DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Summary of Discontinued Operations

The following table summarizes the major classes of line items included in income (loss) from discontinued operations, net of tax, for the years ended December 31, 2024, 2023 and 2022:

	Kidney Care						BioPharma Solutions						Total
	Year Ended December 31,						Year Ended December 31,						Year Ended December 31,
(in millions)	2024		2023		2022		2024		2023		2022		2024		2023		2022
Net sales	$	4,513	$	4,453	$	4,449	$	—	$	469	$	607	$	4,513	$	4,922	$	5,056
Cost of sales	2,812		3,628		2,932		—		216		276		2,812		3,844		3,208
Gross margin	1,701		825		1,517		—		253		331		1,701		1,078		1,848
Selling, general and administrative expenses	1,203		993		762		—		45		28		1,203		1,038		790
Research and development expenses	181		149		152		—		1		3		181		150		155
Goodwill impairments	430		—		—		—		—		—		430		—		—
Other operating expense (income), net	(1)		—		1		—		—		—		(1)		—		1
Operating income (loss)	(112)		(317)		602		—		207		300		(112)		(110)		902
Interest expense, net	13		3		1		—		(1)		—		13		2		1
Other (income) expense, net	10		25		3		—		1		3		10		26		6
Income (loss) from discontinued operations before gain on disposition and income taxes	(135)		(345)		598		—		207		297		(135)		(138)		895
Gain on disposition	—		—		—		—		2,882		—		—		2,882		—
Income tax expense (benefit)	177		(95)		139		—		357		64		177		262		203
Income (loss) from discontinued operations, net of tax	(312)		(250)		459		—		2,732		233		(312)		2,482		692
Less: Net income attributable to noncontrolling interest included in discontinued operations	11		7		11		—		—		—		11		7		11
Net income (loss) attributable to Baxter stockholders included in discontinued operations	$	(323)	$	(257)	$	448	$	—	$	2,732	$	233	$	(323)	$	2,475	$	681

The following table summarizes the carrying amounts of the major classes of assets and liabilities classified as discontinued operations in the consolidated balance sheets as of December 31, 2024 and 2023:

as of December 31 (in millions)	2024		2023
Cash and cash equivalents	$	648	$	116
Accounts receivable, net of allowances	942		971
Inventories	821		906
Prepaid expenses and other current assets	200		186
Current assets of discontinued operations	2,611		2,179
Property, plant and equipment, net	1,516		1,562
Goodwill	265		721
Other intangible assets, net	148		161
Operating lease right-of-use assets	204		188
Other non-current assets	367		317
Non-current assets of discontinued operations	2,500		2,949
Assets of discontinued operations	$	5,111	$	5,128
Current maturities of finance lease obligations	$	1	$	1
Accounts payable	344		360
Accrued expenses and other current liabilities	585		679
Current liabilities of discontinued operations	930		1,040
Long-term finance lease obligations, less current portion	37		41
Operating lease liabilities	173		173
Other non-current liabilities	344		337
Non-current liabilities of discontinued operations	554		551
Liabilities of discontinued operations	$	1,484	$	1,591