The company said global net sales for 2023 totaled $14.81 billion, up 2% from 2022 on a reported basis and 3% on a constant currency basis. International sales totaled $7.81 billion, and U.S. sales totaled $7.00 billion.

1. 01

   The company said global net sales for 2023 totaled $14.81 billion, up 2% from 2022 on a reported basis and 3% on a constant currency basis. International sales totaled $7.81 billion, and U.S. sales totaled $7.00 billion.

2. 02

   Baxter said net income attributable to Baxter stockholders for 2023 was $2.66 billion, or $5.25 per diluted share, and its net loss from continuing operations was $(69) million, or $(0.15) per diluted share. It said special items adversely affected results from continuing operations by $1.40 billion.

3. 03

   The company said it completed the sale of its BPS business on September 29, 2023 and received $3.96 billion in cash. It said it reported the $2.88 billion pre-tax gain ($2.59 billion net of tax) from the sale as discontinued operations. It said it repaid $514 million of commercial paper borrowings and $2.28 billion of long-term debt in Q4 2023.

4. 04

   The company said it targets July 2024 for completion of the proposed spinoff of its Kidney Care business. It said Kidney Care segment net sales for 2023 were $4.45 billion, or about 30% of consolidated net sales. It said it incurred pre-tax costs related to the proposed spinoff of $225 million in 2023.

Key figures

Fiscal year ended December 31, 2023

Revenue

$14.8B

Operating income

$390M

Net income

$2.7B

EPS

$5.25

Gross profit

$5.0B

Operating cash flow

$1.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.