v3.26.1
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The numerator for both basic and diluted earnings per share (EPS) is net income (loss) attributable to Baxter stockholders. The denominator for basic EPS is the weighted-average number of shares outstanding during the period. The dilutive effect of outstanding stock options, restricted stock units (RSUs) and performance share units (PSUs) is reflected in the denominator for diluted EPS using the treasury stock method.
The following table is a reconciliation of income (loss) from continuing operations to net income (loss) attributable to Baxter stockholders.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2026202520262025
Income (loss) from continuing operations$135 $122 $118 $186 
Less: Net income attributable to noncontrolling interests — — — — 
Income (loss) from continuing operations attributable to Baxter stockholders135 122 118 186 
Income (loss) from discontinued operations(9)(31)(7)31 
Net income (loss) attributable to Baxter stockholders$126 $91 $111 $217 

The following table is a reconciliation of basic shares and diluted shares.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2026202520262025
Basic shares517 513 516 512 
Effect of dilutive securities1 1 1 2 
Diluted shares518 514 517 514 
The effect of dilutive securities includes unexercised stock options, unvested RSUs and contingently issuable shares related to granted PSUs. The computation of diluted EPS excludes 19 million shares issuable under equity awards for the three and six months ended June 30, 2026, respectively, and 20 million shares issuable under equity awards for the three and six months ended June 30, 2025, respectively, because their inclusion would have had an anti-dilutive effect on diluted EPS.