Name: Baxter International Inc. (NYSE:BAX) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Baxter International Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012	Dec 31, 2011	Sep 30, 2011	Jun 30, 2011	Mar 31, 2011
Cash and equivalents	2,630)	2,211)	2,213)	1,970)	6,680)	2,530)	2,925)	2,078)	1,866)	2,049)	2,733)	2,376)	5,989)	2,689)	3,270)	3,191)	2,353)	2,272)	2,905)	2,338)	2,018)	2,168)
Accounts and other current receivables, net	1,813)	1,830)	1,731)	1,772)	2,852)	2,599)	2,803)	2,842)	2,914)	2,708)	2,911)	2,766)	2,342)	2,319)	2,425)	2,324)	2,225)	2,341)	2,420)	2,347)	2,491)	2,399)
Inventories	1,591)	1,682)	1,604)	1,696)	3,842)	3,501)	3,559)	3,704)	3,836)	3,748)	3,499)	3,581)	3,069)	2,963)	2,803)	2,831)	2,730)	2,737)	2,628)	2,621)	2,648)	2,517)
Prepaid expenses and other	711)	951)	855)	1,334)	1,123)	1,104)	1,064)	850)	871)	883)	861)	874)	785)	843)	762)	759)	740)	767)	697)	696)	652)	677)
Investment in Baxalta common stock	—)	1,232)	5,148)	4,156)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current assets held for disposition	78)	111)	245)	210)	—)	—)	—)	157)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current assets	6,823)	8,017)	11,796)	11,138)	14,497)	9,734)	10,351)	9,631)	9,487)	9,388)	10,004)	9,597)	12,185)	8,814)	9,260)	9,105)	8,048)	8,117)	8,650)	8,002)	7,809)	7,761)
Property, plant and equipment, net	4,329)	4,403)	4,386)	4,338)	8,967)	8,492)	8,698)	8,448)	8,152)	7,962)	7,832)	7,518)	6,361)	6,205)	6,098)	5,862)	5,623)	5,637)	5,525)	5,426)	5,481)	5,419)
Goodwill	2,658)	2,727)	2,687)	2,720)	3,792)	3,694)	3,874)	4,016)	4,226)	4,227)	4,205)	3,780)	2,498)	2,506)	2,502)	2,498)	2,467)	2,488)	2,317)	2,119)	2,168)	2,060)
Other intangible assets, net	1,254)	1,359)	1,349)	1,408)	2,084)	2,068)	2,079)	2,185)	2,329)	2,268)	2,294)	2,682)	1,053)	1,131)	814)	867)	887)	917)	826)	710)	702)	500)
Other	918)	844)	757)	568)	675)	873)	915)	1,283)	1,435)	1,416)	1,534)	1,673)	1,654)	1,662)	1,716)	1,493)	1,421)	1,625)	1,755)	1,586)	1,581)	1,673)
Other assets	4,830)	4,930)	4,793)	4,696)	6,551)	6,635)	6,868)	7,484)	7,990)	7,911)	8,033)	8,135)	5,205)	5,299)	5,032)	4,858)	4,775)	5,030)	4,898)	4,415)	4,451)	4,233)
Non-current assets	9,159)	9,333)	9,179)	9,034)	15,518)	15,127)	15,566)	15,932)	16,142)	15,873)	15,865)	15,653)	11,566)	11,504)	11,130)	10,720)	10,398)	10,667)	10,423)	9,841)	9,932)	9,652)
Total assets	15,982)	17,350)	20,975)	20,172)	30,015)	24,861)	25,917)	25,563)	25,629)	25,261)	25,869)	25,250)	23,751)	20,318)	20,390)	19,825)	18,446)	18,784)	19,073)	17,843)	17,741)	17,413)

The balance sheet exhibits a period of steady expansion in total assets from March 2011 through June 2015, followed by a significant structural contraction starting in the third quarter of 2015. Total assets grew from 17.4 billion USD in March 2011 to a peak of 30.0 billion USD in June 2015, before declining sharply to 16.0 billion USD by June 2016.

Liquidity and Current Asset Trends: Cash and equivalents remained relatively stable between 2.0 billion USD and 3.3 billion USD for much of the period, with notable spikes occurring in June 2013 (5.99 billion USD) and June 2015 (6.68 billion USD). Accounts receivable showed gradual growth from 2.4 billion USD in 2011 to a peak of 2.9 billion USD in late 2013, before decreasing to approximately 1.8 billion USD by June 2016. Inventories followed a clear upward trajectory, increasing from 2.5 billion USD in March 2011 to a peak of 3.8 billion USD in June 2015, followed by an abrupt reduction to 1.6 billion USD in September 2015.
Fixed and Intangible Asset Growth: Property, plant, and equipment (net) exhibited a consistent upward trend, rising from 5.4 billion USD in early 2011 to 9.0 billion USD in June 2015. A similar growth pattern was observed in goodwill and other intangible assets. A significant increase in these accounts occurred in September 2013, where goodwill rose from 2.5 billion USD to 3.8 billion USD and intangible assets jumped from 1.1 billion USD to 2.7 billion USD, suggesting a major acquisition during that period.
Structural Asset Realignment (2015-2016): A fundamental shift in the asset base is evident starting September 30, 2015. Property, plant, and equipment dropped precipitously from 9.0 billion USD to 4.3 billion USD. Concurrently, goodwill and intangible assets were reduced, and inventories were halved. This contraction coincides with the emergence of a new line item, "Investment in Baxalta common stock," which appeared in September 2015 at 4.2 billion USD, peaked in December 2015 at 5.1 billion USD, and was largely eliminated by March 2016. This pattern indicates a large-scale divestiture or spin-off of a business segment.
Total Asset Composition: The composition of total assets shifted from a balanced distribution in 2011 to one heavily weighted toward non-current assets by 2014. However, by June 2016, the total asset base was reduced to a level below the 2011 baseline, driven primarily by the reduction in fixed assets and the removal of the Baxalta investment, resulting in a leaner balance sheet with total assets of 16.0 billion USD.

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Baxter International Inc. (NYSE:BAX)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data