Tenet Healthcare (THC) 10-Q 3 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 30, 2015
Document and Entity Information
Entity Registrant Name	TENET HEALTHCARE CORP
Entity Central Index Key	70,318
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		99,564,121
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 299	$ 193
Accounts receivable, less allowance for doubtful accounts ($898 at June 30, 2015 and $852 at December 31, 2014)	2,505	2,404
Inventories of supplies, at cost	261	276
Income tax receivable	27	2
Current portion of deferred income taxes	637	747
Assets held for sale	1,170	2
Other current assets	1,110	1,093
Total current assets	6,009	4,717
Investments and other assets	1,017	384
Deferred income taxes, net of current portion	89	116
Property and equipment, at cost, less accumulated depreciation and amortization ($3,877 at June 30, 2015 and $4,478 at December 31, 2014)	7,135	7,733
Goodwill	6,602	3,913
Other intangible assets, at cost, less accumulated amortization ($680 at June 30, 2015 and $671 at December 31, 2014)	1,894	1,278
Total assets	22,746	18,141
Current liabilities:
Current portion of long-term debt	117	112
Accounts payable	1,149	1,179
Accrued compensation and benefits	770	852
Professional and general liability reserves	204	189
Accrued interest payable	204	194
Liabilities held for sale	244
Other current liabilities	1,086	1,051
Total current liabilities	3,774	3,577
Long-term debt, net of current portion	14,637	11,695
Professional and general liability reserves	546	492
Defined benefit plan obligations	627	633
Other long-term liabilities	553	558
Total liabilities	$ 20,137	$ 16,955
Commitments and contingencies
Redeemable noncontrolling interests in equity of consolidated subsidiaries	$ 1,591	$ 401
Shareholders' equity:
Common stock, $0.05 par value; authorized 262,500,000 shares; 146,497,889 shares issued at June 30, 2015 and 145,578,735 shares issued at December 31, 2014	7	7
Additional paid-in capital	4,774	4,614
Accumulated other comprehensive loss	(177)	(182)
Accumulated deficit	(1,424)	(1,410)
Common stock in treasury, at cost, 47,182,990 shares at June 30, 2015 and 47,196,902 shares at December 31, 2014	(2,377)	(2,378)
Total shareholders' equity	803	651
Noncontrolling interests	215	134
Total equity	1,018	785
Total liabilities and equity	$ 22,746	$ 18,141

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 898	$ 852
Property and equipment, accumulated depreciation and amortization (in dollars)	3,877	4,478
Other intangible assets, accumulated amortization (in dollars)	$ 680	$ 671
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, authorized shares	262,500,000	262,500,000
Common stock, shares issued	146,497,889	145,578,735
Common stock in treasury, shares	47,182,990	47,196,902

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net operating revenues:
Net operating revenues before provision for doubtful accounts	$ 4,844	$ 4,358	$ 9,631	$ 8,663
Less: Provision for doubtful accounts	352	320	715	700
Net operating revenues	4,492	4,038	8,916	7,963
Equity in earnings of unconsolidated affiliates	16	4	20	5
Operating expenses:
Salaries, wages and benefits	2,185	1,956	4,310	3,877
Supplies	707	649	1,394	1,277
Other operating expenses, net	1,081	1,035	2,174	2,034
Electronic health record incentives	(33)	(58)	(39)	(67)
Depreciation and amortization	197	209	404	402
Impairment and restructuring charges, and acquisition-related costs	193	32	222	53
Litigation and investigation costs	14	12	17	15
Operating income	164	207	454	377
Interest expense	(217)	(190)	(416)	(372)
Investment earnings (losses)	(1)		(1)
Net income (loss) from continuing operations, before income taxes	(54)	17	37	5
Income tax benefit (expense)	27	(8)	11	(7)
Net income (loss) from continuing operations, before discontinued operations	(27)	9	48	(2)
Discontinued operations:
Loss from operations	(2)	(7)	(3)	(15)
Litigation and investigation costs		(18)	3	(18)
Income tax benefit	1	9		12
Net loss from discontinued operations	(1)	(16)		(21)
Net income (loss)	(28)	(7)	48	(23)
Less: Net income attributable to noncontrolling interests	33	19	62	35
Net loss attributable to Tenet Healthcare Corporation common shareholders	(61)	(26)	(14)	(58)
Amounts attributable to Tenet Healthcare Corporation common shareholders
Net loss from continuing operations, net of tax	(60)	(10)	(14)	(37)
Net loss from discontinued operations, net of tax	(1)	(16)		(21)
Net loss attributable to Tenet Healthcare Corporation common shareholders	$ (61)	$ (26)	$ (14)	$ (58)
Basic
Continuing operations (in dollars per share)	$ (0.60)	$ (0.11)	$ (0.14)	$ (0.38)
Discontinued operations (in dollars per share)	(0.01)	(0.16)		(0.22)
Total loss per share, Basic (in dollars per share)	(0.61)	(0.27)	(0.14)	(0.60)
Diluted
Continuing operations (in dollars per share)	(0.60)	(0.11)	(0.14)	(0.38)
Discontinued operations (in dollars per share)	(0.01)	(0.16)		(0.22)
Total loss per share, Diluted (in dollars per share)	$ (0.61)	$ (0.27)	$ (0.14)	$ (0.60)
Weighted average shares and dilutive securities outstanding (in thousands):
Basic (in shares)	99,244	97,677	98,972	97,419
Diluted (in shares)	99,244	97,677	98,972	97,419

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (28)	$ (7)	$ 48	$ (23)
Other comprehensive income:
Amortization of prior-year service costs included in net periodic benefit costs	2	2	5	3
Unrealized gains on securities held as available-for-sale		3	1	3
Other comprehensive income before income taxes	2	5	6	6
Income tax expense related to items of other comprehensive income		(2)	(1)	(2)
Total other comprehensive income, net of tax	2	3	5	4
Comprehensive net income (loss)	(26)	(4)	53	(19)
Less: Comprehensive income attributable to noncontrolling interests	33	19	62	35
Comprehensive net loss attributable to Tenet Healthcare Corporation common shareholders	$ (59)	$ (23)	$ (9)	$ (54)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Net income (loss)	$ 48	$ (23)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	404	402
Provision for doubtful accounts	715	700
Deferred income tax benefit	(27)	(7)
Stock-based compensation expense	33	26
Impairment and restructuring charges, and acquisition-related costs	222	53
Litigation and investigation costs	17	15
Amortization of debt discount and debt issuance costs	21	14
Pre-tax loss from discontinued operations		33
Other items, net	(25)	(9)
Changes in cash from operating assets and liabilities:
Accounts receivable	(779)	(937)
Inventories and other current assets	36	78
Income taxes	9	(17)
Accounts payable, accrued expenses and other current liabilities	(267)	(32)
Other long-term liabilities	40	47
Payments for restructuring charges, acquisition-related costs, and litigation costs and settlements	(86)	(84)
Net cash used in operating activities from discontinued operations, excluding income taxes	(8)	(12)
Net cash provided by operating activities	353	247
Cash flows from investing activities:
Purchases of property and equipment - continuing operations	(359)	(523)
Purchases of businesses or joint venture interests, net of cash acquired	(636)	(42)
Proceeds from sales of marketable securities, long-term investments and other assets	9	3
Other long-term assets		(14)
Other items, net	1
Net cash used in investing activities	(985)	(576)
Cash flows from financing activities:
Repayments of borrowings under credit facility	(1,315)	(1,300)
Proceeds from borrowings under credit facility	1,195	895
Repayments of other borrowings	(1,992)	(68)
Proceeds from other borrowings	3,187	1,108
Deferred debt issuance costs	(72)	(19)
Distributions paid to noncontrolling interests	(23)	(20)
Contributions from noncontrolling interests	3	13
Purchase of noncontrolling interest	(254)
Proceeds from exercise of stock options	9	11
Other items, net		2
Net cash provided by financing activities	738	622
Net increase in cash and cash equivalents	106	293
Cash and cash equivalents at beginning of period	193	113
Cash and cash equivalents at end of period	299	406
Supplemental disclosures:
Interest paid, net of capitalized interest	(385)	(360)
Income tax refunds (payments), net	$ (8)	$ (19)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1. 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. At June 30, 2015 , we operated 80 hospitals ( one of which is temporarily closed for repairs), 18 short-stay surgical hospitals, over 400 outpatient centers and nine facilities in the United Kingdom through our subsidiaries, partnership s and joint ventures, including USPI Holding Company, Inc. (“USPI joint venture”). The results of 164 of these facilities, in which we hold noncontrolling interests, are recorded using the equity method of accounting. Our Conifer Holdings, Inc. (“Conifer”) subsidiary provides healthcare business process services in the areas of revenue cycle management and technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, self-insured organizations and health plans. Effective June 16, 2015, we completed the transaction that combined our interests in 49 freestanding ambulatory surgery centers and 20 freestanding imaging centers with all of the short-stay surgery center assets held by United Surgical Partners International, Inc. (“USPI”) into our new USPI joint venture. We also refinanced approximately $1.5 billion of existing USPI debt and paid approximately $424 million to align the respective valuations of the assets contributed to the joint venture. We currently own 50.1% of the USPI joint venture. In addit i on, we completed the acquisition of European Surgical Partners Ltd. (“Aspen”) for approximately $226 million on June 16, 2015. Aspen has nine private hospitals and clinics in the United Kingdom. This quarterly report supplements our Annual Report on Form 10-K for the year ended December 31, 2014 (“Annual Report”). As permitted by the Securities and Exchange Commission for interim reporting, we have omitted certain notes and disclosures that substantially duplicate those in our Annual Report. For further information, refer to the audited Consolidated Financial Statements and notes included in our Annual Report. Unless otherwise indicated, all financial and statistical data included in these notes to our Condensed Consolidated Financial Statements relate to our continuing operations, with dollar amounts expressed in millions (except per-share amounts). Certain prior-year amounts have been adjusted to conform to the current-year presentation, primarily due to the USPI joint venture, acquisition of Aspen and the formation of our new Ambulatory Care separate reportable business segment. Although the Condensed Consolidated Financial Statements and related notes within this document are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. In preparing our financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), we are required to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. Financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public. Operating results for the three and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: 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; changes in Medicare and Medicaid regulations; Medicaid and other supplemental funding levels set by the states in which we operate; the timing of approval by the Centers for Medicare and Medicaid Services of Medicaid provider fee revenue programs; trends in patient accounts receivable collectability and associated provisions for doubtful accounts; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; the number of covered lives managed by our health plans and the plans’ ability to effectively manage medical costs; the timing of when we meet the criteria to recognize electronic health record incentives; impairment of long-lived assets and goodwill; restructuring charges; acquisition-related costs; losses, costs and insurance recoveries related to natural disasters; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; 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 or losses from early extinguishment of debt; and changes in occupancy levels and patient volumes. Factors that affect patient volumes and, thereby, the results of operations at our hospitals and related healthcare facilities include, but are not limited to: the business environment, economic conditions and demographics of local communities in which we operate; the number of uninsured and underinsured individuals in local communities treated at our hospitals; seasonal cycles of illness; climate and weather conditions; physician recruitment, retention and attrition; advances in technology and treatments that reduce length of stay; local healthcare competitors; managed care contract negotiations or terminations; the number of patients with high-deductible health insurance plans; any unfavorable publicity about us, which impacts our relationships with physicians and patients; changes in healthcare regulations and the participation of individual states in federal programs; and the timing of elective procedures. These considerations apply to year-to-year comparisons as well. Translation of Foreign Currencies The accounts of Aspen were measured in its local currency (the pound sterling ) and then translated into U.S. dollars. All assets and liabilities were translated using the current rate of exchange at the balance sheet date. Results of operations were translated using the average rates prevailing throughout the period of operations. Translation gains or losses resulting from changes in exchange rates are accumulated in shareholders’ equity. Net Operating Revenues Before Provision for Doubtful Accounts We recognize net operating revenues before provision for doubtful accounts in the period in which our services are performed. Net operating revenues before provision for doubtful accounts primarily consist of net patient service revenues that are recorded based on established billing rates (i.e., gross charges), less estimated discounts for contractual and other allowances, principally for patients covered by Medicare, Medicaid, managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients (“Compact”) and other uninsured discount and charity programs . The table below shows the sources of net operating revenues before provision for doubtful accounts from continuing operations: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 General Hospitals: Medicare $ $ $ $ Medicaid Managed care Indemnity, self-pay and other Acute care hospitals — other revenue Other: Other operations Net operating revenues before provision for doubtful accounts $ $ $ $ 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 approximately $299 million and $193 million at June 30, 2015 and December 31, 2014 , respectively. At June 30, 2015 and December 31, 2014 , our book overdrafts were approximately $223 million and $264 million, respectively, which were classified as accounts payable. At June 30, 2015 and December 31, 2014 , approximately $128 million and $104 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our captive insurance subsidiaries. Also at June 30, 2015 and December 31, 2014 , we had $97 million and $150 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $58 million and $112 million, respectively, were included in accounts payable. During the six months ended June 30, 2015 and 2014 , we entered into non-cancellable capital leases excluding those of acquired businesses of approximately $92 million and $60 million, respectively, primarily for buildings and equipment. Other Intangible Assets The following tables provide information regarding other intangible assets, which are included in the accompanying Condensed Consolidated Balance Sheets at June 30, 2015 and December 31, 2014: Gross Carrying Accumulated Net Book Amount Amortization Value At June 30, 2015: Capitalized software costs $ $ $ Long-term debt issuance costs Trade names — Contracts Other Total $ $ $ Gross Carrying Accumulated Net Book Amount Amortization Value At December 31, 2014: Capitalized software costs $ $ $ Long-term debt issuance costs Trade names — Contracts Other Total $ $ $ Estimated future amortization of intangibles with finite useful lives at June 30, 2015 was as follows: Years Ending December 31, Later Total 2015 2016 2017 2018 2019 Years Amortization of intangible assets $ $ $ $ $ $ $

ACCOUNTS RECEIVABLE AND ALLOWAN

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS	6 Months Ended
	Jun. 30, 2015
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS	NOTE 2. ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS The principal components of accounts receivable are shown in the table below: June 30, December 31, 2015 2014 Continuing operations: Patient accounts receivable $ $ Allowance for doubtful accounts Estimated future recoveries from accounts assigned to our Conifer subsidiary Net cost reports and settlements payable and valuation allowances Discontinued operations Accounts receivable, net $ $ At June 30, 2015 and December 31, 2014 , our allowance for doubtful accounts was 27.2% and 26.8% , respectively, of our patient accounts receivable. Accounts that are pursued for collection through Conifer’s regional business offices are maintained on our hospitals’ books and reflected in patient accounts receivable with an allowance for doubtful accounts established to reduce the carrying value of such receivables to their estimated net realizable value. Generally, we estimate this allowance based on the aging of our accounts receivable by hospital, our historical collection experience by hospital and for each type of payer, and other relevant factors. At June 30, 2015 and December 31, 2014 , our allowance for doubtful accounts for self-pay was 82.3% and 78.0% , respectively, of our self-pay patient accounts receivable, including co-pays and deductibles owed by patients with insurance. At June 30, 2015 and December 31, 2014 , our allowance for doubtful accounts for managed care was 6.9 % and 6.5% , respectively, of our managed care patient accounts receivable. We also provide charity care to patients who are financially unable to pay for the healthcare services they receive. Most patients who qualify for charity care are charged a per-diem amount for services received, subject to a cap. Except for the per-diem amounts, our policy is not to pursue collection of amounts determined to qualify as charity care; therefore, we do not report these amounts in net operating revenues. Most states include an estimate of the cost of charity care in the determination of a hospital’s eligibility for Medicaid disproportionate share hospital (“DSH”) payments. These payments are intended to mitigate our cost of uncompensated care, as well as reduced Medicaid funding levels. The table below shows our estimated costs (based on selected operating expenses, which include salaries, wages and benefits, supplies and other operating expenses) of caring for our self-pay patients and charity care patients, as well as revenues attributable to DSH and other supplemental revenues we recognized in the three and six months ended June 30, 2015 and 2014 . Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Estimated costs for: Self-pay patients $ $ $ $ Charity care patients $ $ $ $ DSH and other supplemental revenues $ $ $ $ At June 30, 2015 and December 31, 2014 , we had approximately $335 million and $399 million, respectively, of receivables recorded in other current assets and approximately $110 million and $212 million, respectively, of payables recorded in other current liabilities in the accompanying Condensed Consolidated Balance Sheets related to California’s provider fee program.

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	6 Months Ended
	Jun. 30, 2015
ASSETS AND LIABILITIES HELD FOR SALE
ASSETS AND LIABILITIES HELD FOR SALE	NOTE 3. ASSETS AND LIABILITIES HELD FOR SALE In the three months ended June 30, 2015, we entered into a definitive agreement for the sale of the assets of our Saint Louis University Hospital (“SLUH”) to Saint Louis University. In accordance with the guidance in the Financial Accounting Standards Board’s Accounting Standards Codification (“ASC”) 360, “Property, Plant and Equipment,” we classified $43 million of SLUH’s assets as “assets held for sale” in current assets and $10 million of SLUH’s liabilities as “liabilities held for sale” in current liabilities in the accompanying Condensed Consolidated Balance Sheet at June 30, 2015. These assets and liabilities were recorded at the lower of their carrying amount or their fair value less estimated costs to sell. As a result of this anticipated transaction, we recorded an impairment charge of $147 million for the write-down of assets held for sale to their estimated fair value, less estimated costs to sell, in the three months ended June 30, 2015. This t ransaction is subject to customary closing conditions, including regulatory approvals. Our hospitals and related facilities in Georgia and North Carolina also met the criteria to be classified as assets held for sale in the three months ended June 30, 2015. In accordance with the guidance in ASC 360, w e classified $529 million and $263 million of assets of our Georgia and North Carolina facilities, respectively, as “assets held for sale” in current assets and $106 million and $84 million of liabilities of our Georgia and North Carolina facilities, respectively, as “liabilities held for sale” in current liabilities in the accompanying Condensed Consolidated Balance Sheet at June 30, 2015 . These assets and liabilities were recorded at the lower of their carrying amount or their fair value less estimated costs to sell. There were no impairment charges recorded as a result of these anticipated transactions. These t ransactions are subject to the execution of definitive asset sales agreements and customary closing conditions, including regulatory approvals. During the three months ended March 31, 2015, we entered into a definitive agreement to form a joint venture with Baylor Scott & White Health involving the ownership and operation of Centennial Medical Center, Doctors Hospital at White Rock Lake, Lake Pointe Medical Center and Texas Regional Medical Center at Sunnyvale (collectively, “our North Texas hospitals”) – which are currently operated by certain of our subsidiaries – and Baylor Medical Center at Garland – which is currently owned and operated by Baylor Scott & White Health, which will hold a majority ownership interest in the joint venture. In accordance with the guidance in ASC 360, w e classified $335 million of assets of our North Texas hospitals as “assets held for sale” in current assets and $45 million of liabilities of our North Texas hospitals as “liabilities held for sale” in current liabilities in the accompanying Condensed Consolidated Balance Sheet at June 30, 2015 . These assets and liabilities were recorded at the lower of their carrying amount or their fair value less estimated costs to sell. There were no impairment charges recorded as a result of this anticipated transaction, which is subject to customary closing conditions, including regulatory approvals. Assets and liabilities classified as held for sale at June 30, 2015 , all of which were in the Hospital Operations and other segment, were comprised of the following: Accounts receivable $ Other current assets Property and equipment Goodwill Other long-term assets Current liabilities Long-term liabilities Net assets held for sale $

IMPAIRMENT AND RESTRUCTURING CH

IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS	6 Months Ended
	Jun. 30, 2015
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS
IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS	NOTE 4. IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS During the six months ended June 30, 2015 , we recorded impairment and restructuring charges and acquisition-related costs of $222 million, consisting of a $147 million charge to write-down assets held for sale to their estimated fair value, less estimated costs to sell, as a result of us entering into a definitive agreement for the sale of SLUH during the three months ended June 30, 2015, as further described in Note 3, $ 8 million of employee severance costs, $4 million of restructuring costs, $4 million of contract and lease termination fees, and $59 million in acquisition-related costs, which include $36 million of transaction costs and $23 million of acquisition integration charges. During the six months ended June 30, 2014 , we recorded impairment and restructuring charges and acquisition-related costs of $53 million, consisting of $9 million of employee severance costs, $18 million of restructuring costs, and $26 million in acquisition-related costs, which include $4 million of transaction costs and $22 million of acquisition integration charges. 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 the facility’s most recent projections. If these projections are not met, or if in the future negative trends occur that impact our future outlook, impairments of long-lived assets and goodwill may occur, and we may incur additional restructuring charges, which could be material. At June 30, 2015 , our continuing operations consisted of t hree reportable segments, Hospital Operations and other, Ambulatory Care and Conifer. During the three months ended June 30, 2015, we combined our Central region with our Resolute Health, San Antonio and South Texas markets to create our new Texas region, and we moved our hospitals and other operations in Tennessee from our Texas region to our Southern region. Our Hospital Operations and other segment was structured as follows at June 30, 2015: · Our Texas region included all of our hospitals and other operations in Missouri, New Mexico and Texas; · Our Florida region included all of our hospitals and other operations in Florida; · Our Northeast region included all of our hospitals and other operations in Illinois, Massachusetts and Pennsylvania; · Our Southern region included all of our hospitals and other operations in Alabama, Georgia, North Carolina, South Carolina and Tennessee; · Our Western region included all of our hospitals and other operations in Arizona and California; and · Our Detroit market included all of our hospitals and other operations in the Detroit, Michigan area. Our regions and markets are reporting units used to perform our goodwill impairment analysis and are one level below our hospital operations reportable business segment level. Our Ambulatory Care segment consists of the operations of our USPI joint venture and our Aspen facilities. We periodically incur costs to implement restructuring efforts for specific operations, which are recorded in our statement of operations as they are incurred. Our restructuring plans focus on various aspects of operations, including aligning our operations in the most strategic and cost-effective structure. Certain restructuring and acquisition-related costs are based on estimates. Changes in estimates are recognized as they occur.

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS	6 Months Ended
	Jun. 30, 2015
SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS
SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS	NOTE 5. SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS Interim Loan Agreement During the three months ended March 31, 2015, we entered into a new interim loan agreement (the “Interim Loan Agreement”) providing for a 364 -day secured term loan facility in the aggregate principal amount of $400 million. On June 16, 2015, we repaid the $400 million aggregate principal amount of the term loan (plus accrued interest of $1 million) outstanding under the Interim Loan Agreement as of that day. We had used the proceeds of the term loan (i) to repay outstanding obligations under our Credit Agreement (defined below), and (ii) to pay certain costs, fees and expenses incurred in connection with entering into the Interim Loan Agreement. Amounts borrowed under the Interim Loan Agreement and repaid or prepaid may not be reborrowed. As a result, the Interim Loan Agreement was terminated as of June 16, 2015. Long-Term Debt and Lease Obligations The table below shows our long-term debt at June 30, 2015 and December 31, 2014 : June 30, December 31, 2015 2014 Senior notes: 5%, due 2019 $ $ 5 1 / 2 %, due 2019 6 3 / 4 %, due 2020 8%, due 2020 8 1 / 8 %, due 2022 6 3 / 4 %, due 2023 — 6 7 / 8 %, due 2031 Senior secured notes: 6 1 / 4 %, due 2018 4 3 / 4 %, due 2020 6%, due 2020 Floating % due 2020 — 4 1 / 2 %, due 2021 4 3 / 8 %, due 2021 Credit facility due 2016 Capital leases and mortgage notes Unamortized note discounts and premium Total long-term debt Less current portion Long-term debt, net of current portion $ $ Credit Agreement We have a senior secured revolving credit facility (as amended, “Credit Agreement”) that provides, subject to borrowing availability, for revolving loans in an aggregate principal amount of up to $1 billion, with a $300 million subfacility for standby letters of credit. The Credit Agreement, which has a scheduled maturity date of November 29, 2016, is collateralized by patient accounts receivable of all of our wholly owned acute care and specialty hospitals. In addition, borrowings under the Credit Agreement are guaranteed by our wholly owned domestic hospital subsidiaries. Outstanding revolving loans accrue interest at a base rate plus a margin ranging from 1.00% to 1.50% or the London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 2.00% to 2.50% per annum based on available credit. An unused commitment fee payable on the undrawn portion of the revolving loans ranges from 0.375% to 0.500% per annum based on available credit. Our borrowing availability is based on a specified percentage of eligible accounts receivable, including self-pay accounts. At June 30, 2015 , we had $100 million of cash borrowings outstanding under the Credit Agreement subject to an interest rate of 2.40% , and we had approximately $4 million of standby letters of credit outstanding. Based on our eligible receivables, approximately $896 million was available for borrowing under the Credit Agreement at June 30, 2015 . Letter of Credit Facility On March 7, 2014, we entered into a letter of credit facility agreement (“LC Facility”) that provides for the issuance of standby and documentary letters of credit (including certain letters of credit originally issued under our Credit Agreement, which we transferred to the LC Facility (the “Existing Letters of Credit”)), from time to time, in an aggregate principal amount of up to $180 million (subject to increase to up to $200 million). The LC Facility has a scheduled maturity date of March 7, 2017, and obligations thereunder are guaranteed by and secured by a first priority pledge of the capital stock and other ownership interests of certain of our domestic hospital subsidiaries on an equal ranking basis with our existing senior secured notes. Drawings under any letter of credit issued under the LC Facility (including the Existing Letters of Credit) that we have not reimbursed within three business days after notice thereof will accrue interest at a base rate plus a margin equal to 0.875% per annum. An unused commitment fee is payable at an initial rate of 0.50% per annum with a step down to 0.375% per annum based on the secured debt to EBITDA ratio of 3.00 to 1.00. A per annum fee on the aggregate outstanding amount of issued but undrawn letters of credit (including Existing Letters of Credit) will accrue at a rate of 1.875% 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. At June 30, 2015 , we had approximately $114 million of standby letters of credit outstanding under the LC Facility. Senior Secured Notes and Senior Unsecured Notes In June 2015, we sold $900 million aggregate principal amount of floating rate senior secured notes, which will mature on June 15, 2020 (the “Secured Notes”), and assumed $1 .9 billion aggregate principal amount of 6 3 / 4 % senior notes, which will mature on June 15, 2023 (the “Unsecured Notes” and, together with the Secured Notes, the “Notes”), issued by THC Escrow Corporation II. We will pay interest on the Secured Notes quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing on September 15, 2015. The Secured Notes accrue interest at a rate per annum, reset quarterly, equal to LIBOR plus 3 1 / 2 % . We will pay interest on the Unsecured Notes semi-annually in arrears on June 15 and December 15 of each year, commencing on December 15, 2015. The proceeds from the sale of the Notes were used to repay borrowings outstanding under our Interim Loan Agreement and Credit Agreement, as well as to refinance the debt of USPI and to pay the cash consideration in respect of our USPI joint venture and Aspen acquisition. Secured Notes. The indenture governing the Secured Notes contains covenants and terms (including terms regarding mandatory redemption) that are similar to those in the indentures governing our existing senior secured notes as described in our Annual Report, except we are permitted under the indenture governing the Secured Notes to incur secured debt so long as, at the time of and after giving effect to the incurrence of such debt, the aggregate amount of all such secured debt (including the aggregate principal amount of Secured Notes outstanding at such time) does not exceed the greater of (i) $ 8.5 billion or (ii) the amount that would cause the secured debt ratio (as defined in the indenture) to exceed 4.0 to 1.0 and, provided further, that the aggregate amount of all such debt secured by a lien on par to the lien securing the Secured Notes does not exceed the greater of (a) $6.4 billion or (b) the amount that would cause the secured debt ratio to exceed 3.0 to 1.0. In addition, pursuant to the Secured Notes indenture, we may, at our option, redeem the Secured Notes, in whole or in part, at any time prior to June 15, 2016 at a redemption price equal to 100% of the principal amount of the notes being redeemed plus the make-whole premium set forth in the Secured Notes indenture, together with accrued and unpaid interest thereon, if any, to the redemption date. From and after June 15, 2016, we may, at our option, redeem the Secured Notes in whole or in part at the redemption prices specified in the Secured Notes indenture. All of our senior secured notes are guaranteed by certain of our domestic hospital company subsidiaries and secured by a first-priority pledge of the capital stock and other ownership interests of those subsidiaries. All of our senior secured notes and the related subsidiary guarantees are our and the subsidiary guarantors’ senior secured obligations. All of our senior secured notes rank equally in right of payment with all of our other senior secured indebtedness. Our senior secured notes rank senior to any subordinated indebtedness that we or such subsidiary guarantors may incur; they are effectively senior to our and such subsidiary guarantors’ existing and future unsecured indebtedness and other liabilities to the extent of the value of the collateral securing the notes and the subsidiary guarantees; they are effectively subordinated to our and such subsidiary guarantors’ obligations under our Credit Agreement and the LC Facility to the extent of the value of the collateral securing borrowings thereunder; and they are structurally subordinated to all obligations of our nonguarantor subsidiaries. Unsecured Notes . The indenture governing the Unsecured Notes contains covenants and terms (including terms regarding mandatory and optional redemption) that are similar to those in the indentures governing our existing unsecured senior notes as described in our Annual Report. All of our senior unsecured notes are general unsecured senior debt obligations that rank equally in right of payment with all of our other unsecured senior indebtedness, but are effectively subordinated to our senior secured notes described above, the obligations of our subsidiaries, and any obligations under our Credit Agreement and the LC Facility to the extent of the collateral.

GUARANTEES

GUARANTEES	6 Months Ended
	Jun. 30, 2015
GUARANTEES
GUARANTEES	NOTE 6. GUARANTEES At June 30, 2015 , 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 $90 million. We had a total liability of $69 million recorded for these guarantees, $17 million in other current liabilities and $52 million in liabilities held for sale, at June 30, 2015 . At June 30, 2015, 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 $40 million. Of the total, $10 million relates to the obligations of consolidated subsidiaries, which obligations are recorded in the accompanying Condensed Consolidated Balance Sheet at June 30, 2015.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Jun. 30, 2015
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	NOTE 7. EMPLOYEE BENEFIT PLANS At June 30, 2015 , approximately 3.2 million shares of common stock were available under our 2008 Stock Incentive Plan for future stock option grants and other incentive awards, including restricted stock units. Options have an exercise price equal to the fair market value of the shares on the date of grant and generally expire 10 years from the date of grant. A restricted stock unit is a contractual right to receive one share of our common stock or the equivalent value in cash in the future. Options and restricted stock units typically vest one -third on each of the first three anniversary dates of the grant; however, certain special retention awards may have longer vesting periods. In addition, from time to time, we grant performance-based options and restricted stock units that vest subject to the achievement of specified performance goals within a specified timeframe. Our income from continuing operations for the six months ended June 30, 2015 and 2014 includes $36 million and $26 million, respectively, of pretax compensation costs related to our stock-based compensation arrangements recorded in salaries, wages and benefits in the accompanying Condensed Consolidated Statements of Operations. Stock Options The following table summarizes stock option activity during the six months ended June 30, 2015 : Weighted Average Exercise Price Aggregate Weighted Average Options Per Share Intrinsic Value Remaining Life (In Millions) Outstanding at December 31, 2014 $ Granted — — Exercised Forfeited/Expired Outstanding at June 30, 2015 $ $ years Vested and expected to vest at June 30, 2015 $ $ years Exercisable at June 30, 2015 $ $ years There were 122,212 stock options exercised during the six months ended June 30, 2015 with an aggregate intrinsic value of $2 million, and 336,789 stock options exercised during the same period in 2014 with a $4 million aggregate intrinsic value. At June 30, 2015 , there were $1 million of total unrecognized compensation costs related to stock options. These costs are expected to be recognized over a weighted average period of six months. There were no stock options granted in the six months ended June 30, 2015 or 2014. The following table summarizes information about our outstanding stock options at June 30, 2015 : Options Outstanding Options Exercisable Weighted Average Number of Remaining Weighted Average Number of Weighted Average Range of Exercise Prices Options Contractual Life Exercise Price Options Exercise Price $0.00 to $4.569 years $ $ $4.57 to $25.089 years $25.09 to $32.569 years $32.57 to $42.089 years — — years $ $ Restricted Stock Units The following table summarizes restricted stock unit activity during the six months ended June 30, 2015 : Restricted Stock Weighted Average Grant Units Date Fair Value Per Unit Unvested at December 31, 2014 $ Granted Vested Forfeited Unvested at June 30, 2015 $ In the six months ended June 30, 2015, we granted 1,142,230 restricted stock units subject to time-vesting, of which 1,067,383 will vest and be settled ratably over a three -year period from the date of the grant and 31,000 will vest 100% on the fifth anniversary of the grant date. In addition, in May 2015, we made an annual grant of 43,847 restricted stock units to our non-employee directors for the 2015-2016 board service year, which units vested immediately and will settle in shares of our common stock on the third anniversary of the date of the grant. In March 2015, following the appointment of a new member of our Board of Directors, we made an initial grant of 1,311 restricted stock units to that director, which units vested immediately, but will not settle until her separation from the Board, as well as a prorated annual grant of 526 restricted stock units for the 2014-2015 board service year, which units vested immediately, but will not settle until the earlier of three years from the date of grant or her separation from the board. Also, we granted 306,968 performance-based restricted stock units to certain of our senior officers; the vesting of these restricted stock units is contingent on our achievement of a specified one -year performance goal for the year ending December 31, 2015 . Provided the goal is achieved, the performance-based restricted stock units will vest ratably over a three -year period from the grant date. The actual number of performance-based restricted stock units that could vest will range from 0% to 200% of the 306,968 units granted, depending on our level of achievement with respect to the performance goal. In the six months ended June 30, 2014 , we granted 1,280,028 restricted stock units subject to time-vesting, of which 944,590 will vest and be settled ratably over a three -year period from the grant date, 52,971 will vest 100% on the fifth anniversary of the grant date and 10,652 will vest 100% on the third anniversary of the grant date. In addition, we granted 271,815 performance-based restricted stock units to certain of our senior officers. Based on our level of achievement with respect to the target performance goal for the year ended December 31, 2014, a total of 538,837 performance-based restricted stock units (or 200% of the initial grant) will vest ratably over a three -year period from the grant date. At June 30, 2015 , there were $138 million of total unrecognized compensation costs related to restricted stock units. These costs are expected to be recognized over a weighted average period of 2.6 years.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2015
EQUITY
EQUITY	NOTE 8. EQUITY Changes in Shareholders’ Equity The following table shows the changes in consolidated equity during the six months ended June 30, 2015 and 2014 (dollars in millions, share amounts in thousands): Tenet Healthcare Corporation Shareholders’ Equity Accumulated Common Stock Additional Other Shares Issued Par Paid-in Comprehensive Accumulated Treasury Noncontrolling Outstanding Amount Capital Loss Deficit Stock Interests Total Equity Balances at December 31, 2014 $ $ $ $ $ $ $ Net income — — — — — Distributions paid to noncontrolling interests — — — — — — Contributions from noncontrolling interests — — — — — — Other comprehensive income — — — — — — Purchases (sales) of businesses and noncontrolling interests — — — — — Stock-based compensation expense and issuance of common stock — — — — Balances at June 30, 2015 $ $ $ $ $ $ $ Balances at December 31, 2013 $ $ $ $ $ $ $ Net income (loss) — — — — — Distributions paid to noncontrolling interests — — — — — — Contributions from noncontrolling interests — — — — — — Other comprehensive income — — — — — — Purchases (sales) of businesses and noncontrolling interests — — — — — — Stock-based compensation expense and issuance of common stock — — — — — Balances at June 30, 2014 $ $ $ $ $ $ $ Changes in Redeemable Noncontrolling Interests in Equity of Consolidated Subsidiaries In June 2015, we formed a new joint venture by combining our interests in 49 freestanding ambulatory surgery centers and 20 freestanding imaging centers with the short-stay surgery center assets of USPI. We currently own 50.1% of the USPI joint venture. In connection with the formation of the USPI joint venture, we entered into a stockholders agreement pursuant to which we and our joint venture partners agreed to certain rights and obligations with respect to the governance of the joint venture. In addition, we entered into a put/call agreement (the “Put/Call Agreement”) that contains put and call options with respect to the equity interests in the joint venture held by our joint venture partners. Each year starting in 2016, our joint venture partners must put to us at least 12.5% , and may put up to 25% , of the equity held by them in the joint venture immediately after the closing. In each year that our joint venture partners are to deliver a put and do not put the full 25% of the USPI joint venture’s shares allowable, we may call the difference between the number of shares our joint venture partners put and the maximum number of shares they could have put that year. In addition, the Put/Call Agreement contains certain other call options pursuant to which we will have the ability to acquire up to 100% of the voting common stock of the USPI joint venture by 2020. In the event of a put by our joint venture partners, we will have the ability to choose whether to settle the purchase price in cash or shares of our common stock and, in the event of a call by us, our joint venture partners will have the ability to choose whether to settle the purchase price in cash or shares of our common stock. Based on the nature of this put/call structure, the minority shareholder’s interest in the USPI joint venture is classified as redeemable noncontrolling interests in our Condensed Consolidated Balance Sheet at June 30, 2015. As a result of this transaction, we recorded approximately $1.33 billion of redeemable noncontrolling interests. When we acquired Vanguard Health Systems, Inc. (“Vanguard”) in October 2013, we obtained a 51% controlling interest in a limited liability company that held the assets and liabilities of Valley Baptist Health System (“Valley Baptist”), which consists of two hospitals in Brownsville and Harlingen, Texas. The remaining 49% noncontrolling interest in the joint venture was held by the former owner of Valley Baptist (the “seller”). The joint venture operating agreement included a put option that would allow the seller to require us to purchase all or a portion of the seller’s remaining noncontrolling interest in the limited liability company at certain specified time periods. In connection with the seller’s exercise and the settlement of the put option, we acquired the remaining 49% noncontrolling interest from the seller on February 11, 2015 in exchange for approximately $254 million in cash, which was applied to and reduced our redeemable noncontrolling interests, with the difference between the payment and the carrying value of approximately $270 million recorded as additional paid-in capital. The redemption value of the put option was calculated pursuant to the terms of the operating agreement based on the operating results and the debt of the joint venture. As a result, we now own 100% of Valley Baptist. In January 2015, Conifer announced a 10 -year extension and expansion of its agreement with Catholic Health Initiatives (“CHI”) to provide patient access, revenue integrity and patient financial services to 92 CHI hospitals through 2032. At that time and as a result of CHI’s relationship with Tenet, CHI received an increase in its minority ownership position in Conifer Health Solutions, LLC to approximately 23.8% , resulting in an increase in our redeemable noncontrolling interests of approximately $47 million. The following table shows the changes in redeemable noncontrolling interests in equity of consolidated subsidiaries during the six months ended June 30, 2015 and 2014 : Six Months Ended June 30, 2015 2014 Balances at beginning of period $ $ Net income Distributions paid to noncontrolling interests Contributions from noncontrolling interests Purchases and sales of businesses and noncontrolling interests, net — Balances at end of period $ $

PROPERTY AND PROFESSIONAL AND G

PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE	6 Months Ended
	Jun. 30, 2015
PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE
PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE	NOTE 9. PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE Property Insurance We have property, business interruption and related insurance coverage to mitigate the financial impact of catastrophic events or perils that is subject to deductible provisions based on the terms of the policies. These policies are on an occurrence basis. Professional and General Liability Reserves At June 30, 2015 and December 31, 2014 , the aggregate current and long-term professional and general liability reserves in our accompanying Condensed Consolidated Balance Sheets were approximately $750 million and $681 million, respectively. These reserves include the reserves recorded by our captive insurance subsidiaries and our self-insured retention reserves recorded based on actuarial 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. We estimated the reserves for losses and related expenses using expected loss-reporting patterns discounted to their present value under a risk-free rate approach using a Federal Reserve seven -year maturity rate of 2.07% at June 30, 2015 and 1.97% at December 31, 2014 . If the aggregate limit of any of our professional and general liability policies is exhausted, in whole or in part, it could deplete or reduce the limits available to pay any other material claims applicable to that policy period. Included in other operating expenses, net, in the accompanying Condensed Consolidated Statements of Operations is malpractice expense of $147 million and $127 million for the six months ended June 30, 2015 and 2014 , respectively.

CLAIMS AND LAWSUITS

CLAIMS AND LAWSUITS	6 Months Ended
	Jun. 30, 2015
CLAIMS AND LAWSUITS
CLAIMS AND LAWSUITS	NOTE 10. CLAIMS AND LAWSUITS We operate in a highly regulated and litigious industry. As a result, we commonly become involved in disputes, litigation and regulatory matters incidental to our operations, including governmental investigations, personal injury lawsuits, employment claims and other matters arising out of the normal conduct of our 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. If a loss on a material matter is reasonably possible and estimable, we disclose an estimate of the loss or a range of loss. In cases where we have not disclosed an estimate, we have concluded that the loss is either not reasonably possible or the loss, or a range of loss, is not reasonably estimable, based on available information. Governmental Reviews and Lawsuits 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. The following matters, which have been previously reported, are pending. · Clinica de la Mama Investigations and Qui Tam Action— We received a subpoena in May 2012 from the Office of Inspector General (“OIG”) of U.S. Department of Health and Human Services in Atlanta seeking documents from January 2004 through May 2012 related to the relationship that certain of our Georgia and South Carolina hospitals had with Hispanic Medical Management, Inc. (“HMM”). HMM was an unaffiliated entity that owned and operated clinics that provided, among other things, prenatal care predominantly to uninsured patients. The hospitals contracted with HMM for translation, marketing, management and Medicaid eligibility determination services. The civil investigation is being conducted by the Civil Division of the U.S. Department of Justice (“DOJ”), the U.S. Attorney’s Office for the Middle District of Georgia and the Georgia Attorney General’s Office, while a parallel criminal investigation is being conducted by the Criminal Division of the DOJ and the U.S. Attorney’s Office for the Northern District of Georgia. The investigations arose out of a qui tam action captioned United States of America, ex. rel. Ralph D. Williams v. Health Management Associates, Inc., et al. filed in the U.S. District Court for the Middle District of Georgia. We and four of our hospital subsidiaries are defendants in the qui tam action, which alleges that the arrangements the hospitals had with HMM violated the federal and state anti-kickback statutes and false claims acts. Both the Georgia Attorney General’s Office, on behalf of the State of Georgia, and the U.S. Attorney’s Office, on behalf of the United States, have intervened in the qui tam action. We submitted answers to the complaints filed by the relator, the State of Georgia and the United States in July 2014 following the court’s denial of our motions to dismiss in June 2014. This civil matter had been stayed since July 2014 pending further proceedings in the criminal case described below; however, on June 22, 2015, the court entered an order partially lifting the stay and allowing limited discovery to proceed. In a Bill of Information filed on July 23, 2014 with the U.S. District Court for the Northern District of Georgia, Atlanta Division, the U.S. Attorney for that District asserted charges of one count of criminal conspiracy against a former owner of HMM (a non-employee of Tenet) related to the agreements between HMM and the Tenet hospitals described above. In a separate Bill of Information also filed with the court on July 23, 2014, the U.S. Attorney asserted charges of one count of criminal conspiracy against a former employee of a Tenet hospital, but such charges relate to an unaffiliated entity. On April 10, 2015, the DOJ informed us that our four hospital subsidiaries that are defendants in the qui tam action have also been designated as targets of the government’s criminal investigation. On May 6, 2015, we received a grand jury subpoena pursuant to which the DOJ informed us that it is seeking additional documents pertaining to the four hospitals, as well as other hospitals in our Southern region. These are hospitals that might have had interactions during the period from January 2000 through May 2015 with certain individuals who are targets of the pending criminal investigation. We are in the process of producing responsive documents to this subpoena. As previously disclosed, if we or our subsidiaries are determined to have violated the anti-kickback statutes in connection with the civil matter discussed above, the government could require us to reimburse related government program payments received during the subject period and assess civil monetary penalties including treble damages. If we or our subsidiaries are determined in the criminal proceeding to have violated the anti-kickback statutes, the sanctions could also include exclusion from participation in federal healthcare programs or criminal sanctions against current or former employees of our hospital subsidiary companies or the hospital companies themselves. Because these criminal investigations and proceedings are at an early stage, it is impossible at this time to predict with any certainty the terms, or potential impact on our business or financial condition, of any potential resolution of these matters. We will continue to vigorously defend against the government’s allegations. Management has established a reserve of approximately $20 million to reflect the low end of the range of probable liability in connection with the civil matter discussed above. However, changes in the reserve may be required in the future as additional information becomes available, and the ultimate amount required to resolve such matter could materially exceed the reserve. The following matters, which have been previously reported, have recently been resolved. · Implantable Cardioverter Defibrillators (“ICDs”) — Fifty-six of our hospitals have been subject to a DOJ review commenced in March 2010 to determine whether ICD procedures performed at the hospitals from 2002 to 2010 complied with Medicare coverage requirements. In July 2015, we reached final agreement with the DOJ to resolve the investigation for $12.1 million, which was fully reserved as of June 30, 2015 and paid on August 3, 2015. · Review of Conifer’s Debt Collection Activities —Syndicated Office Systems, LLC, a wholly owned indirect subsidiary of Conifer Health Solutions, LLC doing business under the name Central Financial Control (“CFC”), in August 2013 and July 2014 received Civil Investigative Demands from the U.S. Consumer Financial Protection Bureau (“CFPB”). In January 2015, CFC began discussions with the CFPB to address the agency’s concerns that in limited instances CFC had not fully complied with certain notification requirements under federal consumer protection laws. On June 18, 2015, CFC stipulated to a Consent Order issued by the CFPB to resolve the matter. Under the Consent Order, CFC must implement plans for consumer redress and compliance with federal consumer protection laws and must provide periodic reports to the CFPB over five years. CFC also agreed to forgive approximately $ 0.3 million in consumer debt and to pay $5.6 million under the Consent Order. Based on the status of discussions with the CFPB, in May 2015 management increased the reserve previously established for this matter from $1.7 million at December 31, 2014 to $5.2 million as of June 30, 2015. Antitrust Class Action Lawsuits Filed by Registered Nurses in Detroit and San Antonio In Cason-Merenda, et al. v. VHS of Michigan, Inc. d/b/a Detroit Medical Center, et al. , filed in December 2006 in the U.S. District Court for the Eastern District of Michigan, a certified class composed of the registered nurses (exclusive of supervisory, managerial and advanced practical nurses) employed by eight unaffiliated Detroit-area hospital systems allege those hospital systems, including Detroit Medical Center (“DMC”), violated Section §1 of the federal Sherman Act by exchanging compensation-related information among themselves in a manner that has reduced competition and suppressed the wages paid to such nurses. A subsidiary of Vanguard acquired DMC in January 2011, and we acquired Vanguard in October 2013. All of the defendant hospital systems, other than DMC, have settled. The matter is now set for trial to commence in September 2015. Absent settlement of this matter, we will continue to vigorously defend ourselves against the plaintiffs’ allegations. We cannot predict with any certainty the terms of any potential resolution of this matter. In Maderazo, et al. v. VHS San Antonio Partners, L.P. d/b/a Baptist Health Systems, et al. , filed in June 2006 in the U.S. District Court for the Western District of Texas, a purported class of registered nurses employed by three unaffiliated San Antonio-area hospital systems allege those hospital systems, including Baptist Health System, and other unidentified San Antonio regional hospitals violated Section §1 of the federal Sherman Act by conspiring to depress nurses’ compensation and exchanging compensation-related information among themselves in a manner that reduced competition and suppressed the wages paid to such nurses. The lawsuit was filed by the same group of class action attorneys who filed several similar cases around the country in the same time frame, including one against DMC in Detroit, as discussed in the Cason-Merenda proceeding described above. The suit seeks unspecified damages (subject to trebling under federal law), interest, costs and attorneys’ fees. The parties have engaged in discovery related to the issue of class certification, and the plaintiffs filed a motion to certify the class in April 2008. The case has been stayed since that time. On July 22, 2015, the court granted plaintiffs’ July 2013 motion to lift the stay and re-open discovery in this matter. Because these proceedings are at an early stage, it is impossible at this time to predict their outcome with any certainty; however, we believe that the ultimate resolution of this matter will not have a material effect on our business, financial condition or results of operations. We will continue to seek to defeat class certification and vigorously defend ourselves against the plaintiffs’ allegations. Ordinary Course Matters We are also subject to other claims and lawsuits arising in the ordinary course of business, including potential claims related to, among other things, the care and treatment provided at our hospitals and outpatient facilities, the application of various federal and state labor laws, tax audits and other matters. Although the results of these claims and lawsuits cannot be predicted with certainty, we believe that the ultimate resolution of these ordinary course claims and lawsuits will not have a material effect on our business or financial condition. In addition, in October 2014, we received court approval of a final agreement to settle a previously disclosed class action lawsuit captioned Doe, et al. v. Jo Ellen Smith Medical Foundation , which was filed in the Civil District Court for the Parish of Orleans in Louisiana in March 1997. The plaintiffs pursued a claim for tortious invasion of privacy due to the fact that in April 1996 patient identifying records from a psychiatric hospital we closed in 1995 were temporarily placed in an unsecure location while the hospital was undergoing renovations. The court certified a class of over 5,000 persons; however, only eight individuals (in addition to the two plaintiffs) were identified in the class certification process. The plaintiffs asserted each member of the class is entitled to common damages under a theory of presumed “common damage” regardless of whether or not any members of the class were actually harmed or even aware of the incident. To avoid protracted litigation, the parties settled this matter in June 2014 for a maximum potential payment of $32.5 million, subject to the number and type of claims asserted by the class members. The payment for all undisputed common damages claims was made in April 2015, and a payment representing a portion of the attorneys’ fees was paid in June 2015. The payment for the remaining attorneys’ fees and administrative costs, as well as the undisputed individual damages claims, was made on August 3, 2015. We had made an initial deposit of $5.5 million into an escrow account in late November 2014 and, based on low class participation as of March 31, 2015 (the end of the claims period), management reduced the reserve for this matter from $11.5 million at December 31, 2014 to $8.0 million, recorded in discontinued operations, to reflect its then-current estimate of probable remaining liability. In total, we paid $13.6 million to settle this matter. 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. The table below presents reconciliations of the beginning and ending liability balances in connection with legal settlements and related costs recorded during the six months ended June 30, 2015 and 2014 : Balances at Litigation and Balances at Beginning Investigation Cash End of of Period Costs Payments Other Period Six Months Ended June 30, 2015 Continuing operations $ $ $ $ $ Discontinued operations — $ $ $ $ $ Six Months Ended June 30, 2014 Continuing operations $ $ $ $ $ Discontinued operations — $ $ $ $ $ For the six months ended June 30, 2015 and 2014 , we recorded costs of $17 million and $15 million, respectively, in continuing operations, primarily related to costs associated with various legal proceedings and governmental reviews. During the six months ended June 30, 2015 , we reduced a previously established reserve for a legal matter in discontinued operations by approximately $3 million based on updated claims information.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2015
INCOME TAXES
INCOME TAXES	NOTE 11. INCOME TAXES During the six months ended June 30, 2015, we recorded an income tax benefit of $11 million in continuing operations on pre-tax earnings of $37 million. The recorded benefit differs from taxes calculated at the statutory rate primarily due to state income tax expense of approximately $7 million, tax benefits of $ 22 million related to net income attributable to noncontrolling partnership interests, which is excluded from the computation of the provision for income taxes, discrete tax benefits of $17 million related to the amendment of certain prior year tax returns and tax expense of approximately $8 million related to other permanent tax differences. During the six months ended June 30, 2015 , we increased our estimated liabilities for uncertain tax positions by $1 million, net of related deferred tax assets. The total amount of unrecognized tax benefits at June 30, 2015 was $ 38 million, of which $31 million, if recognized, would impact our effective tax rate and income tax expense (benefit) from continuing operations. Our practice is to recognize interest and penalties related to income tax matters in income tax expense in our consolidated statements of operations. Total accrued interest and penalties on unrecognized tax benefits at June 30, 2015 were $5 million, all of which related to continuing operations. At June 30, 2015 , approximately $ 3 million of unrecognized federal and state tax benefits, as well as reserves for interest and penalties, may decrease 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.

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2015
LOSS PER COMMON SHARE
LOSS PER COMMON SHARE	NOTE 12. LOSS PER COMMON SHARE The table below is a reconciliation of the numerators and denominators of our basic and diluted loss per common share calculations for our continuing operations for the three and six months ended June 30, 2015 and 2014 . Net loss attributable to our common shareholders is expressed in millions and weighted average shares are expressed in thousands. Loss Attributable to Common Weighted Shareholders Average Shares Per-Share (Numerator) (Denominator) Amount Three Months Ended June 30, 2015 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ Three Months Ended June 30, 2014 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ Six Months Ended June 30, 2015 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ Six Months Ended June 30, 2014 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ All potentially dilutive securities were excluded from the calculation of diluted loss per share for the three and six months ended June 30, 2015 and 2014 because we did not report income from continuing operations in those periods. In circumstances where we do not have income from continuing operations, the effect of stock options and other potentially dilutive securities is anti-dilutive, that is, a loss from continuing operations has the effect of making the diluted loss per share less than the basic loss per share. Had we generated income from continuing operations in those periods, the effect (in thousands) of employee stock options, restricted stock units and deferred compensation units on the diluted shares calculation would have been an increase in shares of 2,673 and 2,423 for the three and six months ended June 30, 2015, respectively, and 2,123 and 2,053 for the three and six months ended June 30, 2014, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 13. FAIR VALUE MEASUREMENTS Our financial assets and liabilities recorded at fair value on a recurring basis primarily relate to investments in available-for-sale securities held by our captive insurance subsidiaries. The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis. The following tables also indicate the fair value hierarchy of the valuation techniques we utilized to determine such fair values. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. We consider a security that trades at least weekly to have an active market. Fair values determined by Level 2 inputs utilize data points that are observable, such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Quoted Prices in Active Significant Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Investments June 30, 2015 (Level 1) (Level 2) (Level 3) Marketable securities — current $ — $ — $ — $ — Investments in Reserve Yield Plus Fund — — Marketable debt securities — noncurrent $ $ $ $ Quoted Prices in Active Significant Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Investments December 31, 2014 (Level 1) (Level 2) (Level 3) Marketable securities — current $ $ $ — $ — Investments in Reserve Yield Plus Fund — — Marketable debt securities — noncurrent $ $ $ $ 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. We are required to provide additional disclosure s about fair value measurements as part of our financial statements for each major category of assets and liabilities measured at fair value on a non-recurring basis. The following table presents this information as of June 30, 2015 and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair values. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities, which generally are not applicable to non-financial assets and liabilities. Fair values determined by Level 2 inputs utilize data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability and include situations where there is little, if any, market activity for the asset or liability, such as internal estimates of future cash flows. Quoted Prices in Active Significant Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs June 30, 2015 (Level 1) (Level 2) (Level 3) Long-lived assets held for sale $ $ — $ $ — As described in Note 3, we recorded a $14 7 million impairment charge for the write-down of assets held for sale to their estimated fair value, less estimated costs to sell, in the three months ended June 30, 2015. The fair value of our long-term debt is based on quoted market prices (Level 1). At June 30, 2015 and December 31, 2014 , the estimated fair value of our long-term debt was approximately 103.8% and 105.0% , respectively, of the carrying value of the debt.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2015
ACQUISITIONS
ACQUISITIONS	NOTE 14. ACQUISITIONS During the six months ended June 30, 2015 , we completed the transaction that combined our freestanding ambulatory surgery and imaging center assets with USPI’s short-stay surgery center assets into a new joint venture. We also completed the acquisition of Aspen, a network of nine private hospitals and clinics in the United Kingdom. Additionally, we acquired majority interests in seven ambulatory surgery centers (our interests in all of which were contributed to the USPI joint venture) and various physician practice entities. The fair value of the consideration conveyed in the acquisitions (the “purchase price”) was $636 million. We are required to allocate the purchase prices of the acquired businesses to assets acquired or liabilities assumed and, if applicable, noncontrolling interests based on their fair values. The excess of the purchase price allocation over those fair values is recorded as goodwill. We are in process of finalizing the purchase price allocations, including valuations of the acquired property and equipment, other intangible assets, investments in affiliates and noncontrolling interests for our recent acquisitions; therefore, those purchase price allocations are subject to adjustment once the valuations are completed. Preliminary purchase price allocations for all acquisitions made during the six months ended June 30, 2015 are as follows: Current assets $ Property and equipment Other intangible assets Goodwill Other long-term assets Current liabilities Deferred taxes — long term Other long-term liabilities Redeemable noncontrolling interests in equity of consolidated subsidiaries Noncontrolling interests Cash paid, net of cash acquired $ The goodwill generated from these transactions, the majority of which 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. Approximately $36 million in transaction costs related to prospective and closed acquisitions were expensed during the six months ended June 30, 2015 , and are included in impairment and restructuring charges, and acquisition-related costs in the accompanying Condensed Consolidated Statement of Operations . USPI Joint Venture and Acquisition of Aspen Effective June 16, 2015, we entered into the USPI joint venture, of which we own 50.1% . The joint venture has interests in 249 ambulatory surgery centers, 18 short-stay surgical hospitals and 20 imaging centers in 29 states. We refinanced approximately $1.5 billion of existing USPI debt, which was allocated to the joint venture throu gh an intercompany loan, and paid approximately $424 million to align the respective valuations of the assets contributed to the joint venture. We also completed the Aspen acquisition for approximately $226 million. The preliminary purchase price allocations for our USPI joint venture and Aspen acquisition are as follows: Current assets $ Property and equipment Other intangible assets Goodwill Other long-term assets Current liabilities Deferred taxes — long term Other long-term liabilities Redeemable noncontrolling interests in equity of consolidated subsidiaries Noncontrolling interests Cash paid, net of cash acquired $ Pro Forma Information – Unaudited The following table provides certain pro forma information for Tenet as if the USPI joint venture and Aspen acquisition had occurred at the beginning of the year ended December 31, 2014. The net income of USPI for the three and six months ended June 30, 2015 was adjusted by $30 million to remove a nonrecurring loss on exti nguishment of debt. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net operating revenues $ $ $ $ Equity in earnings of unconsolidated affiliates $ $ $ $ Net loss attributable to common shareholders $ $ $ $ Net loss per share attributable to common shareholders $ $ $ $

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2015
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 15. SEGMENT INFORMATION In the three months ended June 30, 2015, we began reporting Ambulatory Care as a separate reportable business segment. Previously, our business consisted of our Hospital Operations and other segment and our Conifer segment. Effective June 16, 2015, we completed the joint venture transaction that combined our freestanding ambulatory surgery and imaging center assets with USPI’s short-stay surgery center assets. We contributed our interests in 49 ambulatory surgery centers and 20 imaging centers, which had previously been included in our Hospital Operations and other segment, to the joint venture. The USPI joint venture has interests in 249 ambulatory surgery centers, 18 short-stay surgical hospitals and 20 imaging centers in 29 states. We also completed the acquisition of Aspen effective June 16, 2015, which includes nine private hospitals and clinics in the United Kingdom. Our Ambulatory Care segment is comprised of the operations of our USPI joint venture and Aspen facilities. The factors for determining the reportable segments include the manner in which management evaluates operating performance combined with the nature of the individual business activities. Our core business is Hospital Operations and other, which is focused on operating acute care hospitals, urgent care facilities and health plans. We also own various related healthcare businesses. At June 30, 2015 , our subsidiaries operated 80 hospitals ( one of which is temporarily closed for repairs), with a total of 20,826 licensed beds, primarily serving urban and suburban communities in 14 states, and six health plans, as well as hospital-based outpatient centers, freestanding emergency departments and freestanding urgent care centers. We provide healthcare business process services in the areas of revenue cycle management and technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, self-insured organizations and health plans under our Conifer subsidiary. At June 30, 2015 , Conifer provided services to approximately 800 Tenet and non-Tenet hospitals and other clients nationwide. 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: June 30, December 31, 2015 2014 Assets: Hospital Operations and other $ $ Conifer Ambulatory Care Total $ $ Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Capital expenditures: Hospital Operations and other $ $ $ $ Conifer Ambulatory Care Total $ $ $ $ Net Operating revenues: Hospital Operations and other $ $ $ $ Conifer Tenet Other customers Total Conifer revenues Ambulatory Care Intercompany eliminations Total $ $ $ $ Adjusted EBITDA: Hospital Operations and other $ $ $ $ Conifer Ambulatory Care Total $ $ $ $ Depreciation and amortization: Hospital Operations and other $ $ $ $ Conifer Ambulatory Care Total $ $ $ $ Adjusted EBITDA $ $ $ $ Depreciation and amortization Impairment and restructuring charges, and acquisition-related costs Litigation and investigation costs Interest expense Investment earnings (losses) — — Net income (loss) from continuing operations before income taxes $ $ $ $

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2015
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. At June 30, 2015 , we operated 80 hospitals ( one of which is temporarily closed for repairs), 18 short-stay surgical hospitals, over 400 outpatient centers and nine facilities in the United Kingdom through our subsidiaries, partnership s and joint ventures, including USPI Holding Company, Inc. (“USPI joint venture”). The results of 164 of these facilities, in which we hold noncontrolling interests, are recorded using the equity method of accounting. Our Conifer Holdings, Inc. (“Conifer”) subsidiary provides healthcare business process services in the areas of revenue cycle management and technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, self-insured organizations and health plans. Effective June 16, 2015, we completed the transaction that combined our interests in 49 freestanding ambulatory surgery centers and 20 freestanding imaging centers with all of the short-stay surgery center assets held by United Surgical Partners International, Inc. (“USPI”) into our new USPI joint venture. We also refinanced approximately $1.5 billion of existing USPI debt and paid approximately $424 million to align the respective valuations of the assets contributed to the joint venture. We currently own 50.1% of the USPI joint venture. In addit i on, we completed the acquisition of European Surgical Partners Ltd. (“Aspen”) for approximately $226 million on June 16, 2015. Aspen has nine private hospitals and clinics in the United Kingdom. This quarterly report supplements our Annual Report on Form 10-K for the year ended December 31, 2014 (“Annual Report”). As permitted by the Securities and Exchange Commission for interim reporting, we have omitted certain notes and disclosures that substantially duplicate those in our Annual Report. For further information, refer to the audited Consolidated Financial Statements and notes included in our Annual Report. Unless otherwise indicated, all financial and statistical data included in these notes to our Condensed Consolidated Financial Statements relate to our continuing operations, with dollar amounts expressed in millions (except per-share amounts). Certain prior-year amounts have been adjusted to conform to the current-year presentation, primarily due to the USPI joint venture, acquisition of Aspen and the formation of our new Ambulatory Care separate reportable business segment. Although the Condensed Consolidated Financial Statements and related notes within this document are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. In preparing our financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), we are required to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. Financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public. Operating results for the three and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: 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; changes in Medicare and Medicaid regulations; Medicaid and other supplemental funding levels set by the states in which we operate; the timing of approval by the Centers for Medicare and Medicaid Services of Medicaid provider fee revenue programs; trends in patient accounts receivable collectability and associated provisions for doubtful accounts; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; the number of covered lives managed by our health plans and the plans’ ability to effectively manage medical costs; the timing of when we meet the criteria to recognize electronic health record incentives; impairment of long-lived assets and goodwill; restructuring charges; acquisition-related costs; losses, costs and insurance recoveries related to natural disasters; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; 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 or losses from early extinguishment of debt; and changes in occupancy levels and patient volumes. Factors that affect patient volumes and, thereby, the results of operations at our hospitals and related healthcare facilities include, but are not limited to: the business environment, economic conditions and demographics of local communities in which we operate; the number of uninsured and underinsured individuals in local communities treated at our hospitals; seasonal cycles of illness; climate and weather conditions; physician recruitment, retention and attrition; advances in technology and treatments that reduce length of stay; local healthcare competitors; managed care contract negotiations or terminations; the number of patients with high-deductible health insurance plans; any unfavorable publicity about us, which impacts our relationships with physicians and patients; changes in healthcare regulations and the participation of individual states in federal programs; and the timing of elective procedures. These considerations apply to year-to-year comparisons as well.
Foreign Currency Transactions and Translations Policy	Translation of Foreign Currencies The accounts of Aspen were measured in its local currency (the pound sterling ) and then translated into U.S. dollars. All assets and liabilities were translated using the current rate of exchange at the balance sheet date. Results of operations were translated using the average rates prevailing throughout the period of operations. Translation gains or losses resulting from changes in exchange rates are accumulated in shareholders’ equity.
Net Operating Revenues before Provision for Doubtful Accounts	Net Operating Revenues Before Provision for Doubtful Accounts We recognize net operating revenues before provision for doubtful accounts in the period in which our services are performed. Net operating revenues before provision for doubtful accounts primarily consist of net patient service revenues that are recorded based on established billing rates (i.e., gross charges), less estimated discounts for contractual and other allowances, principally for patients covered by Medicare, Medicaid, managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients (“Compact”) and other uninsured discount and charity programs .
Cash and Cash Equivalents	Cash and Cash Equivalents We treat highly liquid investments with original maturities of three months or less as cash equivalents. Cash and cash equivalents were approximately $299 million and $193 million at June 30, 2015 and December 31, 2014 , respectively. At June 30, 2015 and December 31, 2014 , our book overdrafts were approximately $223 million and $264 million, respectively, which were classified as accounts payable. At June 30, 2015 and December 31, 2014 , approximately $128 million and $104 million, respectively, of total cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets were intended for the operations of our captive insurance subsidiaries. Also at June 30, 2015 and December 31, 2014 , we had $97 million and $150 million, respectively, of property and equipment purchases accrued for items received but not yet paid. Of these amounts, $58 million and $112 million, respectively, were included in accounts payable. During the six months ended June 30, 2015 and 2014 , we entered into non-cancellable capital leases excluding those of acquired businesses of approximately $92 million and $60 million, respectively, primarily for buildings and equipment.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
	Jun. 30, 2015
BASIS OF PRESENTATION
Schedule of sources of net operating revenues before provision for doubtful accounts	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 General Hospitals: Medicare $ $ $ $ Medicaid Managed care Indemnity, self-pay and other Acute care hospitals — other revenue Other: Other operations Net operating revenues before provision for doubtful accounts $ $ $ $
Schedule of other intangible assets	Gross Carrying Accumulated Net Book Amount Amortization Value At June 30, 2015: Capitalized software costs $ $ $ Long-term debt issuance costs Trade names — Contracts Other Total $ $ $ Gross Carrying Accumulated Net Book Amount Amortization Value At December 31, 2014: Capitalized software costs $ $ $ Long-term debt issuance costs Trade names — Contracts Other Total $ $ $
Schedule of estimated future amortization of intangibles with finite useful lives	Years Ending December 31, Later Total 2015 2016 2017 2018 2019 Years Amortization of intangible assets $ $ $ $ $ $ $

ACCOUNTS RECEIVABLE AND ALLOW24

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)	6 Months Ended
	Jun. 30, 2015
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS
Schedule Of Components Of Accounts Receivable	June 30, December 31, 2015 2014 Continuing operations: Patient accounts receivable $ $ Allowance for doubtful accounts Estimated future recoveries from accounts assigned to our Conifer subsidiary Net cost reports and settlements payable and valuation allowances Discontinued operations Accounts receivable, net $ $
Schedule of estimated costs for charity care and self-pay patients	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Estimated costs for: Self-pay patients $ $ $ $ Charity care patients $ $ $ $ DSH and other supplemental revenues $ $ $ $

ASSETS AND LIABILITIES HELD F25

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	6 Months Ended
	Jun. 30, 2015
ASSETS AND LIABILITIES HELD FOR SALE
Schedule of assets and liabilities classified as held for sale	Accounts receivable $ Other current assets Property and equipment Goodwill Other long-term assets Current liabilities Long-term liabilities Net assets held for sale $

SHORT-TERM BORROWINGS AND LON26

SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2015
SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS
Summary of long-term debt	June 30, December 31, 2015 2014 Senior notes: 5%, due 2019 $ $ 5 1 / 2 %, due 2019 6 3 / 4 %, due 2020 8%, due 2020 8 1 / 8 %, due 2022 6 3 / 4 %, due 2023 — 6 7 / 8 %, due 2031 Senior secured notes: 6 1 / 4 %, due 2018 4 3 / 4 %, due 2020 6%, due 2020 Floating % due 2020 — 4 1 / 2 %, due 2021 4 3 / 8 %, due 2021 Credit facility due 2016 Capital leases and mortgage notes Unamortized note discounts and premium Total long-term debt Less current portion Long-term debt, net of current portion $ $

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2015
EMPLOYEE BENEFIT PLANS
Summary of stock option activity	Weighted Average Exercise Price Aggregate Weighted Average Options Per Share Intrinsic Value Remaining Life (In Millions) Outstanding at December 31, 2014 $ Granted — — Exercised Forfeited/Expired Outstanding at June 30, 2015 $ $ years Vested and expected to vest at June 30, 2015 $ $ years Exercisable at June 30, 2015 $ $ years
Summary of information about stock options by range of exercise prices	Options Outstanding Options Exercisable Weighted Average Number of Remaining Weighted Average Number of Weighted Average Range of Exercise Prices Options Contractual Life Exercise Price Options Exercise Price $0.00 to $4.569 years $ $ $4.57 to $25.089 years $25.09 to $32.569 years $32.57 to $42.089 years — — years $ $
Summary of restricted stock unit activity	Restricted Stock Weighted Average Grant Units Date Fair Value Per Unit Unvested at December 31, 2014 $ Granted Vested Forfeited Unvested at June 30, 2015 $

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2015
EQUITY
Schedule Of Changes In Consolidated Equity	Tenet Healthcare Corporation Shareholders’ Equity Accumulated Common Stock Additional Other Shares Issued Par Paid-in Comprehensive Accumulated Treasury Noncontrolling Outstanding Amount Capital Loss Deficit Stock Interests Total Equity Balances at December 31, 2014 $ $ $ $ $ $ $ Net income — — — — — Distributions paid to noncontrolling interests — — — — — — Contributions from noncontrolling interests — — — — — — Other comprehensive income — — — — — — Purchases (sales) of businesses and noncontrolling interests — — — — — Stock-based compensation expense and issuance of common stock — — — — Balances at June 30, 2015 $ $ $ $ $ $ $ Balances at December 31, 2013 $ $ $ $ $ $ $ Net income (loss) — — — — — Distributions paid to noncontrolling interests — — — — — — Contributions from noncontrolling interests — — — — — — Other comprehensive income — — — — — — Purchases (sales) of businesses and noncontrolling interests — — — — — — Stock-based compensation expense and issuance of common stock — — — — — Balances at June 30, 2014 $ $ $ $ $ $ $
Schedule of changes in redeemable noncontrolling interests in equity of consolidated subsidiaries	Six Months Ended June 30, 2015 2014 Balances at beginning of period $ $ Net income Distributions paid to noncontrolling interests Contributions from noncontrolling interests Purchases and sales of businesses and noncontrolling interests, net — Balances at end of period $ $

CLAIMS AND LAWSUITS (Tables)

CLAIMS AND LAWSUITS (Tables)	6 Months Ended
	Jun. 30, 2015
CLAIMS AND LAWSUITS
Reconciliations Of Legal Settlements And Related Costs	Balances at Litigation and Balances at Beginning Investigation Cash End of of Period Costs Payments Other Period Six Months Ended June 30, 2015 Continuing operations $ $ $ $ $ Discontinued operations — $ $ $ $ $ Six Months Ended June 30, 2014 Continuing operations $ $ $ $ $ Discontinued operations — $ $ $ $ $

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
LOSS PER COMMON SHARE
Schedule of reconciliation of numerators and denominators of our basic and diluted loss per common share	Loss Attributable to Common Weighted Shareholders Average Shares Per-Share (Numerator) (Denominator) Amount Three Months Ended June 30, 2015 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ Three Months Ended June 30, 2014 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ Six Months Ended June 30, 2015 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $ Six Months Ended June 30, 2014 Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share $ $ Effect of dilutive stock options, restricted stock units and deferred compensation units — — — Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share $ $

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
Schedule of assets and liabilities measured at fair value on a recurring basis	Quoted Prices in Active Significant Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Investments June 30, 2015 (Level 1) (Level 2) (Level 3) Marketable securities — current $ — $ — $ — $ — Investments in Reserve Yield Plus Fund — — Marketable debt securities — noncurrent $ $ $ $ Quoted Prices in Active Significant Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Investments December 31, 2014 (Level 1) (Level 2) (Level 3) Marketable securities — current $ $ $ — $ — Investments in Reserve Yield Plus Fund — — Marketable debt securities — noncurrent $ $ $ $
Schedule of assets and liabilities measured at fair value on a non-recurring basis	Quoted Prices in Active Significant Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs June 30, 2015 (Level 1) (Level 2) (Level 3) Long-lived assets held for sale $ $ — $ $ —

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Business Acquisition
Schedule of pro forma financial information as if USPI joint venture and Aspen acquisition had occurred at the beginning of the year	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net operating revenues $ $ $ $ Equity in earnings of unconsolidated affiliates $ $ $ $ Net loss attributable to common shareholders $ $ $ $ Net loss per share attributable to common shareholders $ $ $ $
Series of individual business acquisitions
Business Acquisition
Schedule of Preliminary purchase price allocation	Current assets $ Property and equipment Other intangible assets Goodwill Other long-term assets Current liabilities Deferred taxes — long term Other long-term liabilities Redeemable noncontrolling interests in equity of consolidated subsidiaries Noncontrolling interests Cash paid, net of cash acquired $
European Surgical Partners Ltd | United Surgical Partners International
Business Acquisition
Schedule of Preliminary purchase price allocation	Current assets $ Property and equipment Other intangible assets Goodwill Other long-term assets Current liabilities Deferred taxes — long term Other long-term liabilities Redeemable noncontrolling interests in equity of consolidated subsidiaries Noncontrolling interests Cash paid, net of cash acquired $

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
SEGMENT INFORMATION
Reconciliation of assets by reportable segment to consolidated assets	June 30, December 31, 2015 2014 Assets: Hospital Operations and other $ $ Conifer Ambulatory Care Total $ $
Reconciliation of other significant reconciling items from segments to consolidated	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Capital expenditures: Hospital Operations and other $ $ $ $ Conifer Ambulatory Care Total $ $ $ $ Net Operating revenues: Hospital Operations and other $ $ $ $ Conifer Tenet Other customers Total Conifer revenues Ambulatory Care Intercompany eliminations Total $ $ $ $ Adjusted EBITDA: Hospital Operations and other $ $ $ $ Conifer Ambulatory Care Total $ $ $ $ Depreciation and amortization: Hospital Operations and other $ $ $ $ Conifer Ambulatory Care Total $ $ $ $ Adjusted EBITDA $ $ $ $ Depreciation and amortization Impairment and restructuring charges, and acquisition-related costs Litigation and investigation costs Interest expense Investment earnings (losses) — — Net income (loss) from continuing operations before income taxes $ $ $ $

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	6 Months Ended
	Jun. 30, 2015Institution
BASIS OF PRESENTATION
Number of acute care hospitals operated by subsidiaries	80
Number of hospitals temporarily closed for repairs	1
Number of short-stay surgical hospitals	18
Number of outpatient centers	400
Number of outpatient centers recorded using equity method	164
Number of facilities owned by subsidiaries	9

BASIS OF PRESENTATION - Joint V

BASIS OF PRESENTATION - Joint Venture (Details) $ in Millions	Jun. 16, 2015USD ($)Institutionitem	Jun. 30, 2015USD ($)item
United Surgical Partners International
Business Acquisition
Payment contributed to joint venture	$ 424
Controlling interest acquired (as a percent)	50.10%
Number of ambulatory surgery centers	49	7
Number of diagnostic imaging centers | Institution	20
Assumed debt	$ 1,500
European Surgical Partners Ltd
Business Acquisition
Purchase price	$ 226
Number of private hospitals | Institution	9
European Surgical Partners Ltd | United Surgical Partners International
Business Acquisition
Purchase price		$ 636
USPI Entity
Business Acquisition
Number of ambulatory surgery centers | item	249
Number of diagnostic imaging centers | item	20

BASIS OF PRESENTATION - Revenue

BASIS OF PRESENTATION - Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	$ 4,844	$ 4,358	$ 9,631	$ 8,663
Medicare
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	850	850	1,748	1,693
Medicaid
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	349	379	734	670
Managed care
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	2,501	2,175	4,906	4,326
Indemnity, self-pay and other
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	407	356	821	788
Acute care hospitals - other revenue
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	13	18	28	37
Other operations
Supplemental payments and net operating revenues
Net operating revenues before provision for doubtful accounts	$ 724	$ 580	$ 1,394	$ 1,149

BASIS OF PRESENTATION - Cash an

BASIS OF PRESENTATION - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Cash and Cash Equivalents
Cash and cash equivalents	$ 299	$ 406	$ 193	$ 113
Accrued property and equipment purchases for items received but not yet paid	97		150
Non-cancellable capital leases primarily for buildings and equipment	92	$ 60
Accounts payable
Cash and Cash Equivalents
Book overdrafts classified as accounts payable	223		264
Accrued property and equipment purchases for items received but not yet paid	58		112
Captive insurance subsidiaries
Cash and Cash Equivalents
Cash and cash equivalents	$ 128		$ 104

BASIS OF PRESENTATION - Intangi

BASIS OF PRESENTATION - Intangible Assets Summary (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Other intangible assets
Gross Carrying Amount	$ 2,574	$ 1,949
Accumulated Amortization	(680)	(671)
Net Book Value	1,894	1,278
Capitalized software costs
Other intangible assets
Gross Carrying Amount	1,384	1,412
Accumulated Amortization	(561)	(586)
Net Book Value	823	826
Long-term debt issuance costs
Other intangible assets
Gross Carrying Amount	315	245
Accumulated Amortization	(65)	(49)
Net Book Value	250	196
Trade names
Other intangible assets
Gross Carrying Amount	106	106
Net Book Value	106	106
Contracts
Other intangible assets
Gross Carrying Amount	645	57
Accumulated Amortization	(15)	(6)
Net Book Value	630	51
Other
Other intangible assets
Gross Carrying Amount	124	129
Accumulated Amortization	(39)	(30)
Net Book Value	$ 85	$ 99

BASIS OF PRESENTATION - Amortiz

BASIS OF PRESENTATION - Amortization of Intangible Assets (Details) $ in Millions	Jun. 30, 2015USD ($)
Estimated future amortization of intangibles with finite useful lives
Total	$ 1,432
2,015	163
2,016	188
2,017	179
2,018	154
2,019	128
Later Years	$ 620

ACCOUNTS RECEIVABLE AND ALLOW40

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS - Components (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable and allowance for doubtful accounts
Accounts receivable, net	$ 2,505	$ 2,404
Continuing operations
Accounts receivable and allowance for doubtful accounts
Patient accounts receivable	3,305	3,178
Allowance for doubtful accounts	(898)	(851)
Estimated future recoveries from accounts assigned to our Conifer subsidiary	133	125
Net cost reports and settlements payable and valuation allowances	(38)	(51)
Accounts receivable, net	2,502	2,401
Discontinued operations
Accounts receivable and allowance for doubtful accounts
Accounts receivable, net	$ 3	$ 3

ACCOUNTS RECEIVABLE AND ALLOW41

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS - Allowance (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts receivable and allowance for doubtful accounts
Allowance for doubtful accounts as a percent of patients accounts receivable			27.20%		26.80%
Self-Pay Patients
Accounts receivable and allowance for doubtful accounts
Allowance for doubtful accounts as a percent of patients accounts receivable			82.30%		78.00%
Estimated costs of caring	$ 168	$ 167	$ 332	$ 353
Managed Care Patients
Accounts receivable and allowance for doubtful accounts
Allowance for doubtful accounts as a percent of patients accounts receivable			6.90%		6.50%
Charity Care Patients
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	37	55	$ 73	95
DSH and other supplemental revenues
Accounts receivable and allowance for doubtful accounts
Estimated costs of caring	$ 220	$ 157	$ 467	$ 311

ACCOUNTS RECEIVABLE AND ALLOW42

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS - Other Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable and allowance for doubtful accounts
Receivables	$ 2,505	$ 2,404
Payables	1,149	1,179
California's Provider Fee Program | Other current assets
Accounts receivable and allowance for doubtful accounts
Receivables	335	399
California's Provider Fee Program | Other current liabilities
Accounts receivable and allowance for doubtful accounts
Payables	$ 110	$ 212

ASSETS AND LIABILITIES HELD F43

ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Current Assets and Liabilities Held for Sale
Assets held for sale	$ 1,170,000,000	$ 1,170,000,000	$ 2,000,000
Liabilities held for sale	244,000,000	244,000,000
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Assets and liabilities classified as held for sale
Accounts receivable	58,000,000	58,000,000
Other current assets	71,000,000	71,000,000
Property and equipment	784,000,000	784,000,000
Goodwill	206,000,000	206,000,000
Other long-term assets	51,000,000	51,000,000
Current liabilities	(64,000,000)	(64,000,000)
Long-term liabilities	(180,000,000)	(180,000,000)
Net assets held for sale	926,000,000	926,000,000
North Texas hospitals | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Current Assets and Liabilities Held for Sale
Assets held for sale	335,000,000	335,000,000
Liabilities held for sale	45,000,000	45,000,000
Impairment charges		0
Saint Louis University Hospital | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Current Assets and Liabilities Held for Sale
Assets held for sale	43,000,000	43,000,000
Liabilities held for sale	10,000,000	10,000,000
Impairment charges	147,000,000	147,000,000
Georgia Facilities [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Current Assets and Liabilities Held for Sale
Assets held for sale	529,000,000	529,000,000
Liabilities held for sale	106,000,000	106,000,000
Impairment charges	0
North Carolina Facilities [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Current Assets and Liabilities Held for Sale
Assets held for sale	263,000,000	263,000,000
Liabilities held for sale	84,000,000	$ 84,000,000
Impairment charges	$ 0

IMPAIRMENT AND RESTRUCTURING 44

IMPAIRMENT AND RESTRUCTURING CHARGES, AND ACQUISITION-RELATED COSTS (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)segment	Jun. 30, 2014USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Net impairment and restructuring charges and acquisition-related costs		$ 222	$ 53
Employee severance costs		8	9
Restructuring costs		4	18
Lease termination costs		4
Acquisition costs		59	26
Acquisition-related transaction costs		36	4
Acquisition integration charges		$ 23	$ 22
Number of continuing operating segments | segment		3
Saint Louis University Hospital | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment charges	$ 147	$ 147

SHORT-TERM BORROWINGS AND LON45

SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS - Interim Loan Agreement (Details) - Interim Loan Agreement - Variable Rate [Domain] - Range [Domain] - USD ($)	Jun. 16, 2015	Mar. 31, 2015
Interim Loan Agreement
Term of facility		364 days
Aggregate principal amount		$ 400,000,000
Amount paid for debt repayment	$ 400,000,000
Accrued interested on debt	$ 1,000,000

SHORT-TERM BORROWINGS AND LON46

SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
LONG-TERM DEBT AND LEASE OBLIGATIONS
Capital leases and mortgage notes	$ 767	$ 487
Unamortized note discounts and premium	(34)	(21)
Total long-term debt	14,754	11,807
Less current portion	117	112
Long-term debt, net of current portion	$ 14,637	$ 11,695
5%, due 2019
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	5.00%	5.00%
Carrying amount	$ 1,100	$ 1,100
5 1/2%, due 2019
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	5.50%	5.50%
Carrying amount	$ 500	$ 500
6 3/4%, due 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	6.75%	6.75%
Carrying amount	$ 300	$ 300
8%, due 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	8.00%	8.00%
Carrying amount	$ 750	$ 750
8 1/8%, due 2022
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	8.125%	8.125%
Carrying amount	$ 2,800	$ 2,800
6 3/4%, due 2023
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	6.75%
Carrying amount	$ 1,900
6 7/8%, due 2031
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	6.875%	6.875%
Carrying amount	$ 430	$ 430
6 1/4%, due 2018
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	6.25%	6.25%
Carrying amount	$ 1,041	$ 1,041
4 3/4%, due 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	4.75%	4.75%
Carrying amount	$ 500	$ 500
6%, due 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	6.00%	6.00%
Carrying amount	$ 1,800	$ 1,800
Floating % due 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 900
4 1/2%, due 2021
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	4.50%	4.50%
Carrying amount	$ 850	$ 850
4 3/8%, due 2021
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	4.375%	4.375%
Carrying amount	$ 1,050	$ 1,050
Credit Facility due 2016
LONG-TERM DEBT AND LEASE OBLIGATIONS
Carrying amount	$ 100	$ 220

SHORT-TERM BORROWINGS AND LON47

SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS - Credit Agreement (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)	Mar. 07, 2014USD ($)
Credit Agreement
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity	$ 1,000
Line of credit facility, subfacility maximum available capacity	300
Carrying amount	$ 100
Interest rate on borrowings (as a percent)	2.40%
Standby letters of credit outstanding	$ 4
Amount available for borrowing under revolving credit facility	$ 896
Credit Agreement | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (as a percent)	0.375%
Credit Agreement | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Unused commitment fee (as a percent)	0.50%
Credit Agreement | Base rate | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (as a percent)	1.00%
Credit Agreement | Base rate | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (as a percent)	1.50%
Credit Agreement | LIBOR | Minimum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (as a percent)	2.00%
Credit Agreement | LIBOR | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (as a percent)	2.50%
Letter of Credit Facility
LONG-TERM DEBT AND LEASE OBLIGATIONS
Revolving credit facility, maximum borrowing capacity		$ 180
Unused commitment fee (as a percent)	0.50%
Standby letters of credit outstanding	$ 114
Borrowing capacity after increase subject to certain conditions		$ 200
Secured debt to EBITDA ratio	3
Issuance fee (percentage)	1.875%
Issuance fee, based on face amount (percentage)	0.125%
Letter of Credit Facility | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Number of business days after notice, for reimbursement of amount drawn.	3 days
Unused commitment fee after step down	0.375%
Letter of Credit Facility | Base rate
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (as a percent)	0.875%

SHORT-TERM BORROWINGS AND LON48

SHORT-TERM BORROWINGS AND LONG-TERM DEBT AND LEASE OBLIGATIONS - Senior Notes (Details) $ in Millions	1 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014
LONG-TERM DEBT AND LEASE OBLIGATIONS
Redemption price as a percentage of principal		100.00%
Senior Secured Notes
LONG-TERM DEBT AND LEASE OBLIGATIONS
Threshold limit for secured debt		$ 8,500
Threshold limit for debt secured by a lien on par to the lien securing senior secured notes		$ 6,400
Senior Secured Notes | Maximum
LONG-TERM DEBT AND LEASE OBLIGATIONS
Secured debt ratio		4
Secured debt ratio for debt secured by a lien on par to the lien securing senior secured notes		3
5%, due 2019
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	5.00%	5.00%	5.00%
Floating % due 2020 | Senior Notes
LONG-TERM DEBT AND LEASE OBLIGATIONS
Debt sold	$ 900
6 3/4%, due 2020
LONG-TERM DEBT AND LEASE OBLIGATIONS
Interest rate, stated percentage	6.75%	6.75%	6.75%
6 3/4%, due 2020 | LIBOR
LONG-TERM DEBT AND LEASE OBLIGATIONS
Margin on variable rate (as a percent)		3.50%
6 3/4%, due 2020 | Senior Notes
LONG-TERM DEBT AND LEASE OBLIGATIONS
Aggregate principal amount	$ 1,900	$ 1,900

GUARANTEES (Details)

GUARANTEES (Details) $ in Millions	Jun. 30, 2015USD ($)
Income and Revenue Collection Guarantee
GUARANTEES
Maximum potential amount of future payments under guarantees	$ 90
Liability for the fair value of guarantees	69
Income and Revenue Collection Guarantee | Other current liabilities
GUARANTEES
Guarantee obligations for recorded liabilities, current	17
Income and Revenue Collection Guarantee | Liabilities Held-for-Sale
GUARANTEES
Guarantee obligations for recorded liabilities, current	52
Guaranteed Investees Of Third Parties
GUARANTEES
Liability for the fair value of guarantees	40
Guaranteed Investees Of Third Parties | Other current liabilities
GUARANTEES
Guarantee obligations for consoldiated subsidiaries	$ 10

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
EMPLOYEE BENEFIT PLANS
Stock-based compensation costs, pretax	$ 36	$ 26
2008 Stock Incentive Plan
EMPLOYEE BENEFIT PLANS
Shares available for issuance under the plan	3,200,000
2008 Stock Incentive Plan | Stock Options
EMPLOYEE BENEFIT PLANS
Expiration period from the date of grant	10 years
Portion of awards vesting on each of the first three anniversary dates of the grant (as a percent)	33.30%
Vesting period	3 years
2008 Stock Incentive Plan | Restricted Stock Units
EMPLOYEE BENEFIT PLANS
Contractual right to receive shares of common stock for a stock based award	1
Portion of awards vesting on each of the first three anniversary dates of the grant (as a percent)	33.30%
Vesting period	3 years

EMPLOYEE BENEFIT PLANS - Stock

EMPLOYEE BENEFIT PLANS - Stock Options (Details) - Stock Options - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock option activity
Outstanding at the beginning of the period (in shares)	1,984,149
Granted (in shares)	0	0
Exercised (in shares)	(122,212)	(336,789)
Forfeited/Expired (in shares)	(36,438)
Outstanding at the end of the period (in shares)	1,825,499
Vested and expected to vest at the end of the period (in shares)	1,809,310
Exercisable at the end of the period (in shares)	1,534,548
Weighted Average Exercise Price Per Share
Outstanding at the beginning of the period (in dollars per share)	$ 24.42
Exercised (in dollars per share)	32.57
Forfeited/Expired (in dollars per share)	42.08
Outstanding at the end of the period (in dollars per share)	23.52
Vested and expected to vest at the end of the period (in dollars per share)	23.38
Exercisable at the end of the period (in dollars per share)	$ 20.64
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 63
Vested and expected to vest at the end of the period	62
Exercisable at the end of the period	$ 57
Weighted Average Remaining Life
Outstanding at the end of the period	3 years 10 months 24 days
Vested and expected to vest at the end of the period	3 years 10 months 24 days
Exercisable at the end of the period	3 years 8 months 12 days
Other Disclosures
Aggregate Intrinsic value of awards exercised		$ 4
Unrecognized compensation costs	$ 1
Period for recognition of unrecognized compensation costs	6 months
Maximum
Other Disclosures
Aggregate Intrinsic value of awards exercised	$ 2

EMPLOYEE BENEFIT PLANS - Range

EMPLOYEE BENEFIT PLANS - Range of Exercise Prices (Details) - Jun. 30, 2015 - Stock Options - $ / shares	Total
Options Outstanding
Number of Options Outstanding (in shares)	1,825,499
Weighted Average Remaining Contractual life	3 years 4 months 24 days
Weighted Average Exercise Price (in dollars per share)	$ 23.52
Options Exercisable
Number of Options Exercisable (in shares)	1,534,548
Weighted Average Exercise Price (in dollars per share)	$ 20.64
Range of Exercise Prices, $0.00 to $4.569
Summary information about outstanding stock options
Exercise price per share, low end of the range (in dollars per share)	0
Exercise price per share, high end of the range (in dollars per share)	$ 4.569
Options Outstanding
Number of Options Outstanding (in shares)	226,835
Weighted Average Remaining Contractual life	3 years 8 months 12 days
Weighted Average Exercise Price (in dollars per share)	$ 4.56
Options Exercisable
Number of Options Exercisable (in shares)	226,835
Weighted Average Exercise Price (in dollars per share)	$ 4.56
Range of Exercise Prices, $4.57 to $25.089
Summary information about outstanding stock options
Exercise price per share, low end of the range (in dollars per share)	4.57
Exercise price per share, high end of the range (in dollars per share)	$ 25.089
Options Outstanding
Number of Options Outstanding (in shares)	925,897
Weighted Average Remaining Contractual life	4 years 6 months
Weighted Average Exercise Price (in dollars per share)	$ 20.97
Options Exercisable
Number of Options Exercisable (in shares)	913,397
Weighted Average Exercise Price (in dollars per share)	$ 20.92
Range of Exercise Prices, $25.09 to $32.569
Summary information about outstanding stock options
Exercise price per share, low end of the range (in dollars per share)	25.09
Exercise price per share, high end of the range (in dollars per share)	$ 32.569
Options Outstanding
Number of Options Outstanding (in shares)	394,316
Weighted Average Remaining Contractual life	1 year 1 month 6 days
Weighted Average Exercise Price (in dollars per share)	$ 29.26
Options Exercisable
Number of Options Exercisable (in shares)	394,316
Weighted Average Exercise Price (in dollars per share)	$ 29.26
Range of Exercise Prices, $32.57 to $42.089
Summary information about outstanding stock options
Exercise price per share, low end of the range (in dollars per share)	32.57
Exercise price per share, high end of the range (in dollars per share)	$ 42.089
Options Outstanding
Number of Options Outstanding (in shares)	278,451
Weighted Average Remaining Contractual life	2 years 8 months 12 days
Weighted Average Exercise Price (in dollars per share)	$ 39.31

EMPLOYEE BENEFIT PLANS - Restri

EMPLOYEE BENEFIT PLANS - Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended	6 Months Ended		12 Months Ended
	May. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Performance-based - 3 year vesting
Other Disclosures
Percentage of restricted stock units, which will vest three years from the grant date						200.00%
Restricted Stock Units
Restricted stock unit activity
Unvested at the beginning of the period (in shares)			3,299,720	3,299,720
Granted (in shares)				1,718,057
Vested (in shares)				(1,067,408)
Forfeited (in shares)				(104,095)
Unvested at the end of the period (in shares)				3,846,274		3,299,720
Weighted Average Grant Date Fair Value Per Unit
Unvested at the beginning of the period (in dollars per share)			$ 40.99	$ 40.99
Granted (in dollars per share)				45.51
Vested (in dollars per share)				37.83
Forfeited (in dollars per share)				40.51
Unvested at the end of the period (in dollars per share)				$ 44.63		$ 40.99
Other Disclosures
Unrecognized compensation costs				$ 138
Period for recognition of unrecognized compensation costs				2 years 7 months 6 days
Restricted Stock Units | Newest Director
Other Disclosures
Initial grant received (in shares)			1,311
Pro-rated annual grant (in shares)		526
Vesting period			3 years
Restricted Stock Units | Non Employee Directors
Other Disclosures
Restricted stock that will vest and be settled on the third anniversary of the grant date (in shares)	43,847
Restricted Stock Units | Time-vesting
Restricted stock unit activity
Granted (in shares)				1,142,230	1,280,028
Other Disclosures
Restricted stock that will vest and be settled over a three-year period from the grant date (in shares)				1,067,383	944,590
Restricted stock that will vest and be settled on the fifth anniversary of the grant date (in shares)				31,000	52,971
Percentage of restricted stock units, which will vest on the fifth anniversary of the grant date				100.00%	100.00%
Restricted stock that will vest and be settled on the third anniversary of the grant date (in shares)					10,652
Percentage of restricted stock units, which will vest three years from the grant date					100.00%
Vesting period				3 years	3 years
Restricted Stock Units | Performance-based vesting
Restricted stock unit activity
Granted (in shares)				306,968	271,815
Other Disclosures
Term for achievement of specified performance goal				1 year
Vesting period				3 years
Restricted Stock Units | Performance-based vesting | Minimum
Other Disclosures
Awards vesting (as a percent)				0.00%
Restricted Stock Units | Performance-based vesting | Maximum
Other Disclosures
Awards vesting (as a percent)				200.00%
Restricted Stock Units | Performance-based - 3 year vesting
Other Disclosures
Restricted stock that will vest and be settled over a three-year period from the grant date (in shares)						538,837
Vesting period						3 years

EQUITY - Changes in Shareholder

EQUITY - Changes in Shareholders' Equity (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Changes in Shareholders' Equity
Balances			$ 785	$ 878
Net income (loss)			6	(45)
Distributions paid to noncontrolling interests			(20)	(18)
Contributions from noncontrolling interests			1	3
Other comprehensive income	$ 2	$ 3	5	4
Purchases (sales) of businesses and noncontrolling interests			210	29
Stock-based compensation expense and issuance of common stock			31	22
Balances	1,018	873	1,018	873
Common Stock
Changes in Shareholders' Equity
Balances			$ 7	$ 7
Balances (in shares)			98,382	96,860
Stock-based compensation expense and issuance of common stock (in shares)			933	954
Balances	$ 7	$ 7	$ 7	$ 7
Balances (in shares)	99,315	97,814	99,315	97,814
Additional Paid-in Capital
Changes in Shareholders' Equity
Balances			$ 4,614	$ 4,572
Purchases (sales) of businesses and noncontrolling interests			130
Stock-based compensation expense and issuance of common stock			30	22
Balances	$ 4,774	$ 4,594	4,774	4,594
Accumulated Other Comprehensive Loss
Changes in Shareholders' Equity
Balances			(182)	(24)
Other comprehensive income			5	4
Balances	(177)	(20)	(177)	(20)
Accumulated Deficit
Changes in Shareholders' Equity
Balances			(1,410)	(1,422)
Net income (loss)			(14)	(58)
Balances	(1,424)	(1,480)	(1,424)	(1,480)
Treasury Stock
Changes in Shareholders' Equity
Balances			(2,378)	(2,378)
Stock-based compensation expense and issuance of common stock			1
Balances	(2,377)	(2,378)	(2,377)	(2,378)
Noncontrolling Interests
Changes in Shareholders' Equity
Balances			134	123
Net income (loss)			20	13
Distributions paid to noncontrolling interests			(20)	(18)
Contributions from noncontrolling interests			1	3
Purchases (sales) of businesses and noncontrolling interests			80	29
Balances	$ 215	$ 150	$ 215	$ 150

EQUITY - Redeemable Noncontroll

EQUITY - Redeemable Noncontrolling Interests - Vanguard (Details) $ in Millions	Feb. 11, 2015USD ($)	Oct. 31, 2013Institution	Jun. 30, 2015USD ($)
Interests acquired and other disclosures
Purchase of noncontrolling interest			$ 254
Valley Baptist Health System
Interests acquired and other disclosures
Controlling interest acquired (as a percent)		51.00%
Number of hospitals | Institution		2
Additional paid-in capital recorded	$ 270
Ownership interest after acquisition (as a percent)	100.00%
Redeemable noncontrolling interests | Valley Baptist Health System
Interests acquired and other disclosures
Purchase of noncontrolling interest	$ 254
Redeemable noncontrolling interests | Valley Baptist Health System | Seller
Interests acquired and other disclosures
Non-controlling interest (as a percent)		49.00%
Noncontrolling interest acquired during the period (as a percent)	49.00%

EQUITY - Redeemable Noncontro56

EQUITY - Redeemable Noncontrolling Interests - CHI (Details) - Jan. 31, 2015 - Conifer $ in Millions	USD ($)Institution
Redeemable noncontrolling interests
Interests acquired and other disclosures
Increase in redeemable noncontrolling interest	$ 47
Catholic Health Initiatives
Interests acquired and other disclosures
Term of extension and expansion agreement	10 years
Number of hospitals | Institution	92
Catholic Health Initiatives | Redeemable noncontrolling interests
Interests acquired and other disclosures
Non-controlling interest (as a percent)	23.80%

EQUITY - Changes in Redeemable

EQUITY - Changes in Redeemable Noncontrolling Interests (Details) $ in Millions	Jun. 16, 2015Institution	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Changes in redeemable noncontrolling interests in equity of consolidated subsidiaries
Distributions paid to noncontrolling interests		$ (20)	$ (18)
Contributions from noncontrolling interests		1	3
Redeemable noncontrolling interest		$ 1,591		$ 401
United Surgical Partners International
Changes in redeemable noncontrolling interests in equity of consolidated subsidiaries
Number of ambulatory surgery centers	49	7
Number of diagnostic imaging centers | Institution	20
Controlling interest acquired (as a percent)	50.10%
Redeemable noncontrolling interest		$ 1,330
United Surgical Partners International | Minimum
Changes in redeemable noncontrolling interests in equity of consolidated subsidiaries
Equity necessary for joint venture (as a percent)		12.50%
United Surgical Partners International | Maximum
Changes in redeemable noncontrolling interests in equity of consolidated subsidiaries
Equity necessary for joint venture (as a percent)		25.00%
United Surgical Partners International | Maximum | Call Option
Changes in redeemable noncontrolling interests in equity of consolidated subsidiaries
Controlling interest acquired (as a percent)		100.00%
Redeemable noncontrolling interests
Changes in redeemable noncontrolling interests in equity of consolidated subsidiaries
Balances at beginning of period		$ 401	340
Net income		42	22
Distributions paid to noncontrolling interests		(3)	(2)
Contributions from noncontrolling interests		1	10
Purchases and sales of businesses and noncontrolling interests, net		1,150
Balances at end of period		$ 1,591	$ 370

PROPERTY AND PROFESSIONAL AND58

PROPERTY AND PROFESSIONAL AND GENERAL LIABILITY INSURANCE (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Other operating expense, net
Insurance coverage
Malpractice expense	$ 147	$ 127
Professional and General Liability Insurance
Insurance coverage
Self insurance reserve	$ 750		$ 681
Loss contingency discount rate, maturity rate period	7 years		7 years
Risk-free discount rate (as a percent)	2.07%		1.97%

CLAIMS AND LAWSUITS (Details)

CLAIMS AND LAWSUITS (Details) $ in Millions	May. 06, 2015defendant	Apr. 10, 2015defendant	Oct. 31, 2014person	Nov. 30, 2014USD ($)	Oct. 31, 2014plaintiffperson	Jun. 30, 2006itemdefendant	Jun. 30, 2015USD ($)plaintiffitemdefendant	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2014USD ($)
Clinica de la Mama Investigations and Qui Tam Action
Loss Contingencies
Number of defendants | defendant	4						4
Defendants designed as targets in criminal investigation | defendant		4
Number of criminal conspiracy counts against a former owner of HMM | item							1
Number of criminal conspiracy counts against a former employee | item							1
Clinica de la Mama Investigations and Qui Tam Action | Minimum
Loss Contingencies
Litigation reserve							$ 20
ICDs
Loss Contingencies
Number of hospitals under governmental review | item							56
Settlement amount							$ 12.1
Debt Collection Activities Review | Conifer
Loss Contingencies
Litigation reserve							5.2		$ 1.7
Settlement amount							5.6
Consumer debt forgiveness amount							$ 0.3
Number of years periodic reports are required							5 years
Vanguard Acquisition Lawsuits
Loss Contingencies
Number of plaintiffs identified in class certification process | plaintiff							8
Ordinary Course Matters
Loss Contingencies
Number of persons in class action lawsuits | person			5,000
Number of persons certified in class | person					8
Number of plaintiffs identified in class certification process | plaintiff					2
Maximum potential payment										$ 32.5
Escrow deposits				$ 5.5
Settlement amount							$ 13.6
Ordinary Course Matters | Discontinued operations
Loss Contingencies
Litigation reserve								$ 8	$ 11.5
Antitrust Class Action Lawsuit
Loss Contingencies
Number of defendants | defendant						3
Number of class action lawsuits filed | item						1

CLAIMS AND LAWSUITS - Reconcili

CLAIMS AND LAWSUITS - Reconciliations (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Loss Contingencies
Other	$ 3	$ (3)
Continuing operations
Loss Contingencies
Other	3	(3)
Claims, lawsuits, and regulatory proceedings
Loss Contingencies
Litigation reserve, Balances at Beginning of Period	83	70
Litigation and Investigation costs	(14)	(33)
Cash Payments	(28)	(12)
Litigation reserve, Balances at End of Period	72	88
Claims, lawsuits, and regulatory proceedings | Continuing operations
Loss Contingencies
Litigation reserve, Balances at Beginning of Period	73	64
Litigation and Investigation costs	(17)	(15)
Cash Payments	(27)	(6)
Litigation reserve, Balances at End of Period	66	70
Claims, lawsuits, and regulatory proceedings | Discontinued operations
Loss Contingencies
Litigation reserve, Balances at Beginning of Period	10	6
Litigation and Investigation costs	3	(18)
Cash Payments	(1)	(6)
Litigation reserve, Balances at End of Period	$ 6	$ 18

INCOME TAXES - Reconciliation (

INCOME TAXES - Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Taxes
Income tax benefit (expense)	$ 27	$ (8)	$ 11	$ (7)
State income tax expense			7
Tax benefits related to net income of noncontrolling interests			(22)
Continued operations pre-tax earnings	(54)	$ 17	37	$ 5
Tax benefit, amended state tax returns			17
Other tax expense			8
Unrecognized tax benefits	38		38
Unrecognized tax benefits which, if recognized, would impact effective tax rate	31		31
Unrecognized federal and state tax benefits and reserves for interest and penalties, which may decrease in the next 12 months	$ 3		3
Continuing operations
Income Taxes
Income tax benefit (expense)			11
Interest and penalties related to accrued liabilities for uncertain tax positions, recognized			$ 5

LOSS PER COMMON SHARE (Details)

LOSS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income (Loss) (Numerator)
Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share	$ (60)	$ (10)	$ (14)	$ (37)
Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share	$ (60)	$ (10)	$ (14)	$ (37)
Weighted Average Shares (Denominator)
Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share	99,244	97,677	98,972	97,419
Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share	99,244	97,677	98,972	97,419
Per-Share Amount
Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share	$ (0.60)	$ (0.11)	$ (0.14)	$ (0.38)
Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share	$ (0.60)	$ (0.11)	$ (0.14)	$ (0.38)

LOSS PER COMMON SHARE - Antidil

LOSS PER COMMON SHARE - Antidilutive securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Employee stock options, restricted stock units and deferred compensation units
Antidilutive securities
Anti-dilutive securities excluded from computation of earnings per share	2,673	2,123	2,423	2,053

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Saint Louis University Hospital | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Fair value of assets and liabilities measured on recurring basis
Impairment charges	$ 147
Recurring basis | Total
Fair value of assets and liabilities measured on recurring basis
Marketable securities-current		$ 2
Investments in Reserve Yield Plus Fund	2	2
Marketable debt securities-noncurrent	62	60
Investments	64	64
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair value of assets and liabilities measured on recurring basis
Marketable securities-current		2
Marketable debt securities-noncurrent	25	54
Investments	$ 25	$ 56
Estimated fair value of the long-term debt instrument as a percentage of carrying value	103.80%	105.00%
Recurring basis | Significant Other Observable Inputs (Level 2)
Fair value of assets and liabilities measured on recurring basis
Investments in Reserve Yield Plus Fund	$ 2	$ 2
Marketable debt securities-noncurrent	36	5
Investments	38	7
Recurring basis | Significant Unobservable Inputs (Level 3)
Fair value of assets and liabilities measured on recurring basis
Marketable debt securities-noncurrent	1	1
Investments	1	$ 1
Non-recurring basis | Total
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held and used	32
Non-recurring basis | Significant Other Observable Inputs (Level 2)
Fair value of assets and liabilities measured on recurring basis
Long-lived assets held and used	$ 32

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ / shares in Units, $ in Millions	Jun. 16, 2015USD ($)stateInstitutionitem	Jun. 30, 2015USD ($)state$ / shares	Jun. 30, 2014USD ($)$ / shares	Jun. 30, 2015USD ($)stateInstitutionitem$ / shares	Jun. 30, 2014USD ($)$ / shares	Dec. 31, 2014USD ($)
Business Acquisition
Number of states | state		14		14
Number of short-stay surgical hospitals | Institution				18
Preliminary purchase price allocations
Goodwill		$ 6,602		$ 6,602		$ 3,913
Pro Forma Information - Unaudited
Net operating revenues		4,671	$ 4,246	9,300	$ 8,360
Equity in earnings of unconsolidated affiliates		16	4	20	5
Net income (loss) from continuing operations, before income taxes		$ (73)	$ (31)	$ (45)	$ (73)
Net income per share | $ / shares		$ (0.74)	$ (0.32)	$ (0.46)	$ (0.75)
Pro Forma
Pro Forma Information - Unaudited
Equity in earnings of unconsolidated affiliates		$ 38	$ 32	$ 63	$ 51
United Surgical Partners International
Business Acquisition
Number of ambulatory surgery centers	49			7
Payment contributed to joint venture	$ 424
Controlling interest acquired (as a percent)	50.10%
Number of diagnostic imaging centers | Institution	20
Assumed debt	$ 1,500
United Surgical Partners International | Pro Forma
Business Acquisition
Loss from early extinguishment of debt		30		$ 30
Series of individual business acquisitions
Preliminary purchase price allocations
Current assets		241		241
Property and equipment		353		353
Other intangible assets		359		359
Goodwill		2,905		2,905
Other long-term assets		658		658
Current liabilities		(306)		(306)
Deferred taxes - long term		(128)		(128)
Other long-term liabilities		(1,994)		(1,994)
Redeemable noncontrolling interests in equity of consolidated subsidiaries		(1,372)		(1,372)
Noncontrolling interests		(80)		(80)
Net cash paid		636		636
Transaction costs related to prospective and closed acquisitions				36
European Surgical Partners Ltd
Business Acquisition
Purchase price	$ 226
Number of private hospitals | Institution	9
European Surgical Partners Ltd | United Surgical Partners International
Business Acquisition
Purchase price				636
Preliminary purchase price allocations
Current assets		238		238
Property and equipment		347		347
Other intangible assets		359		359
Goodwill		2,781		2,781
Other long-term assets		657		657
Current liabilities		(303)		(303)
Deferred taxes - long term		(128)		(128)
Other long-term liabilities		(1,989)		(1,989)
Redeemable noncontrolling interests in equity of consolidated subsidiaries		(1,332)		(1,332)
Noncontrolling interests		(64)		(64)
Net cash paid		$ 566		$ 566
USPI Entity
Business Acquisition
Number of ambulatory surgery centers | item	249
Number of states | state	29
Number of short-stay surgical hospitals | item	18
Number of diagnostic imaging centers | item	20

SEGMENT INFORMATION - General I

SEGMENT INFORMATION - General Information and Customer Concentration (Details)	Jun. 16, 2015stateInstitutionitem	Jun. 30, 2015stateplanInstitutionitem
SEGMENT INFORMATION
Number of hospitals owned by subsidiaries		80
Number of short-stay surgical hospitals		18
Number of hospitals temporarily closed for repairs		1
Number of licensed beds in hospitals operated by subsidiaries | item		20,826
Number of states where subsidiaries had operations | state		14
Number of provider-based outpatient centers operated by subsidiaries		400
Number of health plans | plan		6
United Surgical Partners International
SEGMENT INFORMATION
Number of ambulatory surgery centers	49	7
Number of diagnostic imaging centers	20
European Surgical Partners Ltd
SEGMENT INFORMATION
Number of private hospitals	9
USPI Entity
SEGMENT INFORMATION
Number of short-stay surgical hospitals | item	18
Number of ambulatory surgery centers | item	249
Number of diagnostic imaging centers | item	20
Number of states where subsidiaries had operations | state	29
Minimum | Conifer
SEGMENT INFORMATION
Number of Tenet and non-Tenet Hospitals and other health care organizations to which Conifer provided revenue cycle services		800

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciling Items (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
SEGMENT INFORMATION
Assets	$ 22,746		$ 22,746		$ 18,141
Capital expenditures:	175	$ 242	359	$ 523
Net operating revenues	4,492	4,038	8,916	7,963
Adjusted EBITDA	568	460	1,097	847
Depreciation and amortization	197	209	404	402
Adjusted EBITDA and other reconciling items
Adjusted EBITDA	568	460	1,097	847
Depreciation and amortization	(197)	(209)	(404)	(402)
Impairment and restructuring charges, and acquisition-related costs	(193)	(32)	(222)	(53)
Litigation and investigation costs	(14)	(12)	(17)	(15)
Interest expense	(217)	(190)	(416)	(372)
Investment earnings (losses)	(1)		(1)
Net income (loss) from continuing operations, before income taxes	(54)	17	37	5
Hospital operations and other
SEGMENT INFORMATION
Assets	16,678		16,678		17,008
Conifer
SEGMENT INFORMATION
Assets	1,151		1,151		929
Ambulatory Care
SEGMENT INFORMATION
Assets	4,917		4,917		$ 204
Adjusted EBITDA	49	26	78	44
Depreciation and amortization	7	4	11	7
Adjusted EBITDA and other reconciling items
Adjusted EBITDA	49	26	78	44
Depreciation and amortization	(7)	(4)	(11)	(7)
Operating segments | Hospital operations and other
SEGMENT INFORMATION
Capital expenditures:	166	235	341	506
Net operating revenues	4,175	3,811	8,326	7,523
Adjusted EBITDA	459	390	877	711
Depreciation and amortization	178	200	369	385
Adjusted EBITDA and other reconciling items
Adjusted EBITDA	459	390	877	711
Depreciation and amortization	(178)	(200)	(369)	(385)
Operating segments | Conifer
SEGMENT INFORMATION
Capital expenditures:	6	5	11	13
Net operating revenues	340	285	682	570
Adjusted EBITDA	60	44	142	92
Depreciation and amortization	12	5	24	10
Adjusted EBITDA and other reconciling items
Adjusted EBITDA	60	44	142	92
Depreciation and amortization	(12)	(5)	(24)	(10)
Operating segments | Conifer | Tenet
SEGMENT INFORMATION
Net operating revenues	165	138	325	278
Operating segments | Conifer | Other customers
SEGMENT INFORMATION
Net operating revenues	175	147	357	292
Operating segments | Ambulatory Care
SEGMENT INFORMATION
Capital expenditures:	3	2	7	4
Net operating revenues	142	80	233	148
Intercompany eliminations
SEGMENT INFORMATION
Net operating revenues	$ (165)	$ (138)	$ (325)	$ (278)