HCA · 10-Q · 2026Q3 · Full report

Outstanding Indebtedness

HCA Healthcare, Inc. · 2026-10-29 · Importance 56 · Surprise 24 · No source text

Total debt was $50.493 billion at September 30, 2026, including $6.027 billion of variable-rate debt and $44.466 billion of fixed-rate debt. In April 2026, HCA issued $3.0 billion of senior notes due in 2031, 2033, and 2036 and used the proceeds to repay commercial paper borrowings and for general corporate purposes. In May 2026, HCA redeemed $2.5 billion of senior notes due 2026, and in July it increased its commercial paper program limit from $4.0 billion to $8.0 billion. A hypothetical 1% increase in interest rates was estimated to reduce annualized future pretax earnings by approximately $60 million.

Key facts

• HCA issued $3.000 billion of senior notes in April 2026: $1.000 billion of 4.700% notes due 2031, $750 million of 5.000% notes due 2033, and $1.250 billion of 5.300% notes due 2036. source
• In July 2026, HCA increased its commercial paper program maximum outstanding amount from $4.000 billion to $8.000 billion. source
• In May 2026, HCA redeemed all $1.500 billion of 5.250% senior notes due 2026 and all $1.000 billion of 5.375% senior notes due 2026. source
• HCA intends to maintain available borrowing capacity under its $8.000 billion senior unsecured credit facility equal to the amount outstanding under its commercial paper program. source
• HCA’s average debt balance was $49.743 billion in third-quarter 2026 versus $44.400 billion in third-quarter 2025; average effective debt interest rates were 4.8% and 5.0%, respectively. source
• HCA’s debt totaled $50.493 billion at September 30, 2026. source
• A hypothetical 1% increase in interest rates would reduce HCA’s future annualized pretax earnings by approximately $60 million. source
• At September 30, 2026, $6.027 billion of HCA debt had variable interest rates and $44.466 billion had fixed rates. source

Impact estimates