Company Quick10K Filing
Tenet Healthcare
Price22.73 EPS1
Shares104 P/E19
MCap2,354 P/FCF3
Net Debt14,544 EBIT936
TEV16,898 TEV/EBIT18
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-10-30
10-Q 2020-06-30 Filed 2020-08-03
10-Q 2020-03-31 Filed 2020-05-04
10-K 2019-12-31 Filed 2020-02-24
10-Q 2019-09-30 Filed 2019-11-04
10-Q 2019-06-30 Filed 2019-08-05
10-Q 2019-03-31 Filed 2019-04-29
10-K 2018-12-31 Filed 2019-02-25
10-Q 2018-09-30 Filed 2018-11-05
10-Q 2018-06-30 Filed 2018-08-06
10-Q 2018-03-31 Filed 2018-04-30
10-K 2017-12-31 Filed 2018-02-26
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-06-30 Filed 2017-08-07
10-Q 2017-03-31 Filed 2017-05-01
10-K 2016-12-31 Filed 2017-02-27
10-Q 2016-09-30 Filed 2016-10-31
10-Q 2016-06-30 Filed 2016-08-01
10-Q 2016-03-31 Filed 2016-05-02
10-K 2015-12-31 Filed 2016-02-22
10-Q 2015-09-30 Filed 2015-11-02
10-Q 2015-06-30 Filed 2015-08-03
10-Q 2015-03-31 Filed 2015-05-04
10-K 2014-12-31 Filed 2015-02-23
10-Q 2014-09-30 Filed 2014-11-03
10-Q 2014-06-30 Filed 2014-08-04
10-Q 2014-03-31 Filed 2014-05-05
10-K 2013-12-31 Filed 2014-02-24
10-Q 2013-09-30 Filed 2013-11-04
10-Q 2013-06-30 Filed 2013-08-06
10-Q 2013-03-31 Filed 2013-04-30
10-K 2012-12-31 Filed 2013-02-26
10-Q 2012-09-30 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-07
10-Q 2012-03-31 Filed 2012-05-08
10-K 2011-12-31 Filed 2012-02-28
10-Q 2011-09-30 Filed 2011-11-01
10-Q 2011-06-30 Filed 2011-08-02
10-Q 2011-03-31 Filed 2011-05-03
10-K 2010-12-31 Filed 2011-02-25
10-Q 2010-09-30 Filed 2010-11-02
10-Q 2010-06-30 Filed 2010-08-03
10-Q 2010-03-31 Filed 2010-05-04
10-K 2009-12-31 Filed 2010-02-23
8-K 2020-11-04
8-K 2020-10-20
8-K 2020-09-16
8-K 2020-09-01
8-K 2020-08-03
8-K 2020-06-16
8-K 2020-06-02
8-K 2020-05-28
8-K 2020-05-04
8-K 2020-04-27
8-K 2020-04-07
8-K 2020-04-02
8-K 2020-04-02
8-K 2020-03-19
8-K 2020-02-26
8-K 2020-02-24
8-K 2020-01-14
8-K 2019-12-12
8-K 2019-11-06
8-K 2019-11-04
8-K 2019-09-12
8-K 2019-08-26
8-K 2019-08-16
8-K 2019-08-12
8-K 2019-08-12
8-K 2019-08-05
8-K 2019-07-24
8-K 2019-06-19
8-K 2019-06-01
8-K 2019-05-02
8-K 2019-04-29
8-K 2019-02-27
8-K 2019-02-25
8-K 2019-02-05
8-K 2019-01-28
8-K 2019-01-22
8-K 2019-01-22
8-K 2019-01-03
8-K 2018-11-27
8-K 2018-11-05
8-K 2018-08-17
8-K 2018-08-06
8-K 2018-06-28
8-K 2018-05-25
8-K 2018-05-03
8-K 2018-04-30
8-K 2018-03-23
8-K 2018-03-05
8-K 2018-02-26
8-K 2018-01-21
8-K 2018-01-11
8-K 2018-01-08

THC 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements
Note 1. Basis of Presentation
Note 2. Accounts Receivable
Note 3. Contract Balances
Note 4. Assets and Liabilities Held for Sale
Note 5. Impairment and Restructuring Charges, and Acquisition - Related Costs
Note 6. Long - Term Debt
Note 7. Guarantees
Note 8. Employee Benefit Plans
Note 9. Equity
Note 10. Net Operating Revenues
Note 11. Property and Professional and General Liability Insurance
Note 12. Claims and Lawsuits
Note 13. Redeemable Noncontrolling Interests in Equity of Consolidated Subsidiaries
Note 14. Income Taxes
Note 15. Loss per Common Share
Note 16. Fair Value Measurements
Note 17. Acquisitions
Note 18. Segment Information
Note 19. Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 6. Exhibits
EX-31.A thc-20200930ex31a.htm
EX-31.B thc-20200930ex31b.htm
EX-32 thc-20200930ex32.htm

Tenet Healthcare Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
2519149402012201420172020
Assets, Equity
4.73.72.71.80.8-0.22016201720182020
Rev, G Profit, Net Income
1.50.90.2-0.4-1.1-1.72012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
Form 10-Q
 
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2020
 
OR
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from               to               
 
Commission File Number 1-7293
 
_________________________________________
TENET HEALTHCARE CORPORATION
(Exact name of Registrant as specified in its charter)
_________________________________________
Nevada95-2557091
(State of Incorporation)(IRS Employer Identification No.)
14201 Dallas Parkway
Dallas, TX 75254
(Address of principal executive offices, including zip code)
 
(469893-2200
(Registrant’s telephone number, including area code)
_________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolName of each exchange on which registered
Common stock,$0.05 par valueTHCNew York Stock Exchange
6.875% Senior Notes due 2031THC31New York Stock Exchange

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days.   Yes x No ¨
 
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.   Yes x No ¨
 
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company (each as defined in Exchange Act Rule 12b-2).
Large accelerated filer
x
Accelerated filer¨Non-accelerated filer¨
Smaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the Registrant is a shell company (as defined in Exchange Act Rule 12b-2).   Yes  No x

At October 28, 2020, there were 105,517,046 shares of the Registrant’s common stock outstanding.


Table of Contents
TENET HEALTHCARE CORPORATION
TABLE OF CONTENTS
Page
 
i

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

TENET HEALTHCARE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
Dollars in Millions
(Unaudited)
September 30,December 31,
20202019
ASSETS
Current assets:
Cash and cash equivalents$3,300 $262 
Accounts receivable2,479 2,743 
Inventories of supplies, at cost349 310 
Income tax receivable2 10 
Assets held for sale386 387 
Other current assets1,292 1,369 
Total current assets 7,808 5,081 
Investments and other assets2,445 2,369 
Deferred income taxes436 183 
Property and equipment, at cost, less accumulated depreciation and amortization
   ($5,906 at September 30, 2020 and $5,498 at December 31, 2019)
6,618 6,878 
Goodwill7,302 7,252 
Other intangible assets, at cost, less accumulated amortization
   ($1,207 at September 30, 2020 and $1,092 at December 31, 2019)
1,578 1,602 
Total assets $26,187 $23,365 
LIABILITIES AND EQUITY  
Current liabilities:  
Current portion of long-term debt$155 $171 
Accounts payable1,025 1,204 
Accrued compensation and benefits834 877 
Professional and general liability reserves285 330 
Accrued interest payable218 245 
Liabilities held for sale91 44 
Contract liabilities1,500 61 
Other current liabilities1,735 1,273 
Total current liabilities 5,843 4,205 
Long-term debt, net of current portion15,561 14,580 
Professional and general liability reserves666 635 
Defined benefit plan obligations525 560 
Deferred income taxes27 27 
Other long-term liabilities1,564 1,415 
Total liabilities 24,186 21,422 
Commitments and contingencies
Redeemable noncontrolling interests in equity of consolidated subsidiaries1,479 1,506 
Equity:  
Shareholders’ equity:  
Common stock, $0.05 par value; authorized 262,500,000 shares; 153,745,411 shares issued at
   September 30, 2020 and 152,540,815 shares issued at December 31, 2019
7 7 
Additional paid-in capital4,826 4,760 
Accumulated other comprehensive loss(251)(257)
Accumulated deficit(2,542)(2,513)
Common stock in treasury, at cost, 48,337,999 shares at September 30, 2020 and
   48,344,195 shares at December 31, 2019
(2,414)(2,414)
Total shareholders’ deficit(374)(417)
Noncontrolling interests 896 854 
Total equity 522 437 
Total liabilities and equity $26,187 $23,365 

See accompanying Notes to Condensed Consolidated Financial Statements.


Table of Contents
TENET HEALTHCARE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Dollars in Millions, Except Per-Share Amounts
(Unaudited) 
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Net operating revenues $4,557 $4,568 $12,725 $13,673 
Grant income(66) 445  
Equity in earnings of unconsolidated affiliates44 38 103 114 
Operating expenses:  
Salaries, wages and benefits2,142 2,172 6,193 6,468 
Supplies784 760 2,158 2,254 
Other operating expenses, net1,058 1,036 3,054 3,136 
Depreciation and amortization215 205 624 627 
Impairment and restructuring charges, and acquisition-related costs57 46 166 101 
Litigation and investigation costs9 84 13 115 
Net losses (gains) on sales, consolidation and deconsolidation of facilities(1)1 (4)3 
Operating income 271 302 1,069 1,083 
Interest expense(263)(244)(761)(742)
Other non-operating income (expense), net (3)3 (3)
Loss from early extinguishment of debt(312)(180)(316)(227)
Income (loss) from continuing operations, before income taxes 
(304)(125)(5)111 
Income tax benefit (expense)197 (22)227 (75)
Income (loss) from continuing operations, before discontinued operations 
(107)(147)222 36 
Discontinued operations:  
Income from operations1 1  13 
Income tax expense   (2)
Income from discontinued operations 1 1  11 
Net income (loss)(106)(146)222 47 
Less: Net income available to noncontrolling interests90 80 237 259 
Net loss attributable to Tenet Healthcare Corporation common shareholders 
$(196)$(226)$(15)$(212)
Amounts available (attributable) to Tenet Healthcare Corporation common shareholders  
Loss from continuing operations, net of tax$(197)$(227)$(15)$(223)
Income from discontinued operations, net of tax1 1  11 
Net loss attributable to Tenet Healthcare Corporation common shareholders$(196)$(226)$(15)$(212)
Earnings (loss) per share available (attributable) to Tenet Healthcare Corporation common shareholders:  
Basic  
Continuing operations$(1.87)$(2.19)$(0.14)$(2.16)
Discontinued operations0.01 0.01  0.11 
 $(1.86)$(2.18)$(0.14)$(2.05)
Diluted  
Continuing operations$(1.87)$(2.19)$(0.14)$(2.16)
Discontinued operations0.01 0.01  0.11 
 $(1.86)$(2.18)$(0.14)$(2.05)
Weighted average shares and dilutive securities outstanding (in thousands):  
Basic105,263 103,558 104,803 103,181 
Diluted105,263 103,558 104,803 103,181 

See accompanying Notes to Condensed Consolidated Financial Statements.

2

Table of Contents
TENET HEALTHCARE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME
Dollars in Millions
(Unaudited)
 
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Net income (loss)$(106)$(146)$222 $47 
Other comprehensive income:
Amortization of net actuarial loss included in other non-operating expense, net2 3 6 9 
Unrealized gains on debt securities held as available-for-sale  1  
Other comprehensive income before income taxes2 3 7 9 
Income tax benefit (expense) related to items of other comprehensive income2  (1)(2)
Total other comprehensive income, net of tax4 3 6 7 
Comprehensive net income (loss)(102)(143)228 54 
Less: Comprehensive income attributable to noncontrolling interests90 80 237 259 
Comprehensive loss attributable to Tenet Healthcare Corporation common shareholders
$(192)$(223)$(9)$(205)

See accompanying Notes to Condensed Consolidated Financial Statements.

3

Table of Contents
TENET HEALTHCARE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Dollars in Millions
(Unaudited)
Nine Months Ended
September 30,
20202019
Net income$222 $47 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization624 627 
Deferred income tax (benefit) expense(246)65 
Stock-based compensation expense38 34 
Impairment and restructuring charges, and acquisition-related costs166 101 
Litigation and investigation costs13 115 
Net losses (gains) on sales, consolidation and deconsolidation of facilities(4)3 
Loss from early extinguishment of debt316 227 
Equity in earnings of unconsolidated affiliates, net of distributions received(11)(6)
Amortization of debt discount and debt issuance costs30 25 
Pre-tax income from discontinued operations (13)
Other items, net(4)(14)
Changes in cash from operating assets and liabilities:  
Accounts receivable280 (174)
Inventories and other current assets30 (98)
Income taxes9 (4)
Accounts payable, accrued expenses and other current liabilities1,546 (67)
Other long-term liabilities205 (15)
Payments for restructuring charges, acquisition-related costs, and litigation costs and settlements(252)(136)
Net cash used in operating activities from discontinued operations, excluding income taxes(1)(4)
Net cash provided by operating activities2,961 713 
Cash flows from investing activities:  
Purchases of property and equipment — continuing operations(374)(492)
Purchases of businesses or joint venture interests, net of cash acquired(61)(23)
Proceeds from sales of facilities and other assets — continuing operations13 44 
Proceeds from sales of facilities and other assets — discontinued operations 17 
Proceeds from sales of marketable securities, long-term investments and other assets44 52 
Purchases of marketable securities and equity investments(41)(25)
Other long-term assets(4)1 
Other items, net17  
Net cash used in investing activities(406)(426)
Cash flows from financing activities:  
Repayments of borrowings under credit facility(740)(1,880)
Proceeds from borrowings under credit facility740 2,155 
Repayments of other borrowings(3,244)(6,084)
Proceeds from other borrowings3,815 5,718 
Debt issuance costs(48)(63)
Distributions paid to noncontrolling interests(184)(223)
Proceeds from sale of noncontrolling interests7 15 
Purchases of noncontrolling interests(34)(8)
Proceeds from exercise of stock options and employee stock purchase plan13 4 
Other items, net158 (18)
Net cash provided by (used in) financing activities483 (384)
Net increase (decrease) in cash and cash equivalents3,038 (97)
Cash and cash equivalents at beginning of period262 411 
Cash and cash equivalents at end of period$3,300 $314 
Supplemental disclosures:  
Interest paid, net of capitalized interest$(757)$(705)
Income tax payments, net$(10)$(18)
 
See accompanying Notes to Condensed Consolidated Financial Statements.

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TENET HEALTHCARE CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

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 headquartered in Dallas, Texas. Through an expansive care network that includes USPI Holding Company, Inc. (“USPI”), at September 30, 2020 we operated 65 hospitals and approximately 520 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, urgent care and imaging centers, and other care sites and clinics. We also operate Conifer Health Solutions, LLC through our Conifer Holdings, Inc. (“Conifer”) subsidiary, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients.
 
This quarterly report supplements our Annual Report on Form 10-K for the year ended December 31, 2019 (“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).

Effective January 1, 2020, we adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”) using the modified retrospective transition approach as of the period of adoption. Upon adoption of ASU 2016-13 on January 1, 2020, we recorded a cumulative effect adjustment to increase accumulated deficit by $14 million.

Certain prior-year amounts have been reclassified to conform to the current year presentation. In the accompanying Condensed Consolidated Balance Sheets, contract liabilities, primarily related to Medicare advance payments we received, are now presented separately due to the fact that the balances increased substantially in 2020. In the accompanying Condensed Consolidated Statements of Operations, electronic health record incentives have been reclassified to other operating expenses, net, as they are no longer significant enough to present separately. In the accompanying Condensed Consolidated Statements of Cash Flows, purchases of marketable securities have been reclassified from other items, net within cash flows from investing activities to purchases of marketable securities and equity investments. Additionally, our financial statements and corresponding footnotes for prior periods have been recast to reflect retrospective application of the change in accounting principle discussed in the Professional and General Liability Reserves section of this note.

Although the Condensed Consolidated Financial Statements and related notes within this document are unaudited, we believe all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. In preparing our financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), we are required to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements and these accompanying notes. We regularly evaluate the accounting policies and estimates we use. In general, we base the estimates on historical experience and on assumptions that we believe to be reasonable given the particular circumstances in which we operate. Actual results may vary from those estimates. Financial and statistical information we report to other regulatory agencies may be prepared on a basis other than GAAP or using different assumptions or reporting periods and, therefore, may vary from amounts presented herein. Although we make every effort to ensure that the information we report to those agencies is accurate, complete and consistent with applicable reporting guidelines, we cannot be responsible for the accuracy of the information they make available to the public.
 
Operating results for the three and nine-month periods ended September 30, 2020 are not necessarily indicative of the results that may be expected for the full year. Reasons for this include, but are not limited to: the impact of the COVID-19 pandemic on our operations, business, financial condition and cash flows; overall revenue and cost trends, particularly the timing and magnitude of price changes; fluctuations in contractual allowances and cost report settlements and valuation allowances; managed care contract negotiations, settlements or terminations and payer consolidations; trends in patient accounts receivable collectability and associated implicit price concessions; fluctuations in interest rates; levels of malpractice insurance expense and settlement trends; impairment of long-lived assets and goodwill; restructuring charges; losses, costs and insurance recoveries related to natural disasters and other weather-related occurrences; litigation and investigation costs; acquisitions and dispositions of facilities and other assets; gains (losses) on sales, consolidation and deconsolidation of facilities; income tax
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rates and deferred tax asset valuation allowance activity; changes in estimates of accruals for annual incentive compensation; the timing and amounts of stock option and restricted stock unit grants to employees and directors; gains (losses) from early extinguishment of debt; and changes in occupancy levels and patient volumes. Factors that affect service mix, revenue mix, patient volumes and, thereby, the results of operations at our hospitals and related healthcare facilities include, but are not limited to: changes in federal, state and local healthcare and business regulations, including mandated closures and other operating restrictions; the business environment, economic conditions and demographics of local communities in which we operate; the number of uninsured and underinsured individuals in local communities treated at our hospitals; disease hotspots and seasonal cycles of illness; climate and weather conditions; physician recruitment, satisfaction, retention and attrition; advances in technology and treatments that reduce length of stay; local healthcare competitors; utilization pressure by managed care organizations, as well as managed care contract negotiations or terminations; hospital performance data on quality measures and patient satisfaction, as well as standard charges for services; any unfavorable publicity about us, or our joint venture partners, that impacts our relationships with physicians and patients; and changing consumer behavior, including with respect to the timing of elective procedures. These considerations apply to year-to-year comparisons as well.

Professional and General Liability Reserves

We accrue for estimated professional and general liability claims when they are probable and can be reasonably estimated. The accrual, which includes an estimate for incurred but not reported claims, is updated each quarter based on a model of projected payments using case-specific facts and circumstances and our historical loss reporting, development and settlement patterns. To the extent that subsequent claims information varies from our estimates, the liability is adjusted in the period such information becomes available. Malpractice expense is presented within other operating expenses in the accompanying Condensed Consolidated Statements of Operations.

In the three months ended March 31, 2020, we changed our method of accounting for our estimated professional and general liability claims. Under the new method of accounting, the liabilities are reported on an undiscounted basis whereas, previously, the liabilities were reported on a discounted basis. We believe that the undiscounted presentation is preferable because it simplifies the accounting for the liabilities, thereby increasing understandability of our financial results and financial condition, is consistent with the manner in which management evaluates our business, and results in an accounting method and financial statement presentation that is consistent with our key peers.

Accordingly, our financial statements and corresponding footnotes for the respective prior periods have been recast to reflect retrospective application of the change in accounting principle. We recorded the cumulative effect for the change in accounting principle as an increase of $44 million to accumulated deficit as of January 1, 2017. This change increased our accumulated deficit by $46 million, $41 million and $63 million at December 31, 2019, September 30, 2019 and December 31, 2018, respectively.

The following tables present the effects of the change in accounting principle to our financial statements:

Condensed Consolidated Balance Sheet:
As ReportedEffect of Change in Accounting PrincipleAs Adjusted
At December 31, 2019:
Deferred income taxes$169 $14 $183 
Professional and general liability reserves$585 $50 $635 
Other long-term liabilities$1,405 $10 $1,415 
Accumulated deficit$(2,467)$(46)$(2,513)

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Condensed Consolidated Statements of Operations (in millions, except for per-share amounts):
Three Months Ended September 30, 2020Nine Months Ended September 30, 2020
Prior to Change in Accounting PrincipleEffect of Change in Accounting PrincipleAs ReportedPrior to Change in Accounting PrincipleEffect of Change in Accounting PrincipleAs Reported
Salaries, wages and benefits$2,142 $ $2,142 $6,200 $(7)$6,193 
Other operating expenses, net$1,058 $ $1,058 $3,088 $(34)$3,054 
Operating income $271 $ $271 $1,028 $41 $1,069 
Income tax benefit$197 $ $197 $237 $(10)$227 
Net income (loss)$(106)$ $(106)$191 $31 $222 
Net loss from continuing operations attributable to Tenet Healthcare Corporation common shareholders$(197)$ $(197)$(46)$31