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Baxter International BAX Reportable Segment — Acquisition and integration items

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Other financials

Income statement

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Revenue$2.7B+2.9%
Gross profit$891.0M+3.5%
Operating income$66.0M+13.8%
Net income-$15.0M-112%
EPS (diluted)-$0.03-112%

Balance sheet

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Cash & equivalents$2.0B-12.1%
Total debt$224.0M-8.9%
Total equity$6.0B-14.7%
Total assets$19.8B-6.8%

Cash flow

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Operating cash flow$213.0M+210%
CapEx$128.3M+15.0%
Free cash flow$83.0M-42.1%

Valuation

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Market cap$14.13B+22.3%
Enterprise value$12.33B+22.1%
P/S1.3×+0.2×

Profitability

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Gross margin30.1%-5.9pp
Operating margin-2.7%
Net margin-9.7%+62.5pp
FCF margin3%-2.4pp

Returns & leverage

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Return on equity-16.7%-76.7pp
Debt / equity0.0×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Baxter International in its filing.

Tagged under the XBRL concept us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed.

The source filing: Baxter International’s 10-K, filed February 12, 2026.

Filed
Feb 12, 2026, 4:46 PM EST
Fiscal year
FY2025
Accession
0001628280-26-007733
for the years ended December 31 (in millions)202520242023
Indefinite-lived asset impairments(290)(50)
Separation-related costs(58)
Legal matters(11)(17)(7)
Acquisition and integration items(27)(23)
Product-related reserves(113)(15)
Hurricane Helene Costs(133)(110)
Goodwill impairments(485)(425)
Gain on sale of long-lived asset16

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Baxter International's reportable segment — acquisition and integration items?
Baxter International (BAX) reported reportable segment — acquisition and integration items of -$6.75M in Q4 2025.
How has Baxter International's reportable segment — acquisition and integration items changed year-over-year?
Baxter International's reportable segment — acquisition and integration items decreased by 17.4% year-over-year, from -$5.75M to -$6.75M.
What is the long-term trend for Baxter International's reportable segment — acquisition and integration items?
Over 3 years (2022 to 2025), Baxter International's reportable segment — acquisition and integration items has grown at a -49.8% compound annual growth rate (CAGR), from -$213M to -$27M.
What does reportable segment — acquisition and integration items mean?
These are costs incurred to acquire, integrate, and harmonize the operations of newly purchased businesses. This includes professional fees, system migration costs, and personnel-related expenses associated with merging corporate cultures and infrastructures.

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