Ardent Health Partners Inc 2025年季度报告

Ardent Health Partners, Inc. (Exact name of Registrant as specified in its charter) 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 Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Condensed Consolidated Statements of Cash Flows for thethree months endedMarch 31, 2025and2024(Unaudited)4Condensed Consolidated Statements of Changes in Equity for thethree months endedMarch 31, 2025and2024(Unaudited)5Notes to Condensed Consolidated Financial Statements(Unaudited)6Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations20Item 3.Quantitative and Qualitative Disclosures About Market Risk36Item 4.Controls and Procedures36 PART II.OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures ARDENT HEALTH PARTNERS, INC.CONDENSED CONSOLIDATED INCOME STATEMENTSUnaudited Total revenueExpenses:Salaries and benefitsProfessional feesSupplies ARDENT HEALTH PARTNERS, INC.CONDENSED CONSOLIDATEDCOMPREHENSIVE INCOMESTATEMENTS ARDENT HEALTH PARTNERS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS Assets Current assets:Cash and cash equivalentsAccounts receivable Liabilities and Equity (1)As ofMarch 31, 2025andDecember 31, 2024, the unaudited condensed consolidated balance sheets included total liabilities of consolidated variable interest entities of$304.8millionand$306.4million, respectively. Refer toNote2,Summary of Significant Accounting Policies,for further discussion. The accompanying notes are an integral part of these condensed consolidated financial statements. ARDENT HEALTH PARTNERS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Table of Contents ARDENT HEALTH PARTNERS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1.Description of the Business and Basis of Presentation Reporting Entity Ardent Health Partners, 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 corporationin connectionwith its initial public offering and changed its name to Ardent Health Partners, Inc. Ardent Health Partners, Inc. is a holdingcompany 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 financialstatements, refer to Ardent Health Partners, 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 Basis of Presentation The financial statements include the unaudited condensed consolidated balance sheets, income statements,comprehensiveincomestatements, statements of cash flows and statements of changes in equity of the Company and its affiliates, which arecontrolled by the Company through the Company’s direct or indirect ownership of a majority equity interest and rightsgranted to the Company through certain variable interests.All intercompany balances and transactions have been eliminated Certain information and disclosures normally included in annual financial statements presented in accordance with U.S.generally accepted accounting principles (“GAAP”) have been omitted in these interim financial statements pursuant to rulesand regulations of the Securities and Exchange Commission (“SEC”). Accordingly, these unaudited condensed consolidatedfinancial statements and related notes should be read in conjunction with the Company's audited consolidated financial Initial Public Offering and Corporate Conversion On July 19, 2024, the Company completed an initial public offering of12,000,000shares of its common stock at a publicoffering price of$16.00 per share (the "IPO") for aggregate gross proceeds of$192.0 million and net proceeds