Baxter International (BAX) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-4448
Entity Registrant Name	BAXTER INTERNATIONAL INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-0781620
Entity Address, Address Line One	One Baxter Parkway,
Entity Address, City or Town	Deerfield,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
City Area Code	224.
Local Phone Number	948.2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		507,323,509
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000010456
Current Fiscal Year End Date	--12-31
Common Stock, $1.00 par value | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	BAX (NYSE)
Security Exchange Name	NYSE
Common Stock, $1.00 par value | Chicago Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	BAX (NYSE)
Security Exchange Name	CHX
0.4% Global Notes due 2024 | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	0.4% Global Notes due 2024
Trading Symbol	BAX 24
Security Exchange Name	NYSE
1.3% Global Notes due 2025 | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	1.3% Global Notes due 2025
Trading Symbol	BAX 25
Security Exchange Name	NYSE
1.3% Global Notes due 2029 | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	1.3% Global Notes due 2029
Trading Symbol	BAX 29
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 5,788	$ 1,718
Accounts receivable, net of allowances of $132 in 2023 and $114 in 2022	2,512	2,571
Inventories	2,873	2,679
Prepaid expenses and other current assets	861	857
Current assets of discontinued operations	0	186
Total current assets	12,034	8,011
Property, plant and equipment, net	4,278	4,695
Goodwill	6,407	6,452
Other intangible assets, net	6,230	6,793
Operating lease right-of-use assets	519	541
Other non-current assets	1,188	1,109
Non-current assets of discontinued operations	0	686
Total assets	30,656	28,287
Current liabilities:
Short-term debt	514	299
Current maturities of long-term debt and finance lease obligations	1,912	1,105
Accounts payable	1,246	1,110
Accrued expenses and other current liabilities	2,537	2,170
Current liabilities of discontinued operations	0	61
Total current liabilities	6,209	4,745
Long-term debt and finance lease obligations, less current portion	14,067	15,232
Operating lease liabilities	436	447
Other non-current liabilities	1,778	1,848
Non-current liabilities of discontinued operations	0	120
Total liabilities	22,490	22,392
Commitments and contingencies
Equity:
Common stock, $1 par value, authorized 2,000,000,000 shares, issued 683,494,944 shares in 2023 and 2022	683	683
Common stock in treasury, at cost, 176,198,622 shares in 2023 and 179,062,594 shares in 2022	(11,249)	(11,389)
Additional contributed capital	6,368	6,322
Retained earnings	16,015	14,050
Accumulated other comprehensive income (loss)	(3,716)	(3,833)
Total Baxter stockholders’ equity	8,101	5,833
Noncontrolling interests	65	62
Total equity	8,166	5,895
Total liabilities and equity	$ 30,656	$ 28,287

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for accounts receivable, current	$ 132	$ 114
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, issued (in shares)	683,494,944	683,494,944
Treasury stock, shares (in shares)	176,198,622	179,062,594

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 3,708	$ 3,609	$ 10,928	$ 10,761
Cost of sales	2,591	2,564	7,425	7,083
Gross margin	1,117	1,045	3,503	3,678
Selling, general and administrative expenses	1,002	941	2,961	2,958
Research and development expenses	166	151	495	448
Goodwill impairments	0	2,785	0	2,785
Other operating expense (income), net	0	48	(14)	20
Operating income (loss)	(51)	(2,880)	61	(2,533)
Interest expense, net	128	104	369	278
Other (income) expense, net	(7)	61	33	1
Loss from continuing operations before income taxes	(172)	(3,045)	(341)	(2,812)
Income tax benefit	(223)	(54)	(199)	(14)
Income (loss) from continuing operations	51	(2,991)	(142)	(2,798)
Income from discontinued operations, net of tax	2,460	57	2,559	192
Net income (loss)	2,511	(2,934)	2,417	(2,606)
Net income attributable to noncontrolling interests	3	3	6	8
Net income (loss) attributable to Baxter stockholders	$ 2,508	$ (2,937)	$ 2,411	$ (2,614)
Income (loss) from continuing operations per common share
Income from continuing operations per common share, basic (in dollars per share)	$ 0.09	$ (5.94)	$ (0.29)	$ (5.58)
Income from continuing operations per common share, diluted (in dollars per share)	0.09	(5.94)	(0.29)	(5.58)
Income from discontinued operations per common share
Income from discontinued operations per common share, basic (in dollars per share)	4.85	0.11	5.06	0.38
Income from discontinued operations per common share, diluted (in dollars per share)	4.83	0.11	5.06	0.38
Net income (loss) per common share
Basic (in dollars per share)	4.95	(5.83)	4.76	(5.20)
Diluted (in dollars per share)	$ 4.93	$ (5.83)	$ 4.76	$ (5.20)
Weighted-average number of shares outstanding
Basic (in shares)	507	504	506	503
Diluted (in shares)	509	504	506	503

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Income (loss) from continuing operations	$ 51	$ (2,991)	$ (142)	$ (2,798)
Other comprehensive income (loss) from continuing operations, net of tax:
Currency translation adjustments, net of tax expense (benefit) of $10 and $(16) for the three months ended September 30, 2023 and 2022, respectively, and $1 and ($25) for the nine months ended September 30, 2023 and 2022, respectively.	(67)	(274)	(62)	(650)
Pension and other postretirement benefits, net of tax expense (benefit) of zero and $5 for the three months ended September 30, 2023 and 2022, respectively, and ($3) and $13 the nine months ended September 30, 2023 and 2022, respectively.	(1)	15	(12)	47
Hedging activities, net of tax expense (benefit) of $2 and $5 for the three months ended September 30, 2023 and 2022, respectively, and $3 and $8 for the nine months ended September 30, 2023 and 2022, respectively.	5	16	10	27
Available-for-sale debt securities, net of tax expense of zero for the three months ended September 30, 2023 and 2022 and zero and $1 for the nine months ended September 30, 2023 and 2022, respectively.	0	0	0	2
Total other comprehensive loss from continuing operations, net of tax	(63)	(243)	(64)	(574)
Comprehensive loss from continuing operations	(12)	(3,234)	(206)	(3,372)
Income from discontinued operations, net of tax	2,460	57	2,559	192
Currency translation adjustments, net of tax expense (benefit) of zero for the three and nine months ended September 30, 2023 and 2022	165	(45)	185	(101)
Pension and other postretirement benefits, net of tax expense (benefit) of zero for the three and nine months ended September 30, 2023 and 2022	(4)	1	(4)	1
Total other comprehensive income (loss) from discontinued operations	161	(44)	181	(100)
Comprehensive income from discontinued operations	2,621	13	2,740	92
Comprehensive income (loss)	2,609	(3,221)	2,534	(3,280)
Less: Comprehensive income attributable to noncontrolling interests	3	3	6	8
Comprehensive income (loss) attributable to Baxter stockholders	$ 2,606	$ (3,224)	$ 2,528	$ (3,288)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss (unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Currency translation adjustments, tax	$ 10,000,000	$ (16,000,000)	$ 1,000,000	$ (25,000,000)
Pension and other postretirement benefits, tax	0	5,000,000	(3,000,000)	13,000,000
Hedging activities, tax	2,000,000	5,000,000	3,000,000	8,000,000
Debt securities, tax	0	0	0	1,000,000
Discontinued operations, currency translation adjustments, tax	0	0	0	0
Discontinued operations, pension and other postretirement benefits, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (unaudited) - USD ($) $ in Millions	Total	Total Baxter stockholders' equity	Common stock	Common stock in treasury	Additional contributed capital	Retained earnings	Accumulated other comprehensive income (loss)	Noncontrolling interests
Balance, beginning of period (in shares) at Dec. 31, 2021			683,000,000
Balance, beginning of period (in usd) at Dec. 31, 2021	$ 9,121	$ 9,077	$ 683	$ (11,488)	$ 6,197	$ 17,065	$ (3,380)	$ 44
Balance, Treasury, beginning period (in shares) at Dec. 31, 2021				182,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,606)	(2,614)				(2,614)		8
Other comprehensive income (loss)	(674)	(674)					(674)
Purchases of treasury stock	(32)	(32)		$ (32)
Stock issued under employee benefit plans and other (in shares)				(3,000,000)
Stock issued under employee benefit plans and other	214	214		$ 114	100
Dividends declared on common stock	(436)	(436)				(436)
Change in noncontrolling interests	(8)							(8)
Balance, end of period (in shares) at Sep. 30, 2022			683,000,000
Balance, end of period (in usd) at Sep. 30, 2022	5,579	5,535	$ 683	$ (11,406)	6,297	14,015	(4,054)	44
Balance, Treasury, ending period (in shares) at Sep. 30, 2022				179,000,000
Balance, beginning of period (in shares) at Jun. 30, 2022			683,000,000
Balance, beginning of period (in usd) at Jun. 30, 2022	8,903	8,859	$ 683	$ (11,409)	6,253	17,099	(3,767)	44
Balance, Treasury, beginning period (in shares) at Jun. 30, 2022				180,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,934)	(2,937)				(2,937)		3
Other comprehensive income (loss)	(287)	(287)					(287)
Purchases of treasury stock	(24)	(24)		$ (24)
Stock issued under employee benefit plans and other (in shares)				(1,000,000)
Stock issued under employee benefit plans and other	71	71		$ 27	44
Dividends declared on common stock	(147)	(147)				(147)
Change in noncontrolling interests	(3)							(3)
Balance, end of period (in shares) at Sep. 30, 2022			683,000,000
Balance, end of period (in usd) at Sep. 30, 2022	5,579	5,535	$ 683	$ (11,406)	6,297	14,015	(4,054)	44
Balance, Treasury, ending period (in shares) at Sep. 30, 2022				179,000,000
Balance, beginning of period (in shares) at Dec. 31, 2022			683,000,000
Balance, beginning of period (in usd) at Dec. 31, 2022	$ 5,895	5,833	$ 683	$ (11,389)	6,322	14,050	(3,833)	62
Balance, Treasury, beginning period (in shares) at Dec. 31, 2022	179,062,594			179,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 2,417	2,411				2,411		6
Other comprehensive income (loss)	117	117					117
Stock issued under employee benefit plans and other (in shares)				(3,000,000)
Stock issued under employee benefit plans and other	186	186		$ 140	46
Dividends declared on common stock	(446)	(446)				(446)
Change in noncontrolling interests	(3)							(3)
Balance, end of period (in shares) at Sep. 30, 2023			683,000,000
Balance, end of period (in usd) at Sep. 30, 2023	$ 8,166	8,101	$ 683	$ (11,249)	6,368	16,015	(3,716)	65
Balance, Treasury, ending period (in shares) at Sep. 30, 2023	176,198,622			176,000,000
Balance, beginning of period (in shares) at Jun. 30, 2023			683,000,000
Balance, beginning of period (in usd) at Jun. 30, 2023	$ 5,631	5,569	$ 683	$ (11,296)	6,341	13,655	(3,814)	62
Balance, Treasury, beginning period (in shares) at Jun. 30, 2023				177,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,511	2,508				2,508		3
Other comprehensive income (loss)	98	98					98
Stock issued under employee benefit plans and other (in shares)				(1,000,000)
Stock issued under employee benefit plans and other	74	74		$ 47	27
Dividends declared on common stock	(148)	(148)				(148)
Balance, end of period (in shares) at Sep. 30, 2023			683,000,000
Balance, end of period (in usd) at Sep. 30, 2023	$ 8,166	$ 8,101	$ 683	$ (11,249)	$ 6,368	$ 16,015	$ (3,716)	$ 65
Balance, Treasury, ending period (in shares) at Sep. 30, 2023	176,198,622			176,000,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Cash flows from operations
Net income (loss)		$ 2,417	$ (2,606)
Less: Income from discontinued operations, net of tax		2,559	192
Income (loss) from continuing operations		(142)	(2,798)
Adjustments to reconcile net income to cash flows from operations:
Depreciation and amortization		939	1,054
Deferred income taxes		(597)	(189)
Stock compensation		103	122
Net periodic pension and other postretirement costs		(12)	42
Goodwill impairments		0	2,785
Intangible asset impairments		77	332
Other long-lived asset impairments		461	0
Loss on product divestiture arrangement		0	54
Reclassification of cumulative translation loss to earnings		0	65
Other		45	(34)
Changes in balance sheet items:
Accounts receivable, net		55	(74)
Inventories		(216)	(405)
Prepaid expenses and other current assets		(44)	(106)
Accounts payable		136	81
Accrued expenses and other current liabilities		372	(238)
Other		(80)	(97)
Cash flows from operations – continuing operations		1,097	594
Cash flows from operations – discontinued operations		98	178
Cash flows from operations		1,195	772
Cash flows from investing activities
Capital expenditures		(502)	(438)
Acquisitions, net of cash acquired, and investments		(6)	(206)
Other investing activities, net		19	10
Cash flows from investing activities - continuing operations		(489)	(634)
Cash flows from investing activities - discontinued operations		3,932	(41)
Cash flows from investing activities		3,443	(675)
Cash flows from financing activities
Repayments of debt		(353)	(953)
Net increases in debt with original maturities of three months or less		214	30
Cash dividends on common stock		(439)	(427)
Proceeds from stock issued under employee benefit plans		86	114
Purchases of treasury stock		0	32
Other financing activities, net		(62)	(51)
Cash flows from financing activities		(554)	(1,319)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash		(14)	(130)
Increase (decrease) in cash, cash equivalents and restricted cash		4,070	(1,352)
Cash, cash equivalents and restricted cash at beginning of period	[1]	1,722	2,956
Cash, cash equivalents and restricted cash at end of period	[1]	$ 5,792	$ 1,604
[1]The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to the amounts reported within the condensed consolidated balance sheet as of September 30, 2023, December 31, 2022, and September 30, 2022 (in millions): September 30, 2023 December 31, 2022 September 30, 2022 Cash and cash equivalents $ 5,788 $ 1,718 $ 1,601 Restricted cash included in prepaid expenses and other current assets 4 4 3 Cash, cash equivalents and restricted cash $ 5,792 $ 1,722 $ 1,604

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Cash and cash equivalents		$ 5,788	$ 1,718	$ 1,601
Restricted cash included in prepaid expenses and other current assets		4	4	3
Cash, cash equivalents and restricted cash	[1]	$ 5,792	$ 1,722	$ 1,604
[1]The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to the amounts reported within the condensed consolidated balance sheet as of September 30, 2023, December 31, 2022, and September 30, 2022 (in millions): September 30, 2023 December 31, 2022 September 30, 2022 Cash and cash equivalents $ 5,788 $ 1,718 $ 1,601 Restricted cash included in prepaid expenses and other current assets 4 4 3 Cash, cash equivalents and restricted cash $ 5,792 $ 1,722 $ 1,604

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The unaudited interim condensed consolidated financial statements of Baxter International Inc. and its subsidiaries (we, our or Baxter) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) in the United States have been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (2022 Annual Report). In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. All such adjustments, unless otherwise noted herein, are of a normal, recurring nature. The results of operations for the current interim period are not necessarily indicative of the results of operations to be expected for the full year. In January 2023, we announced our intention to separate our Kidney Care business into a new, publicly traded company. While the completion of the proposed spinoff is subject to satisfaction of customary conditions, we are targeting completion of the planned separation by July 2024 or earlier. On September 29, 2023, we completed the sale of our BioPharma Solutions (BPS) business and received net pre-tax cash proceeds of $3.96 billion from that transaction. The financial position, results of operations and cash flows of our BPS business, including our gain from the sale of that business and the related cash proceeds received, are reported as discontinued operations in the accompanying condensed consolidated financial statements. See Note 2 for additional information. Risks and Uncertainties Supply Constraints and Global Economic Conditions We have experienced significant challenges to our global supply chain in recent periods, including production delays and interruptions, increased costs and shortages of raw materials and component parts (including resins and electromechanical devices) and higher transportation costs, resulting from the pandemic and other exogenous factors including significant weather events, elevated inflation levels, increased interest rates, disruptions to certain ports of call around the world, the wars in Ukraine, Israel and Gaza and other geopolitical events. We expect to experience some of these and other challenges related to our supply chain in future periods. These challenges, including the unavailability of certain raw materials and component parts, have also had a negative impact on our sales for certain product categories due to our inability to fully satisfy demand. While we have seen improvements in the availability of certain component parts and improved pricing in certain raw materials, these challenges have not completely subsided and may continue to have a negative impact on our sales in the future. We expect that the challenges caused by global economic conditions, among other factors, may continue to have an adverse effect on our business.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS On September 29, 2023, we sold our BPS business to Advent International and Warburg Pincus (collectively, the "buyers"). Under the terms of the related Equity Purchase agreement entered into with the buyers in May 2023, we were entitled to aggregate consideration of $4.25 billion, subject to adjustment for specified items. After giving effect to those adjustments, we received cash proceeds of $3.96 billion. We recognized a pre-tax gain on the sale of $2.89 billion ($2.60 billion net of tax), which represents the excess of (a) the $3.91 billion in net consideration received, consisting of (i) $3.96 billion in cash proceeds from the buyers, less (ii) $47 million in transaction costs, over (b) the sum of (i) the $840 million net book value of the BPS business upon the closing of the transaction and (ii) BPS's $181 million other comprehensive loss, which was reclassified to earnings. The BPS business, which was historically reported within our Americas segment, provides contract manufacturing and development services, which include sterile fill-finish manufacturing and support services across clinical and commercial applications, primarily serving customers in the pharmaceutical industry. BPS was historically operated through our former, wholly-owned subsidiaries Baxter Pharmaceutical Solutions LLC, a Delaware limited liability company, and Baxter Oncology GmbH, a German limited liability company (collectively, the "divested entities"). We intend to use the net after-tax proceeds from this transaction to repay certain of our debt obligations. We concluded that our BPS business met the criteria to be classified as held-for-sale in May 2023. A component of an entity is reported in discontinued operations after meeting the criteria for held-for-sale classification if the disposition represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results. We analyzed the quantitative and qualitative factors relevant to the divestiture of our BPS business, including its significance to our overall net income (loss) and earnings (loss) per share, and determined that those conditions for discontinued operations presentation had been met. As such, the financial position, results of operations and cash flows of that business, including our gain from the sale of that business and the related cash proceeds received, are reported as discontinued operations in the accompanying condensed consolidated financial statements. Prior period amounts have been adjusted to reflect discontinued operations presentation. At closing of the transaction, Baxter Pharmaceutical Solutions LLC included a BPS manufacturing facility in Bloomington Indiana and Baxter Oncology GmbH included a manufacturing facility in Halle Germany. Previously, Baxter Oncology GmbH included an additional manufacturing site in Bielefeld Germany that was not part of the BPS business and was transferred to another Baxter entity prior to closing of the divestiture. Accordingly, amounts related to the Bielefeld site continue to be presented as continuing operations in the accompanying condensed consolidated financial statements. At closing of the transaction, Baxter entered into a Transition Services Agreement (TSA) and a Master Commercial Manufacturing and Supply Agreement (MSA) with the divested entities. Pursuant to the TSA, Baxter and the divested entities will provide to each other, on an interim basis, specific transition services for up to 24 months post-closing to help ensure business continuity and minimize disruptions. Services to be provided under the TSA include finance, information technology, human resources, integrated supply chain and certain other administrative services. Pursuant to the MSA, the divested entities will provide development, manufacturing, regulatory and other related services for certain Baxter pharmaceutical products for up to 5 years post-closing (with certain extension rights as provided therein). Results of Discontinued Operations and Assets and Liabilities of Discontinued Operations The following table summarizes the major classes of line items included in income from discontinued operations, net of tax, for the three and nine months ended September 30, 2023 and 2022: Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Net sales $ 191 $ 164 $ 469 $ 465 Cost of sales 81 76 216 209 Gross margin 110 88 253 256 Selling, general and administrative expenses 15 6 44 17 Research and development expenses 1 1 2 2 Other (income) expense, net 2 2 2 2 Income from discontinued operations before gain on disposition and income taxes 92 79 205 235 Gain on disposition 2,890 — 2,890 — Income tax expense 522 22 536 43 Income from discontinued operations, net of tax $ 2,460 $ 57 $ 2,559 $ 192 For the three and nine months ended September 30, 2023, selling, general and administrative expenses include $4 million and $19 million, respectively, of separation-related costs incurred in connection with the sale of BPS. The following table summarizes the carrying amounts of the major classes of assets and liabilities classified as discontinued operations in the condensed consolidated balance sheets as of December 31, 2022: (in millions) December 31, Accounts receivable, net of allowances $ 88 Inventories 39 Prepaid expenses and other current assets 59 Property, plant and equipment, net 284 Goodwill 391 Operating lease right-of-use assets 9 Other non-current assets 2 Assets of discontinued operations $ 872 Accounts payable $ 29 Accrued expenses and other current liabilities 32 Operating lease liabilities 9 Other non-current liabilities 111 Liabilities of discontinued operations $ 181

SUPPLEMENTAL FINANCIAL INFORMAT

SUPPLEMENTAL FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL FINANCIAL INFORMATION	SUPPLEMENTAL FINANCIAL INFORMATION Allowance for Doubtful Accounts The following table is a summary of the changes in our allowance for doubtful accounts for the three and nine months ended September 30, 2023 and 2022. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Balance at beginning of period $ 128 $ 125 $ 114 $ 122 Charged to costs and expenses 4 2 20 11 Write-offs (1) (2) (7) (4) Currency translation adjustments 1 (5) 5 (9) Balance at end of period $ 132 $ 120 $ 132 $ 120 Inventories (in millions) September 30, December 31, Raw materials $ 713 $ 698 Work in process 301 294 Finished goods 1,859 1,687 Inventories $ 2,873 $ 2,679 Property, Plant and Equipment, Net (in millions) September 30, December 31, Property, plant and equipment, at cost $ 10,863 $ 10,780 Accumulated depreciation (6,585) (6,085) Property, plant and equipment, net $ 4,278 $ 4,695 Impairments of Property, Plant and Equipment and Certain Other Long-Lived Assets We review the carrying amounts of long-lived assets used in operations for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In evaluating recoverability of long-lived assets other than goodwill and intangible assets not subject to amortization, we group assets and liabilities at the lowest level such that the identified cash flows relating to the group are largely independent of the cash flows of other assets and liabilities. If the carrying amount of an asset group is greater than the related estimated undiscounted future cash flows, the carrying value is not considered recoverable. In that case, an impairment charge is recorded if, and to the extent that, the amount by which the asset group's carrying amount exceeds its fair value. However, the portion of an impairment loss allocated to an individual long-lived asset within an asset group cannot reduce the carrying amount of that asset below its fair value is determinable without undue cost and effort. Impairment of Opelika, Alabama Manufacturing Facility Our manufacturing facility in Opelika, Alabama is one of three Baxter manufacturing facilities that currently produce dialyzers used in hemodialysis (HD) treatments. The current competitive environment has increased the global supply of those products and, in connection with our initiatives to streamline our manufacturing footprint and improve our profitability, we have made the decision to cease production of dialyzers at the Opelika facility near the end of 2023. We believe that there is more than adequate availability of dialyzers in the United States and globally, and we intend to continue to manufacture those products at volumes aligned with the related market demand at our other manufacturing facilities that currently produce them. As a result of our decision to cease dialyzer production at this manufacturing facility, we performed a trigger-based recoverability assessment of its long-lived assets, which consist of a building and manufacturing equipment, including specialized equipment used in the production of dialyzers. The carrying amount of that asset group exceeded the estimated undiscounted cash flows expected to be generated, and we recognized an impairment charge of $243 million, classified within cost of sales in the accompanying condensed consolidated statements of income (loss), during the second quarter of 2023 to reduce the carrying amounts to their estimated fair values. The fair values of the building and manufacturing equipment tested for impairment during the second quarter of 2023 were determined based on transaction prices of comparable assets (a market approach). Significant assumptions used in the determination of the fair values included the identification of representative comparable assets. Our long-lived asset fair value measurements are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs. Other Impairments of Long-Lived Assets Related to HD Business In the third quarter of 2023, we completed the implementation of a new operating model intended to simplify and streamline our operations and better align our manufacturing and supply chain to our commercial activities. Our segments were changed during the third quarter of 2023 to align with our new operating model. See further discussion in Note 16, Segment Information. In connection with that segment change, we identified new reporting units for impairment testing purposes and performed fair value measurements of our reporting units to reallocate goodwill to the new reporting units based on their relative fair values and to assess those reporting units for impairment. We identified our HD business within our Kidney Care segment as one of the new reporting units. Based on the estimated fair value of that reporting unit, we allocated no goodwill to it. Additionally, we determined that a triggering event was present to review the carrying amounts of long-lived assets within the HD reporting unit, which include four manufacturing facilities that primarily manufacture HD products, HD equipment leased to customers under operating leases and developed technology intangible assets, for potential impairment. In connection with that evaluation, we determined that the carrying amount of the asset group represented by our HD reporting unit, which is the lowest level for which identifiable cash flows are largely independent of other assets and liabilities, exceeded its forecasted undiscounted cash flows. We then measured the excess of the carrying amount of that asset group over its fair value and allocated the resulting impairment to its long-lived assets, limiting the impairments of individual assets within the group to amounts that would not result in their carrying amounts being written down below their fair values. As a result, we recognized $267 million of long-lived asset impairment charges, comprised of (i) a $190 million impairment charge related to certain manufacturing equipment, operating lease right-of-use assets and HD equipment leased to customers and (ii) a $77 million impairment charge related to developed technology intangible assets. The impairments are classified within cost of sales in the accompanying consolidated statements of income (loss) for the three and nine months ended September 30, 2023. The fair value of the HD asset group was based on a discounted cash flow model (an income approach). Significant assumptions used in the determination of its fair value include forecasted cash flows, discount rates and terminal growth rates. The discounted cash flow model used to determine the fair value of the HD asset group during the third quarter 2023 reflected our most recent cash flow projections, a discount rate of 8% and a terminal growth rate of 1.5%. We also measured the fair values of individual assets within that asset group to ensure that the allocation of the asset group’s impairment to the long-lived assets within that group would not reduce the carrying amount of any individual asset below its fair value. The fair values of the buildings, manufacturing equipment and HD equipment leased to customers within that asset group were determined based on transaction prices of comparable assets (a market approach). Significant assumptions used in the determination of those fair values included the identification of representative comparable assets. The fair value of the right-of-use asset within that group was determined based on market rents and discount rates. Our long-lived asset fair value measurements are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs. Interest Expense, Net Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Interest expense, net of capitalized interest $ 136 $ 109 $ 395 $ 290 Interest income (8) (5) (26) (12) Interest expense, net $ 128 $ 104 $ 369 $ 278 Other (Income) Expense, Net Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Foreign exchange (gains) losses, net $ 13 $ — $ 49 (26) Pension and other postretirement benefit plans (11) (6) (32) (18) Pension curtailment — — — (11) Change in fair value of marketable equity securities (3) 3 3 (5) Reclassification of cumulative translation loss to earnings — 65 — 65 Non-marketable investment impairments — — 23 — Other, net (6) (1) (10) (4) Other (income) expense, net $ (7) $ 61 $ 33 $ 1 Non-Cash Operating and Investing Activities Right-of-use operating lease assets obtained in exchange for lease obligations for the nine months ended September 30, 2023 and 2022 were $73 million and $59 million, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS, NET	GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill The following is a reconciliation of goodwill by segment. (in millions) Americas EMEA APAC Medical Products and Therapies Healthcare Systems and Technologies 1 Pharmaceuticals Kidney Care Total Balance as of December 31, 2022 $ 1,965 $ 289 $ 210 $ — $ 3,988 $ — $ — $ 6,452 Currency translation and other (27) (4) (3) (2) (7) (1) (1) (45) Reallocation of goodwill (1,938) (285) (207) 1,195 — 542 693 — Balance as of September 30, 2023 $ — $ — $ — $ 1,193 $ 3,981 $ 541 $ 692 $ 6,407 1 Prior to the third quarter of 2023, our Healthcare Systems and Technologies segment was referred to as our Hillrom segment. We assess goodwill and indefinite-lived intangible assets for impairment annually during the fourth quarter or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We recognize a goodwill impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value. Change in Reportable Segments As discussed in Note 16, Segment Information, our reportable segments were previously comprised of the following geographic segments related to our legacy Baxter business: Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific), and a global segment for our Hillrom business. In the third quarter of 2023, we completed the implementation of a new operating model intended to simplify and streamline our operations and better align our manufacturing and supply chain to our commercial activities. Our segments were changed during the third quarter of 2023 to align with our new operating model. Our business is comprised of four segments under this new operating model: Medical Products and Therapies, Healthcare Systems and Technologies (formerly referred to as our Hillrom segment), Pharmaceuticals and Kidney Care. As a result of this segment change, we reallocated the goodwill from our previous Americas, EMEA and APAC segments to the reporting units within our new Medical Products and Therapies, Pharmaceuticals and Kidney Care segments based on the relative fair values of those reporting units. We also performed goodwill impairment assessments of all of our reporting units during the third quarter of 2023, including both our legacy reporting units and the reporting units of our new segments, and we did not identify any goodwill impairments. Goodwill Impairments We acquired Hill-Rom Holdings, Inc. in December 2021 and recognized $6.83 billion of goodwill and $6.03 billion of other intangible assets, including $1.91 billion of indefinite-lived intangible assets, in connection with that acquisition. During the third quarter of 2022, we performed trigger-based impairment tests for each of the reporting units within our Hillrom segment (currently referred to as our Healthcare Systems and Technologies segment), as well as the indefinite-lived intangible assets, consisting primarily of trade names, that we acquired in connection with the Hillrom acquisition. We performed those tests as of September 30, 2022 due to (a) current macroeconomic conditions, including the rising interest rate environment and broad declines in equity valuations, and (b) reduced earnings forecasts for our Hillrom reporting units, driven primarily by shortages of certain component parts used in our products, raw materials inflation and increased supply chain costs. Those impairment tests resulted in total pre-tax goodwill impairment charges of $2.79 billion in the third quarter of 2022. The fair values of the reporting units for which impairments were recognized during the third quarter of 2022 were determined based on a discounted cash flow model (an income approach) and earnings multiples (a market approach) based on the guideline public company method. Significant assumptions used in the determination of the fair values of our reporting units generally include forecasted cash flows, discount rates, terminal growth rates and earnings multiples. The discounted cash flow models used to determine the fair values of our reporting units during 2022 reflected our most recent cash flow projections, discount rates ranging from 9% to 10% and terminal growth rates ranging from 2% to 3%. Our reporting unit fair value measurements are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs. See further discussion below for information regarding Hillrom indefinite-lived intangible asset impairment charges recognized during the third quarter of 2022. Other intangible assets, net The following is a summary of our other intangible assets. Indefinite-lived intangible assets (in millions) Customer relationships Developed technology, including patents Other amortized intangible assets Trade names In process Research and Development Total September 30, 2023 Gross other intangible assets $ 3,442 $ 3,778 $ 320 $ 1,571 $ 163 $ 9,274 Accumulated amortization (631) (2,161) (252) — — (3,044) Other intangible assets, net $ 2,811 $ 1,617 $ 68 $ 1,571 $ 163 $ 6,230 December 31, 2022 Gross other intangible assets $ 3,442 $ 3,836 $ 325 $ 1,571 $ 202 $ 9,376 Accumulated amortization (460) (1,888) (235) — — (2,583) Other intangible assets, net $ 2,982 $ 1,948 $ 90 $ 1,571 $ 202 $ 6,793 Intangible asset amortization expense was $162 million and $168 million for the three months ended September 30, 2023 and 2022, respectively, and $481 million and $578 million for the nine months ended September 30, 2023 and 2022, respectively. Intangible Asset Impairments Impairment of Developed Technology Intangible Asset Related to HD Business In the third quarter of 2023, we reviewed the long-lived assets of our HD reporting unit for potential impairment and recognized a $77 million impairment of developed technology intangible assets, in addition to other impairments of property, plant and equipment and operating lease right-of-use assets. See Note 3, Supplemental Financial Information, for information about the impairment of this intangible asset, impairments of other long-lived assets related to our HD business and related fair value measurements. Impairment of Indefinite-Lived Intangible Assets from Our Hillrom Acquisition In the third quarter of 2022, we recognized pre-tax impairment charges of $332 million to reduce the carrying amounts of certain indefinite-lived intangible assets, which primarily related to the Hillrom and Welch Allyn trade names acquired in the Hillrom acquisition, to their estimated fair values. Those intangible asset impairment charges are classified within cost of sales in the accompanying consolidated statements of income (loss) for the three and nine months ended September 30, 2022. The fair values of the trade name intangible assets were determined using the relief from royalty method. Significant assumptions used in the determination of the fair values of the trade name intangible assets included revenue growth rates, terminal growth rates, discount rates and royalty rates. The relief from royalty models used in the determination of the fair values of our trade name intangible assets during 2022 reflected our most recent revenue projections, a discount rate of 9.5%, royalty rates ranging from 3% to 5% and terminal growth rates ranging from 2% to 3%. Our trade name intangible asset fair value measurements are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs.

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS Credit Facilities In the first quarter of 2023, we amended the credit agreements governing our U.S. dollar-denominated term loan credit facility and revolving credit facility and the guaranty agreement with respect to our Euro-denominated revolving credit facility, in each case to amend the net leverage ratio covenant to increase the maximum net leverage ratio for the four fiscal quarters ending March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023. Our U.S. dollar-denominated revolving credit facility has a capacity of $2.50 billion and our Euro-denominated revolving credit facility has a capacity of €200 million . Each of the facilities matures in 2026. There were no borrowings outstanding under these credit facilities as of September 30, 2023 or December 31, 2022. Our commercial paper borrowing arrangements require us to maintain undrawn borrowing capacity under our credit facilities for an amount at least equal to our outstanding commercial paper borrowings. Based on our covenant calculations as of September 30, 2023 we have capacity to draw on the full amounts under our credit facilities, less commercial paper borrowings which were $514 million as of September 30, 2023. In the first nine months of 2023, we repaid $350 million of our $2.00 billion three-year term loan facility. In October 2023, we repaid an additional $950 million under that term loan facility and our entire $514 million of outstanding commercial paper borrowings, both using proceeds from the sale of our BPS business. The losses from our early extinguishments of debt were not significant. Commercial Paper As of September 30, 2023, we had $514 million of commercial paper outstanding with a weighted-average interest rate of 5.53% and an original weighted-average term of 13 days. As of December 31, 2022, we had $299 million of commercial paper outstanding with a weighted-average interest rate of 4.75% and an original weighted-average term of 32 days.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are involved in product liability, patent, commercial, and other legal matters that arise in the normal course of our business. We record a liability when a loss is considered probable and the amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, and no amount within the range is a better estimate than any other amount, the minimum amount in the range is accrued. If a loss is not probable or a probable loss cannot be reasonably estimated, no liability is recorded. As of September 30, 2023 and December 31, 2022, our total recorded reserves with respect to legal and environmental matters were $33 million and $28 million, respectively. We have established reserves for certain of the matters discussed below. We are not able to estimate the amount or range of any loss for certain contingencies for which there is no reserve or additional loss for matters already reserved. While our liability in connection with these claims cannot be estimated and the resolution thereof in any reporting period could have a significant impact on our results of operations and cash flows for that period, the outcome of these legal proceedings is not expected to have a material adverse effect on our consolidated financial position. While we believe that we have valid defenses in the matters set forth below, litigation is inherently uncertain, excessive verdicts do occur, and we may incur material judgments or enter into material settlements of claims. In addition to the matters described below, we remain subject to the risk of future administrative and legal actions. With respect to governmental and regulatory matters, these actions may lead to product recalls, injunctions, and other restrictions on our operations (including our ability to launch new products) and monetary sanctions, including significant civil or criminal penalties. With respect to intellectual property, we may be exposed to significant litigation concerning the scope of our and others’ rights. Such litigation could result in a loss of patent protection or the ability to market products, which could lead to a significant loss of sales, or otherwise materially affect future results of operations. Environmental We are involved as a potentially responsible party (PRP) for environmental clean-up costs at six Superfund sites. Under the U.S. Superfund statute and many state laws, generators of hazardous waste sent to a disposal or recycling site are liable for site cleanup if contaminants from that property later leak into the environment. The laws generally provide that a PRP may be held jointly and severally liable for the costs of investigating and remediating the site. Separate from these Superfund cases noted above, we are involved in ongoing environmental remediations associated with historic operations at certain of our facilities. As of September 30, 2023 and December 31, 2022, our environmental reserves, which are measured on an undiscounted basis, were $16 million and $19 million, respectively. After considering these reserves, the outcome of these matters is not expected to have a material adverse effect on our financial position or results of operations. General Litigation In August 2019, we were named in an amended complaint filed by Fayette County, Georgia in the MDL In re: National Prescription Opiate Litigation pending in the U.S. District Court, Northern District of Ohio. The complaint alleges that multiple manufacturers and distributors of opiate products improperly marketed and diverted these products, which caused harm to Fayette County. The complaint is limited in its allegations as to Baxter and does not distinguish between injectable opiate products and orally administered opiates. We manufactured generic injectable opiate products in our facility in Cherry Hill, NJ, which we divested in 2011. On July 17, 2023, we were voluntarily dismissed from the litigation without prejudice. In March 2020, two lawsuits were filed against us in the Northern District of Illinois by plaintiffs alleging injuries as a result of exposure to ethylene oxide used in our manufacturing facility in Mountain Home, Arkansas to sterilize certain of our products. The plaintiffs sought damages, including compensatory and punitive damages in an unspecified amount, and unspecified injunctive and declaratory relief. The parties reached agreement to settle these lawsuits in the third quarter of 2021 for amounts that were not material to our financial results, which were paid in the fourth quarter of 2021. We have since resolved, without litigation, additional claims of injuries from exposure to ethylene oxide at Mountain Home for amounts within accruals previously established as of December 31, 2021. On October 20, 2022, a lawsuit was filed against us in the Western District of Arkansas alleging injury as a result of exposure to ethylene oxide at Mountain Home. On December 16, 2022, we filed a motion to dismiss and for a more definite statement. In response, Plaintiffs filed a First Amended Complaint on January 6, 2023. We answered the First Amended Complaint on January 27, 2023. The parties reached agreement to settle this lawsuit in the third quarter of 2023 for an amount that was not material to our financial results, which was paid in the fourth quarter of 2023. The case was dismissed on October 17, 2023. We acquired Hill-Rom Holdings, Inc. (Hillrom) on December 13, 2021. In July 2021, Hill-Rom, Inc., a wholly-owned subsidiary of Hillrom, received a subpoena from the United States Office of Inspector General for the Department of Health and Human Services (the DHHS) requesting documents and information related to compliance with the False Claims Act and the Anti-Kickback Statute. Hillrom has been working with the DHHS and the Department of Justice (DOJ) to provide information responsive to the subpoena. Hillrom also voluntarily began a related internal review and Hillrom and now Baxter have been cooperating fully with the DHHS and the DOJ with respect to these matters. In October 2022, the DOJ issued a separate Civil Investigative Demand (CID) addressed to Hillrom, requesting documents and information related to compliance with the False Claims Act and the Anti-Kickback Statute. Baxter is cooperating fully with the DOJ in responding to the CID. The DHHS and DOJ often issue these types of requests when investigating alleged violations of the False Claims Act. On December 28, 2021, Linet Americas, Inc. (Linet) filed a complaint against Hill-Rom Holdings, Inc., Hill-Rom Company, Inc., and Hill-Rom Services, Inc. in the United States District Court for the Northern District of Illinois, captioned Linet Americas, Inc. v. Hill-Rom Holdings, Inc.; Hill-Rom Company, Inc.; Hill-Rom Services, Inc. Linet alleges that Hillrom violated Sections 1, 2 and 3 of The Sherman Antitrust Act of 1890 and the Illinois Antitrust Act by allegedly engaging in anti-competitive conduct in alleged markets for standard, ICU and birthing beds. Hillrom filed an answer to the complaint on January 28, 2022 and filed a motion challenging certain aspects of plaintiff's case on May 27, 2022. In July 2023, we and certain of our officers were named in a class action complaint captioned Grover J. Kelley et al. v. Baxter International Inc. et al. that was filed in the United States District Court for the Northern District of Illinois. The plaintiff, who allegedly purchased securities during the specified class period, filed this putative class action on behalf of himself and shareholders who acquired Baxter securities on the public market between May 25, 2022, and February 8, 2023. The plaintiff alleges that we and certain officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder by making allegedly false and misleading statements and failing to disclose material facts relating to supply chain and financial guidance. The Court appointed Kelley as lead plaintiff on September 20, 2023.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Cash Dividends Cash dividends declared per share for the three and nine months ended September 30, 2023 were $0.29 and $0.87, respectively. Cash dividends declared per share for the three and nine months ended September 30, 2022 were $0.29 and $0.86, respectively. Stock Repurchase Programs In July 2012, our Board of Directors authorized a share repurchase program and the related authorization amount was subsequently increased a number of times. During the first nine months of 2023 we did not repurchase any shares

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Comprehensive income includes all changes in stockholders’ equity that do not arise from transactions with stockholders, and consists of net income (loss), cumulative translation adjustments (CTA), certain gains and losses from pension and other postretirement employee benefit (OPEB) plans, gains and losses on cash flow hedges and unrealized gains and losses on available-for-sale debt securities. The following table is a net-of-tax summary of the changes in accumulated other comprehensive income (loss) (AOCI) by component for the nine months ended September 30, 2023 and 2022. Gains (losses) (in millions) CTA Pension and OPEB plans Hedging activities Available-for-sale debt securities Total Balance as of December 31, 2022 $ (3,386) $ (331) $ (119) $ 3 $ (3,833) Other comprehensive income (loss) before reclassifications (62) — 15 — (47) Amounts reclassified from AOCI (a) 185 (16) (5) — 164 Net other comprehensive income (loss) 123 (16) 10 — 117 Balance as of September 30, 2023 $ (3,263) $ (347) $ (109) $ 3 $ (3,716) Gains (losses) (in millions) CTA Pension and OPEB plans Hedging activities Available-for-sale debt securities Total Balance as of December 31, 2021 $ (2,907) $ (347) $ (126) $ — $ (3,380) Other comprehensive income (loss) before reclassifications (816) 29 33 2 (752) Amounts reclassified from AOCI (a) 65 19 (6) — 78 Net other comprehensive income (loss) (751) 48 27 2 (674) Balance as of September 30, 2022 $ (3,658) $ (299) $ (99) $ 2 $ (4,054) (a) See table below for details about these reclassifications. The following is a summary of the amounts reclassified from AOCI to net income during the three and nine months ended September 30, 2023 and 2022. Amounts reclassified from AOCI (a) (in millions) Three months ended September 30, 2023 Nine months ended September 30, 2023 Location of impact in income statement CTA Reclassification of cumulative translation loss to earnings from BPS divestiture $ (185) $ (185) Income from discontinued operations, net of tax Less: Tax effect — — Income from discontinued operations, net of tax $ (185) $ (185) Net of tax Pension and OPEB items Amortization of net losses and prior service costs or credits $ 5 $ 15 Other (income) expense, net Pension settlement from BPS divestiture 4 4 Income from discontinued operations, net of tax 9 19 Less: Tax effect — (3) Income tax expense $ 9 $ 16 Net of tax Gains (losses) on hedging activities Foreign exchange contracts $ 3 $ 10 Cost of sales Interest rate contracts (1) (4) Interest expense, net 2 6 Total before tax Less: Tax effect — (1) Income tax expense $ 2 $ 5 Net of tax Total reclassifications for the period $ (174) $ (164) Total net of tax (a) Amounts in parentheses indicate reductions to net income Amounts reclassified from AOCI (a) (in millions) Three months ended September 30, 2022 Nine months ended September 30, 2022 Location of impact in income statement CTA Reclassification of cumulative translation loss to earnings $ (65) $ (65) Other (income) expense, net Less: Tax effect — — Income tax expense $ (65) $ (65) Net of tax Amortization of pension and OPEB items Amortization of net losses and prior service costs or credits $ (8) $ (25) Other (income) expense, net Less: Tax effect 2 6 Income tax expense $ (6) $ (19) Net of tax Gains on hedging activities Foreign exchange contracts $ 6 $ 11 Cost of sales Interest rate contracts (1) (4) Interest expense, net 5 7 Total before tax Less: Tax effect (1) (1) Income tax expense $ 4 $ 6 Net of tax Total reclassifications for the period $ (67) $ (78) Total net of tax

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in the contract. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Some of our contracts have multiple performance obligations. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. Our global payment terms are typically between 30-90 days. Most of our performance obligations are satisfied at a point in time. This includes sales of our broad portfolio of essential healthcare products across our business segments. We earn revenues from acute and chronic dialysis therapies; sterile IV solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; surgical hemostat and sealant products; smart bed systems; patient monitoring and diagnostic technologies; respiratory health devices; and advanced equipment for the surgical space. For most of those offerings, our performance obligation is satisfied upon delivery to the customer. Shipping and handling activities are considered to be fulfillment activities and are not considered to be a separate performance obligation. To a lesser extent, we enter into arrangements for which revenue may be recognized over time. For example, our recently divested BPS business, which is reported within discontinued operations and included contract manufacturing arrangements, our Healthcare Systems and Technologies segment includes digital and connected care solutions and collaboration tools that are implemented over time and all of our segments include equipment leases and certain subscription software and licensing arrangements. We recognize revenue for these arrangements over time or at a point in time depending on our evaluation of when the customer obtains control of the promised goods or services. Revenue is recognized over time when we are creating or enhancing an asset that the customer controls as the asset is created or enhanced or our performance does not create an asset with an alternative use and we have an enforceable right to payment for performance completed. As of September 30, 2023, we had $7.35 billion of transaction price allocated to remaining performance obligations related to executed contracts with an original duration of more than one year, which are primarily included in the Medical Product and Therapies and Kidney Care segments. Some contracts in the United States included in this amount contain index-dependent price increases, which are not known at this time. We expect to recognize approximately 10% of this amount as revenue over the remainder of 2023, 45% in 2024, 25% in 2025, 10% in 2026 and 10% thereafter. Significant Judgments Revenues from product sales are recorded at the net sales price, which includes estimates of variable consideration primarily related to rebates and wholesaler chargebacks. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are included in accrued expenses and other current liabilities and accounts receivable, net on the condensed consolidated balance sheets. Management's estimates take into consideration historical experience, current contractual and statutory requirements, specific known market events and trends, industry data, and forecasted customer buying and payment patterns. Overall, these reserves reflect our best estimates of the amount of consideration to which we are entitled based on the terms of the contract using the expected value method. The amount of variable consideration included in the net sales price is limited to the amount for which it is probable that a significant reversal in revenue will not occur when the related uncertainty is resolved. Revenue recognized during the three and nine months ended September 30, 2023 and 2022 related to performance obligations satisfied in prior periods was not material. Additionally, our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately and determining the allocation of the transaction price may require significant judgement. Contract Balances The timing of revenue recognition, billings and cash collections results in the recognition of trade accounts receivable, unbilled receivables, contract assets and customer advances and deposits (contract liabilities) on our condensed consolidated balance sheets. Net trade accounts receivable was $2.28 billion and $2.34 billion as of September 30, 2023 and December 31, 2022, respectively. For contract manufacturing arrangements, revenue is primarily recognized throughout the production cycle, which typically lasts up to 90 days, resulting in the recognition of contract assets until the related services are completed and the customers are billed. Additionally, for certain arrangements containing a performance obligation to deliver software that can be used with medical devices, we recognize revenue upon delivery of the software, which results in the recognition of contract assets when customers are billed over time, generally over one one The following table summarizes our contract assets: (in millions) September 30, December 31, Contract manufacturing services $ 3 $ 10 Software sales 45 43 Bundled equipment and consumable medical products contracts 114 121 Contract assets $ 162 $ 174 Contract liabilities represent deferred revenues that arise as a result of cash received from customers or where the timing of billing for services precedes satisfaction of our performance obligations. Such remaining performance obligations represent the portion of the contract price for which work has not been performed and are primarily related to our installation and service contracts. We expect to satisfy the majority of the remaining performance obligations and recognize revenue related to installation and service contracts within the next 12 months with most of the non-current performance obligations satisfied within 24 months. The following table summarizes contract liability activity for the nine months ended September 30, 2023 and 2022. The contract liability balance represents the transaction price allocated to the remaining performance obligations. Nine Months Ended September 30, (in millions) 2023 2022 Balance at beginning of period $ 194 $ 196 New revenue deferrals 491 457 Revenue recognized upon satisfaction of performance obligations (493) (462) Currency translation 3 (3) Balance at end of period $ 195 $ 188 For the nine months ended September 30, 2023 and 2022, $119 million and $99 million of revenue was recognized that was included in contract liabilities as of December 31, 2022 and 2021, respectively. The following table summarizes the classification of contract assets and contract liabilities as reported in the condensed consolidated balance sheets: (in millions) September 30, December 31, Prepaid expenses and other current assets $ 50 $ 52 Other non-current assets 112 122 Contract assets $ 162 $ 174 Accrued expenses and other current liabilities $ 154 $ 154 Other non-current liabilities 41 40 Contract liabilities $ 195 $ 194 Disaggregation of Net Sales Refer to Note 16 for additional information on our net sales including the disaggregation of net sales within each of our segments and net sales by geographic location. Lease Revenue We lease medical equipment, such as smart beds, renal dialysis equipment and infusion pumps, to customers, often in conjunction with arrangements to provide consumable medical products such as dialysis therapies, IV fluids and inhaled anesthetics. Certain of our equipment leases are classified as sales-type leases and the remainder are operating leases. The terms of the related contracts, including the proportion of fixed versus variable payments and any options to shorten or extend the lease term, vary by customer. We allocate revenue between equipment leases and medical products based on their standalone selling prices. The components of lease revenue for the three and nine months ended September 30, 2023 and 2022 were: (in millions) Three months ended September 30, 2023 Nine Months Ended September 30, 2023 Sales-type lease revenue $ 2 $ 9 Operating lease revenue 124 380 Variable lease revenue 12 41 Total lease revenue $ 138 $ 430 (in millions) Three months ended September 30, 2022 Nine months ended September 30, 2022 Sales-type lease revenue $ 3 $ 11 Operating lease revenue 145 380 Variable lease revenue 9 41 Total lease revenue $ 157 $ 432 Our net investment in sales-type leases was $68 million as of September 30, 2023, of which $10 million originated in 2019 and prior, $19 million in 2020, $19 million in 2021, $13 million in 2022, and $7 million in 2023.

BUSINESS OPTIMIZATION CHARGES

BUSINESS OPTIMIZATION CHARGES	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
BUSINESS OPTIMIZATION CHARGES	BUSINESS OPTIMIZATION CHARGESIn recent years, we have undertaken actions to transform our cost structure and enhance operational efficiency. These efforts include restructuring the organization, optimizing the manufacturing footprint, R&D operations and supply chain network, employing disciplined cost management, and centralizing and streamlining certain support functions. The related costs of those actions consisted primarily of employee termination costs, implementation costs, contract termination costs and asset impairments. We currently expect to incur additional pre-tax costs, primarily related to implementation of business optimization programs, of approximately $25 million through the completion of initiatives that are currently underway. We continue to pursue cost savings initiatives, including those related to our newly implemented operating model, intended to simplify and streamline our operations, and to the extent further cost savings opportunities are identified, we would incur additional restructuring charges and costs to implement business optimization programs in future periods. During the three and nine months ended September 30, 2023 and 2022, we recorded the following charges related to business optimization programs. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Restructuring charges $ 64 $ 57 $ 461 $ 150 Costs to implement business optimization programs 17 16 47 46 Total business optimization charges $ 81 $ 73 $ 508 $ 196 For segment reporting purposes, business optimization charges are unallocated expenses. Costs to implement business optimization programs for the three and nine months ended September 30, 2023 and 2022, respectively, consisted primarily of external consulting and transition costs, including employee compensation and related costs. These costs were primarily included within cost of sales and SG&A expense. During the three and nine months ended September 30, 2023 and 2022, we recorded the following restructuring charges. Three months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 17 $ 33 $ 5 $ 55 Contract termination and other costs — 2 — 2 Asset impairments 7 — — 7 Total restructuring charges $ 24 $ 35 $ 5 $ 64 Three months ended September 30, 2022 (in millions) COGS SG&A R&D Total Employee termination costs $ 13 $ 36 $ 4 $ 53 Contract termination and other costs — 2 — 2 Asset impairments 1 1 — 2 Total restructuring charges $ 14 $ 39 $ 4 $ 57 Nine months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 43 $ 115 $ 12 $ 170 Contract termination and other costs 3 4 — 7 Asset impairments 276 8 — 284 Total restructuring charges $ 322 $ 127 $ 12 $ 461 Nine months ended September 30, 2022 (in millions) COGS SG&A R&D Total Employee termination costs $ 19 $ 99 $ 4 $ 122 Contract termination and other costs — 19 — 19 Asset impairments 1 8 — 9 Total restructuring charges $ 20 $ 126 $ 4 $ 150 For the three and nine months ended September 30, 2023, $14 million and $111 million, respectively, of the restructuring charges reflected in the table above, consisting of employee termination costs, were related to the implementation of our previously announced new operating model intended to simplify and streamline our operations. For the nine months ended September 30, 2023, $253 million of the restructuring charges reflected in the table above, consisting of $243 million of asset impairment charges and $10 million of employee termination costs, were related to our decision to cease production of dialyzers at one of our manufacturing facilities in connection with our initiatives to streamline our manufacturing footprint and improve our profitability. See Note 3 for additional information. For the three months ended September 30, 2022, $14 million of the restructuring charges reflected in the table above were related to integration activities for the Hillrom acquisition, consisting of $12 million of employee termination costs and $2 million of contract termination. For the nine months ended September 30, 2022, $97 million of the restructuring charges reflected in the table above were related to integration activities for the Hillrom acquisition, consisting of $71 million of employee termination costs, $19 million of contract termination and other costs and $7 million of asset impairments. The following table summarizes activity in the liability related to our restructuring initiatives. (in millions) Liability balance as of December 31, 2022 $ 107 Charges 189 Payments (108) Reserve adjustments (12) Currency translation (5) Liability balance as of September 30, 2023 $ 171 Substantially all of our restructuring liabilities as of September 30, 2023 relate to employee termination costs, with the remaining liabilities attributable to contract termination costs. Substantially all of the cash payments for those liabilities are expected to be disbursed by the end of 2024.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS	PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS The following is a summary of net periodic benefit cost relating to our pension and OPEB plans. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Pension benefits Service cost $ 7 $ 19 $ 20 $ 59 Interest cost 36 25 108 73 Expected return on plan assets (44) (39) (131) (118) Amortization of net losses and prior service costs 1 10 3 33 Net periodic pension cost $ — $ 15 $ — $ 47 OPEB Interest cost $ 2 $ 1 $ 6 $ 3 Amortization of net loss and prior service credit (6) (3) (18) (9) Net periodic OPEB cost (income) $ (4) $ (2) $ (12) $ (6)

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective income tax rate was 129.7% and 1.8% for the three months ended September 30, 2023 and 2022, respectively, and 58.4% and 0.5% for the nine months ended September 30, 2023 and 2022, respectively. Our effective income tax rate can differ from the 21.0% U.S. federal statutory rate due to a number of factors, including foreign rate differences, tax incentives, non-deductible expenses, non-taxable income, increases or decreases in valuation allowances, increases or decreases in liabilities for uncertain tax positions and excess tax benefits or shortfalls on stock compensation awards. Our effective income tax rate during interim periods reflects our estimated annual effective tax rate excluding discrete items. For the three and nine months ended September 30, 2023, the difference between our effective income tax rate and the U.S. federal statutory rate was primarily driven by the jurisdictional mix of global earnings, which was impacted by the long-lived asset impairments we recognized during the second and third quarters of 2023, and by the significance of non-deductible items to our anticipated pre-tax income for the full year. For the three months ended September 30, 2023, our effective tax rate was also impacted by $13 million of separation-related income tax costs. For the nine months ended September 30, 2023, our effective tax rate was also impacted by a $30 million valuation allowance recorded to reduce the carrying amount of a deferred tax asset for a tax basis step-up related to previously enacted Swiss tax legislation and by $17 million of separation-related income tax costs. For the three and nine months ended September 30, 2022, the difference between our effective income tax rate and the U.S. federal statutory rate was primarily attributable to non-deductible goodwill impairments .

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The numerator for both basic and diluted earnings per share (EPS) is net income (loss) attributable to Baxter stockholders. The denominator for basic EPS is the weighted-average number of shares outstanding during the period. The dilutive effect of outstanding stock options, RSUs and PSUs is reflected in the denominator for diluted EPS using the treasury stock method. The following table is a reconciliation of net income (loss) attributable to Baxter stockholders. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Income (loss) from continuing operations $ 51 $ (2,991) $ (142) $ (2,798) Less: Net income attributable to noncontrolling interests 3 3 6 8 Income (loss) from continuing operations attributable to Baxter stockholders 48 (2,994) (148) (2,806) Income from discontinued operations 2,460 57 2,559 192 Net income (loss) attributable to Baxter stockholders $ 2,508 $ (2,937) $ 2,411 $ (2,614) The following table is a reconciliation of basic shares and diluted shares. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Basic shares 507 504 506 503 Effect of dilutive securities 2 — — — Diluted shares 509 504 506 503 The effect of dilutive securities for the three months ended September 30, 2023 includes unexercised stock options, unvested RSUs and contingently issuable shares related to granted PSUs. Basic and diluted shares are the same for the three months ended September 30, 2022 and the nine months ended September 30, 2023 and 2022 due to our net losses from continuing operations for those periods.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We operate on a global basis and are exposed to the risk that our earnings, cash flows and equity could be adversely impacted by fluctuations in foreign exchange and interest rates. Our hedging policy attempts to manage these risks to an acceptable level based on our judgment of the appropriate trade-off between risk, opportunity and costs. We are primarily exposed to foreign exchange risk with respect to recognized assets and liabilities, forecasted transactions and net assets denominated in the Euro, Chinese Renminbi, Japanese Yen, Swedish Krona, British Pound, Polish Zloty, Mexican Peso, Australian Dollar, Canadian Dollar, Korean Won, Colombian Peso, Brazilian Real, Russian Ruble, Turkish Lira and Indian Rupee. We manage our foreign currency exposures on a consolidated basis, which allows us to net exposures and take advantage of any natural offsets. In addition, we use derivative and nonderivative instruments to further reduce our net exposure to foreign exchange risk. Gains and losses on the hedging instruments are intended to offset losses and gains on the hedged transactions and reduce the earnings and equity volatility resulting from changes in foreign exchange rates. Financial market and currency volatility may limit our ability to cost-effectively hedge these exposures. We are also exposed to the risk that our earnings and cash flows could be adversely impacted by fluctuations in interest rates. Our policy is to manage interest costs using the mix of fixed- and floating-rate debt that we believe is appropriate at that time. To manage this mix in a cost-efficient manner, we periodically enter into interest rate swaps in which we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional amount. We do not hold any instruments for trading purposes and none of our outstanding derivative instruments contain credit-risk-related contingent features. Derivative instruments are recognized as either assets or liabilities at fair value in the condensed consolidated balance sheets and are classified as short-term or long-term based on the scheduled maturity of the instrument. We designate certain of our derivatives and foreign-currency denominated debt as hedging instruments in cash flow, fair value or net investment hedges. Cash Flow Hed g es We may use options, including collars and purchased options, forwards and cross-currency swaps to hedge the foreign exchange risk to earnings relating to forecasted transactions and recognized assets and liabilities. We periodically use treasury rate locks to hedge the risk to earnings associated with movements in interest rates relating to anticipated issuances of debt. For each derivative instrument that is designated and effective as a cash flow hedge, the gain or loss on the derivative is recorded in AOCI and then recognized in earnings consistent with the underlying hedged item. Option premiums or net premiums paid are initially recorded as assets and reclassified to other comprehensive income (OCI) over the life of the option, and then recognized in earnings consistent with the underlying hedged item. Cash flow hedges are classified in cost of sales and interest expense, net, and are primarily related to forecasted intra-company sales denominated in foreign currencies and forecasted interest payments on anticipated issuances of debt, respectively. The notional amounts of foreign exchange contracts designated as cash flow hedges were $437 million and $398 million as of September 30, 2023 and December 31, 2022, respectively. The maximum term over which we have cash flow hedge contracts in place related to forecasted transactions at September 30, 2023 is 12 months for foreign exchange contracts. There were no outstanding interest rate contracts designated as cash flow hedges as of September 30, 2023 and December 31, 2022. Fair Value Hed g es We periodically use interest rate swaps to convert a portion of our fixed-rate debt into variable-rate debt. These instruments hedge our earnings from changes in the fair value of debt due to fluctuations in the designated benchmark interest rate. For each derivative instrument that is designated and effective as a fair value hedge, the gain or loss on the derivative is recognized immediately to earnings, and offsets changes in fair value attributable to a particular risk, such as changes in interest rates, of the hedged item, which are also recognized in earnings. Changes in the fair value of hedge instruments designated as fair value hedges are classified in interest expense, net, as they hedge the interest rate risk associated with certain of our fixed-rate debt. There were no outstanding interest rate contracts designated as fair value hedges as of September 30, 2023 and December 31, 2022. Net Investment Hed g es In May 2017, we issued €600 million of senior notes due May 2025. In May 2019, we issued €750 million of senior notes due May 2024 and €750 million of senior notes due May 2029. We have designated these debt obligations as hedges of our net investment in our European operations and, as a result, mark to spot rate adjustments on the outstanding debt balances are recorded as a component of AOCI. As of September 30, 2023, we had an accumulated pre-tax unrealized translation gain in AOCI of $105 million related to the Euro-denominated senior notes. Dedesignations If it is determined that a derivative or nonderivative hedging instrument is no longer highly effective as a hedge, we discontinue hedge accounting prospectively. Gains or losses relating to terminations of effective cash flow hedges generally continue to be deferred and are recognized consistent with the loss or income recognition of the underlying hedged items. However, if it is probable that the hedged forecasted transactions will not occur, any gains or losses would be immediately reclassified from AOCI to earnings. There were no cash flow hedge dedesignations in the first nine months of 2023 or 2022 resulting from changes in our assessment of the probability that the hedged forecasted transactions would occur. If we terminate a fair value hedge, an amount equal to the cumulative fair value adjustment to the hedged item at the date of termination is amortized to earnings over the remaining term of the hedged item. There were no fair value hedges terminated during the first nine months of 2023 or 2022. If we remove a net investment hedge designation, any gain or loss recognized in AOCI is not reclassified to earnings until we sell, liquidate, or deconsolidate the foreign investments that were being hedged. There were no net investment hedges terminated during the first nine months of 2023 or 2022. Undesignated Derivative Instruments We use forward contracts to hedge earnings from the effects of foreign exchange relating to certain of our intra-company and third-party receivables and payables denominated in a foreign currency. These derivative instruments are generally not formally designated as hedges and the terms of these instruments generally do not exceed one month. The total notional amount of undesignated derivative instruments was $626 million as of September 30, 2023 and $753 million as of December 31, 2022. Gains and Losses on Hedging Instruments and Undesignated Derivative Instruments The following tables summarize the gains and losses on our hedging instruments and the classification of those gains and losses within our condensed consolidated financial statements for the three months ended September 30, 2023 and 2022. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI into income (in millions) 2023 2022 2023 2022 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (1) $ (1) Foreign exchange contracts 9 26 Cost of sales 3 6 Net investment hedges 48 126 Other (income) expense, net — — Total $ 57 $ 152 $ 2 $ 5 Location of gain (loss) in income statement Gain (loss) recognized in income (in millions) 2023 2022 Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net $ 2 $ (11) The following tables summarize the gains and losses on our hedging instruments and the classification of those gains and losses within our condensed consolidated financial statements for the nine months ended September 30, 2023 and 2022. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI (in millions) 2023 2022 2023 2022 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (4) $ (4) Foreign exchange contracts 19 42 Cost of sales 10 11 Net investment hedges 10 311 Other (income) expense, net — — Total $ 29 $ 353 $ 6 $ 7 Location of gain (loss) Gain (loss) recognized in income (in millions) 2023 2022 Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net $ (16) $ (34) As of September 30, 2023, $7 million of deferred, net after-tax gains on derivative instruments included in AOCI are expected to be recognized in earnings during the next 12 months, coinciding with when the hedged items are expected to impact earnings. Derivative Assets and Liabilities The following table summarizes the classification and fair values of derivative instruments reported in the condensed consolidated balance sheet as of September 30, 2023. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets $ 13 Accrued expenses and other current liabilities $ 1 Total derivative instruments designated as hedges 13 1 Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets 8 Accrued expenses and other current liabilities 2 Total derivative instruments $ 21 $ 3 The following table summarizes the classification and fair values of derivative instruments reported in the condensed consolidated balance sheet as of December 31, 2022. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets $ 8 Accrued expenses and other current liabilities $ 5 Total derivative instruments designated as hedges 8 5 Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets 6 Accrued expenses and other current liabilities 7 Total derivative instruments $ 14 $ 12 While some of our derivatives are subject to master netting arrangements, we present our assets and liabilities related to derivative instruments on a gross basis within the condensed consolidated balance sheets. Additionally, we are not required to post collateral for any of our outstanding derivatives. The following table provides information on our derivative positions as if they were presented on a net basis, allowing for the right of offset by counterparty. September 30, 2023 December 31, 2022 (in millions) Asset Liability Asset Liability Gross amounts recognized in the condensed consolidated balance sheets $ 21 $ 3 $ 14 $ 12 Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet (1) (1) (4) (4) Total $ 20 $ 2 $ 10 $ 8 The following table presents the amounts recorded on the condensed consolidated balance sheet related to fair value hedges: Carrying amount of hedged item Cumulative amount of fair value hedging adjustment included (in millions) Balance as of September 30, 2023 Balance as of December 31, 2022 Balance as of September 30, 2023 Balance as of December 31, 2022 Long-term debt $ 100 $ 101 $ 3 $ 4 (a) These fair value hedges were terminated in 2018 and earlier periods.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis. Basis of fair value measurement (in millions) Balance as of September 30, 2023 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 21 $ — $ 21 $ — Available-for-sale debt securities 39 — — 39 Marketable equity securities 39 39 — — Total $ 99 $ 39 $ 21 $ 39 Liabilities Foreign exchange contracts $ 3 $ — $ 3 $ — Contingent payments related to acquisitions 19 — — 19 Total $ 22 $ — $ 3 $ 19 Basis of fair value measurement (in millions) Balance as of December 31, 2022 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 14 $ — $ 14 $ — Available-for-sale debt securities 47 — — 47 Marketable equity securities 32 32 — — Total $ 93 $ 32 $ 14 $ 47 Liabilities Foreign exchange contracts $ 12 $ — $ 12 $ — Contingent payments related to acquisitions 84 — — 84 Total $ 96 $ — $ 12 $ 84 As of September 30, 2023 and December 31, 2022, cash and cash equivalents of $5.79 billion and $1.72 billion, respectively, included money market and other short-term funds of approximately $4.34 billion and $341 million, respectively, which are considered Level 2 in the fair value hierarchy. For assets that are measured using quoted prices in active markets, the fair value is the published market price per unit multiplied by the number of units held, without consideration of transaction costs. A majority of the derivatives entered into by us are valued using internal valuation techniques as no quoted market prices exist for such instruments. The principal techniques used to value these instruments are discounted cash flow and Black-Scholes models. The key inputs, which are considered observable and vary depending on the type of derivative, include contractual terms, interest rate yield curves, foreign exchange rates and volatility. Available-for-sale debt securities, which consist of convertible debt and convertible redeemable preferred shares issued by nonpublic entities, are measured using discounted cash flow and option pricing models. Those available-for-sale debt securities are classified as Level 3 fair value measurements when there are no observable transactions near the balance sheet date due to the lack of observable data over certain fair value inputs such as equity volatility. The fair values of available-for-sale debt securities increase when interest rates decrease, equity volatility increases, or the fair values of the equity shares underlying the conversion options increase. Contingent payments related to acquisitions, which consist of milestone payments and sales-based payments, are valued using discounted cash flow techniques. The fair value of milestone payments reflects management’s expectations of probability of payment, and increases as the probability of payment increases or the expected timing of payments is accelerated. The fair value of sales-based payments is based upon probability-weighted future revenue estimates, and increases as revenue estimates increase, probability weighting of higher revenue scenarios increases or the expected timing of payment is accelerated. The following table is a reconciliation of recurring fair value measurements that use significant unobservable inputs (Level 3), which consist of contingent payments related to acquisitions and available-for-sale debt securities. Three months ended September 30, 2023 2022 (in millions) Contingent payments related to acquisitions Available-for-sale debt securities Contingent payments related to acquisitions Available-for-sale debt securities Fair value at beginning of period $ 21 $ 37 $ 113 $ 44 Additions — 2 — — Change in fair value recognized in earnings — — (6) — Payments (2) — (17) — Fair value at end of period $ 19 $ 39 $ 90 $ 44 Nine months ended September 30, 2023 2022 (in millions) Contingent payments related to acquisitions Available-for-sale debt securities Contingent payments related to acquisitions Available-for-sale debt securities Fair value at beginning of period $ 84 $ 47 $ 143 $ 30 Additions — 2 — 21 Change in fair value recognized in earnings (14) (5) (34) — Change in fair value recognized in AOCI — — — 3 Transfers out of Level 3 — (5) — (10) Payments (51) — (19) — Fair value at end of period $ 19 $ 39 $ 90 $ 44 During the second quarter of 2022, $8 million of available-for-sale debt securities that were previously classified as Level 3 converted to marketable equity securities, upon the initial public offering of the investee and were reclassified to Level 1 in the fair value hierarchy at that time. Financial Instruments Not Measured at Fair Value In addition to the financial instruments that we are required to recognize at fair value in the condensed consolidated balance sheets, we have certain financial instruments that are recognized at amortized cost or some basis other than fair value. For these financial instruments, the following table provides the values recognized in the condensed consolidated balance sheets and the estimated fair values as of September 30, 2023 and December 31, 2022. Book values Fair values(a) (in millions) 2023 2022 2023 2022 Liabilities Current maturities of long-term debt and finance lease obligations $ 1,912 $ 1,105 $ 1,891 $ 1,079 Long-term debt and finance lease obligations 14,067 15,232 12,462 13,657 (a) These fair value amounts are classified as Level 2 within the fair value hierarchy as they are estimated based on observable inputs. The carrying value of short-term debt approximates its fair value due to the short-term maturities of the obligations. The estimated fair values of current and long-term debt were computed by multiplying price by the notional amount of the respective debt instruments. Price is calculated using the stated terms of the respective debt instrument and yield curves commensurate with our credit risk. The carrying values of other financial instruments not presented in the above table, such as accounts receivable, short-term debt and accounts payable, approximate their fair values due to the short-term maturities of most of those assets and liabilities. Investments Without Readily Determinable Fair Values

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our reportable segments were previously comprised of the following geographic segments related to our legacy Baxter business: Americas (North and South America), EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific), and a global segment for our Hillrom business. In the third quarter of 2023, we completed the implementation of a new operating model intended to simplify and streamline our operations and better align our manufacturing and supply chain to our commercial activities. Our business is comprised of four segments under this new operating model: Medical Products and Therapies, Healthcare Systems and Technologies (formerly referred to as our Hillrom segment), Pharmaceuticals and Kidney Care. Our segments were changed during the third quarter of 2023 to align with our new operating model and prior period segment disclosures have been revised to reflect the new segment presentation. The Medical Products and Therapies segment includes sales of our sterile IV solutions, infusion systems, administration sets, parenteral nutrition therapies and surgical hemostat, sealant and adhesion prevention products. The Healthcare Systems and Technologies segment includes sales of our connected care solutions and collaboration tools, including smart bed systems, patient monitoring systems and diagnostic technologies, respiratory health devices and advanced equipment for the surgical space, including surgical video technologies, precision positioning devices and other accessories. The Pharmaceuticals segment includes sales of specialty injectable pharmaceuticals, inhaled anesthesia and drug compounding. The Kidney Care segment includes sales of chronic and acute dialysis therapies and services, including peritoneal dialysis, hemodialysis, continuous renal replacement therapies (CRRT) and other organ support therapies. Other sales not allocated to a segment primarily include sales of products and services provided directly through certain of our manufacturing facilities and royalty income under a business development arrangement that ended in early 2023 when we acquired the related product rights. Disaggregation of Net Sales The following tables present our U.S. and International disaggregated net sales. Intersegment sales are eliminated in consolidation. Three Months Ended September 30, 2023 2022 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 570 $ 433 $ 1,003 $ 567 $ 389 $ 956 Advanced Surgery 139 116 255 141 106 247 Medical Products and Therapies 709 549 1,258 708 495 1,203 Care and Connectivity Solutions 317 126 443 339 117 456 Front Line Care 234 67 301 209 70 279 Healthcare Systems and Technologies 551 193 744 548 187 735 Injectables and Anesthesia 195 156 351 173 152 325 Drug Compounding — 229 229 — 200 200 Pharmaceuticals 195 385 580 173 352 525 Chronic Therapies 1 233 688 921 236 698 934 Acute Therapies 1 66 122 188 57 109 166 Kidney Care 299 810 1,109 293 807 1,100 Other 1 12 5 17 36 10 46 Total Baxter $ 1,766 $ 1,942 $ 3,708 $ 1,758 $ 1,851 $ 3,609 Nine Months Ended September 30, 2023 2022 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 1,654 $ 1,264 $ 2,918 $ 1,672 $ 1,157 $ 2,829 Advanced Surgery 433 340 773 428 310 738 Medical Products and Therapies 2,087 1,604 3,691 2,100 1,467 3,567 Care and Connectivity Solutions 926 381 1,307 991 359 1,350 Front Line Care 681 230 911 618 237 855 Healthcare Systems and Technologies 1,607 611 2,218 1,609 596 2,205 Injectables and Anesthesia 550 437 987 494 467 961 Drug Compounding — 665 665 — 613 613 Pharmaceuticals 550 1,102 1,652 494 1,080 1,574 Chronic Therapies 1 689 2,041 2,730 675 2,069 2,744 Acute Therapies 1 194 370 564 194 348 542 Kidney Care 883 2,411 3,294 869 2,417 3,286 Other 1 56 17 73 98 31 129 Total Baxter $ 5,183 $ 5,745 $ 10,928 $ 5,170 $ 5,591 $ 10,761 1 In connection with our segment change in the third quarter of 2023, we made the following reclassifications of prior period sales amounts to conform to the current period presentation. We reclassified $16 million of sales from the first half of 2023 and $8 million and $23 million for the three and nine months ended September 30, 2022, respectively, from Chronic Therapies to Acute Therapies. 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 and $8 million and $26 million for the three and nine months ended September 30, 2022, respectively, from BPS to Other (within continuing operations), as the related manufacturing facility was not part of that divestiture transaction. Geographic Sales Information Our net sales are attributed to the following geographic regions based on the location of the customer. Three Months Ended Nine Months Ended 2023 2022 2023 2022 United States $ 1,766 $ 1,758 $ 5,183 $ 5,170 Emerging markets 1 852 820 2,447 2,355 Rest of world 2 1,090 1,031 3,298 3,236 Total Baxter $ 3,708 $ 3,609 $ 10,928 $ 10,761 1 Emerging markets include 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. Segment Operating Income We use segment operating income to evaluate the performance of our segments and to make resource allocation decisions. Segment operating income represents income before income taxes, interest and other non-operating income or expense, unallocated corporate costs, intangible asset amortization and other special items. Special items, which are presented below in our reconciliations of segment operating income to income (loss) from continuing operations before income taxes, are excluded from segment operating income because they are highly variable, difficult to predict and of a size that may substantially impact our reported results of operations for the period. Under our new operating model, most global functional support costs, overhead costs and other shared costs that benefit our segments are allocated to those segments. Corporate costs that are not allocated to our segments, as well as any differences between actual corporate costs and the amounts allocated to our segments, are presented as unallocated corporate costs. The following table presents our segment operating income and reconciliations of segment operating income to income (loss) from continuing operations before income taxes. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Medical Products and Therapies $ 245 $ 257 $ 706 $ 703 Healthcare Systems and Technologies 115 108 327 367 Pharmaceuticals 108 82 284 295 Kidney Care 96 103 208 307 Other 6 17 19 52 Total 570 567 1,544 1,724 Unallocated corporate costs (5) 1 (51) (41) Intangible asset amortization expense (162) (168) (481) (578) Long-lived asset impairments (267) (332) (267) (332) Legal matters (13) — (13) — Goodwill impairments — (2,785) — (2,785) Business optimization items (81) (73) (508) (196) Acquisition and integration items (2) (4) (2) (193) Loss on product divestiture arrangement — (54) — (54) Separation-related costs (77) — (123) — European Medical Devices Regulation (14) (12) (38) (35) Product-related items — (20) — (43) Total operating income (loss) (51) (2,880) 61 (2,533) Interest expense, net 128 104 369 278 Other (income) expense, net (7) 61 33 1 Loss from continuing operations before income taxes $ (172) $ (3,045) $ (341) $ (2,812) Our chief operating decision maker does not receive any asset information by operating segment and, accordingly, we do not report asset information by operating segment.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,508	$ (2,937)	$ 2,411	$ (2,614)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Jeanne Mason [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 6, 2023, Jeanne Mason, our Chief Human Resources Officer, entered into a modification to her existing trading plan for the sale of certain shares of our common stock in connection with the exercise of expiring stock options, which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. As modified, the plan terminates on March 3, 2025. The aggregate number of shares to be sold under the modified plan is 218,731 shares.
Name	Jeanne Mason
Title	Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 6, 2023
Arrangement Duration	544 days
Aggregate Available	218,731	218,731

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The unaudited interim condensed consolidated financial statements of Baxter International Inc. and its subsidiaries (we, our or Baxter) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) in the United States have been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (2022 Annual Report).In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. All such adjustments, unless otherwise noted herein, are of a normal, recurring nature. The results of operations for the current interim period are not necessarily indicative of the results of operations to be expected for the full year.
Risks and Uncertainties	Risks and Uncertainties Supply Constraints and Global Economic Conditions We have experienced significant challenges to our global supply chain in recent periods, including production delays and interruptions, increased costs and shortages of raw materials and component parts (including resins and electromechanical devices) and higher transportation costs, resulting from the pandemic and other exogenous factors including significant weather events, elevated inflation levels, increased interest rates, disruptions to certain ports of call around the world, the wars in Ukraine, Israel and Gaza and other geopolitical events. We expect to experience some of these and other challenges related to our supply chain in future periods. These challenges, including the unavailability of certain raw materials and component parts, have also had a negative impact on our sales for certain product categories due to our inability to fully satisfy demand. While we have seen improvements in the availability of certain component parts and improved pricing in certain raw materials, these challenges have not completely subsided and may continue to have a negative impact on our sales in the future. We expect that the challenges caused by global economic conditions, among other factors, may continue to have an adverse effect on our business.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Results of Discontinued Operations and Assets and Liabilities of Discontinued Operations	The following table summarizes the major classes of line items included in income from discontinued operations, net of tax, for the three and nine months ended September 30, 2023 and 2022: Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Net sales $ 191 $ 164 $ 469 $ 465 Cost of sales 81 76 216 209 Gross margin 110 88 253 256 Selling, general and administrative expenses 15 6 44 17 Research and development expenses 1 1 2 2 Other (income) expense, net 2 2 2 2 Income from discontinued operations before gain on disposition and income taxes 92 79 205 235 Gain on disposition 2,890 — 2,890 — Income tax expense 522 22 536 43 Income from discontinued operations, net of tax $ 2,460 $ 57 $ 2,559 $ 192 The following table summarizes the carrying amounts of the major classes of assets and liabilities classified as discontinued operations in the condensed consolidated balance sheets as of December 31, 2022: (in millions) December 31, Accounts receivable, net of allowances $ 88 Inventories 39 Prepaid expenses and other current assets 59 Property, plant and equipment, net 284 Goodwill 391 Operating lease right-of-use assets 9 Other non-current assets 2 Assets of discontinued operations $ 872 Accounts payable $ 29 Accrued expenses and other current liabilities 32 Operating lease liabilities 9 Other non-current liabilities 111 Liabilities of discontinued operations $ 181

SUPPLEMENTAL FINANCIAL INFORM_2

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The following table is a summary of the changes in our allowance for doubtful accounts for the three and nine months ended September 30, 2023 and 2022. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Balance at beginning of period $ 128 $ 125 $ 114 $ 122 Charged to costs and expenses 4 2 20 11 Write-offs (1) (2) (7) (4) Currency translation adjustments 1 (5) 5 (9) Balance at end of period $ 132 $ 120 $ 132 $ 120
Inventories	Inventories (in millions) September 30, December 31, Raw materials $ 713 $ 698 Work in process 301 294 Finished goods 1,859 1,687 Inventories $ 2,873 $ 2,679
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net (in millions) September 30, December 31, Property, plant and equipment, at cost $ 10,863 $ 10,780 Accumulated depreciation (6,585) (6,085) Property, plant and equipment, net $ 4,278 $ 4,695
Interest Expense, Net	Interest Expense, Net Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Interest expense, net of capitalized interest $ 136 $ 109 $ 395 $ 290 Interest income (8) (5) (26) (12) Interest expense, net $ 128 $ 104 $ 369 $ 278
Other Income, Net	Other (Income) Expense, Net Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Foreign exchange (gains) losses, net $ 13 $ — $ 49 (26) Pension and other postretirement benefit plans (11) (6) (32) (18) Pension curtailment — — — (11) Change in fair value of marketable equity securities (3) 3 3 (5) Reclassification of cumulative translation loss to earnings — 65 — 65 Non-marketable investment impairments — — 23 — Other, net (6) (1) (10) (4) Other (income) expense, net $ (7) $ 61 $ 33 $ 1

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	The following is a reconciliation of goodwill by segment. (in millions) Americas EMEA APAC Medical Products and Therapies Healthcare Systems and Technologies 1 Pharmaceuticals Kidney Care Total Balance as of December 31, 2022 $ 1,965 $ 289 $ 210 $ — $ 3,988 $ — $ — $ 6,452 Currency translation and other (27) (4) (3) (2) (7) (1) (1) (45) Reallocation of goodwill (1,938) (285) (207) 1,195 — 542 693 — Balance as of September 30, 2023 $ — $ — $ — $ 1,193 $ 3,981 $ 541 $ 692 $ 6,407 1 Prior to the third quarter of 2023, our Healthcare Systems and Technologies segment was referred to as our Hillrom segment.
Other Intangible Assets, Net	The following is a summary of our other intangible assets. Indefinite-lived intangible assets (in millions) Customer relationships Developed technology, including patents Other amortized intangible assets Trade names In process Research and Development Total September 30, 2023 Gross other intangible assets $ 3,442 $ 3,778 $ 320 $ 1,571 $ 163 $ 9,274 Accumulated amortization (631) (2,161) (252) — — (3,044) Other intangible assets, net $ 2,811 $ 1,617 $ 68 $ 1,571 $ 163 $ 6,230 December 31, 2022 Gross other intangible assets $ 3,442 $ 3,836 $ 325 $ 1,571 $ 202 $ 9,376 Accumulated amortization (460) (1,888) (235) — — (2,583) Other intangible assets, net $ 2,982 $ 1,948 $ 90 $ 1,571 $ 202 $ 6,793

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Summary of Changes in AOCI by Component	The following table is a net-of-tax summary of the changes in accumulated other comprehensive income (loss) (AOCI) by component for the nine months ended September 30, 2023 and 2022. Gains (losses) (in millions) CTA Pension and OPEB plans Hedging activities Available-for-sale debt securities Total Balance as of December 31, 2022 $ (3,386) $ (331) $ (119) $ 3 $ (3,833) Other comprehensive income (loss) before reclassifications (62) — 15 — (47) Amounts reclassified from AOCI (a) 185 (16) (5) — 164 Net other comprehensive income (loss) 123 (16) 10 — 117 Balance as of September 30, 2023 $ (3,263) $ (347) $ (109) $ 3 $ (3,716) Gains (losses) (in millions) CTA Pension and OPEB plans Hedging activities Available-for-sale debt securities Total Balance as of December 31, 2021 $ (2,907) $ (347) $ (126) $ — $ (3,380) Other comprehensive income (loss) before reclassifications (816) 29 33 2 (752) Amounts reclassified from AOCI (a) 65 19 (6) — 78 Net other comprehensive income (loss) (751) 48 27 2 (674) Balance as of September 30, 2022 $ (3,658) $ (299) $ (99) $ 2 $ (4,054) (a) See table below for details about these reclassifications.
Summary of Reclassification from AOCI to Net Income	The following is a summary of the amounts reclassified from AOCI to net income during the three and nine months ended September 30, 2023 and 2022. Amounts reclassified from AOCI (a) (in millions) Three months ended September 30, 2023 Nine months ended September 30, 2023 Location of impact in income statement CTA Reclassification of cumulative translation loss to earnings from BPS divestiture $ (185) $ (185) Income from discontinued operations, net of tax Less: Tax effect — — Income from discontinued operations, net of tax $ (185) $ (185) Net of tax Pension and OPEB items Amortization of net losses and prior service costs or credits $ 5 $ 15 Other (income) expense, net Pension settlement from BPS divestiture 4 4 Income from discontinued operations, net of tax 9 19 Less: Tax effect — (3) Income tax expense $ 9 $ 16 Net of tax Gains (losses) on hedging activities Foreign exchange contracts $ 3 $ 10 Cost of sales Interest rate contracts (1) (4) Interest expense, net 2 6 Total before tax Less: Tax effect — (1) Income tax expense $ 2 $ 5 Net of tax Total reclassifications for the period $ (174) $ (164) Total net of tax (a) Amounts in parentheses indicate reductions to net income Amounts reclassified from AOCI (a) (in millions) Three months ended September 30, 2022 Nine months ended September 30, 2022 Location of impact in income statement CTA Reclassification of cumulative translation loss to earnings $ (65) $ (65) Other (income) expense, net Less: Tax effect — — Income tax expense $ (65) $ (65) Net of tax Amortization of pension and OPEB items Amortization of net losses and prior service costs or credits $ (8) $ (25) Other (income) expense, net Less: Tax effect 2 6 Income tax expense $ (6) $ (19) Net of tax Gains on hedging activities Foreign exchange contracts $ 6 $ 11 Cost of sales Interest rate contracts (1) (4) Interest expense, net 5 7 Total before tax Less: Tax effect (1) (1) Income tax expense $ 4 $ 6 Net of tax Total reclassifications for the period $ (67) $ (78) Total net of tax

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract with Customer, Contract Asset	The following table summarizes our contract assets: (in millions) September 30, December 31, Contract manufacturing services $ 3 $ 10 Software sales 45 43 Bundled equipment and consumable medical products contracts 114 121 Contract assets $ 162 $ 174 The following table summarizes contract liability activity for the nine months ended September 30, 2023 and 2022. The contract liability balance represents the transaction price allocated to the remaining performance obligations. Nine Months Ended September 30, (in millions) 2023 2022 Balance at beginning of period $ 194 $ 196 New revenue deferrals 491 457 Revenue recognized upon satisfaction of performance obligations (493) (462) Currency translation 3 (3) Balance at end of period $ 195 $ 188 For the nine months ended September 30, 2023 and 2022, $119 million and $99 million of revenue was recognized that was included in contract liabilities as of December 31, 2022 and 2021, respectively. The following table summarizes the classification of contract assets and contract liabilities as reported in the condensed consolidated balance sheets: (in millions) September 30, December 31, Prepaid expenses and other current assets $ 50 $ 52 Other non-current assets 112 122 Contract assets $ 162 $ 174 Accrued expenses and other current liabilities $ 154 $ 154 Other non-current liabilities 41 40 Contract liabilities $ 195 $ 194
Sales-type Lease, Lease Income	The components of lease revenue for the three and nine months ended September 30, 2023 and 2022 were: (in millions) Three months ended September 30, 2023 Nine Months Ended September 30, 2023 Sales-type lease revenue $ 2 $ 9 Operating lease revenue 124 380 Variable lease revenue 12 41 Total lease revenue $ 138 $ 430 (in millions) Three months ended September 30, 2022 Nine months ended September 30, 2022 Sales-type lease revenue $ 3 $ 11 Operating lease revenue 145 380 Variable lease revenue 9 41 Total lease revenue $ 157 $ 432
Operating Lease, Lease Income	The components of lease revenue for the three and nine months ended September 30, 2023 and 2022 were: (in millions) Three months ended September 30, 2023 Nine Months Ended September 30, 2023 Sales-type lease revenue $ 2 $ 9 Operating lease revenue 124 380 Variable lease revenue 12 41 Total lease revenue $ 138 $ 430 (in millions) Three months ended September 30, 2022 Nine months ended September 30, 2022 Sales-type lease revenue $ 3 $ 11 Operating lease revenue 145 380 Variable lease revenue 9 41 Total lease revenue $ 157 $ 432

BUSINESS OPTIMIZATION CHARGES (

BUSINESS OPTIMIZATION CHARGES (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Business Optimization Charges	During the three and nine months ended September 30, 2023 and 2022, we recorded the following charges related to business optimization programs. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Restructuring charges $ 64 $ 57 $ 461 $ 150 Costs to implement business optimization programs 17 16 47 46 Total business optimization charges $ 81 $ 73 $ 508 $ 196
Components of Restructuring Charges	During the three and nine months ended September 30, 2023 and 2022, we recorded the following restructuring charges. Three months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 17 $ 33 $ 5 $ 55 Contract termination and other costs — 2 — 2 Asset impairments 7 — — 7 Total restructuring charges $ 24 $ 35 $ 5 $ 64 Three months ended September 30, 2022 (in millions) COGS SG&A R&D Total Employee termination costs $ 13 $ 36 $ 4 $ 53 Contract termination and other costs — 2 — 2 Asset impairments 1 1 — 2 Total restructuring charges $ 14 $ 39 $ 4 $ 57 Nine months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 43 $ 115 $ 12 $ 170 Contract termination and other costs 3 4 — 7 Asset impairments 276 8 — 284 Total restructuring charges $ 322 $ 127 $ 12 $ 461 Nine months ended September 30, 2022 (in millions) COGS SG&A R&D Total Employee termination costs $ 19 $ 99 $ 4 $ 122 Contract termination and other costs — 19 — 19 Asset impairments 1 8 — 9 Total restructuring charges $ 20 $ 126 $ 4 $ 150
Summary of Activity in Reserves Related to Restructuring Initiatives	The following table summarizes activity in the liability related to our restructuring initiatives. (in millions) Liability balance as of December 31, 2022 $ 107 Charges 189 Payments (108) Reserve adjustments (12) Currency translation (5) Liability balance as of September 30, 2023 $ 171

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Net Periodic Benefit Cost Relating to Pension and Other Postemployment Employee Benefit Plans	The following is a summary of net periodic benefit cost relating to our pension and OPEB plans. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Pension benefits Service cost $ 7 $ 19 $ 20 $ 59 Interest cost 36 25 108 73 Expected return on plan assets (44) (39) (131) (118) Amortization of net losses and prior service costs 1 10 3 33 Net periodic pension cost $ — $ 15 $ — $ 47 OPEB Interest cost $ 2 $ 1 $ 6 $ 3 Amortization of net loss and prior service credit (6) (3) (18) (9) Net periodic OPEB cost (income) $ (4) $ (2) $ (12) $ (6)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) attributable to Stockholder	The following table is a reconciliation of net income (loss) attributable to Baxter stockholders. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Income (loss) from continuing operations $ 51 $ (2,991) $ (142) $ (2,798) Less: Net income attributable to noncontrolling interests 3 3 6 8 Income (loss) from continuing operations attributable to Baxter stockholders 48 (2,994) (148) (2,806) Income from discontinued operations 2,460 57 2,559 192 Net income (loss) attributable to Baxter stockholders $ 2,508 $ (2,937) $ 2,411 $ (2,614)
Reconciliation of Basic Shares to Diluted Shares	The following table is a reconciliation of basic shares and diluted shares. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Basic shares 507 504 506 503 Effect of dilutive securities 2 — — — Diluted shares 509 504 506 503

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Gains and Losses on Derivative Instruments	The following tables summarize the gains and losses on our hedging instruments and the classification of those gains and losses within our condensed consolidated financial statements for the three months ended September 30, 2023 and 2022. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI into income (in millions) 2023 2022 2023 2022 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (1) $ (1) Foreign exchange contracts 9 26 Cost of sales 3 6 Net investment hedges 48 126 Other (income) expense, net — — Total $ 57 $ 152 $ 2 $ 5 Location of gain (loss) in income statement Gain (loss) recognized in income (in millions) 2023 2022 Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net $ 2 $ (11) The following tables summarize the gains and losses on our hedging instruments and the classification of those gains and losses within our condensed consolidated financial statements for the nine months ended September 30, 2023 and 2022. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI (in millions) 2023 2022 2023 2022 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (4) $ (4) Foreign exchange contracts 19 42 Cost of sales 10 11 Net investment hedges 10 311 Other (income) expense, net — — Total $ 29 $ 353 $ 6 $ 7 Location of gain (loss) Gain (loss) recognized in income (in millions) 2023 2022 Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net $ (16) $ (34)
Classification and Fair Values of Derivative Instruments	The following table summarizes the classification and fair values of derivative instruments reported in the condensed consolidated balance sheet as of September 30, 2023. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets $ 13 Accrued expenses and other current liabilities $ 1 Total derivative instruments designated as hedges 13 1 Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets 8 Accrued expenses and other current liabilities 2 Total derivative instruments $ 21 $ 3 The following table summarizes the classification and fair values of derivative instruments reported in the condensed consolidated balance sheet as of December 31, 2022. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets $ 8 Accrued expenses and other current liabilities $ 5 Total derivative instruments designated as hedges 8 5 Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets 6 Accrued expenses and other current liabilities 7 Total derivative instruments $ 14 $ 12
Derivative Positions Presented On Net Basis	The following table provides information on our derivative positions as if they were presented on a net basis, allowing for the right of offset by counterparty. September 30, 2023 December 31, 2022 (in millions) Asset Liability Asset Liability Gross amounts recognized in the condensed consolidated balance sheets $ 21 $ 3 $ 14 $ 12 Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet (1) (1) (4) (4) Total $ 20 $ 2 $ 10 $ 8
Amounts Recorded on Condensed Consolidated Balance Sheet Related to Fair Value Hedges	The following table presents the amounts recorded on the condensed consolidated balance sheet related to fair value hedges: Carrying amount of hedged item Cumulative amount of fair value hedging adjustment included (in millions) Balance as of September 30, 2023 Balance as of December 31, 2022 Balance as of September 30, 2023 Balance as of December 31, 2022 Long-term debt $ 100 $ 101 $ 3 $ 4 (a) These fair value hedges were terminated in 2018 and earlier periods.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis. Basis of fair value measurement (in millions) Balance as of September 30, 2023 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 21 $ — $ 21 $ — Available-for-sale debt securities 39 — — 39 Marketable equity securities 39 39 — — Total $ 99 $ 39 $ 21 $ 39 Liabilities Foreign exchange contracts $ 3 $ — $ 3 $ — Contingent payments related to acquisitions 19 — — 19 Total $ 22 $ — $ 3 $ 19 Basis of fair value measurement (in millions) Balance as of December 31, 2022 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 14 $ — $ 14 $ — Available-for-sale debt securities 47 — — 47 Marketable equity securities 32 32 — — Total $ 93 $ 32 $ 14 $ 47 Liabilities Foreign exchange contracts $ 12 $ — $ 12 $ — Contingent payments related to acquisitions 84 — — 84 Total $ 96 $ — $ 12 $ 84
Reconciliation of Fair Value Measurements that Use Significant Unobservable Inputs	The following table is a reconciliation of recurring fair value measurements that use significant unobservable inputs (Level 3), which consist of contingent payments related to acquisitions and available-for-sale debt securities. Three months ended September 30, 2023 2022 (in millions) Contingent payments related to acquisitions Available-for-sale debt securities Contingent payments related to acquisitions Available-for-sale debt securities Fair value at beginning of period $ 21 $ 37 $ 113 $ 44 Additions — 2 — — Change in fair value recognized in earnings — — (6) — Payments (2) — (17) — Fair value at end of period $ 19 $ 39 $ 90 $ 44 Nine months ended September 30, 2023 2022 (in millions) Contingent payments related to acquisitions Available-for-sale debt securities Contingent payments related to acquisitions Available-for-sale debt securities Fair value at beginning of period $ 84 $ 47 $ 143 $ 30 Additions — 2 — 21 Change in fair value recognized in earnings (14) (5) (34) — Change in fair value recognized in AOCI — — — 3 Transfers out of Level 3 — (5) — (10) Payments (51) — (19) — Fair value at end of period $ 19 $ 39 $ 90 $ 44
Book Values and Fair Values of Financial Instruments	For these financial instruments, the following table provides the values recognized in the condensed consolidated balance sheets and the estimated fair values as of September 30, 2023 and December 31, 2022. Book values Fair values(a) (in millions) 2023 2022 2023 2022 Liabilities Current maturities of long-term debt and finance lease obligations $ 1,912 $ 1,105 $ 1,891 $ 1,079 Long-term debt and finance lease obligations 14,067 15,232 12,462 13,657 (a) These fair value amounts are classified as Level 2 within the fair value hierarchy as they are estimated based on observable inputs.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 2022 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 570 $ 433 $ 1,003 $ 567 $ 389 $ 956 Advanced Surgery 139 116 255 141 106 247 Medical Products and Therapies 709 549 1,258 708 495 1,203 Care and Connectivity Solutions 317 126 443 339 117 456 Front Line Care 234 67 301 209 70 279 Healthcare Systems and Technologies 551 193 744 548 187 735 Injectables and Anesthesia 195 156 351 173 152 325 Drug Compounding — 229 229 — 200 200 Pharmaceuticals 195 385 580 173 352 525 Chronic Therapies 1 233 688 921 236 698 934 Acute Therapies 1 66 122 188 57 109 166 Kidney Care 299 810 1,109 293 807 1,100 Other 1 12 5 17 36 10 46 Total Baxter $ 1,766 $ 1,942 $ 3,708 $ 1,758 $ 1,851 $ 3,609 Nine Months Ended September 30, 2023 2022 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 1,654 $ 1,264 $ 2,918 $ 1,672 $ 1,157 $ 2,829 Advanced Surgery 433 340 773 428 310 738 Medical Products and Therapies 2,087 1,604 3,691 2,100 1,467 3,567 Care and Connectivity Solutions 926 381 1,307 991 359 1,350 Front Line Care 681 230 911 618 237 855 Healthcare Systems and Technologies 1,607 611 2,218 1,609 596 2,205 Injectables and Anesthesia 550 437 987 494 467 961 Drug Compounding — 665 665 — 613 613 Pharmaceuticals 550 1,102 1,652 494 1,080 1,574 Chronic Therapies 1 689 2,041 2,730 675 2,069 2,744 Acute Therapies 1 194 370 564 194 348 542 Kidney Care 883 2,411 3,294 869 2,417 3,286 Other 1 56 17 73 98 31 129 Total Baxter $ 5,183 $ 5,745 $ 10,928 $ 5,170 $ 5,591 $ 10,761 1 In connection with our segment change in the third quarter of 2023, we made the following reclassifications of prior period sales amounts to conform to the current period presentation. We reclassified $16 million of sales from the first half of 2023 and $8 million and $23 million for the three and nine months ended September 30, 2022, respectively, from Chronic Therapies to Acute Therapies. 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 and $8 million and $26 million for the three and nine months ended September 30, 2022, respectively, 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 Nine Months Ended 2023 2022 2023 2022 United States $ 1,766 $ 1,758 $ 5,183 $ 5,170 Emerging markets 1 852 820 2,447 2,355 Rest of world 2 1,090 1,031 3,298 3,236 Total Baxter $ 3,708 $ 3,609 $ 10,928 $ 10,761 1 Emerging markets include 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 (loss) from continuing operations before income taxes. Three months ended Nine months ended (in millions) 2023 2022 2023 2022 Medical Products and Therapies $ 245 $ 257 $ 706 $ 703 Healthcare Systems and Technologies 115 108 327 367 Pharmaceuticals 108 82 284 295 Kidney Care 96 103 208 307 Other 6 17 19 52 Total 570 567 1,544 1,724 Unallocated corporate costs (5) 1 (51) (41) Intangible asset amortization expense (162) (168) (481) (578) Long-lived asset impairments (267) (332) (267) (332) Legal matters (13) — (13) — Goodwill impairments — (2,785) — (2,785) Business optimization items (81) (73) (508) (196) Acquisition and integration items (2) (4) (2) (193) Loss on product divestiture arrangement — (54) — (54) Separation-related costs (77) — (123) — European Medical Devices Regulation (14) (12) (38) (35) Product-related items — (20) — (43) Total operating income (loss) (51) (2,880) 61 (2,533) Interest expense, net 128 104 369 278 Other (income) expense, net (7) 61 33 1 Loss from continuing operations before income taxes $ (172) $ (3,045) $ (341) $ (2,812)

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Millions	Sep. 29, 2023 USD ($)
Discontinued Operations, Disposed of by Sale | BioPharma Solutions
Disclosure Basis Of Presentation Details [Line Items]
Pre-tax cash proceeds	$ 3,960

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 29, 2023	May 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Book value	$ 840
Comprehensive income from discontinued operations			$ 2,621	$ 13	$ 2,740	$ 92
Transaction service agreement, period		24 months
Manufacturing and supply agreement, period		5 years
Discontinued Operations, Disposed of by Sale | BioPharma Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Agreed purchase price	4,250
Pre-tax cash proceeds	3,960
Pre-tax gain on sale	2,890
Net proceeds of sale	2,600
Proceeds from divestiture of businesses	3,910
Transaction costs	47
Comprehensive income from discontinued operations	$ 181
Separation costs			$ 4		$ 19

DISCONTINUED OPERATIONS - Major

DISCONTINUED OPERATIONS - Major Classes of Line Items in Income From Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other (income) expense, net	$ (7)	$ 61	$ 33	$ 1
Income from discontinued operations, net of tax	2,460	57	2,559	192
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	191	164	469	465
Cost of sales	81	76	216	209
Gross margin	110	88	253	256
Selling, general and administrative expenses	15	6	44	17
Research and development expenses	1	1	2	2
Other (income) expense, net	2	2	2	2
Income from discontinued operations before gain on disposition and income taxes	92	79	205	235
Gain on disposition	2,890	0	2,890	0
Income tax expense	522	22	536	43
Income from discontinued operations, net of tax	$ 2,460	$ 57	$ 2,559	$ 192

DISCONTINUED OPERATIONS - Carry

DISCONTINUED OPERATIONS - Carrying Amounts of the Assets and Liabilities Classified As Discontinued Operations (Details) - Discontinued Operations $ in Millions	Dec. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net of allowances	$ 88
Inventories	39
Prepaid expenses and other current assets	59
Property, plant and equipment, net	284
Goodwill	391
Operating lease right-of-use assets	9
Other non-current assets	2
Assets of discontinued operations	872
Accounts payable	29
Accrued expenses and other current liabilities	32
Operating lease liabilities	9
Other non-current liabilities	111
Liabilities of discontinued operations	$ 181

SUPPLEMENTAL FINANCIAL INFORM_3

SUPPLEMENTAL FINANCIAL INFORMATION - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 128	$ 125	$ 114	$ 122
Charged to costs and expenses	4	2	20	11
Write-offs	(1)	(2)	(7)	(4)
Currency translation adjustments	1	(5)	5	(9)
Balance at end of period	$ 132	$ 120	$ 132	$ 120

SUPPLEMENTAL FINANCIAL INFORM_4

SUPPLEMENTAL FINANCIAL INFORMATION - Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 713	$ 698
Work in process	301	294
Finished goods	1,859	1,687
Inventories	$ 2,873	$ 2,679

SUPPLEMENTAL FINANCIAL INFORM_5

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property, plant and equipment, at cost	$ 10,863	$ 10,780
Accumulated depreciation	(6,585)	(6,085)
Property, plant and equipment, net	$ 4,278	$ 4,695

SUPPLEMENTAL FINANCIAL INFORM_6

SUPPLEMENTAL FINANCIAL INFORMATION - Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest Income Expense Net
Interest expense, net of capitalized interest	$ 136	$ 109	$ 395	$ 290
Interest income	(8)	(5)	(26)	(12)
Interest expense, net	$ 128	$ 104	$ 369	$ 278

SUPPLEMENTAL FINANCIAL INFORM_7

SUPPLEMENTAL FINANCIAL INFORMATION - Other (Income) Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Income, net
Foreign exchange (gains) losses, net	$ 13	$ 0	$ 49	$ (26)
Pension and other postretirement benefit plans	(11)	(6)	(32)	(18)
Pension curtailment	0	0	0	(11)
Change in fair value of marketable equity securities	(3)	3	3	(5)
Reclassification of cumulative translation loss to earnings	0	65	0	65
Non-marketable investment impairments	0	0	23	0
Other, net	(6)	(1)	(10)	(4)
Other (income) expense, net	$ (7)	$ 61	$ 33	$ 1

SUPPLEMENTAL FINANCIAL INFORM_8

SUPPLEMENTAL FINANCIAL INFORMATION - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Other long-lived asset impairments	$ 267		$ 461	$ 0
Right-of-use asset obtained in exchange for operating lease liability			$ 73	59
Long-lived asset, discount rate			0.08
Terminal growth rate			0.015
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Capital expenditures incurred but not yet paid			$ 43	$ 65
Manufacturing Facility
Property, Plant and Equipment [Line Items]
Other long-lived asset impairments		$ 243
Manufacturing Equipment
Property, Plant and Equipment [Line Items]
Other long-lived asset impairments	190
Developed technology
Property, Plant and Equipment [Line Items]
Other long-lived asset impairments	$ 77

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 6,452
Currency translation and other	(45)
Reallocation of goodwill	0
Goodwill, ending balance	6,407
Americas
Goodwill [Roll Forward]
Goodwill, beginning balance	1,965
Currency translation and other	(27)
Reallocation of goodwill	(1,938)
Goodwill, ending balance	0
EMEA
Goodwill [Roll Forward]
Goodwill, beginning balance	289
Currency translation and other	(4)
Reallocation of goodwill	(285)
Goodwill, ending balance	0
APAC
Goodwill [Roll Forward]
Goodwill, beginning balance	210
Currency translation and other	(3)
Reallocation of goodwill	(207)
Goodwill, ending balance	0
Medical Products and Therapies
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Currency translation and other	(2)
Reallocation of goodwill	1,195
Goodwill, ending balance	1,193
Healthcare Systems and Technologies
Goodwill [Roll Forward]
Goodwill, beginning balance	3,988
Currency translation and other	(7)
Reallocation of goodwill	0
Goodwill, ending balance	3,981
Pharmaceuticals
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Currency translation and other	(1)
Reallocation of goodwill	542
Goodwill, ending balance	541
Kidney Care
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Currency translation and other	(1)
Reallocation of goodwill	693
Goodwill, ending balance	$ 692

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Additional Information (Details) $ in Millions		3 Months Ended		9 Months Ended
	Dec. 13, 2021 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Intangible asset amortization expense		$ 162	$ 168	$ 481	$ 578
Goodwill		6,407		6,407		$ 6,452
Goodwill impairments		$ 0	2,785	$ 0	$ 2,785
Minimum
Goodwill [Line Items]
Discount rate		9%		9%
Terminal growth rate		0.02		0.02
Maximum
Goodwill [Line Items]
Discount rate		10%		10%
Terminal growth rate		0.03		0.03
Trade names
Goodwill [Line Items]
Indefinite-lived intangible assets, discount rate						0.095
Trade names | Minimum
Goodwill [Line Items]
Indefinite-lived intangible assets, royalty rate						0.03
Indefinite-lived intangible assets, terminal growth rate						0.02
Trade names | Maximum
Goodwill [Line Items]
Indefinite-lived intangible assets, royalty rate						0.05
Indefinite-lived intangible assets, terminal growth rate						0.03
Hillrom [Member]
Goodwill [Line Items]
Goodwill							$ 6,830
Other intangible assets							$ 6,030
Indefinite-lived intangible assets acquired	$ 1,910
Hillrom [Member] | Trade names
Goodwill [Line Items]
Impairment of intangible assets, indefinite-lived			$ 332

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Other Intangible Assets, Net (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets	$ 9,274	$ 9,376
Accumulated amortization	(3,044)	(2,583)
Other intangible assets, net	6,230	6,793
Trade names
Intangible Asset Excluding Goodwill [Line Items]
Indefinite-lived intangible assets	1,571	1,571
In process Research and Development
Intangible Asset Excluding Goodwill [Line Items]
Indefinite-lived intangible assets	163	202
Customer relationships
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	3,442	3,442
Accumulated amortization	(631)	(460)
Other intangible assets, net, finite-lived	2,811	2,982
Developed technology, including patents
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	3,778	3,836
Accumulated amortization	(2,161)	(1,888)
Other intangible assets, net, finite-lived	1,617	1,948
Other amortized intangible assets
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	320	325
Accumulated amortization	(252)	(235)
Other intangible assets, net, finite-lived	$ 68	$ 90

FINANCING ARRANGEMENTS (Details

FINANCING ARRANGEMENTS (Details) € in Millions	1 Months Ended	9 Months Ended		12 Months Ended
	Oct. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2023 EUR (€)
Debt Instrument [Line Items]
Commercial paper, average outstanding		$ 514,000,000		$ 299,000,000
Repayments of debt		353,000,000	$ 953,000,000
Original weighted-average term				32 days
Term Loan
Debt Instrument [Line Items]
Repayments of debt		350,000,000
Term loan facility		$ 2,000,000,000
Term loan facility term (in years)		3 years			3 years
Term Loan | Subsequent Event
Debt Instrument [Line Items]
Repayments of debt	$ 950,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, current borrowing capacity		$ 2,500,000,000			€ 200
Borrowings outstanding		$ 0		$ 0
Commercial Paper
Debt Instrument [Line Items]
Weighted average interest rate		5.53%		4.75%	5.53%
Original weighted-average term		13 days

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) site	Dec. 31, 2022 USD ($)	Mar. 31, 2020 lawsuit
Loss Contingencies [Line Items]
Litigation reserve	$ 33	$ 28
Number of lawsuits | lawsuit			2
Superfund Sites | Environmental Clean-up
Loss Contingencies [Line Items]
Number of sites | site	6
Environmental reserves	$ 16	$ 19

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.29	$ 0.29	$ 0.87	$ 0.86
Purchases of treasury stock (in shares)			0	500,000
Remaining value available under stock repurchase programs	$ 1,300		$ 1,300

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Changes in AOCI by Component (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	$ 5,895	$ 9,121
Other comprehensive income (loss) before reclassifications	(47)	(752)
Amounts reclassified from AOCI	164	78
Net other comprehensive income (loss)	117	(674)
Balance, end of period (in usd)	8,166	5,579
CTA
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	(3,386)	(2,907)
Other comprehensive income (loss) before reclassifications	(62)	(816)
Amounts reclassified from AOCI	185	65
Net other comprehensive income (loss)	123	(751)
Balance, end of period (in usd)	(3,263)	(3,658)
Pension and OPEB plans
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	(331)	(347)
Other comprehensive income (loss) before reclassifications	0	29
Amounts reclassified from AOCI	(16)	19
Net other comprehensive income (loss)	(16)	48
Balance, end of period (in usd)	(347)	(299)
Hedging activities
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	(119)	(126)
Other comprehensive income (loss) before reclassifications	15	33
Amounts reclassified from AOCI	(5)	(6)
Net other comprehensive income (loss)	10	27
Balance, end of period (in usd)	(109)	(99)
Available-for-sale debt securities
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	3	0
Other comprehensive income (loss) before reclassifications	0	2
Amounts reclassified from AOCI	0	0
Net other comprehensive income (loss)	0	2
Balance, end of period (in usd)	3	2
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	(3,833)	(3,380)
Balance, end of period (in usd)	$ (3,716)	$ (4,054)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Amounts Reclassification from AOCI to Net Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income from discontinued operations, net of tax	$ 2,460	$ 57	$ 2,559	$ 192
Other (income) expense, net	7	(61)	(33)	(1)
Income tax expense	223	54	199	14
Cost of sales	(2,591)	(2,564)	(7,425)	(7,083)
Loss from continuing operations before income taxes	(172)	(3,045)	(341)	(2,812)
Net income (loss) attributable to Baxter stockholders	2,508	(2,937)	2,411	(2,614)
Amounts reclassified from AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss) attributable to Baxter stockholders	(174)	(67)	(164)	(78)
Amounts reclassified from AOCI | CTA
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification of cumulative translation loss to earnings from BPS divestiture	(185)		(185)
Less: Tax effect	0		0
Income from discontinued operations, net of tax	(185)		(185)
Other (income) expense, net		(65)		(65)
Income tax expense		0		0
Net income (loss) attributable to Baxter stockholders		(65)		(65)
Amounts reclassified from AOCI | Pension and OPEB items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less: Tax effect	4		4
Other (income) expense, net	5	(8)	15	(25)
Continued operations before tax and discontinued operations net of tax	9		19
Income tax expense	0	2	(3)	6
Net income (loss) attributable to Baxter stockholders	9	(6)	16	(19)
Amounts reclassified from AOCI | Gains (losses) on hedging activities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	0	(1)	(1)	(1)
Loss from continuing operations before income taxes	2	5	6	7
Net income (loss) attributable to Baxter stockholders	2	4	5	6
Amounts reclassified from AOCI | Gains (losses) on hedging activities | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	3	6	10	11
Amounts reclassified from AOCI | Gains (losses) on hedging activities | Interest rate contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	$ (1)	$ (1)	$ (4)	$ (4)

REVENUES - Additional Informati

REVENUES - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Line Items]
Transaction price allocated to remaining performance obligations	$ 7,350
Net trade accounts receivable	2,280		$ 2,340
Revenue recognized upon satisfaction of performance obligations	119	$ 99
Sales-type lease, net of investment in lease	68
Sales-type leases, receivables	$ 7		$ 13	$ 19	$ 19	$ 10
Minimum
Revenue From Contract With Customer [Line Items]
Global payment terms	30 days
Minimum | Software sales
Revenue From Contract With Customer [Line Items]
Revenue recognized contract period	1 year
Minimum | Consumable Medical Products
Revenue From Contract With Customer [Line Items]
Revenue recognized contract period	1 year
Maximum
Revenue From Contract With Customer [Line Items]
Global payment terms	90 days
Maximum | Contract manufacturing services
Revenue From Contract With Customer [Line Items]
Revenue recognized contract period	90 days
Maximum | Software sales
Revenue From Contract With Customer [Line Items]
Revenue recognized contract period	5 years
Maximum | Consumable Medical Products
Revenue From Contract With Customer [Line Items]
Revenue recognized contract period	7 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-10-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	10%
Remaining performance obligations period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	45%
Remaining performance obligations period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	25%
Remaining performance obligations period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	10%
Remaining performance obligations period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	10%
Remaining performance obligations period

REVENUES - Contract Assets and

REVENUES - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue From Contract With Customer [Line Items]
Contract assets	$ 162		$ 174
Contract liabilities	195	$ 188	194
Revenue From Contract With Customer [Roll Forward]
Balance at beginning of period	194	196
New revenue deferrals	491	457
Revenue recognized upon satisfaction of performance obligations	(493)	(462)
Currency translation	3	(3)
Balance at end of period	195	$ 188
Prepaid expenses and other current assets
Revenue From Contract With Customer [Line Items]
Contract assets	50		52
Other non-current assets
Revenue From Contract With Customer [Line Items]
Contract assets	112		122
Accrued expenses and other current liabilities
Revenue From Contract With Customer [Line Items]
Contract liabilities	154		154
Revenue From Contract With Customer [Roll Forward]
Balance at beginning of period	154
Balance at end of period	154
Other non-current liabilities
Revenue From Contract With Customer [Line Items]
Contract liabilities	41		40
Revenue From Contract With Customer [Roll Forward]
Balance at beginning of period	40
Balance at end of period	41
Contract manufacturing services
Revenue From Contract With Customer [Line Items]
Contract assets	3		10
Software sales
Revenue From Contract With Customer [Line Items]
Contract assets	45		43
Bundled equipment and consumable medical products contracts
Revenue From Contract With Customer [Line Items]
Contract assets	$ 114		$ 121

REVENUES - Lease Revenue (Detai

REVENUES - Lease Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Sales-type lease revenue	$ 2	$ 3	$ 9	$ 11
Operating lease revenue	124	145	380	380
Variable lease revenue	12	9	41	41
Total lease revenue	$ 138	$ 157	$ 430	$ 432

BUSINESS OPTIMIZATION CHARGES -

BUSINESS OPTIMIZATION CHARGES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Expected additional pre-tax costs	$ 25		$ 25
Charges	64	$ 57	461	$ 150
Exit Of Manufacturing Facility
Restructuring Cost and Reserve [Line Items]
Charges			253
Employee termination costs
Restructuring Cost and Reserve [Line Items]
Charges	55	53	170	122
Employee termination costs | New Operating Model
Restructuring Cost and Reserve [Line Items]
Charges	14		111
Employee termination costs | Exit Of Manufacturing Facility
Restructuring Cost and Reserve [Line Items]
Charges			10
Contract termination and other costs
Restructuring Cost and Reserve [Line Items]
Charges	2	2	7	19
Asset impairments
Restructuring Cost and Reserve [Line Items]
Charges	$ 7	2	284	9
Asset impairments | Exit Of Manufacturing Facility
Restructuring Cost and Reserve [Line Items]
Charges			$ 243
Hillrom [Member] | Employee termination costs
Restructuring Cost and Reserve [Line Items]
Charges		12		71
Hillrom [Member] | Integration Activities
Restructuring Cost and Reserve [Line Items]
Charges		14		97
Hillrom [Member] | Contract termination and other costs
Restructuring Cost and Reserve [Line Items]
Charges		$ 2		19
Hillrom [Member] | Asset impairments
Restructuring Cost and Reserve [Line Items]
Charges				$ 7

BUSINESS OPTIMIZATION CHARGES_2

BUSINESS OPTIMIZATION CHARGES - Summary of Business Optimization Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 64	$ 57	$ 461	$ 150
Business Optimization Programs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	64	57	461	150
Costs to implement business optimization programs	17	16	47	46
Total business optimization charges	$ 81	$ 73	$ 508	$ 196

BUSINESS OPTIMIZATION CHARGES_3

BUSINESS OPTIMIZATION CHARGES - Components of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 64	$ 57	$ 461	$ 150
COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	24	14	322	20
SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	35	39	127	126
R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5	4	12	4
Employee termination costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	55	53	170	122
Employee termination costs | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	17	13	43	19
Employee termination costs | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	33	36	115	99
Employee termination costs | R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5	4	12	4
Contract termination and other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	2	7	19
Contract termination and other costs | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	3	0
Contract termination and other costs | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	2	4	19
Contract termination and other costs | R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	0
Asset impairments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7	2	284	9
Asset impairments | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7	1	276	1
Asset impairments | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	1	8	8
Asset impairments | R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0	$ 0	$ 0

BUSINESS OPTIMIZATION CHARGES_4

BUSINESS OPTIMIZATION CHARGES - Summary of Activity in Reserves Related to Restructuring Initiatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Reserve [Roll Forward]
Charges	$ 64	$ 57	$ 461	$ 150
Severance and Other Employee Related Costs
Restructuring Reserve [Roll Forward]
Reserve, beginning balance			107
Charges			189
Payments			(108)
Reserve adjustments			(12)
Currency translation			(5)
Reserve, ending balance	$ 171		$ 171

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS - Net Periodic Benefit Cost Relating to Pension and Other Postemployment Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pension benefits
Net periodic benefit cost
Service cost	$ 7	$ 19	$ 20	$ 59
Interest cost	36	25	108	73
Expected return on plan assets	(44)	(39)	(131)	(118)
Amortization of net losses and prior service costs	1	10	3	33
Net periodic pension cost (income)	0	15	0	47
OPEB
Net periodic benefit cost
Interest cost	2	1	6	3
Amortization of net losses and prior service costs	(6)	(3)	(18)	(9)
Net periodic pension cost (income)	$ (4)	$ (2)	$ (12)	$ (6)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	129.70%	1.80%	58.40%	0.50%
U.S. Federal statutory rate			21%
Separation-related income tax costs	$ 13		$ 17
Increase in valuation allowance			$ 30

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Net Income (Loss) Attributable to Stockholder (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ 51	$ (2,991)	$ (142)	$ (2,798)
Net income attributable to noncontrolling interests	3	3	6	8
Income (loss) from continuing operations attributable to Baxter stockholders	48	(2,994)	(148)	(2,806)
Income from discontinued operations, net of tax	2,460	57	2,559	192
Net income (loss) attributable to Baxter stockholders	$ 2,508	$ (2,937)	$ 2,411	$ (2,614)

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Basic Shares to Diluted Shares (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of Basic Shares to Diluted Shares
Basic (in shares)	507	504	506	503
Effect of dilutive securities (in shares)	2	0	0	0
Diluted (in shares)	509	504	506	503

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of EPS (in shares)	18	23	25	23

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details) € in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2019 EUR (€)	May 31, 2017 EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 0	$ 0
Derivative, fair value, terminated	0	0
Derivative, net investment terminated	0	$ 0
Deferred, net after-tax gains on derivative instruments	7,000,000
Undesignated derivative instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	626,000,000		$ 753,000,000
Net investment hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accumulated pre-tax unrealized translation gain in AOCI	105,000,000
1.30% Senior Notes Due May 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Senior notes | €					€ 600
0.4% Senior Notes Due May 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Senior notes | €				€ 750
1.3% Senior Notes Due May 2029
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Senior notes | €				€ 750
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 437,000,000		398,000,000
Maximum length of time hedge in cash flow hedge	12 months
Interest rate contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, fair value, net	$ 0		0
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, fair value, net	$ 0		$ 0

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Gains and Losses on Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge and net investment hedge, gain (loss), before reclassification, tax	$ 57	$ 152	$ 29	$ 353
Other comprehensive income (loss), reclassification adjustment from AOCI, cash flow hedges and net investment hedges, net of tax	2	5	6	7
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), net investment hedge, gain (loss), before reclassification and tax	48	126	10	311
Net Investment Hedging | Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), net investment hedge, gain (loss), before reclassification and tax	0	0	0	0
Interest rate contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification, tax	0	0	0	0
Interest rate contracts | Cash Flow Hedging | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	(1)	(1)	(4)	(4)
Foreign exchange contracts | Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income, undesignated derivative instruments	2	(11)	(16)	(34)
Foreign exchange contracts | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification, tax	9	26	19	42
Foreign exchange contracts | Cash Flow Hedging | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	$ 3	$ 6	$ 10	$ 11

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Classification and Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 21	$ 14
Derivative liability, fair value	3	12
Derivative instruments designated as hedges
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	13	8
Derivative liability, fair value	1	5
Derivative instruments designated as hedges | Foreign exchange contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	13	8
Derivative instruments designated as hedges | Foreign exchange contracts | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	1	5
Undesignated derivative instruments | Foreign exchange contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	8	6
Undesignated derivative instruments | Foreign exchange contracts | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 2	$ 7

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Positions Presented On Net Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Asset
Gross amounts recognized in the condensed consolidated balance sheets	$ 21	$ 14
Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet	(1)	(4)
Derivative asset, fair value, total	20	10
Liability
Gross amounts recognized in the condensed consolidated balance sheets	3	12
Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet	(1)	(4)
Derivative liability, fair value, total	$ 2	$ 8

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Amounts Recorded on Condensed Consolidated Balance Sheet Related to Fair Value Hedges (Details) - Long-term debt - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Carrying amount of hedged item	$ 100	$ 101
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged item	$ 3	$ 4

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Assets
Foreign exchange contracts	$ 21	$ 14
Available-for-sale debt securities	39	47
Marketable equity securities	39	32
Total assets	99	93
Liabilities
Foreign exchange contracts	3	12
Contingent payments related to acquisitions	19	84
Total liabilities	22	96
Quoted prices in active markets for identical assets (Level 1)
Assets
Foreign exchange contracts	0	0
Available-for-sale debt securities	0	0
Marketable equity securities	39	32
Total assets	39	32
Liabilities
Foreign exchange contracts	0	0
Contingent payments related to acquisitions	0	0
Total liabilities	0	0
Significant other observable inputs (Level 2)
Assets
Foreign exchange contracts	21	14
Available-for-sale debt securities	0	0
Marketable equity securities	0	0
Total assets	21	14
Liabilities
Foreign exchange contracts	3	12
Contingent payments related to acquisitions	0	0
Total liabilities	3	12
Significant unobservable inputs (Level 3)
Assets
Foreign exchange contracts	0	0
Available-for-sale debt securities	39	47
Marketable equity securities	0	0
Total assets	39	47
Liabilities
Foreign exchange contracts	0	0
Contingent payments related to acquisitions	19	84
Total liabilities	$ 19	$ 84

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Line Items]
Cash and cash equivalents	$ 5,788		$ 1,601	$ 1,718		$ 5,788	$ 1,601
Impairment of investments without readily determinable value		$ 18
Debt Securities
Fair Value Disclosures [Line Items]
Impairment of convertible debt investment						5
Available-for-sale debt securities
Fair Value Disclosures [Line Items]
Transfers out of Level 3				8	$ 8
Impairment of convertible debt investment	0		$ 0			5	$ 0
Other Assets
Fair Value Disclosures [Line Items]
Other equity investments without readily determinable fair values	74			104		74
Significant other observable inputs (Level 2)
Fair Value Disclosures [Line Items]
Money market funds, at carrying value	$ 4,340			$ 341		$ 4,340

FAIR VALUE MEASUREMENTS - Recon

FAIR VALUE MEASUREMENTS - Reconciliation of Fair Value Measurements that Use Significant Unobservable Inputs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Contingent payments related to acquisitions
Contingent payments related to acquisitions
Fair value at beginning of period	$ 19	$ 90	$ 19	$ 90	$ 21	$ 84	$ 113	$ 143
Additions	0	0	0	0
Change in fair value recognized in earnings	0	(6)	(14)	(34)
Payments	(2)	(17)	(51)	(19)
Change in fair value recognized in AOCI			0	0
Transfers out of Level 3			0	0
Fair value at end of period	19	90	19	90
Available-for-sale debt securities
Available-for-sale debt securities
Fair value at beginning of period	37	44	47	30
Additions	2	0	2	21
Change in fair value recognized in earnings	0	0	(5)	0
Payments	0	0	0	0
Change in fair value recognized in AOCI			0	3
Transfers out of Level 3			(5)	(10)
Fair value at end of period	$ 39	$ 44	$ 39	$ 44

FAIR VALUE MEASUREMENTS - Book

FAIR VALUE MEASUREMENTS - Book Values and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Book values
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Current maturities of long-term debt and finance lease obligations	$ 1,912	$ 1,105
Long-term debt and finance lease obligations	14,067	15,232
Fair values
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Current maturities of long-term debt and finance lease obligations	1,891	1,079
Long-term debt and finance lease obligations	$ 12,462	$ 13,657

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	4

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Financial Information for Our Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 3,708	$ 3,609		$ 10,928	$ 10,761
United States
Segment Reporting Information [Line Items]
Net sales	1,766	1,758		5,183	5,170
International
Segment Reporting Information [Line Items]
Net sales	1,942	1,851		5,745	5,591
BPS | Revision of Prior Period, Adjustment
Segment Reporting Information [Line Items]
Net sales		(8)	$ (2)		(26)
Other | Revision of Prior Period, Adjustment
Segment Reporting Information [Line Items]
Net sales		8	2		26
Operating Segments | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	1,258	1,203		3,691	3,567
Operating Segments | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	744	735		2,218	2,205
Operating Segments | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	580	525		1,652	1,574
Operating Segments | Kidney Care
Segment Reporting Information [Line Items]
Net sales	1,109	1,100		3,294	3,286
Operating Segments | United States | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	709	708		2,087	2,100
Operating Segments | United States | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	551	548		1,607	1,609
Operating Segments | United States | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	195	173		550	494
Operating Segments | United States | Kidney Care
Segment Reporting Information [Line Items]
Net sales	299	293		883	869
Operating Segments | International | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	549	495		1,604	1,467
Operating Segments | International | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	193	187		611	596
Operating Segments | International | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	385	352		1,102	1,080
Operating Segments | International | Kidney Care
Segment Reporting Information [Line Items]
Net sales	810	807		2,411	2,417
Operating Segments | Infusion Therapies and Technologies | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	1,003	956		2,918	2,829
Operating Segments | Infusion Therapies and Technologies | United States | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	570	567		1,654	1,672
Operating Segments | Infusion Therapies and Technologies | International | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	433	389		1,264	1,157
Operating Segments | Advanced Surgery | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	255	247		773	738
Operating Segments | Advanced Surgery | United States | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	139	141		433	428
Operating Segments | Advanced Surgery | International | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	116	106		340	310
Operating Segments | Care and Connectivity Solutions | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	443	456		1,307	1,350
Operating Segments | Care and Connectivity Solutions | United States | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	317	339		926	991
Operating Segments | Care and Connectivity Solutions | International | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	126	117		381	359
Operating Segments | Front Line Care | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	301	279		911	855
Operating Segments | Front Line Care | United States | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	234	209		681	618
Operating Segments | Front Line Care | International | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	67	70		230	237
Operating Segments | Injectables and Anesthesia | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	351	325		987	961
Operating Segments | Injectables and Anesthesia | United States | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	195	173		550	494
Operating Segments | Injectables and Anesthesia | International | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	156	152		437	467
Operating Segments | Drug Compounding | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	229	200		665	613
Operating Segments | Drug Compounding | United States | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	0	0		0	0
Operating Segments | Drug Compounding | International | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	229	200		665	613
Operating Segments | Chronic Renal | Revision of Prior Period, Reclassification, Adjustment
Segment Reporting Information [Line Items]
Net sales		(8)	(16)		(23)
Operating Segments | Chronic Renal | Kidney Care
Segment Reporting Information [Line Items]
Net sales	921	934		2,730	2,744
Operating Segments | Chronic Renal | United States | Kidney Care
Segment Reporting Information [Line Items]
Net sales	233	236		689	675
Operating Segments | Chronic Renal | International | Kidney Care
Segment Reporting Information [Line Items]
Net sales	688	698		2,041	2,069
Operating Segments | Acute Therapies | Revision of Prior Period, Reclassification, Adjustment
Segment Reporting Information [Line Items]
Net sales		8	$ 16		23
Operating Segments | Acute Therapies | Kidney Care
Segment Reporting Information [Line Items]
Net sales	188	166		564	542
Operating Segments | Acute Therapies | United States | Kidney Care
Segment Reporting Information [Line Items]
Net sales	66	57		194	194
Operating Segments | Acute Therapies | International | Kidney Care
Segment Reporting Information [Line Items]
Net sales	122	109		370	348
Other
Segment Reporting Information [Line Items]
Net sales	17	46		73	129
Other | United States
Segment Reporting Information [Line Items]
Net sales	12	36		56	98
Other | International
Segment Reporting Information [Line Items]
Net sales	$ 5	$ 10		$ 17	$ 31

SEGMENT INFORMATION - Revenue r

SEGMENT INFORMATION - Revenue rom External Customers by Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 3,708	$ 3,609	$ 10,928	$ 10,761
United States
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	1,766	1,758	5,183	5,170
Emerging Markets
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	852	820	2,447	2,355
Rest of world
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 1,090	$ 1,031	$ 3,298	$ 3,236

SEGMENT INFORMATION - Operating

SEGMENT INFORMATION - Operating Income to Income Before Income Taxes Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	$ (51)	$ (2,880)	$ 61	$ (2,533)
Intangible asset amortization expense	162	168	481	578
Intangible asset impairments			77	332
Goodwill impairments	0	2,785	0	2,785
Operating income (loss)	(51)	(2,880)	61	(2,533)
Interest expense, net	128	104	369	278
Other (income) expense, net	(7)	61	33	1
Loss from continuing operations before income taxes	(172)	(3,045)	(341)	(2,812)
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	570	567	1,544	1,724
Operating income (loss)	570	567	1,544	1,724
Operating Segments | Medical Products and Therapies
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	245	257	706	703
Operating income (loss)	245	257	706	703
Operating Segments | Healthcare Systems and Technologies
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	115	108	327	367
Operating income (loss)	115	108	327	367
Operating Segments | Pharmaceuticals
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	108	82	284	295
Operating income (loss)	108	82	284	295
Operating Segments | Kidney Care
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	96	103	208	307
Operating income (loss)	96	103	208	307
Operating Segments | Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	6	17	19	52
Operating income (loss)	6	17	19	52
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Unallocated corporate costs	(5)	1	(51)	(41)
Intangible asset amortization expense	(162)	(168)	(481)	(578)
Intangible asset impairments	(267)	(332)	(267)	(332)
Legal matters	(13)	0	(13)	0
Goodwill impairments	0	(2,785)	0	(2,785)
Business optimization items	(81)	(73)	(508)	(196)
Acquisition and integration items	(2)	(4)	(2)	(193)
Loss on product divestiture arrangement	0	(54)	0	(54)
Separation-related costs	(77)	0	(123)	0
European Medical Devices Regulation	(14)	(12)	(38)	(35)
Product-related items	$ 0	$ (20)	$ 0	$ (43)