Stock Analysis on Net
Stock Analysis on Net

Baxter International Inc. (NYSE:BAX)

This company has been moved to the archive! The financial data has not been updated since August 4, 2016.

Common-Size Balance Sheet: Assets 

Baxter International Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Cash and equivalents 10.55 11.29 10.56 16.04 15.23
Accounts and other current receivables, net 8.25 10.82 11.25 11.89 12.69
Inventories 7.65 13.73 13.53 13.75 13.78
Short-term deferred income taxes 0.00 1.93 1.52 1.69 1.55
Prepaid valuation added taxes 0.56 0.00 0.00 0.00 0.00
Prepaid income taxes 1.44 0.00 0.00 0.00 0.00
Other 2.07 2.17 1.81 2.05 2.11
Prepaid expenses and other 4.08% 2.17% 1.81% 2.05% 2.11%
Investment in Baxalta common stock 24.54 0.00 0.00 0.00 0.00
Current assets held for disposition 1.17 0.00 0.00 0.00 0.00
Current assets 56.24% 39.94% 38.67% 45.41% 45.35%
Property, plant and equipment, net 20.91 33.56 30.28 29.91 28.97
Goodwill 12.81 14.95 16.25 12.27 12.15
Other intangible assets, net 6.43 8.02 8.87 3.99 4.33
Deferred income taxes 1.69 1.05 3.39 5.67 5.89
Other long-term receivables 0.84 0.49 0.83 0.76 1.02
Other 1.08 1.99 1.71 1.99 2.29
Other long-term assets 3.61% 3.53% 5.93% 8.42% 9.20%
Non-current assets 43.76% 60.06% 61.33% 54.59% 54.65%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

Cash and equivalents
The proportion of cash and equivalents relative to total assets declined from 15.23% in 2011 to 10.55% in 2015, showing a general decreasing trend with a somewhat stable range between 10.5% and 16%.
Accounts and other current receivables, net
There was a steady decline in the percentage of accounts and other current receivables from 12.69% in 2011 to 8.25% in 2015, indicating a reduction in receivables as a share of total assets over the period.
Inventories
Inventories remained relatively stable around 13.5% of total assets from 2011 through 2014 but sharply decreased to 7.65% in 2015, suggesting a significant inventory reduction in the final year of the period.
Short-term deferred income taxes
This category was fairly stable between 1.5% and 2.0% from 2011 to 2014, with no data reported in 2015.
Prepaid valuation added taxes and Prepaid income taxes
Both items appeared only in 2015 at low percentages of total assets (0.56% and 1.44% respectively), indicating new recognition or categorization of these prepaid tax assets during the final year.
Other (current assets)
The proportion under "Other" fluctuated slightly but stayed near 2% through the years. A notable increase in prepaid expenses and other current assets occurred in 2015, reaching 4.08%, which may reflect changes in asset composition.
Investment in Baxalta common stock and Current assets held for disposition
Both items appeared for the first time in 2015, constituting sizeable shares of total assets at 24.54% and 1.17% respectively. This signals a significant investment or structural change reflecting the company's asset reallocation.
Current assets, total
The share of total assets classified as current assets declined from around 45% during 2011-2012 to below 40% in 2013-2014, then sharply increased to 56.24% in 2015. This rise is likely linked to the new investments and increased prepaid expenses noted in that year.
Property, plant and equipment, net
The percentage of property, plant, and equipment grew gradually from 28.97% in 2011 to a peak of 33.56% in 2014, before declining markedly to 20.91% in 2015, indicating a potential asset sale, impairment, or reclassification during 2015.
Goodwill
Goodwill as a share of assets increased from about 12% in 2011 to 16.25% in 2013, then decreased to 12.81% by 2015. This pattern reflects possible acquisitions or impairments impacting intangible asset valuations during the period.
Other intangible assets, net
These assets showed an initial increase reaching 8.87% in 2013, followed by a decline to 6.43% by the end of 2015, suggesting amortization or impairment offsetting prior growth.
Deferred income taxes
There was a steady reduction in deferred income taxes from 5.89% in 2011 to 1.05% in 2014, with a slight rebound to 1.69% in 2015, indicating changing tax positions possibly related to asset revaluations or tax strategy adjustments.
Other long-term receivables and Other long-term assets
Other long-term receivables remained low and relatively stable, fluctuating between 0.5% and 1.0%. Other long-term assets declined steadily from 9.2% in 2011 to about 3.6% in 2015, reflecting possible asset sales, amortization, or reclassifications.
Non-current assets, total
Non-current assets increased from 54.65% in 2011 to over 60% in 2013 and 2014, before a steep decline to 43.76% in 2015. The 2015 decrease corresponds with the rise in current assets and investments, signaling a major portfolio shift or asset reclassification during that year.
Total assets
The composition of total assets remained constant at 100% each year, serving as the reference base for all percentage calculations noted above.