Form 8-K
8-K — BAXTER INTERNATIONAL INC
Accession: 0001628280-26-048158
Filed: 2026-07-14
Period: 2026-07-14
CIK: 0000010456
SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — bax-20260714.htm (Primary)
EX-99.1 (bax-2026x07x14xex991.htm)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: bax-20260714.htm · Sequence: 1
bax-20260714
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 14, 2026
Baxter International Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-4448 36-0781620
(Commission File Number) (I.R.S. Employer Identification No.)
One Baxter Parkway, Deerfield, Illinois
60015
(Address of principal executive offices) (Zip Code)
(224)948-2000
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $1.00 par value BAX (NYSE) New York Stock Exchange
1.3% Global Notes due 2029 BAX 29 New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act: ☐
Item 7.01 Regulation FD Disclosure.
Baxter International Inc. (the Company) is furnishing this Current Report on Form 8-K, for informational purposes, to recast certain historical segment and product category financial information on a basis consistent with the changes described below, which are effective for the quarterly period ended June 30, 2026.
As part of its new operating model to better align decision-making, cost structure, and execution across its businesses, the Company has changed its reportable segments to reflect the way the Company's chief operating decision maker (who has been identified as the Company's President and Chief Executive Officer) allocates resources and assesses performance of the Company.
Starting in the second quarter of 2026, the Company began reporting under the following two segments: Medical Products & Therapies (MPT); and Healthcare Systems & Technologies (HST). Previously, the Company reported under the following three segments: Medical Products & Therapies; Healthcare Systems & Technologies; and Pharmaceuticals. The former Pharmaceuticals segment is now reported within the Infusion Therapies & Platforms (ITP) division of the MPT segment. Additionally, sales of products and services provided directly through certain of the Company's manufacturing facilities related to ITP that were previously reported in Other, are now reported in the ITP division of its MPT segment. The remaining Other sales not allocated to a segment consist of sales to Vantive Health LLC, pursuant to the related Manufacturing and Supply Agreement (Kidney Care MSA). Below is a summary of the new reporting segments and the related divisions and product offerings.
Reporting Segment (and related Divisions)
Product Offerings
Medical Products & Therapies
(Infusion Therapies & Platforms and Advanced Surgery)
Sales of the Company's sterile intravenous (IV) solutions, infusion systems, administration sets, parenteral nutrition therapies and surgical hemostat, sealant, and adhesion prevention products, sale of specialty injectable pharmaceuticals, inhaled anesthesia, and drug compounding, and sales of products and services provided directly through certain of the Company's manufacturing facilities.
Healthcare Systems & Technologies - unchanged
(Front Line Care and Care & Connectivity Solutions)
Sales of the Company's connected care solutions and collaboration tools, including smart bed systems, patient monitoring systems and diagnostic technologies, respiratory health devices, and advance equipment for the surgical space, including operating room integration technologies, precision positioning devices and other accessories.
In addition to the sales reallocation discussed above, the Company updated its approach to its corporate cost allocations. Certain shared corporate expenses will now remain unallocated, rather than being fully allocated to the segments (as they had been previously).
These changes do not impact the Company's previously issued consolidated financial statements except for its segment disclosures, which the Company intends to update for comparative purposes in future filings as described below and in the accompanying tables in Exhibit 99.1.
Recast Segment and Product Category Financial Information
The tables included in Exhibit 99.1 provide unaudited recast segment and product category financial information for the quarterly period ended March 31, 2026, the years ended December 31, 2025 and 2024 and each of the quarterly periods within those years (collectively, the Unaudited Recast Financial Information). The Unaudited Recast Financial Information does not represent a restatement of previously issued financial statements, does not affect the Company's reported net income, earnings per share, total assets or stockholder's equity for any of the previously reported periods, and is being provided to aid in comparability. The information in this Item 7.01, including Exhibit 99.1, should be read in conjunction with the Company's Annual Reports on Form 10-K for the years ended December 31, 2024 and December 31, 2025, the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024, September 30, 2024, March 31, 2025, June 30, 2025, September 30, 2025, and March 31, 2026 and the Company's Current Reports on Form 8-K (Items 2.02 and 9.01) filed with the U.S. Securities and Exchange Commission on May 2, 2024, August 6, 2024, November 8, 2024, February 20, 2025, May 1, 2025, July 31, 2025, October 30, 2025, February 12, 2026 and April 30, 2026 and which furnish the quarterly earnings releases for each of the related periods.
The information in this Item 7.01 of Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act) or otherwise subject to the liabilities of that section and is not incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.
Non-GAAP Financial Measures
Exhibit 99.1 presents percentage changes in operational sales growth for the year ended December 31, 2025 and each of the quarterly periods within that year and in organic sales growth for the quarterly period ended March 31, 2026. Operational sales growth excludes the impact of the Kidney Care MSA not reflected in reportable segments, reflects the previously announced exit of IV solutions in China in the MPT reportable segment and is calculated at constant currency rates. Organic sales growth excludes the impact of the Kidney Care MSA not reflected in reportable segments, impacts associated with business acquisitions or divestitures and is calculated at constant currency rates. Constant currency rates are computed using current period local currency sales at the prior period’s foreign exchange rates. Operational sales growth and organic sales growth are non-GAAP financial measures. These measures provide information about growth (or declines) in the Company’s net sales as if the Kidney Care MSA had no impact on the Company’s sales and foreign currency exchange rates had not changed between the prior period and the current period. Operational sales growth also provides information about growth (or declines) in the Company’s net sales excluding the impact of IV solutions sales in China. The Company believes that the non-GAAP measure of percent change in net sales at operational or organic sales growth, when used in conjunction with the U.S. GAAP measure of percent change in net sales at actual rates, may provide a more complete understanding and facilitate a fuller analysis of the Company’s results of operations, particularly in evaluating performance from one period to another.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
Exhibit Number Description
99.1
Recast Historical Segment Financial Information (unaudited)
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 14, 2026
BAXTER INTERNATIONAL INC.
By: /s/ Anita A. Zielinski
Name: Anita A. Zielinski
Title: Interim Chief Financial Officer and Senior Vice President,
Chief Accounting Officer and Controller
EX-99.1
EX-99.1
Filename: bax-2026x07x14xex991.htm · Sequence: 2
Document
Exhibit 99.1
BAXTER INTERNATIONAL INC.
Net Sales by Segment
Revised Basis (Non-GAAP measure)
(unaudited)
The following tables present our U.S. and international disaggregated net sales.
For the Years Ended December 31,
Reported Growth
Operational Sales Growth1
2025 2024 2025 2025
(in millions) U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total Total
Infusion Therapies & Platforms $ 3,007 $ 3,638 $ 6,645 $ 3,093 $ 3,488 $ 6,581 (3) % 4 % 1 % 1 %
Advanced Surgery 648 550 1,198 603 501 1,104 7 % 10 % 9 % 8 %
Medical Products & Therapies 3,655 4,188 7,843 3,696 3,989 7,685 (1) % 5 % 2 % 2 %
Care & Connectivity Solutions 1,372 539 1,911 1,311 503 1,814 5 % 7 % 5 % 4 %
Front Line Care 871 289 1,160 843 294 1,137 3 % (2) % 2 % 2 %
Healthcare Systems & Technologies 2,243 828 3,071 2,154 797 2,951 4 % 4 % 4 % 3 %
Other 224 106 330 — — — NM NM NM NM
Total Baxter $ 6,122 $ 5,122 $ 11,244 $ 5,850 $ 4,786 $ 10,636 5 % 7 % 6 % 3 %
For the Quarters Ended December 31,
Reported Growth
Operational Sales Growth1
2025 2024 2025 2025
(in millions) U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total Total
Infusion Therapies & Platforms $ 728 $ 1,007 $ 1,735 $ 779 $ 898 $ 1,677 (7) % 12 % 3 % 1 %
Advanced Surgery 177 151 328 157 135 292 13 % 12 % 12 % 11 %
Medical Products & Therapies 905 1,158 2,063 936 1,033 1,969 (3) % 12 % 5 % 3 %
Care & Connectivity Solutions 367 170 537 366 138 504 0 % 23 % 7 % 4 %
Front Line Care 219 71 290 208 72 280 5 % (1) % 4 % 3 %
Healthcare Systems & Technologies 586 241 827 574 210 784 2 % 15 % 5 % 4 %
Other 61 23 84 — — — NM NM NM NM
Total Baxter $ 1,552 $ 1,422 $ 2,974 $ 1,510 $ 1,243 $ 2,753 3 % 14 % 8 % 3 %
For the Quarters Ended September 30,
Reported Growth
Operational Sales Growth1
2025 2024 2025 2025
(in millions) U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total Total
Infusion Therapies & Platforms $ 740 $ 931 $ 1,671 $ 794 $ 881 $ 1,675 (7) % 6 % (0) % (0) %
Advanced Surgery 168 138 306 149 123 272 13 % 12 % 13 % 11 %
Medical Products & Therapies 908 1,069 1,977 943 1,004 1,947 (4) % 6 % 2 % 2 %
Care & Connectivity Solutions 348 125 473 335 121 456 4 % 3 % 4 % 3 %
Front Line Care 229 71 300 222 74 296 3 % (4) % 1 % 1 %
Healthcare Systems & Technologies 577 196 773 557 195 752 4 % 1 % 3 % 2 %
Other 59 26 85 — — — NM NM NM NM
Total Baxter $ 1,544 $ 1,291 $ 2,835 $ 1,500 $ 1,199 $ 2,699 3 % 8 % 5 % 2 %
For the Quarter Ended June 30,
Reported Growth
Operational Sales Growth1
2025 2024 2025 2025
(in millions) U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total Total
Infusion Therapies & Platforms $ 753 $ 896 $ 1,649 $ 792 $ 877 $ 1,669 (5) % 2 % (1) % (1) %
Advanced Surgery 158 138 296 150 127 277 5 % 9 % 7 % 5 %
Medical Products & Therapies 911 1,034 1,945 942 1,004 1,946 (3) % 3 % (0) % 0 %
Care & Connectivity Solutions 341 133 474 332 120 452 3 % 11 % 5 % 4 %
Front Line Care 221 72 293 218 78 296 1 % (8) % (1) % (1) %
Healthcare Systems & Technologies 562 205 767 550 198 748 2 % 4 % 3 % 2 %
Other 63 35 98 — — — NM NM NM NM
Total Baxter $ 1,536 $ 1,274 $ 2,810 $ 1,492 $ 1,202 $ 2,694 3 % 6 % 4 % 1 %
For the Quarters Ended March 31,
Reported Growth
Organic Sales Growth2
Operational Sales Growth1
2026 2025 2024 2026 2025 2026 2025
(in millions) U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total U.S. Int’l Total Total Total
Infusion Therapies & Platforms $ 711 $ 905 $ 1,616 $ 786 $ 804 $ 1,590 $ 728 $ 832 $ 1,560 (10) % 13 % 2 % 8 % (3) % 2 % (3) % 5 %
Advanced Surgery 165 139 304 145 123 268 147 116 263 14 % 13 % 13 % (1) % 6 % 2 % 10 % 4 %
Medical Products & Therapies 876 1,044 1,920 931 927 1,858 875 948 1,823 (6) % 13 % 3 % 6 % (2) % 2 % (1) % 5 %
Care & Connectivity Solutions 315 120 435 316 111 427 278 124 402 (0) % 8 % 2 % 14 % (10) % 6 % (0) % 7 %
Front Line Care 198 72 270 202 75 277 195 70 265 (2) % (4) % (3) % 4 % 7 % 5 % (4) % 5 %
Healthcare Systems & Technologies 513 192 705 518 186 704 473 194 667 (1) % 3 % 0 % 10 % (4) % 6 % (2) % 6 %
Other 46 30 76 41 22 63 — — — 12 % 36 % 21 % NM NM NM NM NM
Total Baxter $ 1,435 $ 1,266 $ 2,701 $ 1,490 $ 1,135 $ 2,625 $ 1,348 $ 1,142 $ 2,490 (4) % 12 % 3 % 11 % (1) % 5 % (1) % 5 %
NM: Not Meaningful
1 Operational sales growth excludes the impact of the Kidney Care manufacturing and supply agreement not reflected in reportable segments, reflects the previously announced exit of IV solutions in China in the Medical Products & Therapies reportable segment, and is calculated at constant currency rates.
2 Organic sales growth excludes the impact of the Kidney Care manufacturing and supply agreement not reflected in reportable segments, impacts associated with business acquisitions or divestitures, and is calculated at constant currency rates.
BAXTER INTERNATIONAL INC.
Segment Operating Income
Revised Basis (Non-GAAP measure)
(unaudited)
For the Years Ended December 31,
2025 2024
(in millions) Medical Products & Therapies Healthcare Systems & Technologies Medical Products & Therapies Healthcare Systems & Technologies
Net sales $ 7,843 $ 3,071 $ 7,685 $ 2,951
Cost of sales 4,850 1,599 4,506 1,468
Selling, general and administrative expenses 1,153 749 1,233 727
Research and development expenses 293 191 304 189
Other segment items (134) (33) — —
Segment operating income $ 1,681 $ 565 $ 1,642 $ 567
For the Quarters Ended December 31,
2025 2024
(in millions) Medical Products & Therapies Healthcare Systems & Technologies Medical Products & Therapies Healthcare Systems & Technologies
Net sales $ 2,063 $ 827 $ 1,969 $ 784
Cost of sales 1,368 456 1,153 371
Selling, general and administrative expenses 243 167 316 192
Research and development expenses 65 48 82 47
Other segment items (36) (9) — —
Segment operating income $ 423 $ 165 $ 418 $ 174
For the Quarters Ended September 30,
2025 2024
(in millions) Medical Products & Therapies Healthcare Systems & Technologies Medical Products & Therapies Healthcare Systems & Technologies
Net sales $ 1,977 $ 773 $ 1,947 $ 752
Cost of sales 1,226 414 1,153 369
Selling, general and administrative expenses 309 197 306 178
Research and development expenses 62 48 77 47
Other segment items (31) (8) (4) (1)
Segment operating income $ 411 $ 122 $ 415 $ 159
For the Quarters Ended June 30,
2025 2024
(in millions) Medical Products & Therapies Healthcare Systems & Technologies Medical Products & Therapies Healthcare Systems & Technologies
Net sales $ 1,945 $ 767 $ 1,946 $ 748
Cost of sales 1,157 375 1,149 382
Selling, general and administrative expenses 299 195 330 184
Research and development expenses 83 49 76 48
Other segment items (38) (8) 3 —
Segment operating income $ 444 $ 156 $ 388 $ 134
For the Quarters Ended March 31,
2026 2025 2024
(in millions) Medical Products & Therapies Healthcare Systems & Technologies Medical Products & Therapies Healthcare Systems & Technologies Medical Products & Therapies Healthcare Systems & Technologies
Net sales $ 1,920 $ 705 $ 1,858 $ 704 $ 1,823 $ 667
Cost of sales 1,237 385 1,099 354 1,051 346
Selling, general and administrative expenses 295 182 302 190 281 173
Research and development expenses 71 48 83 46 69 47
Other segment items (33) (9) (29) (8) 1 1
Segment operating income $ 350 $ 99 $ 403 $ 122 $ 421 $ 100
The following tables present our reportable segment operating income and reconciliations of reportable segment operating income to income (loss) from continuing operations before income taxes.
For the Years Ended December 31,
(in millions) 2025 2024
Medical Products & Therapies $ 1,681 $ 1,642
Healthcare Systems & Technologies 565 567
Total reportable segment operating income 2,246 2,209
Other 22 (12)
Unallocated corporate costs (678) (723)
Intangible asset amortization expense (598) (625)
Business optimization items (178) (162)
European Medical Devices Regulation (21) (33)
Indefinite-lived asset impairments (290) (50)
Separation-related costs (58) —
Legal matters (11) (17)
Acquisition and integration items (27) (23)
Product-related items (113) (15)
Hurricane Helene costs (133) (110)
Goodwill impairments (485) (425)
Gain on sale of long-lived asset 16 —
Total operating income (loss) (308) 14
Interest expense, net 238 341
Other (income) expense, net (41) (38)
Income (loss) from continuing operations before income taxes $ (505) $ (289)
For The Quarters Ended December 31,
(in millions) 2025 2024
Medical Products & Therapies $ 423 $ 418
Healthcare Systems & Technologies 165 174
Total reportable segment operating income 588 592
Other 5 (12)
Unallocated corporate costs (241) (161)
Intangible asset amortization expense (145) (154)
Business optimization items (78) (113)
European Medical Devices Regulation (6) (8)
Indefinite-lived asset impairments (290) (50)
Separation-related costs (18) —
Acquisition and integration items (13) (7)
Product-related items (52) (12)
Hurricane Helene costs (10) (85)
Goodwill impairments (485) (425)
Gain on sale of long-lived asset 16 —
Total operating income (loss) (729) (435)
Interest expense, net 58 90
Other (income) expense, net (31) (4)
Income (loss) from continuing operations before income taxes $ (756) $ (521)
For the Quarters Ended September 30,
(in millions) 2025 2024
Medical Products & Therapies $ 411 $ 415
Healthcare Systems & Technologies 122 159
Total reportable segment operating income 533 574
Other 5 (1)
Unallocated corporate costs (115) (182)
Intangible asset amortization expense (147) (159)
Business optimization items (38) (18)
Legal matters — (17)
European Medical Devices Regulation (5) (9)
Separation-related costs (13) —
Acquisition and integration items (8) (5)
Product-related items (32) (3)
Hurricane Helene costs (8) (25)
Total operating income (loss) 172 155
Interest expense, net 58 87
Other (income) expense, net (7) (1)
Income (loss) from continuing operations before income taxes $ 121 $ 69
For the Quarters Ended June 30,
(in millions) 2025 2024
Medical Products & Therapies $ 444 $ 388
Healthcare Systems & Technologies 156 134
Total reportable segment operating income 600 522
Other 6 5
Unallocated corporate costs (183) (170)
Intangible asset amortization expense (151) (154)
Business optimization items (17) (9)
European Medical Devices Regulation (5) (9)
Separation-related costs (14) —
Acquisition and integration items (5) (6)
Product-related items (23) —
Hurricane Helene costs (17) —
Total operating income (loss) 191 179
Interest expense, net 58 86
Other (income) expense, net — (24)
Income (loss) from continuing operations before income taxes $ 133 $ 117
For the Quarters Ended March 31,
(in millions) 2026 2025 2024
Medical Products & Therapies $ 350 $ 403 $ 421
Healthcare Systems & Technologies 99 122 100
Total reportable segment operating income 449 525 521
Other 7 6 (4)
Unallocated corporate costs (159) (139) (210)
Intangible asset amortization expense (146) (155) (158)
Business optimization items (68) (45) (22)
Legal matters — (11) —
European Medical Devices Regulation (4) (5) (7)
Separation-related costs (11) (13) —
Acquisition and integration items — (1) (5)
Product-related items 12 (6) —
Hurricane Helene costs (3) (98) —
Business transformation (11) — —
Total operating income (loss) 66 58 115
Interest expense, net 66 64 78
Other (income) expense, net 6 (3) (9)
Income (loss) from continuing operations before income taxes $ (6) $ (3) $ 46
BAXTER INTERNATIONAL INC.
Reconciliation of Non-GAAP Financial Measure
Change in Net Sales Growth As Reported to Operational Sales Growth
(unaudited)
From the Year Ended December 31, 2024 to the
Year Ended December 31, 2025
(in millions) Net Sales Growth As Reported Kidney Care MSA Exit of IV Solutions in China FX Operational Sales Growth*
Infusion Therapies & Platforms 1 % 0 % 1 % (1) % 1 %
Advanced Surgery 9 % 0 % 0 % (1) % 8 %
Medical Products & Therapies 2 % 0 % 1 % (1) % 2 %
Care & Connectivity Solutions 5 % 0 % 0 % (1) % 4 %
Front Line Care 2 % 0 % 0 % (0) % 2 %
Healthcare Systems & Technologies 4 % 0 % 0 % (1) % 3 %
Other NM NM NM NM NM
Total Baxter 6 % (3) % 0 % (0) % 3 %
From the Three Months Ended December 31, 2024 to the
Three Months Ended December 31, 2025
(in millions) Net Sales Growth
As Reported Kidney Care MSA Exit of IV Solutions in China FX Operational Sales Growth*
Infusion Therapies & Platforms 3 % 0 % 0 % (2) % 1 %
Advanced Surgery 12 % 0 % 0 % (1) % 11 %
Medical Products & Therapies 5 % 0 % 0 % (2) % 3 %
Care & Connectivity Solutions 7 % 0 % 0 % (3) % 4 %
Front Line Care 4 % 0 % 0 % (1) % 3 %
Healthcare Systems & Technologies 5 % 0 % 0 % (1) % 4 %
Other NM NM NM NM NM
Total Baxter 8 % (3) % 0 % (2) % 3 %
From the Three Months Ended September 30, 2024 to the
Three Months Ended September 30, 2025
(in millions) Net Sales Growth
As Reported Kidney Care MSA Exit of IV Solutions in China FX Operational Sales Growth*
Infusion Therapies & Platforms (0) % 0 % 1 % (1) % (0) %
Advanced Surgery 13 % 0 % 0 % (2) % 11 %
Medical Products & Therapies 2 % 0 % 1 % (1) % 2 %
Care & Connectivity Solutions 4 % 0 % 0 % (1) % 3 %
Front Line Care 1 % 0 % 0 % 0 % 1 %
Healthcare Systems & Technologies 3 % 0 % 0 % (1) % 2 %
Other NM NM NM NM NM
Total Baxter 5 % (3) % 1 % (1) % 2 %
From the Three Months Ended June 30, 2024 to the
Three Months Ended June 30, 2025
(in millions) Net Sales Growth
As Reported Kidney Care MSA Exit of IV Solutions in China FX Operational Sales Growth*
Infusion Therapies & Platforms (1) % 0 % 1 % (1) % (1) %
Advanced Surgery 7 % 0 % 0 % (2) % 5 %
Medical Products & Therapies (0) % 0 % 1 % (1) % 0 %
Care & Connectivity Solutions 5 % 0 % 0 % (1) % 4 %
Front Line Care (1) % 0 % 0 % 0 % (1) %
Healthcare Systems & Technologies 3 % 0 % 0 % (1) % 2 %
Other NM NM NM NM NM
Total Baxter 4 % (4) % 1 % (0) % 1 %
From the Three Months Ended March 31, 2024 to the
Three Months Ended March 31, 2025
(in millions) Net Sales Growth
As Reported Kidney Care MSA Exit of IV Solutions in China FX Operational Sales Growth*
Infusion Therapies & Platforms 2 % 0 % 1 % 2 % 5 %
Advanced Surgery 2 % 0 % 0 % 2 % 4 %
Medical Products & Therapies 2 % 0 % 1 % 2 % 5 %
Care & Connectivity Solutions 6 % 0 % 0 % 1 % 7 %
Front Line Care 5 % 0 % 0 % 0 % 5 %
Healthcare Systems & Technologies 6 % 0 % 0 % 0 % 6 %
Other NM NM NM NM NM
Total Baxter 5 % (3) % 1 % 2 % 5 %
NM: Not Meaningful
*Totals may not add across due to rounding
BAXTER INTERNATIONAL INC.
Reconciliation of Non-GAAP Financial Measure
Change in Net Sales Growth As Reported to Organic Sales Growth
(unaudited)
From the Three Months Ended March 31, 2025 to the
Three Months Ended March 31, 2026
(in millions) Net Sales Growth
As Reported Kidney Care MSA FX Organic Sales Growth*
Infusion Therapies & Platforms 2 % 0 % (5) % (3) %
Advanced Surgery 13 % 0 % (3) % 10 %
Medical Products & Therapies 3 % 0 % (4) % (1) %
Care & Connectivity Solutions 2 % 0 % (2) % (0) %
Front Line Care (3) % 0 % (1) % (4) %
Healthcare Systems & Technologies 0 % 0 % (2) % (2) %
Other 21 % (16) % (5) % 0 %
Total Baxter 3 % (1) % (3) % (1) %
*Totals may not add across due to rounding
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Document and Entity Information Document
Jul. 14, 2026
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Entity File Number
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Entity Tax Identification Number
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Entity Address, State or Province
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Entity Address, Postal Zip Code
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City Area Code
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Local Phone Number
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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
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dei_DocumentPeriodEndDate
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xbrli:dateItemType
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na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
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dei_DocumentType
Namespace Prefix:
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X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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- Definition
Name of the City or Town
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No definition available.
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Name:
dei_EntityAddressCityOrTown
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Balance Type:
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X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
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Data Type:
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- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
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Data Type:
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X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
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Balance Type:
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X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
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Data Type:
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Balance Type:
na
Period Type:
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X
- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details
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Balance Type:
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Period Type:
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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dei_EntityRegistrantName
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- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Data Type:
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Period Type:
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X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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Namespace Prefix:
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Data Type:
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Balance Type:
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X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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Data Type:
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Period Type:
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X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
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Data Type:
dei:tradingSymbolItemType
Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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- Details
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- Details
Name:
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- Details
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- Details
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