Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent

17.  CONDENSED FINANCIAL INFORMATION OF PARENT

Parent Company Only
Condensed Balance Sheets
(In millions)
	December 31,
	2022			2021
ASSETS
Prepaid income taxes	$	99		$	94
Total current assets		99			94
Deferred income taxes		49			53
Other assets, net		—			—
Total assets	$	148		$	147
LIABILITIES AND STOCKHOLDERS' DEFICIT
Intercompany payable	$	1,159		$	1,326
Deferred income taxes		354			192
Other long-term liabilities		2			1
Total liabilities		1,515			1,519
Community Health Systems, Inc. stockholders’ deficit:
Preferred stock		—			—
Common stock		1			1
Additional paid-in capital		2,084			2,118
Accumulated other comprehensive loss		(21	)		(14	)
Accumulated deficit		(3,431	)		(3,477	)
Total Community Health Systems, Inc. stockholders’ deficit		(1,367	)		(1,372	)
Total liabilities and stockholders' deficit	$	148		$	147
See note to condensed financial statements of Parent.

Parent Company Only
Condensed Statements of Income
(In millions)
	Year Ended December 31,
	2022			2021			2020
Net operating revenues	$	—		$	—		$	—
Operating costs and expenses:
Salaries and benefits		—			—			—
Supplies		—			—			—
Other operating expenses		—			—			—
Lease cost and rent		—			—			—
Pandemic relief funds		—			—			—
Depreciation and amortization		—			—			—
Impairment and (gain) loss on sale of businesses, net		—			—			—
Total operating costs and expenses		—			—			—
Income from operations		—			—			—
Interest expense, net		—			—			—
(Gain) loss from early extinguishment of debt		—			—			—
Equity in earnings of unconsolidated affiliates		(46	)		(230	)		(511	)
Income before income taxes		46			230			511
Provision for (benefit from) income taxes		—			—			—
Net income		46			230			511
Less: Net income attributable to noncontrolling interests		—			—			—
Net income attributable to Community Health Systems, Inc.   stockholders	$	46		$	230		$	511
See note to condensed financial statements of Parent.

Parent Company Only
Condensed Statements of Comprehensive Income
(In millions)
	Year Ended December 31,
	2022			2021			2020
				(In millions)
Net income	$	46		$	230		$	511
Equity in other comprehensive (loss) income of affiliates,    net of income taxes:
Net change in fair value of interest rate swaps, net of tax		—			—			(1	)
Net change in fair value of available-for-sale debt securities, net of tax		(17	)		(5	)		4
Amortization and recognition of unrecognized pension cost    components, net of tax		10			3			(7	)
Other comprehensive loss		(7	)		(2	)		(4	)
Comprehensive income		39			228			507
Less: Comprehensive income attributable to noncontrolling interests		—			—			—
Comprehensive income attributable to Community Health Systems,    Inc. stockholders	$	39		$	228		$	507
See note to condensed financial statements of Parent.

Parent Company Only
Condensed Statements of Cash Flows
(In millions)
	Year Ended December 31,
	2022			2021			2020
Cash flows from operating activities:
Net cash used in operating activities	$	(13	)	$	(11	)	$	(12	)
Cash flows from investing activities:
Net cash provided by (used in) investing activities		—			—			—
Cash flows from financing activities:
Repurchase of restricted stock shares for payroll tax withholding    requirements		(8	)		(5	)		(1	)
Changes in intercompany balances with affiliates, net		21			16			13
Net cash provided by financing activities		13			11			12
Net change in cash and cash equivalents		—			—			—
Cash and cash equivalents at beginning of period		—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—
See note to condensed financial statements of Parent.

1. Basis of Presentation

The Parent is a holding company and operates no business in its own name; all of the Company’s business operations are conducted through subsidiaries of the Parent. The Company’s outstanding indebtedness restricts the ability of subsidiaries to dividend or otherwise provide funds to the Parent. Accordingly, these financial statements have been presented on a “parent-only” basis. Under parent-only presentation, the Parent’s investments in its consolidated subsidiaries are presented under the equity method of accounting. These parent-only financial statements should be read in conjunction with consolidated financial statements of Community Health Systems, Inc.