Baxter International (BAX) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		510,587,581
Amendment Flag	false
Document Fiscal Year Focus	2024
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 | NYSE Chicago
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	BAX (NYSE)
Security Exchange Name	CHX
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, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,420	$ 3,078
Accounts receivable, net of allowances of $65 in 2024 and $62 in 2023	1,729	1,719
Inventories	2,103	1,918
Prepaid expenses and other current assets	720	706
Current assets of discontinued operations	2,892	2,179
Total current assets	8,864	9,600
Property, plant and equipment, net	2,833	2,871
Goodwill	5,783	5,793
Other intangible assets, net	5,449	5,918
Operating lease right-of-use assets	327	336
Other non-current assets	886	809
Non-current assets of discontinued operations	2,534	2,949
Total assets	26,676	28,276
Current liabilities:
Current maturities of long-term debt and finance lease obligations	2,498	2,667
Accounts payable	841	881
Accrued expenses and other current liabilities	1,772	1,915
Current liabilities of discontinued operations	1,089	1,040
Total current liabilities	6,200	6,503
Long-term debt and finance lease obligations, less current portion	10,437	11,089
Operating lease liabilities	259	265
Other non-current liabilities	1,263	1,400
Non-current liabilities of discontinued operations	575	551
Total liabilities	18,734	19,808
Commitments and contingencies
Equity:
Common stock, $1 par value, authorized 2,000,000,000 shares, issued 683,494,944 shares in 2024 and 2023	683	683
Common stock in treasury, at cost, 173,032,822 shares in 2024 and 175,861,893 shares in 2023	(11,084)	(11,230)
Additional contributed capital	6,391	6,389
Retained earnings	15,529	16,114
Accumulated other comprehensive loss	(3,647)	(3,554)
Total Baxter stockholders’ equity	7,872	8,402
Noncontrolling interests	70	66
Total equity	7,942	8,468
Total liabilities and equity	$ 26,676	$ 28,276

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for accounts receivable, current	$ 65	$ 62
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)	173,032,822	175,861,893

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 2,699	$ 2,599	$ 7,883	$ 7,634
Cost of sales	1,666	1,543	4,858	4,584
Gross margin	1,033	1,056	3,025	3,050
Selling, general and administrative expenses	754	744	2,206	2,270
Research and development expenses	129	133	379	391
Other operating income, net	(5)	0	(9)	(14)
Operating income	155	179	449	403
Interest expense, net	87	127	251	367
Other (income) expense, net	1	12	34	(15)
Income from continuing operations before income taxes	69	64	232	21
Income tax expense	8	27	70	59
Income (loss) from continuing operations	61	37	162	(38)
Income (loss) from discontinued operations, net of tax	83	2,474	(290)	2,455
Net income (loss)	144	2,511	(128)	2,417
Net income attributable to noncontrolling interests included in continuing operations	0	0	0	0
Net income attributable to noncontrolling interests included in discontinued operations	4	3	9	6
Less: Comprehensive income attributable to noncontrolling interests	4	3	9	6
Net income (loss) attributable to Baxter stockholders	$ 140	$ 2,508	$ (137)	$ 2,411
Income (loss) from continuing operations per common share
Income from continuing operations per common share, basic (in dollars per share)	$ 0.12	$ 0.07	$ 0.32	$ (0.08)
Income from continuing operations per common share, diluted (in dollars per share)	0.12	0.07	0.32	(0.08)
Income (loss) from discontinued operations per common share
Income from discontinued operations per common share, basic (in dollars per share)	0.15	4.88	(0.59)	4.84
Income from discontinued operations per common share, diluted (in dollars per share)	0.15	4.86	(0.59)	4.84
Income (loss) per common share
Basic (in dollars per share)	0.27	4.95	(0.27)	4.76
Diluted (in dollars per share)	$ 0.27	$ 4.93	$ (0.27)	$ 4.76
Weighted-average number of shares outstanding
Basic (in shares)	510	507	509	506
Diluted (in shares)	512	509	511	506

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Income (loss) from continuing operations	$ 61	$ 37	$ 162	$ (38)
Other comprehensive income (loss) from continuing operations, net of tax:
Currency translation adjustments, net of tax expense (benefit) of ($19) and $12 for the three months ended September 30, 2024 and 2023, respectively, and ($3) and $2 for the nine months ended September 30, 2024 and 2023, respectively.	106	(36)	(61)	(39)
Pension and other postretirement benefits, net of tax expense (benefit) of ($2) and zero for the three months ended September 30, 2024 and 2023, respectively, and zero and ($3) for the nine months ended September 30, 2024 and 2023, respectively.	(6)	(1)	(2)	(11)
Hedging activities, net of tax expense (benefit) of ($3) and $2 for the three months ended September 30, 2024 and 2023, respectively and zero and $3 for the nine months ended September 30, 2024 and 2023, respectively.	(9)	5	2	10
Total other comprehensive income (loss) from continuing operations, net of tax	91	(32)	(61)	(40)
Comprehensive loss from continuing operations	152	5	101	(78)
Income (loss) from discontinued operations, net of tax	83	2,474	(290)	2,455
Currency translation adjustments, net of tax expense (benefit) of $(11) and $(1) for the three months ended September 30, 2024 and 2023, respectively, and $(15) and $(1) for the nine months ended September 30, 2024 and 2023, respectively.	90	134	(35)	162
Pension and other postretirement benefits, net of tax expense (benefit) of zero for the three and nine months ended September 30, 2024 and 2023	0	(4)	(1)	(5)
Total other comprehensive income (loss) from discontinued operations	90	130	(36)	157
Comprehensive income (loss) from discontinued operations	173	2,604	(326)	2,612
Comprehensive income (loss)	325	2,609	(225)	2,534
Less: Comprehensive income attributable to noncontrolling interests	4	3	9	6
Less: Other comprehensive loss attributable to noncontrolling interests	0	0	(4)	0
Comprehensive income (loss) attributable to Baxter stockholders	$ 321	$ 2,606	$ (230)	$ 2,528

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss (unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Currency translation adjustments, tax	$ (19,000,000)	$ 12,000,000	$ (3,000,000)	$ 2,000,000
Pension and other postretirement benefits, tax	(2,000,000)	0	0	(3,000,000)
Hedging activities, tax	(3,000,000)	2,000,000	0	3,000,000
Discontinued operations, currency translation adjustments, net of tax	(11,000,000)	(1,000,000)	(15,000,000)	(1,000,000)
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 loss	Noncontrolling interests
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				179,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net 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				176,000,000
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 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				176,000,000
Balance, beginning of period (in shares) at Dec. 31, 2023			683,000,000
Balance, beginning of period (in usd) at Dec. 31, 2023	$ 8,468	8,402	$ 683	$ (11,230)	6,389	16,114	(3,554)	66
Balance, treasury, beginning period (in shares) at Dec. 31, 2023	175,861,893			176,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (128)	(137)				(137)		9
Other comprehensive income (loss)	(97)	(93)					(93)	(4)
Stock issued under employee benefit plans and other (in shares)				(3,000,000)
Stock issued under employee benefit plans and other	148	148		$ 146	2
Dividends declared on common stock	(448)	(448)				(448)
Change in noncontrolling interests	(1)							(1)
Balance, end of period (in shares) at Sep. 30, 2024			683,000,000
Balance, end of period (in usd) at Sep. 30, 2024	$ 7,942	7,872	$ 683	$ (11,084)	6,391	15,529	(3,647)	70
Balance, treasury, ending period (in shares) at Sep. 30, 2024	173,032,822			173,000,000
Balance, beginning of period (in shares) at Jun. 30, 2024			683,000,000
Balance, beginning of period (in usd) at Jun. 30, 2024	$ 7,708	7,643	$ 683	$ (11,104)	6,353	15,539	(3,828)	65
Balance, treasury, beginning period (in shares) at Jun. 30, 2024				173,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	144	140				140		4
Other comprehensive income (loss)	181	181					181
Stock issued under employee benefit plans and other	58	58		$ 20	38
Dividends declared on common stock	(150)	(150)				(150)
Change in noncontrolling interests	1							1
Balance, end of period (in shares) at Sep. 30, 2024			683,000,000
Balance, end of period (in usd) at Sep. 30, 2024	$ 7,942	$ 7,872	$ 683	$ (11,084)	$ 6,391	$ 15,529	$ (3,647)	$ 70
Balance, treasury, ending period (in shares) at Sep. 30, 2024	173,032,822			173,000,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Cash flows from operations
Net income (loss)		$ (128)	$ 2,417
Less: Income (loss) from discontinued operations, net of tax		(290)	2,455
Income (loss) from continuing operations		162	(38)
Adjustments to reconcile net loss to cash flows from operations:
Depreciation and amortization		752	720
Deferred income taxes		(136)	(239)
Stock compensation		75	90
Net periodic pension and other postretirement costs		(21)	(19)
Other long-lived asset impairments		42	3
Other		20	25
Changes in balance sheet items:
Accounts receivable, net		(17)	52
Inventories		(180)	(120)
Prepaid expenses and other current assets		(61)	(41)
Accounts payable		3	161
Accrued expenses and other current liabilities		(192)	261
Other		(71)	(63)
Cash flows from operations – continuing operations		376	792
Cash flows from operations – discontinued operations		155	403
Cash flows from operations		531	1,195
Cash flows from investing activities
Capital expenditures		(314)	(340)
Acquisitions of developed technology and investments		(9)	(4)
Proceeds from sale of marketable equity securities		34	0
Other investing activities, net		8	19
Cash flows from investing activities - continuing operations		(281)	(325)
Cash flows from investing activities - discontinued operations		(140)	3,768
Cash flows from investing activities		(421)	3,443
Cash flows from financing activities
Repayments of debt		(827)	(353)
Net increases in debt with original maturities of three months or less		0	214
Cash dividends on common stock		(443)	(439)
Proceeds from stock issued under employee benefit plans		63	86
Other financing activities, net		(15)	(62)
Cash flows from financing activities		(1,222)	(554)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash - continuing operations		(45)	(37)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations		39	23
Increase (decrease) in cash, cash equivalents and restricted cash		(1,118)	4,070
Cash, cash equivalents and restricted cash at start of period	[1]	3,198	1,722
Cash, cash equivalents and restricted cash at end of period	[1]	2,080	5,792
Less cash and cash equivalents of discontinued operations		658	72
Cash, cash equivalents and restricted cash		$ 1,422	$ 5,720
[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, 2024, December 31, 2023, and September 30, 2023 (in millions): September 30, 2024 December 31, 2023 September 30, 2023 Cash and cash equivalents $ 1,420 $ 3,078 $ 5,716 Restricted cash included in other non-current assets 2 4 4 Cash, cash equivalents and restricted cash $ 1,422 $ 3,082 $ 5,720

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 1,420	$ 3,078	$ 5,716
Restricted cash included in other non-current assets	2	4	4
Cash, cash equivalents and restricted cash	$ 1,422	$ 3,082	$ 5,720

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
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, 2023 (2023 Annual Report). In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments necessary for a fair statement 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 disclosures presented in our notes to the consolidated financial statements are presented on a continuing operations basis. 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. On August 12, 2024, we entered into an Equity Purchase Agreement (EPA) with certain affiliates of Carlyle Group Inc. (Carlyle) to sell our Kidney Care business, which will be known as Vantive, for an aggregate purchase price of $3.80 billion. After giving effect to certain closing adjustments, we currently expect to receive approximately $3.50 billion in cash with net after-tax proceeds currently estimated to be in the range of $3.15 billion to $3.25 billion. The transaction is currently expected to close in late 2024 or early 2025, subject to the receipt of customary regulatory approvals and satisfaction of other closing conditions. We determined that our Kidney Care business met the criteria to be classified as held-for-sale in August 2024, and we also concluded that it met the conditions to be reported as a discontinued operation at that time. Accordingly, our Kidney Care business is reported in discontinued operations in the accompanying condensed consolidated financial statements, and our prior period results have been adjusted to reflect discontinued operations presentation. See Note 2 for additional information. Hurricane Helene In September 2024, Hurricane Helene, which brought significant rain and extensive flooding to Western North Carolina, caused damage to certain of our assets at our North Cove facility in Marion, N.C. and disrupted operations at that facility. We are actively working with customers, regulators and other stakeholders to manage inventory and minimize disruption to patient care as we work to fully restore our North Cove manufacturing operations. Our insurance policies generally cover the repair or replacement of our assets that suffer loss or damage, less applicable deductibles and subject to any coverage limits and exclusions, and we are working closely with our insurance carriers and claims adjusters to ascertain the full amount of insurance proceeds due to us as a result of the damages and the loss we suffered as a result of Hurricane Helene (which proceeds are likely to be less than the applicable losses). Our insurance policies also provide coverage for interruption to our business, including lost profits, and reimbursement for other expenses and costs that have been incurred relating to the damages and losses suffered. In the third quarter of 2024, we recorded $25 million of pre-tax net charges related to damages caused by Hurricane Helene. This consisted of $44 million related to the write-off of damaged inventory and fixed assets offset by a receivable of $19 million, which is the amount of the loss, net of our insurance deductible, related to insurance recoveries expected as a result of those asset write-offs. These amounts were recorded as a component of cost of sales in the condensed consolidated statements of income for the three and nine month periods ended September 30, 2024. At this time, the full amount of combined property damage and business interruption costs cannot be estimated and any additional insurance recoveries are not realizable, and accordingly, no additional amounts have been recorded as of September 30, 2024. On November 1, 2024, we received $101 million of cash related to insurance proceeds which included recoveries for expenses incurred after the balance sheet date. We expect to receive additional related insurance proceeds in the future. Risks and Uncertainties Supply Constraints and Global Economic Conditions In recent years, we have experienced significant challenges to our global supply chain, including production delays and interruptions, increased costs and shortages of raw materials and component parts (including resins and electromechanical devices), higher transportation costs, adverse impacts from significant weather events (including Hurricane Helene and the flooding of our North Cove facility), elevated inflation levels and interest rates, disruptions to certain ports of call and access to shipping lanes around the world, the war in Ukraine, the conflict in the Middle East, tensions amongst China, Taiwan, and the U.S., and other geopolitical events. While we have seen improvements in the availability of component parts and improved pricing of raw materials and on transportation costs, some of these challenges (such as additional transportation costs resulting from Hurricane Helene as we transfer product across our global network in the interest of increasing the availability of intravenous and peritoneal dialysis solutions for our customers while we work to fully remediate our North Cove facility) are expected to have a negative impact on our results of operations in the future.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS 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. The condensed consolidated financial statements reflect discontinued operations presentation for two strategic actions, as described below. Discontinued Operations - Kidney Care On August 12, 2024, we entered into an EPA to sell our Kidney Care business, subject to receipt of customary regulatory approvals and satisfaction of other closing conditions. That business, which is comprised of our Kidney Care segment, provides chronic and acute dialysis therapies and services, including peritoneal dialysis, hemodialysis, continuous renal replacement therapies, and other organ support therapies. Pursuant to the EPA, we expect to sell the Kidney Care business to Carlyle for an aggregate purchase price of $3.80 billion. After giving effect to certain adjustments, we currently expect to receive approximately $3.50 billion of net pre-tax cash proceeds (approximately $3.15 billion to $3.25 billion after tax). The transaction is currently expected to close in late 2024 or early 2025, subject to receipt of customary regulatory approvals and satisfaction of other closing conditions. We intend to use the net after-tax proceeds from this transaction to repay certain of our debt obligations, consistent with our stated capital allocation priorities. We concluded that our Kidney Care business met the criteria to be classified as held-for-sale in August 2024. We analyzed the quantitative and qualitative factors relevant to the pending sale of our Kidney Care business, including its significance to our overall net income (loss), earnings (loss) per share, and net assets, 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 are reported as discontinued operations in the accompanying condensed consolidated financial statements. Prior period amounts have been adjusted to reflect discontinued operations presentation. Upon closing of the pending sale of the Kidney Care business, Baxter and Vantive will enter into several agreements, including a Manufacturing and Supply Agreement (Kidney Care MSA), a long-term Master Services Agreement, a Distribution Agreement, a Transition Services Agreement (Kidney Care TSA), and an Intellectual Property Agreement. Pursuant to the Kidney Care MSA, Baxter and the Kidney Care divested entities will provide each other with certain dialysis-related products, other products, product components and fulfillment services for a period up to 10 years post-closing (with certain extension rights as provided therein). Pursuant to the Kidney Care TSA, Baxter and the entities that will be divested in connection with the pending Kidney Care sale (the Kidney Care divested entities) will provide each other, on an interim basis, certain transitional services for up to 30 months post-closing (with certain extension rights as provided therein) to help ensure business continuity and help minimize disruptions to the entities' operations post-closing. Services to be provided under the TSA include IT, supply chain and certain other corporate and administrative services. Pursuant to the EPA, Baxter will retain (i) the manufacture and sale of saline solutions and (ii) the plastics operations of Baxter and its subsidiaries at its Mountain Home, Arkansas facility, which is not part of the Kidney Care segment. Discontinued Operations - BioPharma Solutions On September 29, 2023, we sold our BioPharma Solutions (BPS) business to Advent International and Warburg Pincus (collectively, the BPS buyers). The BPS business, which was historically reported within our former Americas segment, provided 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 BPS divested entities). We concluded that our BPS business met the criteria to be classified as held-for-sale in May 2023. We analyzed the quantitative and qualitative factors relevant to the divestiture of our BPS business, including its significance to our overall net income and earnings 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 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 entered into a Transition Services Agreement (BPS TSA) and a Master Commercial Manufacturing and Supply Agreement (BPS MSA) with the divested entities. Pursuant to the BPS TSA, Baxter and the BPS divested entities 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 provided under the BPS TSA include finance, information technology, human resources, integrated supply chain, and certain other administrative services. Pursuant to the BPS MSA, the BPS divested entities 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 tables summarize the major classes of line items included in income (loss) from discontinued operations, net of tax, for the three and nine months ended September 30, 2024 and 2023: Kidney Care BioPharma Solutions Total Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, (in millions) 2024 2023 2024 2023 2024 2023 Net sales $ 1,155 $ 1,109 $ — $ 191 $ 1,155 $ 1,300 Cost of sales 731 1,048 — 81 731 1,129 Gross margin 424 61 — 110 424 171 Selling, general and administrative expenses 278 258 — 15 278 273 Research and development expenses 41 33 — 1 41 34 Other operating income, net (1) — — — (1) — Operating income (loss) 106 (230) — 94 106 (136) Interest expense, net 1 1 — — 1 1 Other (income) expense, net (8) 5 — 2 (8) 7 Income (loss) from discontinued operations before gain on disposition and income taxes 113 (236) — 92 113 (144) Gain on disposition — — — 2,890 — 2,890 Income tax expense (benefit) 30 (250) — 522 30 272 Income from discontinued operations, net of tax 83 14 — 2,460 83 2,474 Less: Net income attributable to noncontrolling interest included in discontinued operations 4 3 — — 4 3 Net income attributable to Baxter stockholders included in discontinued operations $ 79 $ 11 $ — $ 2,460 $ 79 $ 2,471 Kidney Care BioPharma Solutions Total Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 2024 2023 Net sales $ 3,375 $ 3,294 $ — $ 469 $ 3,375 $ 3,763 Cost of sales 2,125 2,841 — 216 2,125 3,057 Gross margin 1,250 453 — 253 1,250 706 Selling, general and administrative expenses 874 691 — 44 874 735 Research and development expenses 140 104 — 2 140 106 Goodwill impairment 430 — — — 430 — Other operating income, net (1) — — — (1) — Operating income (loss) (193) (342) — 207 (193) (135) Interest expense, net — 2 — — — 2 Other (income) expense, net (2) 18 — 2 (2) 20 Income (loss) from discontinued operations before income taxes (191) (362) — 205 (191) (157) Gain on disposition — — — 2,890 — 2,890 Income tax expense (benefit) 99 (258) — 536 99 278 Income (loss) from discontinued operations, net of tax (290) (104) — 2,559 (290) 2,455 Less: Net income attributable to noncontrolling interests included in discontinued operations 9 6 — — 9 6 Net income (loss) attributable to Baxter stockholders included in discontinued operations $ (299) $ (110) $ — $ 2,559 $ (299) $ 2,449 For the three and nine months ended September 30, 2024, selling, general and administrative expenses (SG&A) includes $69 million and $236 million, respectively, of separation-related costs incurred in connection with the pending sale of our Kidney Care business. For the three months ended September 30, 2023, SG&A includes separation-related costs of $67 million and $8 million, incurred in connection with the pending sale of our Kidney Care business and the sale of BPS, respectively. For the nine months ended September 30, 2023, SG&A includes separation-related costs of $108 million and $15 million, incurred in connection with the pending sale of our Kidney Care business and the sale of BPS, respectively. The following table summarizes the carrying amounts of the major classes of assets and liabilities classified as discontinued operations, related to our Kidney Care business, in the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023: (in millions) September 30, 2024 December 31, 2023 Cash and cash equivalents $ 658 $ 116 Accounts receivable, net of allowances 1,045 971 Inventories 960 906 Prepaid expenses and other current assets 229 186 Current assets of discontinued operations 2,892 2,179 Property, plant and equipment, net 1,542 1,562 Goodwill 276 721 Other intangible assets, net 147 161 Operating lease right-of-use assets 209 188 Other non-current assets 360 317 Non-current assets of discontinued operations 2,534 2,949 Assets of discontinued operations $ 5,426 $ 5,128 Current maturities of finance lease obligations $ — $ 1 Accounts payable 396 360 Accrued expenses and other current liabilities 693 679 Current liabilities of discontinued operations 1,089 1,040 Long-term finance lease obligations, less current portion 40 41 Operating lease liabilities 186 173 Other non-current liabilities 349 337 Non-current liabilities of discontinued operations 575 551 Liabilities of discontinued operations $ 1,664 $ 1,591

SUPPLEMENTAL FINANCIAL INFORMAT

SUPPLEMENTAL FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Balance at beginning of period $ 67 $ 61 $ 62 $ 50 Charged to costs and expenses 4 2 4 17 Write-offs (3) 1 (6) (2) Currency translation adjustments (3) 2 5 1 Balance at end of period $ 65 $ 66 $ 65 $ 66 Inventories (in millions) September 30, December 31, Raw materials $ 532 $ 530 Work in process 256 234 Finished goods 1,315 1,154 Inventories $ 2,103 $ 1,918 Property, Plant and Equipment, Net (in millions) September 30, December 31, Property, plant and equipment, at cost $ 7,605 $ 7,650 Accumulated depreciation (4,772) (4,779) Property, plant and equipment, net $ 2,833 $ 2,871 Interest Expense, Net Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Interest expense, net of capitalized interest $ 101 $ 136 $ 308 $ 394 Interest income (14) (9) (57) (27) Interest expense, net $ 87 $ 127 $ 251 $ 367 Other (Income) Expense, Net Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Foreign exchange losses, net $ 7 $ 10 $ 21 49 Pension and other postretirement benefit plans (9) (15) (34) (37) Change in fair value of marketable equity securities — (3) (3) 3 Non-marketable investment impairments — — — 13 Other, net 1 (4) (18) (13) Other (income) expense, net $ (1) $ (12) $ (34) $ 15 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, 2024 and 2023 were $54 million and $55 million, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2024
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) Medical Products and Therapies Healthcare Systems and Technologies Pharmaceuticals Total Balance as of December 31, 2023 $ 1,241 $ 3,989 $ 563 $ 5,793 Currency translation (7) — (3) (10) Balance as of September 30, 2024 $ 1,234 $ 3,989 $ 560 $ 5,783 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 Trade names Other amortized intangible assets Trade names In process Research and Development Total September 30, 2024 Gross other intangible assets $ 3,390 $ 3,182 $ 963 $ 87 $ 680 $ 157 $ 8,459 Accumulated amortization (824) (2,027) (92) (67) — — (3,010) Other intangible assets, net $ 2,566 $ 1,155 $ 871 $ 20 $ 680 $ 157 $ 5,449 December 31, 2023 Gross other intangible assets $ 3,390 $ 3,181 $ 964 $ 86 $ 680 $ 157 $ 8,458 Accumulated amortization (654) (1,782) (38) (66) — — (2,540) Other intangible assets, net $ 2,736 1,399 926 20 680 157 5,918

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS Credit Facilities On July 17, 2024, we entered into a credit agreement in which a group of banks have committed to provide us senior unsecured term loans in an aggregate principal amount of up to $2.05 billion ("the bridge facility"). Borrowings under the bridge facility will be available in up to three drawings to fund (a) the refinancing of our 1.322% Senior Notes due November 29, 2024, our Floating Rate Notes due November 29, 2024, and certain borrowings under our existing term loan facility and (b) payment of certain U.S. tax liabilities arising from internal reorganization transactions related to the pending sale of our Kidney Care business. Borrowings under the bridge facility will bear interest at a rate based on our long-term debt ratings in effect from time to time and the interest rate on any borrowings outstanding beyond December 31, 2024 would increase by 0.25%. We will also incur a ticking fee on undrawn commitments at a rate based on our long-term debt ratings in effect from time to time. The banks’ funding commitments under the bridge facility will terminate upon the earliest to occur of: (i) our consummation of the debt repayments and tax payments described above without us having borrowed under the bridge facility, (ii) our election to terminate the commitments under the bridge facility, (iii) our receipt of net cash proceeds from certain transactions (including from the pending sale of our Kidney Care business), (iv) the occurrence of three drawings under the bridge facility, and (v) December 31, 2024. Outstanding borrowings under the bridge facility will mature on the earlier of 364 days from the first funding date and November 24, 2025. Additionally, we are required to use the net cash proceeds from certain transactions (including from the pending sale of our Kidney Care business) to repay any outstanding borrowings under the bridge facility. The bridge facility contains financial and other covenants, including a net leverage covenant, and provides for customary events of default. There were no borrowings outstanding under this bridge facility as of September 30, 2024. In the first quarter of 2024, 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 to increase the maximum net leverage ratio covenant for the six fiscal quarters ending June 30, 2024, September 30, 2024, December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025. The amendment further provided for the reduction of the capacity under our U.S dollar-denominated revolving credit facility from $2.50 billion to $2.00 billion on the earlier of September 30, 2024 or the date of the sale of our Kidney Care business. Costs incurred in connection with the amendment were not material. In addition to our U.S. dollar-denominated revolving credit facility with a current capacity of $2.00 billion, 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, 2024 or December 31, 2023. 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, 2024 we have capacity to draw on the full amounts under our credit facilities. I n the first nine months of 2024, we repaid $822 million of senior notes at maturity.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are involved in product liability, patent, commercial, employment 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, 2024 and December 31, 2023, our total recorded reserves with respect to legal and environmental matters were $41 million and $25 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. Additionally, we are a defendant in a separate matter regarding a seventh Superfund site. 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, 2024 and December 31, 2023, our environmental reserves, which are measured on an undiscounted basis, were $30 million and $15 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 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 an 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 an 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. Since December 2023, 25 lawsuits (after giving effect to the amendment referenced below) have been filed against us in the Circuit Court of Cook County, Illinois by plaintiffs alleging injuries as a result of exposure to ethylene oxide used by several companies, including historic use by us for sterilization at our facility in Round Lake, Illinois. The plaintiffs seek damages in an unspecified amount. On July 16, 2024, Plaintiffs' counsel filed an omnibus motion seeking leave to add certain defendants to hundreds of previously-filed lawsuits, including Baxter with respect to 40 cases. The motion was denied on July 25, 2024, without prejudice to refiling multiple motions each addressing smaller groupings of cases and defendants. On September 11, 2024, the court granted leave to amend one previously-filed complaint to add Baxter as a defendant. 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. The subpoena was related to a lawsuit brought under the qui tam provisions of the False Claims Act. The allegations included in the unsealed complaint relate to conduct prior to our acquisition of Hillrom, and the division involved is no longer operational. Hillrom voluntarily began a related internal review, and Hillrom and Baxter cooperated fully with the DHHS and the Department of Justice (DOJ) with respect to this matter. In January 2024, the parties reached an agreement to settle the allegations. We paid the settlement amounts, which were not material to our financial results, in January 2024 and the matter was dismissed in February 2024. 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. In October 2024, the DOJ issued a subpoena (2024 Subpoena), pursuant to 18 U.S.C. 3846, to Hillrom. The 2024 Subpoena substantially overlaps with the CID and requests additional documents relating to Hillrom's respiratory health business. Baxter is cooperating fully with the DOJ in responding to the CID and the 2024 Subpoena. The DHHS and DOJ often issue these types of requests when investigating alleged violations of the federal health care laws. 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 and 2 of The Sherman Antitrust Act of 1890, Section 3 of the Clayton Act, 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, which was denied on January 17, 2024, subject to further discovery. On June 20, 2024, Reading Hospital filed a putative class action complaint against Hill-Rom Holdings, Inc., Hill-Rom Company, Inc., and Hill-Rom Services, Inc. in the United States District Court for the Eastern District of Pennsylvania. The complaint alleges that Hillrom violated Sections 1 and 2 of The Sherman Antitrust Act and Section 3 of the Clayton Act by allegedly engaging in anti-competitive conduct in alleged markets for standard, ICU and birthing beds. The plaintiff filed the action on behalf of itself and all "direct purchasers of Standard Hospital Beds, ICU Beds, and/or Birthing Beds from Hill-Rom during a period beginning at least as early as June 20, 2020” and continuing past the date of filing. On September 30, 2024, the plaintiff filed a First Amended Complaint.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Cash Dividends Cash dividends declared per share for the three months ended September 30, 2024 and 2023 were $0.29 and for the nine months ended September 30, 2024 and 2023 were $0.87. Stock Repurchase Programs

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023. Gains (losses) (in millions) CTA Pension and OPEB plans Hedging activities Available-for-sale debt securities Total Balance as of December 31, 2023 $ (2,985) $ (452) $ (120) $ 3 $ (3,554) Other comprehensive income (loss) before reclassifications (92) — 2 — (90) Amounts reclassified from AOCI (a) — (3) — — (3) Net other comprehensive income (loss) (92) (3) 2 — (93) Balance as of September 30, 2024 $ (3,077) $ (455) $ (118) $ 3 $ (3,647) 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) (a) See table below for details about these reclassifications. The following is a summary of the amounts reclassified from AOCI to net income (loss) during the three and nine months ended September 30, 2024 and 2023. Amounts reclassified from AOCI (a) (in millions) Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Location of impact in income statement Pension and OPEB items Amortization of net losses and prior service costs or credits $ 1 $ 4 Other (income) expense, net Less: Tax effect — (1) Income tax expense $ 1 $ 3 Net of tax Gains (losses) on hedging activities Foreign exchange contracts $ 4 $ 9 Cost of sales Interest rate contracts (1) (4) Interest expense, net Fair value hedges — (5) Other (income) expense, net 3 — Total before tax Less: Tax effect (1) — Income tax expense $ 2 $ — Net of tax Total reclassifications for the period $ 3 $ 3 Total net of tax 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 Total before tax 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

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2024
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. Our primary customers are hospitals, healthcare distribution companies, and government agencies that purchase healthcare products on behalf of providers. 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 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, we lease medical equipment to customers under operating lease arrangements and recognize the related revenues on a monthly basis over the lease term. Our Healthcare Systems and Technologies segment includes connected care solutions and collaboration tools that are implemented over time. 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. We also earn revenue from contract manufacturing activities, which is recognized over time as the services are performed. 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, 2024, we had $2.75 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 Products and Therapies segment. 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 25% of this amount as revenue over the remainder of 2024, 25% in 2025, 20% in each of 2026 and 2027 and 10% thereafter. Significant Judgments Revenues from product sales are recorded at the net sales price, which include 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 as reductions of 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, 2024 and 2023 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 $1.54 billion as of September 30, 2024 and December 31, 2023. 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 contracts involving equipment delivered up-front and consumable medical products to be delivered over time, total contract revenue is allocated between the equipment and consumable medical products. In certain of those arrangements, a contract asset is created for the difference between the amount of equipment revenue recognized upon delivery and the amount of consideration initially receivable from the customer. In those arrangements, the contract asset becomes a trade account receivable as consumable medical products are delivered and billed, generally over one The following table summarizes our contract assets: (in millions) September 30, December 31, Contract manufacturing services $ 4 $ 4 Software sales 46 45 Bundled equipment and consumable medical products contracts 95 116 Contract assets $ 145 $ 165 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, 2024 and 2023. The contract liability balance represents the transaction price allocated to the remaining performance obligations. Nine Months Ended September 30, (in millions) 2024 2023 Balance at beginning of period $ 169 $ 173 New revenue deferrals 383 401 Revenue recognized upon satisfaction of performance obligations (389) (407) Currency translation (3) 2 Balance at end of period $ 160 $ 169 For the nine months ended September 30, 2024 and 2023, $94 million and $111 million of revenue was recognized that was included in contract liabilities as of December 31, 2023 and 2022, 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 $ 54 $ 53 Other non-current assets 91 112 Contract assets $ 145 $ 165 Accrued expenses and other current liabilities $ 124 $ 128 Other non-current liabilities 36 41 Contract liabilities $ 160 $ 169 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 and infusion pumps, to customers, often in conjunction with arrangements to provide consumable medical products such as 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, 2024 and 2023 were: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Sales-type lease revenue $ 3 $ 2 $ 8 $ 6 Operating lease revenue 102 98 288 302 Variable lease revenue 10 3 22 15 Total lease revenue $ 115 $ 103 $ 318 $ 323 Our net investment in sales-type leases was $36 million as of September 30, 2024, of which $5 million originated in 2020 and prior, $10 million in 2021, $5 million in 2022, $7 million in 2023, and $9 million in 2024.

BUSINESS OPTIMIZATION CHARGES

BUSINESS OPTIMIZATION CHARGES	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
BUSINESS OPTIMIZATION CHARGES	BUSINESS OPTIMIZATION CHARGES In 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 the implementation of business optimization programs, of approximately $5 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 (including after completion of the pending Kidney Care sale), 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, 2024 and 2023, we recorded the following charges related to business optimization programs. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Restructuring charges $ 15 $ 41 $ 36 $ 140 Costs to implement business optimization programs 3 7 13 27 Total business optimization charges $ 18 $ 48 $ 49 $ 167 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, 2024 and 2023, 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, 2024 and 2023, we recorded the following restructuring charges. Three months ended September 30, 2024 (in millions) COGS SG&A Total Employee termination costs $ 2 $ 10 $ 12 Contract termination and other costs — 3 3 Total restructuring charges $ 2 $ 13 $ 15 Three months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 6 $ 29 $ 4 $ 39 Contract termination and other costs — 2 — 2 Total restructuring charges $ 6 $ 31 $ 4 $ 41 Nine months ended September 30, 2024 (in millions) COGS SG&A Total Employee termination costs $ 4 $ 25 $ 29 Contract termination and other costs 1 6 7 Total restructuring charges $ 5 $ 31 $ 36 Nine months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 25 $ 89 $ 10 $ 124 Contract termination and other costs — 5 — 5 Asset impairments 3 8 — 11 Total restructuring charges $ 28 $ 102 $ 10 $ 140 For the three and nine months ended September 30, 2024, $7 million and $14 million of the restructuring charges reflected in the table above, consisting of employee termination costs, were related to business optimization initiatives within our Healthcare Systems and Technologies segment. Additionally, for the nine months ended September 30, 2024, $7 million of the restructuring charges reflected in the table above, consisting of employee termination costs, were related to our recent implementation of a new operating model intended to simplify and streamline our operations. For the three and nine months ended September 30, 2023, $11 million and $79 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. The following table summarizes activity in the liability related to our restructuring initiatives. (in millions) Liability balance as of December 31, 2023 $ 95 Charges 42 Payments (59) Reserve adjustments (8) Currency translation 4 Liability balance as of September 30, 2024 $ 74 Substantially all of our restructuring liabilities as of September 30, 2024 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 2025.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS	9 Months Ended
	Sep. 30, 2024
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 September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Pension benefits Service cost $ 4 $ 6 $ 13 $ 18 Interest cost 33 45 123 137 Expected return on plan assets (43) (57) (160) (166) Amortization of net losses and prior service costs 4 1 11 4 Net periodic pension cost $ (2) $ (5) $ (13) $ (7) OPEB Interest cost $ 2 $ 2 $ 6 $ 6 Amortization of net loss and prior service credit (5) (6) (14) (18) Net periodic OPEB cost (income) $ (3) $ (4) $ (8) $ (12)

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective income tax rate was 11.6% and 42.2% for the three months ended September 30, 2024 and 2023, respectively, and 30.2% and 281.0% for the nine months ended September 30, 2024 and 2023, respectively. Our effective income tax rate can differ from the 21% 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. For the three months ended September 30, 2024, the difference between our effective income tax rate and the U.S. federal statutory rate was primarily attributable to a favorable geographic earnings mix, the tax impacts of the write-off of damaged inventory and fixed assets at our North Cove facility caused by Hurricane Helene, and a change in our assertion on the reinvested foreign earnings related to the pending sale of our Kidney Care segment allocated to continuing operations, partially offset by a $26 million valuation allowance recorded to reduce the carrying amount of a tax attribute carryforward in the U.S. related to the pending sale of our Kidney Care segment. For the nine months ended September 30, 2024, the difference between our effective income tax rate and the U.S. federal statutory rate was primarily attributable to a $26 million valuation allowance recorded to reduce the carrying amount of a tax attribute carryforward in the U.S. related to the pending sale of our Kidney Care segment, an increase in a valuation allowance in a foreign jurisdiction resulting from changes in future projected income, an increase in income tax expense resulting from internal reorganization transactions related to the pending sale of our Kidney Care segment, and an increase in our liabilities for various uncertain tax positions, partially offset by a favorable geographic earnings mix. For the three months ended September 30, 2023, the difference between our effective income tax rate and the U.S. federal statutory rate was primarily attributable to an increase in the valuation allowance in a foreign jurisdiction resulting from changes in future projected income, partially offset by a favorable geographic earnings mix. For the nine

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2024
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 income (loss) from continuing operations to net income (loss) attributable to Baxter stockholders. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Income (loss) from continuing operations $ 61 $ 37 $ 162 $ (38) Less: Net income attributable to noncontrolling interests included in continuing operations — — — — Income (loss) from continuing operations attributable to Baxter stockholders 61 37 162 (38) Income (loss) from discontinued operations 83 2,474 (290) 2,455 Less: Net income attributable to noncontrolling interests included in discontinued operations 4 3 9 6 Income (loss) from discontinued operations attributable to Baxter stockholders 79 2,471 (299) 2,449 Net income (loss) attributable to Baxter stockholders $ 140 $ 2,508 $ (137) $ 2,411 The following table is a reconciliation of basic shares and diluted shares. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Basic shares 510 507 509 506 Effect of dilutive securities 2 2 2 — Diluted shares 512 509 511 506 Basic and diluted shares are the same for nine months ended September 30, 2023

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2024
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, British Pound, Chinese Renminbi, Japanese Yen, Swedish Krona, Mexican Peso, Australian Dollar, Canadian Dollar, 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 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 $225 million and $340 million as of September 30, 2024 and December 31, 2023, respectively. The maximum term over which we have cash flow hedge contracts in place related to forecasted transactions at September 30, 2024 is 12 months for foreign exchange contracts. There were no outstanding interest rate contracts designated as cash flow hedges as of September 30, 2024 and December 31, 2023. 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, 2024 and December 31, 2023. In October 2023, we entered into a foreign currency forward contract with a notional amount of $798 million and designated that derivative as a fair value hedge of our €750 million of 0.40% senior notes due May 2024. This forward contract matured in May 2024. Net Investment Hed g es In May 2017, we issued €600 million of 1.3% senior notes due May 2025. In May 2019, we issued €750 million of 1.3% 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. In May 2019, we issued €750 million of 0.40% senior notes due May 2024. We had designated these debt obligations as hedges of our investment in our European operations and, as a result, mark to spot rate adjustments of the outstanding debt balances were previously recorded as a component of AOCI. In October 2023, we dedesignated this previously designated net investment hedge and concurrently entered into a fair value hedging relationship as discussed in the "Fair Value Hedges" section above. As of September 30, 2024, we had an accumulated pre-tax unrealized translation gain in AOCI of $18 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 2024 or 2023 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 2024 or 2023. 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 2024 or 2023. 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 $527 million as of September 30, 2024 and $305 million as of December 31, 2023. 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, 2024 and 2023. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI into income (in millions) 2024 2023 2024 2023 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (1) $ (1) Foreign exchange contracts (9) 9 Cost of sales 4 3 Net investment hedges (68) 48 Other (income) expense, net — — Total $ (77) $ 57 $ 3 $ 2 Location of gain (loss) in income statement Gain (loss) recognized in income (in millions) 2024 2023 Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net 6 (1) Total $ 6 $ (1) 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, 2024 and 2023. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI into income (in millions) 2024 2023 2024 2023 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (4) $ (4) Foreign exchange contracts 5 19 Cost of sales 9 10 Fair value hedges Foreign exchange contracts (3) — Other (income) expense, net (5) — Net investment hedges (19) 10 Other (income) expense, net — — Total $ (17) $ 29 $ — $ 6 Location of gain (loss) in income statement Gain (loss) recognized in income (in millions) 2024 2023 Fair value hedges Foreign exchange contracts Other (income) expense, net $ (24) $ — Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net — (9) Total $ (24) $ (9) As of September 30, 2024, $8 million of deferred, net after-tax losses 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, 2024. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets $ 2 Accrued expenses and other current liabilities $ 2 Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets — Accrued expenses and other current liabilities 5 Total derivative instruments $ 2 $ 7 The following table summarizes the classification and fair values of derivative instruments reported in the condensed consolidated balance sheet as of December 31, 2023. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets $ 41 Accrued expenses and other current liabilities $ — Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets 4 Accrued expenses and other current liabilities 5 Total derivative instruments $ 45 $ 5 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, 2024 December 31, 2023 (in millions) Asset Liability Asset Liability Gross amounts recognized in the condensed consolidated balance sheets $ 2 $ 7 $ 45 $ 5 Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet (1) (1) (4) (4) Total $ 1 $ 6 $ 41 $ 1 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, 2024 Balance as of December 31, 2023 Balance as of September 30, 2024 Balance as of December 31, 2023 Long-term debt $ 100 $ 100 $ 3 $ 3 (a) These fair value hedges were terminated in 2018 and earlier periods.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2024
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, 2024 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 2 $ — $ 2 $ — Available-for-sale debt securities 1 — — 1 Marketable equity securities 13 13 — — Total $ 16 $ 13 $ 2 $ 1 Liabilities Foreign exchange contracts $ 7 $ — $ 7 $ — Contingent payments related to acquisitions 12 — — 12 Total $ 19 $ — $ 7 $ 12 Basis of fair value measurement (in millions) Balance as of December 31, 2023 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 45 $ — $ 45 $ — Available-for-sale debt securities 1 — — 1 Marketable equity securities 44 44 — — Total $ 90 $ 44 $ 45 $ 1 Liabilities Foreign exchange contracts $ 5 $ — $ 5 $ — Contingent payments related to acquisitions 14 — — 14 Total $ 19 $ — $ 5 $ 14 As of September 30, 2024 and December 31, 2023, cash and cash equivalents of $1.42 billion and $3.08 billion, respectively, included money market funds of approximately $427 million and $1.63 billion, 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 incorporating management's expectations of future outcomes. The fair value of milestone payments increases as the estimated 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, 2024 2023 (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 $ 14 $ 1 $ 21 $ 17 Payments (2) — (2) — Fair value at end of period $ 12 $ 1 $ 19 $ 17 Nine Months Ended September 30, 2024 2023 (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 $ 14 $ 1 $ 84 $ 27 Change in fair value recognized in earnings — — (14) (5) Transfers out of Level 3 — — — (5) Payments (2) — (51) — Fair value at end of period $ 12 $ 1 $ 19 $ 17 During the nine months ended September 30, 2023, available-for-sale debt securities were reclassified from Level 3, upon conversion to marketable equity securities, which are classified as Level 1 in the fair value hierarchy, upon initial public offerings of the investees. 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, 2024 and December 31, 2023. Book values Fair values(a) (in millions) 2024 2023 2024 2023 Liabilities Current maturities of long-term debt and finance lease obligations $ 2,498 $ 2,667 $ 2,493 $ 2,621 Long-term debt and finance lease obligations 10,437 11,089 9,612 10,026 (a) These fair value amounts are classified as Level 2 within the fair value hierarchy as they are estimated based on observable inputs. 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 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 The carrying values of equity investments without readily determinable fair values that we measure at cost, less impairment were $33 million as of September 30, 2024 and December 31, 2023. When applicable, we also adjust the measurement of such equity investments for observable prices in orderly transactions for an identical or similar investment of the same issuer. Those investments are included in Other non-current assets on our condensed consolidated balance sheets. During the first nine months of 2023, several of our investees either completed or were in the process of undertaking new financing rounds at lower enterprise valuations as compared to their valuations at the time of our investments. As a result, we recognized $8 million of impairments of equity investments without readily determinable fair values in the prior year period. In addition, we recognized a $5 million impairment of a convertible debt investment, which is accounted for as an available-for-sale security, during the first nine months of 2023. The fair value measurements of investments in non-marketable equity and convertible debt securities are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION 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. Under this new operating model, our business is currently comprised of four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care (which we are planning to divest through the pending sale and accordingly, the results are reported in discontinued operations as discussed in Note 1). 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 operating room integration technologies, precision positioning devices, and other accessories. The Pharmaceuticals segment includes sales of specialty injectable pharmaceuticals, inhaled anesthesia, and drug compounding. 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, which are eliminated in consolidation, are not presented in the table below. Three Months Ended September 30, 2024 2023 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 613 $ 457 $ 1,070 $ 570 $ 433 $ 1,003 Advanced Surgery 149 123 272 139 116 255 Medical Products and Therapies 762 580 1,342 709 549 1,258 Care and Connectivity Solutions 335 121 456 317 126 443 Front Line Care 222 74 296 234 67 301 Healthcare Systems and Technologies 557 195 752 551 193 744 Injectables and Anesthesia 178 143 321 195 156 351 Drug Compounding — 267 267 — 229 229 Pharmaceuticals 178 410 588 195 385 580 Other 3 14 17 12 5 17 Total Baxter $ 1,500 $ 1,199 $ 2,699 $ 1,467 $ 1,132 $ 2,599 Nine Months Ended September 30, 2024 2023 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 1,718 $ 1,363 $ 3,081 $ 1,654 $ 1,264 $ 2,918 Advanced Surgery 446 366 812 433 340 773 Medical Products and Therapies 2,164 1,729 3,893 2,087 1,604 3,691 Care and Connectivity Solutions 945 365 1,310 926 381 1,307 Front Line Care 635 222 857 681 230 911 Healthcare Systems and Technologies 1,580 587 2,167 1,607 611 2,218 Injectables and Anesthesia 566 424 990 550 437 987 Drug Compounding — 778 778 — 665 665 Pharmaceuticals 566 1,202 1,768 550 1,102 1,652 Other 30 25 55 56 17 73 Total Baxter $ 4,340 $ 3,543 $ 7,883 $ 4,300 $ 3,334 $ 7,634 Geographic Sales Information Our net sales are attributed to the following geographic regions based on the location of the customer. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 1,500 $ 1,467 $ 4,340 $ 4,300 Emerging markets 1 347 353 1,001 985 Rest of world 2 852 779 2,542 2,349 Total Baxter $ 2,699 $ 2,599 $ 7,883 $ 7,634 1 Emerging markets includes sales from our operations in Eastern Europe, the Middle East, Africa, Latin America, and Asia (except for Japan). 2 Rest of world includes sales from our operations in Western Europe, Canada, Japan, Australia, and New Zealand. 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 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. 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. With the results of our Kidney Care segment reported in discontinued operations, corporate costs that had previously been allocated to the Kidney Care segment which will not convey with the Kidney Care segment in the pending sale, are now presented as unallocated corporate costs. The following table presents our segment operating income and reconciliations of segment operating income to income from continuing operations before income taxes. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Medical Products and Therapies $ 268 $ 245 $ 733 $ 706 Healthcare Systems and Technologies 136 115 323 327 Pharmaceuticals 58 108 211 284 Other 2 6 15 19 Total 464 474 1,282 1,336 Unallocated corporate costs (73) (73) (227) (285) Intangible asset amortization expense (159) (147) (471) (434) Legal matters (17) (13) (17) (13) Business optimization items (18) (48) (49) (167) Acquisition and integration items (5) (2) (16) (2) European Medical Devices Regulation (9) (12) (25) (32) Hurricane Helene costs (25) — (25) — Product-related items (3) — (3) — Total operating income 155 179 449 403 Interest expense, net 87 127 251 367 Other (income) expense, net (1) (12) (34) 15 Income from continuing operations before income taxes $ 69 $ 64 $ 232 $ 21 Our chief operating decision maker does not receive any asset information by reportable segment and, accordingly, we do not report asset information by reportable segment.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to Baxter stockholders	$ 140	$ 2,508	$ (137)	$ 2,411

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2024
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, 2023 (2023 Annual Report).
Risks and Uncertainties	Risks and Uncertainties Supply Constraints and Global Economic Conditions In recent years, we have experienced significant challenges to our global supply chain, including production delays and interruptions, increased costs and shortages of raw materials and component parts (including resins and electromechanical devices), higher transportation costs, adverse impacts from significant weather events (including Hurricane Helene and the flooding of our North Cove facility), elevated inflation levels and interest rates, disruptions to certain ports of call and access to shipping lanes around the world, the war in Ukraine, the conflict in the Middle East, tensions amongst China, Taiwan, and the U.S., and other geopolitical events. While we have seen improvements in the availability of component parts and improved pricing of raw materials and on transportation costs, some of these challenges (such as additional transportation costs resulting from Hurricane Helene as we transfer product across our global network in the interest of increasing the availability of intravenous and peritoneal dialysis solutions for our customers while we work to fully remediate our North Cove facility) are expected to have a negative impact on our results of operations in the future.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Results of Discontinued Operations and Assets and Liabilities of Discontinued Operations	The following tables summarize the major classes of line items included in income (loss) from discontinued operations, net of tax, for the three and nine months ended September 30, 2024 and 2023: Kidney Care BioPharma Solutions Total Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, (in millions) 2024 2023 2024 2023 2024 2023 Net sales $ 1,155 $ 1,109 $ — $ 191 $ 1,155 $ 1,300 Cost of sales 731 1,048 — 81 731 1,129 Gross margin 424 61 — 110 424 171 Selling, general and administrative expenses 278 258 — 15 278 273 Research and development expenses 41 33 — 1 41 34 Other operating income, net (1) — — — (1) — Operating income (loss) 106 (230) — 94 106 (136) Interest expense, net 1 1 — — 1 1 Other (income) expense, net (8) 5 — 2 (8) 7 Income (loss) from discontinued operations before gain on disposition and income taxes 113 (236) — 92 113 (144) Gain on disposition — — — 2,890 — 2,890 Income tax expense (benefit) 30 (250) — 522 30 272 Income from discontinued operations, net of tax 83 14 — 2,460 83 2,474 Less: Net income attributable to noncontrolling interest included in discontinued operations 4 3 — — 4 3 Net income attributable to Baxter stockholders included in discontinued operations $ 79 $ 11 $ — $ 2,460 $ 79 $ 2,471 Kidney Care BioPharma Solutions Total Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 2024 2023 Net sales $ 3,375 $ 3,294 $ — $ 469 $ 3,375 $ 3,763 Cost of sales 2,125 2,841 — 216 2,125 3,057 Gross margin 1,250 453 — 253 1,250 706 Selling, general and administrative expenses 874 691 — 44 874 735 Research and development expenses 140 104 — 2 140 106 Goodwill impairment 430 — — — 430 — Other operating income, net (1) — — — (1) — Operating income (loss) (193) (342) — 207 (193) (135) Interest expense, net — 2 — — — 2 Other (income) expense, net (2) 18 — 2 (2) 20 Income (loss) from discontinued operations before income taxes (191) (362) — 205 (191) (157) Gain on disposition — — — 2,890 — 2,890 Income tax expense (benefit) 99 (258) — 536 99 278 Income (loss) from discontinued operations, net of tax (290) (104) — 2,559 (290) 2,455 Less: Net income attributable to noncontrolling interests included in discontinued operations 9 6 — — 9 6 Net income (loss) attributable to Baxter stockholders included in discontinued operations $ (299) $ (110) $ — $ 2,559 $ (299) $ 2,449 The following table summarizes the carrying amounts of the major classes of assets and liabilities classified as discontinued operations, related to our Kidney Care business, in the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023: (in millions) September 30, 2024 December 31, 2023 Cash and cash equivalents $ 658 $ 116 Accounts receivable, net of allowances 1,045 971 Inventories 960 906 Prepaid expenses and other current assets 229 186 Current assets of discontinued operations 2,892 2,179 Property, plant and equipment, net 1,542 1,562 Goodwill 276 721 Other intangible assets, net 147 161 Operating lease right-of-use assets 209 188 Other non-current assets 360 317 Non-current assets of discontinued operations 2,534 2,949 Assets of discontinued operations $ 5,426 $ 5,128 Current maturities of finance lease obligations $ — $ 1 Accounts payable 396 360 Accrued expenses and other current liabilities 693 679 Current liabilities of discontinued operations 1,089 1,040 Long-term finance lease obligations, less current portion 40 41 Operating lease liabilities 186 173 Other non-current liabilities 349 337 Non-current liabilities of discontinued operations 575 551 Liabilities of discontinued operations $ 1,664 $ 1,591

SUPPLEMENTAL FINANCIAL INFORM_2

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Balance at beginning of period $ 67 $ 61 $ 62 $ 50 Charged to costs and expenses 4 2 4 17 Write-offs (3) 1 (6) (2) Currency translation adjustments (3) 2 5 1 Balance at end of period $ 65 $ 66 $ 65 $ 66
Inventories	Inventories (in millions) September 30, December 31, Raw materials $ 532 $ 530 Work in process 256 234 Finished goods 1,315 1,154 Inventories $ 2,103 $ 1,918
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net (in millions) September 30, December 31, Property, plant and equipment, at cost $ 7,605 $ 7,650 Accumulated depreciation (4,772) (4,779) Property, plant and equipment, net $ 2,833 $ 2,871
Interest Expense, Net	Interest Expense, Net Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Interest expense, net of capitalized interest $ 101 $ 136 $ 308 $ 394 Interest income (14) (9) (57) (27) Interest expense, net $ 87 $ 127 $ 251 $ 367
Other (Income) Expense-, Net	Other (Income) Expense, Net Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Foreign exchange losses, net $ 7 $ 10 $ 21 49 Pension and other postretirement benefit plans (9) (15) (34) (37) Change in fair value of marketable equity securities — (3) (3) 3 Non-marketable investment impairments — — — 13 Other, net 1 (4) (18) (13) Other (income) expense, net $ (1) $ (12) $ (34) $ 15

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	The following is a reconciliation of goodwill by segment. (in millions) Medical Products and Therapies Healthcare Systems and Technologies Pharmaceuticals Total Balance as of December 31, 2023 $ 1,241 $ 3,989 $ 563 $ 5,793 Currency translation (7) — (3) (10) Balance as of September 30, 2024 $ 1,234 $ 3,989 $ 560 $ 5,783
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 Trade names Other amortized intangible assets Trade names In process Research and Development Total September 30, 2024 Gross other intangible assets $ 3,390 $ 3,182 $ 963 $ 87 $ 680 $ 157 $ 8,459 Accumulated amortization (824) (2,027) (92) (67) — — (3,010) Other intangible assets, net $ 2,566 $ 1,155 $ 871 $ 20 $ 680 $ 157 $ 5,449 December 31, 2023 Gross other intangible assets $ 3,390 $ 3,181 $ 964 $ 86 $ 680 $ 157 $ 8,458 Accumulated amortization (654) (1,782) (38) (66) — — (2,540) Other intangible assets, net $ 2,736 1,399 926 20 680 157 5,918

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Summary of Changes in AOCI Income (Loss) 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, 2024 and 2023. Gains (losses) (in millions) CTA Pension and OPEB plans Hedging activities Available-for-sale debt securities Total Balance as of December 31, 2023 $ (2,985) $ (452) $ (120) $ 3 $ (3,554) Other comprehensive income (loss) before reclassifications (92) — 2 — (90) Amounts reclassified from AOCI (a) — (3) — — (3) Net other comprehensive income (loss) (92) (3) 2 — (93) Balance as of September 30, 2024 $ (3,077) $ (455) $ (118) $ 3 $ (3,647) 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) (a) See table below for details about these reclassifications.
Summary of Reclassification from AOCI to Net Income (Loss)	The following is a summary of the amounts reclassified from AOCI to net income (loss) during the three and nine months ended September 30, 2024 and 2023. Amounts reclassified from AOCI (a) (in millions) Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Location of impact in income statement Pension and OPEB items Amortization of net losses and prior service costs or credits $ 1 $ 4 Other (income) expense, net Less: Tax effect — (1) Income tax expense $ 1 $ 3 Net of tax Gains (losses) on hedging activities Foreign exchange contracts $ 4 $ 9 Cost of sales Interest rate contracts (1) (4) Interest expense, net Fair value hedges — (5) Other (income) expense, net 3 — Total before tax Less: Tax effect (1) — Income tax expense $ 2 $ — Net of tax Total reclassifications for the period $ 3 $ 3 Total net of tax 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 Total before tax 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

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2024
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 $ 4 $ 4 Software sales 46 45 Bundled equipment and consumable medical products contracts 95 116 Contract assets $ 145 $ 165 The following table summarizes contract liability activity for the nine months ended September 30, 2024 and 2023. The contract liability balance represents the transaction price allocated to the remaining performance obligations. Nine Months Ended September 30, (in millions) 2024 2023 Balance at beginning of period $ 169 $ 173 New revenue deferrals 383 401 Revenue recognized upon satisfaction of performance obligations (389) (407) Currency translation (3) 2 Balance at end of period $ 160 $ 169 For the nine months ended September 30, 2024 and 2023, $94 million and $111 million of revenue was recognized that was included in contract liabilities as of December 31, 2023 and 2022, 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 $ 54 $ 53 Other non-current assets 91 112 Contract assets $ 145 $ 165 Accrued expenses and other current liabilities $ 124 $ 128 Other non-current liabilities 36 41 Contract liabilities $ 160 $ 169
Sales-type Lease, Lease Income	The components of lease revenue for the three and nine months ended September 30, 2024 and 2023 were: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Sales-type lease revenue $ 3 $ 2 $ 8 $ 6 Operating lease revenue 102 98 288 302 Variable lease revenue 10 3 22 15 Total lease revenue $ 115 $ 103 $ 318 $ 323
Operating Lease, Lease Income	The components of lease revenue for the three and nine months ended September 30, 2024 and 2023 were: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Sales-type lease revenue $ 3 $ 2 $ 8 $ 6 Operating lease revenue 102 98 288 302 Variable lease revenue 10 3 22 15 Total lease revenue $ 115 $ 103 $ 318 $ 323

BUSINESS OPTIMIZATION CHARGES (

BUSINESS OPTIMIZATION CHARGES (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Summary of Business Optimization Charges	During the three and nine months ended September 30, 2024 and 2023, we recorded the following charges related to business optimization programs. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Restructuring charges $ 15 $ 41 $ 36 $ 140 Costs to implement business optimization programs 3 7 13 27 Total business optimization charges $ 18 $ 48 $ 49 $ 167
Components of Restructuring Charges	During the three and nine months ended September 30, 2024 and 2023, we recorded the following restructuring charges. Three months ended September 30, 2024 (in millions) COGS SG&A Total Employee termination costs $ 2 $ 10 $ 12 Contract termination and other costs — 3 3 Total restructuring charges $ 2 $ 13 $ 15 Three months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 6 $ 29 $ 4 $ 39 Contract termination and other costs — 2 — 2 Total restructuring charges $ 6 $ 31 $ 4 $ 41 Nine months ended September 30, 2024 (in millions) COGS SG&A Total Employee termination costs $ 4 $ 25 $ 29 Contract termination and other costs 1 6 7 Total restructuring charges $ 5 $ 31 $ 36 Nine months ended September 30, 2023 (in millions) COGS SG&A R&D Total Employee termination costs $ 25 $ 89 $ 10 $ 124 Contract termination and other costs — 5 — 5 Asset impairments 3 8 — 11 Total restructuring charges $ 28 $ 102 $ 10 $ 140
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, 2023 $ 95 Charges 42 Payments (59) Reserve adjustments (8) Currency translation 4 Liability balance as of September 30, 2024 $ 74

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFIT PROGRAMS (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Pension benefits Service cost $ 4 $ 6 $ 13 $ 18 Interest cost 33 45 123 137 Expected return on plan assets (43) (57) (160) (166) Amortization of net losses and prior service costs 4 1 11 4 Net periodic pension cost $ (2) $ (5) $ (13) $ (7) OPEB Interest cost $ 2 $ 2 $ 6 $ 6 Amortization of net loss and prior service credit (5) (6) (14) (18) Net periodic OPEB cost (income) $ (3) $ (4) $ (8) $ (12)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) attributable to Stockholder	The following table is a reconciliation of income (loss) from continuing operations to net income (loss) attributable to Baxter stockholders. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Income (loss) from continuing operations $ 61 $ 37 $ 162 $ (38) Less: Net income attributable to noncontrolling interests included in continuing operations — — — — Income (loss) from continuing operations attributable to Baxter stockholders 61 37 162 (38) Income (loss) from discontinued operations 83 2,474 (290) 2,455 Less: Net income attributable to noncontrolling interests included in discontinued operations 4 3 9 6 Income (loss) from discontinued operations attributable to Baxter stockholders 79 2,471 (299) 2,449 Net income (loss) attributable to Baxter stockholders $ 140 $ 2,508 $ (137) $ 2,411
Reconciliation of Basic Shares to Diluted Shares	The following table is a reconciliation of basic shares and diluted shares. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Basic shares 510 507 509 506 Effect of dilutive securities 2 2 2 — Diluted shares 512 509 511 506

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI into income (in millions) 2024 2023 2024 2023 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (1) $ (1) Foreign exchange contracts (9) 9 Cost of sales 4 3 Net investment hedges (68) 48 Other (income) expense, net — — Total $ (77) $ 57 $ 3 $ 2 Location of gain (loss) in income statement Gain (loss) recognized in income (in millions) 2024 2023 Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net 6 (1) Total $ 6 $ (1) 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, 2024 and 2023. Gain (loss) recognized in OCI Location of gain (loss) Gain (loss) reclassified from AOCI into income (in millions) 2024 2023 2024 2023 Cash flow hedges Interest rate contracts $ — $ — Interest expense, net $ (4) $ (4) Foreign exchange contracts 5 19 Cost of sales 9 10 Fair value hedges Foreign exchange contracts (3) — Other (income) expense, net (5) — Net investment hedges (19) 10 Other (income) expense, net — — Total $ (17) $ 29 $ — $ 6 Location of gain (loss) in income statement Gain (loss) recognized in income (in millions) 2024 2023 Fair value hedges Foreign exchange contracts Other (income) expense, net $ (24) $ — Undesignated derivative instruments Foreign exchange contracts Other (income) expense, net — (9) Total $ (24) $ (9)
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, 2024. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets $ 2 Accrued expenses and other current liabilities $ 2 Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets — Accrued expenses and other current liabilities 5 Total derivative instruments $ 2 $ 7 The following table summarizes the classification and fair values of derivative instruments reported in the condensed consolidated balance sheet as of December 31, 2023. Derivatives in asset positions Derivatives in liability positions (in millions) Balance sheet location Fair value Balance sheet location Fair value Undesignated derivative instruments Foreign exchange contracts Prepaid expenses and other current assets $ 41 Accrued expenses and other current liabilities $ — Derivative instruments designated as hedges Foreign exchange contracts Prepaid expenses and other current assets 4 Accrued expenses and other current liabilities 5 Total derivative instruments $ 45 $ 5
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, 2024 December 31, 2023 (in millions) Asset Liability Asset Liability Gross amounts recognized in the condensed consolidated balance sheets $ 2 $ 7 $ 45 $ 5 Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet (1) (1) (4) (4) Total $ 1 $ 6 $ 41 $ 1
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, 2024 Balance as of December 31, 2023 Balance as of September 30, 2024 Balance as of December 31, 2023 Long-term debt $ 100 $ 100 $ 3 $ 3 (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, 2024
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, 2024 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 2 $ — $ 2 $ — Available-for-sale debt securities 1 — — 1 Marketable equity securities 13 13 — — Total $ 16 $ 13 $ 2 $ 1 Liabilities Foreign exchange contracts $ 7 $ — $ 7 $ — Contingent payments related to acquisitions 12 — — 12 Total $ 19 $ — $ 7 $ 12 Basis of fair value measurement (in millions) Balance as of December 31, 2023 Quoted prices in active markets for identical assets Significant other Significant Assets Foreign exchange contracts $ 45 $ — $ 45 $ — Available-for-sale debt securities 1 — — 1 Marketable equity securities 44 44 — — Total $ 90 $ 44 $ 45 $ 1 Liabilities Foreign exchange contracts $ 5 $ — $ 5 $ — Contingent payments related to acquisitions 14 — — 14 Total $ 19 $ — $ 5 $ 14
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, 2024 2023 (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 $ 14 $ 1 $ 21 $ 17 Payments (2) — (2) — Fair value at end of period $ 12 $ 1 $ 19 $ 17 Nine Months Ended September 30, 2024 2023 (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 $ 14 $ 1 $ 84 $ 27 Change in fair value recognized in earnings — — (14) (5) Transfers out of Level 3 — — — (5) Payments (2) — (51) — Fair value at end of period $ 12 $ 1 $ 19 $ 17
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, 2024 and December 31, 2023. Book values Fair values(a) (in millions) 2024 2023 2024 2023 Liabilities Current maturities of long-term debt and finance lease obligations $ 2,498 $ 2,667 $ 2,493 $ 2,621 Long-term debt and finance lease obligations 10,437 11,089 9,612 10,026 (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, 2024
Segment Reporting [Abstract]
Summary of Financial Information for Our Segments	The following tables present our U.S. and International disaggregated net sales. Intersegment sales, which are eliminated in consolidation, are not presented in the table below. Three Months Ended September 30, 2024 2023 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 613 $ 457 $ 1,070 $ 570 $ 433 $ 1,003 Advanced Surgery 149 123 272 139 116 255 Medical Products and Therapies 762 580 1,342 709 549 1,258 Care and Connectivity Solutions 335 121 456 317 126 443 Front Line Care 222 74 296 234 67 301 Healthcare Systems and Technologies 557 195 752 551 193 744 Injectables and Anesthesia 178 143 321 195 156 351 Drug Compounding — 267 267 — 229 229 Pharmaceuticals 178 410 588 195 385 580 Other 3 14 17 12 5 17 Total Baxter $ 1,500 $ 1,199 $ 2,699 $ 1,467 $ 1,132 $ 2,599 Nine Months Ended September 30, 2024 2023 (in millions) U.S. International Total U.S. International Total Infusion Therapies and Technologies $ 1,718 $ 1,363 $ 3,081 $ 1,654 $ 1,264 $ 2,918 Advanced Surgery 446 366 812 433 340 773 Medical Products and Therapies 2,164 1,729 3,893 2,087 1,604 3,691 Care and Connectivity Solutions 945 365 1,310 926 381 1,307 Front Line Care 635 222 857 681 230 911 Healthcare Systems and Technologies 1,580 587 2,167 1,607 611 2,218 Injectables and Anesthesia 566 424 990 550 437 987 Drug Compounding — 778 778 — 665 665 Pharmaceuticals 566 1,202 1,768 550 1,102 1,652 Other 30 25 55 56 17 73 Total Baxter $ 4,340 $ 3,543 $ 7,883 $ 4,300 $ 3,334 $ 7,634
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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 1,500 $ 1,467 $ 4,340 $ 4,300 Emerging markets 1 347 353 1,001 985 Rest of world 2 852 779 2,542 2,349 Total Baxter $ 2,699 $ 2,599 $ 7,883 $ 7,634 1 Emerging markets includes sales from our operations in Eastern Europe, the Middle East, Africa, Latin America, and Asia (except for Japan). 2 Rest of world includes sales from our operations in Western Europe, Canada, Japan, Australia, and New Zealand.
Operating Income to Income Before Income Taxes Reconciliation	The following table presents our segment operating income and reconciliations of segment operating income to income from continuing operations before income taxes. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Medical Products and Therapies $ 268 $ 245 $ 733 $ 706 Healthcare Systems and Technologies 136 115 323 327 Pharmaceuticals 58 108 211 284 Other 2 6 15 19 Total 464 474 1,282 1,336 Unallocated corporate costs (73) (73) (227) (285) Intangible asset amortization expense (159) (147) (471) (434) Legal matters (17) (13) (17) (13) Business optimization items (18) (48) (49) (167) Acquisition and integration items (5) (2) (16) (2) European Medical Devices Regulation (9) (12) (25) (32) Hurricane Helene costs (25) — (25) — Product-related items (3) — (3) — Total operating income 155 179 449 403 Interest expense, net 87 127 251 367 Other (income) expense, net (1) (12) (34) 15 Income from continuing operations before income taxes $ 69 $ 64 $ 232 $ 21

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Nov. 01, 2024	Sep. 30, 2024	Mar. 31, 2025	Dec. 31, 2024
Hurricane
Disclosure Basis Of Presentation Details [Line Items]
Hurricane Helene costs		$ 25
Tangible asset write-off		44
Insurance receivable		$ 19
Subsequent Event | Hurricane
Disclosure Basis Of Presentation Details [Line Items]
Insurance recoveries	$ 101
Discontinued Operations, Disposed of by Sale | Kidney Care | Forecast
Disclosure Basis Of Presentation Details [Line Items]
Agreed purchase price				$ 3,800
Discontinued Operations, Held-for-Sale | Kidney Care | Forecast
Disclosure Basis Of Presentation Details [Line Items]
Proceeds from divestiture of businesses			$ 3,500
Discontinued Operations, Held-for-Sale | Kidney Care | Forecast | Minimum
Disclosure Basis Of Presentation Details [Line Items]
Proceeds from divestiture of businesses, net of tax			3,150
Discontinued Operations, Held-for-Sale | Kidney Care | Forecast | Maximum
Disclosure Basis Of Presentation Details [Line Items]
Proceeds from divestiture of businesses, net of tax			$ 3,250

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		6 Months Ended	9 Months Ended
	Dec. 31, 2024	Sep. 29, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2025	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transaction service agreement, period		24 months
Manufacturing and supply agreement, period		5 years
Separation costs			$ 69			$ 236
Forecast | Kidney Care Manufacturing and Supply Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transaction service agreement, period	10 years
Forecast | Kidney Care Transition Services Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transaction service agreement, period	30 months
Discontinued Operations, Held-for-Sale | Kidney Care | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses					$ 3,500
Discontinued Operations, Held-for-Sale | Kidney Care | Forecast | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses, net of tax					3,150
Discontinued Operations, Held-for-Sale | Kidney Care | Forecast | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses, net of tax					$ 3,250
Discontinued Operations, Disposed of by Sale | BioPharma Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Separation costs				$ 8			$ 15
Discontinued Operations, Disposed of by Sale | Kidney Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Separation costs				$ 67			$ 108
Discontinued Operations, Disposed of by Sale | Kidney Care | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price	$ 3,800

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other operating income, net	$ (5)	$ 0	$ (9)	$ (14)
Operating income	155	179	449	403
Interest expense, net	87	127	251	367
Other (income) expense, net	(1)	(12)	(34)	15
Income from discontinued operations, net of tax	83	2,474	(290)	2,455
Net income attributable to noncontrolling interests included in discontinued operations	4	3	9	6
Income (loss) from discontinued operations attributable to Baxter stockholders	79	2,471	(299)	2,449
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	1,155	1,300	3,375	3,763
Cost of sales	731	1,129	2,125	3,057
Gross margin	424	171	1,250	706
Selling, general and administrative expenses	278	273	874	735
Research and development expenses	41	34	140	106
Goodwill impairment			430	0
Other operating income, net	(1)	0	(1)	0
Operating income	106	(136)	(193)	(135)
Interest expense, net	1	1	0	2
Other (income) expense, net	(8)	7	(2)	20
Income (loss) from discontinued operations before gain on disposition and income taxes	113	(144)	(191)	(157)
Gain on disposition	0	2,890	0	2,890
Income tax expense (benefit)	30	272	99	278
Income from discontinued operations, net of tax	83	2,474	(290)	2,455
Net income attributable to noncontrolling interests included in discontinued operations	4	3	9	6
Income (loss) from discontinued operations attributable to Baxter stockholders	79	2,471	(299)	2,449
Discontinued Operations, Disposed of by Sale | Kidney Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	1,155	1,109	3,375	3,294
Cost of sales	731	1,048	2,125	2,841
Gross margin	424	61	1,250	453
Selling, general and administrative expenses	278	258	874	691
Research and development expenses	41	33	140	104
Goodwill impairment			430	0
Other operating income, net	(1)	0	(1)	0
Operating income	106	(230)	(193)	(342)
Interest expense, net	1	1	0	2
Other (income) expense, net	(8)	5	(2)	18
Income (loss) from discontinued operations before gain on disposition and income taxes	113	(236)	(191)	(362)
Gain on disposition	0	0	0	0
Income tax expense (benefit)	30	(250)	99	(258)
Income from discontinued operations, net of tax	83	14	(290)	(104)
Net income attributable to noncontrolling interests included in discontinued operations	4	3	9	6
Income (loss) from discontinued operations attributable to Baxter stockholders	79	11	(299)	(110)
Discontinued Operations, Disposed of by Sale | BioPharma Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	191	0	469
Cost of sales	0	81	0	216
Gross margin	0	110	0	253
Selling, general and administrative expenses	0	15	0	44
Research and development expenses	0	1	0	2
Goodwill impairment			0	0
Other operating income, net	0	0	0	0
Operating income	0	94	0	207
Interest expense, net	0	0	0	0
Other (income) expense, net	0	2	0	2
Income (loss) from discontinued operations before gain on disposition and income taxes	0	92	0	205
Gain on disposition	0	2,890	0	2,890
Income tax expense (benefit)	0	522	0	536
Income from discontinued operations, net of tax	0	2,460	0	2,559
Net income attributable to noncontrolling interests included in discontinued operations	0	0	0	0
Income (loss) from discontinued operations attributable to Baxter stockholders	$ 0	$ 2,460	$ 0	$ 2,559

DISCONTINUED OPERATIONS - Carry

DISCONTINUED OPERATIONS - Carrying Amounts of the Assets and Liabilities Classified As Discontinued Operations (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets of discontinued operations	$ 2,892	$ 2,179
Non-current assets of discontinued operations	2,534	2,949
Current liabilities of discontinued operations	1,089	1,040
Non-current liabilities of discontinued operations	575	551
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	658	116
Accounts receivable, net of allowances	1,045	971
Inventories	960	906
Prepaid expenses and other current assets	229	186
Current assets of discontinued operations	2,892	2,179
Property, plant and equipment, net	1,542	1,562
Goodwill	276	721
Other intangible assets, net	147	161
Operating lease right-of-use assets	209	188
Other non-current assets	360	317
Non-current assets of discontinued operations	2,534	2,949
Assets of discontinued operations	5,426	5,128
Current maturities of finance lease obligations	0	1
Accounts payable	396	360
Accrued expenses and other current liabilities	693	679
Current liabilities of discontinued operations	1,089	1,040
Long-term finance lease obligations, less current portion	40	41
Operating lease liabilities	186	173
Other non-current liabilities	349	337
Non-current liabilities of discontinued operations	575	551
Liabilities of discontinued operations	$ 1,664	$ 1,591

SUPPLEMENTAL FINANCIAL INFORM_3

SUPPLEMENTAL FINANCIAL INFORMATION - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 67	$ 61	$ 62	$ 50
Charged to costs and expenses	4	2	4	17
Write-offs	(3)	1	(6)	(2)
Currency translation adjustments	(3)	2	5	1
Balance at end of period	$ 65	$ 66	$ 65	$ 66

SUPPLEMENTAL FINANCIAL INFORM_4

SUPPLEMENTAL FINANCIAL INFORMATION - Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 532	$ 530
Work in process	256	234
Finished goods	1,315	1,154
Inventories	$ 2,103	$ 1,918

SUPPLEMENTAL FINANCIAL INFORM_5

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property, plant and equipment, at cost	$ 7,605	$ 7,650
Accumulated depreciation	(4,772)	(4,779)
Property, plant and equipment, net	$ 2,833	$ 2,871

SUPPLEMENTAL FINANCIAL INFORM_6

SUPPLEMENTAL FINANCIAL INFORMATION - Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest Income Expense Net
Interest expense, net of capitalized interest	$ 101	$ 136	$ 308	$ 394
Interest income	(14)	(9)	(57)	(27)
Interest expense, net	$ 87	$ 127	$ 251	$ 367

SUPPLEMENTAL FINANCIAL INFORM_7

SUPPLEMENTAL FINANCIAL INFORMATION - Other (Income) Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income, net
Foreign exchange losses, net	$ 7	$ 10	$ 21	$ 49
Pension and other postretirement benefit plans	(9)	(15)	(34)	(37)
Change in fair value of marketable equity securities	0	(3)	(3)	3
Non-marketable investment impairments	0	0	0	13
Other, net	1	(4)	(18)	(13)
Other (income) expense, net	$ (1)	$ (12)	$ (34)	$ 15

SUPPLEMENTAL FINANCIAL INFORM_8

SUPPLEMENTAL FINANCIAL INFORMATION - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 54	$ 55
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Capital expenditures incurred but not yet paid	$ 34	$ 30

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 5,793
Currency translation	(10)
Goodwill, ending balance	5,783
Medical Products and Therapies
Goodwill [Roll Forward]
Goodwill, beginning balance	1,241
Currency translation	(7)
Goodwill, ending balance	1,234
Healthcare Systems and Technologies
Goodwill [Roll Forward]
Goodwill, beginning balance	3,989
Currency translation	0
Goodwill, ending balance	3,989
Pharmaceuticals
Goodwill [Roll Forward]
Goodwill, beginning balance	563
Currency translation	(3)
Goodwill, ending balance	$ 560

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 159	$ 147	$ 471	$ 434

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Other Intangible Assets, Net (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets	$ 8,459	$ 8,458
Accumulated amortization	(3,010)	(2,540)
Other intangible assets, net	5,449	5,918
Trade names
Intangible Asset Excluding Goodwill [Line Items]
Indefinite-lived intangible assets	680	680
In process Research and Development
Intangible Asset Excluding Goodwill [Line Items]
Indefinite-lived intangible assets	157	157
Customer relationships
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	3,390	3,390
Accumulated amortization	(824)	(654)
Other intangible assets, net, finite-lived	2,566	2,736
Developed technology, including patents
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	3,182	3,181
Accumulated amortization	(2,027)	(1,782)
Other intangible assets, net, finite-lived	1,155	1,399
Trade names
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	963	964
Accumulated amortization	(92)	(38)
Other intangible assets, net, finite-lived	871	926
Other amortized intangible assets
Intangible Asset Excluding Goodwill [Line Items]
Gross other intangible assets, finite-lived	87	86
Accumulated amortization	(67)	(66)
Other intangible assets, net, finite-lived	$ 20	$ 20

FINANCING ARRANGEMENTS (Details

FINANCING ARRANGEMENTS (Details) € in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2025	Sep. 30, 2024 EUR (€)	Jul. 17, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Repayments of debt	$ 827,000,000	$ 353,000,000
Senior Notes
Debt Instrument [Line Items]
Senior notes, interest rate					1.322%
Repayments of debt	822,000,000
Senior Notes | Forecast
Debt Instrument [Line Items]
Rate increase following December 31, 2024 milestone			0.25%
Bridge Facility Line Of Credit | Senior Unsecured Term Loans
Debt Instrument [Line Items]
Borrowings outstanding	0
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding	0						$ 0
Line of credit, current borrowing capacity	$ 2,000,000,000			€ 200		$ 2,500,000,000
Bridge Facility | Senior Unsecured Term Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 2,050,000,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions		1 Months Ended	9 Months Ended
	Jul. 16, 2024 lawsuit	Mar. 31, 2020 lawsuit	Sep. 30, 2024 USD ($) site lawsuit	Sep. 11, 2024 complaint	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Litigation reserve			$ 41		$ 25
Number of complaints | complaint				1
Exposure to Ethylene Oxide
Loss Contingencies [Line Items]
Number of lawsuits | lawsuit	40	2	25
Superfund Sites | Environmental Clean-up
Loss Contingencies [Line Items]
Number of sites | site			6
Environmental reserves			$ 30		$ 15

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.29	$ 0.29	$ 0.87	$ 0.87
Purchases of treasury stock (in shares)			0	0
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	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	$ 7,708	$ 5,631	$ 8,468	$ 5,895
Other comprehensive income (loss)	181	98	(97)	117
Balance, end of period (in usd)	7,942	8,166	7,942	8,166
CTA
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)			(2,985)	(3,386)
Other comprehensive income (loss) before reclassifications			(92)	(62)
Amounts reclassified from AOCI			0	185
Other comprehensive income (loss)			(92)	123
Balance, end of period (in usd)	(3,077)	(3,263)	(3,077)	(3,263)
Pension and OPEB plans
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)			(452)	(331)
Other comprehensive income (loss) before reclassifications			0	0
Amounts reclassified from AOCI			(3)	(16)
Other comprehensive income (loss)			(3)	(16)
Balance, end of period (in usd)	(455)	(347)	(455)	(347)
Hedging activities
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)			(120)	(119)
Other comprehensive income (loss) before reclassifications			2	15
Amounts reclassified from AOCI			0	(5)
Other comprehensive income (loss)			2	10
Balance, end of period (in usd)	(118)	(109)	(118)	(109)
Available-for-sale debt securities
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)			3	3
Other comprehensive income (loss) before reclassifications			0	0
Amounts reclassified from AOCI			0	0
Other comprehensive income (loss)			0	0
Balance, end of period (in usd)	3	3	3	3
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in usd)	(3,828)	(3,814)	(3,554)	(3,833)
Other comprehensive income (loss) before reclassifications			(90)	(47)
Amounts reclassified from AOCI			(3)	164
Other comprehensive income (loss)	181	98	(93)	117
Balance, end of period (in usd)	$ (3,647)	$ (3,716)	$ (3,647)	$ (3,716)

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	$ 1	$ 12	$ 34	$ (15)
Income tax expense	(8)	(27)	(70)	(59)
Cost of sales	(1,666)	(1,543)	(4,858)	(4,584)
Interest expense, net	(87)	(127)	(251)	(367)
Income (loss) from discontinued operations, net of tax	83	2,474	(290)	2,455
Income from continuing operations before income taxes	69	64	232	21
Net income (loss) attributable to Baxter stockholders	140	2,508	(137)	2,411
Amounts reclassified from AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss) attributable to Baxter stockholders	3	(174)	3	(164)
Amounts reclassified from AOCI | CTA
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from discontinued operations, net of tax		(185)		(185)
Income (loss) from discontinued operations before gain on disposition and income taxes		(185)		(185)
Income tax expense (benefit)		0		0
Amounts reclassified from AOCI | Pension and OPEB items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	1	5	4	15
Income tax expense	0	0	(1)	(3)
Income (loss) from discontinued operations, net of tax		4		4
Income (loss), before tax		9		19
Net income (loss) attributable to Baxter stockholders	1	9	3	16
Amounts reclassified from AOCI | Gains (losses) on hedging activities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	(1)	0	0	(1)
Income from continuing operations before income taxes	3	2	0	6
Net income (loss) attributable to Baxter stockholders	2	2	0	5
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	4	3	9	10
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)
Amounts reclassified from AOCI | Gains (losses) on hedging activities | Fair value hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	$ 0		$ (5)

REVENUES - Additional Informati

REVENUES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue From Contract With Customer [Line Items]
Transaction price allocated to remaining performance obligations	$ 2,750		$ 2,750
Revenue related to performance obligations	0	$ 0	0	$ 0
Net trade accounts receivable	1,540		1,540		$ 1,540
Revenue recognized upon satisfaction of performance obligations			94	$ 111
Sales-type lease, net of investment in lease	36		36
2020
Revenue From Contract With Customer [Line Items]
Sales-type leases, receivables	5		5
2021
Revenue From Contract With Customer [Line Items]
Sales-type leases, receivables	10		10
2022
Revenue From Contract With Customer [Line Items]
Sales-type leases, receivables	5		5
2023
Revenue From Contract With Customer [Line Items]
Sales-type leases, receivables	7		7
2024
Revenue From Contract With Customer [Line Items]
Sales-type leases, receivables	$ 9		$ 9
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: 2024-10-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	25%		25%
Remaining performance obligations period	3 months		3 months
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%		25%
Remaining performance obligations period	1 year		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	20%		20%
Remaining performance obligations period	1 year		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	20%		20%
Remaining performance obligations period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage of revenue expected to be recognized	10%		10%
Remaining performance obligations period	1 year		1 year

REVENUES - Contract Assets and

REVENUES - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue From Contract With Customer [Line Items]
Contract assets	$ 145		$ 165
Contract liabilities	160	$ 169	169
Revenue From Contract With Customer [Roll Forward]
Balance at beginning of period	169	173
New revenue deferrals	383	401
Revenue recognized upon satisfaction of performance obligations	(389)	(407)
Currency translation	(3)	2
Balance at end of period	160	$ 169
Prepaid expenses and other current assets
Revenue From Contract With Customer [Line Items]
Contract assets	54		53
Other non-current assets
Revenue From Contract With Customer [Line Items]
Contract assets	91		112
Accrued expenses and other current liabilities
Revenue From Contract With Customer [Line Items]
Contract liabilities	124		128
Revenue From Contract With Customer [Roll Forward]
Balance at beginning of period	128
Balance at end of period	124
Other non-current liabilities
Revenue From Contract With Customer [Line Items]
Contract liabilities	36		41
Revenue From Contract With Customer [Roll Forward]
Balance at beginning of period	41
Balance at end of period	36
Contract manufacturing services
Revenue From Contract With Customer [Line Items]
Contract assets	4		4
Software sales
Revenue From Contract With Customer [Line Items]
Contract assets	46		45
Bundled equipment and consumable medical products contracts
Revenue From Contract With Customer [Line Items]
Contract assets	$ 95		$ 116

REVENUES - Lease Revenue (Detai

REVENUES - Lease Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Sales-type lease revenue	$ 3	$ 2	$ 8	$ 6
Operating lease revenue	102	98	288	302
Variable lease revenue	10	3	22	15
Total lease revenue	$ 115	$ 103	$ 318	$ 323

BUSINESS OPTIMIZATION CHARGES -

BUSINESS OPTIMIZATION CHARGES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Expected additional pre-tax costs	$ 5		$ 5
Charges	15	$ 41	36	$ 140
Employee termination costs
Restructuring Cost and Reserve [Line Items]
Charges	12	39	29	124
Employee termination costs | Restructuring Within HST Segment
Restructuring Cost and Reserve [Line Items]
Charges	7		14
Employee termination costs | New Operating Model
Restructuring Cost and Reserve [Line Items]
Charges		11	7	79
Contract termination and other costs
Restructuring Cost and Reserve [Line Items]
Charges	$ 3	$ 2	$ 7	5
Asset impairments
Restructuring Cost and Reserve [Line Items]
Charges				$ 11

BUSINESS OPTIMIZATION CHARGES_2

BUSINESS OPTIMIZATION CHARGES - Summary of Business Optimization Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 15	$ 41	$ 36	$ 140
Business Optimization Programs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	15	41	36	140
Costs to implement business optimization programs	3	7	13	27
Total business optimization charges	$ 18	$ 48	$ 49	$ 167

BUSINESS OPTIMIZATION CHARGES_3

BUSINESS OPTIMIZATION CHARGES - Components of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 15	$ 41	$ 36	$ 140
COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	6	5	28
SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	13	31	31	102
R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4		10
Employee termination costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	12	39	29	124
Employee termination costs | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	6	4	25
Employee termination costs | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10	29	25	89
Employee termination costs | R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4		10
Contract termination and other costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3	2	7	5
Contract termination and other costs | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	1	0
Contract termination and other costs | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 3	2	$ 6	5
Contract termination and other costs | R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0		0
Asset impairments
Restructuring Cost and Reserve [Line Items]
Restructuring charges				11
Asset impairments | COGS
Restructuring Cost and Reserve [Line Items]
Restructuring charges				3
Asset impairments | SG&A
Restructuring Cost and Reserve [Line Items]
Restructuring charges				8
Asset impairments | R&D
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Charges	$ 15	$ 41	$ 36	$ 140
Severance, Contract Termination, And Other Employee Related Costs
Restructuring Reserve [Roll Forward]
Reserve, beginning balance			95
Charges			42
Payments			(59)
Reserve adjustments			(8)
Currency translation			4
Reserve, ending balance	$ 74		$ 74

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension benefits
Net periodic benefit cost
Service cost	$ 4	$ 6	$ 13	$ 18
Interest cost	33	45	123	137
Expected return on plan assets	(43)	(57)	(160)	(166)
Amortization of net losses and prior service costs	4	1	11	4
Net periodic pension cost (income)	(2)	(5)	(13)	(7)
OPEB
Net periodic benefit cost
Interest cost	2	2	6	6
Amortization of net losses and prior service costs	(5)	(6)	(14)	(18)
Net periodic pension cost (income)	$ (3)	$ (4)	$ (8)	$ (12)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	11.60%	42.20%	30.20%	281%
U.S. Federal statutory rate			21%
Increase in valuation allowance	$ 26		$ 26	$ 30

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Basic Shares to Diluted Shares (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of Basic Shares to Diluted Shares
Basic (in shares)	510	507	509	506
Effect of dilutive securities (in shares)	2	2	2	0
Diluted (in shares)	512	509	511	506
Income (loss) from continuing operations	$ 61	$ 37	$ 162	$ (38)
Net income attributable to noncontrolling interests included in continuing operations	0	0	0	0
Income (loss) from continuing operations	61	37	162	(38)
Income (loss) from discontinued operations, net of tax	83	2,474	(290)	2,455
Net income attributable to noncontrolling interests included in discontinued operations	4	3	9	6
Income (loss) from discontinued operations attributable to Baxter stockholders	79	2,471	(299)	2,449
Net income (loss) attributable to Baxter stockholders	$ 140	$ 2,508	$ (137)	$ 2,411

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of EPS (in shares)	18	18	19	25

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details) € in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) terminate de-designation	Sep. 30, 2023 terminate de-designation	Dec. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2023 EUR (€)	May 31, 2019 EUR (€)	May 31, 2017 EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, fair value, terminated | terminate	0	0
Derivative, net investment terminated | terminate	0	0
Deferred, net after-tax gains on derivative instruments	$ 8,000,000
Undesignated derivative instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 527,000,000		$ 305,000,000
Derivative instruments designated as hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
number of de-designations | de-designation	0	0
Net investment hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accumulated pre-tax unrealized translation gain in AOCI	$ 18,000,000
1.30% Senior Notes Due May 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Senior notes | €							€ 600
Senior notes, interest rate							1.30%
0.4% Senior Notes Due May 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Senior notes | €					€ 750	€ 750
Senior notes, interest rate				0.40%	0.40%	0.40%
1.3% Senior Notes Due May 2029
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Senior notes | €						€ 750
Senior notes, interest rate							1.30%
Interest rate contracts | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, fair value, net	0		0
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 225,000,000		340,000,000
Maximum length of time hedge in cash flow hedge	12 months
Fair value hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount				$ 798,000,000
Interest rate swap | Fair value hedges
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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), cash flow hedge and net investment hedge, gain (loss), before reclassification, tax	$ (77)	$ 57	$ (17)	$ 29
Other comprehensive income (loss), reclassification adjustment from AOCI, cash flow hedges and net investment hedges, net of tax	3	2	0	6
Total	6	(1)	(24)	(9)
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange contracts			(3)	0
Fair value hedges | Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive (income) expense, derivative, excluded component, increase (decrease), adjustments, before tax			(5)	0
Earnings, fair value hedge, gain (loss), reclassification, before tax			(24)	0
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Other comprehensive income (loss), net investment hedge, gain (loss), before reclassification and tax	(68)	48	(19)	10
Net Investment Hedging | Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Net investment hedges	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	6	(1)	0	(9)
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)	9	5	19
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	$ 4	$ 3	$ 9	$ 10

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Classification and Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 2	$ 45
Derivative liability, fair value	7	5
Derivative instruments designated as hedges | Foreign exchange contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	0	4
Derivative instruments designated as hedges | Foreign exchange contracts | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	5	5
Undesignated derivative instruments | Foreign exchange contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	2	41
Undesignated derivative instruments | Foreign exchange contracts | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 2	$ 0

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Positions Presented On Net Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Asset
Gross amounts recognized in the condensed consolidated balance sheets	$ 2	$ 45
Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet	(1)	(4)
Derivative asset, fair value, total	1	41
Liability
Gross amounts recognized in the condensed consolidated balance sheets	7	5
Gross amount subject to offset in master netting arrangements not offset in the condensed consolidated balance sheet	(1)	(4)
Derivative liability, fair value, total	$ 6	$ 1

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, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Carrying amount of hedged item	$ 100	$ 100
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged item	$ 3	$ 3

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, 2024	Dec. 31, 2023
Assets
Foreign exchange contracts	$ 2	$ 45
Available-for-sale debt securities	1	1
Marketable equity securities	13	44
Total assets	16	90
Liabilities
Foreign exchange contracts	7	5
Contingent payments related to acquisitions	12	14
Total liabilities	19	19
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	13	44
Total assets	13	44
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	2	45
Available-for-sale debt securities	0	0
Marketable equity securities	0	0
Total assets	2	45
Liabilities
Foreign exchange contracts	7	5
Contingent payments related to acquisitions	0	0
Total liabilities	7	5
Significant unobservable inputs (Level 3)
Assets
Foreign exchange contracts	0	0
Available-for-sale debt securities	1	1
Marketable equity securities	0	0
Total assets	1	1
Liabilities
Foreign exchange contracts	0	0
Contingent payments related to acquisitions	12	14
Total liabilities	$ 12	$ 14

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value Disclosures [Line Items]
Cash and cash equivalents	$ 1,420	$ 5,716	$ 3,078
Impairment of investments without readily determinable value		8
Debt Securities
Fair Value Disclosures [Line Items]
Impairment of convertible debt investment		5
Available-for-sale debt securities
Fair Value Disclosures [Line Items]
Impairment of convertible debt investment	0	$ 5
Other Assets
Fair Value Disclosures [Line Items]
Other equity investments without readily determinable fair values	33
Significant other observable inputs (Level 2)
Fair Value Disclosures [Line Items]
Money market funds, at carrying value	$ 427		$ 1,630

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Contingent payments related to acquisitions
Contingent payments related to acquisitions
Fair value at beginning of period	$ 12	$ 19	$ 12	$ 19	$ 14	$ 14	$ 21	$ 84
Change in fair value recognized in earnings			0	(14)
Transfers out of Level 3			0	0
Payments	(2)	(2)	(2)	(51)
Fair value at end of period	12	19	12	19
Available-for-sale debt securities
Available-for-sale debt securities
Fair value at beginning of period	1	17	1	27
Change in fair value recognized in earnings			0	(5)
Transfers out of Level 3			0	(5)
Payments	0	0	0	0
Fair value at end of period	$ 1	$ 17	$ 1	$ 17

FAIR VALUE MEASUREMENTS - Book

FAIR VALUE MEASUREMENTS - Book Values and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Book values
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Current maturities of long-term debt and finance lease obligations	$ 2,498	$ 2,667
Long-term debt and finance lease obligations	10,437	11,089
Fair values
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Current maturities of long-term debt and finance lease obligations	2,493	2,621
Long-term debt and finance lease obligations	$ 9,612	$ 10,026

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 2,699	$ 2,599	$ 7,883	$ 7,634
United States
Segment Reporting Information [Line Items]
Net sales	1,500	1,467	4,340	4,300
International
Segment Reporting Information [Line Items]
Net sales	1,199	1,132	3,543	3,334
Operating Segments | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	1,342	1,258	3,893	3,691
Operating Segments | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	752	744	2,167	2,218
Operating Segments | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	588	580	1,768	1,652
Operating Segments | United States | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	762	709	2,164	2,087
Operating Segments | United States | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	557	551	1,580	1,607
Operating Segments | United States | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	178	195	566	550
Operating Segments | International | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	580	549	1,729	1,604
Operating Segments | International | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	195	193	587	611
Operating Segments | International | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	410	385	1,202	1,102
Operating Segments | Infusion Therapies and Technologies | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	1,070	1,003	3,081	2,918
Operating Segments | Infusion Therapies and Technologies | United States | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	613	570	1,718	1,654
Operating Segments | Infusion Therapies and Technologies | International | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	457	433	1,363	1,264
Operating Segments | Advanced Surgery | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	272	255	812	773
Operating Segments | Advanced Surgery | United States | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	149	139	446	433
Operating Segments | Advanced Surgery | International | Medical Products and Therapies
Segment Reporting Information [Line Items]
Net sales	123	116	366	340
Operating Segments | Care and Connectivity Solutions | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	456	443	1,310	1,307
Operating Segments | Care and Connectivity Solutions | United States | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	335	317	945	926
Operating Segments | Care and Connectivity Solutions | International | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	121	126	365	381
Operating Segments | Front Line Care | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	296	301	857	911
Operating Segments | Front Line Care | United States | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	222	234	635	681
Operating Segments | Front Line Care | International | Healthcare Systems and Technologies
Segment Reporting Information [Line Items]
Net sales	74	67	222	230
Operating Segments | Injectables and Anesthesia | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	321	351	990	987
Operating Segments | Injectables and Anesthesia | United States | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	178	195	566	550
Operating Segments | Injectables and Anesthesia | International | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	143	156	424	437
Operating Segments | Drug Compounding | Pharmaceuticals
Segment Reporting Information [Line Items]
Net sales	267	229	778	665
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	267	229	778	665
Other
Segment Reporting Information [Line Items]
Net sales	17	17	55	73
Other | United States
Segment Reporting Information [Line Items]
Net sales	3	12	30	56
Other | International
Segment Reporting Information [Line Items]
Net sales	$ 14	$ 5	$ 25	$ 17

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 2,699	$ 2,599	$ 7,883	$ 7,634
United States
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	1,500	1,467	4,340	4,300
Emerging Markets
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	347	353	1,001	985
Rest of world
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 852	$ 779	$ 2,542	$ 2,349

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	$ 155	$ 179	$ 449	$ 403
Intangible asset amortization expense	159	147	471	434
Operating income	155	179	449	403
Interest expense, net	87	127	251	367
Other (income) expense, net	(1)	(12)	(34)	15
Income from continuing operations before income taxes	69	64	232	21
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	464	474	1,282	1,336
Operating income	464	474	1,282	1,336
Operating Segments | Medical Products and Therapies
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	268	245	733	706
Operating income	268	245	733	706
Operating Segments | Healthcare Systems and Technologies
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	136	115	323	327
Operating income	136	115	323	327
Operating Segments | Pharmaceuticals
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	58	108	211	284
Operating income	58	108	211	284
Operating Segments | Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total	2	6	15	19
Operating income	2	6	15	19
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Unallocated corporate costs	(73)	(73)	(227)	(285)
Intangible asset amortization expense	(159)	(147)	(471)	(434)
Legal matters	(17)	(13)	(17)	(13)
Business optimization items	(18)	(48)	(49)	(167)
Acquisition and integration items	(5)	(2)	(16)	(2)
European Medical Devices Regulation	(9)	(12)	(25)	(32)
Hurricane Helene costs	(25)	0	(25)	0
Product-related items	$ (3)	$ 0	$ (3)	$ 0