$BAX
BAXTER INTERNATIONAL INC

2017 Q3 Form 10-Q Financial Statement

#000156459017021241 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $2.707B $2.558B
YoY Change 5.82% 2.85%
Cost Of Revenue $1.577B $1.487B
YoY Change 6.05% 2.34%
Gross Profit $1.130B $1.073B
YoY Change 5.31% 3.77%
Gross Profit Margin 41.74% 41.95%
Selling, General & Admin $628.0M $726.0M
YoY Change -13.5% -8.56%
% of Gross Profit 55.58% 67.66%
Research & Development $149.0M $159.0M
YoY Change -6.29% 7.43%
% of Gross Profit 13.19% 14.82%
Depreciation & Amortization $184.0M $204.0M
YoY Change -9.8% -5.56%
% of Gross Profit 16.28% 19.01%
Operating Expenses $777.0M $885.0M
YoY Change -12.2% -6.05%
Operating Profit $353.0M $186.0M
YoY Change 89.78% 102.17%
Interest Expense $22.00M $20.00M
YoY Change 10.0% -47.37%
% of Operating Profit 6.23% 10.75%
Other Income/Expense, Net -$8.000M -$44.00M
YoY Change -81.82% -51.65%
Pretax Income $290.0M $128.0M
YoY Change 126.56% -487.88%
Income Tax $42.00M $1.000M
% Of Pretax Income 14.48% 0.78%
Net Earnings $251.0M $130.0M
YoY Change 93.08% 12900.0%
Net Earnings / Revenue 9.27% 5.08%
Basic Earnings Per Share $0.46 $0.24
Diluted Earnings Per Share $0.45 $0.24
COMMON SHARES
Basic Shares Outstanding 544.0M
Diluted Shares Outstanding 551.0M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.517B $2.597B
YoY Change 35.43% -57.61%
Cash & Equivalents $3.517B $2.597B
Short-Term Investments $0.00
Other Short-Term Assets $633.0M $685.0M
YoY Change -7.59% -55.63%
Inventory $1.550B $1.568B
Prepaid Expenses
Receivables $1.748B $1.739B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.448B $6.589B
YoY Change 13.04% -40.84%
LONG-TERM ASSETS
Property, Plant & Equipment $4.488B $4.327B
YoY Change 3.72% -0.25%
Goodwill $3.117B $2.679B
YoY Change 16.35% -1.51%
Intangibles $1.371B $1.180B
YoY Change 16.19% -16.19%
Long-Term Investments
YoY Change
Other Assets $1.117B $1.020B
YoY Change 9.51% 79.58%
Total Long-Term Assets $10.09B $9.206B
YoY Change 9.64% 1.9%
TOTAL ASSETS
Total Short-Term Assets $7.448B $6.589B
Total Long-Term Assets $10.09B $9.206B
Total Assets $17.54B $15.80B
YoY Change 11.05% -21.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.567B $2.496B
YoY Change 2.84% -16.74%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $3.000M $6.000M
YoY Change -50.0% -99.39%
Total Short-Term Liabilities $2.662B $2.606B
YoY Change 2.15% -56.43%
LONG-TERM LIABILITIES
Long-Term Debt $3.495B $2.834B
YoY Change 23.32% -25.24%
Other Long-Term Liabilities $1.925B $1.691B
YoY Change 13.84% -33.82%
Total Long-Term Liabilities $5.420B $1.691B
YoY Change 220.52% -33.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.662B $2.606B
Total Long-Term Liabilities $5.420B $1.691B
Total Liabilities $8.075B $4.297B
YoY Change 87.92% -49.66%
SHAREHOLDERS EQUITY
Retained Earnings $14.05B
YoY Change 46.68%
Common Stock $6.613B
YoY Change 0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.813B
YoY Change 1.51%
Treasury Stock Shares 139.6M shares
Shareholders Equity $9.466B $8.677B
YoY Change
Total Liabilities & Shareholders Equity $17.54B $15.80B
YoY Change 11.05% -21.7%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $251.0M $130.0M
YoY Change 93.08% 12900.0%
Depreciation, Depletion And Amortization $184.0M $204.0M
YoY Change -9.8% -5.56%
Cash From Operating Activities $605.0M $532.0M
YoY Change 13.72% 108.63%
INVESTING ACTIVITIES
Capital Expenditures -$131.0M -$167.0M
YoY Change -21.56% -28.63%
Acquisitions
YoY Change
Other Investing Activities -$644.0M $1.000M
YoY Change -64500.0% -94.74%
Cash From Investing Activities -$775.0M -$166.0M
YoY Change 366.87% -22.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -175.0M -405.0M
YoY Change -56.79% -91.4%
NET CHANGE
Cash From Operating Activities 605.0M 532.0M
Cash From Investing Activities -775.0M -166.0M
Cash From Financing Activities -175.0M -405.0M
Net Change In Cash -345.0M -39.00M
YoY Change 784.62% -99.16%
FREE CASH FLOW
Cash From Operating Activities $605.0M $532.0M
Capital Expenditures -$131.0M -$167.0M
Free Cash Flow $736.0M $699.0M
YoY Change 5.29% 42.94%

Facts In Submission

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us-gaap Restructuring Reserve Accelerated Depreciation
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2000000
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3000000
bax Effect Of Currency Exchange Rate Changes
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66000000
CY2016Q3 bax Sold Receivables
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us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
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765000000
CY2016Q3 bax Terminated Interest Rate Swap Contracts
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335000000
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34000000
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bax Terminated Fair Value Hedges
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CY2016Q3 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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CY2017Q3 us-gaap Derivative Fair Value Of Derivative Asset
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CY2017Q3 us-gaap Derivative Fair Value Of Derivative Liability
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CY2017Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
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3000000
CY2017Q3 bax Derivative Fair Value Of Derivative Assets Offset By Fair Value Of Derivative Liability
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14000000
CY2016Q4 bax Derivative Fair Value Of Derivative Assets Offset By Fair Value Of Derivative Liability
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27000000
CY2017Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
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CY2017Q3 us-gaap Available For Sale Equity Securities Amortized Cost Basis
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CY2016Q4 us-gaap Available For Sale Equity Securities Amortized Cost Basis
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CY2017Q3 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Loss Before Tax
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CY2017Q3 us-gaap Available For Sale Securities Equity Securities
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11000000
CY2016Q4 us-gaap Available For Sale Securities Equity Securities
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
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0.008
us-gaap Effective Income Tax Rate Continuing Operations
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0.150
us-gaap Effective Income Tax Rate Continuing Operations
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-0.011
bax Effective Income Tax Rate Stock Compensation Program With Windfall Tax Benefits Percentage Points
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0.052
CY2017Q3 us-gaap Litigation Reserve
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15000000
CY2017Q3 us-gaap Insurance Settlements Receivable
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0
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2
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879000000
CY2016Q3 bax Earnings Before Interest Income Taxes Depreciation And Amortization
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802000000
bax Earnings Before Interest Income Taxes Depreciation And Amortization
EarningsBeforeInterestIncomeTaxesDepreciationAndAmortization
2470000000
bax Earnings Before Interest Income Taxes Depreciation And Amortization
EarningsBeforeInterestIncomeTaxesDepreciationAndAmortization
2167000000
CY2017Q3 us-gaap Depreciation And Amortization
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184000000
CY2016Q3 us-gaap Depreciation And Amortization
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204000000
us-gaap Depreciation And Amortization
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562000000
us-gaap Depreciation And Amortization
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599000000
CY2017Q3 bax Other Corporate Expenses
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329000000
CY2016Q3 bax Other Corporate Expenses
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244000000
bax Other Corporate Expenses
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783000000
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753000000

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