SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

The following tables present our U.S. and International disaggregated net sales. Intersegment sales are eliminated in consolidation.


for the years ended December 31	2023						2022						2021
(in millions)	U.S.		International		Total		U.S.		International		Total		U.S.		International		Total
Infusion Therapies and Technologies	$	2,227	$	1,733	$	3,960	$	2,241	$	1,576	$	3,817	$	2,202	$	1,642	$	3,844
Advanced Surgery	582		469		1,051		574		424		998		545		432		977
Medical Products and Therapies	2,809		2,202		5,011		2,815		2,000		4,815		2,747		2,074		4,821
Care and Connectivity Solutions	1,263		537		1,800		1,295		496		1,791		98		44		142
Front Line Care	905		308		1,213		840		308		1,148		51		19		70
Healthcare Systems and Technologies	2,168		845		3,013		2,135		804		2,939		149		63		212
Injectables and Anesthesia	759		588		1,347		682		623		1,305		753		637		1,390
Drug Compounding	—		902		902		—		821		821		—		901		901
Pharmaceuticals	759		1,490		2,249		682		1,444		2,126		753		1,538		2,291
Chronic Therapies1	927		2,756		3,683		923		2,791		3,714		869		2,993		3,862
Acute Therapies1	271		499		770		263		472		735		308		512		820
Kidney Care	1,198		3,255		4,453		1,186		3,263		4,449		1,177		3,505		4,682
Other1	66		21		87		137		40		177		112		28		140
Total Baxter	$	7,000	$	7,813	$	14,813	$	6,955	$	7,551	$	14,506	$	4,938	$	7,208	$	12,146

1In connection with our segment change in the third quarter of 2023, we reclassified $16 million of sales from the first half of 2023, $34 million of sales for the year ended December 31, 2022 and $38 million of sales for the year ended December 31, 2021 from Chronic Therapies to Acute Therapies to conform to the current period presentation. Additionally, in connection with the reclassification of our BPS business to discontinued operations during the second quarter of 2023, we reclassified $2 million of contract manufacturing revenues from the first quarter of 2023, $37 million of sales for the year ended December 31, 2022 and $31 million of sales for the year ended December 31, 2021 from BPS to Other (within continuing operations), as the related manufacturing facility was not part of that divestiture transaction.

Revenue from External Customers by Geographic Areas

Our net sales are attributed to the following geographic regions based on the location of the customer.


for the years ended December 31 (in millions)	2023		2022		2021
Net sales:
United States	$	7,000	$	6,955	$	4,938
Emerging markets1	3,319		3,222		3,012
Rest of world 2	4,494		4,329		4,196
Total net sales	$	14,813	$	14,506	$	12,146

1 Emerging markets include sales from our operations in Eastern Europe, the Middle East, Africa, Latin America and Asia (except for Japan).

2 Rest of world includes sales from our operations in Western Europe, Canada, Japan, Australia and New Zealand.

Geographic Information

Our property, plant and equipment and operating lease right-of-use assets, net are attributed to the following geographic regions.


as of December 31 (in millions)	2023		2022
Property, plant and equipment and operating lease right-of-use assets, net:
United States	$	1,995	$	2,011
Emerging markets	1,485		1,492
Rest of world	1,477		1,733
Total property, plant and equipment and operating lease right-of-use assets, net	$	4,957	$	5,236

Reconciliation of Segment Operating Income To Income Before Income Taxes

The following table presents our segment operating income and reconciliations of segment operating income to income (loss) from continuing operations before income taxes.


for the years ended December 31 (in millions)	2023		2022		2021
Medical Products and Therapies	$	972	$	962	$	955
Healthcare Systems and Technologies	483		494		60
Pharmaceuticals	401		391		523
Kidney Care	300		408		488
Other	18		77		59
Total	2,174		2,332		2,085
Unallocated corporate costs	(51)		(54)		(49)
Intangible asset amortization expense	(652)		(753)		(298)
Business optimization items	(534)		(225)		(114)
European Medical Devices Regulation	(48)		(48)		(42)
Long-lived asset impairments	(267)		(344)		—
Separation-related costs	(225)		(7)		—
Legal matters	(7)		—		(13)
Acquisition and integration items	—		(213)		(188)
Product-related items	—		(44)		—
Loss on product divestiture arrangement	—		(54)		—
Goodwill impairments	—		(2,812)		—
Loss on subsidiary liquidation	—		(21)		—
Investigation and related costs	—		—		(31)
Total operating income (loss)	390		(2,243)		1,350
Interest expense, net	442		395		193
Other (income) expense, net	51		12		41
Loss from continuing operations before income taxes	$	(103)	$	(2,650)	$	1,116

Additional financial information for our segments is as follows:


for the years ended December 31 (in millions)	2023		2022		2021
Depreciation Expense1:
Medical Products and Therapies	$	202	$	204	$	213
Healthcare Systems and Technologies	91		95		3
Pharmaceuticals	41		57		71
Kidney Care	277		271		282

Total depreciation expense	$	611	$	627	$	569

1 Depreciation expense related to Corporate property, plant and equipment has been fully allocated to our segments and those allocations are reflected in the depreciation amounts presented herein.