| Segment Reporting |
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Three Months Ended June 30, 2026 |
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Acute Care
Hospital
Services |
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Behavioral
Health Care
Services (c) |
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Total |
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(amounts in thousands) |
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Net revenue from reportable segments |
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$ |
2,609,999 |
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$ |
2,025,065 |
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$ |
4,635,064 |
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Reconciliation of Net Revenue |
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Non-segment revenue |
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2,948 |
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Total Net Revenue |
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$ |
4,638,012 |
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Salaries, wages and benefits |
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$ |
999,864 |
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$ |
1,040,604 |
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Other segment item operating expenses (a) |
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1,275,546 |
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514,439 |
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Depreciation and amortization expense |
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106,623 |
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58,895 |
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Interest (income) expense, net |
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1,301 |
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1,273 |
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Other (income) expense, net |
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(985 |
) |
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(983 |
) |
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Reportable segment income before income taxes |
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$ |
227,650 |
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$ |
410,837 |
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$ |
638,487 |
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Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
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Non-segment revenue |
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2,948 |
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Non-segment operating expenses (b) |
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125,366 |
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Non-segment interest expense, net |
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37,338 |
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Non-segment other (income) expense, net |
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(395 |
) |
Income before income taxes |
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$ |
479,126 |
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Six Months Ended June 30, 2026 |
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Acute Care
Hospital
Services |
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Behavioral
Health Care
Services (c) |
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Total |
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(amounts in thousands) |
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Net revenue from reportable segments |
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$ |
5,220,135 |
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$ |
3,907,217 |
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$ |
9,127,352 |
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Reconciliation of Net Revenue |
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Non-segment revenue |
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5,842 |
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Total Net Revenue |
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$ |
9,133,194 |
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Salaries, wages and benefits |
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$ |
1,972,710 |
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$ |
2,041,698 |
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Other segment item operating expenses (a) |
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2,529,903 |
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976,639 |
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Depreciation and amortization expense |
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|
202,941 |
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115,529 |
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Interest (income) expense, net |
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|
2,287 |
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2,545 |
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Other (income) expense, net |
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(3,117 |
) |
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(1,866 |
) |
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Reportable segment income before income taxes |
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$ |
515,411 |
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$ |
772,672 |
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$ |
1,288,083 |
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Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
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Non-segment revenue |
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5,842 |
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Non-segment operating expenses (b) |
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274,239 |
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Non-segment interest expense, net |
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72,213 |
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Non-segment other (income) expense, net |
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(769 |
) |
Income before income taxes |
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$ |
948,242 |
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Three Months Ended June 30, 2025 |
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Acute Care
Hospital
Services |
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Behavioral
Health Care
Services (c) |
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Total |
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Net revenue from reportable segments |
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$ |
2,403,837 |
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$ |
1,877,273 |
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$ |
4,281,110 |
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Reconciliation of Net Revenue |
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Non-segment revenue |
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2,706 |
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Total Net Revenue |
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$ |
4,283,816 |
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Salaries, wages and benefits |
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$ |
938,708 |
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$ |
975,553 |
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Other segment item operating expenses (a) |
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1,142,886 |
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|
452,664 |
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Depreciation and amortization expense |
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|
96,459 |
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53,170 |
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Interest expense, net |
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(1,613 |
) |
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|
1,104 |
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Other expense (income), net |
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|
(916 |
) |
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|
(837 |
) |
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Reportable segment income before income taxes |
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$ |
228,313 |
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$ |
395,619 |
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$ |
623,932 |
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Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
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Non-segment revenue |
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2,706 |
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Non-segment operating expenses (b) |
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|
124,106 |
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Non-segment interest expense, net |
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35,873 |
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Non-segment other (income) expense, net |
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(6,726 |
) |
Income before income taxes |
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$ |
473,385 |
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Six Months Ended June 30, 2025 |
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Acute Care
Hospital
Services |
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|
Behavioral
Health Care
Services (c) |
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Total |
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(amounts in thousands) |
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Net revenue from reportable segments |
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$ |
4,761,651 |
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$ |
3,616,337 |
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$ |
8,377,988 |
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Reconciliation of Net Revenue |
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Non-segment revenue |
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5,548 |
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Total Net Revenue |
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$ |
8,383,536 |
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Salaries, wages and benefits |
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$ |
1,854,232 |
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$ |
1,898,919 |
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Other segment item operating expenses (a) |
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2,233,584 |
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|
881,438 |
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Depreciation and amortization expense |
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191,362 |
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104,322 |
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Interest expense, net |
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|
649 |
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2,179 |
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Other expense (income), net |
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(9,183 |
) |
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(1,662 |
) |
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Reportable segment income before income taxes |
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$ |
491,007 |
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$ |
731,141 |
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$ |
1,222,148 |
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Reconciliation of non-segment revenue/expenses to consolidated income before income taxes |
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Non-segment revenue |
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5,548 |
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Non-segment operating expenses (b) |
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|
264,584 |
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Non-segment interest expense, net |
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72,592 |
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Non-segment other (income) expense, net |
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(3,293 |
) |
Income before income taxes |
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$ |
893,813 |
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(a)Other segment operating expenses for each period includes other operating expenses, supplies expense and lease and rental expense. (b)Non-segment operating expenses for each period includes salaries, wages and benefits, other operating expenses, supplies expense and lease and rental expense. (c)Includes net revenues generated from our behavioral health care facilities located in the U.K. amounting to approximately $269 million and $247 million for the three-month periods ended June 30, 2026 and 2025, respectively, and approximately $530 million and $474 million for the six-month periods ended June 30, 2026 and 2025, respectively.
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