Stock Analysis on Net
Stock Analysis on Net

Baxter International Inc. (NYSE:BAX)

$22.49

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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Baxter International Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Short-term debt
Current maturities of long-term debt and lease obligations
Accounts payable, principally trade
Deferred income taxes
Common stock dividends payable
Employee compensation and withholdings
Property, payroll and certain other taxes
Infusion pump reserves
Business optimization reserves
Accrued rebates
Separation-related reserves
Other
Accounts payable and accrued liabilities
Current income taxes payable
Current liabilities held for disposition
Current liabilities
Long-term debt and lease obligations, excluding current maturities
Pension and other employee benefits
Deferred tax liabilities
Litigation reserves
Infusion pump reserves
Business optimization reserves
Contingent payment liabilities
Other
Other long-term liabilities
Noncurrent liabilities
Total liabilities
Common stock, $1 par value
Common stock in treasury, at cost
Additional contributed capital
Retained earnings
Accumulated other comprehensive income (loss)
Total Baxter shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

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).

Short-term debt
The proportion of short-term debt relative to total liabilities and equity demonstrated a fluctuating pattern, initially declining sharply from 1.34% in 2011 to 0.13% in 2012, then increasing gradually to 8.46% by 2015, indicating a growing reliance on short-term financing towards the end of the period.
Current maturities of long-term debt and lease obligations
This item increased from 1.00% in 2011 to 3.86% in 2015, with some variability, showing a general upward trend that suggests higher portions of long-term debt maturing in the near term.
Accounts payable, principally trade
The ratio trended slightly downwards overall, decreasing from 4.17% in 2011 to 3.41% in 2015, after peaking at 4.88% in 2014, indicating some fluctuation in trade payables but an eventual reduction in relative size.
Deferred income taxes
There was a declining trend from 3.87% in 2011 to a negligible value by 2014, with data missing for 2015, suggesting diminishing deferred tax liabilities or changes in tax-related accounting.
Common stock dividends payable
This balance fluctuated modestly, peaking at 1.21% in 2012 and declining to 0.65% by 2015, indicating relatively stable but decreasing dividend obligations.
Employee compensation and withholdings
A slight decline was observed over the period, from 2.71% in 2011 to 2.29% in 2015, reflecting potentially lower accrued employee-related liabilities.
Property, payroll and certain other taxes
Values remained relatively stable near 0.75-1.01%, without significant changes, indicating steady tax-related accruals in relation to total liabilities and equity.
Reserves including infusion pump, business optimization, and accrued rebates
Reserves showed a general decreasing trend or remained low: infusion pump reserves declined steeply after 2011, business optimization reserves decreased from 0.92% in 2011 to 0.47% in 2015, and accrued rebates dropped from 1.4% to 0.92%, pointing to reduced contingent liabilities or cost-saving measures over time.
Accounts payable and accrued liabilities
This significant category showed a consistent decline from 21.28% in 2011 to 12.71% in 2015, indicating a substantial reduction in these obligations relative to the total, possibly due to improved payment cycles or lower expenses.
Current income taxes payable
The ratio remained relatively stable with minor fluctuations, ending at 2.16% in 2015, indicating consistent tax liabilities within the current liabilities group.
Current liabilities
Current liabilities as a whole showed a variable pattern, declining from 25.47% in 2011 to about 22.83%-23.31% in intermediate years, then increasing to 27.41% in 2015; this increase is likely driven by growth in short-term debt and related payables.
Long-term debt and lease obligations, excluding current maturities
From 24.9% in 2011, an increasing trend up to 31.41% in 2013 was followed by a sharp decline to 18.76% in 2015, suggesting debt restructuring or repayment reducing long-term obligations significantly by the end of the period.
Pension and other employee benefits
There was variability with a peak at 11.9% in 2012, followed by a decline and slight recovery, finishing at 9.73% in 2015, reflecting changes in pension-related liabilities or actuarial assumptions.
Other long-term liabilities
These liabilities remained within the 11.56% to 15.87% range, witnessing a peak in 2014 before declining in 2015, indicating fluctuations in less defined long-term obligations.
Noncurrent liabilities
Noncurrent liabilities increased steadily from 38.74% in 2011 to a peak of 45.22% in 2014, then declined to 30.32% in 2015, consistent with the noted reduction in long-term debt.
Total liabilities
Total liabilities increased slightly from 64.2% in 2011, peaking at 68.53% in 2014, then decreasing sharply to 57.74% in 2015, reflecting overall deleveraging in the final year.
Common stock and treasury stock
Common stock as a share of total liabilities and equity remained relatively stable around 2.64% to 3.58%. However, common stock in treasury showed a persistent negative balance between -30.59% and -37.23%, reflecting significant treasury stock holdings that increased in magnitude in 2015.
Additional contributed capital
This item decreased notably from 30.32% in 2011 to 22.49% in 2013 and 2014, then rose sharply to 28.14% in 2015, suggesting fluctuations in capital contributions or equity transactions.
Retained earnings
Retained earnings showed variability, starting at 49.44%, rising to 53.4% in 2012, then dropping to 45.82% in 2013, recovering to 51.04% in 2014, and decreasing to 46.16% in 2015, indicating volatile earnings retention or dividend distributions.
Accumulated other comprehensive income (loss)
This component exhibited a material negative amount in most years, ranging from -7.64% to -14.08%, but switched to a positive 1.07% in 2015, pointing to improved comprehensive income or changes in other comprehensive income components.
Total shareholders' equity
Equity declined steadily from 34.53% in 2011 to 31.33% in 2014, then increased notably to 42.17% in 2015, indicating an improvement in the equity position, likely related to retained earnings, contributed capital, and accumulated comprehensive income.
Total equity and overall capital structure
Total equity followed a similar pattern to shareholders' equity, declining initially and then rising sharply in 2015 to 42.26%. Consequently, the company’s capital structure improved with a reduced reliance on liabilities, as total liabilities correspondingly decreased in 2015.