Baxter International Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Baxter International Inc. has filed its Q1 2024 10-Q report, detailing its financial performance and corporate information.</b>

AI Summary

BAXTER INTERNATIONAL INC (BAX) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Baxter International Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at One Baxter Parkway, Deerfield, IL 60015. Baxter International Inc. was formerly known as Baxter Travenol Laboratories Inc. and Baxter Laboratories Inc. The company's stock is traded on the New York Stock Exchange (XNYS) and Chicago Stock Exchange (XCHI).

Why It Matters

For investors and stakeholders tracking BAXTER INTERNATIONAL INC, this filing contains several important signals. This filing provides investors and analysts with the latest financial data for Baxter International Inc., enabling informed investment decisions. Understanding the company's financial health and operational status as of March 31, 2024, is crucial for assessing its current market position and future prospects.

Risk Assessment

Risk Level: low — BAXTER INTERNATIONAL INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand revenue, expenses, and cash flow for Q1 2024.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Quarterly report)
• 2024-05-02 — Filing Date (10-Q filing)
• 1231 — Fiscal Year End (Company fiscal year)

Key Players & Entities

• BAXTER INTERNATIONAL INC (company) — Filer name
• BAX (company) — Ticker symbol
• 10-Q (regulator) — Form type
• 2024-05-02T00:00:00.000Z (dollar_amount) — Filing date
• 2024-03-31 (dollar_amount) — Reporting period end date
• One Baxter Parkway (company) — Business address
• DEERFIELD (company) — City in business address
• IL (company) — State in business address

FAQ

Industry Context

Baxter International Inc. operates in the healthcare industry, specifically in the medical instruments and apparatus sector.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for the quarter ended March 31, 2024.
2. Examine any disclosures regarding changes in business operations or financial condition.
3. Compare the Q1 2024 results with previous periods to identify trends.

Year-Over-Year Comparison

This is the initial filing for the first quarter of 2024, so direct comparison to the prior quarter's 10-Q is not applicable here, but it follows the standard 10-Q format.

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value BAX (NYSE) New York Stock Exc

Filing Documents

• bax-20240331.htm (10-Q) — 1394KB
• bax-20240331xex311.htm (EX-31.1) — 10KB
• bax-20240331xex312.htm (EX-31.2) — 9KB
• bax-20240331ex321.htm (EX-32.1) — 4KB
• bax-20240331xex322.htm (EX-32.2) — 4KB
• 0001628280-24-019786.txt (&nbsp;) — 8832KB
• bax-20240331.xsd (EX-101.SCH) — 63KB
• bax-20240331_cal.xml (EX-101.CAL) — 101KB
• bax-20240331_def.xml (EX-101.DEF) — 320KB
• bax-20240331_lab.xml (EX-101.LAB) — 750KB
• bax-20240331_pre.xml (EX-101.PRE) — 538KB
• bax-20240331_htm.xml (XML) — 1434KB

Financial Statements (unaudited)

Financial Statements (unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income (Loss) 4 Condensed Consolidated Statements of Changes in Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 43 PART II. OTHER INFORMATION 44 Item 1.

Legal Proceedings

Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Other Information

Item 5. Other Information 44 Item 6. Exhibits 45 Signature 46

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Baxter International Inc. Condensed Consolidated Balance Sheets (unaudited) (in millions, except share information) March 31, 2024 December 31, 2023 Current assets: Cash and cash equivalents $ 3,026 $ 3,194 Accounts receivable, net of allowances of $ 121 in 2024 and $ 129 in 2023 2,521 2,690 Inventories 2,988 2,824 Prepaid expenses and other current assets 865 892 Total current assets 9,400 9,600 Property, plant and equipment, net 4,370 4,433 Goodwill 6,430 6,514 Other intangible assets, net 5,905 6,079 Operating lease right-of-use assets 531 524 Other non-current assets 1,152 1,126 Total assets $ 27,788 $ 28,276 Current liabilities: Current maturities of long-term debt and finance lease obligations $ 2,634 $ 2,668 Accounts payable 1,329 1,241 Accrued expenses and other current liabilities 2,402 2,594 Total current liabilities 6,365 6,503 Long-term debt and finance lease obligations, less current portion 11,092 11,130 Operating lease liabilities 444 438 Other non-current liabilities 1,652 1,737 Total liabilities 19,553 19,808 Commitments and contingencies Equity: Common stock, $ 1 par value, authorized 2,000,000,000 shares, issued 683,494,944 shares in 2024 and 2023 683 683 Common stock in treasury, at cost, 173,930,493 shares in 2024 and 175,861,893 shares in 2023 ( 11,130 ) ( 11,230 ) Additional contributed capital 6,339 6,389 Retained earnings 16,003 16,114 Accumulated other comprehensive loss ( 3,722 ) ( 3,554 ) Total Baxter stockholders' equity 8,173 8,402 Noncontrolling interests 62 66 Total equity 8,235 8,468 Total liabilities and equity $ 27,788 $ 28,276 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Baxter International Inc. Condensed Consolidated Statements of Income (unaudited) (in millions, except per share data) Three months ended March 31, 2024 2023 Net sales $ 3,592 $ 3,513 Cost of sales 2,205 2,238 Gross margin 1,

View Full Filing

View this 10-Q filing on SEC EDGAR