Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Short-term debt	1,775)	913)	181)	27)	256)
Current maturities of long-term debt and lease obligations	810)	786)	859)	323)	190)
Accounts payable, principally trade	716)	1,264)	1,103)	766)	795)
Deferred income taxes	—)	9)	760)	878)	738)
Common stock dividends payable	137)	282)	266)	246)	188)
Employee compensation and withholdings	481)	716)	667)	567)	517)
Property, payroll and certain other taxes	166)	261)	237)	152)	150)
Infusion pump reserves	52)	22)	64)	37)	202)
Business optimization reserves	98)	118)	199)	151)	176)
Accrued rebates	192)	374)	346)	291)	267)
Separation-related reserves	190)	—)	—)	—)	—)
Other	634)	961)	922)	870)	1,025)
Accounts payable and accrued liabilities	2,666)	4,007)	4,564)	3,958)	4,058)
Current income taxes payable	453)	336)	302)	451)	353)
Current liabilities held for disposition	46)	—)	—)	—)	—)
Current liabilities	5,750)	6,042)	5,906)	4,759)	4,857)
Long-term debt and lease obligations, excluding current maturities	3,935)	7,606)	8,126)	5,580)	4,749)
Pension and other employee benefits	2,041)	2,748)	2,049)	2,427)	1,920)
Deferred tax liabilities	195)	212)	239)	98)	116)
Litigation reserves	24)	53)	72)	32)	63)
Infusion pump reserves	—)	—)	19)	90)	74)
Business optimization reserves	18)	51)	89)	69)	49)
Contingent payment liabilities	20)	569)	340)	86)	—)
Other	127)	480)	543)	271)	417)
Other long-term liabilities	2,425)	4,113)	3,351)	3,073)	2,639)
Noncurrent liabilities	6,360)	11,719)	11,477)	8,653)	7,388)
Total liabilities	12,110)	17,761)	17,383)	13,412)	12,245)
Common stock, $1 par value	683)	683)	683)	683)	683)
Common stock in treasury, at cost	(7,646)	(7,993)	(7,914)	(7,592)	(6,719)
Additional contributed capital	5,902)	5,853)	5,818)	5,769)	5,783)
Retained earnings	9,683)	13,227)	11,852)	10,888)	9,429)
Accumulated other comprehensive income (loss)	224)	(3,650)	(1,976)	(2,810)	(2,591)
Total Baxter shareholders’ equity	8,846)	8,120)	8,463)	6,938)	6,585)
Noncontrolling interests	19)	36)	23)	40)	243)
Total equity	8,865)	8,156)	8,486)	6,978)	6,828)
Total liabilities and equity	20,975)	25,917)	25,869)	20,390)	19,073)

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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Baxter International Inc. current liabilities increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Baxter International Inc. noncurrent liabilities increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Baxter International Inc. total liabilities increased from 2013 to 2014 but then decreased significantly from 2014 to 2015.
Total Baxter shareholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Baxter International Inc. total Baxter shareholders’ equity decreased from 2013 to 2014 but then increased from 2014 to 2015 exceeding 2013 level.

Baxter International Inc. (NYSE:BAX)

Balance Sheet: Liabilities and Stockholders’ Equity