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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2025
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, restricted stock units (RSUs) and performance share units (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 June 30,Six Months Ended June 30,
(in millions)2025202420252024
Income (loss) from continuing operations$122 $95 $186 $101 
Less: Net income attributable to noncontrolling interests included in continuing operations— — — — 
Income (loss) from continuing operations attributable to Baxter stockholders122 95 186 101 
Income (loss) from discontinued operations(31)(406)31 (373)
Less: Net income attributable to noncontrolling interests included in discontinued operations— 3 — 5 
Income (loss) from discontinued operations attributable to Baxter stockholders(31)(409)31 (378)
Net income (loss) attributable to Baxter stockholders$91 $(314)$217 $(277)

The following table is a reconciliation of basic shares and diluted shares.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2025202420252024
Basic shares513 510 512 509 
Effect of dilutive securities1 1 2 1 
Diluted shares514 511 514 510 
The effect of dilutive securities includes unexercised stock options, unvested RSUs and contingently issuable shares related to granted PSUs. The computation of diluted EPS excludes 20 million shares issuable under equity awards for the three and six months ended June 30, 2025, respectively, and 22 million and 19 million shares issuable under equity awards for the three and six months ended June 30, 2024, respectively, because their inclusion would have had an anti-dilutive effect on diluted EPS.