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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information

12. 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, occupational 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 condensed consolidated balance sheets.

The Company’s CODM uses net income (loss), as presented in the consolidated statements of loss, to assess performance and allocate resources. Net loss 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:

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Net operating revenues

 

$

3,159

 

 

$

3,140

 

Less:

 

 

 

 

 

 

Salaries and benefits

 

 

1,372

 

 

 

1,368

 

Supplies

 

 

489

 

 

 

487

 

Contract labor

 

 

40

 

 

 

48

 

Medical specialist fees

 

 

163

 

 

 

149

 

Other segment items

 

 

730

 

 

 

725

 

Depreciation and amortization

 

 

105

 

 

 

115

 

Interest expense

 

 

219

 

 

 

211

 

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

 

 

(24

)

 

 

17

 

Equity in earnings of unconsolidated affiliates

 

 

(2

)

 

 

(2

)

Provision for income taxes

 

 

42

 

 

 

28

 

Net income (loss)

 

$

25

 

 

$

(6

)

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.