社区健康系统公司2025年季度报告

or ☐TRANSITIONREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number001-15925 COMMUNITY HEALTH SYSTEMS, INC. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and Large accelerated filer☐ Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ As of April 17, 2025, there were outstanding140,306,440shares of the Registrant’s Common Stock, $0.01 par value. Part I.Financial Information Page Item 1.Financial Statements: Condensed Consolidated Statements of Cash Flows – Three Months Ended March 31, 2025 andMarch 31, 2024 (Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited)Item 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures about Market RiskItem 4.Controls and Procedures Part II.Other Information Item 1.Legal Proceedings39Item 1A.Risk Factors40Item 2.Unregistered Sales of Equity Securities and Use of Proceeds40Item 3.Defaults Upon Senior Securities40Item 4.Mine Safety Disclosures40Item 5.Other Information41Item 6.Exhibits42 Signatures COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The unaudited condensed consolidated financial statements of Community Health Systems, Inc. (the “Parent Company”) and itssubsidiaries (together with the Parent Company, the “Company”) as ofMarch 31, 2025 and December 31, 2024 and for the three-month periods ended March 31, 2025 and 2024, have been prepared in accordance with accounting principles generally accepted inthe United States of America (“U.S. GAAP”). In the opinion of management, such information contains all adjustments, consistingonly of normal recurring adjustments, necessary for a fair presentation of the results for such periods. All intercompanytransactions and balances have been eliminated. The results of operations for the three months ended March 31, 2025, are not Certain information and disclosures normally included in the notes to the consolidated financial statements have been condensedor omitted as permitted by the rules and regulations of the Securities and Exchange Commission (the “SEC”). The Companybelieves the disclosures are adequate to make the information presented not misleading. The accompanying unaudited condensed Noncontrolling interests in less-than-wholly-owned consolidated subsidiaries of the Parent Company are presented as acomponent of total equity in the condensed consolidated balance sheets to distinguish between the interests of the Parent Companyand the interests of the noncontrolling owners. Noncontrolling interests that are redeemable or may become redeemable at a fixed Substantially all of the Company’s operating expenses are “cost of revenue” items. Operating expenses that could be classifiedas general and administrative by the Company include the Company’s corporate office costs at its Franklin, Tennessee office,which were $69million and $82million for thethree months ended March 31, 2025 and 2024, respectively. The decrease in Throughout these notes to the unaudited condensed consolidated financial statements, Community Health Systems, Inc., and itsconsolidated subsidiaries are referred to on a collective basis as the “Company.” This drafting style is not meant to indicate that thepublicly-traded Parent Company or any particular subsidiary of the Parent Company owns or operates any asset, business, or Revenue Recognition. Net Operating Revenues Net operating revenues are recorded at the transaction price estimated by the Company to reflect the total consideration duefrom patients and third-party payors in exchange for providing goods and services in patient care. These services are considered tobe a single perfor