$BAX
BAXTER INTERNATIONAL INC

2013 Q2 Form 10-Q Financial Statement

#000119312513312869 Filed on July 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $3.571B $3.572B
YoY Change -0.03% 1.02%
Cost Of Revenue $1.730B $1.700B
YoY Change 1.76% -0.06%
Gross Profit $1.874B $1.872B
YoY Change 0.11% 2.02%
Gross Profit Margin 52.48% 52.41%
Selling, General & Admin $838.0M $789.0M
YoY Change 6.21% 3.14%
% of Gross Profit 44.72% 42.15%
Research & Development $273.0M $306.0M
YoY Change -10.78% 28.03%
% of Gross Profit 14.57% 16.35%
Depreciation & Amortization $183.0M $180.0M
YoY Change 1.67% 6.51%
% of Gross Profit 9.77% 9.62%
Operating Expenses $1.111B $1.095B
YoY Change 1.46% 7.67%
Operating Profit $763.0M $777.0M
YoY Change -1.8% -5.01%
Interest Expense $24.00M $27.00M
YoY Change -11.11% -280.0%
% of Operating Profit 3.15% 3.47%
Other Income/Expense, Net -$68.00M $62.00M
YoY Change -209.68%
Pretax Income $1.019B $986.0M
YoY Change 3.35% 22.79%
Income Tax $153.0M $156.0M
% Of Pretax Income 15.01% 15.82%
Net Earnings $590.0M $661.0M
YoY Change -10.74% 7.48%
Net Earnings / Revenue 16.52% 18.51%
Basic Earnings Per Share $1.09 $1.20
Diluted Earnings Per Share $1.07 $1.19
COMMON SHARES
Basic Shares Outstanding 543.0M shares 550.0M shares
Diluted Shares Outstanding 549.0M shares 553.0M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.989B $2.353B
YoY Change 154.53% 16.6%
Cash & Equivalents $5.989B $2.353B
Short-Term Investments
Other Short-Term Assets $785.0M $740.0M
YoY Change 6.08% 13.5%
Inventory $3.069B $2.730B
Prepaid Expenses
Receivables $2.342B $2.225B
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.19B $8.048B
YoY Change 51.4% 3.06%
LONG-TERM ASSETS
Property, Plant & Equipment $6.361B $5.623B
YoY Change 13.12% 2.59%
Goodwill $2.498B
YoY Change
Intangibles $1.053B
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.654B $1.421B
YoY Change 16.4% -10.12%
Total Long-Term Assets $11.57B $10.40B
YoY Change 11.23% 4.69%
TOTAL ASSETS
Total Short-Term Assets $12.19B $8.048B
Total Long-Term Assets $11.57B $10.40B
Total Assets $23.75B $18.45B
YoY Change 28.76% 3.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.061B $3.988B
YoY Change 1.83% -0.52%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $33.00M $385.0M
YoY Change -91.43% 2861.54%
Long-Term Debt Due $378.0M $497.0M
YoY Change -23.94% 5422.22%
Total Short-Term Liabilities $4.516B $4.870B
YoY Change -7.27% 20.81%
LONG-TERM LIABILITIES
Long-Term Debt $8.624B $4.432B
YoY Change 94.58% 1.23%
Other Long-Term Liabilities $3.296B $2.532B
YoY Change 30.17% 21.26%
Total Long-Term Liabilities $3.296B $6.964B
YoY Change -52.67% 7.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.516B $4.870B
Total Long-Term Liabilities $3.296B $6.964B
Total Liabilities $7.812B $11.90B
YoY Change -34.33% 10.71%
SHAREHOLDERS EQUITY
Retained Earnings $11.52B
YoY Change
Common Stock $683.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.915B
YoY Change
Treasury Stock Shares 140.9M shares
Shareholders Equity $7.282B $6.551B
YoY Change
Total Liabilities & Shareholders Equity $23.75B $18.45B
YoY Change 28.76% 3.97%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $590.0M $661.0M
YoY Change -10.74% 7.48%
Depreciation, Depletion And Amortization $183.0M $180.0M
YoY Change 1.67% 6.51%
Cash From Operating Activities $763.0M $1.001B
YoY Change -23.78% 58.39%
INVESTING ACTIVITIES
Capital Expenditures -$347.0M -$264.0M
YoY Change 31.44% 25.71%
Acquisitions
YoY Change
Other Investing Activities -$20.00M -$44.00M
YoY Change -54.55% -46.34%
Cash From Investing Activities -$367.0M -$308.0M
YoY Change 19.16% 5.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.895B -576.0M
YoY Change -602.6% 15.66%
NET CHANGE
Cash From Operating Activities 763.0M 1.001B
Cash From Investing Activities -367.0M -308.0M
Cash From Financing Activities 2.895B -576.0M
Net Change In Cash 3.291B 117.0M
YoY Change 2712.82% -174.05%
FREE CASH FLOW
Cash From Operating Activities $763.0M $1.001B
Capital Expenditures -$347.0M -$264.0M
Free Cash Flow $1.110B $1.265B
YoY Change -12.25% 50.24%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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BAXTER INTERNATIONAL INC
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dei Document Type
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CY2013Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
20000000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1019000000
CY2013Q2 us-gaap Gross Profit
GrossProfit
1939000000
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
2000000
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000000 shares
CY2013Q2 us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
131000000
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeBeforeTax
26000000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
590000000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
153000000
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
838000000
CY2013Q2 us-gaap Interest Expense
InterestExpense
24000000
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
3000000
CY2013Q2 bax Cash Collections Remitted To Owners Of Receivables
CashCollectionsRemittedToOwnersOfReceivables
123000000
CY2013Q2 bax Net Interest Expense
NetInterestExpense
17000000
CY2013Q2 bax Effect Of Currency Exchange Rate Changes
EffectOfCurrencyExchangeRateChanges
1000000
CY2013Q2 bax Stock Based Compensation In Marketing And Administrative Expenses
StockBasedCompensationInMarketingAndAdministrativeExpenses
0.70 pure
CY2013Q2 bax Other Comprehensive Income Loss Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentsNetOfTax
-24000000
CY2013Q2 bax Business Optimization Reserve Other Adjustments
BusinessOptimizationReserveOtherAdjustments
-20000000

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