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ACQUISITIONS AND OTHER ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Total Consideration

The following table summarizes the fair value of consideration transferred:

(in millions)
Cash consideration transferred			$	190
Contingent consideration			18
Total consideration			$	208

Summary of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date:

(in millions)
Assets acquired and liabilities assumed
Cash and cash equivalents			$	399
Accounts receivable			591
Inventories			560
Prepaid expenses and other current assets			49
Property, plant and equipment			503
Goodwill			6,785
Other intangible assets			6,022
Operating lease right-of-use assets			74
Other non-current assets			128
Short-term debt			(250)
Accounts payable			(140)
Accrued expenses and other current liabilities			(552)
Long-term debt and finance lease obligations			(2,118)
Operating lease liabilities			(57)
Other non-current liabilities			(1,518)
Total assets acquired and liabilities assumed			$	10,476

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date:

(in millions)
Assets acquired and liabilities assumed
Cash			$	2
Accounts receivable, net			3
Inventories			1
Prepaid expenses and other current assets			1
Property, plant and equipment			1
Goodwill			84
Other intangible assets			131
Operating lease right-of-use assets			1
Accounts payable and accrued liabilities			(4)
Other non-current liabilities			(12)
Total assets acquired and liabilities assumed			$	208

Business Acquisition, Pro Forma Information

The following table presents the unaudited pro forma combined results of Baxter and Hillrom for the years ended December 31, 2021 and 2020 as if the acquisition of Hillrom had occurred on January 1, 2020:

years ended December 31 (in millions)			2021			2020
Net sales			$	15,574		$	14,610
Net income attributable to Baxter stockholders			962			635

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the fair value of the total consideration paid:

(in millions)
Cash consideration paid to Hillrom shareholders(a)			$	10,474
Fair value of equity awards issued to Hillrom equity award holders(b)			2
Total Consideration			$	10,476

(a) Represents cash consideration transferred of $156.00 per outstanding Hillrom common share to existing shareholders and holders of equity awards that vested at closing pursuant to their original terms.

(b) Represents the pre-acquisition service portion of the fair value of 668 thousand replacement restricted stock units issued to Hillrom equity award holders at closing.

Asset Acquisition

The following table summarizes the fair value of the consideration transferred:

(in millions)
Cash			$	25
Contingent Consideration			28
Total Consideration			$	53

The following table summarizes the fair value of the assets acquired as of the acquisition date:

(in millions)
Assets acquired
Goodwill			$	4
Other intangible assets			49
Total assets acquired			$	53

The following table summarizes the fair value of the consideration transferred:

(in millions)
Cash			$	60
Contingent Consideration			24
Total Consideration			$	84

The following table summarizes the fair value of the assets acquired as of the acquisition date:

(in millions)
Assets acquired
Inventory			$	16
Goodwill			1
Other intangible assets			67
Total assets acquired			$	84

The following table summarizes the fair values of the assets acquired as of the acquisition date:

(in millions)
Assets acquired
Inventories			$	18
Goodwill			28
Other intangible assets			296
Total assets acquired			$	342

X

- Definition

Tabular disclosure of asset acquisition.

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-Name Accounting Standards Codification
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