百特国际 2025年季度报告

One Baxter Parkway,Deerfield,Illinois emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act.Large accelerated filerxAccelerated filer Non-accelerated fileroSmaller reporting companyEmerging growth company☐ or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.oIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐Nox Condensed Consolidated Statements of Comprehensive Income (Loss)Condensed Consolidated Statements of Changes in Equity Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash -continuing operations Increase (decrease) in cash, cash equivalents and restricted cash(118)Cash, cash equivalents and restricted cash at beginning of period2,414Cash, cash equivalents and restricted cash at end of period2,296Less cash and cash equivalents of discontinued operations—(1)(1) Cash and cash equivalents$2,294$1,764$Restricted cash included in other non-current assets22 1.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 financialstatements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) in the United Stateshave been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read inconjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the yearended December31, 2024 (2024 Annual Report).In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments (Carlyle) to sell our Kidney Care business. That business, which is now known as Vantive Health LLC (Vantive) iscomprised of our former Kidney Care segment and provides chronic and acute dialysis therapies and services, including peritoneal dialysis, hemodialysis, continuous renal replacement therapies, and other organ support therapies. On January31, 2025, we completed the sale of our Kidney Care business to Carlyle for an aggregate purchase price of $3.80billion incash, subject to certain closing cash, working capital and debt adjustments. After giving effect to certain adjustments, wereceived approximately $3.71billion pre-tax cash proceeds at closing of the transaction with the net after tax proceeds ofapproximately $3.3billion, subject to certain post-closing adjustments. The financial position, results of operations andcash flows of our Kidney Care business, including the gain on sale of that business and the related cash proceeds 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, North Carolina and disrupted operations at that facility. Since then, we have actively worked with customers, regulators and other stakeholders to manage inventoryand minimize disruption to patient care as we worked towards resuming our North Cove manufacturing operations. While we continue to increase allocation levels across key impacted product groups, the facility was fully operational by the endof the first quarter of 2025. In the first quarter of 2025, we recorded $98million of pre-tax net charges related toremediation, air freight and other costs as a result of the damages caused by Hurricane Helene. These amounts wererecorded as a component of cost of sales in the condensed consolidated statements of income for the three month periodended March31, 2025.Risks and Uncertainties implementation of global tariffs and proposed further tariffs (including potential pharmaceutical tariffs), and responses fromother jurisdictions, have significantly affected financial markets and economic conditions. While we are in the process ofimplementing select offsets for 2025 and working to identify Additionally, continued global macroeconomic uncertainty, including in trade policies and practices, elevated tariffs and inoperational and policy changes in the governments of the U.S. and other countries, could contribute to further market may limit our ability to respond to these tariffs with alternative of lower cost raw material or component parts. 2.DISCONTINUED OPERATIONS A component of an entity is reported in discontinued operations after meeting the criteria for held-for-sale classification ifthe disposition represents a strategic shift that has (or will have) a major effect on the entity's operations and financialresults. The condensed consolidated financial statemen