Tenet Healthcare (THC) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Thousands	9 Months Ended
	Sep. 30, 2024	Oct. 23, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-7293
Entity Registrant Name	TENET HEALTHCARE CORP
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	95-2557091
Entity Address, Address Line One	14201 Dallas Parkway
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75254
City Area Code	469
Local Phone Number	893-2200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		95,097
Entity Central Index Key	0000070318
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common stock, $0.05 par value | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.05 par value
Trading Symbol	THC
Security Exchange Name	NYSE
6.875% Senior Notes due 2031 | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	6.875% Senior Notes due 2031
Trading Symbol	THC31
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,094	$ 1,228
Accounts receivable	2,598	2,914
Inventories of supplies, at cost	356	411
Assets held for sale	20	775
Other current assets	1,691	1,839
Total current assets	8,759	7,167
Investments and other assets	3,064	3,157
Deferred income taxes	36	77
Property and equipment, at cost, less accumulated depreciation and amortization ($5,714 at September 30, 2024 and $6,478 at December 31, 2023)	5,552	6,236
Goodwill	10,588	10,307
Other intangible assets, at cost, less accumulated amortization ($1,322 at September 30, 2024 and $1,447 at December 31, 2023)	1,373	1,368
Total assets	29,372	28,312
Current liabilities:
Current portion of long-term debt	95	120
Accounts payable	1,265	1,408
Accrued compensation and benefits	879	930
Professional and general liability reserves	286	254
Accrued interest payable	248	200
Liabilities held for sale	12	69
Income tax payable	826	23
Other current liabilities	1,927	1,756
Total current liabilities	5,538	4,760
Long-term debt, net of current portion	12,776	14,882
Professional and general liability reserves	855	792
Defined benefit plan obligations	308	335
Deferred income taxes	260	326
Other long-term liabilities	1,560	1,709
Total liabilities	21,297	22,804
Commitments and contingencies
Redeemable noncontrolling interests in equity of consolidated subsidiaries	2,649	2,391
Shareholders’ equity:
Common stock, $0.05 par value; authorized 262,500 shares; 157,982 shares issued at September 30, 2024 and 157,271 shares issued at December 31, 2023	8	8
Additional paid-in capital	4,849	4,834
Accumulated other comprehensive loss	(175)	(181)
Retained earnings (accumulated deficit)	2,690	(192)
Common stock in treasury, at cost, 62,899 shares at September 30, 2024 and 57,321 shares at December 31, 2023	(3,538)	(2,861)
Total shareholders’ equity	3,834	1,608
Noncontrolling interests	1,592	1,509
Total equity	5,426	3,117
Total liabilities and equity	$ 29,372	$ 28,312

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 5,714	$ 6,478
Accumulated amortization	$ 1,322	$ 1,447
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, authorized shares (in shares)	262,500	262,500
Common stock, shares issued (in shares)	157,982	157,271
Common stock in treasury (in shares)	62,899	57,321

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net operating revenues	$ 5,122	$ 5,066	$ 15,593	$ 15,169
Grant income	4	3	9	14
Equity in earnings of unconsolidated affiliates	62	51	182	155
Operating expenses:
Salaries, wages and benefits	2,218	2,288	6,707	6,831
Supplies	881	877	2,717	2,659
Other operating expenses, net	1,111	1,101	3,413	3,319
Depreciation and amortization	209	224	625	654
Impairment and restructuring charges, and acquisition-related costs	19	47	75	84
Litigation and investigation costs	9	14	18	28
Net losses (gains) on sales, consolidation and deconsolidation of facilities	(348)	1	(2,906)	(12)
Operating income	1,089	568	5,135	1,775
Interest expense	(202)	(227)	(623)	(674)
Other non-operating income, net	35	4	89	8
Loss from early extinguishment of debt	0	0	(8)	(11)
Income before income taxes	922	345	4,593	1,098
Income tax expense	(241)	(79)	(1,101)	(243)
Net income	681	266	3,492	855
Less: Net income available to noncontrolling interests	209	165	610	488
Net income available to Tenet Healthcare Corporation common shareholders	$ 472	$ 101	$ 2,882	$ 367
Earnings per share available to Tenet Healthcare Corporation common shareholders:
Basic earnings per share ((in dollars per share)	$ 4.93	$ 0.99	$ 29.56	$ 3.60
Diluted earnings per share (in dollars per share)	$ 4.89	$ 0.94	$ 29.27	$ 3.41
Weighted average shares and dilutive securities outstanding (in thousands):
Basic (in shares)	95,665	101,544	97,505	101,869
Diluted (in shares)	96,652	104,425	98,518	105,021

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 681	$ 266	$ 3,492	$ 855
Other comprehensive income:
Amortization of net actuarial loss included in other non-operating income, net	2	1	6	5
Unrealized gain on debt securities held as available-for-sale	2	0	2	0
Foreign currency translation adjustments and other	(1)	1	0	1
Other comprehensive income before income taxes	3	2	8	6
Income tax expense related to items of other comprehensive income	(1)	0	(2)	(1)
Total other comprehensive income, net of tax	2	2	6	5
Comprehensive net income	683	268	3,498	860
Less: Comprehensive income available to noncontrolling interests	209	165	610	488
Comprehensive income available to Tenet Healthcare Corporation common shareholders	$ 474	$ 103	$ 2,888	$ 372

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Net income	$ 3,492	$ 855
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	625	654
Deferred income tax expense (benefit)	(29)	75
Stock-based compensation expense	52	48
Impairment and restructuring charges, and acquisition-related costs	75	84
Litigation and investigation costs	18	28
Net gains on sales, consolidation and deconsolidation of facilities	(2,906)	(12)
Loss from early extinguishment of debt	8	11
Equity in earnings of unconsolidated affiliates, net of distributions received	(9)	5
Amortization of debt discount and debt issuance costs	21	25
Net gains from the sale of investments and long-lived assets	(2)	(25)
Other items, net	(3)	(1)
Changes in cash from operating assets and liabilities:
Accounts receivable	183	31
Inventories and other current assets	10	(49)
Income taxes	821	(46)
Accounts payable, accrued expenses and other current liabilities	123	(38)
Other long-term liabilities	18	10
Payments for restructuring charges, acquisition-related costs, and litigation costs and settlements	(119)	(105)
Net cash provided by operating activities	2,378	1,550
Cash flows from investing activities:
Purchases of property and equipment	(601)	(543)
Purchases of businesses or joint venture interests, net of cash acquired	(524)	(110)
Proceeds from sales of facilities and other assets	4,965	38
Proceeds from sales of marketable securities and long-term investments	25	40
Purchases of marketable securities and long-term investments	(46)	(54)
Other items, net	(18)	(7)
Net cash provided by (used in) investing activities	3,801	(636)
Cash flows from financing activities:
Repayments of borrowings	(2,212)	(1,478)
Proceeds from borrowings	16	1,368
Repurchases of common stock	(672)	(90)
Debt issuance costs	0	(16)
Distributions paid to noncontrolling interests	(496)	(425)
Proceeds from the sale of noncontrolling interests	13	37
Purchases of noncontrolling interests	(127)	(127)
Advances from managed care payers	342	0
Repayments of advances from managed care payers	(160)	0
Other items, net	(17)	13
Net cash used in financing activities	(3,313)	(718)
Net increase in cash and cash equivalents	2,866	196
Cash and cash equivalents at beginning of period	1,228	858
Cash and cash equivalents at end of period	4,094	1,054
Supplemental disclosures:
Interest paid, net of capitalized interest	(555)	(589)
Income tax payments, net	$ (308)	$ (212)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Description of Business and Basis of Presentation Tenet Healthcare Corporation (together with our subsidiaries, referred to herein as “Tenet,” “we” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Prior to December 31, 2023, our business was organized into three separate reporting segments: Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended December 31, 2023, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (“Hospital Operations”). The results of the revenue cycle management and value-based care services we provide to hospitals, health systems, physician practices, employers and other clients previously reported under our Conifer segment are now combined with our Hospital Operations segment. See below for additional discussion of this change. Our expansive, nationwide care delivery network now consists of our Hospital Operations and Ambulatory Care segments. As of September 30, 2024, our Hospital Operations segment was comprised of 49 acute care and specialty hospitals, a network of employed physicians and 142 outpatient facilities, including imaging centers, urgent care centers (each, a “UCC”), ancillary emergency facilities and micro‑hospitals. Our Ambulatory Care segment is comprised of the operations of our subsidiary USPI Holding Company, Inc. (“USPI”), which held indirect ownership interests in 520 ambulatory surgery centers and 24 surgical hospitals at September 30, 2024. USPI held noncontrolling interests in 161 of these facilities, which are recorded using the equity method of accounting. In addition, we operate a Global Business Center (“GBC”) in Manila, Philippines. This quarterly report supplements our Annual Report on Form 10‑K for the year ended December 31, 2023 (“Annual Report”). As permitted by the Securities and Exchange Commission for interim reporting, we have omitted certain notes and disclosures that substantially duplicate those in our Annual Report. For further information, refer to the audited Consolidated Financial Statements and notes included in our Annual Report. Unless otherwise indicated, all dollar amounts presented in our Condensed Consolidated Financial Statements and these accompanying notes are expressed in millions (except per‑share amounts), and all share amounts are expressed in thousands. Changes to prior-year presentation— As noted above, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (Hospital Operations) during the three months ended December 31, 2023. This change was made to reflect updates to the organizational and management structure of our Conifer and Hospital Operations and other segments. All prior‑period data presented in this report has been adjusted to conform to our new reporting segment structure. As of December 31, 2023, our business was organized into two reporting segments: • our Hospital Operations segment, which includes (1) our acute care and specialty hospitals, physician practices, imaging centers, UCCs, ancillary emergency facilities and micro‑hospitals, and (2) the revenue cycle management and value‑based care services we provide to hospitals, health systems, physician practices, employers and other clients through our Conifer Health Solutions, LLC joint venture; and • our Ambulatory Care segment, which is comprised of the ambulatory surgery center and surgical hospital operations of our USPI subsidiary. In addition, due to its increased significance, income tax payable is now presented separately from other current liabilities in the accompanying Condensed Consolidated Balance Sheets. Although our Condensed Consolidated Financial Statements and these related notes are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. The financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from the amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public. Operating results for the three and nine‑month periods ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: the impact of the demand for, and availability of, qualified medical personnel on compensation costs; overall revenue and cost trends, particularly the timing and magnitude of price changes; fluctuations in contractual allowances and cost report settlements and valuation allowances; managed care contract negotiations, settlements or terminations and payer consolidations; trends in patient accounts receivable collectability and associated implicit price concessions; the impact of cybersecurity incidents on our operations; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; impairment of long‑lived assets and goodwill; restructuring charges; losses, costs and insurance recoveries related to cybersecurity incidents, natural disasters and weather‑related occurrences; the future course and impact of COVID‑19, or the potential emergence and effects of a future pandemic, epidemic or outbreak of an infectious disease, on our operations, financial condition and liquidity; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; gains (losses) on sales, consolidation and deconsolidation of facilities; income tax rates and deferred tax asset valuation allowance activity; changes in estimates of accruals for annual incentive compensation; the timing and amounts of stock option and restricted stock unit grants to employees and directors; gains (losses) from early extinguishment of debt; and changes in occupancy levels and patient volumes. Our hospitals and outpatient facilities are subject to various factors that affect our service mix, revenue mix and patient volumes and, thereby, impact our net patient service revenues and results of operations. These factors include, among others: changes in federal, state and local healthcare and business regulations; changes in general economic conditions nationally and regionally, including inflation and other factors; the number of uninsured and underinsured individuals in local communities treated at our facilities; disease hotspots and seasonal cycles of illness; climate and weather conditions; physician recruitment, satisfaction, retention and attrition; advances in technology and treatments that reduce length of stay or permit procedures to be performed in an outpatient rather than inpatient setting; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; performance data on quality measures and patient satisfaction, as well as standard charges for services; any unfavorable publicity about us, or our joint venture partners, that impacts our relationships with physicians and patients; and changing consumer behavior, including with respect to the timing of elective procedures. These considerations apply to year‑to‑year comparisons as well. Cash and Cash Equivalents We treat highly liquid investments with original maturities of three months or less as cash equivalents. Cash and cash equivalents were $4.094 billion and $1.228 billion at September 30, 2024 and December 31, 2023, respectively. At September 30, 2024 and December 31, 2023, our book overdrafts were $185 million and $187 million, respectively, which were classified as accounts payable. Also at September 30, 2024 and December 31, 2023, $110 million and $100 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our insurance‑related subsidiaries. In addition, at September 30, 2024 and December 31, 2023, we had $73 million and $154 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $55 million and $141 million, respectively, were included in accounts payable. During the nine months ended September 30, 2024 and 2023, we recorded right‑of‑use assets related to non‑cancellable finance leases of $51 million and $42 million, respectively, and related to non‑cancellable operating leases of $187 million and $116 million, respectively. Goodwill The following tables provide information on changes in the carrying amount of goodwill for each of our segments: Nine Months Ended 2024 2023 Hospital Operations: Goodwill at beginning of period, net of accumulated impairment losses $ 3,119 $ 3,411 Goodwill acquired during the year, net of purchase price allocation adjustments 42 — Goodwill related to assets held for sale and disposed (464) (30) Goodwill at end of period, net of accumulated impairment losses $ 2,697 $ 3,381 Nine Months Ended 2024 2023 Ambulatory Care: Goodwill at beginning of period $ 7,188 $ 6,712 Goodwill acquired during the year, net of purchase price allocation adjustments 824 326 Goodwill related to assets held for sale and disposed or deconsolidated facilities (121) (4) Goodwill at end of period $ 7,891 $ 7,034 Other Intangible Assets The following table provides information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets: Gross Accumulated Net Book Value At September 30, 2024: Other intangible assets with finite useful lives: Capitalized software costs $ 1,505 $ (1,112) $ 393 Contracts 313 (131) 182 Other 105 (79) 26 Other intangible assets with finite lives 1,923 (1,322) 601 Other intangible assets with indefinite useful lives: Trade names 105 — 105 Contracts 663 — 663 Other 4 — 4 Other intangible assets with indefinite lives 772 — 772 Other intangible assets, net $ 2,695 $ (1,322) $ 1,373 At December 31, 2023: Other intangible assets with finite useful lives: Capitalized software costs $ 1,712 $ (1,205) $ 507 Contracts 294 (164) 130 Other 91 (78) 13 Other intangible assets with finite lives 2,097 (1,447) 650 Other intangible assets with indefinite useful lives: Trade names 105 — 105 Contracts 609 — 609 Other 4 — 4 Other intangible assets with indefinite lives 718 — 718 Other intangible assets, net $ 2,815 $ (1,447) $ 1,368 Estimated future amortization of intangible assets with finite useful lives at September 30, 2024 was as follows: Three Years Ending Later Years December 31, Total 2024 2025 2026 2027 2028 Amortization of intangible assets $ 601 $ 59 $ 111 $ 98 $ 88 $ 67 $ 178 We recognized amortization expense of $136 million and $128 million in the accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and 2023, respectively. Other Current Assets and Other Current Liabilities The principal components of other current assets in the accompanying Condensed Consolidated Balance Sheets were as follows: September 30, 2024 December 31, 2023 Prepaid expenses $ 357 $ 391 Contract assets 185 208 California provider fee program receivables 293 329 Receivables from other government programs 235 282 Guarantees 227 274 Non-patient receivables 278 260 Other 116 95 Total other current assets $ 1,691 $ 1,839 At September 30, 2024, other current liabilities in the accompanying Condensed Consolidated Balance Sheet included $182 million of advances received from managed care payers designed to assist healthcare providers experiencing cash flow disruptions as a result of the February 2024 cyberattack on Change Healthcare, a clearinghouse for medical claims. There were no advances from managed care payers at December 31, 2023. Investments in Unconsolidated Affiliates As of September 30, 2024, we controlled 383 of the facilities in our Ambulatory Care segment and, therefore, consolidated their results. We account for many of the facilities in which our Ambulatory Care segment holds ownership interests (161 of 544 at September 30, 2024), as well as additional companies in which our Hospital Operations segment holds ownership interests, under the equity method as investments in unconsolidated affiliates and report only our share of net income as equity in earnings of unconsolidated affiliates in our condensed consolidated statements of operations. Summarized financial information for these equity method investees is included in the following table. For investments acquired during the reported periods, amounts in the table include 100% of the investee’s results beginning on the date of our acquisition of the investment. Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net operating revenues $ 845 $ 818 $ 2,573 $ 2,431 Net income $ 212 $ 198 $ 677 $ 586 Net income available to the investees $ 112 $ 114 $ 388 $ 342

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	9 Months Ended
	Sep. 30, 2024
Accounts Receivable Additional Disclosures [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE The principal components of accounts receivable are presented in the table below: September 30, 2024 December 31, 2023 Patient accounts receivable $ 2,437 $ 2,719 Estimated future recoveries 138 148 Cost report settlements receivable, net of payables and valuation allowances 23 47 Accounts receivable, net $ 2,598 $ 2,914 We participate in various provider fee programs, which help reduce the amount of uncompensated care for indigent patients and those covered by Medicaid. The following table summarizes the amount and classification of assets and liabilities in the accompanying Condensed Consolidated Balance Sheets related to California’s provider fee program: September 30, 2024 December 31, 2023 Assets: Other current assets $ 293 $ 329 Investments and other assets $ 354 $ 334 Liabilities: Other current liabilities $ 140 $ 172 Other long-term liabilities $ 81 $ 135 Uninsured and Charity Patient Costs The following table presents our estimated costs (based on selected operating expenses, which include salaries, wages and benefits, supplies and other operating expenses) of caring for our uninsured and charity patients: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Estimated costs for: Uninsured patients $ 135 $ 122 $ 406 $ 361 Charity care patients 22 31 68 83 Total $ 157 $ 153 $ 474 $ 444

CONTRACT BALANCES

CONTRACT BALANCES	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	CONTRACT BALANCES Hospital Operations Segment Our Hospital Operations segment’s contract assets and liabilities primarily derive from: (1) patients receiving ongoing inpatient care from one of our facilities at the end of the reporting period; and (2) timing differences between our performance of revenue cycle management and other contractually-based services and the invoicing or receipt of payment for these services. Our Hospital Operations segment’s contract assets were included in other current assets, and its contract liabilities were included in other current liabilities or other long‑term liabilities, depending upon when we expect to recognize the underlying revenue, in the accompanying Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023. Approximately 88% of our Hospital Operations segment’s contract assets meet the conditions for unconditional right to payment and are reclassified to patient receivables within 90 days. The opening and closing balances of our Hospital Operations segment’s receivables, contract assets, and current and long-term contract liabilities were as follows: Receivables Contract Assets – Contract Liabilities – Contract Liabilities – December 31, 2023 $ 21 $ 208 $ 59 $ 12 September 30, 2024 30 185 81 13 Increase (decrease) $ 9 $ (23) $ 22 $ 1 December 31, 2022 $ 37 $ 200 $ 110 $ 13 September 30, 2023 17 190 86 12 Decrease $ (20) $ (10) $ (24) $ (1) The differences between the balances of our contract assets at December 31, 2023 and 2022 and the balances at September 30, 2024 and 2023 were primarily related to patients who were receiving inpatient acute care and specialty hospital services as of each year‑end date, but who were discharged during the following related nine-month period. In the nine months ended September 30, 2024 and 2023, we recognized revenue totaling $58 million and $71 million, respectively, from our revenue cycle management services that was included in the opening current deferred revenue liability. This revenue consists primarily of prepayments for those contract clients who were billed in advance, changes in estimates related to metric‑based services, and up‑front integration services that are recognized over the service period. Contract Costs —At September 30, 2024 and December 31, 2023, unamortized client contract setup costs were $19 million and $22 million, respectively, and were presented as part of investments and other assets in the accompanying Condensed Consolidated Balance Sheets. Net operating revenues for our Hospital Operations and Ambulatory Care segments primarily consist of net patient service revenues, principally for patients covered by Medicare, Medicaid, and managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients and other uninsured discount and charity programs. Net operating revenues for our Hospital Operations segment also include revenues from providing revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients. The table below presents our sources of net operating revenues: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Hospital Operations: Net patient service revenues from hospitals and related outpatient facilities: Medicare $ 504 $ 583 $ 1,632 $ 1,795 Medicaid 342 309 1,123 853 Managed care 2,425 2,532 7,464 7,600 Uninsured 10 22 40 82 Indemnity and other 148 155 439 451 Total 3,429 3,601 10,698 10,781 Other revenues (1) 554 524 1,620 1,600 Total Hospital Operations 3,983 4,125 12,318 12,381 Ambulatory Care 1,139 941 3,275 2,788 Net operating revenues $ 5,122 $ 5,066 $ 15,593 $ 15,169 (1) Primarily revenue from physician practices and revenue cycle management. Revenue from revenue cycle management services is included in other revenues for all periods presented to conform with our new reporting segment structure. Net adjustments for prior‑year cost reports and related valuation allowances, principally related to Medicare and Medicaid, did not result in a change in revenues during the nine months ended September 30, 2024, but increased revenues by $24 million during the same period in 2023. Estimated cost report settlements receivable, net of payables and valuation allowances were included in accounts receivable in the accompanying Condensed Consolidated Balance Sheets (see Note 2). We believe that we have made adequate provision for any adjustments that may result from the final determination of amounts earned under all the above arrangements with Medicare and Medicaid. The following table presents the composition of net operating revenues for our Ambulatory Care segment: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net patient service revenues $ 1,098 $ 904 $ 3,152 $ 2,677 Management fees 34 30 101 90 Revenue from other sources 7 7 22 21 Net operating revenues $ 1,139 $ 941 $ 3,275 $ 2,788 Performance Obligations The following table includes revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period: Three Years Ending Later Years December 31, Total 2024 2025 2026 2027 2028 Performance obligations $ 5,579 $ 174 $ 692 $ 691 $ 688 $ 687 $ 2,647 The amounts in the table primarily consist of revenue cycle management fixed fees, which are typically recognized ratably as the performance obligation is satisfied. The estimated revenue does not include volume‑ or contingency‑based contracts, variable‑based escalators, performance incentives, penalties or other variable consideration that is considered constrained. Our contract with Catholic Health Initiatives (“CHI”), a minority interest owner of Conifer Health Solutions, LLC, represents the majority of the fixed‑fee revenue related to remaining performance obligations. Conifer’s contract term with CHI ends December 31, 2032.

DISPOSITION OF ASSETS AND LIABI

DISPOSITION OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2024
Discontinued Operation, Additional Disclosures [Abstract]
DISPOSITION OF ASSETS AND LIABILITIES	DISPOSITION OF ASSETS AND LIABILITIES In November 2023, we entered into a definitive agreement for the sale of three hospitals located in South Carolina and certain related operations (together, the “SC Hospitals”), all of which were held by our Hospital Operations segment. The assets and liabilities related to the SC Hospitals were included in assets held for sale and liabilities held for sale, respectively, in the accompanying Condensed Consolidated Balance Sheet at December 31, 2023. We completed the sale of the SC Hospitals in January 2024, resulting in the recognition of a pre-tax gain on sale of $1.677 billion in the nine months ended September 30, 2024. In January 2024, we entered into a definitive agreement for the sale of four hospitals and certain related operations located in Orange County and Los Angeles County, California (the “OCLA CA Hospitals”), including facilities from both our Hospital Operations and Ambulatory Care segments. We completed the sale of the OCLA CA Hospitals in March 2024, resulting in the recognition of a pre-tax gain on sale of $527 million in the nine months ended September 30, 2024. In February 2024, we entered into a definitive agreement for the sale of two hospitals and certain related operations located in San Luis Obispo County, California (the “Central CA Hospitals”), all of which were held by our Hospital Operations segment. We completed the sale of the Central CA Hospitals in March 2024, resulting in the recognition of a pre-tax gain on sale of $271 million in the nine months ended September 30, 2024. In August 2024, we entered into a definitive agreement for the sale of our majority ownership interests in several entities that owned or leased five hospitals and certain related operations, all located in Alabama (collectively, the “AL Hospitals”), including facilities from both our Hospital Operations and Ambulatory Care segments. We recognized a net pre-tax gain on sale of $357 million when this transaction closed in September 2024. We completed the sale of three additional ambulatory surgery centers held by our Ambulatory Care segment during the nine months ended September 30, 2024, resulting in the recognition of a total pre-tax gain on the sales of $43 million. Gains recognized from the disposition of the assets described above are included in net losses (gains) on sales, consolidation and deconsolidation of facilities in the accompanying Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2024. Assets and liabilities classified as held for sale at September 30, 2024 were comprised of the following: Other current assets $ 4 Other intangible assets 16 Other current liabilities (12) Net assets held for sale $ 8 The following table presents amounts included in income before income taxes, related to a significant component of our business that was recently disposed of: Three Months Ended Nine Months Ended 2024 2023 2024 2023 SC Hospitals (includes a $1.677 billion gain on sale in the nine months ended September 30, 2024) $ (2) $ 32 $ 1,687 $ 92

IMPAIRMENT AND RESTRUCTURING CH

IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS	9 Months Ended
	Sep. 30, 2024
Restructuring Costs and Asset Impairment Charges [Abstract]
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS	IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION ‑ RELATED COSTS Our impairment tests presume stable, improving or, in some cases, declining operating results in our facilities, which are based on programs and initiatives being implemented that are designed to achieve each facility’s most recent projections. If these projections are not met, or negative trends occur that impact our future outlook, future impairments of long‑lived assets and goodwill may occur, and we may incur additional restructuring charges, which could be material. We record costs associated with restructuring efforts in our statement of operations as they are incurred. Our restructuring plans typically focus on the alignment of our operations in the most strategic and cost‑effective structure, such as the establishment of support operations at our GBC, among other things. Certain restructuring and acquisition‑related costs are based on estimates. Changes in estimates are recognized as they occur. During the nine months ended September 30, 2024, we recorded impairment and restructuring charges and acquisition‑related costs of $75 million, consisting of $42 million of restructuring charges, $31 million of acquisition‑related transaction costs and $2 million of impairment charges. Restructuring charges consisted of $15 million of legal costs related to the sale of certain businesses, $9 million of employee severance costs, $8 million related to the transition of various administrative functions to our GBC and $10 million of other restructuring costs. During the nine months ended September 30, 2023, we recorded impairment and restructuring charges and acquisition‑related costs of $84 million, consisting of $60 million of restructuring charges, $8 million of acquisition‑related transaction costs and $16 million of impairment charges. Restructuring charges consisted of $30 million of legal costs related to the sale of certain businesses, $9 million related to the transition of various administrative functions to our GBC, $10 million of employee severance costs, $5 million of contract and lease termination fees, and $6 million of other restructuring costs. Impairment charges for the nine months ended September 30, 2023 were primarily attributable to the write-down of an investment in an ambulatory surgery center held by our Ambulatory Care segment.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2024
Long-Term Debt and Lease Obligation [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The table below presents our long‑term debt included in the accompanying Condensed Consolidated Balance Sheets: September 30, 2024 December 31, 2023 Senior unsecured notes: 6.125% due 2028 $ 2,500 $ 2,500 6.875% due 2031 362 362 Senior secured first lien notes: 4.875% due 2026 — 2,100 5.125% due 2027 1,500 1,500 4.625% due 2028 600 600 4.250% due 2029 1,400 1,400 4.375% due 2030 1,450 1,450 6.125% due 2030 2,000 2,000 6.750% due 2031 1,350 1,350 Senior secured second lien notes: 6.250% due 2027 1,500 1,500 Finance leases, mortgages and other notes 307 361 Unamortized issue costs and note discounts (98) (121) Total long-term debt 12,871 15,002 Less: Current portion 95 120 Long-term debt, net of current portion $ 12,776 $ 14,882 Senior Unsecured Notes and Senior Secured Notes At September 30, 2024, we had senior unsecured notes and senior secured notes with aggregate principal amounts outstanding of $12.662 billion. These notes have fixed interest rates ranging from 4.250% to 6.875% and require semi‑annual interest payments in arrears. A payment of the principal and any accrued but unpaid interest is due upon the maturity date of the respective notes, which dates are staggered from February 2027 through November 2031. In March 2024, we redeemed all $2.100 billion aggregate principal amount outstanding of our 4.875% senior secured first lien notes due 2026 in advance of their maturity date. We paid $2.100 billion using cash on hand to redeem the notes. In connection with the redemption, we recorded a loss from early extinguishment of debt of $8 million in the three months ended March 31, 2024, primarily related to the write-off of associated unamortized issuance costs. Credit Agreement We have a senior secured revolving credit facility (as amended, the “Credit Agreement”) that provides for revolving loans in an aggregate principal amount of up to $1.500 billion with a $200 million subfacility for standby letters of credit. Outstanding revolving loans accrue interest depending on the type of loan at either (a) a base rate plus an applicable margin ranging from 0.25% to 0.75% per annum or (b) Term Secured Overnight Financing Rate (“SOFR”), Daily Simple SOFR or the Euro Interbank Offered Rate (EURIBOR) (each, as defined in the Credit Agreement) plus an applicable margin ranging from 1.25% to 1.75% per annum and (in the case of Term SOFR and Daily Simple SOFR only) a credit spread adjustment of 0.10%, in each case based on available credit. An unused commitment fee payable on the undrawn portion of the revolving loans ranges from 0.25% to 0.375% per annum based on available credit. Our borrowing availability is based on a specified percentage of eligible inventory and accounts receivable, including self‑pay accounts. At September 30, 2024, we had no cash borrowings outstanding under the Credit Agreement, and we had less than $1 million of standby letters of credit outstanding. Based on our eligible receivables, $1.500 billion was available for borrowing under the Credit Agreement at September 30, 2024. Letter of Credit Facility We have a letter of credit facility (as amended to date, the “LC Facility”) that provides for the issuance, from time to time, of standby and documentary letters of credit in an aggregate principal amount of up to $200 million. We amended the LC Facility in September 2023 to, among other things, (1) extend the scheduled maturity date from September 12, 2024 to March 16, 2027, and (2) replace the London Interbank Offered Rate (LIBOR) with Term SOFR as the reference interest rate. Drawings under any letter of credit issued under the LC Facility that we have not reimbursed within three business days after notice thereof accrue interest at a base rate, as defined in the LC Facility, plus a margin of 0.50% per annum. An unused commitment fee is payable at an initial rate of 0.25% per annum with a step up to 0.375% per annum should our secured‑debt‑to‑EBITDA ratio equal or exceed 3.00 to 1.00 at the end of any fiscal quarter. A fee on the aggregate outstanding amount of issued but undrawn letters of credit accrues at a rate of 1.50% per annum. An issuance fee equal to 0.125% per annum of the aggregate face amount of each outstanding letter of credit is payable to the account of the issuer of the related letter of credit. The LC Facility is subject to an effective maximum secured debt covenant of 4.25 to 1.00. At September 30, 2024, we had $106 million of standby letters of credit outstanding under the LC Facility.

GUARANTEES

GUARANTEES	9 Months Ended
	Sep. 30, 2024
Guarantees [Abstract]
GUARANTEES	GUARANTEES At September 30, 2024, the maximum potential amount of future payments under our income guarantees to certain physicians who agree to relocate and revenue collection guarantees to hospital‑based physician groups providing certain services at our hospitals was $276 million. We had a total liability of $227 million recorded for these guarantees included in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at September 30, 2024. At September 30, 2024, we also had issued guarantees of the indebtedness and other obligations of our investees to third parties, the maximum potential amount of future payments under which was approximately $79 million. Of the total, $21 million relates to the obligations of consolidated subsidiaries, which obligations were recorded in other current liabilities in the accompanying Condensed Consolidated Balance Sheet at September 30, 2024.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Share-Based Compensation Plans The accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and 2023 include $52 million and $48 million, respectively, of pre-tax compensation costs related to our stock‑based compensation arrangements. At September 30, 2024, there were $75 million of total unrecognized compensation costs related to our share‑based compensation awards. These costs are expected to be recognized over a weighted average (“Wtd. Avg.”) period of 2.0 years. Stock Options The following table provides information about our stock option activity during the nine months ended September 30, 2024: Number of Options Wtd. Avg. Exercise Price Per Share Aggregate Wtd. Avg. Remaining Life (In Millions) Outstanding at December 31, 2023 384,440 $ 22.79 Exercised (185,943) $ 22.05 Outstanding at September 30, 2024 198,497 $ 23.47 $ 28 3.6 years During the nine months ended September 30, 2024 and 2023, 185,943 and 76,507 stock options, respectively, were exercised with an aggregate intrinsic value of $17 million and $4 million, respectively. We did not grant any stock options during either of the nine-month periods ended September 30, 2024 or 2023. The following table provides additional information about our outstanding stock options, all of which were vested and exercisable, at September 30, 2024: Options Outstanding and Exercisable Range of Exercise Prices Number of Wtd. Avg. Wtd. Avg. $18.99 to $20.609 131,285 3.2 years $ 20.22 $20.61 to $35.430 67,212 4.3 years $ 29.82 198,497 3.6 years $ 23.47 Restricted Stock Units The following table presents information about our restricted stock unit (“RSU”) activity during the nine months ended September 30, 2024: Number of RSUs Wtd. Avg. Grant Date Fair Value Per RSU Unvested at December 31, 2023 1,421,063 $ 66.46 Granted 572,055 $ 94.64 Performance-based adjustment 205,075 $ 66.48 Vested (682,754) $ 65.61 Forfeited (8,933) $ 79.12 Unvested at September 30, 2024 1,506,506 $ 81.46 We grant both time‑based RSUs that vest over a prescribed period and performance-based RSUs that vest subject to the achievement of specified performance goals within a pre‑established time frame. The performance-based RSUs may contain provisions that increase or decrease the number of RSUs that ultimately vest, depending upon the level of achievement. For certain of our performance‑based awards, the number of RSUs that ultimately vest is also subject to adjustment based on the achievement of a market‑based condition. In aggregate, these adjustments range from 0% to a maximum of 250% of the number of RSUs initially granted for awards made in 2024, from 0% to 225% for awards made in 2023 and from 0% to 200% for awards granted prior to 2023. Previously, grants of RSUs to our non‑employee directors as part of their annual compensation vested immediately and were settled on the third anniversary of the date of grant. Beginning in 2024, annual compensation grants to our non‑employee directors vest on the first anniversary of the date of grant. The table below summarizes the time-based RSUs granted during the nine months ended September 30, 2024: No. of RSUs Vesting Terms 263,714 RSUs will vest ratably over a three 11,002 RSUs granted to our non-employee directors for the 2024-25 board service year, which will vest on the first anniversary of the grant date The table below summarizes the performance-based RSUs granted during the nine months ended September 30, 2024: No. of RSUs Performance Period Potential Vesting Range Vesting Terms Minimum Maximum 291,734 RSUs will vest on the third anniversary of the grant date 2024 to 2026 — % 250 % 5,605 RSUs will vest on the third anniversary of the grant date 2024 to 2026 — % 150 % The table below summarizes the time-based RSUs granted during the nine months ended September 30, 2023: No. of RSUs Vesting Terms 301,562 RSUs will vest ratably over a three 42,626 RSUs will vest on the fifth anniversary of the grant date 40,538 RSUs granted to our non-employee directors for the 2023-24 board service year, which vested immediately 33,586 RSUs that were scheduled to vest, and did vest, in December 2023 20,707 RSUs will vest upon the relocation of one of our executive officers 9,727 RSUs will vest on the third anniversary of the grant date The table below summarizes the performance-based RSUs granted during the nine months ended September 30, 2023: No. of RSUs Performance Period Potential Vesting Range Vesting Terms Minimum Maximum 301,562 RSUs will vest on the third anniversary of the grant date 2023 to 2025 — % 225 % 7,720 RSUs will vest on the third anniversary of the grant date 2023 to 2025 — % 150 % During the nine months ended September 30, 2024 and 2023, we issued 205,075 and 185,901 RSUs as a result of our level of achievement with respect to previously-awarded performance-based RSUs. The fair value of an RSU is based on our share price on the grant date. The fair value of an RSU with a market‑based condition is estimated through the use of a Monte Carlo simulation. Significant inputs used in our valuation of these RSUs included the following: Nine Months Ended September 30, 2024 2023 Expected volatility 34.9% - 52.1% 53.6% - 65.6% Risk-free interest rate 4.4% - 4.9% 4.2% - 4.8% USPI Management Equity Plan USPI maintains a separate restricted stock plan (the “USPI Management Equity Plan”) under which it grants RSUs representing a contractual right to receive one share of USPI’s non‑voting common stock in the future. The vesting of RSUs granted under the USPI Management Equity Plan varies based on the terms of the underlying award agreement. Once the RSUs have vested and the subsequent requisite holding period is met, during specified times, the participant can sell the underlying shares to USPI at their estimated fair market value. At our sole discretion, the purchase of any non‑voting common shares can be made in cash or in shares of Tenet’s common stock. The following table summarizes RSU activity under the USPI Management Equity Plan during the nine months ended September 30, 2024: Number of RSUs Wtd. Avg. Grant Date Fair Value Per RSU Unvested at December 31, 2023 607,984 $ 34.13 Vested (598,846) $ 34.13 Forfeited (1,997) $ 34.13 Cancelled (7,141) $ 34.13 Unvested at September 30, 2024 — $ 34.13 USPI did not make any grants under the USPI Management Equity Plan during the nine months ended September 30, 2024 or 2023. In August 2024, USPI notified participants of its intention to repurchase all outstanding shares at their estimated fair value. At September 30, 2024, there were 446 thousand outstanding vested shares of non‑voting common stock eligible to be sold to USPI.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
EQUITY	EQUITY The following tables present the changes in consolidated equity (dollars in millions, share amounts in thousands): Common Stock Additional Accumulated Retained Earnings Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2023 99,950 $ 8 $ 4,834 $ (181) $ (192) $ (2,861) $ 1,509 $ 3,117 Net income — — — — 2,151 — 82 2,233 Distributions paid to noncontrolling interests — — — — — — (78) (78) Other comprehensive income — — — 2 — — — 2 Sales of businesses and noncontrolling interests, net — — (5) — — — (23) (28) Repurchases of common stock (2,811) — — — — (280) — (280) Stock-based compensation expense and issuance of common stock 534 — (23) — — — — (23) Balances at March 31, 2024 97,673 8 4,806 (179) 1,959 (3,141) 1,490 4,943 Net income — — — — 259 — 97 356 Distributions paid to noncontrolling interests — — — — — — (70) (70) Other comprehensive income — — — 2 — — — 2 Purchases of businesses and noncontrolling interests, net — — 12 — — — 64 76 Repurchases of common stock (1,990) — — — — (273) — (273) Stock-based compensation expense and issuance of common stock 136 — 22 — — — — 22 Balances at June 30, 2024 95,819 8 4,840 (177) 2,218 (3,414) 1,581 5,056 Net income — — — — 472 — 95 567 Distributions paid to noncontrolling interests — — — — — — (79) (79) Other comprehensive income — — — 2 — — — 2 Accretion of redeemable noncontrolling interests — — (5) — — — — (5) Sales of businesses and noncontrolling interests, net — — (3) — — — (5) (8) Repurchases of common stock (795) — — — — (124) — (124) Stock-based compensation expense and issuance of common stock 59 — 17 — — — — 17 Balances at September 30, 2024 95,083 $ 8 $ 4,849 $ (175) $ 2,690 $ (3,538) $ 1,592 $ 5,426 Common Stock Additional Accumulated Accumulated Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2022 102,247 $ 8 $ 4,778 $ (181) $ (803) $ (2,660) $ 1,317 $ 2,459 Net income — — — — 143 — 74 217 Distributions paid to noncontrolling interests — — — — — — (61) (61) Other comprehensive income — — — 2 — — — 2 Purchases of businesses and noncontrolling interests, net — — 2 — — — 17 19 Repurchases of common stock (906) — — — — (50) — (50) Stock-based compensation expense and issuance of common stock 571 — (6) — — — — (6) Balances at March 31, 2023 101,912 8 4,774 (179) (660) (2,710) 1,347 2,580 Net income — — — — 123 — 82 205 Distributions paid to noncontrolling interests — — — — — — (66) (66) Other comprehensive income — — — 1 — — — 1 Purchases of businesses and noncontrolling interests, net — — 4 — — — 18 22 Repurchases of common stock (580) — — — — (40) — (40) Stock-based compensation expense and issuance of common stock 177 — 22 — — — — 22 Balances at June 30, 2023 101,509 8 4,800 (178) (537) (2,750) 1,381 2,724 Net income — — — — 101 — 75 176 Distributions paid to noncontrolling interests — — — — — — (74) (74) Other comprehensive income — — — 2 — — — 2 Purchases of businesses and noncontrolling interests, net — — 3 — — — 32 35 Stock-based compensation expense and issuance of common stock 42 — 15 — — — — 15 Balances at September 30, 2023 101,551 $ 8 $ 4,818 $ (176) $ (436) $ (2,750) $ 1,414 $ 2,878 Nonredeemable Noncontrolling Interests Our nonredeemable noncontrolling interests balances at September 30, 2024 and December 31, 2023 were comprised of $204 million and $185 million, respectively, from our Hospital Operations segment, and $1.388 billion and $1.324 billion, respectively, from our Ambulatory Care segment. Net income amounts available to nonredeemable noncontrolling interests for the nine months ended September 30, 2024 and 2023 in the tables above were comprised of $35 million and $22 million, respectively, from our Hospital Operations segment and $239 million and $209 million, respectively, from our Ambulatory Care segment. 2022 Share Repurchase Program In October 2022, our board of directors authorized the repurchase of up to $1.000 billion of our common stock through a share repurchase program (the “2022 share repurchase program”). We do not intend to make further repurchases under the 2022 share repurchase program following our board of directors’ approval of a new share repurchase program, as discussed below. The following table summarizes transactions completed under the 2022 share repurchase program during the periods shown: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Dollar Value of Shares That May Yet be Purchased Under the Program (In Thousands) (In Thousands) (In Millions) Nine Months Ended September 30, 2024: January 1 through January 31, 2024 — $ — — $ 550 February 1 through February 29, 2024 — $ — — $ 550 March 1 through March 31, 2024 2,811 $ 98.86 2,811 $ 272 April 1 through April 30, 2024 — $ — — $ 272 May 1 through May 31, 2024 — $ — — $ 272 June 1 through June 30, 2024 1,990 $ 135.85 1,990 $ 2 July 1 through July 31, 2024 — $ — — $ 2 August 1 through August 31, 2024 — $ — — $ 2 September 1 through September 30, 2024 — $ — — $ 2 January 1 through September 30, 2024 4,801 $ 114.19 4,801 Nine Months Ended September 30, 2023: January 1 through January 31, 2023 — $ — — $ 750 February 1 through February 28, 2023 — $ — — $ 750 March 1 through March 31, 2023 906 $ 55.03 906 $ 700 April 1 through April 30, 2023 — $ — — $ 700 May 1 through May 31, 2023 580 $ 69.17 580 $ 660 June 1 through June 30, 2023 — $ — — $ 660 July 1 through July 31, 2023 — $ — — $ 660 August 1 through August 31, 2023 — $ — — $ 660 September 1 through September 30, 2023 — $ — — $ 660 January 1 through September 30, 2023 1,486 $ 60.55 1,486 2024 Share Repurchase Program In July 2024, our board of directors authorized the repurchase of up to $1.500 billion of our common stock through a share repurchase program that has no expiration date (the “2024 share repurchase program”). The 2024 share repurchase program does not obligate us to acquire any particular amount of common stock, and it may be suspended for periods or discontinued at any time. The following table summarizes transactions completed under the 2024 share repurchase program during the periods shown: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Dollar Value of Shares That May Yet be Purchased Under the Program (In Thousands) (In Thousands) (In Millions) Nine Months Ended September 30, 2024: Inception through July 31, 2024 — $ — — $ 1,500 August 1 through August 31, 2024 — $ — — $ 1,500 September 1 through September 30, 2024 795 $ 155.95 795 $ 1,376 Inception through September 30, 2024 795 $ 155.95 795

NET OPERATING REVENUES

NET OPERATING REVENUES	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
NET OPERATING REVENUES	CONTRACT BALANCES Hospital Operations Segment Our Hospital Operations segment’s contract assets and liabilities primarily derive from: (1) patients receiving ongoing inpatient care from one of our facilities at the end of the reporting period; and (2) timing differences between our performance of revenue cycle management and other contractually-based services and the invoicing or receipt of payment for these services. Our Hospital Operations segment’s contract assets were included in other current assets, and its contract liabilities were included in other current liabilities or other long‑term liabilities, depending upon when we expect to recognize the underlying revenue, in the accompanying Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023. Approximately 88% of our Hospital Operations segment’s contract assets meet the conditions for unconditional right to payment and are reclassified to patient receivables within 90 days. The opening and closing balances of our Hospital Operations segment’s receivables, contract assets, and current and long-term contract liabilities were as follows: Receivables Contract Assets – Contract Liabilities – Contract Liabilities – December 31, 2023 $ 21 $ 208 $ 59 $ 12 September 30, 2024 30 185 81 13 Increase (decrease) $ 9 $ (23) $ 22 $ 1 December 31, 2022 $ 37 $ 200 $ 110 $ 13 September 30, 2023 17 190 86 12 Decrease $ (20) $ (10) $ (24) $ (1) The differences between the balances of our contract assets at December 31, 2023 and 2022 and the balances at September 30, 2024 and 2023 were primarily related to patients who were receiving inpatient acute care and specialty hospital services as of each year‑end date, but who were discharged during the following related nine-month period. In the nine months ended September 30, 2024 and 2023, we recognized revenue totaling $58 million and $71 million, respectively, from our revenue cycle management services that was included in the opening current deferred revenue liability. This revenue consists primarily of prepayments for those contract clients who were billed in advance, changes in estimates related to metric‑based services, and up‑front integration services that are recognized over the service period. Contract Costs —At September 30, 2024 and December 31, 2023, unamortized client contract setup costs were $19 million and $22 million, respectively, and were presented as part of investments and other assets in the accompanying Condensed Consolidated Balance Sheets. Net operating revenues for our Hospital Operations and Ambulatory Care segments primarily consist of net patient service revenues, principally for patients covered by Medicare, Medicaid, and managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients and other uninsured discount and charity programs. Net operating revenues for our Hospital Operations segment also include revenues from providing revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients. The table below presents our sources of net operating revenues: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Hospital Operations: Net patient service revenues from hospitals and related outpatient facilities: Medicare $ 504 $ 583 $ 1,632 $ 1,795 Medicaid 342 309 1,123 853 Managed care 2,425 2,532 7,464 7,600 Uninsured 10 22 40 82 Indemnity and other 148 155 439 451 Total 3,429 3,601 10,698 10,781 Other revenues (1) 554 524 1,620 1,600 Total Hospital Operations 3,983 4,125 12,318 12,381 Ambulatory Care 1,139 941 3,275 2,788 Net operating revenues $ 5,122 $ 5,066 $ 15,593 $ 15,169 (1) Primarily revenue from physician practices and revenue cycle management. Revenue from revenue cycle management services is included in other revenues for all periods presented to conform with our new reporting segment structure. Net adjustments for prior‑year cost reports and related valuation allowances, principally related to Medicare and Medicaid, did not result in a change in revenues during the nine months ended September 30, 2024, but increased revenues by $24 million during the same period in 2023. Estimated cost report settlements receivable, net of payables and valuation allowances were included in accounts receivable in the accompanying Condensed Consolidated Balance Sheets (see Note 2). We believe that we have made adequate provision for any adjustments that may result from the final determination of amounts earned under all the above arrangements with Medicare and Medicaid. The following table presents the composition of net operating revenues for our Ambulatory Care segment: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net patient service revenues $ 1,098 $ 904 $ 3,152 $ 2,677 Management fees 34 30 101 90 Revenue from other sources 7 7 22 21 Net operating revenues $ 1,139 $ 941 $ 3,275 $ 2,788 Performance Obligations The following table includes revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period: Three Years Ending Later Years December 31, Total 2024 2025 2026 2027 2028 Performance obligations $ 5,579 $ 174 $ 692 $ 691 $ 688 $ 687 $ 2,647 The amounts in the table primarily consist of revenue cycle management fixed fees, which are typically recognized ratably as the performance obligation is satisfied. The estimated revenue does not include volume‑ or contingency‑based contracts, variable‑based escalators, performance incentives, penalties or other variable consideration that is considered constrained. Our contract with Catholic Health Initiatives (“CHI”), a minority interest owner of Conifer Health Solutions, LLC, represents the majority of the fixed‑fee revenue related to remaining performance obligations. Conifer’s contract term with CHI ends December 31, 2032.

INSURANCE

INSURANCE	9 Months Ended
	Sep. 30, 2024
Property and Professional and General Liablity Insurance [Abstract]
INSURANCE	INSURANCE Property Insurance We have property, business interruption and related insurance coverage to mitigate the financial impact of catastrophic events or perils that is subject to deductible provisions based on the terms of the policies. These policies are issued on an occurrence basis. For both the policy periods of April 1, 2023 through March 31, 2024 and April 1, 2024 through March 31, 2025, we have coverage totaling $850 million per occurrence, after deductibles and exclusions, with annual aggregate sub‑limits of $100 million for floods, $200 million for earthquakes in California, $200 million for all other earthquakes and a per‑occurrence sub‑limit of $200 million per named windstorm with no annual aggregate. With respect to fires and other perils, excluding floods, earthquakes and named windstorms, the total $850 million limit of coverage per occurrence applies. Deductibles are 5% of insured values for earthquakes in California and named windstorms, and 2% of insured values for earthquakes in the New Madrid fault zone, each with a maximum deductible per claim of $25 million. All other covered losses are subject to a minimum deductible of $5 million per occurrence. We also purchase cyber liability insurance from third parties. During the nine months ended September 30, 2024, we received $3 million of insurance recoveries related to a cybersecurity incident that occurred in 2022, none of which was included in net operating revenues during that period. We received $41 million of insurance recoveries during the nine months ended September 30, 2023 related to the same 2022 cybersecurity incident. Of the amounts received, we recorded $34 million as net operating revenues during the same nine-month period in 2023. Professional and General Liability Reserves We are self‑insured for the majority of our professional and general liability claims, and we purchase insurance from third parties to cover catastrophic claims. At September 30, 2024 and December 31, 2023, the aggregate current and long‑term professional and general liability reserves in the accompanying Condensed Consolidated Balance Sheets were $1.141 billion and $1.046 billion, respectively. These accruals include the reserves recorded by our captive insurance subsidiaries and our self‑insured retention reserves recorded based on modeled estimates for the portion of our professional and general liability risks, including incurred but not reported claims, for which we do not have insurance coverage. Malpractice expense of $245 million and $271 million was included in other operating expenses, net, in the accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and 2023, respectively.

CLAIMS AND LAWSUITS

CLAIMS AND LAWSUITS	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CLAIMS AND LAWSUITS	CLAIMS AND LAWSUITS We operate in a highly regulated and litigious industry. Healthcare companies are subject to numerous investigations by various governmental agencies. Further, private parties have the right to bring qui tam or “whistleblower” lawsuits against companies that allegedly submit false claims for payments to, or improperly retain overpayments from, the government and, in some states, private payers. We and our subsidiaries have received inquiries in recent years from government agencies, and we may receive similar inquiries in future periods. We are also subject to class action lawsuits, employment‑related claims and other legal actions in the ordinary course of business, including potential claims related to, among other things, the care and treatment provided at our hospitals and outpatient facilities, the application of various federal and state labor and privacy laws, tax audits and other matters. Some of these actions may involve large demands, as well as substantial defense costs. We cannot predict the outcome of current or future legal actions against us or the effect that judgments or settlements in such matters may have on us; however, we believe that the ultimate resolution of our existing ordinary‑course claims and lawsuits will not have a material effect on our business or financial condition. New claims or inquiries may be initiated against us from time to time. These matters could (1) require us to pay substantial damages or amounts in judgments or settlements, which, individually or in the aggregate, could exceed amounts, if any, that may be recovered under our insurance policies where coverage applies and is available, (2) cause us to incur substantial expenses, (3) require significant time and attention from our management, and (4) cause us to close or sell hospitals or otherwise modify the way we conduct business. We record accruals for estimated losses relating to claims and lawsuits when available information indicates that a loss is probable and we can reasonably estimate the amount of the loss or a range of loss. Significant judgment is required in both the determination of the probability of a loss and the determination as to whether a loss is reasonably estimable. These determinations are updated at least quarterly and are adjusted to reflect the effects of negotiations, settlements, rulings, advice of legal counsel and technical experts, and other information and events pertaining to a particular matter, but are subject to significant uncertainty regarding numerous factors that could affect the ultimate loss levels. If a loss on a material matter is reasonably possible and estimable, we disclose an estimate of the loss or a range of loss. We do not disclose an estimate when we have concluded that a loss is either not reasonably possible or a loss, or a range of loss, is not reasonably estimable, based on available information. Given the inherent uncertainties associated with material legal matters, especially those involving governmental agencies, and the indeterminate damages sought in some cases, we are unable to predict the ultimate liability we may incur from such matters, and an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period. The following table presents reconciliations of the beginning and ending liability balances in connection with legal settlements and related costs: Balances at Litigation and Cash Other Balances at Nine Months Ended September 30, 2024 $ 40 $ 18 $ (45) $ 1 $ 14 Nine Months Ended September 30, 2023 $ 51 $ 28 $ (52) $ 1 $ 28

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES	9 Months Ended
	Sep. 30, 2024
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES	REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES Certain of our investees’ partnership and operating agreements contain terms that, upon the occurrence of specified events, could obligate us to purchase some or all of the noncontrolling interests related to our consolidated subsidiaries. The noncontrolling interests subject to these provisions, and the income attributable to those interests, are not included as part of our equity and are presented as redeemable noncontrolling interests in the accompanying Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023. The following table presents the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries for the periods presented: Nine Months Ended September 30, 2024 2023 Balances at beginning of period $ 2,391 $ 2,149 Net income 336 257 Distributions paid to noncontrolling interests (269) (224) Accretion of redeemable noncontrolling interests 5 — Purchases and sales of businesses and noncontrolling interests, net 186 121 Balances at end of period $ 2,649 $ 2,303 The divestiture of the AL Hospitals during the three months ended September 30, 2024 resulted in a decrease of $175 million in our redeemable noncontrolling interest balance during the same period. The following tables present the composition by segment of our redeemable noncontrolling interests balances, as well as our net income available to redeemable noncontrolling interests: September 30, 2024 December 31, 2023 Hospital Operations $ 775 $ 860 Ambulatory Care 1,874 1,531 Redeemable noncontrolling interests $ 2,649 $ 2,391 Nine Months Ended September 30, 2024 2023 Hospital Operations $ 74 $ 64 Ambulatory Care 262 193 Net income available to redeemable noncontrolling interests $ 336 $ 257 In June 2022, we entered into a share purchase agreement to acquire the 5% ownership interest then-held by Baylor University Medical Center (“Baylor”) in USPI for $406 million. Under the share purchase agreement, we are obligated to make non-interest-bearing monthly payments of approximately $11 million through June 2025. At September 30, 2024, the remaining obligation under the share purchase agreement of $100 million was classified as a current liability and included in other current liabilities in the accompanying Condensed Consolidated Balance Sheet. At December 31, 2023, we had a liability of $135 million recorded in other current liabilities for the purchase of Baylor’s ownership interest and $63 million recorded in other long‑term liabilities in the accompanying Condensed Consolidated Balance Sheet.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES A reconciliation between the amount of reported income tax expense and the amount computed by multiplying income before income taxes by the statutory federal tax rate is presented below: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Tax expense at statutory federal rate of 21% $ 194 $ 73 $ 965 $ 231 State income taxes, net of federal income tax benefit 66 11 291 39 Tax benefit attributable to noncontrolling interests (44) (35) (128) (102) Nondeductible goodwill 33 — 161 — Stock-based compensation tax deficiency (1) — (7) (4) Changes in valuation allowance 2 24 (176) 66 Other items (9) 6 (5) 13 Income tax expense $ 241 $ 79 $ 1,101 $ 243 Income before income taxes for the three months ended September 30, 2024 and 2023 was $922 million and $345 million, respectively, and was $4.593 billion and $1.098 billion for the nine months ended September 30, 2024 and 2023, respectively. Our provision for income taxes during interim reporting periods is calculated by applying an estimate of the annual effective tax rate to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. In calculating “ordinary” income, non‑taxable income available to noncontrolling interests was deducted from pre-tax income. During the nine months ended September 30, 2024, we recorded an income tax benefit of $176 million to decrease the valuation allowance, including a decrease of $193 million primarily for utilization of interest expense carryforwards due to gains from sales of facilities, and an increase of $17 million related to state interest expense carryforwards. During the nine months ended September 30, 2023, we recorded income tax expense of $66 million to increase the valuation allowance for interest expense carryforwards as a result of the limitation on business interest expense. The Inflation Reduction Act of 2022 implemented a corporate alternative minimum tax (“CAMT”) of 15% on book income of certain large corporations effective for tax years beginning after December 31, 2022. We are subject to the CAMT, however, we currently do not expect any material impact on our condensed consolidated statement of operations. During the nine months ended September 30, 2024, we increased our estimated liabilities for uncertain tax positions by $16 million. The total amount of unrecognized tax benefits as of September 30, 2024 was $73 million, of which $71 million, if recognized, would affect our effective tax rate and income tax expense. Our practice is to recognize interest and penalties related to income tax matters in income tax expense in our condensed consolidated statement of operations. Approximately $5 million of interest and penalties related to accrued liabilities for uncertain tax positions are included for the nine months ended September 30, 2024. Total accrued interest and penalties on unrecognized tax benefits at September 30, 2024 were $8 million. As of September 30, 2024, no significant changes in unrecognized federal and state tax benefits were expected in the next 12 months as a result of the settlement of audits, the filing of amended tax returns or the expiration of statutes of limitations.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table reconciles the numerators and denominators of our basic and diluted earnings per common share calculations. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands. Net Income Available to Common Shareholders (Numerator) Wtd. Avg. Shares (Denominator) Per-Share Amount Three Months Ended September 30, 2024 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 472 95,665 $ 4.93 Effect of dilutive instruments 1 987 (0.04) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 473 96,652 $ 4.89 Three Months Ended September 30, 2023 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 101 101,544 $ 0.99 Effect of dilutive instruments (3) 2,881 (0.05) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 98 104,425 $ 0.94 Nine Months Ended September 30, 2024 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 2,882 97,505 $ 29.56 Effect of dilutive instruments 2 1,013 (0.29) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 2,884 98,518 $ 29.27 Nine Months Ended September 30, 2023 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 367 101,869 $ 3.60 Effect of dilutive instruments (9) 3,152 (0.19) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 358 105,021 $ 3.41 Dilutive instruments during the three and nine months ended September 30, 2024 and 2023 consisted of stock options, RSUs, including RSUs issued under the USPI Management Equity Plan, deferred compensation units and dividends on subsidiary preferred stock. During the nine-month period in 2023, our dilutive instruments also included a convertible instrument, namely an agreement related to the ownership interest in a Hospital Operations segment joint venture.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We are required to provide additional disclosures about fair value measurements as part of our financial statements for each major category of assets and liabilities measured at fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities, which generally are not applicable to non‑financial assets and liabilities. Fair values determined by Level 2 inputs utilize data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets. Fair values determined by Level 3 inputs utilize unobservable data points for the asset or liability and include situations where there is little, if any, market activity for the asset or liability, such as internal estimates of future cash flows. Non-Recurring Fair Value Measurements Our non‑financial assets and liabilities not permitted or required to be measured at fair value on a recurring basis typically relate to long-lived assets held and used, long-lived assets held for sale and goodwill. The following table presents this information about assets measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair values: Total Quoted Prices Significant Other Significant September 30, 2024 Long-lived assets held for sale $ 20 $ — $ 20 $ — December 31, 2023 Long-lived assets held for sale $ 775 $ — $ 775 $ — Financial Instruments The fair value of our long‑term debt (except for borrowings under the Credit Agreement) is based on quoted market prices (Level 1). The inputs used to establish the fair value of the borrowings outstanding under the Credit Agreement are considered to be Level 2 inputs. At September 30, 2024 and December 31, 2023, the estimated fair value of our long‑term debt was approximately 99.9% and 96.9%, respectively, of the carrying value of the debt.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS Preliminary purchase price allocations (representing the fair value of the consideration conveyed) for all acquisitions made during the nine months ended September 30, 2024 and 2023 were as follows: Nine Months Ended September 30, 2024 2023 Current assets $ 67 $ 24 Property and equipment 60 12 Other intangible assets 133 8 Goodwill 847 342 Long-term operating lease assets 101 8 Other long-term assets 1 8 Previously held investments in unconsolidated affiliates (34) (59) Current liabilities (55) (17) Current portion of long-term lease liabilities (14) — Long-term operating lease liabilities (12) (7) Other long-term liabilities (101) (12) Redeemable noncontrolling interests in equity of consolidated subsidiaries (393) (126) Noncontrolling interests (59) (59) Cash paid, net of cash acquired (514) (110) Gains on consolidations $ 27 $ 12 The goodwill generated from the 2024 transactions, the majority of which we believe will not be deductible for income tax purposes, can be attributed to the benefits that we expect to realize from operating efficiencies and growth strategies. We recognized goodwill totaling $836 million in our Ambulatory Care segment and $11 million in our Hospital Operations segment during the nine months ended September 30, 2024. Approximately $31 million and $8 million in transaction costs related to prospective and closed acquisitions were expensed during the nine months ended September 30, 2024 and 2023, respectively, and were included in impairment and restructuring charges, and acquisition‑related costs in the accompanying Condensed Consolidated Statements of Operations. In December 2023, we acquired a 55% ownership interest in NextCare Arizona I JV, LLC and a minority ownership interest in NextCare Arizona II JV, LLC from NextCare, Inc. and certain of its affiliates (“NextCare”). Through these transactions, we acquired a controlling interest in 41 fully operational UCCs and a telehealth center, as well as a noncontrolling interest in an additional 15 fully operational UCCs, all located in Arizona. In the nine months ended September 30, 2024, we increased our ownership, such that we now hold a controlling interest in all 56 NextCare UCCs, and we released $10 million of the original purchase price we had retained in escrow pending NextCare’s compliance with certain conditions. We are required to allocate the purchase prices of acquired businesses to assets acquired or liabilities assumed and, if applicable, noncontrolling interests based on their fair values. The excess of the purchase price allocated over those fair values is recorded as goodwill. The purchase price allocations for certain acquisitions completed in 2024 and 2023 are preliminary. We are in the process of assessing working capital balances and lease and other agreements assumed, as well as obtaining and evaluating valuations of the acquired property and equipment, management contracts and other intangible assets, and noncontrolling interests. Therefore, those purchase price allocations, including goodwill, recorded in the accompanying Condensed Consolidated Financial Statements are subject to adjustment once the assessments and valuation work are completed and evaluated. Such adjustments will be recorded as soon as practical and within the measurement period as defined by the accounting literature. During the nine months ended September 30, 2024, we adjusted the preliminary purchase allocations of certain acquisitions completed in 2023 based on the results of completed valuations. These adjustments resulted in a net increase in goodwill of $19 million, which was comprised of a net increase in goodwill for our Hospital Operations segment of $31 million and a net decrease of $12 million for our Ambulatory Care segment.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Prior to December 31, 2023, our business was organized into three separate reporting segments: Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended December 31, 2023, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (Hospital Operations). See Note 1 for additional discussion of this change. Our Hospital Operations segment is comprised of our acute care and specialty hospitals, physician practices and outpatient facilities. At September 30, 2024, our subsidiaries operated 49 hospitals, serving primarily urban and suburban communities in eight states, as well as 142 outpatient facilities, primarily imaging centers, UCCs, ancillary emergency facilities and micro-hospitals. Our Hospital Operations segment also provides revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients. Our Ambulatory Care segment is comprised of the operations of USPI. At September 30, 2024, USPI had ownership interests in 520 ambulatory surgery centers (376 consolidated) and 24 surgical hospitals (seven consolidated) in 37 states. The following tables include amounts for each of our reportable segments and the reconciling items necessary to agree to amounts reported in the accompanying Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations, as applicable: September 30, 2024 December 31, 2023 Assets: Hospital Operations $ 17,334 $ 17,268 Ambulatory Care 12,038 11,044 Total $ 29,372 $ 28,312 Three Months Ended Nine Months Ended 2024 2023 2024 2023 Capital expenditures: Hospital Operations $ 188 $ 156 $ 536 $ 485 Ambulatory Care 28 20 65 58 Total $ 216 $ 176 $ 601 $ 543 Net operating revenues: Hospital Operations $ 3,983 $ 4,125 $ 12,318 $ 12,381 Ambulatory Care 1,139 941 3,275 2,788 Total $ 5,122 $ 5,066 $ 15,593 $ 15,169 Three Months Ended Nine Months Ended 2024 2023 2024 2023 Equity in earnings of unconsolidated affiliates: Hospital Operations $ 1 $ 1 $ 7 $ 6 Ambulatory Care 61 50 175 149 Total $ 62 $ 51 $ 182 $ 155 Adjusted EBITDA: Hospital Operations $ 539 $ 484 $ 1,667 $ 1,449 Ambulatory Care 439 370 1,280 1,080 Total $ 978 $ 854 $ 2,947 $ 2,529 Depreciation and amortization: Hospital Operations $ 171 $ 192 $ 523 $ 568 Ambulatory Care 38 32 102 86 Total $ 209 $ 224 $ 625 $ 654 Adjusted EBITDA $ 978 $ 854 $ 2,947 $ 2,529 Depreciation and amortization (209) (224) (625) (654) Impairment and restructuring charges, and acquisition-related costs (19) (47) (75) (84) Litigation and investigation costs (9) (14) (18) (28) Interest expense (202) (227) (623) (674) Loss from early extinguishment of debt — — (8) (11) Other non-operating income, net 35 4 89 8 Net gains (losses) on sales, consolidation and deconsolidation of facilities 348 (1) 2,906 12 Income before income taxes $ 922 $ 345 $ 4,593 $ 1,098

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Tenet Healthcare Corporation (together with our subsidiaries, referred to herein as “Tenet,” “we” or “us”) is a diversified healthcare services company headquartered in Dallas, Texas. Prior to December 31, 2023, our business was organized into three separate reporting segments: Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended December 31, 2023, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (“Hospital Operations”). The results of the revenue cycle management and value-based care services we provide to hospitals, health systems, physician practices, employers and other clients previously reported under our Conifer segment are now combined with our Hospital Operations segment. See below for additional discussion of this change. Our expansive, nationwide care delivery network now consists of our Hospital Operations and Ambulatory Care segments. As of September 30, 2024, our Hospital Operations segment was comprised of 49 acute care and specialty hospitals, a network of employed physicians and 142 outpatient facilities, including imaging centers, urgent care centers (each, a “UCC”), ancillary emergency facilities and micro‑hospitals. Our Ambulatory Care segment is comprised of the operations of our subsidiary USPI Holding Company, Inc. (“USPI”), which held indirect ownership interests in 520 ambulatory surgery centers and 24 surgical hospitals at September 30, 2024. USPI held noncontrolling interests in 161 of these facilities, which are recorded using the equity method of accounting. In addition, we operate a Global Business Center (“GBC”) in Manila, Philippines. This quarterly report supplements our Annual Report on Form 10‑K for the year ended December 31, 2023 (“Annual Report”). As permitted by the Securities and Exchange Commission for interim reporting, we have omitted certain notes and disclosures that substantially duplicate those in our Annual Report. For further information, refer to the audited Consolidated Financial Statements and notes included in our Annual Report. Unless otherwise indicated, all dollar amounts presented in our Condensed Consolidated Financial Statements and these accompanying notes are expressed in millions (except per‑share amounts), and all share amounts are expressed in thousands. Changes to prior-year presentation— As noted above, we combined our Hospital Operations and other and Conifer segments into a single reporting segment named Hospital Operations and Services (Hospital Operations) during the three months ended December 31, 2023. This change was made to reflect updates to the organizational and management structure of our Conifer and Hospital Operations and other segments. All prior‑period data presented in this report has been adjusted to conform to our new reporting segment structure. As of December 31, 2023, our business was organized into two reporting segments: • our Hospital Operations segment, which includes (1) our acute care and specialty hospitals, physician practices, imaging centers, UCCs, ancillary emergency facilities and micro‑hospitals, and (2) the revenue cycle management and value‑based care services we provide to hospitals, health systems, physician practices, employers and other clients through our Conifer Health Solutions, LLC joint venture; and • our Ambulatory Care segment, which is comprised of the ambulatory surgery center and surgical hospital operations of our USPI subsidiary. In addition, due to its increased significance, income tax payable is now presented separately from other current liabilities in the accompanying Condensed Consolidated Balance Sheets. Although our Condensed Consolidated Financial Statements and these related notes are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. The financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from the amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public. Operating results for the three and nine‑month periods ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: the impact of the demand for, and availability of, qualified medical personnel on compensation costs; overall revenue and cost trends, particularly the timing and magnitude of price changes; fluctuations in contractual allowances and cost report settlements and valuation allowances; managed care contract negotiations, settlements or terminations and payer consolidations; trends in patient accounts receivable collectability and associated implicit price concessions; the impact of cybersecurity incidents on our operations; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; impairment of long‑lived assets and goodwill; restructuring charges; losses, costs and insurance recoveries related to cybersecurity incidents, natural disasters and weather‑related occurrences; the future course and impact of COVID‑19, or the potential emergence and effects of a future pandemic, epidemic or outbreak of an infectious disease, on our operations, financial condition and liquidity; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; gains (losses) on sales, consolidation and deconsolidation of facilities; income tax rates and deferred tax asset valuation allowance activity; changes in estimates of accruals for annual incentive compensation; the timing and amounts of stock option and restricted stock unit grants to employees and directors; gains (losses) from early extinguishment of debt; and changes in occupancy levels and patient volumes. Our hospitals and outpatient facilities are subject to various factors that affect our service mix, revenue mix and patient volumes and, thereby, impact our net patient service revenues and results of operations. These factors include, among others: changes in federal, state and local healthcare and business regulations; changes in general economic conditions nationally and regionally, including inflation and other factors; the number of uninsured and underinsured individuals in local communities treated at our facilities; disease hotspots and seasonal cycles of illness; climate and weather conditions; physician recruitment, satisfaction, retention and attrition; advances in technology and treatments that reduce length of stay or permit procedures to be performed in an outpatient rather than inpatient setting; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; performance data on quality measures and patient satisfaction, as well as standard charges for services; any unfavorable publicity about us, or our joint venture partners, that impacts our relationships with physicians and patients; and changing consumer behavior, including with respect to the timing of elective procedures. These considerations apply to year‑to‑year comparisons as well.
Cash and Cash Equivalents	We treat highly liquid investments with original maturities of three months or less as cash equivalents. Cash and cash equivalents were $4.094 billion and $1.228 billion at September 30, 2024 and December 31, 2023, respectively. At September 30, 2024 and December 31, 2023, our book overdrafts were $185 million and $187 million, respectively, which were classified as accounts payable. Also at September 30, 2024 and December 31, 2023, $110 million and $100 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our insurance‑related subsidiaries. In addition, at September 30, 2024 and December 31, 2023, we had $73 million and $154 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $55 million and $141 million, respectively, were included in accounts payable. During the nine months ended September 30, 2024 and 2023, we recorded right‑of‑use assets related to non‑cancellable finance leases of $51 million and $42 million, respectively, and related to non‑cancellable operating leases of $187 million and $116 million, respectively.
Investments in Unconsolidated Affiliates	As of September 30, 2024, we controlled 383 of the facilities in our Ambulatory Care segment and, therefore, consolidated their results. We account for many of the facilities in which our Ambulatory Care segment holds ownership interests (161 of 544 at September 30, 2024), as well as additional companies in which our Hospital Operations segment holds ownership interests, under the equity method as investments in unconsolidated affiliates and report only our share of net income as equity in earnings of unconsolidated affiliates in our condensed consolidated statements of operations.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	The following tables provide information on changes in the carrying amount of goodwill for each of our segments: Nine Months Ended 2024 2023 Hospital Operations: Goodwill at beginning of period, net of accumulated impairment losses $ 3,119 $ 3,411 Goodwill acquired during the year, net of purchase price allocation adjustments 42 — Goodwill related to assets held for sale and disposed (464) (30) Goodwill at end of period, net of accumulated impairment losses $ 2,697 $ 3,381 Nine Months Ended 2024 2023 Ambulatory Care: Goodwill at beginning of period $ 7,188 $ 6,712 Goodwill acquired during the year, net of purchase price allocation adjustments 824 326 Goodwill related to assets held for sale and disposed or deconsolidated facilities (121) (4) Goodwill at end of period $ 7,891 $ 7,034
Schedule of Other Intangible Assets	The following table provides information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets: Gross Accumulated Net Book Value At September 30, 2024: Other intangible assets with finite useful lives: Capitalized software costs $ 1,505 $ (1,112) $ 393 Contracts 313 (131) 182 Other 105 (79) 26 Other intangible assets with finite lives 1,923 (1,322) 601 Other intangible assets with indefinite useful lives: Trade names 105 — 105 Contracts 663 — 663 Other 4 — 4 Other intangible assets with indefinite lives 772 — 772 Other intangible assets, net $ 2,695 $ (1,322) $ 1,373 At December 31, 2023: Other intangible assets with finite useful lives: Capitalized software costs $ 1,712 $ (1,205) $ 507 Contracts 294 (164) 130 Other 91 (78) 13 Other intangible assets with finite lives 2,097 (1,447) 650 Other intangible assets with indefinite useful lives: Trade names 105 — 105 Contracts 609 — 609 Other 4 — 4 Other intangible assets with indefinite lives 718 — 718 Other intangible assets, net $ 2,815 $ (1,447) $ 1,368
Schedule of Indefinite-Lived Intangible Assets	The following table provides information regarding other intangible assets, which were included in the accompanying Condensed Consolidated Balance Sheets: Gross Accumulated Net Book Value At September 30, 2024: Other intangible assets with finite useful lives: Capitalized software costs $ 1,505 $ (1,112) $ 393 Contracts 313 (131) 182 Other 105 (79) 26 Other intangible assets with finite lives 1,923 (1,322) 601 Other intangible assets with indefinite useful lives: Trade names 105 — 105 Contracts 663 — 663 Other 4 — 4 Other intangible assets with indefinite lives 772 — 772 Other intangible assets, net $ 2,695 $ (1,322) $ 1,373 At December 31, 2023: Other intangible assets with finite useful lives: Capitalized software costs $ 1,712 $ (1,205) $ 507 Contracts 294 (164) 130 Other 91 (78) 13 Other intangible assets with finite lives 2,097 (1,447) 650 Other intangible assets with indefinite useful lives: Trade names 105 — 105 Contracts 609 — 609 Other 4 — 4 Other intangible assets with indefinite lives 718 — 718 Other intangible assets, net $ 2,815 $ (1,447) $ 1,368
Schedule of Estimated Future Amortization of Intangibles with Finite Useful Lives	Estimated future amortization of intangible assets with finite useful lives at September 30, 2024 was as follows: Three Years Ending Later Years December 31, Total 2024 2025 2026 2027 2028 Amortization of intangible assets $ 601 $ 59 $ 111 $ 98 $ 88 $ 67 $ 178
Schedule of Other Current Assets	The principal components of other current assets in the accompanying Condensed Consolidated Balance Sheets were as follows: September 30, 2024 December 31, 2023 Prepaid expenses $ 357 $ 391 Contract assets 185 208 California provider fee program receivables 293 329 Receivables from other government programs 235 282 Guarantees 227 274 Non-patient receivables 278 260 Other 116 95 Total other current assets $ 1,691 $ 1,839
Schedule of Equity Method Investments	Summarized financial information for these equity method investees is included in the following table. For investments acquired during the reported periods, amounts in the table include 100% of the investee’s results beginning on the date of our acquisition of the investment. Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net operating revenues $ 845 $ 818 $ 2,573 $ 2,431 Net income $ 212 $ 198 $ 677 $ 586 Net income available to the investees $ 112 $ 114 $ 388 $ 342

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2024
Accounts Receivable Additional Disclosures [Abstract]
Schedule of Components of Accounts Receivable	The principal components of accounts receivable are presented in the table below: September 30, 2024 December 31, 2023 Patient accounts receivable $ 2,437 $ 2,719 Estimated future recoveries 138 148 Cost report settlements receivable, net of payables and valuation allowances 23 47 Accounts receivable, net $ 2,598 $ 2,914
Schedule of Location of Assets and Liabilities	The following table summarizes the amount and classification of assets and liabilities in the accompanying Condensed Consolidated Balance Sheets related to California’s provider fee program: September 30, 2024 December 31, 2023 Assets: Other current assets $ 293 $ 329 Investments and other assets $ 354 $ 334 Liabilities: Other current liabilities $ 140 $ 172 Other long-term liabilities $ 81 $ 135
Schedule of Estimated Costs for Charity Care and Self-Pay Patients	The following table presents our estimated costs (based on selected operating expenses, which include salaries, wages and benefits, supplies and other operating expenses) of caring for our uninsured and charity patients: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Estimated costs for: Uninsured patients $ 135 $ 122 $ 406 $ 361 Charity care patients 22 31 68 83 Total $ 157 $ 153 $ 474 $ 444

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule Of Opening And Closing Balances Of Company's Contract Assets	The opening and closing balances of our Hospital Operations segment’s receivables, contract assets, and current and long-term contract liabilities were as follows: Receivables Contract Assets – Contract Liabilities – Contract Liabilities – December 31, 2023 $ 21 $ 208 $ 59 $ 12 September 30, 2024 30 185 81 13 Increase (decrease) $ 9 $ (23) $ 22 $ 1 December 31, 2022 $ 37 $ 200 $ 110 $ 13 September 30, 2023 17 190 86 12 Decrease $ (20) $ (10) $ (24) $ (1)

DISPOSITION OF ASSETS AND LIA_2

DISPOSITION OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operation, Additional Disclosures [Abstract]
Schedule of Assets and Liabilities Classified As Held for Sale	Assets and liabilities classified as held for sale at September 30, 2024 were comprised of the following: Other current assets $ 4 Other intangible assets 16 Other current liabilities (12) Net assets held for sale $ 8 The following table presents amounts included in income before income taxes, related to a significant component of our business that was recently disposed of: Three Months Ended Nine Months Ended 2024 2023 2024 2023 SC Hospitals (includes a $1.677 billion gain on sale in the nine months ended September 30, 2024) $ (2) $ 32 $ 1,687 $ 92

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
Long-Term Debt and Lease Obligation [Abstract]
Schedule of Long-Term Debt	The table below presents our long‑term debt included in the accompanying Condensed Consolidated Balance Sheets: September 30, 2024 December 31, 2023 Senior unsecured notes: 6.125% due 2028 $ 2,500 $ 2,500 6.875% due 2031 362 362 Senior secured first lien notes: 4.875% due 2026 — 2,100 5.125% due 2027 1,500 1,500 4.625% due 2028 600 600 4.250% due 2029 1,400 1,400 4.375% due 2030 1,450 1,450 6.125% due 2030 2,000 2,000 6.750% due 2031 1,350 1,350 Senior secured second lien notes: 6.250% due 2027 1,500 1,500 Finance leases, mortgages and other notes 307 361 Unamortized issue costs and note discounts (98) (121) Total long-term debt 12,871 15,002 Less: Current portion 95 120 Long-term debt, net of current portion $ 12,776 $ 14,882

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table provides information about our stock option activity during the nine months ended September 30, 2024: Number of Options Wtd. Avg. Exercise Price Per Share Aggregate Wtd. Avg. Remaining Life (In Millions) Outstanding at December 31, 2023 384,440 $ 22.79 Exercised (185,943) $ 22.05 Outstanding at September 30, 2024 198,497 $ 23.47 $ 28 3.6 years
Schedule of Information about Outstanding Stock Options	The following table provides additional information about our outstanding stock options, all of which were vested and exercisable, at September 30, 2024: Options Outstanding and Exercisable Range of Exercise Prices Number of Wtd. Avg. Wtd. Avg. $18.99 to $20.609 131,285 3.2 years $ 20.22 $20.61 to $35.430 67,212 4.3 years $ 29.82 198,497 3.6 years $ 23.47
Schedule of Restricted Stock Unit Activity	The following table presents information about our restricted stock unit (“RSU”) activity during the nine months ended September 30, 2024: Number of RSUs Wtd. Avg. Grant Date Fair Value Per RSU Unvested at December 31, 2023 1,421,063 $ 66.46 Granted 572,055 $ 94.64 Performance-based adjustment 205,075 $ 66.48 Vested (682,754) $ 65.61 Forfeited (8,933) $ 79.12 Unvested at September 30, 2024 1,506,506 $ 81.46 The table below summarizes the time-based RSUs granted during the nine months ended September 30, 2024: No. of RSUs Vesting Terms 263,714 RSUs will vest ratably over a three 11,002 RSUs granted to our non-employee directors for the 2024-25 board service year, which will vest on the first anniversary of the grant date The table below summarizes the performance-based RSUs granted during the nine months ended September 30, 2024: No. of RSUs Performance Period Potential Vesting Range Vesting Terms Minimum Maximum 291,734 RSUs will vest on the third anniversary of the grant date 2024 to 2026 — % 250 % 5,605 RSUs will vest on the third anniversary of the grant date 2024 to 2026 — % 150 % The table below summarizes the time-based RSUs granted during the nine months ended September 30, 2023: No. of RSUs Vesting Terms 301,562 RSUs will vest ratably over a three 42,626 RSUs will vest on the fifth anniversary of the grant date 40,538 RSUs granted to our non-employee directors for the 2023-24 board service year, which vested immediately 33,586 RSUs that were scheduled to vest, and did vest, in December 2023 20,707 RSUs will vest upon the relocation of one of our executive officers 9,727 RSUs will vest on the third anniversary of the grant date The table below summarizes the performance-based RSUs granted during the nine months ended September 30, 2023: No. of RSUs Performance Period Potential Vesting Range Vesting Terms Minimum Maximum 301,562 RSUs will vest on the third anniversary of the grant date 2023 to 2025 — % 225 % 7,720 RSUs will vest on the third anniversary of the grant date 2023 to 2025 — % 150 % The following table summarizes RSU activity under the USPI Management Equity Plan during the nine months ended September 30, 2024: Number of RSUs Wtd. Avg. Grant Date Fair Value Per RSU Unvested at December 31, 2023 607,984 $ 34.13 Vested (598,846) $ 34.13 Forfeited (1,997) $ 34.13 Cancelled (7,141) $ 34.13 Unvested at September 30, 2024 — $ 34.13
Schedule of Significant Inputs used in Valuation of RSUs	Significant inputs used in our valuation of these RSUs included the following: Nine Months Ended September 30, 2024 2023 Expected volatility 34.9% - 52.1% 53.6% - 65.6% Risk-free interest rate 4.4% - 4.9% 4.2% - 4.8%

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Changes In Consolidated Equity	The following tables present the changes in consolidated equity (dollars in millions, share amounts in thousands): Common Stock Additional Accumulated Retained Earnings Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2023 99,950 $ 8 $ 4,834 $ (181) $ (192) $ (2,861) $ 1,509 $ 3,117 Net income — — — — 2,151 — 82 2,233 Distributions paid to noncontrolling interests — — — — — — (78) (78) Other comprehensive income — — — 2 — — — 2 Sales of businesses and noncontrolling interests, net — — (5) — — — (23) (28) Repurchases of common stock (2,811) — — — — (280) — (280) Stock-based compensation expense and issuance of common stock 534 — (23) — — — — (23) Balances at March 31, 2024 97,673 8 4,806 (179) 1,959 (3,141) 1,490 4,943 Net income — — — — 259 — 97 356 Distributions paid to noncontrolling interests — — — — — — (70) (70) Other comprehensive income — — — 2 — — — 2 Purchases of businesses and noncontrolling interests, net — — 12 — — — 64 76 Repurchases of common stock (1,990) — — — — (273) — (273) Stock-based compensation expense and issuance of common stock 136 — 22 — — — — 22 Balances at June 30, 2024 95,819 8 4,840 (177) 2,218 (3,414) 1,581 5,056 Net income — — — — 472 — 95 567 Distributions paid to noncontrolling interests — — — — — — (79) (79) Other comprehensive income — — — 2 — — — 2 Accretion of redeemable noncontrolling interests — — (5) — — — — (5) Sales of businesses and noncontrolling interests, net — — (3) — — — (5) (8) Repurchases of common stock (795) — — — — (124) — (124) Stock-based compensation expense and issuance of common stock 59 — 17 — — — — 17 Balances at September 30, 2024 95,083 $ 8 $ 4,849 $ (175) $ 2,690 $ (3,538) $ 1,592 $ 5,426 Common Stock Additional Accumulated Accumulated Treasury Noncontrolling Total Equity Shares Issued Par Balances at December 31, 2022 102,247 $ 8 $ 4,778 $ (181) $ (803) $ (2,660) $ 1,317 $ 2,459 Net income — — — — 143 — 74 217 Distributions paid to noncontrolling interests — — — — — — (61) (61) Other comprehensive income — — — 2 — — — 2 Purchases of businesses and noncontrolling interests, net — — 2 — — — 17 19 Repurchases of common stock (906) — — — — (50) — (50) Stock-based compensation expense and issuance of common stock 571 — (6) — — — — (6) Balances at March 31, 2023 101,912 8 4,774 (179) (660) (2,710) 1,347 2,580 Net income — — — — 123 — 82 205 Distributions paid to noncontrolling interests — — — — — — (66) (66) Other comprehensive income — — — 1 — — — 1 Purchases of businesses and noncontrolling interests, net — — 4 — — — 18 22 Repurchases of common stock (580) — — — — (40) — (40) Stock-based compensation expense and issuance of common stock 177 — 22 — — — — 22 Balances at June 30, 2023 101,509 8 4,800 (178) (537) (2,750) 1,381 2,724 Net income — — — — 101 — 75 176 Distributions paid to noncontrolling interests — — — — — — (74) (74) Other comprehensive income — — — 2 — — — 2 Purchases of businesses and noncontrolling interests, net — — 3 — — — 32 35 Stock-based compensation expense and issuance of common stock 42 — 15 — — — — 15 Balances at September 30, 2023 101,551 $ 8 $ 4,818 $ (176) $ (436) $ (2,750) $ 1,414 $ 2,878
Schedule of Share Repurchase Activity	The following table summarizes transactions completed under the 2022 share repurchase program during the periods shown: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Dollar Value of Shares That May Yet be Purchased Under the Program (In Thousands) (In Thousands) (In Millions) Nine Months Ended September 30, 2024: January 1 through January 31, 2024 — $ — — $ 550 February 1 through February 29, 2024 — $ — — $ 550 March 1 through March 31, 2024 2,811 $ 98.86 2,811 $ 272 April 1 through April 30, 2024 — $ — — $ 272 May 1 through May 31, 2024 — $ — — $ 272 June 1 through June 30, 2024 1,990 $ 135.85 1,990 $ 2 July 1 through July 31, 2024 — $ — — $ 2 August 1 through August 31, 2024 — $ — — $ 2 September 1 through September 30, 2024 — $ — — $ 2 January 1 through September 30, 2024 4,801 $ 114.19 4,801 Nine Months Ended September 30, 2023: January 1 through January 31, 2023 — $ — — $ 750 February 1 through February 28, 2023 — $ — — $ 750 March 1 through March 31, 2023 906 $ 55.03 906 $ 700 April 1 through April 30, 2023 — $ — — $ 700 May 1 through May 31, 2023 580 $ 69.17 580 $ 660 June 1 through June 30, 2023 — $ — — $ 660 July 1 through July 31, 2023 — $ — — $ 660 August 1 through August 31, 2023 — $ — — $ 660 September 1 through September 30, 2023 — $ — — $ 660 January 1 through September 30, 2023 1,486 $ 60.55 1,486 Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Dollar Value of Shares That May Yet be Purchased Under the Program (In Thousands) (In Thousands) (In Millions) Nine Months Ended September 30, 2024: Inception through July 31, 2024 — $ — — $ 1,500 August 1 through August 31, 2024 — $ — — $ 1,500 September 1 through September 30, 2024 795 $ 155.95 795 $ 1,376 Inception through September 30, 2024 795 $ 155.95 795

NET OPERATING REVENUES (Tables)

NET OPERATING REVENUES (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Operating Revenues Less Provision for Doubtful Accounts and Implicit Price Concessions	The table below presents our sources of net operating revenues: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Hospital Operations: Net patient service revenues from hospitals and related outpatient facilities: Medicare $ 504 $ 583 $ 1,632 $ 1,795 Medicaid 342 309 1,123 853 Managed care 2,425 2,532 7,464 7,600 Uninsured 10 22 40 82 Indemnity and other 148 155 439 451 Total 3,429 3,601 10,698 10,781 Other revenues (1) 554 524 1,620 1,600 Total Hospital Operations 3,983 4,125 12,318 12,381 Ambulatory Care 1,139 941 3,275 2,788 Net operating revenues $ 5,122 $ 5,066 $ 15,593 $ 15,169 (1) Primarily revenue from physician practices and revenue cycle management. Revenue from revenue cycle management services is included in other revenues for all periods presented to conform with our new reporting segment structure. The following table presents the composition of net operating revenues for our Ambulatory Care segment: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net patient service revenues $ 1,098 $ 904 $ 3,152 $ 2,677 Management fees 34 30 101 90 Revenue from other sources 7 7 22 21 Net operating revenues $ 1,139 $ 941 $ 3,275 $ 2,788
Schedule of Performance Obligation, Expected Timing of Satisfaction	The following table includes revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period: Three Years Ending Later Years December 31, Total 2024 2025 2026 2027 2028 Performance obligations $ 5,579 $ 174 $ 692 $ 691 $ 688 $ 687 $ 2,647

CLAIMS AND LAWSUITS (Tables)

CLAIMS AND LAWSUITS (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Reconciliations of Legal Settlements and Related Costs	The following table presents reconciliations of the beginning and ending liability balances in connection with legal settlements and related costs: Balances at Litigation and Cash Other Balances at Nine Months Ended September 30, 2024 $ 40 $ 18 $ (45) $ 1 $ 14 Nine Months Ended September 30, 2023 $ 51 $ 28 $ (52) $ 1 $ 28

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES (Tables)	9 Months Ended
	Sep. 30, 2024
Noncontrolling Interest [Abstract]
Schedule of Changes in Redeemable Noncontrolling Interests in Equity of Consolidated Subsidiaries	The following table presents the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries for the periods presented: Nine Months Ended September 30, 2024 2023 Balances at beginning of period $ 2,391 $ 2,149 Net income 336 257 Distributions paid to noncontrolling interests (269) (224) Accretion of redeemable noncontrolling interests 5 — Purchases and sales of businesses and noncontrolling interests, net 186 121 Balances at end of period $ 2,649 $ 2,303 The following tables present the composition by segment of our redeemable noncontrolling interests balances, as well as our net income available to redeemable noncontrolling interests: September 30, 2024 December 31, 2023 Hospital Operations $ 775 $ 860 Ambulatory Care 1,874 1,531 Redeemable noncontrolling interests $ 2,649 $ 2,391 Nine Months Ended September 30, 2024 2023 Hospital Operations $ 74 $ 64 Ambulatory Care 262 193 Net income available to redeemable noncontrolling interests $ 336 $ 257

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Reconciliation Between Reported Income Tax Expense and Income Taxes Calculated by the Statutory Federal Income Tax Rate	A reconciliation between the amount of reported income tax expense and the amount computed by multiplying income before income taxes by the statutory federal tax rate is presented below: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Tax expense at statutory federal rate of 21% $ 194 $ 73 $ 965 $ 231 State income taxes, net of federal income tax benefit 66 11 291 39 Tax benefit attributable to noncontrolling interests (44) (35) (128) (102) Nondeductible goodwill 33 — 161 — Stock-based compensation tax deficiency (1) — (7) (4) Changes in valuation allowance 2 24 (176) 66 Other items (9) 6 (5) 13 Income tax expense $ 241 $ 79 $ 1,101 $ 243

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconcile of Numerators and Denominators of Our Basic and Diluted Earnings Per Common Share	The following table reconciles the numerators and denominators of our basic and diluted earnings per common share calculations. Net income available to our common shareholders is expressed in millions and weighted average shares are expressed in thousands. Net Income Available to Common Shareholders (Numerator) Wtd. Avg. Shares (Denominator) Per-Share Amount Three Months Ended September 30, 2024 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 472 95,665 $ 4.93 Effect of dilutive instruments 1 987 (0.04) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 473 96,652 $ 4.89 Three Months Ended September 30, 2023 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 101 101,544 $ 0.99 Effect of dilutive instruments (3) 2,881 (0.05) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 98 104,425 $ 0.94 Nine Months Ended September 30, 2024 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 2,882 97,505 $ 29.56 Effect of dilutive instruments 2 1,013 (0.29) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 2,884 98,518 $ 29.27 Nine Months Ended September 30, 2023 Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share $ 367 101,869 $ 3.60 Effect of dilutive instruments (9) 3,152 (0.19) Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share $ 358 105,021 $ 3.41

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets on a Nonrecurring Basis	The following table presents this information about assets measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair values: Total Quoted Prices Significant Other Significant September 30, 2024 Long-lived assets held for sale $ 20 $ — $ 20 $ — December 31, 2023 Long-lived assets held for sale $ 775 $ — $ 775 $ —

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Preliminary Purchase Price Allocation	Preliminary purchase price allocations (representing the fair value of the consideration conveyed) for all acquisitions made during the nine months ended September 30, 2024 and 2023 were as follows: Nine Months Ended September 30, 2024 2023 Current assets $ 67 $ 24 Property and equipment 60 12 Other intangible assets 133 8 Goodwill 847 342 Long-term operating lease assets 101 8 Other long-term assets 1 8 Previously held investments in unconsolidated affiliates (34) (59) Current liabilities (55) (17) Current portion of long-term lease liabilities (14) — Long-term operating lease liabilities (12) (7) Other long-term liabilities (101) (12) Redeemable noncontrolling interests in equity of consolidated subsidiaries (393) (126) Noncontrolling interests (59) (59) Cash paid, net of cash acquired (514) (110) Gains on consolidations $ 27 $ 12

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Reconciliation of Assets by Reportable Segment to Consolidated Assets	The following tables include amounts for each of our reportable segments and the reconciling items necessary to agree to amounts reported in the accompanying Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations, as applicable: September 30, 2024 December 31, 2023 Assets: Hospital Operations $ 17,334 $ 17,268 Ambulatory Care 12,038 11,044 Total $ 29,372 $ 28,312
Schedule of Reconciliation of Other Significant Reconciling Items From Segments to Consolidated	Three Months Ended Nine Months Ended 2024 2023 2024 2023 Capital expenditures: Hospital Operations $ 188 $ 156 $ 536 $ 485 Ambulatory Care 28 20 65 58 Total $ 216 $ 176 $ 601 $ 543 Net operating revenues: Hospital Operations $ 3,983 $ 4,125 $ 12,318 $ 12,381 Ambulatory Care 1,139 941 3,275 2,788 Total $ 5,122 $ 5,066 $ 15,593 $ 15,169 Three Months Ended Nine Months Ended 2024 2023 2024 2023 Equity in earnings of unconsolidated affiliates: Hospital Operations $ 1 $ 1 $ 7 $ 6 Ambulatory Care 61 50 175 149 Total $ 62 $ 51 $ 182 $ 155 Adjusted EBITDA: Hospital Operations $ 539 $ 484 $ 1,667 $ 1,449 Ambulatory Care 439 370 1,280 1,080 Total $ 978 $ 854 $ 2,947 $ 2,529 Depreciation and amortization: Hospital Operations $ 171 $ 192 $ 523 $ 568 Ambulatory Care 38 32 102 86 Total $ 209 $ 224 $ 625 $ 654 Adjusted EBITDA $ 978 $ 854 $ 2,947 $ 2,529 Depreciation and amortization (209) (224) (625) (654) Impairment and restructuring charges, and acquisition-related costs (19) (47) (75) (84) Litigation and investigation costs (9) (14) (18) (28) Interest expense (202) (227) (623) (674) Loss from early extinguishment of debt — — (8) (11) Other non-operating income, net 35 4 89 8 Net gains (losses) on sales, consolidation and deconsolidation of facilities 348 (1) 2,906 12 Income before income taxes $ 922 $ 345 $ 4,593 $ 1,098

BASIS OF PRESENTATION - Descrip

BASIS OF PRESENTATION - Description of Business and Basis of Presentation (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2024 hospital	Sep. 30, 2024 healthcare_facility	Dec. 31, 2023 segment	Dec. 31, 2022 segment
Business Acquisition [Line Items]
Number of reportable segments | segment			2	3
Hospital Operations
Business Acquisition [Line Items]
Number of acute care and specialty hospitals operated	49
Number of outpatient facilities operated | healthcare_facility		142
Ambulatory Care | United Surgical Partners International
Business Acquisition [Line Items]
Number of ambulatory surgery centers	520
Number of surgical hospitals operated by subsidiaries	24
Number of outpatient centers recorded using equity method	161	161

BASIS OF PRESENTATION - Cash an

BASIS OF PRESENTATION - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash and Cash Equivalents
Cash and cash equivalents	$ 4,094		$ 1,228
Book overdrafts classified as accounts payable	185		187
Accrued property and equipment purchases for items received but not yet paid	73		154
Accrued property and equipment purchases for items received but not yet paid, accounts payable	55		141
Non-cancellable finance leases entered into	51	$ 42
Non-cancellable operating leases liability entered into	187	$ 116
Captive Insurance Subsidiaries
Cash and Cash Equivalents
Cash and cash equivalents	$ 110		$ 100

BASIS OF PRESENTATION - Goodwil

BASIS OF PRESENTATION - Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Goodwill at beginning of period, net of accumulated impairment losses	$ 10,307
Goodwill at end of period, net of accumulated impairment losses	10,588
Hospital Operations:
Goodwill [Roll Forward]
Goodwill at beginning of period, net of accumulated impairment losses	3,119	$ 3,411
Goodwill acquired during the year, net of purchase price allocation adjustments	42	0
Goodwill related to assets held for sale and disposed or deconsolidated facilities	(464)	(30)
Goodwill at end of period, net of accumulated impairment losses	2,697	3,381
Ambulatory Care:
Goodwill [Roll Forward]
Goodwill at beginning of period, net of accumulated impairment losses	7,188	6,712
Goodwill acquired during the year, net of purchase price allocation adjustments	824	326
Goodwill related to assets held for sale and disposed or deconsolidated facilities	(121)	(4)
Goodwill at end of period, net of accumulated impairment losses	$ 7,891	$ 7,034

BASIS OF PRESENTATION - Other I

BASIS OF PRESENTATION - Other Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,923	$ 2,097
Accumulated Amortization	(1,322)	(1,447)
Net Book Value	601	650
Other intangible assets with indefinite lives	772	718
Gross Carrying Amount	2,695	2,815
Net Book Value	1,373	1,368
Trade names
Finite-Lived Intangible Assets [Line Items]
Other intangible assets with indefinite lives	105	105
Contracts
Finite-Lived Intangible Assets [Line Items]
Other intangible assets with indefinite lives	663	609
Other
Finite-Lived Intangible Assets [Line Items]
Other intangible assets with indefinite lives	4	4
Capitalized software costs
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,505	1,712
Accumulated Amortization	(1,112)	(1,205)
Net Book Value	393	507
Contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	313	294
Accumulated Amortization	(131)	(164)
Net Book Value	182	130
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105	91
Accumulated Amortization	(79)	(78)
Net Book Value	$ 26	$ 13

BASIS OF PRESENTATION - Amortiz

BASIS OF PRESENTATION - Amortization of Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Book Value	$ 601		$ 650
2024	59
2025	111
2026	98
2027	88
2028	67
Later Years	178
Amortization expense	$ 136	$ 128

BASIS OF PRESENTATION - Other C

BASIS OF PRESENTATION - Other Current Asset (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable and allowance for doubtful accounts
Prepaid expenses	$ 357,000,000	$ 391,000,000
Contract assets	185,000,000	208,000,000
California provider fee program receivables	2,598,000,000	2,914,000,000
Receivables from other government programs	235,000,000	282,000,000
Guarantees	227,000,000	274,000,000
Non-patient receivables	278,000,000	260,000,000
Other	116,000,000	95,000,000
Total other current assets	1,691,000,000	1,839,000,000
Advances received from managed care payers	182,000,000	0
California's Provider Fee Program
Accounts receivable and allowance for doubtful accounts
California provider fee program receivables	$ 293,000,000	$ 329,000,000

BASIS OF PRESENTATION - Investm

BASIS OF PRESENTATION - Investments in Unconsolidated Affiliates (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 healthcare_facility	Sep. 30, 2024 hospital	Sep. 30, 2024	Sep. 30, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Investee results reflected (percent)						1
Net operating revenues	$ 5,122	$ 5,066	$ 15,593				$ 15,169
Net income	681	266	3,492				855
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Net operating revenues	845	818	2,573				2,431
Net income	212	198	677				586
Net income available to the investees	112	114	388				342
Ambulatory Care
Schedule of Equity Method Investments [Line Items]
Number of outpatient centers operated | hospital					383
Number of outpatient centers | hospital					544
Net operating revenues	$ 1,139	$ 941	$ 3,275				$ 2,788
Ambulatory Care | United Surgical Partners International
Schedule of Equity Method Investments [Line Items]
Number of outpatient centers recorded using equity method				161	161

ACCOUNTS RECEIVABLE - Schedule

ACCOUNTS RECEIVABLE - Schedule of Components of Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts Receivable Additional Disclosures [Abstract]
Patient accounts receivable	$ 2,437	$ 2,719
Estimated future recoveries	138	148
Cost report settlements receivable, net of payables and valuation allowances	23	47
Accounts receivable, net	$ 2,598	$ 2,914

ACCOUNTS RECEIVABLE - Schedul_2

ACCOUNTS RECEIVABLE - Schedule of Location of Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets:
Other current assets	$ 2,598	$ 2,914
Liabilities:
Other current liabilities	1,265	1,408
California's Provider Fee Program
Assets:
Other current assets	293	329
Investments and other assets	354	334
Liabilities:
Other current liabilities	140	172
Other long-term liabilities	$ 81	$ 135

ACCOUNTS RECEIVABLE - Schedul_3

ACCOUNTS RECEIVABLE - Schedule of Estimated Costs for Charity Care and Self-Pay Patients (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	$ 157	$ 153	$ 474	$ 444
Uninsured patients
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	135	122	406	361
Charity care patients
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	$ 22	$ 31	$ 68	$ 83

CONTRACT BALANCES - Narrative (

CONTRACT BALANCES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Percentage of contract assets that meet the conditions for unconditional right to payment (percentage)	88%		88%
Amount of revenue recognized included in current deferred revenue liability	$ 58	$ 71

CONTRACT BALANCES - Hospital Op

CONTRACT BALANCES - Hospital Operations and Ambulatory Care Segments (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Contract Assets – Unbilled Revenue
Balance at beginning of period	$ 208
Balance at end of period	185
Hospital Operations
Receivables
Balance at beginning of period	21	$ 37
Balance at end of period	30	17
Increase (decrease)	9	(20)
Contract Assets – Unbilled Revenue
Balance at beginning of period	208	200
Balance at end of period	185	190
Increase (decrease)	(23)	(10)
Contract Liabilities – Current Deferred Revenue
Balance at beginning of period	59	110
Balance at end of period	81	86
Contract Liabilities – Long-Term Deferred Revenue
Balance at beginning of period	12	13
Balance at end of period	13	12
Hospital Operations | Short-term Contract with Customer
Contract Liabilities – Current Deferred Revenue
Increase (decrease)	22	(24)
Contract Liabilities – Long-Term Deferred Revenue
Increase (decrease)	22	(24)
Hospital Operations | Long-term Contract with Customer
Contract Liabilities – Current Deferred Revenue
Increase (decrease)	1	(1)
Contract Liabilities – Long-Term Deferred Revenue
Increase (decrease)	$ 1	$ (1)

CONTRACT BALANCES - Contract Co

CONTRACT BALANCES - Contract Costs (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Unamortized deferred contract setup costs	$ 19	$ 22

DISPOSITION OF ASSETS AND LIA_3

DISPOSITION OF ASSETS AND LIABILITIES - Narrative (Details) $ in Millions	1 Months Ended					9 Months Ended
	Sep. 30, 2024 USD ($)	Aug. 31, 2024 hospital	Feb. 29, 2024 hospital	Jan. 31, 2024 hospital	Nov. 30, 2023 hospital	Sep. 30, 2024 USD ($) hospital
SC Hospitals | Discontinued Operations, Held-for-sale
Current Assets and Liabilities Held for Sale
Number of hospitals for sale | hospital					3
SC Hospitals | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Current Assets and Liabilities Held for Sale
Gain on sale of properties | $						$ 1,677
OCLA CA Hospitals | Discontinued Operations, Held-for-sale
Current Assets and Liabilities Held for Sale
Number of hospitals for sale | hospital				4
Gain on sale of properties | $						527
Central CA Hospitals | Discontinued Operations, Held-for-sale
Current Assets and Liabilities Held for Sale
Number of hospitals for sale | hospital			2
Gain on sale of properties | $						271
AL Hospitals | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Current Assets and Liabilities Held for Sale
Number of hospitals for sale | hospital		5
Gain on sale of properties | $	$ 357
Ambulatory Surgery Centers | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Current Assets and Liabilities Held for Sale
Gain on sale of properties | $						$ 43
Number of ambulatory surgery centers for sale | hospital						3

DISPOSITION OF ASSETS AND LIA_4

DISPOSITION OF ASSETS AND LIABILITIES - Schedule of Assets and Liabilities Held for Sale (Details) - Discontinued Operations, Held-for-sale $ in Millions	Sep. 30, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other current assets	$ 4
Other intangible assets	16
Other current liabilities	(12)
Net assets held for sale	$ 8

DISPOSITION OF ASSETS AND LIA_5

DISPOSITION OF ASSETS AND LIABILITIES - Schedule of Significant Components (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - SC Hospitals - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from continuing operations, before income taxes:	$ (2)	$ 32	$ 1,687	$ 92
Gain on sale of properties			$ 1,677

IMPAIRMENT AND RESTRUCTURING _2

IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment and restructuring charges, and acquisition-related costs	$ 19	$ 47	$ 75	$ 84
Restructuring charges			42	60
Acquisition costs			31	8
Impairment charges			2	16
Other restructuring costs			10	6
Contract and lease termination costs				5
Legal Costs Related to the Sale of Certain Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges			15	30
Employee Severance
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges			9	10
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			$ 8	$ 9

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
LONG-TERM DEBT AND LEASE OBLIGATIONS
Finance leases, mortgages and other notes	$ 307	$ 361
Unamortized issue costs and note discounts	(98)	(121)
Total long-term debt	12,871	15,002
Less: Current portion	95	120
Long-term debt, net of current portion	$ 12,776	14,882
Senior Notes | 6.125% due 2028
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	6.125%
Carrying amount	$ 2,500	2,500
Senior Notes | 6.875% due 2031
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	6.875%
Carrying amount	$ 362	362
Senior Notes | 4.875% due 2026
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	4.875%
Carrying amount	$ 0	2,100
Senior Notes | 5.125% due 2027
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	5.125%
Carrying amount	$ 1,500	1,500
Senior Notes | 4.625% due 2028
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	4.625%
Carrying amount	$ 600	600
Senior Notes | 4.250% due 2029
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	4.25%
Carrying amount	$ 1,400	1,400
Senior Notes | 4.375% due 2030
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	4.375%
Carrying amount	$ 1,450	1,450
Senior Notes | 6.125% due 2030
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	6.125%
Carrying amount	$ 2,000	2,000
Senior Notes | 6.750% due 2031
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	6.75%
Carrying amount	$ 1,350	1,350
Senior Notes | 6.250% due 2027
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	6.25%
Carrying amount	$ 1,500	$ 1,500

LONG-TERM DEBT - Senior Unsecur

LONG-TERM DEBT - Senior Unsecured and Senior Secured Notes (Narrative) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
LONG-TERM DEBT AND LEASE OBLIGATIONS
Loss from early extinguishment of debt	$ 0		$ 0	$ 8,000,000	$ 11,000,000
Senior Notes
LONG-TERM DEBT AND LEASE OBLIGATIONS
Long term debt, face amount	$ 12,662,000,000			$ 12,662,000,000
Loss from early extinguishment of debt		$ 8,000,000
Senior Notes | 4.875% due 2026
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	4.875%			4.875%
Repurchased face amount		$ 2,100,000,000
Senior Notes | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	4.25%			4.25%
Senior Notes | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Stated interest rate, percentage	6.875%			6.875%

LONG-TERM DEBT - Credit Agreeme

LONG-TERM DEBT - Credit Agreement (Narrative) (Details) - Credit Agreement - Credit Agreement	9 Months Ended
	Sep. 30, 2024 USD ($)
LONG-TERM DEBT AND LEASE OBLIGATIONS
Cash borrowings outstanding	$ 0
Standby letters of credit outstanding (less than)	1,000,000
Amount available for borrowing under revolving credit facility	1,500,000,000
Revolving Credit Facility
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity (up to)	$ 1,500,000,000
Revolving Credit Facility | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (percentage)	0.25%
Revolving Credit Facility | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (percentage)	0.375%
Revolving Credit Facility | Base rate | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	0.25%
Revolving Credit Facility | Base rate | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	0.75%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)
LONG-TERM DEBT AND LEASE OBLIGATIONS
Basis spread on credit spread	0.10%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	1.25%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (percentage)	1.75%
Letter of Credit
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity (up to)	$ 200,000,000

LONG-TERM DEBT - Letter of Cred

LONG-TERM DEBT - Letter of Credit Facility (Narrative) (Details) - Credit Agreement - Letter of Credit Facility - Letter of Credit	1 Months Ended
	Sep. 30, 2023 day	Sep. 30, 2024 USD ($)
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity (up to)		$ 200,000,000
Margin on variable rate (percentage)	0.50%
Secured debt to EBITDA ratio	3
Interest rate on issued but undrawn letters of credit	1.50%
Issuance fee, based on face amount (percentage)	0.125%
Maximum secured debt covenant ratio	4.25
Standby letters of credit outstanding (less than)		$ 106,000,000
Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Number of business days after notice, for reimbursement of amount drawn | day	3
Unused commitment fee (percentage)	0.375%
Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (percentage)	0.25%

GUARANTEES (Details)

GUARANTEES (Details) $ in Millions	Sep. 30, 2024 USD ($)
Income and Revenue Collection Guarantee
GUARANTEES
Maximum potential amount of future payments under guarantees	$ 276
Income and Revenue Collection Guarantee | Other current liabilities
GUARANTEES
Liability for the fair value of guarantees	227
Guaranteed Investees of Third Parties
GUARANTEES
Maximum potential amount of future payments under guarantees	79
Guaranteed Investees of Third Parties | Other current liabilities
GUARANTEES
Guarantee obligations for consolidated subsidiaries	$ 21

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs, pretax	$ 52	$ 48
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 75
Period for recognition of unrecognized compensation costs	2 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised (in shares)	185,943	76,507
Aggregate Intrinsic value of awards exercised	$ 17	$ 4
Granted (in shares)	0	0

EMPLOYEE BENEFIT PLANS - Stock

EMPLOYEE BENEFIT PLANS - Stock Options (Details) - Stock Options - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Number of Options
Outstanding at the beginning of the period (in shares)	384,440
Exercised (in shares)	(185,943)	(76,507)
Outstanding at the end of the period (in shares)	198,497
Wtd. Avg. Exercise  Price Per Share
Outstanding at the beginning of the period (in dollars per share)	$ 22.79
Exercised (in dollars per share)	22.05
Outstanding at the end of the period (in dollars per share)	$ 23.47
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 28
Wtd. Avg. Remaining Life
Outstanding at the end of the period	3 years 7 months 6 days

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of Information about Outstanding Stock Options (Details) - Stock Options	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Options Outstanding and Exercisable
Number of Options (in shares) | shares	198,497
Wtd. Avg. Remaining Contractual Life	3 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$ 23.47
$18.99 to $20.609
Options Outstanding and Exercisable
Number of Options (in shares) | shares	131,285
Wtd. Avg. Remaining Contractual Life	3 years 2 months 12 days
Weighted Average Exercise Price (in dollars per share)	$ 20.22
$20.61 to $35.430
Options Outstanding and Exercisable
Number of Options (in shares) | shares	67,212
Wtd. Avg. Remaining Contractual Life	4 years 3 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 29.82
Minimum | $18.99 to $20.609
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, low end of the range (in dollars per share)	18.99
Minimum | $20.61 to $35.430
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, low end of the range (in dollars per share)	20.61
Maximum | $18.99 to $20.609
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, high end of the range (in dollars per share)	20.609
Maximum | $20.61 to $35.430
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, high end of the range (in dollars per share)	$ 35.430

EMPLOYEE BENEFIT PLANS - Restri

EMPLOYEE BENEFIT PLANS - Restricted Stock Units (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Restricted Stock Units
Number of RSUs
Unvested at the beginning of the period (in shares)	1,421,063
Granted (in shares)	572,055
Vested (in shares)	(682,754)
Forfeited (in shares)	(8,933)
Unvested at the end of the period (in shares)	1,506,506
Wtd. Avg. Grant Date Fair  Value Per RSU
Unvested at the beginning of the period (in dollars per share)	$ 66.46
Granted (in dollars per share)	94.64
Vested (in dollars per share)	65.61
Forfeited (in dollars per share)	79.12
Unvested at the end of the period (in dollars per share)	$ 81.46
Other Disclosures
Awards granted in the period (in shares)	572,055
Performance Based Restricted Stock Unit
Number of RSUs
Granted (in shares)	205,075
Wtd. Avg. Grant Date Fair  Value Per RSU
Granted (in dollars per share)	$ 66.48
Other Disclosures
Awards granted in the period (in shares)	205,075
Shares issued (in shares)	205,075	185,901
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250%
Number of RSUs
Granted (in shares)	291,734
Other Disclosures
Awards granted in the period (in shares)	291,734
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Minimum
Other Disclosures
Vesting percentage	0%
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Minimum | Awards Granted In 2024
Other Disclosures
Vesting percentage	0%
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Maximum
Other Disclosures
Vesting percentage	250%
Performance Based Restricted Stock Unit | Performance Based Vesting, 0 to 250% | Maximum | Awards Granted In 2024
Other Disclosures
Vesting percentage	250%
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 225% | Minimum | Awards Granted In 2023
Other Disclosures
Vesting percentage	0%
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 225% | Maximum | Awards Granted In 2023
Other Disclosures
Vesting percentage	225%
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 200% | Minimum | Awards Granted Before 2023
Other Disclosures
Vesting percentage	0%
Performance Based Restricted Stock Unit | Performance based vesting, 0 to 200% | Maximum | Awards Granted Before 2023
Other Disclosures
Vesting percentage	200%
Performance Based Restricted Stock Unit | Performance Based Vesting And settled, Three Year Period, 0 to 150%
Number of RSUs
Granted (in shares)	5,605	7,720
Other Disclosures
Awards granted in the period (in shares)	5,605	7,720
Performance Based Restricted Stock Unit | Performance Based Vesting And settled, Three Year Period, 0 to 150% | Minimum
Other Disclosures
Vesting percentage	0%	0%
Performance Based Restricted Stock Unit | Performance Based Vesting And settled, Three Year Period, 0 to 150% | Maximum
Other Disclosures
Vesting percentage	150%	150%
Performance Based Restricted Stock Unit | Performance Based Vesting, Three Year Period, 0 to 225%
Number of RSUs
Granted (in shares)		301,562
Other Disclosures
Awards granted in the period (in shares)		301,562
Performance Based Restricted Stock Unit | Performance Based Vesting, Three Year Period, 0 to 225% | Minimum
Other Disclosures
Vesting percentage		0%
Performance Based Restricted Stock Unit | Performance Based Vesting, Three Year Period, 0 to 225% | Maximum
Other Disclosures
Vesting percentage		225%
Time Based Restricted Stock Units | Vest Ratably Over Three Year Period from Grant Date
Number of RSUs
Granted (in shares)	263,714	301,562
Other Disclosures
Awards granted in the period (in shares)	263,714	301,562
Vesting period	3 years	3 years
Time Based Restricted Stock Units | Vest On The First Anniversary Of The Grant Date | Non-Employee Directors
Number of RSUs
Granted (in shares)	11,002
Other Disclosures
Awards granted in the period (in shares)	11,002
Time Based Restricted Stock Units | Vest on Fifth Anniversary
Number of RSUs
Granted (in shares)		42,626
Other Disclosures
Awards granted in the period (in shares)		42,626
Time Based Restricted Stock Units | Performance Based Vesting Immediately | Non-Employee Directors
Number of RSUs
Granted (in shares)		40,538
Other Disclosures
Awards granted in the period (in shares)		40,538
Time Based Restricted Stock Units | Vest on December 31, 2023
Number of RSUs
Granted (in shares)		33,586
Other Disclosures
Awards granted in the period (in shares)		33,586
Time Based Restricted Stock Units | Relocation Based Vesting | Executive Officer
Number of RSUs
Granted (in shares)		20,707
Other Disclosures
Awards granted in the period (in shares)		20,707
Time Based Restricted Stock Units | Vested On Third Anniversary Of The Grant Date
Number of RSUs
Granted (in shares)		9,727
Other Disclosures
Awards granted in the period (in shares)		9,727

EMPLOYEE BENEFIT PLANS - Sche_2

EMPLOYEE BENEFIT PLANS - Schedule of Significant Inputs used in Valuation of RSUs (Details) - Restricted Stock Units	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	34.90%	53.60%
Expected volatility, maximum	52.10%	65.60%
Risk-free interest rate, minimum	4.40%	4.20%
Risk-free interest rate, maximum	4.90%	4.80%

EMPLOYEE BENEFIT PLANS - USPI M

EMPLOYEE BENEFIT PLANS - USPI Management Equity Plan (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Restricted Stock Units
Number of RSUs
Unvested at the beginning of the period (in shares)	1,421,063
Vested (in shares)	(682,754)
Forfeited (in shares)	(8,933)
Unvested at the end of the period (in shares)	1,506,506
Wtd. Avg. Grant Date Fair  Value Per RSU
Unvested at the beginning of the period (in dollars per share)	$ 66.46
Vested (in dollars per share)	65.61
Forfeited (in dollars per share)	79.12
Unvested at the end of the period (in dollars per share)	$ 81.46
Awards granted in the period (in shares)	572,055
USPI Management Equity Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual right to receive shares of common stock for a stock based award (in shares)	1
Number of RSUs
Unvested at the beginning of the period (in shares)	607,984
Vested (in shares)	(598,846)
Forfeited (in shares)	(1,997)
Cancelled (in shares)	(7,141)
Unvested at the end of the period (in shares)	0
Wtd. Avg. Grant Date Fair  Value Per RSU
Unvested at the beginning of the period (in dollars per share)	$ 34.13
Vested (in dollars per share)	34.13
Forfeited (in dollars per share)	34.13
Cancelled (in dollars per share)	34.13
Unvested at the end of the period (in dollars per share)	$ 34.13
Awards granted in the period (in shares)	0	0
USPI Management Equity Plan | Nonvoting Common Stock
Wtd. Avg. Grant Date Fair  Value Per RSU
Outstanding vested shares eligible to be sold (in shares)	446,000

EQUITY - Changes in Shareholder

EQUITY - Changes in Shareholders' Equity (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Changes in Shareholders' Equity
Balances, beginning of period	$ 5,056	$ 4,943	$ 3,117	$ 2,724	$ 2,580	$ 2,459	$ 3,117	$ 2,459
Net income	567	356	2,233	176	205	217
Distributions paid to noncontrolling interests	(79)	(70)	(78)	(74)	(66)	(61)
Other comprehensive income	2	2	2	2	1	2	6	5
Accretion of redeemable noncontrolling interests	(5)
Purchases (sales) of businesses and noncontrolling interests, net	(8)	76	(28)	35	22	19
Repurchases of common stock	(124)	(273)	(280)		(40)	(50)
Stock-based compensation expense and issuance of common stock	17	22	(23)	15	22	(6)
Balances, end of period	$ 5,426	$ 5,056	$ 4,943	$ 2,878	$ 2,724	$ 2,580	$ 5,426	$ 2,878
Common Stock
Changes in Shareholders' Equity
Balances, beginning of period (in shares)	95,819	97,673	99,950	101,509	101,912	102,247	99,950	102,247
Balances, beginning of period	$ 8	$ 8	$ 8	$ 8	$ 8	$ 8	$ 8	$ 8
Repurchases of common stock (in shares)	(795)	(1,990)	(2,811)		(580)	(906)
Stock-based compensation expense and issuance of common stock (in shares)	59	136	534	42	177	571
Balances, end of period (in shares)	95,083	95,819	97,673	101,551	101,509	101,912	95,083	101,551
Balances, end of period	$ 8	$ 8	$ 8	$ 8	$ 8	$ 8	$ 8	$ 8
Additional Paid-In Capital
Changes in Shareholders' Equity
Balances, beginning of period	4,840	4,806	4,834	4,800	4,774	4,778	4,834	4,778
Accretion of redeemable noncontrolling interests	(5)
Purchases (sales) of businesses and noncontrolling interests, net	(3)	12	(5)	3	4	2
Stock-based compensation expense and issuance of common stock	17	22	(23)	15	22	(6)
Balances, end of period	4,849	4,840	4,806	4,818	4,800	4,774	4,849	4,818
Accumulated Other Comprehensive Loss
Changes in Shareholders' Equity
Balances, beginning of period	(177)	(179)	(181)	(178)	(179)	(181)	(181)	(181)
Other comprehensive income	2	2	2	2	1	2
Balances, end of period	(175)	(177)	(179)	(176)	(178)	(179)	(175)	(176)
Retained Earnings (Accumulated Deficit)
Changes in Shareholders' Equity
Balances, beginning of period	2,218	1,959	(192)	(537)	(660)	(803)	(192)	(803)
Net income	472	259	2,151	101	123	143
Balances, end of period	2,690	2,218	1,959	(436)	(537)	(660)	2,690	(436)
Treasury Stock
Changes in Shareholders' Equity
Balances, beginning of period	(3,414)	(3,141)	(2,861)	(2,750)	(2,710)	(2,660)	(2,861)	(2,660)
Repurchases of common stock	(124)	(273)	(280)		(40)	(50)
Stock-based compensation expense and issuance of common stock	0			0
Balances, end of period	(3,538)	(3,414)	(3,141)	(2,750)	(2,750)	(2,710)	(3,538)	(2,750)
Noncontrolling Interests
Changes in Shareholders' Equity
Balances, beginning of period	1,581	1,490	1,509	1,381	1,347	1,317	1,509	1,317
Net income	95	97	82	75	82	74
Distributions paid to noncontrolling interests	(79)	(70)	(78)	(74)	(66)	(61)
Purchases (sales) of businesses and noncontrolling interests, net	(5)	64	(23)	32	18	17
Balances, end of period	$ 1,592	$ 1,581	$ 1,490	$ 1,414	$ 1,381	$ 1,347	$ 1,592	$ 1,414

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Jul. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	$ 5,426	$ 5,056	$ 4,943	$ 2,878	$ 2,724	$ 2,580	$ 5,426	$ 2,878		$ 3,117	$ 2,459
Net income	567	356	2,233	176	205	217
2022 Share Repurchase Program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of common stock authorized to be repurchased												$ 1,000
2024 Share Repurchase Program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of common stock authorized to be repurchased									$ 1,500
Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	1,592	1,581	1,490	1,414	1,381	1,347	1,592	1,414		1,509	$ 1,317
Net income	95	$ 97	$ 82	$ 75	$ 82	$ 74
Noncontrolling Interests | Hospital Operations
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	204						204			185
Net income							35	22
Noncontrolling Interests | Ambulatory Care
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders equity balance	$ 1,388						1,388			$ 1,324
Net income							$ 239	$ 209

EQUITY - Share Repurchase Progr

EQUITY - Share Repurchase Programs (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended																			3 Months Ended	9 Months Ended
	Sep. 30, 2024	Aug. 31, 2024	Jul. 31, 2024	Jul. 31, 2024	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Mar. 31, 2024	Feb. 29, 2024	Jan. 31, 2024	Sep. 30, 2023	Aug. 31, 2023	Jul. 31, 2023	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023	Mar. 31, 2023	Feb. 28, 2023	Jan. 31, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
2022 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Purchased (in shares)	0	0		0	1,990	0	0	2,811	0	0	0	0	0	0	580	0	906	0	0		4,801	1,486
Average Price Paid per Share (in dollars per shares)	$ 0	$ 0		$ 0	$ 135.85	$ 0	$ 0	$ 98.86	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 69.17	$ 0	$ 55.03	$ 0	$ 0		$ 114.19	$ 60.55
Maximum Dollar Value of Shares That May Yet be Purchased Under the Program	$ 2	$ 2	$ 2	$ 2	$ 2	$ 272	$ 272	$ 272	$ 550	$ 550	$ 660	$ 660	$ 660	$ 660	$ 660	$ 700	$ 700	$ 750	$ 750	$ 2	$ 2	$ 660
2024 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Purchased (in shares)	795	0	0																	795
Average Price Paid per Share (in dollars per shares)	$ 155.95	$ 0	$ 0																	$ 155.95
Maximum Dollar Value of Shares That May Yet be Purchased Under the Program	$ 1,376	$ 1,500	$ 1,500	$ 1,500																$ 1,376	$ 1,376

NET OPERATING REVENUES - Net Op

NET OPERATING REVENUES - Net Operating Revenue By Source (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 5,122	$ 5,066	$ 15,593	$ 15,169
Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	1,139	941	3,275	2,788
Operating Segments
Disaggregation of Revenue [Line Items]
Net operating revenues	5,122	5,066	15,593	15,169
Operating Segments | Hospital Operations
Disaggregation of Revenue [Line Items]
Net operating revenues	3,983	4,125	12,318	12,381
Operating Segments | Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	1,139	941	3,275	2,788
Continuing Operations
Disaggregation of Revenue [Line Items]
Net operating revenues	5,122	5,066	15,593	15,169
Continuing Operations | Operating Segments | Hospital Operations
Disaggregation of Revenue [Line Items]
Net operating revenues	3,983	4,125	12,318	12,381
Continuing Operations | Operating Segments | Hospital Operations | Other revenues
Disaggregation of Revenue [Line Items]
Net operating revenues	554	524	1,620	1,600
Continuing Operations | Operating Segments | Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	1,139	941	3,275	2,788
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Medicare
Disaggregation of Revenue [Line Items]
Net operating revenues	504	583	1,632	1,795
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Medicaid
Disaggregation of Revenue [Line Items]
Net operating revenues	342	309	1,123	853
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Managed care
Disaggregation of Revenue [Line Items]
Net operating revenues	2,425	2,532	7,464	7,600
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Uninsured
Disaggregation of Revenue [Line Items]
Net operating revenues	10	22	40	82
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Indemnity and other
Disaggregation of Revenue [Line Items]
Net operating revenues	148	155	439	451
Continuing Operations | Acute Care Hospitals and Related Outpatient Facilities | Operating Segments | Hospital Operations | Total
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 3,429	$ 3,601	$ 10,698	$ 10,781

NET OPERATING REVENUES - Narrat

NET OPERATING REVENUES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 5,122	$ 5,066	$ 15,593	$ 15,169
Restatement Adjustment
Disaggregation of Revenue [Line Items]
Net operating revenues			$ 0	$ 24

NET OPERATING REVENUES - Net _2

NET OPERATING REVENUES - Net Operating Revenue Composition, Ambulatory and Conifer Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 5,122	$ 5,066	$ 15,593	$ 15,169
Ambulatory Care
Disaggregation of Revenue [Line Items]
Net operating revenues	1,139	941	3,275	2,788
Ambulatory Care | Net patient service revenues
Disaggregation of Revenue [Line Items]
Net operating revenues	1,098	904	3,152	2,677
Ambulatory Care | Management fees
Disaggregation of Revenue [Line Items]
Net operating revenues	34	30	101	90
Ambulatory Care | Revenue from other sources
Disaggregation of Revenue [Line Items]
Net operating revenues	$ 7	$ 7	$ 22	$ 21

NET OPERATING REVENUES - Perfor

NET OPERATING REVENUES - Performance Obligations (Details) $ in Millions	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 5,579
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 174
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 692
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	$ 691
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 688
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 687
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 2,647
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

INSURANCE - Insurance (Details)

INSURANCE - Insurance (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		24 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2025	Dec. 31, 2023
Insurance coverage
Net operating revenues	$ 5,122	$ 5,066	$ 15,593	$ 15,169
Insurance recoveries				41
Other Operating Expense, Net
Insurance coverage
Malpractice expense			245	271
Professional and General Liability Reserves
Insurance coverage
Self insurance reserve	$ 1,141		1,141			$ 1,046
Insurance Recoveries
Insurance coverage
Net operating revenues			$ 3	$ 34
Scenario, Forecast
Insurance coverage
Insurance, per occurrence limit					$ 850
Scenario, Forecast | Floods
Insurance coverage
Insurance, annual limit					100
Scenario, Forecast | Earthquake | California
Insurance coverage
Insurance, annual limit					200
Scenario, Forecast | Earthquake | Other Geographic Areas
Insurance coverage
Insurance, annual limit					200
Scenario, Forecast | Windstorms
Insurance coverage
Insurance, annual limit					200
Scenario, Forecast | Fire and other perils
Insurance coverage
Insurance, annual limit					$ 850
Scenario, Forecast | California Earthquakes And Named Windstorms
Insurance coverage
Insurance deductible as a percent					5%
Scenario, Forecast | New Madrid Fault Earthquakes
Insurance coverage
Insurance deductible as a percent					2%
Insurance, maximum deductible per incident					$ 25
Scenario, Forecast | Other Catastrophic Events
Insurance coverage
Insurance, deductible					$ 5

CLAIMS AND LAWSUITS - Reconcili

CLAIMS AND LAWSUITS - Reconciliations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Loss Contingency Accrual [Roll Forward]
Litigation and Investigation Costs	$ 9	$ 14	$ 18	$ 28
Claims, Lawsuits, and Regulatory Proceedings
Loss Contingency Accrual [Roll Forward]
Balances at Beginning of Period			40	51
Litigation and Investigation Costs			18	28
Cash Payments			(45)	(52)
Other			1	1
Balances at End of Period	$ 14	$ 28	$ 14	$ 28

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Changes in Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Balances at beginning of period			$ 2,391				$ 2,391
Net income							336	$ 257
Distributions paid to noncontrolling interests	$ (79)	$ (70)	(78)	$ (74)	$ (66)	$ (61)
Balances at end of period	2,649						2,649
Redeemable Noncontrolling Interests
Increase (Decrease) in Temporary Equity [Roll Forward]
Balances at beginning of period			$ 2,391			$ 2,149	2,391	2,149
Net income							336	257
Distributions paid to noncontrolling interests							(269)	(224)
Accretion of redeemable noncontrolling interests							5	0
Purchases and sales of businesses and noncontrolling interests, net							186	121
Balances at end of period	$ 2,649			$ 2,303			$ 2,649	$ 2,303

REDEEMABLE NONCONTROLLING INT_4

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Redeemable Noncontrolling Interest [Line Items]
Other current liabilities		$ 1,927	$ 1,927	$ 1,756
Other long-term liabilities		1,560	1,560	1,709
AL Hospitals
Redeemable Noncontrolling Interest [Line Items]
Decrease to redeemable noncontrolling interest from sale		175
United Surgical Partners International
Redeemable Noncontrolling Interest [Line Items]
Other current liabilities		$ 100	100	135
Other long-term liabilities				$ 63
United Surgical Partners International | Baylor University Medical Center
Redeemable Noncontrolling Interest [Line Items]
Share purchase agreement amount of payment	$ 406
Payment on execution of share purchase agreement			$ 11
Put Option | United Surgical Partners International | Baylor University Medical Center
Redeemable Noncontrolling Interest [Line Items]
Ownership percentage	5%

REDEEMABLE NONCONTROLLING INT_5

REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF CONSOLIDATED SUBSIDIARIES - Segment Details (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	$ 2,649		$ 2,391
Net income available to redeemable noncontrolling interests	336	$ 257
Hospital Operations
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	775		860
Net income available to redeemable noncontrolling interests	74	64
Ambulatory Care
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests	1,874		$ 1,531
Net income available to redeemable noncontrolling interests	$ 262	$ 193

INCOME TAXES - Federal Tax Reco

INCOME TAXES - Federal Tax Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reconciliation between reported income tax expense (benefit) and income taxes calculated by the statutory federal income tax rate
Tax expense at statutory federal rate of 21%	$ 194	$ 73	$ 965	$ 231
State income taxes, net of federal income tax benefit	66	11	291	39
Tax benefit attributable to noncontrolling interests	(44)	(35)	(128)	(102)
Nondeductible goodwill	33	0	161	0
Stock-based compensation tax deficiency	(1)	0	(7)	(4)
Changes in valuation allowance	2	24	(176)	66
Other items	(9)	6	(5)	13
Income tax expense	$ 241	$ 79	$ 1,101	$ 243

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Pre-tax income (loss)	$ 922	$ 345	$ 4,593	$ 1,098
Change in valuation allowance for interest expense carryforwards	2	$ 24	(176)	$ 66
Estimated liabilities for uncertain tax positions			16
Unrecognized tax benefits	73		73
Unrecognized tax benefits which, if recognized, would impact effective tax rate	71		71
Interest and penalties related to accrued liabilities for uncertain tax positions, recognized			5
Interest and penalties related to accrued liabilities for uncertain tax positions, recognized	$ 8		8
Interest Expense Carryforward Utilization
Effective Income Tax Rate Reconciliation [Line Items]
Increase (decrease) in deferred tax asset valuation			(193)
State Interest Expense Carryforward
Effective Income Tax Rate Reconciliation [Line Items]
Increase (decrease) in deferred tax asset valuation			$ 17

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Income Available to Common Shareholders (Numerator)
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share	$ 472	$ 101	$ 2,882	$ 367
Effect of dilutive instruments	1	(3)	2	(9)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share	$ 473	$ 98	$ 2,884	$ 358
Wtd. Avg. Shares (Denominator)
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share (in shares)	95,665	101,544	97,505	101,869
Effect of dilutive instruments (in shares)	987	2,881	1,013	3,152
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share (in shares)	96,652	104,425	98,518	105,021
Per-Share Amount
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share (in dollars per share)	$ 4.93	$ 0.99	$ 29.56	$ 3.60
Effect of dilutive instruments (in dollars per share)	(0.04)	(0.05)	(0.29)	(0.19)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share (in dollars per share)	$ 4.89	$ 0.94	$ 29.27	$ 3.41

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Nonrecurring
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	$ 20	$ 775
Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	0	0
Nonrecurring | Significant Other Observable Inputs (Level 2)
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	20	775
Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held for sale	$ 0	$ 0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair value of assets and liabilities measured on recurring basis
Estimated fair value of debt instrument as percentage of carrying value (percent)	99.90%	96.90%

ACQUISITIONS - Preliminary Purc

ACQUISITIONS - Preliminary Purchase Price Allocations (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Final purchase price allocations
Goodwill	$ 10,588		$ 10,307
Cash paid, net of cash acquired	(524)	$ (110)
Gains on consolidations	27	12
Series of Individual Business Acquisitions
Final purchase price allocations
Current assets	67	24
Property and equipment	60	12
Other intangible assets	133	8
Goodwill	847	342
Long-term operating lease assets	101	8
Other long-term assets	1	8
Previously held investments in unconsolidated affiliates	(34)	(59)
Current liabilities	(55)	(17)
Current portion of long-term lease liabilities	(14)	0
Long-term operating lease liabilities	(12)	(7)
Other long-term liabilities	(101)	(12)
Redeemable noncontrolling interests in equity of consolidated subsidiaries	(393)	(126)
Noncontrolling interests	(59)	(59)
Cash paid, net of cash acquired	$ (514)	$ (110)

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Millions	1 Months Ended	9 Months Ended
	Dec. 31, 2023 healthcare_facility	Sep. 30, 2024 USD ($) healthcare_facility	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Transaction costs related to prospective and closed acquisitions		$ 31	$ 8
Goodwill acquired during the year, net of purchase price allocation adjustments		$ 19
NextCare Arizona I JV, LLC
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired	55%
Number of operational urgent care centers acquired | healthcare_facility	41	56
Decrease in escrow		$ 10
NextCare Arizona II JV, LLC
Business Acquisition [Line Items]
Number of operational urgent care centers acquired, noncontrolling interest | healthcare_facility	15
Ambulatory Care
Business Acquisition [Line Items]
Goodwill		836
Goodwill acquired during the year, net of purchase price allocation adjustments		(12)
Hospital Operations
Business Acquisition [Line Items]
Goodwill		11
Goodwill acquired during the year, net of purchase price allocation adjustments		$ 31

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 hospital surgery_center state healthcare_facility	Dec. 31, 2023 segment	Dec. 31, 2022 segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment		2	3
Hospital Operations
Segment Reporting Information [Line Items]
Number of hospitals operated by subsidiaries	49
Number of states where operations occur | state	8
Number of outpatient facilities operated | healthcare_facility	142
Ambulatory Care | United Surgical Partners International
Segment Reporting Information [Line Items]
Number of states where operations occur | state	37
Number of ambulatory surgery centers	520
Number of ambulatory surgery centers consolidated | surgery_center	376
Number of surgical hospitals operated by subsidiaries	24
Number of surgical hospitals consolidated	7

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciling Items (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Assets	$ 29,372		$ 29,372		$ 28,312
Net operating revenues	5,122	$ 5,066	15,593	$ 15,169
Equity in earnings of unconsolidated affiliates	62	51	182	155
Adjusted EBITDA:
Adjusted EBITDA	978	854	2,947	2,529
Depreciation and amortization	(209)	(224)	(625)	(654)
Impairment and restructuring charges, and acquisition-related costs	(19)	(47)	(75)	(84)
Litigation and investigation costs	(9)	(14)	(18)	(28)
Interest expense	(202)	(227)	(623)	(674)
Loss from early extinguishment of debt	0	0	(8)	(11)
Other non-operating income, net	35	4	89	8
Net gains (losses) on sales, consolidation and deconsolidation of facilities	348	(1)	2,906	12
Income before income taxes	922	345	4,593	1,098
Operating Segments
Segment Reporting Information [Line Items]
Capital expenditures	216	176	601	543
Net operating revenues	5,122	5,066	15,593	15,169
Equity in earnings of unconsolidated affiliates	62	51	182	155
Adjusted EBITDA:
Adjusted EBITDA	978	854	2,947	2,529
Depreciation and amortization	(209)	(224)	(625)	(654)
Hospital Operations
Segment Reporting Information [Line Items]
Assets	17,334		17,334		17,268
Hospital Operations | Operating Segments
Segment Reporting Information [Line Items]
Capital expenditures	188	156	536	485
Net operating revenues	3,983	4,125	12,318	12,381
Equity in earnings of unconsolidated affiliates	1	1	7	6
Adjusted EBITDA:
Adjusted EBITDA	539	484	1,667	1,449
Depreciation and amortization	(171)	(192)	(523)	(568)
Ambulatory Care
Segment Reporting Information [Line Items]
Assets	12,038		12,038		$ 11,044
Net operating revenues	1,139	941	3,275	2,788
Ambulatory Care | Operating Segments
Segment Reporting Information [Line Items]
Capital expenditures	28	20	65	58
Net operating revenues	1,139	941	3,275	2,788
Equity in earnings of unconsolidated affiliates	61	50	175	149
Adjusted EBITDA:
Adjusted EBITDA	439	370	1,280	1,080
Depreciation and amortization	$ (38)	$ (32)	$ (102)	$ (86)