v3.26.1
Description of the Business and Basis of Presentation
3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of the Business and Basis of Presentation Description of the Business and Basis of Presentation
Reporting Entity
Ardent Health, Inc. was initially formed in Delaware in 2015 as Ardent Health Partners, LLC. On July 17, 2024, Ardent
Health Partners, LLC converted from a Delaware limited liability company into a Delaware corporation in connection with its
initial public offering and changed its name to Ardent Health Partners, Inc. On June 3, 2025, Ardent Health Partners, Inc.
changed its name to Ardent Health, Inc. Ardent Health, Inc. is a holding company that has affiliates that operate acute care
hospitals and other healthcare facilities and employ physicians. The terms "Ardent," the "Company," "we," "our" and "us," as
used in these notes to the unaudited condensed consolidated financial statements, refer to Ardent Health, Inc. and its affiliates
and on or prior to July 16, 2024, Ardent Health Partners, LLC and its affiliates, unless stated otherwise or indicated by
context. The term "affiliates" includes direct and indirect subsidiaries of Ardent and partnerships and joint ventures in which
such subsidiaries are equity owners. At March 31, 2026, the Company operated 30 acute care hospitals in six states, including
one managed hospital, two rehabilitation hospitals and two surgical hospitals.
Basis of Presentation
The financial statements include the unaudited condensed consolidated balance sheets, income statements, comprehensive
income statements, statements of cash flows and statements of changes in equity of the Company and its affiliates, which are
controlled by the Company through the Company's direct or indirect ownership of a majority equity interest and rights
granted to the Company through certain variable interests. All intercompany balances and transactions have been eliminated
in consolidation. In the opinion of management, all adjustments, which consist of normal recurring adjustments, and
disclosures considered necessary for a fair presentation have been included.
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S.
generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q
and Rule 10-01 of Regulation S-X. Certain information and disclosures normally included in annual financial statements
presented in accordance with GAAP have been omitted in these interim financial statements pursuant to rules and regulations
of the Securities and Exchange Commission ("SEC"). Accordingly, these unaudited condensed consolidated financial
statements and related notes should be read in conjunction with the Company's audited consolidated financial statements and
notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 (the "Annual
Report").
General and Administrative Costs
The majority of the Company's expenses are "cost of revenue" items. Costs that could be classified as general and
administrative by the Company include its corporate office costs and centralized corporate services, such as human resources,
information technology, and finance, which were $48.6 million and $34.9 million for the three months ended March 31, 2026
and 2025, respectively.