Baxter International Inc. (NYSE:BAX) Files An 8-K Results of Operations and Financial Condition
Item2.02 Results of Operations and Financial Condition.
On February1, 2017, Baxter International Inc. (the Company)
issued an earnings press release for the quarterly and annual
periods ended December31, 2016. The press release, including
attachments, is furnished as Exhibit 99.1 to this report.
The press release furnished as Exhibit 99.1 contains financial
measures that are not calculated in accordance with generally
accepted accounting principles (GAAP). The non-GAAP financial
measures include adjusted operating income, adjusted pre-tax
income from continuing operations, adjusted income from
continuing operations and adjusted diluted earnings per share
from continuing operations, each excluding special items, and
constant currency sales and free cash flow. Special items are
excluded because they are highly variable, difficult to predict
or unusual and of a size that may substantially impact the
Companys reported operations for a period. Net sales amounts are
presented on a constant currency basis. This measure provides
information on the change in net sales assuming that foreign
currency exchange rates have not changed between the prior and
current periods. Free cash flow represents operating cash flow
less capital expenditures. This measure provides an indication of
cash flow that may be available to fund investments in future
growth initiatives. Non-GAAP financial measures may provide a
more complete understanding of the Companys operations and can
facilitate a fuller analysis of the Companys results of
operations, particularly in evaluating performance from one
period to another. Additionally, intangible asset amortization is
excluded as a special item to facilitate an evaluation of current
and past operating performance and is similar to how management
internally assesses performance.
Management believes that non-GAAP earnings measures, when used in
conjunction with the results presented in accordance with GAAP
and the reconciliations to corresponding GAAP financial measures,
may enhance an investors overall understanding of the Companys
past financial performance and prospects for the future.
Accordingly, management uses these non-GAAP measures internally
in financial planning, to monitor business unit performance, and
in some cases for purposes of determining incentive compensation.
This information should be considered in addition to, and not as
substitutes for, information prepared in accordance with GAAP.
The Company strongly encourages investors to review its
consolidated financial statements and publicly filed reports in
their entirety and cautions investors that the non-GAAP measures
used by the Company may differ from similar measures used by
other companies, even when similar terms are used to identify
such measures.
Item9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
|
ExhibitNumber |
Description |
|
| 99.1 | Press release dated February1, 2017. |
About Baxter International Inc. (NYSE:BAX)
Baxter International Inc., through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures IV solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, inhalation anesthetics, and biosurgery products. The business also provides products and services related to pharmacy compounding, and drug formulation. The Renal business provides products and services to treat end-stage renal disease, or irreversible kidney failure and acute kidney injuries. Baxter International Inc. (NYSE:BAX) Recent Trading Information
Baxter International Inc. (NYSE:BAX) closed its last trading session up +1.01 at 47.91 with 6,331,700 shares trading hands.