1-4448 | 36-0781620 | |
(Commission File Number) | (IRS Employer Identification No.) |
One Baxter Parkway, Deerfield, Illinois | 60015-4633 | |
(Address of principal executive offices) | (Zip Code) |
BAXTER INTERNATIONAL INC. |
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By: | /s/ Stephanie A. Shinn | |||
Stephanie A. Shinn | ||||
Corporate Vice President, Associate General Counsel and Corporate Secretary |
Exhibit No. | Description |
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99.1
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Press Release dated April 21, 2011. |
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Baxter International Inc. One Baxter Parkway Deerfield, IL 60015 |
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| The launch of the first and only 30-gram dose vial for GAMMAGARD LIQUID (marketed as KIOVIG in Europe) in the United States. This new dosage form is the most frequently prescribed dose and is expected to enhance convenience for patients. | ||
| The expanded approval throughout Europe of PREFLUCEL, a seasonal influenza vaccine, under the European repeat mutual recognition procedure (rMRP) by the Austrian Agency for Health and Food Safety. PREFLUCEL is manufactured using Vero cell technology, Baxters proprietary technology platform, offering an innovative method of vaccine production compared to conventional embryonated chicken egg production. The 13 participating European Union countries will formally implement the license on a national level to make PREFLUCEL available for the 2011-12 influenza season. | ||
| The launch of OLIMEL parenteral nutrition solution in Canada. OLIMEL, which is also available throughout Europe, is the countrys first triple-chamber container for parenteral nutrition, providing adult patients with the essential ingredients of balanced nutrition protein, carbohydrates and lipids (fats) in a single container, simplifying the preparation of parenteral nutrition for hospitalized patients. | ||
| The submission of a Biological License Application to the U.S. Food and Drug Administration (FDA) for TISSEEL [Fibrin Sealant (Human)] as a hemostatic agent in vascular surgery. TISSEEL is a fibrin sealant currently indicated for use as an adjunct to hemostasis in surgeries involving cardiopulmonary bypass and treatment of blunt or penetrating splenic injuries when control of bleeding by conventional surgical techniques and cautery is ineffective or impractical. | ||
| The presentation of results of a phase III study evaluating the safety and efficacy of ARTISS [Fibrin Sealant (Human)] in 75 patients. ARTISS is a fibrin sealant currently indicated to adhere autologous skin grafts to surgically prepared wound beds, resulting from burns in adult and pediatric |
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populations greater than or equal to one year of age. Baxter currently has an efficacy supplement application pending with the FDA for an indication extension for use in facelift surgery. |
| The announcement of a definitive agreement to acquire privately-held Prism Pharmaceuticals, Inc., a specialty pharmaceutical company based in King of Prussia, PA. Prism Pharmaceuticals has developed and received FDA approval for multiple presentations of NEXTERONE® (amiodarone HCl), an antiarrhythmic agent, including the first and only ready-to-use premixed IV formulations, making this life-saving medication readily available in critical-care, time-sensitive circumstances. |
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Three Months Ended | ||||||||||||
March 31, | ||||||||||||
2011 | 2010 | Change | ||||||||||
NET SALES |
$ | 3,284 | $ | 2,927 | A | 12% | ||||||
COST OF SALES |
1,609 | 1,884 | A | (15% | ) | |||||||
GROSS MARGIN |
1,675 | 1,043 | 61% | |||||||||
% of Net Sales |
51.0% | 35.6% | 15.4 pts | |||||||||
MARKETING AND ADMINISTRATIVE EXPENSES |
716 | 683 | 5% | |||||||||
% of Net Sales |
21.8% | 23.3% | (1.5 pts) | |||||||||
RESEARCH AND DEVELOPMENT EXPENSES |
214 | 227 | (6% | ) | ||||||||
% of Net Sales |
6.5% | 7.8% | (1.3 pts) | |||||||||
NET INTEREST EXPENSE |
10 | 19 | (47% | ) | ||||||||
OTHER EXPENSE, NET |
4 | 2 | 100% | |||||||||
PRE-TAX INCOME |
731 | 112 | N/M | |||||||||
INCOME TAX EXPENSE |
154 | 172 | B | (10% | ) | |||||||
% of Pre-Tax Income |
21.1% | 153.6% | (132.5 pts) | |||||||||
NET INCOME (LOSS) |
577 | (60 | ) | N/M | ||||||||
LESS: NONCONTROLLING INTERESTS |
7 | 3 | 133% | |||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO BAXTER |
$ | 570 | $ | (63 | ) | N/M | ||||||
BASIC EPS |
$ | 0.99 | $ | (0.11 | ) | N/M | ||||||
DILUTED EPS |
$ | 0.98 | $ | (0.11 | ) | N/M | ||||||
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING |
||||||||||||
Basic |
577 | 602 | ||||||||||
Diluted |
581 | 602 | ||||||||||
ADJUSTED PRE-TAX INCOME (excluding specified items) |
$ | 731 | $ | 700 | C | 4% | ||||||
ADJUSTED NET INCOME ATTRIBUTABLE TO BAXTER (excluding specified items) |
$ | 570 | $ | 564 | C | 1% | ||||||
ADJUSTED DILUTED EPS (excluding specified items) |
$ | 0.98 | $ | 0.93 | C | 5% |
A | Net sales and cost of sales in 2010 included a charge totaling $588 million, or $0.97 per diluted share, which related to the recall of COLLEAGUE infusion pumps from the U.S. market and other actions the company is undertaking outside of the United States, for which there was no net tax benefit recognized. | |
B | Income tax expense in 2010 included a charge of $39 million, or $0.07 per diluted share, to write off a deferred tax asset as a result of a change in the tax treatment of reimbursements under the Medicare Part D retiree prescription drug subsidy program. | |
C | Refer to page 8 for a description of the adjustments and a reconciliation to generally accepted accounting principles (GAAP) measures. |
Three Months Ended March 31, | ||||||||||||||||||||
2011 | 2010 | |||||||||||||||||||
Total | Excluding | |||||||||||||||||||
specified | specified | |||||||||||||||||||
GAAP | 1 | GAAP | items | 2 | items | Change | 3 | |||||||||||||
NET SALES |
$ | 3,284 | $ | 2,927 | $ | 213 | $ | 3,140 | 5% | |||||||||||
COST OF SALES |
1,609 | 1,884 | (375 | ) | 1,509 | 7% | ||||||||||||||
GROSS MARGIN |
1,675 | 1,043 | 588 | 1,631 | 3% | |||||||||||||||
% of Net Sales |
51.0% | 35.6% | 51.9% | (0.9 pts) | ||||||||||||||||
MARKETING AND ADMINISTRATIVE EXPENSES |
716 | 683 | | 683 | 5% | |||||||||||||||
% of Net Sales |
21.8% | 23.3% | 21.8% | 0 pts | ||||||||||||||||
RESEARCH AND DEVELOPMENT EXPENSES |
214 | 227 | | 227 | (6% | ) | ||||||||||||||
% of Net Sales |
6.5% | 7.8% | 7.2% | (0.7 pts) | ||||||||||||||||
NET INTEREST EXPENSE |
10 | 19 | | 19 | (47% | ) | ||||||||||||||
OTHER EXPENSE, NET |
4 | 2 | | 2 | 100% | |||||||||||||||
PRE-TAX INCOME |
731 | 112 | 588 | 700 | 4% | |||||||||||||||
INCOME TAX EXPENSE |
154 | 172 | (39 | ) | 133 | 16% | ||||||||||||||
% of Pre-Tax Income |
21.1% | 153.6% | 19.0% | 2.1 pts | ||||||||||||||||
NET INCOME (LOSS) |
577 | (60 | ) | 627 | 567 | 2% | ||||||||||||||
LESS: NONCONTROLLING INTERESTS |
7 | 3 | | 3 | 133% | |||||||||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO BAXTER |
$ | 570 | $ | (63 | ) | $ | 627 | $ | 564 | 1% | ||||||||||
BASIC EPS |
$ | 0.99 | $ | (0.11 | ) | $ | 1.05 | $ | 0.94 | 5% | ||||||||||
DILUTED EPS |
$ | 0.98 | $ | (0.11 | ) | $ | 1.04 | $ | 0.93 | 5% | ||||||||||
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | ||||||||||||||||||||
Basic |
577 | 602 | 602 | |||||||||||||||||
Diluted |
581 | 602 | 4 | 609 | 4 | |||||||||||||||
1 | There were no specified items included in the 2011 GAAP results. | |
2 | Net sales and cost of sales in 2010 included a charge totaling $588 million, or $0.97 per diluted share, which related to the recall of COLLEAGUE infusion pumps from the U.S. market and other actions the company is undertaking outside of the United States, for which there was no net tax benefit recognized. Income tax expense in 2010 included a charge of $39 million, or $0.07 per diluted share, to write off a deferred tax asset as a result of a change in the tax treatment of reimbursements under the Medicare Part D retiree prescription drug subsidy program. | |
3 | Represents the percentage change between the 2011 GAAP results and 2010 results excluding specified items. | |
4 | The denominator used to calculate the GAAP diluted earnings per share in 2010 excluded the dilutive effect of 7 million common stock equivalents because the impact of the specified items resulted in a net loss attributable to Baxter. |
For more information on the companys use of non-GAAP financial measures in this press release, please see the companys Current Report on Form 8-K filed with the Securities and Exchange Commission on the date of this press release. |
Cash Flows from Operations | ||||||||||||||
(Brackets denote cash outflows) | ||||||||||||||
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2011 | 2010 | |||||||||||||
Net income (loss) |
$ | 577 | $ | (60 | ) | |||||||||
Adjustments |
||||||||||||||
Depreciation and amortization |
158 | 166 | ||||||||||||
Deferred income taxes |
91 | 91 | A | |||||||||||
Stock compensation |
28 | 30 | ||||||||||||
Realized excess tax benefits from stock issued
under employee benefit plans |
(5 | ) | (31 | ) | ||||||||||
COLLEAGUE infusion pump charge |
| 588 | ||||||||||||
Other |
8 | 9 | ||||||||||||
Changes in balance sheet items |
||||||||||||||
Accounts and other current receivables |
(68 | ) | (33 | ) | ||||||||||
Inventories |
(61 | ) | (94 | ) | ||||||||||
Accounts payable and accrued liabilities |
(135 | ) | (101 | ) | ||||||||||
Business optimization and infusion pump payments |
(60 | ) | (23 | ) | ||||||||||
Other |
(162 | ) B | (263 | ) B | ||||||||||
Cash flows from operations |
$ | 371 | $ | 279 | ||||||||||
Changes in Net Debt |
||||||||||||||
Increase (decrease) |
||||||||||||||
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2011 | 2010 | |||||||||||||
Net debt, beginning of period |
$ | 1,702 | $ | 1,365 | ||||||||||
Cash flows from operations |
(371 | ) | (279 | ) | ||||||||||
Capital expenditures |
198 | 230 | ||||||||||||
Dividends |
180 | 174 | ||||||||||||
Proceeds from stock issued under employee benefit plans |
(129 | ) | (140 | ) | ||||||||||
Purchases of treasury stock |
637 | 435 | ||||||||||||
Acquisitions and investments |
14 | 234 | C | |||||||||||
Other, including the effect of exchange rate changes |
(25 | ) | 61 | |||||||||||
Increase in net debt |
504 | 715 | ||||||||||||
Net debt, March 31 |
$ | 2,206 | $ | 2,080 | ||||||||||
March 31, 2011 | March 31, 2010 | |||||||||||||
Key statistics, March 31: |
GAAP | GAAP | Adjusted | |||||||||||
Days sales outstanding (DSO) |
56.0 | 58.5 | D | 53.1 | D | |||||||||
Inventory turns |
2.4 | 2.9 | E | 2.2 | E | |||||||||
Selected balance sheet information: |
March 31, 2011 | December 31, 2010 | ||||||||||||
Cash and equivalents |
$ | 2,168 | $ | 2,685 | ||||||||||
Accounts and other current receivables |
$ | 2,399 | $ | 2,265 | ||||||||||
Inventories |
$ | 2,517 | $ | 2,371 | ||||||||||
Accounts payable and accrued liabilities |
$ | 3,866 | $ | 4,017 | ||||||||||
A | Deferred income taxes in 2010 included a charge of $39 million to write off a deferred tax asset as a result of a change in the tax treatment of reimbursements under the Medicare Part D retiree prescription drug subsidy program. | |
B | Other cash flows from operations included planned contributions to the companys pension plan in the United States of $150 million and $300 million in 2011 and 2010, respectively. | |
C | Acquisitions and investments in 2010 related to the acquisition of ApaTech Limited, an orthobiologic products company based in the United Kingdom. | |
D | DSO in 2010 included the unfavorable impact of the COLLEAGUE infusion pump charge, which increased DSO by 5.4 days. | |
E | Inventory turns in 2010 included the favorable impact of the COLLEAGUE infusion pump charge, which increased total company inventory turns by 0.7. |
Q1 | Q1 | % Growth @ | % Growth @ | ||||||||||||||||
2011 | 2010 | Actual Rates | Constant Rates | ||||||||||||||||
BioScience |
|||||||||||||||||||
United States |
$ | 684 | $ | 610 | 12% | 12% | |||||||||||||
International |
724 | 752 | (4% | ) | (2% | ) | |||||||||||||
Total BioScience |
$ | 1,408 | $ | 1,362 | 3% | 4% | |||||||||||||
Medical Products 1 |
|||||||||||||||||||
United States 2 |
$ | 730 | $ | 674 | 8% | 8% | |||||||||||||
International |
1,138 | 1,092 | 4% | 3% | |||||||||||||||
Total Medical Products - Adjusted 2 |
$ | 1,868 | $ | 1,766 | 6% | 5% | |||||||||||||
COLLEAGUE infusion pump charge 2 |
(213 | ) | |||||||||||||||||
Total Medical Products - GAAP 2 |
$ | 1,868 | $ | 1,553 | 20% | 19% | |||||||||||||
Transfusion Therapies 3 |
|||||||||||||||||||
United States |
$ | 8 | $ | 9 | (11% | ) | (11% | ) | |||||||||||
International |
| 3 | (100% | ) | (100% | ) | |||||||||||||
Total Transfusion Therapies |
$ | 8 | $ | 12 | (33% | ) | (33% | ) | |||||||||||
Baxter International Inc. |
|||||||||||||||||||
United States 2 |
$ | 1,422 | $ | 1,293 | 10% | 10% | |||||||||||||
International |
1,862 | 1,847 | 1% | 1% | |||||||||||||||
Total Baxter - Adjusted 2 |
$ | 3,284 | $ | 3,140 | 5% | 5% | |||||||||||||
COLLEAGUE infusion pump charge 2 |
(213 | ) | |||||||||||||||||
Total Baxter - GAAP 2 |
$ | 3,284 | $ | 2,927 | 12% | 12% | |||||||||||||
1 | Medical Products represents the combination of the companys former Medication Delivery and Renal businesses into a single global business unit. Effective January 1, 2011, the company changed its segment presentation to reflect this new structure, and recast all prior periods presented to conform to the new presentation. | |
2 | GAAP net sales in 2010 included a charge of $213 million related to the recall of COLLEAGUE infusion pumps. Refer to page 14 for a reconciliation to GAAP measures. | |
3 | Represents revenues associated with manufacturing, distribution and other services provided by the company to the buyer of the Transfusion Therapies (TT) business after the February 2007 divestiture. |
GAAP | GAAP | % Growth @ | % Growth @ | ||||||||||||||||
Q1 2011 | Q1 2010 | Actual Rates | Constant Rates | ||||||||||||||||
BioScience |
|||||||||||||||||||
Recombinants |
$ | 512 | $ | 510 | 0% | 1% | |||||||||||||
Plasma Proteins |
308 | 292 | 5% | 8% | |||||||||||||||
Antibody Therapy |
374 | 322 | 16% | 18% | |||||||||||||||
Regenerative Medicine |
140 | 119 | 18% | 18% | |||||||||||||||
Other 1 |
74 | 119 | (38% | ) | (39% | ) | |||||||||||||
Total BioScience |
$ | 1,408 | $ | 1,362 | 3% | 4% | |||||||||||||
Medical Products 2 |
|||||||||||||||||||
Renal |
$ | 587 | $ | 584 | 1% | (1% | ) | ||||||||||||
Global Injectables |
517 | 451 | 15% | 14% | |||||||||||||||
IV Therapies |
428 | 391 | 9% | 10% | |||||||||||||||
Infusion Systems 3 |
211 | (4 | ) | N/M | N/M | ||||||||||||||
Anesthesia |
118 | 127 | (7% | ) | (7% | ) | |||||||||||||
Other |
7 | 4 | 75% | 17% | |||||||||||||||
Total Medical Products 3 |
$ | 1,868 | $ | 1,553 | 20% | 19% | |||||||||||||
Transfusion Therapies 4 |
$ | 8 | $ | 12 | (33% | ) | (33% | ) | |||||||||||
Total Baxter 3 |
$ | 3,284 | $ | 2,927 | 12% | 12% | |||||||||||||
1 | Principally includes vaccines and sales of plasma to third parties. | |
2 | Medical Products represents the combination of the companys former Medication Delivery and Renal businesses into a single global business unit. Effective January 1, 2011, the company changed its segment presentation to reflect this new structure, and recast all prior periods presented to conform to the new presentation. | |
3 | GAAP net sales in 2010 included a charge of $213 million related to the recall of COLLEAGUE infusion pumps. Refer to page 14 for a reconciliation to GAAP measures. | |
4 | Represents revenues associated with manufacturing, distribution and other services provided by the company to the buyer of the TT business after the February 2007 divestiture. |
Adjusted | Adjusted | ||||||||||||||||||
GAAP | Adjusted | % Growth @ | % Growth @ | ||||||||||||||||
Q1 2011 | 1 | Q1 2010 | Actual Rates | Constant Rates | |||||||||||||||
BioScience |
|||||||||||||||||||
Recombinants |
$ | 512 | $ | 510 | 0% | 1% | |||||||||||||
Plasma Proteins |
308 | 292 | 5% | 8% | |||||||||||||||
Antibody Therapy |
374 | 322 | 16% | 18% | |||||||||||||||
Regenerative Medicine |
140 | 119 | 18% | 18% | |||||||||||||||
Other 2 |
74 | 119 | (38% | ) | (39% | ) | |||||||||||||
Total BioScience |
$ | 1,408 | $ | 1,362 | 3% | 4% | |||||||||||||
Medical Products 3 |
|||||||||||||||||||
Renal |
$ | 587 | $ | 584 | 1% | (1% | ) | ||||||||||||
Global Injectables |
517 | 451 | 15% | 14% | |||||||||||||||
IV Therapies |
428 | 391 | 9% | 10% | |||||||||||||||
Infusion Systems - Adjusted 4 |
211 | 209 | 1% | 0% | |||||||||||||||
Anesthesia |
118 | 127 | (7% | ) | (7% | ) | |||||||||||||
Other |
7 | 4 | 75% | 17% | |||||||||||||||
Total Medical Products - Adjusted 4 |
$ | 1,868 | $ | 1,766 | 6% | 5% | |||||||||||||
Transfusion Therapies 5 |
$ | 8 | $ | 12 | (33% | ) | (33% | ) | |||||||||||
Total Baxter - Adjusted 4 |
$ | 3,284 | $ | 3,140 | 5% | 5% | |||||||||||||
1 | There were no adjustments included in the 2011 GAAP results. | |
2 | Principally includes vaccines and sales of plasma to third parties. | |
3 | Medical Products represents the combination of the companys former Medication Delivery and Renal businesses into a single global business unit. Effective January 1, 2011, the company changed its segment presentation to reflect this new structure, and recast all prior periods presented to conform to the new presentation. | |
4 | Adjusted net sales in 2010 excluded a charge of $213 million related to the recall of COLLEAGUE infusion pumps. Refer to page 14 for a reconciliation to GAAP measures. | |
5 | Represents revenues associated with manufacturing, distribution and other services provided by the company to the buyer of the TT business after the February 2007 divestiture. |
GAAP | Adjusted | Adjusted | |||||||||||||||||||||||||||||||||||||||
Q1 2011 1 | Q1 2010 | % Growth | |||||||||||||||||||||||||||||||||||||||
U.S. | International | Total | U.S. | International | Total | U.S. | International | Total | |||||||||||||||||||||||||||||||||
BioScience |
|||||||||||||||||||||||||||||||||||||||||
Recombinants |
$ | 231 | $ | 281 | $ | 512 | $ | 222 | $ | 288 | $ | 510 | 4% | (2% | ) | 0% | |||||||||||||||||||||||||
Plasma Proteins |
102 | 206 | 308 | 94 | 198 | 292 | 9% | 4% | 5% | ||||||||||||||||||||||||||||||||
Antibody Therapy |
265 | 109 | 374 | 223 | 99 | 322 | 19% | 10% | 16% | ||||||||||||||||||||||||||||||||
Regenerative Medicine |
78 | 62 | 140 | 62 | 57 | 119 | 26% | 9% | 18% | ||||||||||||||||||||||||||||||||
Other 2 |
8 | 66 | 74 | 9 | 110 | 119 | (11% | ) | (40% | ) | (38% | ) | |||||||||||||||||||||||||||||
Total BioScience |
$ | 684 | $ | 724 | $ | 1,408 | $ | 610 | $ | 752 | $ | 1,362 | 12% | (4% | ) | 3% | |||||||||||||||||||||||||
Medical Products 3 |
|||||||||||||||||||||||||||||||||||||||||
Renal |
$ | 96 | $ | 491 | $ | 587 | $ | 95 | $ | 489 | $ | 584 | 1% | 0% | 1% | ||||||||||||||||||||||||||
Global Injectables |
291 | 226 | 517 | 250 | 201 | 451 | 16% | 12% | 15% | ||||||||||||||||||||||||||||||||
IV Therapies |
148 | 280 | 428 | 124 | 267 | 391 | 19% | 5% | 9% | ||||||||||||||||||||||||||||||||
Infusion Systems - Adjusted 4 |
124 | 87 | 211 | 122 | 87 | 209 | 1% | 0% | 1% | ||||||||||||||||||||||||||||||||
Anesthesia |
70 | 48 | 118 | 82 | 45 | 127 | (15% | ) | 7% | (7% | ) | ||||||||||||||||||||||||||||||
Other |
1 | 6 | 7 | 1 | 3 | 4 | 0% | 100% | 75% | ||||||||||||||||||||||||||||||||
Total Medical Products - Adjusted 4 |
$ | 730 | $ | 1,138 | $ | 1,868 | $ | 674 | $ | 1,092 | $ | 1,766 | 8% | 4% | 6% | ||||||||||||||||||||||||||
Transfusion Therapies 5 |
$ | 8 | $ | | $ | 8 | $ | 9 | $ | 3 | $ | 12 | (11% | ) | (100% | ) | (33% | ) | |||||||||||||||||||||||
Total Baxter - Adjusted 4 |
$ | 1,422 | $ | 1,862 | $ | 3,284 | $ | 1,293 | $ | 1,847 | $ | 3,140 | 10% | 1% | 5% | ||||||||||||||||||||||||||
1 | There were no adjustments included in the 2011 GAAP results. | |
2 | Principally includes vaccines and sales of plasma to third parties. | |
3 | Medical Products represents the combination of the companys former Medication Delivery and Renal businesses into a single global business unit. Effective January 1, 2011, the company changed its segment presentation to reflect this new structure, and recast all prior periods presented to conform to the new presentation. | |
4 | Adjusted net sales in 2010 excluded a charge of $213 million related to the recall of COLLEAGUE infusion pumps. Refer to Page 14 for a reconciliation to GAAP measures. | |
5 | Represents revenues associated with manufacturing, distribution and other services provided by the company to the buyer of the TT business after the February 2007 divestiture. |
% Growth @ | % Growth @ | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Q1 2011 | Q1 2010 | Actual Rates | Constant Rates | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. | International | Total | U.S. | International | Total | U.S. | International | Total | U.S. | International | Total | ||||||||||||||||||||||||||||||||||||||||||
Infusion Systems - GAAP |
$ | 124 | $ | 87 | $ | 211 | $ | (91 | ) | $ | 87 | $ | (4 | ) | N/M | 0% | N/M | N/M | |||||||||||||||||||||||||||||||||||
COLLEAGUE infusion pump charge |
213 | 213 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Infusion Systems - Adjusted |
$ | 124 | $ | 87 | $ | 211 | $ | 122 | $ | 87 | $ | 209 | 1% | 0% | 1% | 0% | |||||||||||||||||||||||||||||||||||||
Total Medical Products - GAAP |
$ | 730 | $ | 1,138 | $ | 1,868 | $ | 461 | $ | 1,092 | $ | 1,553 | 58% | 4% | 20% | 58% | 3% | 19% | |||||||||||||||||||||||||||||||||||
COLLEAGUE infusion pump charge |
213 | 213 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Medical Products - Adjusted |
$ | 730 | $ | 1,138 | $ | 1,868 | $ | 674 | $ | 1,092 | $ | 1,766 | 8% | 4% | 6% | 8% | 3% | 5% | |||||||||||||||||||||||||||||||||||
Total Baxter - GAAP |
$ | 1,422 | $ | 1,862 | $ | 3,284 | $ | 1,080 | $ | 1,847 | $ | 2,927 | 32% | 1% | 12% | 32% | 1% | 12% | |||||||||||||||||||||||||||||||||||
COLLEAGUE infusion pump charge |
213 | 213 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Baxter - Adjusted |
$ | 1,422 | $ | 1,862 | $ | 3,284 | $ | 1,293 | $ | 1,847 | $ | 3,140 | 10% | 1% | 5% | 10% | 1% | 5% | |||||||||||||||||||||||||||||||||||
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