- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Current Ratio
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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Baxter International Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Income Tax Expense (Benefit)
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).
Item | Description | The company |
---|---|---|
Current income tax expense | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Baxter International Inc. current income tax expense decreased from 2013 to 2014 and from 2014 to 2015. |
Deferred income tax expense (benefit) | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Baxter International Inc. deferred income tax expense (benefit) increased from 2013 to 2014 and from 2014 to 2015. |
Income tax expense | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Baxter International Inc. income tax expense decreased from 2013 to 2014 and from 2014 to 2015. |
Effective Income Tax Rate (EITR)
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
U.S. federal statutory rate | ||||||
Effective income tax rate |
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).
Item | Description | The company |
---|---|---|
Effective income tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Baxter International Inc. effective income tax rate decreased from 2013 to 2014 and from 2014 to 2015. |
Components of Deferred Tax Assets and Liabilities
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).
Item | Description | The company |
---|---|---|
Deferred tax assets, gross | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Baxter International Inc. deferred tax assets, gross increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Baxter International Inc. deferred tax assets increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Net deferred tax asset (liability) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Baxter International Inc. net deferred tax asset (liability) increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Deferred Tax Assets and Liabilities, Classification
Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
---|---|---|---|---|---|---|
Current deferred tax assets | ||||||
Noncurrent deferred tax assets | ||||||
Current deferred tax liabilities | ||||||
Noncurrent deferred tax liabilities |
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).
Item | Description | The company |
---|---|---|
Noncurrent deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Baxter International Inc. noncurrent deferred tax assets decreased from 2013 to 2014 but then slightly increased from 2014 to 2015. |
Noncurrent deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | Baxter International Inc. noncurrent deferred tax liabilities decreased from 2013 to 2014 and from 2014 to 2015. |
Adjustments to Financial Statements: Removal of Deferred Taxes
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).
Baxter International Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
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).
Financial ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Baxter International Inc. adjusted current ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Baxter International Inc. adjusted net profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Baxter International Inc. adjusted total asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Baxter International Inc. adjusted financial leverage ratio increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Baxter International Inc. adjusted ROE improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Baxter International Inc. adjusted ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Baxter International Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Current Ratio
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).
2015 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =
Liquidity ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Baxter International Inc. adjusted current ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Adjusted Net Profit Margin
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).
2015 Calculations
1 Net profit margin = 100 × Net income attributable to Baxter ÷ Net sales
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to Baxter ÷ Net sales
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Baxter International Inc. adjusted net profit margin ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Adjusted Total Asset Turnover
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).
2015 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Baxter International Inc. adjusted total asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Adjusted Financial Leverage
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).
2015 Calculations
1 Financial leverage = Total assets ÷ Total Baxter shareholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Baxter shareholders’ equity
= ÷ =
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Baxter International Inc. adjusted financial leverage ratio increased from 2013 to 2014 but then decreased significantly from 2014 to 2015. |
Adjusted Return on Equity (ROE)
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).
2015 Calculations
1 ROE = 100 × Net income attributable to Baxter ÷ Total Baxter shareholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to Baxter ÷ Adjusted total Baxter shareholders’ equity
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Baxter International Inc. adjusted ROE improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Adjusted Return on Assets (ROA)
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).
2015 Calculations
1 ROA = 100 × Net income attributable to Baxter ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to Baxter ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Baxter International Inc. adjusted ROA improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |