ 14
v3.24.2
NET OPERATING REVENUES - Performance Obligations (Details)
$ in Millions
Jun. 30, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 5,748
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 347
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 690
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 689
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 688
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 687
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations $ 2,647
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
v3.24.2
INSURANCE - Insurance (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 24 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2023
Insurance coverage              
Insurance recoveries       $ 31      
Net operating revenues  $ 5,103 $ 5,082 $ 10,471 10,103      
Scenario, Forecast              
Insurance coverage              
Insurance, per occurrence limit         $ 850    
Insurance Recoveries              
Insurance coverage              
Net operating revenues      1 27      
Other Operating Expense, Net              
Insurance coverage              
Malpractice expense     183 $ 190      
Professional and General Liability Reserves              
Insurance coverage              
Self insurance reserve $ 1,127   $ 1,127       $ 1,046
Floods | Scenario, Forecast              
Insurance coverage              
Insurance, annual limit         100    
Earthquake | California | Scenario, Forecast              
Insurance coverage              
Insurance, annual limit         200    
Earthquake | Other Geographic Areas | Scenario, Forecast              
Insurance coverage              
Insurance, annual limit         200    
Windstorms | Scenario, Forecast              
Insurance coverage              
Insurance, annual limit         $ 200    
Fire and other perils              
Insurance coverage              
Insurance, annual limit           $ 850  
California Earthquakes And Named Windstorms              
Insurance coverage              
Insurance deductible as a percent           5.00%  
New Madrid Fault Earthquakes              
Insurance coverage              
Insurance deductible as a percent           2.00%  
Insurance, maximum deductible per incident           $ 25  
Other Catastrophic Events              
Insurance coverage              
Insurance, deductible           $ 5  
v3.24.2
CLAIMS AND LAWSUITS - Reconciliations (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Loss Contingency Accrual [Roll Forward]        
Litigation and investigation costs $ 5 $ 10 $ 9 $ 14
Claims, Lawsuits, and Regulatory Proceedings        
Loss Contingency Accrual [Roll Forward]        
Litigation reserve, balance at beginning of period     40 51
Litigation and investigation costs     9 14
Cash Payments     (20) (46)
Litigation reserve, balance at end of period $ 29 $ 19 $ 29 $ 19
v3.24.2
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Changes in Redeemable Noncontrolling Interests (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]            
Balances at beginning of period    $ 2,391     $ 2,391  
Net income         222 $ 167
Distributions paid to noncontrolling interests $ (70) (78) $ (66) $ (61)    
Balances at end of period  2,813       2,813  
Redeemable Noncontrolling Interests            
Increase (Decrease) in Temporary Equity [Roll Forward]            
Balances at beginning of period    $ 2,391   $ 2,149 2,391 2,149
Net income         222 167
Distributions paid to noncontrolling interests         (175) (143)
Purchases and sales of businesses and noncontrolling interests, net         375 104
Balances at end of period  $ 2,813   $ 2,277   $ 2,813 $ 2,277
v3.24.2
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Segment Details (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Redeemable Noncontrolling Interest [Line Items]      
Redeemable noncontrolling interests $ 2,813   $ 2,391
Net income available to redeemable noncontrolling interests 222 $ 167  
Hospital Operations      
Redeemable Noncontrolling Interest [Line Items]      
Redeemable noncontrolling interests 910   860
Net income available to redeemable noncontrolling interests 53 44  
Ambulatory Care      
Redeemable Noncontrolling Interest [Line Items]      
Redeemable noncontrolling interests 1,903   $ 1,531
Net income available to redeemable noncontrolling interests $ 169 $ 123  
v3.24.2
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2024
Dec. 31, 2023
Redeemable Noncontrolling Interest [Line Items]      
Other current liabilities   $ 2,175 $ 1,756
Other long-term liabilities   1,711 1,709
United Surgical Partners International      
Redeemable Noncontrolling Interest [Line Items]      
Other current liabilities   133 135
Other long-term liabilities     $ 63
Baylor University Medical Center | United Surgical Partners International      
Redeemable Noncontrolling Interest [Line Items]      
Share purchase agreement amount of payment $ 406    
Payment on execution of share purchase agreement   $ 11  
Put Option | Baylor University Medical Center | United Surgical Partners International      
Redeemable Noncontrolling Interest [Line Items]      
Ownership percentage 5.00%    
v3.24.2
INCOME TAXES - Federal Tax Reconciliation (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Reconciliation between reported income tax expense (benefit) and income taxes calculated by the statutory federal income tax rate        
Tax expense at statutory federal rate of 21% $ 123 $ 78 $ 771 $ 158
State income taxes, net of federal income tax benefit 22 12 225 28
Tax benefit attributable to noncontrolling interests (46) (35) (84) (67)
Nondeductible goodwill 2 0 128 0
Stock-based compensation tax benefit (1) (2) (6) (4)
Changes in valuation allowance 7 23 (178) 42
Other items 3 4 4 7
Income tax expense $ 110 $ 80 $ 860 $ 164
v3.24.2
INCOME TAXES - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Effective Income Tax Rate Reconciliation [Line Items]        
Pre-tax income (loss) $ 587 $ 373 $ 3,671 $ 753
Change in valuation allowance for interest expense carryforwards 7 $ 23 (178) $ 42
Estimated liabilities for uncertain tax positions     16  
Unrecognized tax benefits 77   77  
Unrecognized tax benefits which, if recognized, would impact effective tax rate 75   75  
Interest and penalties related to accrued liabilities for uncertain tax positions, recognized     4  
Interest and penalties related to accrued liabilities for uncertain tax positions, recognized 7   7  
Unrecognized federal and state tax benefits and reserves for interest and penalties, which may decrease in the next 12 months $ 4   4  
Interest Expense Carryforward Utilization        
Effective Income Tax Rate Reconciliation [Line Items]        
Increase (decrease) in deferred tax asset valuation     (194)  
State Interest Expense Carryforward        
Effective Income Tax Rate Reconciliation [Line Items]        
Increase (decrease) in deferred tax asset valuation     $ 16  
v3.24.2
EARNINGS PER COMMON SHARE (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net Income Available to Common Shareholders (Numerator)        
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 259 $ 123 $ 2,410 $ 266
Effect of dilutive instruments 1 (3) 1 (6)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 260 $ 120 $ 2,411 $ 260
Wtd. Avg. Shares (Denominator)        
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share (in shares) 97,267 101,766 98,424 102,028
Effect of dilutive instruments (in shares) 1,177 3,012 1,133 3,326
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share (in shares) 98,444 104,778 99,557 105,354
Per-Share Amount        
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share (in dollars per share) $ 2.66 $ 1.21 $ 24.49 $ 2.61
Effect of dilutive instruments (in dollars per share) (0.02) (0.06) (0.27) (0.14)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share (in dollars per share) $ 2.64 $ 1.15 $ 24.22 $ 2.47
v3.24.2
FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Nonrecurring    
Fair value of assets and liabilities measured on recurring basis    
Long-lived assets held for sale $ 21  
Long-lived assets held for sale   $ 775
Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair value of assets and liabilities measured on recurring basis    
Long-lived assets held for sale 0  
Long-lived assets held for sale   0
Nonrecurring | Significant Other Observable Inputs (Level 2)    
Fair value of assets and liabilities measured on recurring basis    
Long-lived assets held for sale 21  
Long-lived assets held for sale   775
Nonrecurring | Significant Unobservable Inputs (Level 3)    
Fair value of assets and liabilities measured on recurring basis    
Long-lived assets held for sale $ 0  
Long-lived assets held for sale   $ 0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair value of assets and liabilities measured on recurring basis    
Estimated fair value of debt instrument as percentage of carrying value (percent) 99.50% 96.90%
v3.24.2
ACQUISITIONS - Preliminary Purchase Price Allocations (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Final purchase price allocations      
Goodwill $ 10,799   $ 10,307
Cash paid, net of cash acquired (510) $ (96)  
Gains on consolidations 31 13  
Series of Individual Business Acquisitions      
Final purchase price allocations      
Current assets 67 13  
Property and equipment 42 8  
Other intangible assets 132 5  
Goodwill 820 257  
Long-term operating lease assets 99 8  
Other long-term assets 1 0  
Previously held investments in unconsolidated affiliates (23) (37)  
Current liabilities (67) (8)  
Long-term operating lease liabilities (88) (7)  
Other long-term liabilities (12) (4)  
Redeemable noncontrolling interests in equity of consolidated subsidiaries (381) (95)  
Noncontrolling interests (59) (31)  
Cash paid, net of cash acquired $ (500) $ (96)  
v3.24.2
ACQUISITIONS - Narrative (Details)
$ in Millions
 1 Months Ended 6 Months Ended
Dec. 31, 2023
USD ($)
healthcare_facility
Jun. 30, 2024
USD ($)
healthcare_facility
Jun. 30, 2023
USD ($)
Business Acquisition [Line Items]      
Goodwill $ 10,307 $ 10,799  
Transaction costs related to prospective and closed acquisitions   22 $ 4
Purchase price allocation adjustments   26  
SurgeCenter Development      
Business Acquisition [Line Items]      
Goodwill   $ 820 $ 257
NextCare Arizona I JV, LLC      
Business Acquisition [Line Items]      
Business acquisition, percentage of voting interests acquired 55.00%    
Number of operational urgent care centers acquired | healthcare_facility 41 56  
Decrease in escrow   $ 10  
NextCare Arizona II JV, LLC      
Business Acquisition [Line Items]      
Number of operational urgent care centers acquired, noncontrolling interest | healthcare_facility 15    
v3.24.2
SEGMENT INFORMATION - Narrative (Details)
 6 Months Ended 12 Months Ended
Jun. 30, 2024
surgery_center
hospital
state
healthcare_facility
Dec. 31, 2023
segment
Dec. 31, 2022
segment
Segment Reporting Information [Line Items]      
Number of reportable segments | segment   2 3
Hospital Operations      
Segment Reporting Information [Line Items]      
Number of hospitals operated by subsidiaries 52    
Number of states where operations occur | state 9    
Number of outpatient facilities operated | healthcare_facility 148    
Ambulatory Care | United Surgical Partners International      
Segment Reporting Information [Line Items]      
Number of states where operations occur | state 38    
Number of ambulatory surgery centers 520    
Number of ambulatory surgery centers consolidated | surgery_center 377    
Number of surgical hospitals operated by subsidiaries 24    
Number of surgical hospitals consolidated 7    
v3.24.2
SEGMENT INFORMATION - Reconciling Items (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]          
Assets $ 29,265   $ 29,265   $ 28,312
Net operating revenues  5,103 $ 5,082 10,471 $ 10,103  
Equity in earnings of unconsolidated affiliates: 61 54 120 104  
Adjusted EBITDA:          
Adjusted EBITDA 945 843 1,969 1,675  
Depreciation and amortization (208) (213) (416) (430)  
Impairment and restructuring charges, and acquisition-related costs (29) (16) (56) (37)  
Litigation and investigation costs (5) (10) (9) (14)  
Interest expense (203) (226) (421) (447)  
Loss from early extinguishment of debt 0 (11) (8) (11)  
Other non-operating income, net 29 6 54 4  
Net gains on sales, consolidation and deconsolidation of facilities 58 0 2,558 13  
Income before income taxes 587 373 3,671 753  
Operating Segments          
Segment Reporting Information [Line Items]          
Capital expenditures: 145 132 385 367  
Net operating revenues  5,103 5,082 10,471 10,103  
Equity in earnings of unconsolidated affiliates: 61 54 120 104  
Adjusted EBITDA:          
Adjusted EBITDA 945 843 1,969 1,675  
Depreciation and amortization (208) (213) (416) (430)  
Hospital Operations          
Segment Reporting Information [Line Items]          
Assets 17,207   17,207   17,268
Hospital Operations | Operating Segments          
Segment Reporting Information [Line Items]          
Capital expenditures: 126 112 348 329  
Net operating revenues  3,962 4,140 8,335 8,256  
Equity in earnings of unconsolidated affiliates: 3 2 6 5  
Adjusted EBITDA:          
Adjusted EBITDA 498 473 1,128 965  
Depreciation and amortization (175) (186) (352) (376)  
Ambulatory Care          
Segment Reporting Information [Line Items]          
Assets 12,058   12,058   $ 11,044
Net operating revenues  1,141 942 2,136 1,847  
Ambulatory Care | Operating Segments          
Segment Reporting Information [Line Items]          
Capital expenditures: 19 20 37 38  
Net operating revenues  1,141 942 2,136 1,847  
Equity in earnings of unconsolidated affiliates: 58 52 114 99  
Adjusted EBITDA:          
Adjusted EBITDA 447 370 841 710  
Depreciation and amortization $ (33) $ (27) $ (64) $ (54)