← BAXTER INTERNATIONAL INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — ($3.1b) $181.0m ($326.0m) ($900.0m)
Net Income (Loss) Attributable to Parent $5.0b $717.0m $1.6b $1.0b $1.1b $1.3b ($2.4b) $2.7b ($649.0m) ($957.0m)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest — — — $1.0b $1.1b $1.3b ($2.4b) $2.7b ($638.0m) ($957.0m)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $5.0b $724.0m $1.6b $1.0b $1.1b $1.3b ($2.4b) ($76.0m) ($326.0m) ($900.0m)
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — $602.0m $1.5b $1.0b $1.1b $1.3b ($2.4b) ($69.0m) ($326.0m) ($900.0m)
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($1.0m) ($7.0m) ($6.0m) $0 $0 $262.0m $233.0m $2.7b ($312.0m) ($57.0m)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent $1.0m $7.0m $6.0m $0 $0 $262.0m $233.0m $2.7b ($323.0m) ($57.0m)
Net Income (Loss) Attributable to Noncontrolling Interest — — — $10.0m $8.0m $11.0m $12.0m $7.0m $11.0m $0
Depreciation, Depletion and Amortization $800.0m $761.0m $785.0m $789.0m $823.0m $890.0m $1.4b $1.3b $997.0m $981.0m
Depreciation $800.0m $607.0m $613.0m $606.0m $601.0m $592.0m $650.0m $611.0m $372.0m $383.0m
Amortization of Intangible Assets $163.0m $154.0m $169.0m $183.0m $222.0m $298.0m $753.0m $652.0m $625.0m $598.0m
Depreciation, Nonproduction $632.0m $607.0m $613.0m $606.0m $601.0m $592.0m $650.0m $611.0m $372.0m $383.0m
Amortization Cash Flow — — — — — — $679.0m $590.0m $625.0m $598.0m
Amortization Of Intangibles — — — — — — $679.0m $590.0m $625.0m $598.0m
Depreciation Amortization Depletion — — — — — — $1.1b $984.0m $997.0m $981.0m
Deferred Income Tax Expense (Benefit) ($301.0m) $194.0m ($267.0m) ($310.0m) ($88.0m) ($146.0m) ($225.0m) ($499.0m) ($262.0m) $77.0m
Deferred Income Tax — — — — — — ($260.0m) ($256.0m) ($262.0m) $77.0m
Deferred Tax — — — — — — ($260.0m) ($256.0m) ($262.0m) $77.0m
Share-based Payment Arrangement, Noncash Expense $115.0m $107.0m $115.0m $122.0m $130.0m $146.0m $154.0m $133.0m $114.0m $117.0m
Equity Method Investment, Other than Temporary Impairment — — — — — — — — — $9.0m
Goodwill, Impairment Loss — $0 — $0 $0 $0 $2.8b $0 $425.0m $485.0m
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — $344.0m $77.0m $50.0m —
Impairment of Intangible Assets, Finite-lived — — — $31.0m $17.0m $0 — — — —
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — — — — — — — — — $290.0m
Asset Impairment Charge — — — — — — $3.2b ($11.0m) $519.0m $802.0m
Gain (Loss) on Disposition of Assets $3.0m $3.0m $6.0m $1.0m — — — — — —
Gain (Loss) on Disposition of Business — — — — — — ($21.0m) $0 $0 —
Gain (Loss) on Disposition of Other Assets — — — — — — ($54.0m) $0 $0 —
Gain (Loss) on Extinguishment of Debt ($153.0m) — $0 $0 ($110.0m) ($5.0m) $0 $0 $0 $16.0m
Income Tax Expense (Benefit) ($12.0m) $493.0m $63.0m ($41.0m) $182.0m $182.0m $68.0m ($34.0m) $37.0m $395.0m
Operating Lease, Lease Income — — — $61.0m $84.0m $136.0m $514.0m $518.0m $380.0m $350.0m
Other Nonoperating Income (Expense) $4.3b $14.0m $139.0m ($731.0m) ($190.0m) ($41.0m) ($15.0m) ($51.0m) $38.0m $41.0m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable — — — — — — — $66.0m $35.0m $132.0m
Increase (Decrease) in Inventories ($80.0m) ($76.0m) $197.0m ($4.0m) $162.0m $37.0m $361.0m $114.0m $201.0m $119.0m
Increase (Decrease) in Accounts Payable — — — — — $104.0m ($76.0m) $107.0m $112.0m $3.0m
Deconsolidation, Gain (Loss), Amount — ($33.0m) — $0 — — — — — —
Equity Securities, FV-NI, Gain (Loss) — — — — — ($7.0m) $8.0m $7.0m $3.0m $1.0m
Foreign Currency Transaction Gain (Loss), before Tax $34.0m — — — — — — — — —
Foreign Currency Transaction Gain (Loss), Realized — — — — — — ($65.0m) $0 $0 —
Foreign Currency Transaction Gain (Loss), Unrealized $28.0m $50.0m $73.0m ($37.0m) ($49.0m) ($19.0m) $3.0m ($52.0m) ($25.0m) ($18.0m)
Gain (Loss) on Sale of Properties — — — — $17.0m — — — — —
Gain (Loss) Related to Litigation Settlement — — — $37.0m — — — — — —
Goodwill $2.6b $3.1b $3.0b $3.0b $3.2b $9.8b $6.8b $6.5b $5.3b $4.9b
Inventory Write-down — — — — — — — $14.0m $9.0m —
Investment Income, Interest $23.0m $30.0m $48.0m $40.0m $19.0m $14.0m $20.0m $70.0m $67.0m $52.0m
Revenue from Contract with Customer, Including Assessed Tax — — — $11.4b $11.7b — — — — —
Beginning Cash Position — — — — — — $3.0b $1.7b $3.2b $2.4b
Cash Flow From Continuing Financing Activities — — — — — — ($1.4b) ($3.5b) ($1.1b) ($4.2b)
Cash Flow From Continuing Investing Activities — — — — — — ($624.0m) ($410.0m) ($410.0m) ($464.0m)
Cash From Discontinued Investing Activities — — — — — — ($307.0m) $3.6b ($216.0m) $3.3b
Change In Account Payable — — — — — — ($67.0m) $92.0m $112.0m $3.0m
Change In Accrued Expense — — — — — — ($158.0m) $293.0m $44.0m $149.0m
Change In Inventory — — — — — — ($198.0m) ($128.0m) ($201.0m) ($119.0m)
Change In Other Working Capital — — — — — — ($91.0m) ($13.0m) ($31.0m) ($81.0m)
Change In Payable — — — — — — ($67.0m) $92.0m $112.0m $3.0m
Change In Payables And Accrued Expense — — — — — — ($225.0m) $385.0m $156.0m $152.0m
Change In Prepaid Assets — — — — — — ($44.0m) ($45.0m) ($125.0m) $72.0m
Change In Receivables — — — — — — ($48.0m) ($38.0m) ($35.0m) ($132.0m)
Change In Working Capital — — — — — — ($606.0m) $161.0m ($236.0m) ($108.0m)
Changes In Account Receivables — — — — — — ($48.0m) ($38.0m) ($35.0m) ($132.0m)
Changes In Cash — — — — — — ($1.2b) $1.4b ($688.0m) ($530.0m)
End Cash Position — — — — — — $1.7b $3.2b $2.4b $2.0b
Financing Cash Flow — — — — — — ($1.4b) ($3.5b) ($1.1b) ($4.2b)
Free Cash Flow — — — — — — $576.0m $1.3b $559.0m $323.0m
Gain Loss On Sale Of Business — — — — — $0 $75.0m $0 $0 —
Investing Cash Flow — — — — — — ($931.0m) $3.2b ($626.0m) $2.8b
Net Business Purchase And Sale — — — — — ($10.5b) ($263.0m) ($6.0m) — —
Net Foreign Currency Exchange Gain Loss — — — — — $0 $65.0m $0 $0 —
Net Intangibles Purchase And Sale — — — — — — ($258.0m) ($4.0m) ($14.0m) ($9.0m)
Operating Gains Losses — — — — — — $170.0m ($29.0m) ($28.0m) ($48.0m)
Other Non Cash Items — — — — — — ($40.0m) $62.0m $41.0m $30.0m
Pension And Employee Benefit Expense — — — — — — $30.0m ($29.0m) ($28.0m) ($32.0m)
Proceeds From Stock Option Exercised — — — — — — $127.0m $95.0m $71.0m $30.0m
Purchase Of Business — — — — — ($10.5b) ($263.0m) ($6.0m) — —
Purchase Of Intangibles — — — — — — ($258.0m) ($4.0m) ($14.0m) ($9.0m)
Repurchase Of Capital Stock — — — — — ($600.0m) ($32.0m) $0 $0 —
Stock Based Compensation — — — — — — $140.0m $115.0m $114.0m $117.0m
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — ($755.0m) ($46.0m) ($2.0m) ($1.0m) ($2.0m) $0 $0
Derivative, Gain (Loss) on Derivative, Net — — — — — — — $40.0m ($37.0m) $30.0m
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax ($5.0m) $5.0m $10.0m $0 $0 — — — — —
Other Operating Income (Expense), Net — — — $141.0m $19.0m $6.0m ($36.0m) $28.0m $12.0m $206.0m
Net Cash Provided by (Used in) Operating Activities $1.7b $1.8b $2.1b $2.1b $1.9b $2.2b $1.2b $1.7b $1.0b $845.0m
Cash flows from investing activities:
Capital Expenditure — — — — — — ($635.0m) ($436.0m) ($460.0m) ($522.0m)
Capital Expenditure Reported $719.0m $634.0m $681.0m $696.0m $709.0m $743.0m ($377.0m) ($432.0m) ($446.0m) ($513.0m)
Payments to Acquire Businesses, Net of Cash Acquired $48.0m $686.0m $268.0m $418.0m $494.0m $10.5b $263.0m $6.0m $14.0m $9.0m
Net Investment Purchase And Sale — — — — — — $0 $0 $34.0m $0
Sale Of Investment — — — — — — $0 $0 $34.0m $0
Payments for (Proceeds from) Other Investing Activities — — — — — — — ($26.0m) ($16.0m) ($58.0m)
Net Other Investing Changes — — — — — — $11.0m $26.0m $16.0m $58.0m
Net Cash Provided by (Used in) Investing Activities ($715.0m) ($1.3b) ($938.0m) ($1.1b) ($1.2b) ($11.2b) ($931.0m) $3.2b ($626.0m) $2.8b
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $1.6b $633.0m — $1.7b $1.9b $11.9b $0 $0 — $2.0b
Issuance Of Debt — — — — — — $55.0m $0 $2.1b $2.0b
Long Term Debt Issuance — — — — — — $0 $0 $0 $2.0b
Net Issuance Payments Of Debt — — — — — — ($899.0m) ($2.9b) ($531.0m) ($3.8b)
Net Long Term Debt Issuance — — — — — — ($954.0m) ($2.6b) ($2.7b) ($3.5b)
Net Short Term Debt Issuance — — — — — — $55.0m ($301.0m) $2.1b ($300.0m)
Short Term Debt Issuance — — — — — — $55.0m $0 $2.1b $0
Repayments of Long-term Debt $1.4b $1.0m — — $1.2b $2.8b $954.0m — — —
Long Term Debt Payments — — — — — — ($954.0m) ($2.6b) ($2.7b) ($5.5b)
Repayment Of Debt — — — — — — ($954.0m) ($2.9b) ($2.7b) ($5.8b)
Short Term Debt Payments — — — — — — — ($301.0m) — ($300.0m)
Net Common Stock Issuance — — — — — ($600.0m) ($32.0m) $0 $0 —
Payments for Repurchase of Common Stock $292.0m $564.0m $2.5b $1.3b $500.0m $600.0m $32.0m $0 $0 —
Payments of Ordinary Dividends, Common Stock $268.0m $315.0m $376.0m $423.0m $473.0m $530.0m $573.0m $586.0m $590.0m $348.0m
Common Stock Payments — — — — — ($600.0m) ($32.0m) $0 $0 —
Dividends Payable, Current $70.0m $87.0m $101.0m $111.0m $125.0m $140.0m $146.0m $147.0m $87.0m $5.0m
Cash Dividends Paid — — — — — — ($573.0m) ($586.0m) ($590.0m) ($348.0m)
Common Stock Dividend Paid — — — — — — ($573.0m) ($586.0m) ($590.0m) ($348.0m)
Proceeds from (Payments for) Other Financing Activities ($33.0m) ($39.0m) ($28.0m) ($48.0m) ($52.0m) ($40.0m) ($61.0m) ($65.0m) ($31.0m) ($57.0m)
Net Other Financing Charges — — — — — — ($61.0m) ($63.0m) ($31.0m) ($107.0m)
Net Cash Provided by (Used in) Financing Activities ($324.0m) $61.0m ($2.6b) $498.0m ($345.0m) $8.2b ($1.4b) ($3.5b) ($1.1b) ($4.2b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — ($63.0m) ($5.0m) $57.0m ($47.0m) ($76.0m) $26.0m ($96.0m) $84.0m
Effect Of Exchange Rate Changes — — — — — — ($76.0m) $26.0m ($96.0m) $84.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — ($63.0m) $1.5b $401.0m ($780.0m) ($1.2b) $1.5b ($784.0m) ($446.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — ($63.0m) $3.3b $3.7b $3.0b $1.7b $3.2b $1.8b $2.0b
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($1.2b) $1.5b ($784.0m) ($446.0m)
Interest Paid, Excluding Capitalized Interest, Operating Activities — — $94.0m $103.0m $137.0m $145.0m $355.0m $484.0m $401.0m $303.0m
Income Taxes Paid, Net $500.0m $255.0m — — — — $168.0m $174.0m $223.0m $222.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.