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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

14. SEGMENT INFORMATION

The Company is principally engaged in the provision of healthcare services, including a broad range of general and specialized hospital healthcare services and outpatient services. Services are delivered within hospitals that the Company owns or operates as well as related healthcare entities that exist to support and supplement services provided in their associated hospital, including, for example, physician practices, urgent care centers, freestanding emergency departments, occupations medicine clinics, imaging centers, cancer centers and ambulatory surgery centers.

The Company has a single reportable segment represented by hospital operations which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services. The Company defined its single reportable segment consistent with the manner in which internally reported financial information is regularly reviewed by the Company’s chief executive officer who is the Company’s chief operating decision maker (“CODM”). Resources are allocated and financial performance is assessed on a consolidated basis.

The CODM does not review assets at a different level or category than the amounts disclosed in the consolidated balance sheets.

The Company’s CODM uses net (loss) income, as presented in the consolidated statements of (loss) income, to assess performance and allocate resources. Net (loss) income is used in the annual budgeting process as well as throughout the period when projecting or forecasting quarterly and full-year performance. The CODM considers budget-to-actual and actual versus prior period (prior month, prior year, etc.) variances on a periodic basis as a means of assessing performance. The following segment information, including significant segment expenses, is presented in millions:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Net operating revenues

 

$

12,634

 

 

$

12,490

 

 

$

12,211

 

Less:

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

 

5,418

 

 

 

5,415

 

 

 

5,330

 

Supplies

 

 

1,946

 

 

 

1,993

 

 

 

1,975

 

Contract labor

 

 

170

 

 

 

266

 

 

 

526

 

Medical specialist fees

 

 

640

 

 

 

606

 

 

 

480

 

Other segment items

 

 

3,131

 

 

 

2,835

 

 

 

2,474

 

Depreciation and amortization

 

 

486

 

 

 

505

 

 

 

534

 

Interest expense

 

 

863

 

 

 

832

 

 

 

860

 

Interest income

 

 

(3

)

 

 

(2

)

 

 

(2

)

Impairment and (gain) loss on sale of businesses, net

 

 

301

 

 

 

(87

)

 

 

71

 

Gain from early extinguishment of debt

 

 

(25

)

 

 

(72

)

 

 

(253

)

Gain from CoreTrust Transaction

 

 

—

 

 

 

—

 

 

 

(119

)

Equity in earnings of unconsolidated affiliates

 

 

(10

)

 

 

(8

)

 

 

(14

)

Provision for income taxes

 

 

79

 

 

 

191

 

 

 

170

 

Net (loss) income

 

$

(362

)

 

$

16

 

 

$

179

 

Other segment items include various purchased services and other operating expenses including, for example, lease cost and rent expense, repairs and maintenance, utilities, professional liability claims expense and software maintenance fees.