v3.26.1
NET OPERATING REVENUES
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
NET OPERATING REVENUES NET OPERATING REVENUES
Net operating revenues for our Hospital Operations and Ambulatory Care segments primarily consist of net patient service revenues, principally for patients covered by Medicare, Medicaid, and managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients and other uninsured discount and charity programs. Net operating revenues for our Hospital Operations segment also include revenues from providing revenue cycle management and value‑based care services to hospitals and other healthcare facilities, health systems, physician practices, employers and other clients, as well as income recognized under grant programs.
The table below presents our sources of net operating revenues:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Hospital Operations:  
Net patient service revenues from hospitals and related outpatient facilities:
Medicare$534 $530 $1,099 $1,078 
Medicaid505 379 861 759 
Managed care2,470 2,423 4,864 4,823 
Uninsured— — 9 35 
Indemnity and other159 121 309 238 
Total3,668 3,453 7,142 6,933 
Other revenues(1)
572 548 1,146 1,097 
Total Hospital Operations4,240 4,001 8,288 8,030 
Ambulatory Care1,388 1,270 2,708 2,464 
Net operating revenues$5,628 $5,271 $10,996 $10,494 
(1)Primarily revenue from physician practices and revenue cycle management.
During the three and six months ended June 30, 2026, we recognized $413 million and $826 million, respectively, of revenue related to the Omnibus Agreement, which revenue is included in revenue from contract termination in the accompanying Condensed Consolidated Statement of Operations for those periods. See Note 1 for additional information regarding this transaction.
The table below presents the composition of net operating revenues for our Ambulatory Care segment:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net patient service revenues
$1,318 $1,214 $2,584 $2,357 
Revenue from other sources70 56 124 107 
Net operating revenues$1,388 $1,270 $2,708 $2,464 
Performance Obligations
The following table presents revenue from revenue cycle management services that is expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, at the end of the reporting period:
  Six
Months
 Ending		Years EndingLater Years
December 31,
 Total20262027202820292030
Performance obligations$1,655 $1,213 $91 $91 $91 $91 $78 
The amounts in the table primarily consist of revenue cycle management fixed fees, which are typically recognized ratably as the performance obligation is satisfied. The estimated revenue does not include volume‑ or contingency‑based contracts, variable‑based escalators, performance incentives, penalties or other variable consideration that is considered constrained. The majority of the fixed-fee revenue for the year ending December 31, 2026 in the table above relates to revenue cycle management services provided to CHI, as further discussed in Note 1.