Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

18. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY


Parent Company Only
Condensed Balance Sheets
(In millions)
	December 31,
	2024			2023
ASSETS
Prepaid income taxes	$	53		$	77
Total current assets		53			77
Deferred income taxes		13			29
Other assets, net		—			—
Total assets	$	66		$	106
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Intercompany payable	$	1,705		$	1,083
Deferred income taxes		231			369
Other long-term liabilities		44			46
Total liabilities		1,980			1,498
Community Health Systems, Inc. stockholders’ deficit:
Preferred stock		—			—
Common stock		1			1
Additional paid-in capital		2,175			2,185
Accumulated other comprehensive loss		(10	)		(14	)
Accumulated deficit		(4,080	)		(3,564	)
Total Community Health Systems, Inc. stockholders’ deficit		(1,914	)		(1,392	)
Total liabilities and stockholders’ deficit	$	66		$	106

See note to condensed financial statements of Parent Company.


Parent Company Only
Condensed Statements of (Loss) Income
(In millions)
	Year Ended December 31,
	2024			2023			2022
Net operating revenues	$	—		$	—		$	—
Operating expenses:
Salaries and benefits		—			—			—
Supplies		—			—			—
Other operating expenses		—			—			—
Lease cost and rent		—			—			—
Pandemic relief funds		—			—			—
Depreciation and amortization		—			—			—
Impairment and (gain) loss on sale of businesses, net		—			—			—
Total operating expenses		—			—			—
Income from operations		—			—			—
Interest expense, net		—			—			—
(Gain) loss from early extinguishment of debt		—			—			—
Equity in loss (earnings) of unconsolidated affiliates		516			133			(46	)
(Loss) income before income taxes		(516	)		(133	)		46
Provision for (benefit from) income taxes		—			—			—
Net (loss) income		(516	)		(133	)		46
Less: Net income attributable to noncontrolling interests		—			—			—
Net (loss) income attributable to Community Health Systems, Inc. stockholders	$	(516	)	$	(133	)	$	46

See note to condensed financial statements of Parent Company.


Parent Company Only
Condensed Statements of Comprehensive (Loss) Income
(In millions)
	Year Ended December 31,
	2024			2023			2022
				(In millions)
Net (loss) income	$	(516	)	$	(133	)	$	46
Equity in other comprehensive (loss) income of affiliates, net of income taxes:
Net change in fair value of available-for-sale debt securities, net of tax		—			6			(17	)
Amortization and recognition of unrecognized pension cost components, net of tax		4			1			10
Other comprehensive income (loss)		4			7			(7	)
Comprehensive (loss) income		(512	)		(126	)		39
Less: Comprehensive income attributable to noncontrolling interests		—			—			—
Comprehensive (loss) income attributable to Community Health Systems, Inc. stockholders	$	(512	)	$	(126	)	$	39

See note to condensed financial statements of Parent Company.


Parent Company Only
Condensed Statements of Cash Flows
(In millions)
	Year Ended December 31,
	2024			2023			2022
Cash flows from operating activities:
Net cash used in operating activities	$	(167	)	$	(85	)	$	(13	)
Cash flows from investing activities:
Net cash provided by (used in) investing activities		—			—			—
Cash flows from financing activities:
Repurchase of restricted stock shares for payroll tax withholding requirements		(2	)		(4	)		(8	)
Changes in intercompany balances with affiliates, net		169			89			21
Net cash provided by financing activities		167			85			13
Net change in cash and cash equivalents		—			—			—
Cash and cash equivalents at beginning of period		—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—

See note to condensed financial statements of Parent Company.

Basis of Presentation

The Parent Company is a holding company and operates no business in its own name; all of the Company’s business operations are conducted through subsidiaries of the Parent Company. The Company’s outstanding indebtedness restricts the ability of subsidiaries to dividend or otherwise provide funds to the Parent Company. Accordingly, these financial statements have been presented on a “parent-only” basis. Under parent-only presentation, the Parent Company’s investments in its consolidated subsidiaries are presented under the equity method of accounting. These parent-only financial statements should be read in conjunction with consolidated financial statements of Community Health Systems, Inc.