Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,726	$ 1,764
Accounts receivable, net of allowances of $69 in 2025 and $71 2024	1,777	1,679
Inventories	2,460	2,046
Prepaid expenses and other current assets	970	753
Current assets of discontinued operations	0	2,611
Total current assets	6,933	8,853
Property, plant and equipment, net	2,812	2,870
Goodwill	5,400	5,275
Other intangible assets, net	4,805	5,223
Operating lease right-of-use assets	270	306
Other non-current assets	847	755
Non-current assets of discontinued operations	0	2,500
Total assets	21,067	25,782
Current liabilities:
Short-term debt	4	2,126
Current maturities of long-term debt and finance lease obligations	751	626
Accounts payable	953	968
Accrued expenses and other current liabilities	2,067	1,861
Current liabilities of discontinued operations	0	930
Total current liabilities	3,775	6,511
Long-term debt and finance lease obligations, less current portion	8,747	10,374
Operating lease liabilities	210	243
Other non-current liabilities	1,121	1,076
Non-current liabilities of discontinued operations	0	554
Total liabilities	13,853	18,758
Commitments and contingencies
Equity:
Common stock, $1 par value, authorized 2,000,000,000 shares, issued 683,494,944 shares in 2025 and 2024	683	683
Common stock in treasury, at cost, 169,548,900 shares in 2025 and 172,567,636 shares in 2024	(10,891)	(11,059)
Additional contributed capital	6,345	6,421
Retained earnings	14,837	14,929
Accumulated other comprehensive loss	(3,733)	(4,010)
Total Baxter stockholders’ equity	7,241	6,964
Noncontrolling interests	(27)	60
Total equity	7,214	7,024
Total liabilities and equity	$ 21,067	$ 25,782