2014 Q4 Form 10-K Financial Statement

#000119312516479471 Filed on February 26, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $2.789B $2.709B $2.703B
YoY Change -35.47% -26.98% -24.31%
Cost Of Revenue $1.712B $1.516B $2.185B
YoY Change -21.83% -15.96% 26.3%
Gross Profit $1.207B $1.193B $1.093B
YoY Change -39.53% -37.41% -41.68%
Gross Profit Margin 43.28% 44.04% 40.44%
Selling, General & Admin $812.0M $827.0M $988.0M
YoY Change -12.78% -15.18% 17.9%
% of Gross Profit 67.27% 69.32% 90.39%
Research & Development $154.0M $149.0M $322.0M
YoY Change -46.71% -46.21% 17.95%
% of Gross Profit 12.76% 12.49% 29.46%
Depreciation & Amortization $413.0M $103.0M $253.0M
YoY Change 65.2% -50.24% 38.25%
% of Gross Profit 34.22% 8.63% 23.15%
Operating Expenses $966.0M $976.0M $1.310B
YoY Change -20.82% -22.04% 17.91%
Operating Profit $241.0M $217.0M -$217.0M
YoY Change -68.94% -66.82% -128.44%
Interest Expense -$29.00M $36.00M $47.00M
YoY Change -50.0% -29.41% 95.83%
% of Operating Profit -12.03% 16.59%
Other Income/Expense, Net -$47.00M $16.00M -$15.00M
YoY Change -214.63% -70.91% -77.94%
Pretax Income $109.0M $202.0M $838.0M
YoY Change -79.2% -78.51% -17.76%
Income Tax -$18.00M $27.00M $134.0M
% Of Pretax Income -16.51% 13.37% 15.99%
Net Earnings $953.0M $468.0M $520.0M
YoY Change 192.33% -13.97% -11.86%
Net Earnings / Revenue 34.17% 17.28% 19.24%
Basic Earnings Per Share $1.76 $0.86 $0.96
Diluted Earnings Per Share $1.74 $0.86 $0.95
COMMON SHARES
Basic Shares Outstanding 542.0M shares 542.0M shares 542.0M shares
Diluted Shares Outstanding 547.0M shares 548.0M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.925B $2.078B $1.866B
YoY Change 7.03% -12.54% -68.84%
Cash & Equivalents $2.925B $2.078B $1.866B
Short-Term Investments $0.00
Other Short-Term Assets $380.0M $1.007B $871.0M
YoY Change -63.88% 15.22% 10.96%
Inventory $1.577B $3.704B $3.836B
Prepaid Expenses
Receivables $1.884B $2.842B $2.914B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.16B $9.631B $9.487B
YoY Change -0.32% 0.35% -22.14%
LONG-TERM ASSETS
Property, Plant & Equipment $4.434B $8.448B $8.152B
YoY Change 0.59% 12.37% 28.16%
Goodwill $2.927B $4.016B $4.226B
YoY Change -11.03% 6.24% 69.18%
Intangibles $1.620B $2.185B $2.329B
YoY Change -29.38% -18.53% 121.18%
Long-Term Investments
YoY Change
Other Assets $930.0M $1.283B $1.435B
YoY Change 33.24% -23.31% -13.24%
Total Long-Term Assets $15.98B $15.93B $16.14B
YoY Change 6.3% 1.78% 39.56%
TOTAL ASSETS
Total Short-Term Assets $10.16B $9.631B $9.487B
Total Long-Term Assets $15.98B $15.93B $16.14B
Total Assets $26.14B $25.56B $25.63B
YoY Change 3.62% 1.24% 7.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.654B $4.458B $4.479B
YoY Change -36.81% -2.56% 10.29%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $913.0M $392.0M $186.0M
YoY Change 404.42% 833.33% 463.64%
Long-Term Debt Due $785.0M $1.123B $1.125B
YoY Change -8.61% 201.88% 197.62%
Total Short-Term Liabilities $6.037B $5.990B $5.795B
YoY Change 15.03% 19.9% 28.32%
LONG-TERM LIABILITIES
Long-Term Debt $7.331B $7.753B $7.528B
YoY Change -9.78% -10.39% -12.71%
Other Long-Term Liabilities $2.937B $3.394B $3.619B
YoY Change -12.69% -11.98% 9.8%
Total Long-Term Liabilities $2.937B $3.394B $3.619B
YoY Change -12.69% -11.98% 9.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.037B $5.990B $5.795B
Total Long-Term Liabilities $2.937B $3.394B $3.619B
Total Liabilities $8.974B $9.384B $9.414B
YoY Change 4.2% 6.01% 20.51%
SHAREHOLDERS EQUITY
Retained Earnings $13.23B $12.56B $12.38B
YoY Change 11.6% 6.54% 7.48%
Common Stock $6.536B $6.499B $6.468B
YoY Change 0.54% 851.54% 847.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.993B $8.004B $8.039B
YoY Change 1.0% 1.18% 1.57%
Treasury Stock Shares 141.1M shares 141.3M shares 141.8M shares
Shareholders Equity $8.120B $8.404B $8.662B
YoY Change
Total Liabilities & Shareholders Equity $26.14B $25.56B $25.63B
YoY Change 3.62% 1.24% 7.91%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $953.0M $468.0M $520.0M
YoY Change 192.33% -13.97% -11.86%
Depreciation, Depletion And Amortization $413.0M $103.0M $253.0M
YoY Change 65.2% -50.24% 38.25%
Cash From Operating Activities $1.143B $914.0M $599.0M
YoY Change 5.54% -5.38% -21.49%
INVESTING ACTIVITIES
Capital Expenditures -$1.274B $220.0M -$423.0M
YoY Change 161.07% -155.28% 21.9%
Acquisitions
YoY Change
Other Investing Activities $1.277B -$839.0M -$119.0M
YoY Change -1716.46% -77.21% 495.0%
Cash From Investing Activities $3.000M -$619.0M -$542.0M
YoY Change -100.53% -84.82% 47.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -275.0M -55.00M -220.0M
YoY Change 83.33% -89.0% -107.6%
NET CHANGE
Cash From Operating Activities 1.143B 914.0M 599.0M
Cash From Investing Activities 3.000M -619.0M -542.0M
Cash From Financing Activities -275.0M -55.00M -220.0M
Net Change In Cash 871.0M 240.0M -163.0M
YoY Change 137.98% -106.64% -104.95%
FREE CASH FLOW
Cash From Operating Activities $1.143B $914.0M $599.0M
Capital Expenditures -$1.274B $220.0M -$423.0M
Free Cash Flow $2.417B $694.0M $1.022B
YoY Change 53.85% -49.12% -7.93%

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BAXTER INTERNATIONAL INC
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<div> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <font style="FONT-FAMILY: 'Times New Roman'" size="2">The preparation of the financial statements in conformity with generally accepted accounting principles (GAAP) requires the company to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from those estimates.</font></p> </div>
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