All information in thousands (000's) except shares

Period Ending 2008

1 Total Revenue 12,348,000
Cost of Revenue 6,218,000
2 Gross Profit 6,130,000
Operating Expenses
Research Development 868,000
Selling General and Administrative 2,698,000
Total Operating Expenses 3,566,000
3 Operating Income or Loss 2,564,000

Total Other Income (Expenses) Net 26,000

Earnings Before Interest And Taxes 2,538,000
Interest Expense 76,000
Income Before Tax 2,462,000
Income Tax Expense 437,000
Minority Interest 11,000

Net Income 2,014,000

Shares issued and outstanding 615,992,956

Stock Price at Year End 53.59

Period Ending 2008

Annual Sales Growth
Total Revenue 100.0%
Cost of Revenue 50.4%
Gross Profit 49.6%
Operating Expenses
Research Development 7.0%
Selling General and Administrative 21.8%
Total Operating Expenses 28.9%
 Operating Income or Loss 20.8%

Total Other Income (Expenses) Net

Earnings Before Interest And Taxes 20.6%
Interest Expense 0.6%
Income Before Tax 19.9%
Income Tax Expense 3.5%
Minority Interest 0.1%

Net Income 16.3%

 2009 2010 31-Dec-11 31-Dec-12
12,562,000 12,843,000 13,893,000 14,190,000
6,037,000 6,885,000 6,847,000 6,889,000
6,525,000 5,958,000 7,046,000 7,301,000

917,000 915,000 946,000 1,156,000

2,731,000 2,907,000 3,154,000 3,324,000
3,648,000 3,822,000 4,100,000 4,480,000
2,877,000 2,136,000 2,946,000 2,821,000

45,000 159,000 (83,000) 155,000

2,832,000 1,977,000 2,809,000 2,889,000
98,000 87,000
2,734,000 1,890,000 2,809,000 2,889,000
519,000 463,000 553,000 563,000
10,000 7,000 (32,000)

2,205,000 1,420,000 2,224,000 2,326,000

600,971,701 580,733,356 560,970,456 546,213,545

58.68 50.62 49.48 66.66

2009 2010 31-Dec-11 31-Dec-12

1.73% 2.24% 8.18% 2.14%
100.0% 100.0% 100.0% 100.0%
48.1% 53.6% 49.3% 48.5%
51.9% 46.4% 50.7% 51.5%

7.3% 7.1% 6.8% 8.1%

21.7% 22.6% 22.7% 23.4%
29.0% 29.8% 29.5% 31.6%
22.9% 16.6% 21.2% 19.9%

22.5% 15.4% 20.2% 20.4%

0.8% 0.7% 0.0% 0.0%
21.8% 14.7% 20.2% 20.4%
4.1% 3.6% 4.0% 4.0%
0.1% 0.1% -0.2% 0.0%

17.6% 11.1% 16.0% 16.4%

31-Dec-13 2014 2015 2016
15,259,000 16,830,677 17,099,968 17,441,967
7,664,000 8,499,492 8,720,984 8,982,613
7,595,000 8,331,185 8,378,984 8,459,354

1,246,000
3,681,000
4,927,000
2,668,000 2,861,215 2,821,495 2,790,715

9,000
2,549,000

2,549,000
537,000

2,012,000 2,272,141 2,222,996 2,180,246

543,037,955
69.55

31-Dec-13 2014 2015 2016

7.53% 10.30% 1.60% 2.00%
100.0% 110.3% 112.1% 114.3%
50.2%
49.8% 49.50% 49% 48.5%

8.2%
24.1%
32.3%
17.5% 17.00% 16.50% 16.00%

16.7%
0.0%
16.7%
3.5%
0.0%

13.2% 14% 13% 12.5%

 2017 2018 2019 2020
18,837,325 19,214,071 19,598,352 21,166,221
9,795,409 9,991,317 10,191,143 11,006,435
9,041,916 9,222,754 9,407,209 10,159,786

3,013,972 3,074,251 3,135,736 3,386,595

2,354,666 2,401,759 2,449,794 2,645,778

2017 2018 2019 2020

8.00% 2.00% 2.00% 8.00%
123.5% 125.9% 128.4% 138.7%

48% 48% 48% 48%

16.00% 16.00% 16.00% 16.00%

12.5% 12.5% 12.5% 12.5%

 2021 2022 2023 2024
21,589,545 22,021,336 23,783,043 23,783,043
11,226,563 11,451,095 12,367,182 12,367,182
10,362,982 10,570,241 11,415,861 11,415,861

3,454,327 3,523,414 3,805,287 3,805,287

2,698,693 2,752,667 2,972,880 2,972,880

2021 2022 2023 2024

2.00% 2.00% 8.00%
141.5% 144.3% 155.9%

48% 48% 48% 48%

16.00% 16.00% 16.00% 16%

12.5% 12.5% 12.5% 12.5%

All information in thousands (000's) except shares

Period Ending 2008

Total Revenue 12,348,000
Cost of Revenue 6,218,000
Gross Profit 6,130,000
Operating Expenses
Research Development 868,000
Selling General and Administrative 2,698,000
Total Operating Expenses 3,566,000
Operating Income or Loss 2,564,000

Total Other Income (Expenses) Net 26,000

Earnings Before Interest And Taxes 2,538,000
Interest Expense 76,000
Income Before Tax 2,462,000
Income Tax Expense 437,000
Minority Interest 11,000

Net Income 2,014,000

Shares issued and outstanding 615,992,956

Stock Price at Year End 53.59
 2009 2010 31-Dec-11 31-Dec-12
12,562,000 12,843,000 13,893,000 14,190,000
6,037,000 6,885,000 6,847,000 6,889,000
6,525,000 5,958,000 7,046,000 7,301,000

917,000 915,000 946,000 1,156,000

2,731,000 2,907,000 3,154,000 3,324,000
3,648,000 3,822,000 4,100,000 4,480,000
2,877,000 2,136,000 2,946,000 2,821,000

45,000 159,000 (83,000) 155,000

2,832,000 1,977,000 2,809,000 2,889,000
98,000 87,000
2,734,000 1,890,000 2,809,000 2,889,000
519,000 463,000 553,000 563,000
10,000 7,000 (32,000)

2,205,000 1,420,000 2,224,000 2,326,000

600,971,701 580,733,356 560,970,456 546,213,545

58.68 50.62 49.48 66.66
31-Dec-13
15,259,000
7,664,000
7,595,000

1,246,000
3,681,000
4,927,000
2,668,000

9,000
2,549,000

2,549,000
537,000

2,012,000

543,037,955
69.55
All information in thousands (000's) except shares

Period Ending
Assets
Current Assets
Cash And Cash Equivalents
Net Receivables
Inventory
Other Current Assets
Total Current Assets

Property Plant and Equipment (net)

Goodwill
Intangible Assets
Other Assets
Total Non-Curent Assets

Total Assets

Liabilities
Current Liabilities
Accounts Payable
Short/Current Long Term Debt
Total Current Liabilities
Non-Current Liabilities
Long Term Debt
Other Liabilities
Minority Interest
Total Non-Current Liabilities
Total Liabilities

Stockholders' Equity
Common Stock
 Retained Earnings
Treasury Stock
Capital Surplus
Other Stockholder Equity
Total Stockholder Equity

Total liabilities and equity

Period Ending
Assets
Current Assets
Cash And Cash Equivalents
Net Receivables
Inventory
Other Current Assets
Total Current Assets

Property Plant and Equipment (net)

Goodwill
Intangible Assets
Other Assets
Total Non-Curent Assets

Total Assets

Liabilities
Current Liabilities
Accounts Payable
Short/Current Long Term Debt
Total Current Liabilities
Non-Current Liabilities
Long Term Debt
 Other Liabilities
Minority Interest
Total Non-Current Liabilities
Total Liabilities

Stockholders' Equity
Common Stock
Retained Earnings
Treasury Stock
Capital Surplus
Other Stockholder Equity
Total Stockholder Equity

Total liabilities and equity

Asset Turnover
) except shares

CONSOLIDATED BALANCE SHEETS

2009 2010 31-Dec-11 31-Dec-12

$2,786,000 $2,685,000 2,905,000 3,270,000

$2,302,000 $2,265,000 2,715,000 2,769,000
$2,557,000 $2,371,000 2,628,000 2,803,000
$626,000 $668,000 402,000 418,000
$8,271,000 $7,989,000 8,650,000 9,260,000

$5,159,000 $5,260,000 5,525,000 6,098,000

$1,825,000 $2,015,000 2,317,000 2,502,000
$513,000 $500,000 826,000 814,000
$1,586,000 $1,725,000 1,755,000 1,716,000
9,083,000 9,500,000 10,423,000 11,130,000

$17,354,000 $17,489,000 19,073,000 20,390,000

$3,753,000 $4,017,000 4,411,000 4,409,000

$711,000 $24,000 446,000 350,000
$4,464,000 $4,041,000 4,857,000 4,759,000

$3,440,000 $4,363,000 4,749,000 5,580,000

$2,030,000 $2,289,000 2,639,000 3,073,000
$229,000 $229,000 243,000 40,000
$5,699,000 $6,881,000 $7,631,000 $8,693,000
$10,163,000 $10,922,000 $12,488,000 $13,452,000

$683,000 $683,000 683,000 683,000

 $7,343,000 $7,925,000 9,429,000 10,888,000
($4,741,000) ($5,655,000) (6,719,000) (7,592,000)
$5,683,000 $5,753,000 5,783,000 5,769,000
($1,777,000) ($2,139,000) (2,591,000) (2,810,000)
$7,191,000 $6,567,000 6,585,000 6,938,000

Net Income - Dividends

Check
Change in Retained Earnings
Change in Book-Value-of-Equity

$17,354,000 $17,489,000 19,073,000 20,390,000

2009 2010 31-Dec-11 31-Dec-12

0.0% 0.0% 0.0% 0.0%

16.1% 15.4% 15.2% 16.0%
13.3% 13.0% 14.2% 13.6%
14.7% 13.6% 13.8% 13.7%
3.6% 3.8% 2.1% 2.1%
47.7% 45.7% 45.4% 45.4%

29.7% 30.1% 29.0% 29.9%

10.5% 11.5% 12.1% 12.3%
3.0% 2.9% 4.3% 4.0%
9.1% 9.9% 9.2% 8.4%
52.3% 54.3% 54.6% 54.6%

100.0% 100.0% 100.0% 100.0%

0.74 0.79 0.74
 31-Dec-13 2014 2015 2016

2,733,000
3,304,000
3,499,000 3,541,455 3,354,224 3,208,076
468,000
10,004,000 10,660,000 11,266,000 11,880,000

7,832,000
4,205,000
2,294,000
1,534,000
15,865,000 15,340,000.00 14,934,000.00 14,520,000.00

25,869,000 26,000,000 26,200,000 26,400,000

4,866,000
1,040,000
5,906,000 5,610,526 5,929,474 6,252,632

8,126,000
3,351,000
23,000
$11,500,000 10,718,252 9,482,786 8,330,118
$17,406,000 16,328,779 15,412,260 14,582,750

683,000
 11,852,000 13,060,221 14,176,740 15,206,250
(7,914,000)
5,818,000
(1,976,000)
8,463,000 9,671,221 10,787,740 11,817,250

1,208,221 1,116,519 1,029,510

nings 1,208,221 1,116,519 1,029,510
f-Equity 1,208,221 1,116,519 1,029,510

25,869,000 26,000,000 26,200,000 26,400,000

31-Dec-13 2014 2015 2016

0.0%
10.6%
12.8%
13.5%
1.8%
38.7% 41% 43% 45%

30.3%
16.3%
8.9%
5.9%
61.3% 59.00% 57.00% 55.00%

100.0% 100.0% 100.0% 100.0%

0.75 0.75 0.75 0.75
 2017 2018 2019 2020

3,498,360 3,568,327 3,639,694 3,930,870

11,970,000 12,105,000 12,699,732.40 12,953,727.05

14,630,000.00 14,795,000.00 15,521,895.16 15,832,333.06

26,600,000 26,900,000 28,221,628 28,786,060

6,300,000 6,371,053 6,684,070 6,817,751

7,324,849 6,396,674 5,084,911 4,216,083

13,624,849 12,767,726 11,768,981 11,033,834
16,364,151 17,521,274 19,841,647 21,141,226

12,975,151 14,132,274 16,452,647 17,752,226

1,157,900 1,157,123 2,320,373 1,299,580

1,157,900 1,157,123 2,320,373 1,299,580
1,157,900 1,157,123 2,320,373 1,299,580

26,600,000 26,900,000 28,221,628 28,786,060

2017 2018 2019 2020

45% 45% 45% 45%

55.00% 55.00% 55.00% 55.00%

100.0% 100.0% 100.0% 100.0%

0.75 0.75 0.75 0.75
 2021 2022 2023 2024

4,009,487 4,089,677 4,416,851

13,212,801.59 14,269,825.72 14,269,825.72

16,148,979.73 17,440,898.10 17,440,898.10

29,361,781 31,710,724 31,710,724

6,954,106 7,510,435 7,510,435

3,356,802 3,852,797 -29,316,517

10,310,908 11,363,231 -21,806,083
22,439,873 23,736,492 25,195,083

19,050,873 20,347,492 21,806,083

1,298,647 1,296,619 1,458,590

1,298,647 1,296,619 1,458,590
1,298,647 1,296,619 1,458,590

29,361,781 31,710,724 -

2021 2022 2023 2024

45% 45% 45%

55.00% 55.00% 55.00%

100.0% 100.0% 100.0%

0.75 0.75 0.75
Count CFFO Sales Operating Income
1 2,515,000 12,348,000 2,564,000
2 2,909,000 12,562,000 2,877,000
3 3,003,000 12,843,000 2,136,000
4 2,817,000 13,893,000 2,946,000
5 3,106,000 14,190,000 2,821,000
6 3,198,000 15,259,000 2,668,000

Sales Regression
Regression Statistics
Multiple R 73.1058%
R Square 53.4445%
Adjusted R Square 41.8056%
Standard Error 184790.8994
Observations 6

ANOVA
df SS MS F
Regression 1 1.56803E+11 1.56803E+11 4.59189741
Residual 4 1.36591E+11 34147676507
Total 5 2.93393E+11

Coefficients Standard Error t Stat P-value

Fixed Sales 802,731.4364 993,099.4569 0.8083 0.4642
Variable Sales 0.1570 0.0733 2.1429 0.0988

Operating Income Regression

Regression Statistics
Multiple R 1.26%
R Square 0.02%
Adjusted R Square -24.98%
Standard Error 270,807.3630
Observations 6

ANOVA
df SS MS F
Regression 1 46821883.76 46821883.76 0.000638452
Residual 4 2.93347E+11 73336627862
Total 5 2.93393E+11

Coefficients Standard Error t Stat P-value

Fixed Operating Income 2,952,251.9195 1,097,307.9903 2.6904 0.0546
Variable Operating Income (0.0103) 0.4091 (0.0253) 0.9811

Net Income Regression

Regression Statistics
Multiple R 4.0895%
R Square 0.1672%
Adjusted R Square -24.7910%
Standard Error 270,602.4167
Observations 6

ANOVA
df SS MS F
Regression 1 490661693.3 490661693.3 0.006700679
Residual 4 2.92903E+11 73225667910
Total 5 2.93393E+11

Coefficients Standard Error t Stat P-value

Fixed Net Income 2,986,627.8263 764,956.8267 3.9043 0.0175
Variable Net Income (0.0305) 0.3722 (0.0819) 0.9387

Multi-Regression
Regression Statistics
Multiple R 77.32%
R Square 59.78%
Adjusted R Square -0.56%
Standard Error 242,910.1261
Observations 6

ANOVA
df SS MS F
Regression 3 1.75383E+11 58460891534 0.990773074
Residual 2 1.18011E+11 59005329366
Total 5 2.93393E+11

Coefficients Standard Error t Stat P-value

Intercept 960,180.2834 1,708,274.9957 0.5621 0.6307
Variable Sales 0.1721 0.1007 1.7085 0.2297
Variable Operating Income 0.0379 1.3173 0.0288 0.9796
Variable Net Income (0.2276) 1.1930 (0.1908) 0.8663
 Net Income Correlation
2,014,000 Sales Operating Income Net Income
2,205,000 Sales 1.0000
1,420,000 Operating Income 0.2923 1.0000
2,224,000 Net Income 0.2746 0.9600 1.0000
2,326,000
2,012,000

ression

Significance F
0.098768776

Lower 95% Upper 95% Lower 95.0% Upper 95.0%

(1,954,554.6899) 3,560,017.5626 (1,954,554.6899) 3,560,017.5626
(0.0464) 0.3604 (0.0464) 0.3604

me Regression

Significance F
0.981051821

Lower 95% Upper 95% Lower 95.0% Upper 95.0%

(94,363.4790) 5,998,867.3181 (94,363.4790) 5,998,867.3181
(1.1462) 1.1255 (1.1462) 1.1255

Regression
 Significance F
0.938692297

Lower 95% Upper 95% Lower 95.0% Upper 95.0%

862,767.1892 5,110,488.4634 862,767.1892 5,110,488.4634
(1.0640) 1.0030 (1.0640) 1.0030

ression

Significance F
0.537826893

Lower 95% Upper 95% Lower 95.0% Upper 95.0%

(6,389,933.7900) 8,310,294.3567 (6,389,933.7900) 8,310,294.3567
(0.2613) 0.6055 (0.2613) 0.6055
(5.6300) 5.7059 (5.6300) 5.7059
(5.3608) 4.9056 (5.3608) 4.9056
Aggressive Accounting < 1 | Conservative Accounting > 1
All information in thousands (000's) except shares

Period Ending
Operating Activities, Cash Flows Provided By or Used In
Net Income
Depreciation
Adjustments To Net Income
Changes In Accounts Receivables
Changes In Liabilities
Changes In Inventories
Changes In Other Operating Activities
Total Cash Flow From Operating Activities

CFFO/Sales
CFFO/Operating Income
CFFO/Net Income

Investing Activities, Cash Flows Provided By or Used In

Capital Expenditures
Investments
Other Cash flows from Investing Activities
Total Cash Flows From Investing Activities

Financing Activities, Cash Flows Provided By or Used In

Dividends Paid
Sale Purchase of Stock
Net Borrowings
Other Cash Flows from Financing Activities
Total Cash Flows From Financing Activities
 2008 2009 2010 31-Dec-11

2,224,000
670,000
931,000
(229,000)
98,000
(315,000)
(594,000)
$2,515,000 $2,909,000 $3,003,000 2,817,000

0.204 0.232 0.234 0.203

0.981 1.011 1.406 0.956
1.249 1.319 2.115 1.267

(960,000)
-
(467,000)
($993,000) ($1,146,000) ($1,264,000) (1,427,000)

($546,000) ($632,000) ($688,000) (709,000)

(1,135,000)
733,000
(26,000)
(1,137,000)
 31-Dec-12 31-Dec-13 2014 2015

2,326,000 2,012,000
712,000 823,000
674,000 609,000
(41,000) (36,000)
18,000 329,000
(129,000) (311,000)
(454,000) (228,000)
3,106,000 3,198,000

0.219 0.210
1.101 1.199
1.335 1.589

(1,161,000) (1,525,000)
- -
(408,000) (3,837,000)
(1,569,000) (5,362,000)

(804,000) (1,023,000) (1,063,920) (1,106,477)

(968,000) (405,000)
765,000 3,096,000
(108,000) (23,000)
(1,115,000) 1,645,000
 2016 2017 2018 2019 2020

(1,150,736) (1,196,765) (1,244,636) (129,421) (1,346,198)

 2021 2022 2023 2024

(1,400,046) (1,456,048) (1,514,290) (1,574,861)

Period Ending 2009
Liquidity
Current Ratio 1.85
Quick Asset Ratio 1.14

Operating Efficiency (365 day year)

Inventory Turnover 2.36
Accounts Receivable Turnover 5.46
Working Capital Turnover 3.30

Days Supply Inventory 154.6

Days Sales Outstanding (avg collection time) 66.9
Cash to Cash Cycle 221.5

Profitability Ratios
Annual Sales Growth 1.73%
Gross Profit Margin 51.9%
Operating Profit Margin 22.9%
Net Profit Margin 17.6%

Asset Turnover
Return on Assets
Return on Equity

Capital Structure and Leverage Risk

Debt to Equity Ratio (total liabilities) (end of year) 1.41
Times Interest Earned 28.90
Debt Service Margin
Altman's Z-Score

Internal Growth Rate (IGR)

Sustainable Growth Rate (SGR)

Dividend Payout ratio 28.7%

lagged debt to equity
2010 31-Dec-11 31-Dec-12 31-Dec-13 2014 2015 2016

1.98 1.78 1.95 1.69 1.9 1.9 1.9

1.22 1.16 1.27 1.02

2.90 2.61 2.46 2.19 2.4 2.6 2.8

5.67 5.12 5.12 4.62 4.9 5.2 5.5
3.25 3.66 3.15 3.72

125.7 140.1 148.5 166.6

64.4 71.3 71.2 79.0
190.1 211.4 219.7 245.7

2.24% 8.18% 2.14% 7.53%

46.4% 50.7% 51.5% 49.8%
16.6% 21.2% 19.9% 17.5%
11.1% 16.0% 16.4% 13.2%

0.74 0.79 0.74 0.75 0.75 0.75 0.75

8.2% 12.7% 12.2% 9.9%
19.7% 33.9% 35.3% 29.0%

1.66 1.90 1.94 2.06

22.72
4.22 117.38 6.96 9.14

4.2% 8.7% 8.0% 4.9%

10.2% 23.1% 23.1% 14.3%

48.5% 31.9% 34.6% 50.8%

1.41 1.66 1.90 1.94
2017 2018 2019 2020 2021 2022 2023 2024

1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.9

2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8

5.8 6.1 6.1 6.1 6.1 6.1 6.1 6.1

0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75

Do NOT adjust, ATO is generally stable over time
BAXTER INTERNATIONAL INC
10-K
As of December 31, 2009

Future Minimum Lease Payments and Debt Maturities

as of and for the years ended December 31 (in millions) Operating Debt maturities
leases and capital
leases
2010 $163 $682
2011 138 7
2012 115 161
2013 100 4
2014 92 358
Thereafter 194 2,867

Total obligations and commitments 802 4,079

Interest on capital leases, discounts and premiums, and
adjustments relating to hedging instruments n/a 43

Long-term debt and lease obligations $802 $4,122

BAXTER INTERNATIONAL INC

10-K
As of December 31, 2010

Future Minimum Lease Payments and Debt Maturities

as of and for the years ended December 31 (in millions) Operating Debt maturities
leases and capital
leases
2011 $162 $9
2012 133 175
2013 106 304
2014 93 358
2015 82 843
Thereafter 172 2,563

Total obligations and commitments 748 4,252

Interest on capital leases, discounts and premiums, and
adjustments relating to hedging instruments n/a 120

Long-term debt and lease obligations $748 $4,372

BAXTER INTERNATIONAL INC

10-K
As of December 31, 2011
Future Minimum Lease Payments and Debt Maturities

as of and for the years ended December 31 (in millions) Operating Debt maturities
leases and capital
leases
2012 $178 190
2013 149 304
2014 121 357
2015 104 859
2016 92 602
Thereafter 145 2,440
Total obligations and commitments 789 4,752
Interest on capital leases, discounts and premiums, and
adjustments relating to hedging instruments n/a 187

Long-term debt and lease obligations $789 4,939

BAXTER INTERNATIONAL INC

10-K
As of December 31, 2012

Contractual Obligations

(in millions) Total Less than One to

one year three years

Short-term debt $27 $27 $0

Long-term debt and capital lease obligations, including
current maturities 5,757 323 1,205

Interest on short- and long-term debt and capital lease

obligations 1 1,984 210 372

Operating leases 816 181 274

Other long-term liabilities 2 1,114 313
Purchase obligations 3 1,455 744 542
Unrecognized tax benefits 4 299 299

Contractual obligations 5 $11,452 $1,784 $2,706

BAXTER INTERNATIONAL INC

10-K
As of December 31, 2013

Contractual Obligations
(in millions) Total Less than One to
one year three years

Short-term debt $181 $181 $0

Long-term debt and capital lease obligations, including current
9,020
maturities 859 1,924

Interest on short- and long-term debt and capital lease obligations

2,843 1 271 470

Operating leases 1,085 216 338

Other long-term liabilities 2 1,630 331
Purchase obligations 3 1,686 914 617
Unrecognized tax benefits 4 118 118

Contractual obligations 5 $16,563 $2,559 $3,680

Three to More than
five years five years

$0 $0
1,276 2,953

274 1,128

210 151
112 689
150 19

$2,022 $4,940
 Three to More than
five years five years

$0 $0
1,909 4,328

336 1,766

260 271
139 1,160
145 10

$2,789 $7,535
BAXTER INTERNATIONAL INC
10-K
For Year Ending December 31, 2013

Fair value of consideration transferred and net assets acquired

On September 6, 2013, Baxter acquired 100 percent of the voting equity interests in Indap Holding AB, th
dialysis product company based in Lund, Sweden.

(in millions)
Consideration transferred
Cash $3,704

Fair value of consideration transferred $3,704

Fair Value of Assets acquired and liabilities assumed

Cash $88
Accounts receivable 490
Inventories 368
Prepaid expenses and other 54
Property, plant, and equipment 726
Other intangible assets 1,290
Other assets 11

Current-maturities of long-term debt and lease obligations (2)

Accounts payable and accrued liabilities (340)

Long-term debt and lease obligations (261)
Other long-term liabilities (including pension obligations of $209) (340)
Indap Holding AB, the holding company for Gambro, a privately held