Tenet Healthcare (THC) 10-Q 30 Apr 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
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)		106,790,357
Entity Central Index Key	0000070318
Current Fiscal Year End Date	--12-31
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common stock, | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Common stock,
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

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 2,141	$ 2,446
Accounts receivable	2,745	2,690
Inventories of supplies, at cost	368	368
Assets held for sale	139	140
Other current assets	1,306	1,503
Total current assets	6,699	7,147
Investments and other assets	2,577	2,534
Deferred income taxes	297	325
Property and equipment, at cost, less accumulated depreciation and amortization ($6,172 at March 31, 2021 and $6,043 at December 31, 2020)	6,592	6,692
Goodwill	8,799	8,808
Other intangible assets, at cost, less accumulated amortization ($1,331 at March 31, 2021 and $1,284 at December 31, 2020)	1,590	1,600
Total assets	26,554	27,106
Current liabilities:
Current portion of long-term debt	137	145
Accounts payable	1,103	1,207
Accrued compensation and benefits	907	942
Professional and general liability reserves	263	243
Accrued interest payable	290	248
Liabilities held for sale	68	70
Contract liabilities	917	659
Other current liabilities	1,245	1,333
Total current liabilities	4,930	4,847
Long-term debt, net of current portion	15,098	15,574
Professional and general liability reserves	763	735
Defined benefit plan obligations	478	497
Deferred income taxes	29	29
Contract liabilities – long-term	655	918
Other long-term liabilities	1,593	1,617
Total liabilities	23,546	24,217
Commitments and contingencies
Redeemable noncontrolling interests in equity of consolidated subsidiaries	1,992	1,952
Shareholders’ equity:
Common stock, $0.05 par value; authorized 262,500,000 shares; 155,021,894 shares issued at March 31, 2021 and 154,407,524 shares issued at December 31, 2020	8	7
Additional paid-in capital	4,841	4,844
Accumulated other comprehensive loss	(282)	(281)
Accumulated deficit	(2,031)	(2,128)
Common stock in treasury, at cost, 48,334,419 shares at March 31, 2021 and 48,337,947 shares at December 31, 2020	(2,413)	(2,414)
Total shareholders’ equity	123	28
Noncontrolling interests	893	909
Total equity	1,016	937
Total liabilities and equity	$ 26,554	$ 27,106

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 6,172	$ 6,043
Other intangible assets, accumulated amortization	$ 1,331	$ 1,284
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, authorized shares (in shares)	262,500,000	262,500,000
Common stock, shares issued (in shares)	155,021,894	154,407,524
Common stock in treasury (in shares)	48,334,419	48,337,947

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net operating revenues	$ 4,781	$ 4,520
Grant income	31	0
Equity in earnings of unconsolidated affiliates	42	28
Operating expenses:
Salaries, wages and benefits	2,201	2,187
Supplies	804	763
Other operating expenses, net	1,072	1,013
Depreciation and amortization	224	203
Impairment and restructuring charges, and acquisition-related costs	20	55
Litigation and investigation costs	13	2
Net gains on sales, consolidation and deconsolidation of facilities	0	(2)
Operating income	520	327
Interest expense	(240)	(243)
Other non-operating income, net	10	1
Loss from early extinguishment of debt	(23)	0
Income from continuing operations, before income taxes	267	85
Income tax benefit (expense)	(45)	75
Income from continuing operations, before discontinued operations	222	160
Discontinued operations:
Loss from operations	0	(1)
Loss from discontinued operations	0	(1)
Net income	222	159
Less: Net income available to noncontrolling interests	125	66
Net income available to Tenet Healthcare Corporation common shareholders	97	93
Amounts available (attributable) to Tenet Healthcare Corporation common shareholders
Income from continuing operations, net of tax	97	94
Loss from discontinued operations, net of tax	0	(1)
Net income available to Tenet Healthcare Corporation common shareholders	$ 97	$ 93
Basic
Continuing operations (in dollars per share)	$ 0.91	$ 0.90
Discontinued operations (in dollars per share)	0	(0.01)
Total earnings (loss) per share, basic (in dollars per share)	0.91	0.89
Diluted
Continuing operations (in dollars per share)	0.90	0.89
Discontinued operations (in dollars per share)	0	(0.01)
Total earnings (loss) per share, diluted (in dollars per share)	$ 0.90	$ 0.88
Weighted average shares and dilutive securities outstanding (in thousands):
Basic (in shares)	106,309	104,353
Diluted (in shares)	108,065	105,733

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 222	$ 159
Other comprehensive income:
Amortization of net actuarial loss included in other non-operating income, net	3	2
Unrealized gains on debt securities held as available-for-sale	0	1
Other comprehensive income before income taxes	3	3
Income tax expense related to items of other comprehensive income	(4)	(2)
Total other comprehensive income (loss), net of tax	(1)	1
Comprehensive net income	221	160
Less: Comprehensive income available to noncontrolling interests	125	66
Comprehensive income available to Tenet Healthcare Corporation common shareholders	$ 96	$ 94

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Cash Flows [Abstract]
Net income	$ 222	$ 159
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	224	203
Deferred income tax expense (benefit)	24	(79)
Stock-based compensation expense	14	13
Impairment and restructuring charges, and acquisition-related costs	20	55
Litigation and investigation costs	13	2
Net gains on sales, consolidation and deconsolidation of facilities	0	(2)
Loss from early extinguishment of debt	23	0
Equity in earnings of unconsolidated affiliates, net of distributions received	28	(11)
Amortization of debt discount and debt issuance costs	9	10
Pre-tax loss from discontinued operations	0	1
Other items, net	(7)	2
Changes in cash from operating assets and liabilities:
Accounts receivable	(53)	14
Inventories and other current assets	130	23
Income taxes	19	2
Accounts payable, accrued expenses and other current liabilities	(87)	(144)
Other long-term liabilities	6	(51)
Payments for restructuring charges, acquisition-related costs, and litigation costs and settlements	(51)	(68)
Net cash provided by operating activities	534	129
Cash flows from investing activities:
Purchases of property and equipment	(121)	(182)
Purchases of businesses or joint venture interests, net of cash acquired	(25)	(55)
Proceeds from sales of facilities and other assets	13	11
Proceeds from sales of marketable securities, long-term investments and other assets	6	10
Purchases of marketable securities and equity investments	(11)	(4)
Other long-term assets	(8)	(2)
Other items, net	1	18
Net cash used in investing activities	(145)	(204)
Cash flows from financing activities:
Repayments of borrowings under credit facility	0	(240)
Proceeds from borrowings under credit facility	0	740
Repayments of other borrowings	(541)	(48)
Proceeds from other borrowings	4	7
Debt issuance costs	0	(1)
Distributions paid to noncontrolling interests	(119)	(76)
Proceeds from sale of noncontrolling interests	6	2
Purchases of noncontrolling interests	(2)	0
Proceeds from exercise of stock options and employee stock purchase plan	7	2
Medicare advances and grants received by unconsolidated affiliates	19	0
Other items, net	(68)	40
Net cash provided by (used in) financing activities	(694)	426
Net increase (decrease) in cash and cash equivalents	(305)	351
Cash and cash equivalents at beginning of period	2,446	262
Cash and cash equivalents at end of period	2,141	613
Supplemental disclosures:
Interest paid, net of capitalized interest	(190)	(172)
Income tax payments, net	$ (2)	$ (3)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2021
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,” “our” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Through an expansive care network that includes USPI Holding Company, Inc. (“USPI”), at March 31, 2021 we operated 65 hospitals and over 540 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, urgent care and imaging centers, and other care sites and clinics. We also operate Conifer Health Solutions, LLC through our Conifer Holdings, Inc. (“Conifer”) subsidiary, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients. This quarterly report supplements our Annual Report on Form 10-K for the year ended December 31, 2020 (“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 financial and statistical data included in these notes to our Condensed Consolidated Financial Statements relate to our continuing operations, with dollar amounts expressed in millions (except per-share amounts). Although the Condensed Consolidated Financial Statements and related notes within this document are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. In preparing our financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), we are required 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. 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 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-month period ended March 31, 2021 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 COVID-19 pandemic on our operations, business, financial condition and cash flows; 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; 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 natural disasters and other weather-related occurrences; 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. Factors that affect service mix, revenue mix, patient volumes and, thereby, the results of operations at our hospitals and related healthcare facilities include, but are not limited to: changes in federal, state and local healthcare and business regulations, including mandated closures and other operating restrictions; the business environment, economic conditions and demographics of local communities in which we operate; the number of uninsured and underinsured individuals in local communities treated at our hospitals; 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; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; hospital 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. Certain prior-year amounts have been reclassified to conform to the current year presentation. In the accompanying Condensed Consolidated Balance Sheets, income tax receivable has been reclassified to other current assets, as it is no longer significant enough to present separately. COVID-19 Pandemic During 2020, federal, state and local authorities undertook several actions designed to assist healthcare providers in providing care to COVID-19 and other patients and to mitigate the adverse economic impact of the COVID-19 pandemic. Legislative actions taken by the federal government during 2020 included the Coronavirus Aid, Relief, and Economic Security Act, the Paycheck Protection Program and Health Care Enhancement Act, the Continuing Appropriations Act, 2021 and Other Extensions Act, and the Consolidated Appropriations Act, 2021 (collectively, the “COVID Acts”). Through the COVID Acts, the federal government authorized funding to be distributed through the Public Health and Social Services Emergency Fund (“Provider Relief Fund” or “PRF”). Additionally, the COVID Acts revised the Medicare accelerated payment program in an attempt to disburse payments to hospitals and other care providers more quickly and permitted employers to defer payment of the 6.2% employer Social Security tax beginning March 27, 2020 through December 31, 2020. Our participation in these programs and related accounting policies are summarized below. Grant Income . During the three months ended March 31, 2021, we received cash payments of $59 million from the Provider Relief Fund and state and local grant programs, including $28 million received by our unconsolidated affiliates. We recognize grant payments as income when there is reasonable assurance that we have complied with the conditions associated with the grant. Our estimates could change materially in the future based on our operating performance or COVID-19 activities, as well as the government’s grant compliance guidance. Grant income recognized by our Hospital Operations and other (“Hospital Operations”) and Ambulatory Care segments is presented in grant income and grant income recognized through our unconsolidated affiliates is presented in equity in earnings of unconsolida ted affiliates in our statement of operations. During the three months ended March 31, 2021, we recognized grant income of $24 million in our Hospital Operations segment and $7 million in our Ambulatory Care segment. We recognized an additional $6 million of Provider Relief Fund income during this period, which was classified as equity in earnings of unconsolidated affiliates in the accompanying Condensed Consolidated Statement of Operations for the three months ended March 31, 2021. Disbursements from the Provider Relief Fund and other state and local programs began in the second quarter of 2020; therefore, no grant payments were received or grant income recognized during the three months ended March 31, 2020. At both March 31, 2021 and December 31, 2020, we had deferred grant payments remaining of $18 million, which amounts were recorded in other current liabilities in the accompanying Condensed Consolidated Balance Sheets for those periods. Medicare Accelerated Payment Program . In certain circumstances, when a hospital is experiencing financial difficulty due to delays in receiving payment for the Medicare services it provided, it may be eligible for an accelerated or advance payment pursuant to the Medicare accelerated payment program. The COVID Acts revised the Medicare accelerated payment program in an attempt to disburse payments to healthcare providers more quickly. Recipients may retain the accelerated payments for one year from the date of receipt before recoupment commences, which will be effectuated by a 25% offset of claims payments for 11 months, followed by a 50% offset for the succeeding six months. At the end of the 29-month period, interest on the unpaid balance will be assessed at 4.00% per annum. The initial 11-month recoupment period began in April 2021. Our Hospital Operations and Ambulatory Care segments both received advance payments from the Medicare accelerated payment program during 2020. No additional advances were received in the three months ended March 31, 2021. Advances totaling $857 million and $603 million were included in contract liabilities and $639 million and $902 million were included in contract liabilities – long term in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020, respectively. Deferral of Employer Payroll Tax Match Payments. Social Security taxes deferred under the COVID Acts are required to be paid in equal amounts over two years, with payments due in December 2021 and December 2022. We had deferred Social Security tax payments totaling $130 million included in accrued compensation and benefits and $130 million included in other long‑term liabilities in the accompanying Condensed Consolidated Balance Sheets at both March 31, 2021 and December 31, 2020. 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 $2.141 billion and $2.446 billion at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 and December 31, 2020, our book overdrafts were $171 million and $154 million, respectively, which were classified as accounts payable. At March 31, 2021 and December 31, 2020, $172 million and $166 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our captive insurance subsidiaries. Also at March 31, 2021 and December 31, 2020, we had $42 million and $93 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $36 million and $85 million, respectively, were included in accounts payable. During the three month s ended March 31, 2021 and 2020, we recorded right-of-use assets related to non‑cancellable finance leases of $11 million a nd $15 million , respectively, and related to non-cancellable operating leases of $46 million and $54 million , respectively. Other Intangible Assets The following tables provide information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020: Gross Accumulated Net Book At March 31, 2021: Capitalized software costs $ 1,836 $ (1,125) $ 711 Trade names 102 — 102 Contracts 872 (116) 756 Other 111 (90) 21 Total $ 2,921 $ (1,331) $ 1,590 Gross Accumulated Net Book At December 31, 2020: Capitalized software costs $ 1,800 $ (1,084) $ 716 Trade names 102 — 102 Contracts 872 (111) 761 Other 110 (89) 21 Total $ 2,884 $ (1,284) $ 1,600 Estimated future amortization of intangibles with finite useful lives at March 31, 2021 is as follows: Nine Months Years Ending Later Years December 31, Total 2021 2022 2023 2024 2025 Amortization of intangible assets $ 907 $ 128 $ 125 $ 112 $ 102 $ 87 $ 353 We recognized amortization expense of $47 million and $41 million in the accompanying Condensed Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020, respectively. Investments in Unconsolidated Affiliates We control 291 of the facilities within our Ambulatory Care segment and, therefore, consolidate their results. We account for many of the facilities our Ambulatory Care segment operates (108 of 399 at March 31, 2021), 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 the accompanying Condensed Consolidated Statements of Operations. In the three months ended March 31, 2021, equity in earnings of unconsolidated affiliates included $6 million from PRF grants recognized by our Ambulatory Care segment’s unconsolidated affiliates. Summarized financial information for these equity method investees is included in the following table. For investments acquired during the reported periods, amounts reflect 100% of the investee’s results beginning on the date of our acquisition of the investment. Three Months Ended 2021 2020 Net operating revenues $ 634 $ 566 Net income $ 165 $ 109 Net income available to the investees $ 102 $ 69

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	3 Months Ended
	Mar. 31, 2021
Accounts Receivable Additional Disclosures [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE The principal components of accounts receivable are shown in the table below: March 31, 2021 December 31, 2020 Continuing operations: Patient accounts receivable $ 2,544 $ 2,499 Estimated future recoveries 156 156 Net cost reports and settlements receivable and valuation allowances 43 34 2,743 2,689 Discontinued operations 2 1 Accounts receivable, net $ 2,745 $ 2,690 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 at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Assets: Other current assets $ 255 $ 378 Investments and other assets $ 277 $ 206 Liabilities: Other current liabilities $ 122 $ 110 Other long-term liabilities $ 52 $ 56 The following table shows 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 in the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Estimated costs for: Uninsured patients $ 168 $ 156 Charity care patients 20 40 Total $ 188 $ 196

CONTRACT BALANCES

CONTRACT BALANCES	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	CONTRACT BALANCES Hospital Operations Segment Amounts related to services provided to patients for which we have not billed and that do not meet the conditions of unconditional right to payment at the end of the reporting period are contract assets. For our Hospital Operations segment, our contract assets include services that we have provided to patients who are still receiving inpatient care in our facilities at the end of the reporting period. Our Hospital Operations segment’s contract assets were included in other current assets in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020. Approximately 91% 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. In certain circumstances, when a hospital is experiencing financial difficulty due to delays in receiving payment for the Medicare services it provided, it may be eligible for an accelerated or advance payment pursuant to the Medicare accelerated payment program. As discussed in Note 1, the COVID Acts revised the Medicare accelerated payment program in an attempt to disburse payments to hospitals more quickly. During the year ended December 31, 2020, our Hospital Operations segment received advance payments from the Medicare accelerated payment program following its expansion under the COVID Acts. These advance payments were recorded as contract liabilities in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020. No additional advances were received in the three months ended March 31, 2021. The opening and closing balances of contract assets and contract liabilities for our Hospital Operations segment are as follows: Contract Liability – Contract Liability – Current Long-term Contract Assets Advances from Medicare Advances from Medicare December 31, 2020 $ 208 $ 510 $ 819 March 31, 2021 180 734 595 Increase (decrease) $ (28) $ 224 $ (224) December 31, 2019 $ 170 $ — $ — March 31, 2020 151 — — Decrease $ (19) $ — $ — Ambulatory Care Segment During the year ended December 31, 2020, our Ambulatory Care segment also received advance payments from the expanded Medicare accelerated payment program. At March 31, 2021 and December 31, 2020, contract liabilities included $66 million and $51 million, respectively, and contract liabilities – long-term included $38 million and $62 million, respectively, of Medicare advance payments received by our unconsolidated affiliates for whom we provide cash management services. The opening and closing balances of contract liabilities for our Ambulatory Care segment are as follows: Contract Liability – Contract Liability – Current Long-term Advances from Medicare Advances from Medicare December 31, 2020 $ 93 $ 83 March 31, 2021 123 44 Increase (decrease) $ 30 $ (39) Our Ambulatory Care segment did not have any outstanding payments from the Medicare accelerated payment program at March 31, 2020 and December 31, 2019. Conifer Segment Conifer enters into contracts with customers to provide revenue cycle management and other services, such as value‑based care, consulting and project services. The payment terms and conditions in our customer contracts vary. In some cases, customers are invoiced in advance and (for other than fixed-price fee arrangements) a true-up to the actual fee is included on a subsequent invoice. In other cases, payment is due in arrears. In addition, some contracts contain performance incentives, penalties and other forms of variable consideration. When the timing of Conifer’s delivery of services is different from the timing of payments made by the customers, Conifer recognizes either unbilled revenue (performance precedes contractual right to invoice the customer) or deferred revenue (customer payment precedes Conifer service performance). In the following table, customers that prepay prior to obtaining control/benefit of the service are represented by deferred contract revenue until the performance obligations are satisfied. Unbilled revenue represents arrangements in which Conifer has provided services to and the customer has obtained control/benefit of services prior to the contractual invoice date. Contracts with payment in arrears are recognized as receivables in the month the service is performed. The opening and closing balances of Conifer’s receivables, contract assets and contract liabilities are as follows: Contract Liability – Contract Liability – Contract Asset – Current Long-Term Receivables Unbilled Revenue Deferred Revenue Deferred Revenue December 31, 2020 $ 56 $ 20 $ 56 $ 16 March 31, 2021 56 14 60 16 Increase (decrease) $ — $ (6) $ 4 $ — December 31, 2019 $ 26 $ 11 $ 61 $ 18 March 31, 2020 23 7 61 17 Decrease $ (3) $ (4) $ — $ (1) The difference between the opening and closing balances of Conifer’s contract assets and contract liabilities are primarily related to prepayments for those customers who are billed in advance, changes in estimates related to metric-based services, and up-front integration services that are typically not distinct and are, therefore, recognized over the performance obligation period to which they relate. Our Conifer segment’s receivables and contract assets were reported as part of other current assets in our accompanying Condensed Consolidated Balance Sheets, and its current and long-term contract liabilities were reported as part of contract liabilities and contract liabilities – long-term, respectively, in our accompanying Condensed Consolidated Balance Sheets. In the three months ended March 31, 2021 and 2020, Conifer recognized $49 million and $54 million, respectively, of revenue that was included in the opening current deferred revenue liability. This revenue consists primarily of prepayments for those customers who are billed in advance, changes in estimates related to metric-based services, and up‑front integration services that are recognized over the services period. Contract Costs During both of the three months ended March 31, 2021 and 2020, we recognized amortization expense related to deferred contract setup costs of $1 million. At March 31, 2021 and December 31, 2020, the unamortized customer contract costs were $23 million and $24 million, respe 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, 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 Conifer segment primarily consist of revenues from providing revenue cycle management services to health systems, as well as individual hospitals, physician practices, self-insured organizations, health plans and other entities. The table below shows our sources of net operating revenues less implicit price concessions from continuing operations: Three Months Ended 2021 2020 Hospital Operations: Net patient service revenues from hospitals and related outpatient facilities: Medicare $ 688 $ 705 Medicaid 259 281 Managed care 2,480 2,321 Uninsured 47 40 Indemnity and other 176 193 Total 3,650 3,540 Other revenues (1) 297 294 Hospital Operations total prior to inter-segment eliminations 3,947 3,834 Ambulatory Care 646 490 Conifer 310 332 Inter-segment eliminations (122) (136) Net operating revenues $ 4,781 $ 4,520 (1) Primarily physician practices revenues. Adjustments for prior-year cost reports and related valuation allowances, principally related to Medicare and Medicaid, increased revenues in the three months ended March 31, 2021 and 2020 by $5 million and $4 million, respectively. Estimated cost report settlements 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 final determination of amounts earned under all the above arrangements with Medicare and Medicaid. The table below shows the composition of net operating revenues for our Ambulatory Care segment: Three Months Ended 2021 2020 Net patient service revenues $ 619 $ 464 Management fees 22 21 Revenue from other sources 5 5 Net operating revenues $ 646 $ 490 The table below shows the composition of net operating revenues for our Conifer segment: Three Months Ended 2021 2020 Revenue cycle services – Tenet $ 118 $ 134 Revenue cycle services – other customers 169 176 Other services – Tenet 4 2 Other services – other customers 19 20 Net operating revenues $ 310 $ 332 Other services represent approximately 7% of Conifer’s revenue for both of the three months ended March 31, 2021 and 2020 and include value-based care services, consulting services and other client-defined projects. Performance Obligations The following table includes Conifer’s revenue 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. 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, performance incentives, penalties or other variable consideration that is considered constrained. Conifer’s 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. Nine Months Years Ending Later Years December 31, Total 2021 2022 2023 2024 2025 Performance obligations $ 6,602 $ 454 $ 603 $ 603 $ 549 $ 549 $ 3,844

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	3 Months Ended
	Mar. 31, 2021
Discontinued Operation, Additional Disclosures [Abstract]
ASSETS AND LIABILITIES HELD FOR SALE	ASSETS AND LIABILITIES HELD FOR SALE In December 2020, we entered into a definitive agreement to sell the majority of our urgent care centers operated under the MedPost and CareSpot brands by our Hospital Operations and Ambulatory Care segments. As a result, the assets and liabilities associated with these facilities were classified as held for sale at both March 31, 2021 and December 31, 2020 in the accompanying Condensed Consolidated Balance Sheets. At March 31, 2021, assets and liabilities held for sale associated with these facilities totaled $125 million and $68 million, respectively. We completed the sale of these facilities on April 30, 2021. In the three months ended September 30, 2020, a building we owned in the Philadelphia area met the criteria to be classified as held for sale. As a result, the building and related assets were classified as held for sale at both March 31, 2021 and December 31, 2020 in the accompanying Condensed Consolidated Balance Sheets. At March 31, 2021, assets held for sale related to this building totaled $14 million. We completed the sale of the building in April 2021 for $16 million. Assets and liabilities classified as held for sale at March 31, 2021 were comprised of the following: Accounts receivable $ 14 Other current assets 6 Investments and other long-term assets 41 Property and equipment 39 Goodwill 39 Current liabilities (31) Long-term liabilities (37) Net assets held for sale $ 71

IMPAIRMENT AND RESTRUCTURING CH

IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS	3 Months Ended
	Mar. 31, 2021
Restructuring Costs and Asset Impairment Charges [Abstract]
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS	IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS During the three months ended March 31, 2021, we recorded impairment and restructuring charges and acquisition‑related costs of $20 million, consisting of $16 million of restructuring charges and $4 million of acquisition-related costs. Restructuring charges consisted of $4 million of employee severance costs, $6 million related to the transition of various administrative functions to our Global Business Center (“GBC”) in the Philippines and $6 million of other restructuring costs. Acquisition‑related costs consisted of $4 million of transaction costs. During the three months ended March 31, 2020, we recorded impairment and restructuring charges and acquisition‑related costs of $55 million, consisting of $54 million or restructuring charges and $1 million of acquisition-related costs. Restructuring charges consisted of $10 million of employee severance costs, $15 million related to the transition of various administrative functions to our GBC, $23 million of charges due to the termination of USPI’s previous management equity plan, $1 million of contract and lease termination fees, and $5 million of other restructuring costs. Acquisition-related costs consisted of $1 million of transaction 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 if in the future negative trends occur that impact our future outlook, impairments of long-lived assets and goodwill may occur, and we may incur additional restructuring charges, which could be material. At March 31, 2021, our continuing operations consisted of three reportable segments, Hospital Operations, Ambulatory Care and Conifer. Our segments are reporting units used to perform our goodwill impairment analysis.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2021
Long-term Debt and Lease Obligation [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The table below shows our long-term debt at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Senior unsecured notes: 6.750% due 2023 $ 1,872 $ 1,872 7.000% due 2025 — 478 6.125% due 2028 2,500 2,500 6.875% due 2031 362 362 Senior secured first lien notes: 4.625% due 2024 1,870 1,870 4.625% due 2024 600 600 7.500% due 2025 700 700 4.875% due 2026 2,100 2,100 5.125% due 2027 1,500 1,500 4.625% due 2028 600 600 Senior secured second lien notes: 5.125% due 2025 1,410 1,410 6.250% due 2027 1,500 1,500 Finance leases, mortgage and other notes 383 403 Unamortized issue costs and note discounts (162) (176) Total long-term debt 15,235 15,719 Less current portion 137 145 Long-term debt, net of current portion $ 15,098 $ 15,574 Senior Unsecured Notes and Senior Secured Notes In March 2021, we retired approximately $478 million aggregate principal amount of our 7.000% senior unsecured notes due 2025 in advance of their maturity date. We paid approximately $495 million from cash on hand to retire the notes. In connection with the retirement, we recorded a loss from early extinguishment of debt of $23 million in the three months ended March 31, 2021, primarily related to the difference between the purchase price and the par value of the notes, as well as the write-off of associated unamortized issuance costs. Credit Agreement We have a senior secured revolving credit facility that provides for revolving loans in an aggregate principal amount of up to $1.900 billion with a $200 million subfacility for standby letters of credit. We amended our credit agreement (as amended to date, the “Credit Agreement”) in April 2020 to, among other things, (i) increase the aggregate revolving credit commitments from the previous limit of $1.500 billion to $1.900 billion (the “Increased Commitments”), subject to borrowing availability, and (ii) increase the advance rate and raise limits on certain eligible accounts receivable in the calculation of the borrowing base, in each case, for an incremental period of 364 days. In April 2021, we further amended the Credit Agreement to, among other things, extend the availability of the Increased Commitments through April 22, 2022 and reduce the interest rate margins. At March 31, 2021, 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, $1.900 billion was available for borrowing under the revolving credit facility at March 31, 2021. The Credit Agreement continues to have a scheduled maturity date of September 12, 2024, and obligations under the Credit Agreement continue to be guaranteed by substantially all of our domestic wholly owned hospital subsidiaries and secured by a first-priority lien on the eligible inventory and accounts receivable owned by us and the subsidiary guarantors, including receivables for Medicaid supplemental payments. Outstanding revolving loans accrue interest at either (i) a base rate plus a margin ranging from 0.25% to 0.75% per annum, or (ii) the London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 1.25% to 1.75% per annum, 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. Letter of Credit Facility In March 2020, we amended our letter of credit facility (as amended, the “LC Facility”) to extend the scheduled maturity date of the LC Facility from March 7, 2021 to September 12, 2024 and to increase the aggregate principal amount of standby and documentary letters of credit that from time to time may be issued thereunder from $180 million to $200 million. On July 29, 2020, we further amended the LC Facility to incrementally increase the maximum secured debt covenant from 4.25 to 1.00 on a quarterly basis up to 6.00 to 1.00 for the quarter ended March 31, 2021, which maximum ratio will step down incrementally on a quarterly basis through the quarter ending December 31, 2021. Obligations under the LC Facility are guaranteed and secured by a first‑priority pledge of the capital stock and other ownership interests of certain of our wholly owned domestic hospital subsidiaries on an equal ranking basis with our senior secured first lien notes.

GUARANTEES

GUARANTEES	3 Months Ended
	Mar. 31, 2021
Guarantees [Abstract]
GUARANTEES	GUARANTEES At March 31, 2021, 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 $122 million. We had a total liability of $98 million recorded for these guarantees included in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at March 31, 2021. At March 31, 2021, 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 $81 million. Of the total, $10 million relates to the obligations of consolidated subsidiaries, which obligations were recorded in the accompanying Condensed Consolidated Balance Sheet at March 31, 2021.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Share-Based Compensation Plans The accompanying Condensed Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020 include $14 million and $13 million, respectively, of pre-tax compensation costs related to our stock-based compensation arrangements. Stock Options The following table summarizes stock option activity during the three months ended March 31, 2021: Options Weighted Average Aggregate Weighted Average (In Millions) Outstanding at December 31, 2020 912,531 $ 22.51 Exercised (293,581) 20.68 Outstanding at March 31, 2021 618,950 $ 23.38 $ 18 6.9 years Vested and expected to vest at March 31, 2021 618,950 $ 23.38 $ 18 6.9 years Exercisable at March 31, 2021 391,748 $ 19.96 $ 13 6.5 years There were 293,581 and 27,167 stock options exercised during the three months ended March 31, 2021 and 2020, respectively, with aggregate intrinsic values of $10 million and less than $1 million, respectively. We did not grant any stock options during the months ended March 31, 2021 and 2020. At March 31, 2021, there were $1 million of total unrecognized compensation costs related to stock options. These costs are expected to be recognized over a weighted average period of less than one year. The following table summarizes information about our outstanding stock options at March 31, 2021: Options Outstanding Options Exercisable Range of Exercise Prices Number of Weighted Average Weighted Average Number of Weighted Average $18.99 to $20.609 391,748 6.5 years $ 19.96 391,748 $ 19.96 $20.61 to $35.430 227,202 7.6 years 29.26 — N/A 618,950 6.9 years $ 23.38 391,748 $ 19.96 Restricted Stock Units The following table summarizes RSU activity during the three months ended March 31, 2021: Restricted Stock Units Weighted Average Grant Unvested at December 31, 2020 2,095,206 $ 25.87 Granted 708,577 54.94 Vested (304,688) 26.12 Forfeited (14,582) 27.74 Unvested at March 31, 2021 2,484,513 $ 34.26 In the three months ended March 31, 2021, we granted an aggregate of 708,577 restricted stock units (“RSUs”). Of these, 260,071 will vest and be settled ratably over a three-year period from the grant date, 189,215 will vest and be settled ratably over eight quarterly periods from the grant date, and 14,192 will vest and be settled on December 31, 2021 . We also granted 3,057 RSUs to a new member of our board of directors, consisting of an initial grant of 1,372 units and a pro-rata annual grant of 1,685 units. Both the initial grant and the annual grant vested immediately, however, the initial grant settles upon separation from the board, while the annual grant settles on the third anniversary of the grant date. In addition, we granted 241,150 performance-based RSUs, the vesting of which is contingent on our achievement of specified per formance goals for the years 2021 to 2023. Provided the goals are achieved, the performance-based RSUs will vest and settle on the third anniversary of the grant date. The actual number of performance-based RSUs that could vest will range from 0% to 200% of the 241,150 units granted, depending on our level of achievement with respect to the performance goals. In the three months ended March 31, 2020, we granted an aggregate of 1,423,953 RSUs. Of these, 493,929 will vest and be settled ratably over a three-year period from the grant date, 104,167 will vest and be settled ratably over a four‑year period from the grant date, and 359,713 will vest and be settled ratably over 11 quarterly periods from the grant date. In addition, we granted 386,016 performance-based RSUs; the vesting of these RSUs is contingent on our achievement of specified performance goals for the years 2020 to 2022. Provided the goals are achieved, the performance‑based RSUs will vest and settle on the third anniversary of the grant date. The actual number of performance-based RSUs that could vest will range from 0% to 200% of the 386,016 units granted, depending on our level of achievement with respect to the performance goals. We also granted 80,128 performance-based RSUs to a Conifer senior officer, which were subsequently forfeited. The fair value of an RSU is based on our share price on the grant date. For certain of the performance-based RSU grants during the three months ended March 31, 2021 and 2020, the number of units that will ultimately vest is subject to adjustment based on the achievement of a market-based condition. As noted above, the fair value of these RSUs is estimated through the use of a Monte Carlo simulation. Significant inputs used in our valuation of these RSUs included the following: Three Months Ended 2021 2020 Expected volatility 71.76 % 54.74 % Risk-free interest rate 0.22 % 1.16 % At March 31, 2021, there were $58 million of total unrecognized compensation costs related to RSUs. These costs are expected to be recognized over a weighted average period of 2.0 years. USPI Management Equity Plan USPI maintains a separate 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. RSUs granted under the plan generally vest 20% in each of the first three years on the anniversary of the grant date with the remaining 40% vesting on the fourth anniversary of the grant date. Once the 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 USPI’s management equity plan during the three months ended March 31, 2021: Restricted Stock Units Weighted Average Grant Unvested at December 31, 2020 2,025,056 $ 34.13 Vested (373,499) 34.13 Forfeited (47,112) 34.13 Unvested at March 31, 2021 1,604,445 $ 34.13 Employee Retirement Plans In the three months ended March 31, 2021 and 2020, we recognized service cost related to one of our frozen non‑qualified defined benefit pension plans of less than $1 million for both periods in salaries, wages and benefits expense. Additionally, in the three months ended March 31, 2021 and 2020, we recognized a benefit of $1 million and expense of $2 million, respectively, related to other components of net periodic pension cost and net periodic postretirement benefit cost related to our frozen qualified and non-qualified defined benefit plans in other non-operating income, net, in the accompanying Condensed Consolidated Statements of Operations.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
EQUITY	EQUITY Changes in Shareholders’ Equity The following tables show the changes in consolidated equity during the three months ended March 31, 2021 and 2020 (dollars in millions, share amounts in thousands): Common Stock Additional Accumulated Accumulated Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2020 106,070 $ 7 $ 4,844 $ (281) $ (2,128) $ (2,414) $ 909 $ 937 Net income — — — — 97 — 44 141 Distributions paid to noncontrolling interests — — — — — — (61) (61) Other comprehensive loss — — — (1) — — — (1) Accretion of redeemable noncontrolling interests — — (3) — — — — (3) Purchases (sales) of businesses and noncontrolling interests, net — — (10) — — — 1 (9) Stock-based compensation expense and issuance of common stock 617 1 10 — — 1 — 12 Balances at March 31, 2021 106,687 $ 8 $ 4,841 $ (282) $ (2,031) $ (2,413) $ 893 $ 1,016 Common Stock Additional Accumulated Accumulated Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2019 104,197 $ 7 $ 4,760 $ (257) $ (2,513) $ (2,414) $ 854 $ 437 Net income — — — — 93 — 32 125 Distributions paid to noncontrolling interests — — — — — — (40) (40) Other comprehensive income — — — 1 — — — 1 Accretion of redeemable noncontrolling interests — — (1) — — — — (1) Purchases (sales) of businesses and noncontrolling interests, net — — (30) — — — 15 (15) Cumulative effect of accounting change — — — — (14) — — (14) Stock-based compensation expense and issuance of common stock 331 — 10 — — — — 10 Balances at March 31, 2020 104,528 $ 7 $ 4,739 $ (256) $ (2,434) $ (2,414) $ 861 $ 503 Our noncontrolling interests balances at March 31, 2021 and December 31, 2020 were comprised of $113 million and $116 million, respectively, from our Hospital Operations segment, and $780 million and $793 million, respectively, from our Ambulatory Care segment. Our net income available to noncontrolling interests for the three months ended March 31, 2021 and 2020 in the table above were comprised of $4 million and $2 million, respectively, from our Hospital Operations segment, and $40 million and $30 million, respectively, from our Ambulatory Care segment.

NET OPERATING REVENUES

NET OPERATING REVENUES	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
NET OPERATING REVENUES	CONTRACT BALANCES Hospital Operations Segment Amounts related to services provided to patients for which we have not billed and that do not meet the conditions of unconditional right to payment at the end of the reporting period are contract assets. For our Hospital Operations segment, our contract assets include services that we have provided to patients who are still receiving inpatient care in our facilities at the end of the reporting period. Our Hospital Operations segment’s contract assets were included in other current assets in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020. Approximately 91% 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. In certain circumstances, when a hospital is experiencing financial difficulty due to delays in receiving payment for the Medicare services it provided, it may be eligible for an accelerated or advance payment pursuant to the Medicare accelerated payment program. As discussed in Note 1, the COVID Acts revised the Medicare accelerated payment program in an attempt to disburse payments to hospitals more quickly. During the year ended December 31, 2020, our Hospital Operations segment received advance payments from the Medicare accelerated payment program following its expansion under the COVID Acts. These advance payments were recorded as contract liabilities in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020. No additional advances were received in the three months ended March 31, 2021. The opening and closing balances of contract assets and contract liabilities for our Hospital Operations segment are as follows: Contract Liability – Contract Liability – Current Long-term Contract Assets Advances from Medicare Advances from Medicare December 31, 2020 $ 208 $ 510 $ 819 March 31, 2021 180 734 595 Increase (decrease) $ (28) $ 224 $ (224) December 31, 2019 $ 170 $ — $ — March 31, 2020 151 — — Decrease $ (19) $ — $ — Ambulatory Care Segment During the year ended December 31, 2020, our Ambulatory Care segment also received advance payments from the expanded Medicare accelerated payment program. At March 31, 2021 and December 31, 2020, contract liabilities included $66 million and $51 million, respectively, and contract liabilities – long-term included $38 million and $62 million, respectively, of Medicare advance payments received by our unconsolidated affiliates for whom we provide cash management services. The opening and closing balances of contract liabilities for our Ambulatory Care segment are as follows: Contract Liability – Contract Liability – Current Long-term Advances from Medicare Advances from Medicare December 31, 2020 $ 93 $ 83 March 31, 2021 123 44 Increase (decrease) $ 30 $ (39) Our Ambulatory Care segment did not have any outstanding payments from the Medicare accelerated payment program at March 31, 2020 and December 31, 2019. Conifer Segment Conifer enters into contracts with customers to provide revenue cycle management and other services, such as value‑based care, consulting and project services. The payment terms and conditions in our customer contracts vary. In some cases, customers are invoiced in advance and (for other than fixed-price fee arrangements) a true-up to the actual fee is included on a subsequent invoice. In other cases, payment is due in arrears. In addition, some contracts contain performance incentives, penalties and other forms of variable consideration. When the timing of Conifer’s delivery of services is different from the timing of payments made by the customers, Conifer recognizes either unbilled revenue (performance precedes contractual right to invoice the customer) or deferred revenue (customer payment precedes Conifer service performance). In the following table, customers that prepay prior to obtaining control/benefit of the service are represented by deferred contract revenue until the performance obligations are satisfied. Unbilled revenue represents arrangements in which Conifer has provided services to and the customer has obtained control/benefit of services prior to the contractual invoice date. Contracts with payment in arrears are recognized as receivables in the month the service is performed. The opening and closing balances of Conifer’s receivables, contract assets and contract liabilities are as follows: Contract Liability – Contract Liability – Contract Asset – Current Long-Term Receivables Unbilled Revenue Deferred Revenue Deferred Revenue December 31, 2020 $ 56 $ 20 $ 56 $ 16 March 31, 2021 56 14 60 16 Increase (decrease) $ — $ (6) $ 4 $ — December 31, 2019 $ 26 $ 11 $ 61 $ 18 March 31, 2020 23 7 61 17 Decrease $ (3) $ (4) $ — $ (1) The difference between the opening and closing balances of Conifer’s contract assets and contract liabilities are primarily related to prepayments for those customers who are billed in advance, changes in estimates related to metric-based services, and up-front integration services that are typically not distinct and are, therefore, recognized over the performance obligation period to which they relate. Our Conifer segment’s receivables and contract assets were reported as part of other current assets in our accompanying Condensed Consolidated Balance Sheets, and its current and long-term contract liabilities were reported as part of contract liabilities and contract liabilities – long-term, respectively, in our accompanying Condensed Consolidated Balance Sheets. In the three months ended March 31, 2021 and 2020, Conifer recognized $49 million and $54 million, respectively, of revenue that was included in the opening current deferred revenue liability. This revenue consists primarily of prepayments for those customers who are billed in advance, changes in estimates related to metric-based services, and up‑front integration services that are recognized over the services period. Contract Costs During both of the three months ended March 31, 2021 and 2020, we recognized amortization expense related to deferred contract setup costs of $1 million. At March 31, 2021 and December 31, 2020, the unamortized customer contract costs were $23 million and $24 million, respe 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, 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 Conifer segment primarily consist of revenues from providing revenue cycle management services to health systems, as well as individual hospitals, physician practices, self-insured organizations, health plans and other entities. The table below shows our sources of net operating revenues less implicit price concessions from continuing operations: Three Months Ended 2021 2020 Hospital Operations: Net patient service revenues from hospitals and related outpatient facilities: Medicare $ 688 $ 705 Medicaid 259 281 Managed care 2,480 2,321 Uninsured 47 40 Indemnity and other 176 193 Total 3,650 3,540 Other revenues (1) 297 294 Hospital Operations total prior to inter-segment eliminations 3,947 3,834 Ambulatory Care 646 490 Conifer 310 332 Inter-segment eliminations (122) (136) Net operating revenues $ 4,781 $ 4,520 (1) Primarily physician practices revenues. Adjustments for prior-year cost reports and related valuation allowances, principally related to Medicare and Medicaid, increased revenues in the three months ended March 31, 2021 and 2020 by $5 million and $4 million, respectively. Estimated cost report settlements 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 final determination of amounts earned under all the above arrangements with Medicare and Medicaid. The table below shows the composition of net operating revenues for our Ambulatory Care segment: Three Months Ended 2021 2020 Net patient service revenues $ 619 $ 464 Management fees 22 21 Revenue from other sources 5 5 Net operating revenues $ 646 $ 490 The table below shows the composition of net operating revenues for our Conifer segment: Three Months Ended 2021 2020 Revenue cycle services – Tenet $ 118 $ 134 Revenue cycle services – other customers 169 176 Other services – Tenet 4 2 Other services – other customers 19 20 Net operating revenues $ 310 $ 332 Other services represent approximately 7% of Conifer’s revenue for both of the three months ended March 31, 2021 and 2020 and include value-based care services, consulting services and other client-defined projects. Performance Obligations The following table includes Conifer’s revenue 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. 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, performance incentives, penalties or other variable consideration that is considered constrained. Conifer’s 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. Nine Months Years Ending Later Years December 31, Total 2021 2022 2023 2024 2025 Performance obligations $ 6,602 $ 454 $ 603 $ 603 $ 549 $ 549 $ 3,844

PROPERTY AND PROFESSIONAL AND G

PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE	3 Months Ended
	Mar. 31, 2021
Property and Professional and General Liablity Insurance [Abstract]
PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE	PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY 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 on an occurrence basis. For both of the policy periods April 1, 2020 through March 31, 2021 and April 1, 2021 through March 31, 2022, 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 and a per-occurrence sub-limit of $200 million for named windstorms 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 up to a maximum of $40 million for California earthquakes, $25 million for floods and named windstorms, and 2% of insured values for New Madrid fault earthquakes, with a maximum per claim deductible of $25 million. Floods and certain other covered losses, including fires and other perils, have a minimum deductible of $1 million. Professional and General Liability Reserves We are self-insured for the majority of our professional and general liability claims and purchase insurance from third‑parties to cover catastrophic claims. At March 31, 2021 and December 31, 2020, the aggregate current and long-term professional and general liability reserves in the accompanying Condensed Consolidated Balance Sheets were $1.026 billion and $978 million, respectively. These reserves 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. If the aggregate limit of any of our professional and general liability policies is exhausted, in whole or in part, it could deplete or reduce the limits available to pay any other material claims applicable to that policy period. Malpractice expense of $91 million and $73 million was included in other operating expenses, net, in the accompanying Condensed Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020, respectively.

CLAIMS AND LAWSUITS

CLAIMS AND LAWSUITS	3 Months Ended
	Mar. 31, 2021
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. 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. 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. In cases where we have not disclosed an estimate, we have concluded that the loss is either not reasonably possible or the loss, or a range of loss, is not reasonably estimable, based on available information. Given the inherent uncertainties associated with these matters, especially those involving governmental agencies, and the indeterminate damages sought in some cases, there is significant uncertainty as to the ultimate liability we may incur from these 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. Government Investigation of Detroit Medical Center Detroit Medical Center (“DMC”) is subject to an ongoing investigation commenced in October 2017 by the U.S. Attorney’s Office for the Eastern District of Michigan and the Civil Division of the DOJ for potential violations of the Stark law, the Medicare and Medicaid anti-kickback and anti-fraud and abuse amendments codified under Section 1128B(b) of the Social Security Act, and the federal False Claims Act related to DMC’s employment of nurse practitioners and physician assistants (“Mid-Level Practitioners”) from 2006 through 2017. As previously disclosed, a media report was published in August 2017 alleging that 14 Mid-Level Practitioners were terminated by DMC earlier in 2017 due to compliance concerns. We are cooperating with the investigation; however, we are unable to determine the potential exposure, if any, at this time. Other Matters In July 2019, certain of the entities that purchased from us the operations of Hahnemann University Hospital and St. Christopher’s Hospital for Children in Philadelphia commenced Chapter 11 bankruptcy proceedings. As previously disclosed in our Form 8-K filed September 1, 2017, the purchasers assumed our funding obligations under the Pension Fund for Hospital and Health Care Employees of Philadelphia and Vicinity (the “Fund”), a pension plan related to the operations at Hahnemann University Hospital. Pursuant to rules under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), under certain circumstances we could become liable for withdrawal liability in the event a withdrawal is triggered with respect to the Fund. In addition, pursuant to applicable ERISA rules, we could become secondarily liable if the purchasers fail to satisfy their obligations to the Fund. We are also subject to claims and lawsuits arising 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 laws, tax audits and other matters. Although the results of these claims and lawsuits cannot be predicted with certainty, we believe that the ultimate resolution of these 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, including lawsuits from patients, employees and others exposed to COVID-19 at our facilities. 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. The following table presents reconciliations of the beginning and ending liability balances in connection with legal settlements and related costs recorded in continuing operations during the three months ended March 31, 2021 and 2020. Balances at Litigation and Cash Balances at Three Months Ended March 31, 2021 $ 26 $ 13 $ (15) $ 24 Three Months Ended March 31, 2020 $ 86 $ 2 $ (2) $ 86 For the three months ended March 31, 2021 and 2020, we recorded costs of $13 million and $2 million, respectively, in continuing operations in connection with significant legal proceedings and governmental investigations.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES	3 Months Ended
	Mar. 31, 2021
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES	REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES We have a put call agreement (the “Baylor Put/Call Agreement”) with Baylor University Medical Center (“Baylor”) that contains put and call options with respect to the 5% ownership interest Baylor holds in USPI. Each year starting in 2021, Baylor may put up to one-third of their total shares in USPI held as of April 1, 2017 by delivering notice by the end of January of such year. In each year that Baylor does not put the full 33.3% of USPI’s shares allowable, we may call the difference between the number of shares Baylor put and the maximum number of shares they could have put that year. In addition, the Baylor Put/Call Agreement contains a call option pursuant to which we have the ability to acquire all of Baylor’s ownership interest by 2024. We have the ability to choose whether to settle the purchase price for the Baylor put/call, which is mutually agreed-upon fair market value, in cash or shares of our common stock. Baylor did not deliver a put notice to us in January 2021. In February 2021, we notified Baylor of our intention to exercise our call option to purchase 33.3% of the USPI shares held by Baylor as of April 1, 2017. Based on the nature of the Baylor Put/Call Agreement, Baylor’s minority interest in USPI was classified as a redeemable noncontrolling interest in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020. The following table shows the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries during the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Balances at beginning of period $ 1,952 $ 1,506 Net income 81 34 Distributions paid to noncontrolling interests (58) (36) Accretion of redeemable noncontrolling interests 3 1 Purchases and sales of businesses and noncontrolling interests, net 14 21 Balances at end of period $ 1,992 $ 1,526 The following tables show the composition by segment of our redeemable noncontrolling interests balances at March 31, 2021 and December 31, 2020, as well as our net income available to redeemable noncontrolling interests for the three months ended March 31, 2021 and 2020: March 31, 2021 December 31, 2020 Hospital Operations $ 280 $ 267 Ambulatory Care 1,284 1,273 Conifer 428 412 Redeemable noncontrolling interests $ 1,992 $ 1,952 Three Months Ended 2021 2020 Hospital Operations $ 13 $ (9) Ambulatory Care 52 27 Conifer 16 16 Net income available to redeemable noncontrolling interests $ 81 $ 34

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three months ended March 31, 2021, we recorded income tax expense of $45 million in continuing operations on a pre-tax income of $267 million compared to an income tax benefit of $75 million on pre-tax income of $85 million during the three months ended March 31, 2020. For the three months ended March 31, 2021, the provision for income taxes was calculated by applying an estimate of the annual effective tax rate for the full year 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 or loss attributable to noncontrolling interests was deducted from pre-tax income or loss in the determination of the annualized effective tax rate used to calculate income taxes for the quarter. For the three months ended March 31, 2020, we utilized the discrete effective tax rate method, as allowed by the Financial Accounting Standards Board Accounting Standards Codification 740-270-30-18, “Income Taxes–Interim Reporting,” to calculate the interim income tax provision. The discrete method is applied when application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. The discrete method treats the year-to-date period as if it were the annual period and determines the income tax expense or benefit on that basis. We believe that the use of this discrete method in 2020 was more appropriate than the annual effective tax rate method as the estimated annual effective tax rate method was not reliable due to the high degree of uncertainty in estimating annual pre-tax income due to the impact of the COVID-19 pandemic and the evolving guidance by the government on utilization of grant funds. The reconciliation between the amount of recorded income tax expense (benefit) and the amount calculated at the statutory federal tax rate is shown in the following table: Three Months Ended 2021 2020 Tax expense at statutory federal rate of 21% $ 56 $ 18 State income taxes, net of federal income tax benefit 13 5 Tax benefit attributable to noncontrolling interests (25) (14) Nontaxable gains — 3 Stock-based compensation (1) — Change in valuation allowance — (90) Other items 2 3 Income tax expense (benefit) $ 45 $ (75) As a result of the change in the business interest expense disallowance rules under the COVID Acts, we recorded an income tax benefit of $91 million in the three months ended March 31, 2020 to decrease the valuation allowance for interest expense carryforwards due to the additional deduction of interest expense. During the three months ended March 31, 2021, there were no adjustments to our estimated liabilities for uncertain tax positions. The total amount of unrecognized tax benefits at March 31, 2021 was $31 million, of which $29 million, if recognized, would impact our effective tax rate and income tax expense (benefit) from continuing operations. Our practice is to recognize interest and penalties related to income tax matters in income tax expense in our statement of operations. There were no accrued interest and penalties on unrecognized tax benefits at March 31, 2021.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table is a reconciliation of the numerators and denominators of our basic and diluted earnings per common share calculations for our continuing operations for three months ended March 31, 2021 and 2020. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands. Net Income Available Weighted Per-Share Three Months Ended March 31, 2021 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 97 106,309 $ 0.91 Effect of dilutive stock options, restricted stock units and deferred compensation units — 1,756 (0.01) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 97 108,065 $ 0.90 Three Months Ended March 31, 2020 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 94 104,353 $ 0.90 Effect of dilutive stock options, restricted stock units and deferred compensation units — 1,380 (0.01) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 94 105,733 $ 0.89

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	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 are 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. 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 tables present information about assets measured at fair value at March 31, 2021 and December 31, 2020 and indicate the fair value hierarchy of the valuation techniques we utilized to determine such fair values: Total Quoted Prices Significant Other Significant At March 31, 2021: Long-lived assets held for sale $ 139 $ — $ 139 $ — At December 31, 2020: Long-lived assets held for sale $ 140 $ — $ 140 $ — Long-lived assets held and used 483 — 483 — $ 623 $ — $ 623 $ — 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, which include inputs other than quoted prices included in Level 1 that are observable, either directly or indirectly. At March 31, 2021 and December 31, 2020, the estimated fair value of our long-term debt was approximately 104.4% an d 104.5%, respectively, of the carrying value of the debt.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Preliminary purchase price allocations (representing the fair value of the consideration conveyed) for all acquisitions made during the three months ended March 31, 2021 and 2020 are as follows: Three Months Ended 2021 2020 Current assets $ — $ 6 Property and equipment 18 8 Other intangible assets — 8 Goodwill 25 83 Other long-term assets, including previously held equity method investments 4 5 Current liabilities (7) (8) Long-term liabilities (2) (6) Redeemable noncontrolling interests in equity of consolidated subsidiaries (11) (30) Noncontrolling interests (2) (11) Cash paid, net of cash acquired (25) (55) Gains on consolidations $ — $ — The goodwill generated from these transactions, the majority of which will 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 $25 million from acquisitions completed during the three months ended March 31, 2021 was recorded in our Ambulatory Care segment. Approximately $4 million and $1 million in transaction costs related to prospective and closed acquisitions were expensed during the three-month periods ended March 31, 2021 and 2020, respectively, and were included in impairment and restructuring charges, and acquisition-related costs in the accompanying Condensed Consolidated Statements of Operations.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our business consists of our Hospital Operations segment, our Ambulatory Care segment and our Conifer segment. The factors for determining the reportable segments include the manner in which management evaluates operating performance combined with the nature of the individual business activities. Our Hospital Operations segment is comprised of acute care and specialty hospitals, ancillary outpatient facilities, micro-hospitals, imaging centers, physician practices and urgent care centers. At March 31, 2021, our subsidiaries operated 65 hospitals serving primarily urban and suburban communities in nine states. Most of the urgent care centers in our Hospital Operations segment were classified as held for sale at March 31, 2021 and December 31, 2020. Our Ambulatory Care segment is comprised of the operations of USPI. At March 31, 2021, USPI had interests in 312 ambulatory surgery centers and 24 surgical hospitals in 30 states. At March 31, 2021, our Ambulatory Care segment also included 24 imaging centers, which were transferred to our Hospital Operations segment effective April 1, 2021. The total assets associated with the imaging centers transferred to our Hospital Operations segment constituted less than 1% of our consolidated total assets at March 31, 2021. Additionally, our Ambulatory Care segment included 39 urgent care centers at March 31, 2021, which were classified as held for sale at March 31, 2021 and December 31, 2020. At March 31, 2021, we owned 95% of USPI. Our Conifer segment provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients. At March 31, 2021, Conifer provided services to approximately 640 Tenet and non-Tenet hospitals and other clients nationwide. In 2012, we entered into an agreement documenting the terms and conditions of various services Conifer provides to Tenet hospitals (“RCM Agreement”), as well as an agreement documenting certain administrative services our Hospital Operations segment provides to Conifer. In March 2021, we entered into a month-to-month agreement amending the RCM Agreement effective January 1, 2021 (“Amended RCM Agreement”) to update certain terms and conditions related to the revenue cycle management services Conifer provides to Tenet hospitals. We believe the pricing terms for the services provided under the Amended RCM Agreement are commercially reasonable and consistent with estimated third-party terms. At March 31, 2021, we owned 76% of Conifer Health Solutions, LLC, which is Conifer’s principal subsidiary. 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: March 31, 2021 December 31, 2020 Assets: Hospital Operations $ 17,555 $ 18,048 Ambulatory Care 8,027 8,048 Conifer 972 1,010 Total $ 26,554 $ 27,106 Three Months Ended 2021 2020 Capital expenditures: Hospital Operations $ 110 $ 167 Ambulatory Care 8 11 Conifer 3 4 Total $ 121 $ 182 Net operating revenues: Hospital Operations total prior to inter-segment eliminations $ 3,947 $ 3,834 Ambulatory Care 646 490 Conifer Tenet 122 136 Other clients 188 196 Total Conifer revenues 310 332 Inter-segment eliminations (122) (136) Total $ 4,781 $ 4,520 Equity in earnings of unconsolidated affiliates: Hospital Operations $ 4 $ 2 Ambulatory Care 38 26 Total $ 42 $ 28 Adjusted EBITDA: Hospital Operations $ 434 $ 342 Ambulatory Care 257 156 Conifer 86 87 Total $ 777 $ 585 Three Months Ended 2021 2020 Depreciation and amortization: Hospital Operations $ 190 $ 175 Ambulatory Care 25 19 Conifer 9 9 Total $ 224 $ 203 Adjusted EBITDA $ 777 $ 585 Depreciation and amortization (224) (203) Impairment and restructuring charges, and acquisition-related costs (20) (55) Litigation and investigation costs (13) (2) Interest expense (240) (243) Loss from early extinguishment of debt (23) — Other non-operating income, net 10 1 Net gains on sales, consolidation and deconsolidation of facilities — 2 Income from continuing operations, before income taxes $ 267 $ 85

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Amended Credit Facility As discussed in Note 6, on April 19, 2021, we amended our Credit Agreement to, among other things, extend the temporary increase of the aggregate revolving credit commitments from the previous limit of $1.500 billion to $1.900 billion through April 22, 2022. In addition, the amendment decreased the margins applied to the credit facility’s borrowing rates. As amended, the margin applicable to base rate loans ranges from 0.25% to 0.75% per annum and the margin applicable to LIBOR loans ranges from 1.25% to 1.75% per annum. Sale of Urgent Care Centers On April 30, 2021, we completed the sale of the majority of our urgent care centers operated under the MedPost and CareSpot brands to an unaffiliated independent urgent care provider. We received net cash proceeds of approximately $80 million for the sale of these facilities.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Tenet Healthcare Corporation (together with our subsidiaries, referred to herein as “Tenet,” “we,” “our” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Through an expansive care network that includes USPI Holding Company, Inc. (“USPI”), at March 31, 2021 we operated 65 hospitals and over 540 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, urgent care and imaging centers, and other care sites and clinics. We also operate Conifer Health Solutions, LLC through our Conifer Holdings, Inc. (“Conifer”) subsidiary, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients. This quarterly report supplements our Annual Report on Form 10-K for the year ended December 31, 2020 (“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 financial and statistical data included in these notes to our Condensed Consolidated Financial Statements relate to our continuing operations, with dollar amounts expressed in millions (except per-share amounts). Although the Condensed Consolidated Financial Statements and related notes within this document are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. In preparing our financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), we are required 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. 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 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-month period ended March 31, 2021 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 COVID-19 pandemic on our operations, business, financial condition and cash flows; 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; 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 natural disasters and other weather-related occurrences; 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. Factors that affect service mix, revenue mix, patient volumes and, thereby, the results of operations at our hospitals and related healthcare facilities include, but are not limited to: changes in federal, state and local healthcare and business regulations, including mandated closures and other operating restrictions; the business environment, economic conditions and demographics of local communities in which we operate; the number of uninsured and underinsured individuals in local communities treated at our hospitals; 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; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; hospital 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. Certain prior-year amounts have been reclassified to conform to the current year presentation. In the accompanying Condensed Consolidated Balance Sheets, income tax receivable has been reclassified to other current assets, as it is no longer significant enough to present separately.
Cash and Cash Equivalents	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 $2.141 billion and $2.446 billion at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 and December 31, 2020, our book overdrafts were $171 million and $154 million, respectively, which were classified as accounts payable. At March 31, 2021 and December 31, 2020, $172 million and $166 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our captive insurance subsidiaries. Also at March 31, 2021 and December 31, 2020, we had $42 million and $93 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $36 million and $85 million, respectively, were included in accounts payable. During the three month s ended March 31, 2021 and 2020, we recorded right-of-use assets related to non‑cancellable finance leases of $11 million a nd $15 million , respectively, and related to non-cancellable operating leases of $46 million and $54 million
Investments in Unconsolidated Affiliates	Investments in Unconsolidated AffiliatesWe control 291 of the facilities within our Ambulatory Care segment and, therefore, consolidate their results. We account for many of the facilities our Ambulatory Care segment operates (108 of 399 at March 31, 2021), 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 the accompanying Condensed Consolidated Statements of Operations.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of other intangible assets	The following tables provide information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020: Gross Accumulated Net Book At March 31, 2021: Capitalized software costs $ 1,836 $ (1,125) $ 711 Trade names 102 — 102 Contracts 872 (116) 756 Other 111 (90) 21 Total $ 2,921 $ (1,331) $ 1,590 Gross Accumulated Net Book At December 31, 2020: Capitalized software costs $ 1,800 $ (1,084) $ 716 Trade names 102 — 102 Contracts 872 (111) 761 Other 110 (89) 21 Total $ 2,884 $ (1,284) $ 1,600
Schedule of estimated future amortization of intangibles with finite useful lives	Estimated future amortization of intangibles with finite useful lives at March 31, 2021 is as follows: Nine Months Years Ending Later Years December 31, Total 2021 2022 2023 2024 2025 Amortization of intangible assets $ 907 $ 128 $ 125 $ 112 $ 102 $ 87 $ 353
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 reflect 100% of the investee’s results beginning on the date of our acquisition of the investment. Three Months Ended 2021 2020 Net operating revenues $ 634 $ 566 Net income $ 165 $ 109 Net income available to the investees $ 102 $ 69

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2021
Accounts Receivable Additional Disclosures [Abstract]
Schedule of components of accounts receivable	The principal components of accounts receivable are shown in the table below: March 31, 2021 December 31, 2020 Continuing operations: Patient accounts receivable $ 2,544 $ 2,499 Estimated future recoveries 156 156 Net cost reports and settlements receivable and valuation allowances 43 34 2,743 2,689 Discontinued operations 2 1 Accounts receivable, net $ 2,745 $ 2,690
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 at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Assets: Other current assets $ 255 $ 378 Investments and other assets $ 277 $ 206 Liabilities: Other current liabilities $ 122 $ 110 Other long-term liabilities $ 52 $ 56
Schedule of estimated costs for charity care and self-pay patients	The following table shows 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 in the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Estimated costs for: Uninsured patients $ 168 $ 156 Charity care patients 20 40 Total $ 188 $ 196

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of opening and closing balances of Company's contract assets	The opening and closing balances of contract assets and contract liabilities for our Hospital Operations segment are as follows: Contract Liability – Contract Liability – Current Long-term Contract Assets Advances from Medicare Advances from Medicare December 31, 2020 $ 208 $ 510 $ 819 March 31, 2021 180 734 595 Increase (decrease) $ (28) $ 224 $ (224) December 31, 2019 $ 170 $ — $ — March 31, 2020 151 — — Decrease $ (19) $ — $ — The opening and closing balances of contract liabilities for our Ambulatory Care segment are as follows: Contract Liability – Contract Liability – Current Long-term Advances from Medicare Advances from Medicare December 31, 2020 $ 93 $ 83 March 31, 2021 123 44 Increase (decrease) $ 30 $ (39) The opening and closing balances of Conifer’s receivables, contract assets and contract liabilities are as follows: Contract Liability – Contract Liability – Contract Asset – Current Long-Term Receivables Unbilled Revenue Deferred Revenue Deferred Revenue December 31, 2020 $ 56 $ 20 $ 56 $ 16 March 31, 2021 56 14 60 16 Increase (decrease) $ — $ (6) $ 4 $ — December 31, 2019 $ 26 $ 11 $ 61 $ 18 March 31, 2020 23 7 61 17 Decrease $ (3) $ (4) $ — $ (1)

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2021
Discontinued Operation, Additional Disclosures [Abstract]
Assets and liabilities classified as held for sale and summary of disposals of significant business components	Assets and liabilities classified as held for sale at March 31, 2021 were comprised of the following: Accounts receivable $ 14 Other current assets 6 Investments and other long-term assets 41 Property and equipment 39 Goodwill 39 Current liabilities (31) Long-term liabilities (37) Net assets held for sale $ 71

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2021
Long-term Debt and Lease Obligation [Abstract]
Summary of long-term debt	The table below shows our long-term debt at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Senior unsecured notes: 6.750% due 2023 $ 1,872 $ 1,872 7.000% due 2025 — 478 6.125% due 2028 2,500 2,500 6.875% due 2031 362 362 Senior secured first lien notes: 4.625% due 2024 1,870 1,870 4.625% due 2024 600 600 7.500% due 2025 700 700 4.875% due 2026 2,100 2,100 5.125% due 2027 1,500 1,500 4.625% due 2028 600 600 Senior secured second lien notes: 5.125% due 2025 1,410 1,410 6.250% due 2027 1,500 1,500 Finance leases, mortgage and other notes 383 403 Unamortized issue costs and note discounts (162) (176) Total long-term debt 15,235 15,719 Less current portion 137 145 Long-term debt, net of current portion $ 15,098 $ 15,574

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of stock option activity	The following table summarizes stock option activity during the three months ended March 31, 2021: Options Weighted Average Aggregate Weighted Average (In Millions) Outstanding at December 31, 2020 912,531 $ 22.51 Exercised (293,581) 20.68 Outstanding at March 31, 2021 618,950 $ 23.38 $ 18 6.9 years Vested and expected to vest at March 31, 2021 618,950 $ 23.38 $ 18 6.9 years Exercisable at March 31, 2021 391,748 $ 19.96 $ 13 6.5 years
Summary of information about stock options by range of exercise prices	The following table summarizes information about our outstanding stock options at March 31, 2021: Options Outstanding Options Exercisable Range of Exercise Prices Number of Weighted Average Weighted Average Number of Weighted Average $18.99 to $20.609 391,748 6.5 years $ 19.96 391,748 $ 19.96 $20.61 to $35.430 227,202 7.6 years 29.26 — N/A 618,950 6.9 years $ 23.38 391,748 $ 19.96
Summary of restricted stock unit activity	The following table summarizes RSU activity during the three months ended March 31, 2021: Restricted Stock Units Weighted Average Grant Unvested at December 31, 2020 2,095,206 $ 25.87 Granted 708,577 54.94 Vested (304,688) 26.12 Forfeited (14,582) 27.74 Unvested at March 31, 2021 2,484,513 $ 34.26 The following table summarizes RSU activity under USPI’s management equity plan during the three months ended March 31, 2021: Restricted Stock Units Weighted Average Grant Unvested at December 31, 2020 2,025,056 $ 34.13 Vested (373,499) 34.13 Forfeited (47,112) 34.13 Unvested at March 31, 2021 1,604,445 $ 34.13
Schedule of assumptions used to determine fair value of stock options	Significant inputs used in our valuation of these RSUs included the following: Three Months Ended 2021 2020 Expected volatility 71.76 % 54.74 % Risk-free interest rate 0.22 % 1.16 %

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of changes in consolidated equity	The following tables show the changes in consolidated equity during the three months ended March 31, 2021 and 2020 (dollars in millions, share amounts in thousands): Common Stock Additional Accumulated Accumulated Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2020 106,070 $ 7 $ 4,844 $ (281) $ (2,128) $ (2,414) $ 909 $ 937 Net income — — — — 97 — 44 141 Distributions paid to noncontrolling interests — — — — — — (61) (61) Other comprehensive loss — — — (1) — — — (1) Accretion of redeemable noncontrolling interests — — (3) — — — — (3) Purchases (sales) of businesses and noncontrolling interests, net — — (10) — — — 1 (9) Stock-based compensation expense and issuance of common stock 617 1 10 — — 1 — 12 Balances at March 31, 2021 106,687 $ 8 $ 4,841 $ (282) $ (2,031) $ (2,413) $ 893 $ 1,016 Common Stock Additional Accumulated Accumulated Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2019 104,197 $ 7 $ 4,760 $ (257) $ (2,513) $ (2,414) $ 854 $ 437 Net income — — — — 93 — 32 125 Distributions paid to noncontrolling interests — — — — — — (40) (40) Other comprehensive income — — — 1 — — — 1 Accretion of redeemable noncontrolling interests — — (1) — — — — (1) Purchases (sales) of businesses and noncontrolling interests, net — — (30) — — — 15 (15) Cumulative effect of accounting change — — — — (14) — — (14) Stock-based compensation expense and issuance of common stock 331 — 10 — — — — 10 Balances at March 31, 2020 104,528 $ 7 $ 4,739 $ (256) $ (2,434) $ (2,414) $ 861 $ 503

NET OPERATING REVENUES (Tables)

NET OPERATING REVENUES (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of operating revenues less provision for doubtful accounts and implicit price concessions	The table below shows our sources of net operating revenues less implicit price concessions from continuing operations: Three Months Ended 2021 2020 Hospital Operations: Net patient service revenues from hospitals and related outpatient facilities: Medicare $ 688 $ 705 Medicaid 259 281 Managed care 2,480 2,321 Uninsured 47 40 Indemnity and other 176 193 Total 3,650 3,540 Other revenues (1) 297 294 Hospital Operations total prior to inter-segment eliminations 3,947 3,834 Ambulatory Care 646 490 Conifer 310 332 Inter-segment eliminations (122) (136) Net operating revenues $ 4,781 $ 4,520 (1) Primarily physician practices revenues. The table below shows the composition of net operating revenues for our Ambulatory Care segment: Three Months Ended 2021 2020 Net patient service revenues $ 619 $ 464 Management fees 22 21 Revenue from other sources 5 5 Net operating revenues $ 646 $ 490 The table below shows the composition of net operating revenues for our Conifer segment: Three Months Ended 2021 2020 Revenue cycle services – Tenet $ 118 $ 134 Revenue cycle services – other customers 169 176 Other services – Tenet 4 2 Other services – other customers 19 20 Net operating revenues $ 310 $ 332
Performance obligation, expected timing of satisfaction	The following table includes Conifer’s revenue 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. 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, performance incentives, penalties or other variable consideration that is considered constrained. Conifer’s 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. Nine Months Years Ending Later Years December 31, Total 2021 2022 2023 2024 2025 Performance obligations $ 6,602 $ 454 $ 603 $ 603 $ 549 $ 549 $ 3,844

CLAIMS AND LAWSUITS (Tables)

CLAIMS AND LAWSUITS (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
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 recorded in continuing operations during the three months ended March 31, 2021 and 2020. Balances at Litigation and Cash Balances at Three Months Ended March 31, 2021 $ 26 $ 13 $ (15) $ 24 Three Months Ended March 31, 2020 $ 86 $ 2 $ (2) $ 86

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES (Tables)	3 Months Ended
	Mar. 31, 2021
Noncontrolling Interest [Abstract]
Schedule of changes in redeemable noncontrolling interests in equity of consolidated subsidiaries	The following table shows the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries during the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Balances at beginning of period $ 1,952 $ 1,506 Net income 81 34 Distributions paid to noncontrolling interests (58) (36) Accretion of redeemable noncontrolling interests 3 1 Purchases and sales of businesses and noncontrolling interests, net 14 21 Balances at end of period $ 1,992 $ 1,526 The following tables show the composition by segment of our redeemable noncontrolling interests balances at March 31, 2021 and December 31, 2020, as well as our net income available to redeemable noncontrolling interests for the three months ended March 31, 2021 and 2020: March 31, 2021 December 31, 2020 Hospital Operations $ 280 $ 267 Ambulatory Care 1,284 1,273 Conifer 428 412 Redeemable noncontrolling interests $ 1,992 $ 1,952 Three Months Ended 2021 2020 Hospital Operations $ 13 $ (9) Ambulatory Care 52 27 Conifer 16 16 Net income available to redeemable noncontrolling interests $ 81 $ 34

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of reconciliation between reported income tax expense (benefit) and income taxes calculated by the statutory federal income tax rate	The reconciliation between the amount of recorded income tax expense (benefit) and the amount calculated at the statutory federal tax rate is shown in the following table: Three Months Ended 2021 2020 Tax expense at statutory federal rate of 21% $ 56 $ 18 State income taxes, net of federal income tax benefit 13 5 Tax benefit attributable to noncontrolling interests (25) (14) Nontaxable gains — 3 Stock-based compensation (1) — Change in valuation allowance — (90) Other items 2 3 Income tax expense (benefit) $ 45 $ (75)

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation of numerators and denominators of our basic and diluted loss per common share	The following table is a reconciliation of the numerators and denominators of our basic and diluted earnings per common share calculations for our continuing operations for three months ended March 31, 2021 and 2020. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands. Net Income Available Weighted Per-Share Three Months Ended March 31, 2021 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 97 106,309 $ 0.91 Effect of dilutive stock options, restricted stock units and deferred compensation units — 1,756 (0.01) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 97 108,065 $ 0.90 Three Months Ended March 31, 2020 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 94 104,353 $ 0.90 Effect of dilutive stock options, restricted stock units and deferred compensation units — 1,380 (0.01) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 94 105,733 $ 0.89

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value assets on a nonrecurring basis	The following tables present information about assets measured at fair value at March 31, 2021 and December 31, 2020 and indicate the fair value hierarchy of the valuation techniques we utilized to determine such fair values: Total Quoted Prices Significant Other Significant At March 31, 2021: Long-lived assets held for sale $ 139 $ — $ 139 $ — At December 31, 2020: Long-lived assets held for sale $ 140 $ — $ 140 $ — Long-lived assets held and used 483 — 483 — $ 623 $ — $ 623 $ —

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [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 three months ended March 31, 2021 and 2020 are as follows: Three Months Ended 2021 2020 Current assets $ — $ 6 Property and equipment 18 8 Other intangible assets — 8 Goodwill 25 83 Other long-term assets, including previously held equity method investments 4 5 Current liabilities (7) (8) Long-term liabilities (2) (6) Redeemable noncontrolling interests in equity of consolidated subsidiaries (11) (30) Noncontrolling interests (2) (11) Cash paid, net of cash acquired (25) (55) Gains on consolidations $ — $ —

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
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: March 31, 2021 December 31, 2020 Assets: Hospital Operations $ 17,555 $ 18,048 Ambulatory Care 8,027 8,048 Conifer 972 1,010 Total $ 26,554 $ 27,106
Reconciliation of other significant reconciling items from segments to consolidated	Three Months Ended 2021 2020 Capital expenditures: Hospital Operations $ 110 $ 167 Ambulatory Care 8 11 Conifer 3 4 Total $ 121 $ 182 Net operating revenues: Hospital Operations total prior to inter-segment eliminations $ 3,947 $ 3,834 Ambulatory Care 646 490 Conifer Tenet 122 136 Other clients 188 196 Total Conifer revenues 310 332 Inter-segment eliminations (122) (136) Total $ 4,781 $ 4,520 Equity in earnings of unconsolidated affiliates: Hospital Operations $ 4 $ 2 Ambulatory Care 38 26 Total $ 42 $ 28 Adjusted EBITDA: Hospital Operations $ 434 $ 342 Ambulatory Care 257 156 Conifer 86 87 Total $ 777 $ 585 Three Months Ended 2021 2020 Depreciation and amortization: Hospital Operations $ 190 $ 175 Ambulatory Care 25 19 Conifer 9 9 Total $ 224 $ 203 Adjusted EBITDA $ 777 $ 585 Depreciation and amortization (224) (203) Impairment and restructuring charges, and acquisition-related costs (20) (55) Litigation and investigation costs (13) (2) Interest expense (240) (243) Loss from early extinguishment of debt (23) — Other non-operating income, net 10 1 Net gains on sales, consolidation and deconsolidation of facilities — 2 Income from continuing operations, before income taxes $ 267 $ 85

BASIS OF PRESENTATION - Descrip

BASIS OF PRESENTATION - Description of Business and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2021hospitaloutpatient_center
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of hospitals operated by subsidiaries | hospital	65
Number of healthcare facilities | outpatient_center	540

BASIS OF PRESENTATION - COVID-1

BASIS OF PRESENTATION - COVID-19 Pandemic (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Business Acquisition
Received cash payments	$ 59
Grant income	31	$ 0
Deferred revenue	18		$ 18
Contract liabilities	917		659
Contract liabilities – long-term	655		918
Accrued Compensation and Benefits
Business Acquisition
Deferred social security tax payments	130		130
Other Long-Term Liabilities
Business Acquisition
Deferred social security tax payments	130		130
Hospital Operations
Business Acquisition
Grant income	24
Ambulatory Care
Business Acquisition
Contract liabilities	123		93
Contract liabilities – long-term	44		83
Ambulatory Care | Grant
Business Acquisition
Grant income	7
Hospital Operations And Ambulatory Care
Business Acquisition
Contract liabilities	857		603
Contract liabilities – long-term	639		902
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Business Acquisition
Received cash payments	28
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Ambulatory Care
Business Acquisition
Grant income	6
Contract liabilities	66		51
Contract liabilities – long-term	$ 38		$ 62

BASIS OF PRESENTATION - Cash an

BASIS OF PRESENTATION - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Cash and Cash Equivalents
Cash and cash equivalents	$ 2,141		$ 2,446
Accrued property and equipment purchases for items received but not yet paid	42		93
Non-cancellable finance leases entered into	11	$ 15
Non-cancellable operating leases liability entered into	46	$ 54
Captive Insurance Subsidiaries
Cash and Cash Equivalents
Cash and cash equivalents	172		166
Accounts Payable
Cash and Cash Equivalents
Book overdrafts classified as accounts payable	171		154
Accrued property and equipment purchases for items received but not yet paid	$ 36		$ 85

BASIS OF PRESENTATION - Other I

BASIS OF PRESENTATION - Other Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Other intangible assets
Gross Carrying Amount	$ 2,921	$ 2,884
Accumulated Amortization	(1,331)	(1,284)
Net Book Value	1,590	1,600
Capitalized software costs
Other intangible assets
Gross Carrying Amount	1,836	1,800
Accumulated Amortization	(1,125)	(1,084)
Net Book Value	711	716
Trade names
Other intangible assets
Gross Carrying Amount	102	102
Accumulated Amortization	0	0
Net Book Value	102	102
Contracts
Other intangible assets
Gross Carrying Amount	872	872
Accumulated Amortization	(116)	(111)
Net Book Value	756	761
Other
Other intangible assets
Gross Carrying Amount	111	110
Accumulated Amortization	(90)	(89)
Net Book Value	$ 21	$ 21

BASIS OF PRESENTATION - Amortiz

BASIS OF PRESENTATION - Amortization of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Amortization of intangible assets
Total	$ 907
2021	128
2022	125
2023	112
2024	102
2025	87
Later Years	353
Amortization expense	$ 47	$ 41

BASIS OF PRESENTATION - Investm

BASIS OF PRESENTATION - Investments in Unconsolidated Affiliates (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)hospital	Mar. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Grant income	$ 31	$ 0
Investee results reflected (percent)	1
Net operating revenues	$ 4,781	4,520
Net income	222	159
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Net operating revenues	634	566
Net income	165	109
Net income available to the investees	$ 102	69
Ambulatory Care
Schedule of Equity Method Investments [Line Items]
Number of outpatient centers recorded not using equity method | hospital	291
Number of outpatient centers recorded using equity method | hospital	108
Number of outpatient centers | hospital	399
Net operating revenues	$ 646	$ 490
Ambulatory Care | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Grant income	$ 6

ACCOUNTS RECEIVABLE - Component

ACCOUNTS RECEIVABLE - Components (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Accounts receivable and allowance for doubtful accounts
Accounts receivable, net	$ 2,745	$ 2,690
Continuing Operations
Accounts receivable and allowance for doubtful accounts
Patient accounts receivable	2,544	2,499
Estimated future recoveries	156	156
Net cost reports and settlements receivable and valuation allowances	43	34
Accounts receivable, net	2,743	2,689
Discontinued operations
Accounts receivable and allowance for doubtful accounts
Accounts receivable, net	$ 2	$ 1

ACCOUNTS RECEIVABLE - Location

ACCOUNTS RECEIVABLE - Location of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Other current assets	$ 2,745	$ 2,690
Liabilities:
Other current liabilities	1,103	1,207
California's Provider Fee Program | Other Current Assets
ASSETS
Other current assets	255	378
California's Provider Fee Program | Other Assets
ASSETS
Investments and other assets	277	206
California's Provider Fee Program | Other Current Liabilities
Liabilities:
Other current liabilities	122	110
California's Provider Fee Program | Other Long-term Liabilities
Liabilities:
Other long-term liabilities	$ 52	$ 56

ACCOUNTS RECEIVABLE - Allowance

ACCOUNTS RECEIVABLE - Allowance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	$ 188	$ 196
Uninsured patients
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	168	156
Charity care patients
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	$ 20	$ 40

CONTRACT BALANCES - Hospital Op

CONTRACT BALANCES - Hospital Operations and Ambulatory Care Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of contract assets that meet the conditions for unconditional right to payment (percentage)	91.00%
Contract Liability - Current Advances from Medicare
Balance at beginning of period	$ 659
Balance at end of period	917
Contract Liability-Long-term Deferred Revenue
Balance at beginning of period	918
Balance at end of period	655
Hospital Operations and Other
Contract Assets
Balance at beginning of period	208	$ 170
Balance at end of period	180	151
Increase/(decrease)	(28)	(19)
Contract Liability - Current Advances from Medicare
Balance at beginning of period	510	0
Balance at end of period	734	0
Contract Liability-Long-term Deferred Revenue
Balance at beginning of period	819	0
Balance at end of period	595	0
Hospital Operations and Other | Short-term Contract with Customer
Contract Liability - Current Advances from Medicare
Increase/(decrease)	224	0
Contract Liability-Long-term Deferred Revenue
Increase/(decrease)	224	0
Hospital Operations and Other | Long-term Contract with Customer
Contract Liability - Current Advances from Medicare
Increase/(decrease)	(224)	0
Contract Liability-Long-term Deferred Revenue
Increase/(decrease)	(224)	$ 0
Ambulatory Care
Contract Liability - Current Advances from Medicare
Balance at beginning of period	93
Balance at end of period	123
Contract Liability-Long-term Deferred Revenue
Balance at beginning of period	83
Balance at end of period	44
Ambulatory Care | Short-term Contract with Customer
Contract Liability - Current Advances from Medicare
Increase/(decrease)	30
Contract Liability-Long-term Deferred Revenue
Increase/(decrease)	30
Ambulatory Care | Long-term Contract with Customer
Contract Liability - Current Advances from Medicare
Increase/(decrease)	(39)
Contract Liability-Long-term Deferred Revenue
Increase/(decrease)	$ (39)

CONTRACT BALANCES - Ambulatory

CONTRACT BALANCES - Ambulatory Care Segment (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 917	$ 659
Contract liabilities – long-term	655	918
Ambulatory Care
Disaggregation of Revenue [Line Items]
Contract liabilities	123	93
Contract liabilities – long-term	44	83
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Ambulatory Care
Disaggregation of Revenue [Line Items]
Contract liabilities	66	51
Contract liabilities – long-term	$ 38	$ 62

CONTRACT BALANCES - Conifer Seg

CONTRACT BALANCES - Conifer Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Contract Liability-Current Deferred Revenue
Balance at beginning of period	$ 659
Balance at end of period	917
Contract Liability-Long-term Deferred Revenue
Balance at beginning of period	918
Balance at end of period	655
Conifer
Receivables
Beginning balance	56	$ 26
Ending balance	56	23
Increase/(decrease)	0	(3)
Contract Asset-Unbilled Revenue
Beginning balance	20	11
Ending balance	14	7
Increase/(decrease)	(6)	(4)
Contract Liability-Current Deferred Revenue
Balance at beginning of period	56	61
Balance at end of period	60	61
Contract Liability-Long-term Deferred Revenue
Balance at beginning of period	16	18
Balance at end of period	16	17
Amount of revenue recognized included in current deferred revenue liability	49	54
Conifer | Short-term Contract with Customer
Contract Liability-Current Deferred Revenue
Increase/(decrease)	4	0
Contract Liability-Long-term Deferred Revenue
Increase/(decrease)	4	0
Conifer | Long-term Contract with Customer
Contract Liability-Current Deferred Revenue
Increase/(decrease)	0	(1)
Contract Liability-Long-term Deferred Revenue
Increase/(decrease)	$ 0	$ (1)

CONTRACT BALANCES - Contract Co

CONTRACT BALANCES - Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Amortization expense	$ 1	$ 1
Unamortized contract cost	$ 23		$ 24

ASSETS AND LIABILITIES HELD F_3

ASSETS AND LIABILITIES HELD FOR SALE - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2021	Mar. 31, 2021
MedPost and CareSpot Brands
Current Assets and Liabilities Held for Sale
Net assets held for sale		$ 125
Liabilities held for sale		68
Philadelphia Area | Subsequent Event
Current Assets and Liabilities Held for Sale
Sale of building	$ 16
Philadelphia Area | Disposal Group, Held-for-sale, Not Discontinued Operations
Current Assets and Liabilities Held for Sale
Net assets held for sale		$ 14

ASSETS AND LIABILITIES HELD F_4

ASSETS AND LIABILITIES HELD FOR SALE - Schedule of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current liabilities	$ (68)	$ (70)
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable	14
Other current assets	6
Investments and other long-term assets	41
Property and equipment	39
Goodwill	39
Current liabilities	(31)
Long-term liabilities	(37)
Net assets held for sale	$ 71

IMPAIRMENT AND RESTRUCTURING _2

IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment and restructuring charges, and acquisition-related costs	$ 20	$ 55
Restructuring charges	16	54
Acquisition costs	4	1
Employee severance costs	4	10
Other restructuring costs	$ 6	5
Contract and lease termination costs		1
Number of reportable segments | segment	3
Series of Individual Business Acquisitions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisition-related transaction costs	$ 4	1
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	$ 6	15
USPI Management Equity Plan
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges		$ 23

LONG-TERM DEBT - Schedule of De

LONG-TERM DEBT - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Finance leases, mortgage and other notes	$ 383	$ 403
Total long-term debt	15,235	15,719
Less current portion	137	145
Long-term debt, net of current portion	15,098	15,574
Senior Notes
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unamortized issue costs and note discounts	(162)	(176)
Senior Notes | 6.750% due 2023
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 1,872	1,872
Stated interest rate, percentage	6.75%
Senior Notes | 7.000% due 2025
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 0	478
Stated interest rate, percentage	7.00%
Senior Notes | 6.125% due 2028
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 2,500	2,500
Stated interest rate, percentage	6.125%
Senior Notes | 6.875% due 2031
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 362	362
Stated interest rate, percentage	6.875%
Senior Notes | 4.625% due 2024
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 1,870	1,870
Stated interest rate, percentage	4.625%
Senior Notes | 4.625% due 2024
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 600	600
Stated interest rate, percentage	4.625%
Senior Notes | 7.500% due 2025
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 700	700
Stated interest rate, percentage	7.50%
Senior Notes | 4.875% due 2026
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 2,100	2,100
Stated interest rate, percentage	4.875%
Senior Notes | 5.125% due 2027
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 1,500	1,500
Stated interest rate, percentage	5.125%
Senior Notes | 4.625% due 2028
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 600	600
Stated interest rate, percentage	4.625%
Senior Notes | 5.125% due 2025
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 1,410	1,410
Stated interest rate, percentage	5.125%
Senior Notes | 6.250% due 2027
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 1,500	$ 1,500
Stated interest rate, percentage	6.25%

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details)	3 Months Ended
	Mar. 31, 2021USD ($)day	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Jul. 29, 2020	Jul. 28, 2020	Dec. 31, 2019USD ($)
LONG-TERM DEBT AND LEASE OBLIGATIONS
Loss from early extinguishment of debt	$ 23,000,000	$ 0
Senior Notes | 7.000% due 2025
LONG-TERM DEBT AND LEASE OBLIGATIONS
Repurchased face amount	$ 478,000,000
Stated interest rate, percentage	7.00%
Debt instrument payment	$ 495,000,000
Loss from early extinguishment of debt	23,000,000
Carrying amount	0		$ 478,000,000
Credit Agreement
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity (up to)	1,900,000,000	$ 1,500,000,000
Line of credit facility, subfacility maximum available capacity	$ 200,000,000
Incremental period	364 days
Carrying amount	$ 0
Standby letters of credit outstanding	1,000,000
Amount available for borrowing under revolving credit facility	$ 1,900,000,000
Credit Agreement | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (percentage)	0.25%
Credit Agreement | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (percentage)	0.375%
Credit Agreement | Base rate | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	0.25%
Credit Agreement | Base rate | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	0.75%
Credit Agreement | LIBOR | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	1.25%
Credit Agreement | LIBOR | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	1.75%
Senior Secured Credit Facility Due 2024
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity (up to)	$ 200,000,000					$ 180,000,000
Standby letters of credit outstanding	$ 92,000,000
Maximum secured debt covenant ratio				6	4.25
Unused commitment fee after step down (up to) (percentage)	0.50%
Secured debt to EBITDA ratio	3
Issuance fee (percentage)	1.50%
Issuance fee, based on face amount (percentage)	0.125%
Senior Secured Credit Facility Due 2024 | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Number of business days after notice, for reimbursement of amount drawn | day	3

GUARANTEES (Details)

GUARANTEES (Details) $ in Millions	Mar. 31, 2021USD ($)
Income and Revenue Collection Guarantee
GUARANTEES
Maximum potential amount of future payments under guarantees	$ 122
Income and Revenue Collection Guarantee | Other Current Liabilities
GUARANTEES
Liability for the fair value of guarantees	98
Guaranteed Investees of Third Parties
GUARANTEES
Liability for the fair value of guarantees	81
Guaranteed Investees of Third Parties | Other Current Liabilities
GUARANTEES
Guarantee obligations for consolidated subsidiaries	$ 10

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation costs, pretax	$ 14	$ 13

EMPLOYEE BENEFIT PLANS - Stock

EMPLOYEE BENEFIT PLANS - Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Weighted Average Remaining Life
Unrecognized compensation costs related to stock options	$ 1
Stock Options
Options
Outstanding at the beginning of the period (in shares)	912,531
Exercised (in shares)	(293,581)	(27,167)
Outstanding at the end of the period (in shares)	618,950
Vested and expected to vest at the end of the period (in shares)	618,950
Exercisable at the end of the period (in shares)	391,748
Weighted Average Exercise Price Per Share
Outstanding at the beginning of the period (in dollars per share)	$ 22.51
Exercised (in dollars per share)	20.68
Outstanding at the end of the period (in dollars per share)	23.38
Vested and expected to vest at the end of the period (in dollars per share)	23.38
Exercisable at the end of the period (in dollars per share)	$ 19.96
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 18
Vested and expected to vest at the end of the period	18
Exercisable at the end of the period	$ 13
Weighted Average Remaining Life
Outstanding at the end of the period	6 years 10 months 24 days
Vested and expected to vest at the end of the period	6 years 10 months 24 days
Exercisable at the end of the period	6 years 6 months
Exercised (in shares)	293,581	27,167
Aggregate Intrinsic value of awards exercised	$ 10	$ 1
Period for recognition of unrecognized compensation costs	1 year

EMPLOYEE BENEFIT PLANS - Range

EMPLOYEE BENEFIT PLANS - Range of Exercise Prices (Details) - Stock Options	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Options Outstanding
Number of Options Outstanding (in shares) | shares	618,950
Weighted Average Remaining Contractual Life	6 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share)	$ 23.38
Options Exercisable
Number of Options Exercisable (in shares) | shares	391,748
Weighted Average Exercise Price (in dollars per share)	$ 19.96
$18.99 to $20.609
Options Outstanding
Number of Options Outstanding (in shares) | shares	391,748
Weighted Average Remaining Contractual Life	6 years 6 months
Weighted Average Exercise Price (in dollars per share)	$ 19.96
Options Exercisable
Number of Options Exercisable (in shares) | shares	391,748
Weighted Average Exercise Price (in dollars per share)	$ 19.96
$20.61 to $35.430
Options Outstanding
Number of Options Outstanding (in shares) | shares	227,202
Weighted Average Remaining Contractual Life	7 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$ 29.26
Options Exercisable
Number of Options Exercisable (in shares) | shares	0
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

EMPLOYEE BENEFIT PLANS - Restri

EMPLOYEE BENEFIT PLANS - Restricted Stock Units (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)quarter$ / sharesshares	Mar. 31, 2020quartershares
USPI Management Equity Plan
Restricted Stock Units
Unvested at the beginning of the period (in shares)	2,025,056
Vested (in shares)	(373,499)
Forfeited (in shares)	(47,112)
Unvested at the end of the period (in shares)	1,604,445
Weighted Average Grant Date Fair Value Per Unit
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 34.13
Vested (in dollars per share) | $ / shares	34.13
Forfeited (in dollars per share) | $ / shares	34.13
Unvested at the end of the period (in dollars per share) | $ / shares	$ 34.13
Restricted Stock Units
Restricted Stock Units
Unvested at the beginning of the period (in shares)	2,095,206
Granted (in shares)	708,577	1,423,953
Vested (in shares)	(304,688)
Forfeited (in shares)	(14,582)
Unvested at the end of the period (in shares)	2,484,513
Weighted Average Grant Date Fair Value Per Unit
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 25.87
Granted (in dollars per share) | $ / shares	54.94
Vested (in dollars per share) | $ / shares	26.12
Forfeited (in dollars per share) | $ / shares	27.74
Unvested at the end of the period (in dollars per share) | $ / shares	$ 34.26
Unrecognized compensation costs | $	$ 58
Period for recognition of unrecognized compensation costs	2 years
Restricted Stock Units | Minimum
Weighted Average Grant Date Fair Value Per Unit
Award vesting percentage		0.00%
Restricted Stock Units | Maximum
Weighted Average Grant Date Fair Value Per Unit
Award vesting percentage		200.00%
Restricted Stock Units | Director
Restricted Stock Units
Granted (in shares)	3,057
Restricted Stock Units | Senior Officer
Restricted Stock Units
Granted (in shares)		80,128
Restricted Stock Units | Time Based Vesting, Three Year Period from Grant Date
Restricted Stock Units
Granted (in shares)	260,071	493,929
Weighted Average Grant Date Fair Value Per Unit
Vesting period	3 years	3 years
Restricted Stock Units | Eight Quarter Vesting Period
Restricted Stock Units
Granted (in shares)	189,215
Weighted Average Grant Date Fair Value Per Unit
Vesting period, quarterly periods | quarter	8
Restricted Stock Units | One-year Anniversary Vesting Date
Restricted Stock Units
Granted (in shares)	14,192
Restricted Stock Units | Time Based Vesting | Director
Restricted Stock Units
Granted (in shares)	1,372
Restricted Stock Units | Performance based vesting on the third anniversary
Restricted Stock Units
Granted (in shares)	241,150
Restricted Stock Units | Performance Based Vesting | Minimum
Weighted Average Grant Date Fair Value Per Unit
Award vesting percentage	0.00%
Restricted Stock Units | Performance Based Vesting | Maximum
Weighted Average Grant Date Fair Value Per Unit
Award vesting percentage	200.00%
Restricted Stock Units | Time Based Vesting, Four Year Period From Grant Date
Restricted Stock Units
Granted (in shares)		104,167
Weighted Average Grant Date Fair Value Per Unit
Vesting period		4 years
Restricted Stock Units | Eleven Quarter Vesting Period
Restricted Stock Units
Granted (in shares)		359,713
Weighted Average Grant Date Fair Value Per Unit
Vesting period, quarterly periods | quarter		11
Restricted Stock Units | Performance Based Vesting Over A Four Year Period
Restricted Stock Units
Granted (in shares)		386,016
Additional Prorated Restricted Stock Units | Time Based Vesting | Director
Restricted Stock Units
Granted (in shares)	1,685

EMPLOYEE BENEFIT PLANS - Valuat

EMPLOYEE BENEFIT PLANS - Valuation of Restricted Stock Units (Details) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	71.76%	54.74%
Risk-free interest rate	0.22%	1.16%

EMPLOYEE BENEFIT PLANS - USPI M

EMPLOYEE BENEFIT PLANS - USPI Management Equity Plan (Details) - Restricted Non-Voting Common Stock - USPI Management Equity Plan	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2020
Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		20.00%
Vesting period	3 years
Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		40.00%

EMPLOYEE BENEFIT PLANS - Employ

EMPLOYEE BENEFIT PLANS - Employee Retirement Plans (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)plan	Mar. 31, 2020USD ($)plan
Employee Retirement Plans
Number of frozen plans | plan	1	1
Salaries, Wages and Benefits Expense
Employee Retirement Plans
Service costs (less than in current year)	$ 1	$ 1
Other Non-operating Income (Expense), Net
Employee Retirement Plans
Other components	$ (1)	$ 2

EQUITY - Changes in Shareholder

EQUITY - Changes in Shareholders' Equity (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Changes in Shareholders' Equity
Balances, beginning of period	$ 937	$ 437
Net income	141	125
Distributions paid to noncontrolling interests	(61)	(40)
Other comprehensive income (loss)	(1)	1
Accretion of redeemable noncontrolling interests	(3)	(1)
Purchases (sales) of businesses and noncontrolling interests, net	(9)	(15)
Stock-based compensation expense and issuance of common stock	12	10
Balances, end of period	$ 1,016	503
Cumulative Effect, Period of Adoption, Adjustment
Changes in Shareholders' Equity
Balances, beginning of period		$ (14)
Common Stock
Changes in Shareholders' Equity
Balances, beginning of period (in shares)	106,070	104,197
Balances, beginning of period	$ 7	$ 7
Stock-based compensation expense and issuance of common stock (in shares)	617	331
Stock-based compensation expense and issuance of common stock	$ 1
Balances, end of period (in shares)	106,687	104,528
Balances, end of period	$ 8	$ 7
Additional Paid-In Capital
Changes in Shareholders' Equity
Balances, beginning of period	4,844	4,760
Accretion of redeemable noncontrolling interests	(3)	(1)
Purchases (sales) of businesses and noncontrolling interests, net	(10)	(30)
Stock-based compensation expense and issuance of common stock	10	10
Balances, end of period	4,841	4,739
Accumulated Other Comprehensive Loss
Changes in Shareholders' Equity
Balances, beginning of period	(281)	(257)
Other comprehensive income (loss)	(1)	1
Balances, end of period	(282)	(256)
Accumulated Deficit
Changes in Shareholders' Equity
Balances, beginning of period	(2,128)	(2,513)
Net income	97	93
Balances, end of period	(2,031)	(2,434)
Accumulated Deficit | Cumulative Effect, Period of Adoption, Adjustment
Changes in Shareholders' Equity
Balances, beginning of period		(14)
Treasury Stock
Changes in Shareholders' Equity
Balances, beginning of period	(2,414)	(2,414)
Stock-based compensation expense and issuance of common stock	1
Balances, end of period	(2,413)	(2,414)
Noncontrolling Interests
Changes in Shareholders' Equity
Balances, beginning of period	909	854
Net income	44	32
Distributions paid to noncontrolling interests	(61)	(40)
Purchases (sales) of businesses and noncontrolling interests, net	1	15
Balances, end of period	$ 893	$ 861

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	$ 1,016	$ 503	$ 937	$ 437
Net income	141	125
Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	893	861	909	$ 854
Net income	44	32
Noncontrolling Interests | Hospital Operations
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	113		116
Net income	4	2
Noncontrolling Interests | Ambulatory Care
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	780		$ 793
Net income	$ 40	$ 30

NET OPERATING REVENUES - Source

NET OPERATING REVENUES - Sources of Net Operating Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 4,781	$ 4,520
Restatement Adjustment
Disaggregation of Revenue [Line Items]
Net operating revenues	5	4
Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	646	490
Conifer
Disaggregation of Revenue [Line Items]
Net operating revenues	310	332
Operating Segments | Hospital Operations
Disaggregation of Revenue [Line Items]
Net operating revenues	3,947	3,834
Operating Segments | Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	646	490
Operating Segments | Conifer
Disaggregation of Revenue [Line Items]
Net operating revenues	310	332
Inter-segment eliminations
Disaggregation of Revenue [Line Items]
Net operating revenues	(122)	(136)
Continuing Operations
Disaggregation of Revenue [Line Items]
Net operating revenues	4,781	4,520
Continuing Operations | Operating Segments | Hospital Operations
Disaggregation of Revenue [Line Items]
Net operating revenues	3,947	3,834
Continuing Operations | Operating Segments | Hospital Operations | Other Revenues
Disaggregation of Revenue [Line Items]
Net operating revenues	297	294
Continuing Operations | Operating Segments | Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	646	490
Continuing Operations | Operating Segments | Conifer
Disaggregation of Revenue [Line Items]
Net operating revenues	310	332
Continuing Operations | Inter-segment eliminations
Disaggregation of Revenue [Line Items]
Net operating revenues	(122)	(136)
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Medicare
Disaggregation of Revenue [Line Items]
Net operating revenues	688	705
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Medicaid
Disaggregation of Revenue [Line Items]
Net operating revenues	259	281
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Managed care
Disaggregation of Revenue [Line Items]
Net operating revenues	2,480	2,321
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Uninsured
Disaggregation of Revenue [Line Items]
Net operating revenues	47	40
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Indemnity and other
Disaggregation of Revenue [Line Items]
Net operating revenues	176	193
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Total
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 3,650	$ 3,540

NET OPERATING REVENUES - Ambula

NET OPERATING REVENUES - Ambulatory Care (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 4,781	$ 4,520
Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	646	490
Ambulatory Care | Net patient service revenues
Disaggregation of Revenue [Line Items]
Net operating revenues	619	464
Ambulatory Care | Management fees
Disaggregation of Revenue [Line Items]
Net operating revenues	22	21
Ambulatory Care | Revenue from other sources
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 5	$ 5

NET OPERATING REVENUES - Conife

NET OPERATING REVENUES - Conifer (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 4,781	$ 4,520
Conifer
Disaggregation of Revenue [Line Items]
Net operating revenues	310	332
Conifer | Revenue Cycle Services | Tenet
Disaggregation of Revenue [Line Items]
Net operating revenues	118	134
Conifer | Revenue Cycle Services | Non-Tenet
Disaggregation of Revenue [Line Items]
Net operating revenues	169	176
Conifer | Other Services | Tenet
Disaggregation of Revenue [Line Items]
Net operating revenues	4	2
Conifer | Other Services | Non-Tenet
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 19	$ 20
Conifer | Revenue from other sources
Disaggregation of Revenue [Line Items]
Net operating revenues, percentage of total	7.00%	7.00%

NET OPERATING REVENUES - Perfor

NET OPERATING REVENUES - Performance Obligations (Details) - Conifer $ in Millions	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 6,602
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 454
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 603
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 603
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 549
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
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	$ 549
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	$ 3,844
Revenue, remaining performance obligation, expected timing of satisfaction, period

PROPERTY AND PROFESSIONAL AND_2

PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE - Property Insurance (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Insurance coverage
Property insurance, annual coverage limit		$ 850
Floods
Insurance coverage
Property insurance, maximum coverage per incident		100
Earthquake
Insurance coverage
Property insurance, maximum coverage per incident		200
Property insurance, deductible		40
Windstorms
Insurance coverage
Property insurance, maximum coverage per incident		200
Fire and other perils
Insurance coverage
Property insurance, maximum coverage per incident		$ 850
Flood, earthquake and windstorm
Insurance coverage
Insurance deductible as a percent		5.00%
Flood and windstorm
Insurance coverage
Property insurance, deductible		$ 25
New Madrid Fault Earthquakes
Insurance coverage
Insurance deductible as a percent		2.00%
Property insurance, deductible		$ 25
Other Catastrophic Events
Insurance coverage
Property insurance, deductible		$ 1
Scenario, Forecast
Insurance coverage
Property insurance, annual coverage limit	$ 850
Scenario, Forecast | Floods
Insurance coverage
Property insurance, maximum coverage per incident	100
Scenario, Forecast | Earthquake
Insurance coverage
Property insurance, maximum coverage per incident	200
Property insurance, deductible	40
Scenario, Forecast | Windstorms
Insurance coverage
Property insurance, maximum coverage per incident	200
Scenario, Forecast | Fire and other perils
Insurance coverage
Property insurance, maximum coverage per incident	$ 850
Scenario, Forecast | Flood, earthquake and windstorm
Insurance coverage
Insurance deductible as a percent	5.00%
Scenario, Forecast | Flood and windstorm
Insurance coverage
Property insurance, deductible	$ 25
Scenario, Forecast | New Madrid Fault Earthquakes
Insurance coverage
Insurance deductible as a percent	2.00%
Property insurance, deductible	$ 25
Scenario, Forecast | Other Catastrophic Events
Insurance coverage
Property insurance, deductible	$ 1

PROPERTY AND PROFESSIONAL AND_3

PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE - Professional and General Liability Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Other Operating Expense, Net
Insurance coverage
Malpractice expense	$ 91	$ 73
Professional and General Liability Reserves
Insurance coverage
Self insurance reserve	$ 1,026		$ 978

CLAIMS AND LAWSUITS - Narrative

CLAIMS AND LAWSUITS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Loss Contingencies
Settlement	$ 13	$ 2
Pending Litigation
Loss Contingencies
Settlement	$ 13	$ 2

CLAIMS AND LAWSUITS - Reconcili

CLAIMS AND LAWSUITS - Reconciliations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Loss Contingency Accrual [Roll Forward]
Litigation reserve, balance at beginning of period	$ 26	$ 86
Litigation and investigation costs	13	2
Cash Payments	(15)	(2)
Litigation reserve, balance at end of period	$ 24	$ 86

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Narrative (Details)	Mar. 31, 2021	Apr. 01, 2017
United Surgical Partners International | Put Option
Redeemable Noncontrolling Interest [Line Items]
Equity necessary for joint venture	5.00%
Baylor University Medical Center | Put Option | Maximum
Redeemable Noncontrolling Interest [Line Items]
Equity necessary for joint venture	33.30%
Purchasable equity In joint venture, percentage of total shares (percentage)		0.3333
Baylor University Medical Center | Call Option | Maximum
Redeemable Noncontrolling Interest [Line Items]
Purchasable equity In joint venture, percentage of total shares (percentage)	0.333

REDEEMABLE NONCONTROLLING INT_4

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Changes in Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Distributions paid to noncontrolling interests	$ (61)	$ (40)
Redeemable Noncontrolling Interests
Increase (Decrease) in Temporary Equity [Roll Forward]
Balances at beginning of period	1,952	1,506
Net income	81	34
Distributions paid to noncontrolling interests	(58)	(36)
Accretion of redeemable noncontrolling interests	3	1
Purchases and sales of businesses and noncontrolling interests, net	14	21
Balances at end of period	$ 1,992	$ 1,526

REDEEMABLE NONCONTROLLING INT_5

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Segment Details (Details) - Redeemable Noncontrolling Interests - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	$ 1,992	$ 1,526	$ 1,952	$ 1,506
Net income available to redeemable noncontrolling interests	81	34
Hospital Operations
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	280		267
Net income available to redeemable noncontrolling interests	13	(9)
Ambulatory Care
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	1,284		1,273
Net income available to redeemable noncontrolling interests	52	27
Conifer
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	428		$ 412
Net income available to redeemable noncontrolling interests	$ 16	$ 16

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Taxes
Income tax benefit (expense)	$ (45,000,000)	$ 75,000,000
Continued operations pre-tax earnings	267,000,000	85,000,000
Current income tax benefit		91,000,000
Increase (decrease) in estimated liabilities for uncertain tax positions, net of related deferred tax effects	0
Unrecognized tax benefits	31,000,000
Unrecognized tax benefits which, if recognized, would impact effective tax rate	29,000,000
Interest and penalties related to accrued liabilities for uncertain tax positions, recognized	0
Unrecognized federal and state tax benefits and reserves for interest and penalties, which may decrease in the next 12 months	0
Continuing Operations
Income Taxes
Income tax benefit (expense)	$ (45,000,000)	$ 75,000,000

INCOME TAXES - Federal Tax Reco

INCOME TAXES - Federal Tax Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
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%	$ 56	$ 18
State income taxes, net of federal income tax benefit	13	5
Tax benefit attributable to noncontrolling interests	(25)	(14)
Nontaxable gains	0	3
Stock-based compensation	(1)	0
Change in valuation allowance	0	(90)
Other items	2	3
Income tax expense (benefit)	$ 45	$ (75)

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Income Available to Common Shareholders (Numerator)
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share	$ 97	$ 94
Net income attributable to Tenet Healthcare Corporation common shareholders for diluted earnings per share	$ 97	$ 94
Weighted Average Shares (Denominator)
Net income attributable to Tenet Healthcare Corporation common shareholders for basic earnings per share (in shares)	106,309	104,353
Effect of dilutive stock options, restricted stock units and deferred compensation units (in shares)	1,756	1,380
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share (in shares)	108,065	105,733
Per-Share Amount
Net income attributable to Tenet Healthcare Corporation common shareholders for basic earnings per share (in dollars per share)	$ 0.91	$ 0.90
Effect of dilutive stock options, restricted stock units and deferred compensation units (in dollars per share)	(0.01)	(0.01)
Net income attributable to Tenet Healthcare Corporation common shareholders for diluted earnings per share (in dollars per share)	$ 0.90	$ 0.89

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair value of assets and liabilities measured on recurring basis
Total		$ 623
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair value of assets and liabilities measured on recurring basis
Total		0
Significant Other Observable Inputs (Level 2)
Fair value of assets and liabilities measured on recurring basis
Total		623
Significant Unobservable Inputs (Level 3)
Fair value of assets and liabilities measured on recurring basis
Total		0
Nonrecurring
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	$ 139	140
Long-lived assets held and used		483
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	0
Long-lived assets held and used		0
Nonrecurring | Significant Other Observable Inputs (Level 2)
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	139	140
Long-lived assets held and used		483
Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	$ 0	0
Long-lived assets held and used		$ 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)	104.40%	104.50%

ACQUISITIONS - Preliminary purc

ACQUISITIONS - Preliminary purchase price allocations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Final purchase price allocations
Goodwill	$ 8,799		$ 8,808
Series of Individual Business Acquisitions
Final purchase price allocations
Current assets	0	$ 6
Property and equipment	18	8
Other intangible assets	0	8
Goodwill	25	83
Other long-term assets, including previously held equity method investments	4	5
Current liabilities	(7)	(8)
Long-term liabilities	(2)	(6)
Redeemable noncontrolling interests in equity of consolidated subsidiaries	(11)	(30)
Noncontrolling interests	(2)	(11)
Cash paid, net of cash acquired	(25)	(55)
Gains on consolidations	$ 0	$ 0

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 8,799		$ 8,808
SurgeCenter Development
Business Acquisition [Line Items]
Goodwill	25	$ 83
Transaction costs related to prospective and closed acquisitions	$ 4	$ 1

SEGMENT INFORMATION - General I

SEGMENT INFORMATION - General Information and Customer Concentration (Details)	3 Months Ended
	Mar. 31, 2021hospitalstate
Segment Reporting Information [Line Items]
Number of hospitals operated by subsidiaries	65
Conifer Health Solutions, LLC
Segment Reporting Information [Line Items]
Ownership percentage by parent (percent)	76.00%
Hospital Operations
Segment Reporting Information [Line Items]
Number of hospitals operated by subsidiaries	65
Number of states where operations occur | state	9
Hospital Operations | United Surgical Partners International | Assets, Total
Segment Reporting Information [Line Items]
Concentration risk percentage (less than)	1.00%
Ambulatory Care | United Surgical Partners International
Segment Reporting Information [Line Items]
Ownership percentage by parent (percent)	95.00%
Ambulatory Care | United Surgical Partners International
Segment Reporting Information [Line Items]
Number of states where operations occur | state	30
Number of ambulatory surgery centers	312
Number of surgical hospitals	24
Number of diagnostic imaging centers	24
Number of urgent care centers	39
Conifer | Minimum
Segment Reporting Information [Line Items]
Number of hospitals to which segment of the entity provides revenue cycle services	640

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciling Items (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Assets:	$ 26,554		$ 27,106
Capital expenditures:	121	$ 182
Net operating revenues	4,781	4,520
Equity in earnings of unconsolidated affiliates:	42	28
Adjusted EBITDA:	777	585
Depreciation and amortization:	224	203
Adjusted Segment EBITDA [Abstract]
Adjusted EBITDA	777	585
Depreciation and amortization	(224)	(203)
Impairment and restructuring charges, and acquisition-related costs	(20)	(55)
Litigation and investigation costs	(13)	(2)
Interest expense	(240)	(243)
Loss from early extinguishment of debt	(23)	0
Other non-operating income, net	10	1
Net gains on sales, consolidation and deconsolidation of facilities	0	2
Income from continuing operations, before income taxes	267	85
Inter-segment eliminations
Segment Reporting Information [Line Items]
Net operating revenues	(122)	(136)
Hospital Operations
Segment Reporting Information [Line Items]
Assets:	17,555		18,048
Capital expenditures:	110	167
Equity in earnings of unconsolidated affiliates:	4	2
Adjusted EBITDA:	434	342
Depreciation and amortization:	190	175
Adjusted Segment EBITDA [Abstract]
Adjusted EBITDA	434	342
Depreciation and amortization	(190)	(175)
Hospital Operations | Operating Segments
Segment Reporting Information [Line Items]
Net operating revenues	3,947	3,834
Ambulatory Care
Segment Reporting Information [Line Items]
Assets:	8,027		8,048
Capital expenditures:	8	11
Net operating revenues	646	490
Equity in earnings of unconsolidated affiliates:	38	26
Adjusted EBITDA:	257	156
Depreciation and amortization:	25	19
Adjusted Segment EBITDA [Abstract]
Adjusted EBITDA	257	156
Depreciation and amortization	(25)	(19)
Ambulatory Care | Operating Segments
Segment Reporting Information [Line Items]
Net operating revenues	646	490
Conifer
Segment Reporting Information [Line Items]
Assets:	972		$ 1,010
Capital expenditures:	3	4
Net operating revenues	310	332
Adjusted EBITDA:	86	87
Depreciation and amortization:	9	9
Adjusted Segment EBITDA [Abstract]
Adjusted EBITDA	86	87
Depreciation and amortization	(9)	(9)
Conifer | Operating Segments
Segment Reporting Information [Line Items]
Net operating revenues	310	332
Conifer | Tenet | Operating Segments
Segment Reporting Information [Line Items]
Net operating revenues	122	136
Conifer | Other clients | Operating Segments
Segment Reporting Information [Line Items]
Net operating revenues	$ 188	$ 196

SUBSEQUENT EVENTS - (Details)

SUBSEQUENT EVENTS - (Details) - USD ($)	Apr. 30, 2021	Mar. 31, 2021	Mar. 31, 2020
Subsequent Event [Line Items]
Proceeds from sales of facilities and other assets		$ 13,000,000	$ 11,000,000
Credit Agreement
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity (up to)		$ 1,900,000,000	$ 1,500,000,000
Credit Agreement | Minimum | Base rate
Subsequent Event [Line Items]
Margin on variable rate (percentage)		0.25%
Credit Agreement | Minimum | LIBOR
Subsequent Event [Line Items]
Margin on variable rate (percentage)		1.25%
Credit Agreement | Maximum | Base rate
Subsequent Event [Line Items]
Margin on variable rate (percentage)		0.75%
Credit Agreement | Maximum | LIBOR
Subsequent Event [Line Items]
Margin on variable rate (percentage)		1.75%
Subsequent Event
Subsequent Event [Line Items]
Proceeds from sales of facilities and other assets	$ 80,000,000