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SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summary of Financial Information for Our Segments

The following tables present our U.S. and International disaggregated net sales. Intersegment sales are eliminated in consolidation.

			Three months ended March 31,
			2024												2023
(in millions)			U.S.			International			Total						U.S.			International			Total
Infusion Therapies and Technologies			$	526		$	440		$	966					$	514		$	397		$	911
Advanced Surgery			147			116			263						144			102			246
Medical Products and Therapies			673			556			1,229						658			499			1,157
Care and Connectivity Solutions			278			124			402						298			131			429
Front Line Care			195			70			265						221			81			302
Healthcare Systems and Technologies			473			194			667						519			212			731
Injectables and Anesthesia			191			137			328						173			132			305
Drug Compounding			—			250			250						—			218			218
Pharmaceuticals			191			387			578						173			350			523
Chronic Therapies1			226			662			888						229			655			884
Acute Therapies1			85			129			214						64			124			188
Kidney Care			311			791			1,102						293			779			1,072
Other1			11			5			16						24			6			30
Total Baxter			$	1,659		$	1,933		$	3,592					$	1,667		$	1,846		$	3,513

1     In connection with our segment change in the third quarter of 2023, we reclassified $8 million of sales from the first quarter of 2023 from Chronic Therapies to Acute Therapies to conform to the current period presentation. Additionally, in connection with the reclassification of our BPS business to discontinued operations during the second quarter of 2023, we reclassified $2 million of contract manufacturing revenues from the first quarter of 2023 from BPS to Other (within continuing operations), as the related manufacturing facility was not part of that divestiture transaction.

Revenue from External Customers by Geographic Areas

Our net sales are attributed to the following geographic regions based on the location of the customer.

			Three months ended March 31,
			2024						2023
United States			$	1,659					$	1,667
Emerging markets1			778						757
Rest of world2			1,155						1,089
Total Baxter			$	3,592					$	3,513

1 Emerging markets includes sales from our operations in Eastern Europe, the Middle East, Africa, Latin America, and Asia (except for Japan).

2 Rest of world includes sales from our operations in Western Europe, Canada, Japan, Australia, and New Zealand.

Operating Income to Income Before Income Taxes Reconciliation

The following table presents our segment operating income and reconciliations of segment operating income to income from continuing operations before income taxes.

			Three months ended March 31,
(in millions)			2024			2023
Medical Products and Therapies			$	227		$	197
Healthcare Systems and Technologies			67			112
Pharmaceuticals			78			87
Kidney Care			159			57
Other			4			7
Total			535			460
Unallocated corporate costs			(20)			(21)
Intangible asset amortization expense			(166)			(162)
Business optimization items			(57)			(134)
Acquisition and integration items			(5)			7
Separation-related costs			(92)			(9)
European Medical Devices Regulation			(8)			(12)
Total operating income			187			129
Interest expense, net			78			117
Other income, net			(7)			(2)
Income from continuing operations before income taxes			$	116		$	14

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