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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA (UNAUDITED) |
QUARTERLY FINANCIAL DATA (UNAUDITED)
The following table represents data from our unaudited consolidated statements of income (loss) for the most recent eight quarters. This quarterly information has been prepared on the same basis as the consolidated financial statements and includes all normal recurring adjustments necessary to fairly state the information for the periods presented. The results of operations of any quarter are not necessarily indicative of the results that may be expected for any future period.
| 2024
(in millions, except per share data) | First Quarter | Second Quarter 2 | Third Quarter | Fourth Quarter 3 | Full Year 1
Net sales | $ | 2,490 |  | $ | 2,694 |  | $ | 2,699 |  | $ | 2,753 |  | $ | 10,636 |
Gross margin | 961 |  | 1,031 |  | 1,033 |  | 959 |  | 3,984 |
Income (loss) from continuing operations | 6 |  | 95 |  | 61 |  | (488) |  | (326) |
Income (loss) from discontinued operations | 33 |  | (406) |  | 83 |  | (22) |  | (312) |
Net income (loss) | 39 |  | (311) |  | 144 |  | (510) |  | (638) |
Net income (loss) attributable to Baxter stockholders | 37 |  | (314) |  | 140 |  | (512) |  | (649) |
Income (loss) from continuing operations per common share |  |  |  |  |
Basic | $ | 0.01 |  | $ | 0.19 |  | $ | 0.12 |  | $ | (0.95) |  | $ | (0.64) |
Diluted | $ | 0.01 |  | $ | 0.19 |  | $ | 0.12 |  | $ | (0.95) |  | $ | (0.64) |
Income (loss) from discontinued operations per common share |  |  |  |  |
Basic | $ | 0.06 |  | $ | (0.81) |  | $ | 0.15 |  | $ | (0.05) |  | $ | (0.63) |
Diluted | $ | 0.06 |  | $ | (0.81) |  | $ | 0.15 |  | $ | (0.05) |  | $ | (0.63) |
Net Income (loss) per common share |  |  |  |  |
Basic | $ | 0.07 |  | $ | (0.62) |  | $ | 0.27 |  | $ | (1.00) |  | $ | (1.27) |
Diluted | $ | 0.07 |  | $ | (0.62) |  | $ | 0.27 |  | $ | (1.00) |  | $ | (1.27) |
| 2023
(in millions, except per share data) | First Quarter | Second Quarter 4 | Third Quarter 5 | Fourth Quarter | Full Year 1
Net sales | $ | 2,441 |  | $ | 2,591 |  | $ | 2,599 |  | $ | 2,729 |  | $ | 10,360 |
Gross margin | 964 |  | 1,030 |  | 1,056 |  | 1,100 |  | 4,150 |
Income (loss) from continuing operations | (48) |  | (27) |  | 37 |  | 219 |  | 181 |
Income from discontinued operations | 93 |  | (112) |  | 2,474 |  | 27 |  | 2,482 |
Net income (loss) | 45 |  | (139) |  | 2,511 |  | 246 |  | 2,663 |
Net income (loss) attributable to Baxter stockholders | 44 |  | (141) |  | 2,508 |  | 245 |  | 2,656 |
Income (loss) from continuing operations per common share |  |  |  |  |
Basic | $ | (0.10) |  | $ | (0.05) |  | $ | 0.07 |  | $ | 0.43 |  | $ | 0.36 |
Diluted | $ | (0.10) |  | $ | (0.05) |  | $ | 0.07 |  | $ | 0.43 |  | $ | 0.36 |
Income from discontinued operations per common share |  |  |  |  |
Basic | $ | 0.19 |  | $ | (0.23) |  | $ | 4.88 |  | $ | 0.05 |  | $ | 4.89 |
Diluted | $ | 0.19 |  | $ | (0.23) |  | $ | 4.86 |  | $ | 0.05 |  | $ | 4.87 |
Net Income (loss) per common share |  |  |  |  |
Basic | $ | 0.09 |  | $ | (0.28) |  | $ | 4.95 |  | $ | 0.48 |  | $ | 5.25 |
Diluted | $ | 0.09 |  | $ | (0.28) |  | $ | 4.93 |  | $ | 0.48 |  | $ | 5.23 |
1 The sum of per share amounts for quarterly periods may not equal full year amounts due to rounding. 2 Our results from discontinued operations for the quarter ended June 30, 2024 included a $430 million charge related to a goodwill impairment of our Chronic Therapies reporting unit within our Kidney Care segment. 3 Our results from continuing operations for the fourth quarter ended December 31, 2024 included a $425 million charge related to a goodwill impairment of our Front Line Care reporting unit within our Healthcare Systems & Technologies segment. 4 Our results from discontinued operations for the quarter ended June 30, 2023 included $243 million of long-lived asset impairment charges resulting from our decision to cease production at one of our dialyzer manufacturing facilities. 5 Our results from discontinued operations for the quarter ended September 30, 2023 included a gain of $2.88 billion from the sale of our BPS business, partially offset by $267 million of long-lived asset impairment charges related to our the hemodialysis business of our former Kidney Care segment.

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