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| THC > SEC Filings for THC > Form 8-K on 4-Aug-2009 | All Recent SEC Filings |
4-Aug-2009
Other Events, Financial Statements and Exhibits
As previously disclosed in its Form 10-Q for the quarterly period ended June 30, 2009 ("Second Quarter Form 10-Q"), Tenet Healthcare Corporation (the "Registrant") adopted, effective January 1, 2009, the provisions of Statement of Financial Accounting Standards No. 160, "Noncontrolling Interests in Consolidated Financial Statements-an amendment of ARB No. 51" ("SFAS 160"). The statement requires noncontrolling interests in subsidiaries be reported in equity and establishes a new framework for reporting net income or loss and comprehensive income or loss by the controlling interest. SFAS 160 requires that noncontrolling interests be classified as a separate component of equity in the Registrant's consolidated financial statements on a retroactive basis and in its future filings. However, the adoption of SFAS 160 had no impact on the Registrant's financial condition, results of operations or cash flows.
As previously disclosed in the Second Quarter Form 10-Q, the Registrant also reclassified certain financial information from continuing operations to discontinued operations in the quarter ended June 30, 2009. Based on the Registrant's current plans to divest NorthShore Regional Medical Center ("NorthShore"), U.S. generally accepted accounting principles require that the results of operations of NorthShore be classified in discontinued operations on a retroactive basis. This reclassification had no impact on total assets, liabilities, equity, net income (loss) attributable to shareholders or total cash flows provided by (used in) operating, investing or financing activities.
With this Current Report on Form 8-K, the Registrant is updating the following financial information in its Annual Report on Form 10-K for the year ended December 31, 2008 (the "Form 10-K") to present such information on a basis consistent with its Second Quarter Form 10-Q:
• The consolidated financial statements, including the notes thereto, for the years ended December 31, 2008, 2007 and 2006, as set forth in Item 8. Financial Statements and Supplementary Data of Exhibit 99.1, have been revised to reflect the adoption of SFAS 160 and the reclassification of NorthShore into discontinued operations and;
• Item 6. Selected Financial Data and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations of Exhibit 99.1 have also been revised to reflect the adoption of SFAS 160 and the reclassification of NorthShore into discontinued operations.
Except as described above, no part of Exhibit 99.1 has otherwise been updated to reflect events subsequent to the filing of the Form 10-K. The attached information should be read together with the Form 10-K and the Registrant's other filings with the Securities and Exchange Commission subsequent to the Form 10-K, including its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
(d) Exhibits
Exhibit No. Description
23.1 Consent of Deloitte & Touche LLP
23.2 Consent of KPMG LLP
99.1 Reclassified Financial Information
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