Baxter International Inc. reported a corporate reporting change on July 14, 2026, furnishing an 8-K under Item 7.01, Regulation FD Disclosure, to explain how it will present its business segments beginning with the quarterly period ended June 30, 2026. The action is not an acquisition, financing, insider transaction, or restatement; it is a recasting of historical segment and product-category financial information to match Baxter’s new operating model. Under the revised structure, Baxter will report two segments instead of three. The company’s prior segments were Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. Starting in the second quarter of 2026, Baxter’s reportable segments are Medical Products & Therapies, or MPT, and Healthcare Systems & Technologies, or HST. The former Pharmaceuticals segment is now included within the Infusion Therapies & Platforms division of the MPT segment. Baxter said the new segment presentation reflects how its chief operating decision maker—identified as its president and chief executive officer—allocates resources and evaluates performance. The MPT segment will now include the Infusion Therapies & Platforms and Advanced Surgery divisions, covering products such as sterile IV solutions, infusion systems, administration sets, parenteral nutrition therapies, surgical hemostat, sealant and adhesion prevention products, specialty injectable pharmaceuticals, inhaled anesthesia, drug compounding, and certain products and services sold directly through Baxter manufacturing facilities. Those manufacturing-facility-related sales tied to Infusion Therapies & Platforms had previously been reported in “Other” and are now included in MPT. The Healthcare Systems & Technologies segment remains unchanged. It includes the Front Line Care and Care & Connectivity Solutions divisions, covering connected care products and collaboration tools such as smart beds, patient monitoring systems, diagnostic technologies, respiratory health devices, operating room integration technologies, precision positioning devices, and related surgical-space equipment and accessories. Baxter also changed how it treats certain corporate expenses. Some shared corporate costs will now remain unallocated rather than being fully allocated to the segments, as they had been previously. The remaining “Other” sales not allocated to a segment consist of sales to Vantive Health LLC under the related Manufacturing and Supply Agreement for kidney care products, referred to as the Kidney Care MSA. The company emphasized that the recast presentation does not restate its previously issued consolidated financial statements and does not change previously reported net income, earnings per share, total assets, or stockholders’ equity. Instead, the revised information is intended to help investors compare historical results with Baxter’s new reporting structure. As part of Item 9.01, Baxter furnished Exhibit 99.1, titled “Recast Historical Segment Financial Information (unaudited).” The exhibit provides unaudited recast segment and product-category financial information for the quarter ended March 31, 2026, the full years ended December 31, 2025 and December 31, 2024, and each quarterly period within those years. The company also described related non-GAAP sales growth measures included in the exhibit. Operational sales growth for 2025 periods excludes the impact of the Kidney Care MSA not reflected in reportable segments, reflects Baxter’s previously announced exit from IV solutions in China within MPT, and is calculated at constant currency rates. Organic sales growth for the quarter ended March 31, 2026 excludes the Kidney Care MSA impact not reflected in reportable segments, acquisition and divestiture impacts, and foreign-exchange effects. Baxter said these measures are intended to help investors evaluate sales trends excluding currency movements and certain business-structure effects. The filing was signed on July 14, 2026, by Anita A. Zielinski, Baxter’s interim chief financial officer and senior vice president, chief accounting officer and controller.