Baxter International Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-957	-649	2,656	-2,433	1,284
Depreciation & Amortization	981	997	984	1,072	867
Loss (Gain) From Sale of Assets	-	-	-	75	-
Asset Writedown & Restructuring Costs	802	519	-11	3,165	11
Stock-Based Compensation	117	114	115	140	146
Other Operating Activities	116	74	-2,698	-885	-225
Change in Accounts Receivable	-132	-35	-38	-48	-170
Change in Inventory	-119	-201	-128	-198	-27
Change in Accounts Payable	3	112	92	-67	105
Change in Other Net Operating Assets	140	-112	235	-293	35
Operating Cash Flow	845	1,019	1,726	1,211	2,222
Operating Cash Flow Growth	-17.08%	-40.96%	42.53%	-45.50%	18.95%
Capital Expenditures	-513	-446	-432	-377	-691
Cash Acquisitions	-	-	-	-	-10,502
Sale (Purchase) of Intangibles	-9	-14	-4	-258	-
Investment in Securities	-	34	-	-	-
Other Investing Activities	3,363	-200	3,649	-296	-7
Investing Cash Flow	2,841	-626	3,213	-931	-11,200
Short-Term Debt Issued	-	2,126	-	55	246
Long-Term Debt Issued	1,998	-	-	-	11,903
Total Debt Issued	1,998	2,126	-	55	12,149
Short-Term Debt Repaid	-300	-	-301	-	-
Long-Term Debt Repaid	-5,489	-2,657	-2,634	-954	-2,823
Total Debt Repaid	-5,789	-2,657	-2,935	-954	-2,823
Net Debt Issued (Repaid)	-3,791	-531	-2,935	-899	9,326
Issuance of Common Stock	30	71	95	127	187
Repurchase of Common Stock	-	-	-	-32	-600
Common Dividends Paid	-348	-590	-586	-573	-530
Other Financing Activities	-107	-31	-63	-61	-138
Financing Cash Flow	-4,216	-1,081	-3,489	-1,438	8,245
Foreign Exchange Rate Adjustments	84	-96	26	-76	-47
Net Cash Flow	-446	-784	1,476	-1,234	-780
Free Cash Flow	332	573	1,294	834	1,531
Free Cash Flow Growth	-42.06%	-55.72%	55.16%	-45.53%	32.10%
Free Cash Flow Margin	2.95%	5.39%	12.49%	8.29%	12.61%
Free Cash Flow Per Share	0.65	1.12	2.55	1.66	3.01
Cash Interest Paid	303	401	484	355	145
Cash Income Tax Paid	222	223	174	168	182
Levered Free Cash Flow	2,433	319	1,200	138.38	844.88
Unlevered Free Cash Flow	2,614	574	1,517	396.5	944.25
Change in Working Capital	-108	-236	161	-606	-57

Source: S&P Global Market Intelligence. Standard template. Financial Sources.