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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,294 $ 1,764
Accounts receivable, net of allowances of $66 in 2025 and $71 in 2024 1,646 1,679
Inventories 2,170 2,046
Prepaid expenses and other current assets 925 753
Current assets of discontinued operations 0 2,611
Total current assets 7,035 8,853
Property, plant and equipment, net 2,717 2,870
Goodwill 5,338 5,275
Other intangible assets, net 5,081 5,223
Operating lease right-of-use assets 301 306
Other non-current assets 832 755
Non-current assets of discontinued operations 0 2,500
Total assets 21,304 25,782
Current liabilities:    
Short-term debt 11 2,126
Current maturities of long-term debt and finance lease obligations 651 626
Accounts payable 963 968
Accrued expenses and other current liabilities 1,856 1,861
Current liabilities of discontinued operations 0 930
Total current liabilities 3,481 6,511
Long-term debt and finance lease obligations, less current portion 9,412 10,374
Operating lease liabilities 235 243
Other non-current liabilities 1,122 1,076
Non-current liabilities of discontinued operations 0 554
Total liabilities 14,250 18,758
Commitments and contingencies
Equity:    
Common stock, $1 par value, authorized 2,000,000,000 shares, issued 683,494,944 shares in 2025 and 2024 683 683
Common stock in treasury, at cost, 170,414,885 shares in 2025 and 172,567,636 shares in 2024 (10,937) (11,059)
Additional contributed capital 6,309 6,421
Retained earnings 14,968 14,929
Accumulated other comprehensive loss (3,942) (4,010)
Total Baxter stockholders’ equity 7,081 6,964
Noncontrolling interests (27) 60
Total equity 7,054 7,024
Total liabilities and equity $ 21,304 $ 25,782