10-K/A 1 d10ka.htm FORM 10-K/A YEAR ENDED 12/31/03 Form 10-K/A Year ended 12/31/03

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 10-K/A

(Amendment No. 1)

 

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2003

 

OR

 

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from             to             

 

Commission file number 1-4448

 


 

Baxter International Inc.

(Exact Name of Registrant as Specified in its Charter)

 


 

Delaware   36-0781620

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

One Baxter Parkway, Deerfield, Illinois   60015
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code 847.948.2000

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class


 

Name of each exchange

on which registered


Common stock, $1 par value   New York Stock Exchange, Inc.
    Chicago Stock Exchange, Inc.
    Pacific Exchange, Inc.

Preferred Stock Purchase Rights

(currently traded with common stock)

 

New York Stock Exchange, Inc.

Chicago Stock Exchange, Inc.

Pacific Exchange, Inc.

Corporate Units   New York Stock Exchange, Inc.

 

Securities registered pursuant to Section 12(g) of the Act: None

 


 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes þ  No ¨

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    ¨

 

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Act).     Yes þ  No ¨

 

The aggregate market value of the voting common equity held by non-affiliates of the registrant as of June 30, 2003 (the last business day of the registrant’s most recently completed second fiscal quarter), based on the per share closing sale price of $26.00 on that date and the assumption for the purpose of this computation only that all of the registrant’s directors and executive officers are affiliates, was approximately $15.5 billion. There is no non-voting common equity held by non-affiliates of the registrant.

 

The number of shares of the registrant’s common stock, $1 par value, outstanding as of July 31, 2004 was 614,790,270.

 



Documents Incorporated By Reference

 

Portions of the registrant’s annual report to stockholders for fiscal year ended December 31, 2003 are incorporated by reference into Parts I, II and IV of this report. Portions of the registrant’s proxy statement for use in connection with its annual meeting of stockholders to be held on May 4, 2004 are incorporated by reference into Part III of this report.


EXPLANATORY NOTE

 

Baxter International Inc. is filing this Form 10-K/A for the year ended December 31, 2003 to reflect the restatement of its consolidated financial statements for the years ended December 31, 2001 through 2003. The restatement principally pertains to the inappropriate application of accounting principles for revenue recognition and inadequate provisions for bad debts in Brazil during the period. Refer to Note 1A to the consolidated financial statements for a complete description and quantification of the restatement.

 

This Form 10-K/A has not been updated except as required to reflect the effects of the restatement. This restatement includes changes to Items 6, 7, 8, 9A and 15. Items included in the original Form 10-K that are not included herein are not amended and remain in effect as of the date of the original filing. Additionally, this Form 10-K/A does not purport to provide an update or a discussion of any other developments at the company subsequent to the original filing.

 

ADVATE, ALYX, ARALAST, Baxter and PROMAXX are trademarks of Baxter International Inc. and its affiliates.

 

Item 6. Selected Financial Data.

 

Incorporated by reference from the Annual Report, section entitled “Five-Year Summary of Selected Financial Data” (as restated and included in Exhibit 13 to this Form 10-K/A).

 

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

Incorporated by reference from the Annual Report, section entitled “Management’s Discussion and Analysis” (as restated and included in Exhibit 13 to this Form 10-K/A).

 

Item 8. Financial Statements and Supplementary Data.

 

Incorporated by reference from the Annual Report, sections included in Exhibit 13 to this Form 10-K/A and entitled “Report of Independent Registered Public Accounting Firm,” “Consolidated Balance Sheets” (as restated), “Consolidated Statements of Income” (as restated), “Consolidated Statements of Cash Flows” (as restated), “Consolidated Statements of Stockholders’ Equity and Comprehensive Income” (as restated) and “Notes to Consolidated Financial Statements” (as restated).


Item 9A. Controls and Procedures

 

The company carried out an evaluation, under the supervision and with the participation of the company’s Disclosure Committee and the company’s management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of the end of the period covered by this report. The company’s disclosure controls and procedures are designed to ensure that information required to be disclosed by the company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported on a timely basis. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, except as noted below, the company’s disclosure controls and procedures are effective in alerting them in a timely fashion to material information relating to Baxter required to be included in the reports that the company files under the Exchange Act.

 

The company has restated its previously issued financial results for the years 2001 through 2003, and for the first quarter of 2004. This restatement was primarily the result of the inappropriate application of accounting principles for revenue recognition and inadequate provisions for bad debts in Brazil during this period. Senior management became aware of these issues in 2004 through the reporting procedures established under Baxter’s Global Business Practice Standards. Upon becoming aware of the issues in Brazil, senior management, with the assistance of the company’s internal audit team, conducted a preliminary investigation. This preliminary investigation was followed by a more comprehensive investigation by the Audit Committee of Baxter’s Board of Directors, with the assistance of independent legal counsel and forensic and other accountants. Refer to Note 1A to the consolidated financial statements for further information regarding this restatement.

 

The investigations described above identified the following, which collectively constitute a material weakness in the company’s internal control over financial reporting:

 

  an ineffective control environment maintained by senior management in Brazil, including intentional overrides by senior management in Brazil of internal controls;

 

  inadequate revenue recognition controls in Brazil;

 

  inadequate controls in Brazil to ensure adherence to generally accepted accounting principles for loss contingencies, including bad debts; and

 

  ineffective financial review by management responsible for the Intercontinental region, which includes Latin America.

 

As a result, two members of senior management in the company’s Brazilian operations have been terminated. In addition, the Vice President, Finance responsible for the Intercontinental region has been replaced. In July 2004, the company began monthly detailed internal audits of the company’s Brazilian operations, including on-site reviews of accounting policies and practices with accounting personnel and management in Brazil. In addition, the company is in the process of implementing the following actions to improve its internal control over financial reporting:

 

  a comprehensive review of internal control over financial reporting in Brazil, including additional remediation as necessary;

 

  implementation of new controls in Brazil relating to the recording of revenues and loss contingencies, including improved documentation requirements;

 

  additional training for finance, accounting and sales personnel in Brazil on appropriate accounting for revenue recognition;

 

  additional training for finance and accounting personnel in Brazil on accounting and reporting policies, including those relating to accounting in accordance with Statement of Financial Accounting Standards No. 5 “Accounting for Contingencies” and SEC Staff Accounting Bulletin No. 99 “Materiality;”

 

  enhanced training for employees in Brazil regarding Baxter’s Global Business Practice Standards, including obligations to maintain accurate books and records and to report wrongdoing promptly;

 

  enhanced financial review procedures at the Intercontinental region level; and

 

  improved procedures and additional training for reporting legal contingencies and establishing appropriate legal reserves.

 

The changes to internal control over financial reporting described above were implemented in the third quarter of 2004 or are in the process of being implemented. There has been no change in Baxter’s internal control over financial reporting that occurred during the fiscal quarter ended December 31, 2003 that has materially affected, or is reasonably likely to materially affect, Baxter’s internal control over financial reporting.

 

Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

 

The following documents are filed as a part of this report:

(a)

  

Financial Statements

 

Financial Statements Required By Item 8 of This Form

        Consolidated Balance Sheets – Restated

        Consolidated Statements of Income – Restated

        Consolidated Statements of Cash Flows – Restated

        Consolidated Statements of Stockholders’ Equity and Comprehensive Income – Restated

        Notes to Consolidated Financial Statements – Restated

        Report of Independent Registered Public Accounting Firm

 

        Schedules Required By Article 12 of Regulation S-X

 

        Report of Independent Registered Public Accounting Firm on Financial Statement Schedule

 

        Schedule II—Valuation and Qualifying Accounts – Restated

 

All other schedules have been omitted because they are not applicable or not required.

(b)

   Reports on Form 8-K

 


   On December 23, 2003, Baxter International furnished a current report on Form 8-K under Item 9, “Regulation FD Disclosure,” attaching a press release announcing revised earnings per diluted share expectations for the fourth quarter and full year 2003.

 

   On October 16, 2003, Baxter International furnished a current report on Form 8-K under Item 12, “Results of Operations and Financial Condition,” attaching a press release reporting its financial results for the third quarter of 2003.

 

(c) Exhibits required by Item 601 of Regulation S-K are listed in the Exhibit Index, which is incorporated herein by reference. Exhibits in the Exhibit Index marked with a “C” in the left margin constitute management contracts or compensatory plans or arrangements contemplated by Item 15(a) of Form 10-K/A. The list of exhibits so designated is incorporated by reference in this Part IV, Item 15.

 

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

ON FINANCIAL STATEMENT SCHEDULE

 

To the Board of Directors of

Baxter International Inc.

 

Our audits of the consolidated financial statements referred to in our report dated February 20, 2004, except for Note 1A which is as of August 9, 2004, appearing in Exhibit 13 of this Form 10-K/A (which report and consolidated financial statements are incorporated by reference in this Annual Report on Form 10-K/A) also included an audit of the financial statement schedule listed in Item 15(a) of this Form 10-K/A. In our opinion, this financial statement schedule (as restated) presents fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements.

 

/s/ PRICEWATERHOUSECOOPERS LLP

 

PricewaterhouseCoopers LLP

 

Chicago, Illinois

February 20, 2004, except for Note 1A, which is as of August 9, 2004

 

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SCHEDULE II

 

Valuation and Qualifying Accounts

 

(in millions of dollars)

 

     Restated(b)

          Additions

                
    

Balance at

beginning of

period


  

Charged to

costs and

expenses


  

Charged/

(credited) to

other accounts(a)


   

Deductions

from reserves


   

Balance

at end of

period


Year ended December 31, 2003:

                          

Allowance for doubtful accounts

   70    23    3     (12 )   84

Inventory reserves

   118    161    9     (164 )   124

Litigation reserves

   235    7    9     (36 )   215

Deferred tax asset valuation allowance

   67    96        (12 )   151

Year ended December 31, 2002:

                          

Allowance for doubtful accounts

   62    17    (2 )   (7 )   70

Inventory reserves

   125    177    7     (191 )   118

Litigation reserves

   290    58    8     (121 )   235

Deferred tax asset valuation allowance

   58    9            67

Year ended December 31, 2001:

                          

Allowance for doubtful accounts

   43    22        (3 )   62

Inventory reserves

   110    116    (7 )   (94 )   125

Litigation reserves

   361    52    3     (126 )   290

Deferred tax asset valuation allowance

   50    17        (9 )   58

 

(a) Valuation accounts of acquired or divested companies and foreign currency translation adjustments. Reserves are deducted from assets to which they apply.
(b) Refer to Note 1A for information regarding the company’s restatement of its previously issued financial statements.

 

 

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SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BAXTER INTERNATIONAL INC.
By:   /s/    Robert L. Parkinson, Jr.        
   

Robert L. Parkinson, Jr.

Chairman and Chief Executive Officer

 

DATE: August 6, 2004

 

KNOW ALL BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Robert L. Parkinson, Jr., Jan Stern Reed and Marla S. Persky, each of them, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, in any and all capacities, to sign any or all amendments to this report, and to file the same with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on August 6, 2004.

 

Signature


     

Title


/s/    ROBERT L. PARKINSON, JR.               

Chairman of the Board of Directors and Chief

Robert L. Parkinson, Jr.      

Executive Officer (principal executive officer)

/s/    JOHN J. GREISCH               

Senior Vice President and Chief Financial Officer

(principal financial officer and principal accounting officer)

John J. Greisch        
/s/    WALTER E. BOOMER              

Director

Walter E. Boomer        
/s/    JOHN D. FORSYTH              

Director

John D. Forsyth        
/s/    GAIL D. FOSLER               

Director

Gail D. Fosler        

 

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Signature


     

Title


/s/    JAMES R. GAVIN III, M.D., PH.D.               

Director

James R. Gavin III, M.D., Ph.D.        
/s/    JOSEPH B. MARTIN, M.D., PH.D.               

Director

Joseph B. Martin, M.D., Ph.D.        
/s/    THOMAS T. STALLKAMP              

Director

Thomas T. Stallkamp        
/s/    K. J. STORM               

Director

K. J. Storm        
/s/    FRED L. TURNER              

Director

Fred L. Turner        
/s/    CAROLE UHRICH SHAPAZIAN              

Director

Carole Uhrich Shapazian        

 

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EXHIBITS FILED WITH SECURITIES AND EXCHANGE COMMISSION

 

     Number and Description of Exhibit

3.    Certificate of Incorporation and Bylaws
     3.1*   Restated Certificate of Incorporation, as amended, including Certificate of Designation of Series B Junior Participating Preferred Stock and Certificate of Elimination of Series A Junior Participating Preferred Stock, filed as exhibit 3.1 to the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2002.
     3.2*   Certificate of Designation of Series A Junior Participating Preferred Stock, filed under the Securities Act of 1933 as Exhibit 4.3 to the company’s registration statement on Form S-8 (No. 33-28428).
     3.3*   Amended and Restated Bylaws dated February 25, 2003, filed as exhibit 3.3 to the company’s annual report on Form 10-K for the year ended December 31, 2002 (the “2002 Form 10-K”).
4.    Instruments defining the rights of security holders, including indentures
     4.1*   Amended and Restated Indenture dated November 15, 1985 (the “Indenture”), between the company and First Trust N.A. (“First Trust”) as successor in interest to Continental Illinois National Bank and Trust Company of Chicago (“Continental”), filed under the Securities Act of 1933 as exhibit 4.1 to the company’s registration statement on Form S-3 (No. 33-1665).
     4.2*   First Supplemental Indenture to the Indenture between the company and First Trust (as successor in interest to Continental), filed under the Securities Act of 1933 as exhibit 4.1(A) to the company’s registration statement on Form S-3 (No. 33-6746).
     4.3*   Supplemental Indenture dated as of January 29, 1997, between the company and First Trust (as successor to Continental), filed under the Securities Act of 1933 as exhibit 4.1B to the company’s debt securities shelf registration statement on Form S-3 (No. 333-19025) (the “1997 Shelf”).
     4.4*   Fiscal and Paying Agency Agreement dated as of November 15, 1984, between the company and Citibank, N.A., as amended, filed as exhibit 4.16 to the company’s annual report on Form 10-K for the year ended December 31, 1987 (the “1987 Form 10-K”).
     4.5*   Specimen 9½% Note, filed as exhibit 4.3(a) to the company’s current report on Form 8-K dated June 23, 1988.
     4.6   Intentionally omitted.
     4.7   Intentionally omitted.
     4.8*   Specimen 7.125% Note, filed as exhibit 4.10 to the company’s annual report on Form 10-K for the year ended December 31, 1996 (the “1996 Form 10-K”).
     4.9*   Specimen 7.65% Debenture, filed as exhibit 4.11 to the 1996 Form 10-K.
     4.10*   Contingent Payment Rights Agreement, filed under the Securities Act of 1933 as exhibit 2 to the Company’s registration statement on Form S-4 (No. 333-47927).
     4.11*   Rights Agreement dated as of December 9, 1998, between the company and First Chicago Trust Company of New York, filed as Exhibit 1 to a registration statement on Form 8-A dated February 23, 1999.
     4.12*   Indenture dated as of May 21, 2001 by and among the company and Bank One Trust Company, N.A. as trustee, filed as exhibit 4.6 to the company’s registration statement on Form S-3 (No. 333-67772).

 

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Number and Description of Exhibit

     4.13*    Form of Debenture, filed as exhibit 4.7 to the company’s registration statement on Form S-3 (No. 333-67772).
     4.14*    Registration Rights Agreement dated May 16, 2001 by and among the company and the initial purchasers of the Debentures, filed as exhibit 4.8 to the company’s registration statement on Form S-3 (No. 333-67772).
     4.15*    Purchase Contract Agreement, dated as of December 17, 2002, between the company and Bank One Trust Company, N.A., as Purchase Contract Agent, filed as exhibit 4.2 to Amendment No. 1 to the Form 8-A dated December 23, 2002 (“December 2002 Form 8-A”).
     4.16*    Pledge Agreement, dated as of December 17, 2002, among the company, Bank One Trust Company, N.A., as Collateral Agent, Custodial Agent and Securities Intermediary and Bank One Trust Company, N.A., as Purchase Contract Agent, filed as exhibit 4.3 to December 2002 Form 8-A.
     4.17*    Remarketing Agreement, dated as of December 17, 2002, among the company, Bank One Trust Company, N.A., as Purchase Contract Agent, and the Remarketing Agent named therein, filed as exhibit 4.4 to December 2002 Form 8-A.
     4.18*    Indenture, dated as of April 26, 2002 between the company and Bank One Trust Company, N.A., as Trustee, filed as exhibit 4.5 to December 2002 Form 8-A.
     4.19*    Supplemental Indenture No. 1, dated as of December 17, 2002, between the company and Bank One Trust Company, N.A., as Trustee, filed as exhibit 4.6 to December 2002 Form 8-A.
     4.20*    Form of Corporate Unit (included in exhibit 4.15).
     4.21*    Form of Senior Note due 2008 (included in exhibit 4.19).
     4.22*    Second Supplemental Indenture, dated as of March 10, 2003 between the company and Bank One Trust Company, N.A., as Trustee, filed as exhibit 4.2 to the company’s registration statement on Form S-4 (No. 333-109329).
10.    Material Contracts
C    10.1*    Form of Indemnification Agreement entered into with directors and officers, filed as exhibit 19.4 to the company’s quarterly report on Form 10-Q for the quarter ended September 30, 1986.
C    10.2*    Baxter International Inc. International Retirement Plan, filed as exhibit 10.2 to the company’s annual report on Form 10-K for the year ended December 31, 2001 (the “2001 Form 10-K”).
C    10.3*    Baxter International Inc. and Subsidiaries Supplemental Pension Plan, as amended and restated effective January 1, 2002, filed as exhibit 10.3 to the company’s quarterly report on Form 10-Q for the quarter ended March 31, 2002 (the “March 2002 Form 10-Q”).
C    10.4*    2001 Global Stock Option Plan, filed as exhibit 10.4 to the 2002 Form 10-K.
C    10.5*    Baxter International Inc. Stock Option Plan adopted February 21, 2000, filed as exhibit 10.2 to the company’s registration statement on Form S-8 (No. 333-48906).
C    10.6*    1987 Incentive Compensation Program, filed as exhibit C to the company’s proxy statement for use in connection with its May 13, 1987, annual meeting of stockholders.
C    10.7*    Amendment to 1987 Incentive Compensation Program, filed as exhibit 19.1 to the company’s quarterly report on Form 10-Q for the quarter ended September 30, 1989.

 

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Number and Description of Exhibit

C    10.8*    Baxter International Inc. Non-Employee Director Stock Option Plan for Annual Grant, as amended and restated effective May 6, 2003, filed as exhibit 10.8 to the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2003 (the “June 2003 Form 10-Q”).
C    10.9*    Baxter International Inc. and Subsidiaries Deferred Compensation Plan, as amended and restated effective January 1, 2002, filed as exhibit 10.9 to the March 2002 Form 10-Q.
C    10.10*    First Amendment to the Baxter International Inc. and Subsidiaries Deferred Compensation Plan, filed as exhibit 10.10 to the September 2002 Form 10-Q.
C    10.11*    Stock Option Plan adopted March 14, 1997, filed as exhibit 4.8 to the company’s registration statement on Form S-8 (No. 333-71533).
C    10.12*    Corporate Aviation Policy, filed as exhibit 10.33 to the company’s annual report on Form 10-K for the year ended December 31, 1992.
C    10.13*    1994 Incentive Compensation Program, filed as exhibit A to the company’s proxy statement for use in connection with its April 29, 1994 annual meeting of stockholders.
C    10.14*    1999 Shared Investment Plan, filed as exhibit 10.1 to the company’s quarterly report on Form 10-Q for the quarter ended June 30, 1999.
C    10.15*    Officer Incentive Compensation Plan, filed as exhibit 10.15 to the 2001 Form 10-K.
C    10.16*    Baxter International Inc. Restricted Stock Plan for Non-Employee Directors, as amended and restated effective May 1, 2001, filed as exhibit 10.16 to the quarterly report on Form 10-Q for the quarter ended March 31, 2001.
C    10.17*    1995 Stock Option Grant Terms and Conditions, filed as exhibit 10.34 to the company’s annual report on Form 10-K for the year ended December 31, 1995.
C    10.18*    Stock Option Plan adopted February 17, 1997, filed as exhibit 4.2 to the company’s registration statement on Form S-8 (No. 333-71533).
C    10.19*    November 1996 Stock Option Grant Terms and Conditions, filed as exhibit 10.33 to the 1996 Form 10-K.
C    10.20*    November 1996 Premium Price Stock Option Grant Terms and Conditions, filed as exhibit 10.34 to the 1996 Form 10-K.
C    10.21*    November 1997 Stock Option Grant Terms and Conditions, filed as exhibit 10.36 to the company’s annual report on Form 10-K for the year ended December 31, 1997 (the “1997 Form 10-K”).
C    10.22*    1998 Incentive Compensation Program, filed as exhibit 10.37 to the 1997 Form 10-K.
C    10.23*    Long Term Incentive Plan, filed as exhibit 10.38 to the 1997 Form 10-K.
C    10.24*    1997 Scientific Advisory Board Option Plan, filed as exhibit 4.4 to the company’s registration statement on Form S-8 (No. 333-71533).
C    10.25*    2000 Incentive Compensation Program, filed as exhibit A to the company’s proxy statement for use in connection with its May 2, 2000 annual meeting of stockholders.
C    10.26*    Employee Stock Purchase Plan for United States Employees (as amended and restated effective October 1, 1999), filed as exhibit 10 to the company’s quarterly report on Form 10-Q for the quarter ended September 30, 1999.
C    10.27*    2001 Incentive Compensation Program and Amendment No. 1 thereto, filed as exhibit 10.27 to the 2001 Form 10-K.

 

25


Number and Description of Exhibit

C    10.28*    Stock Option Plan adopted February 17, 1998, filed as exhibit 4.5 to the company’s registration statement on Form S-8 (No. 333-71533).
C    10.29*    Special Stock Option Plan adopted February 17, 1998, filed as exhibit 4.6 to the company’s registration statement on Form S-8 (No. 333-71533).
C    10.30*    2003 Incentive Compensation Program, filed as exhibit A to the company’s proxy statement for use in connection with its May 6, 2003 annual meeting of stockholders.
C    10.31*    Baxter International Inc. Non-Employee Director Compensation Plan adopted May 6, 2003, filed as exhibit 10.31 to the June 2003 Form 10-Q.
C    10.32*    Baxter International Inc. Non-Employee Director Deferred Compensation Plan, filed as exhibit 10.32 to the company’s quarterly report on Form 10-Q for the quarter ended September 30, 2003.
C    10.33*    Separation Agreement with Alan Heller dated December 17, 2003, filed as exhibit 10.33 to the company’s annual report on Form 10-K for the year ended December 31, 2003 (the “2003 Form 10-K”).
C    10.34*    Separation Agreement with Thomas Glanzmann dated January 30, 2004, filed as exhibit 10.34 to the 2003 Form 10-K.
     12.    Computation of Ratio of Earnings to Fixed Charges.
     13.    Selections from the 2003 Annual Report to Stockholders, as amended to reflect the restatement (such report, except to the extent incorporated herein by reference, is being furnished for the information of the Securities and Exchange Commission only and is not deemed to be filed as part of this annual report on Form 10-K/A).
     21.*    Subsidiaries of Baxter International Inc., filed as exhibit 21 to the 2003 Form 10-K
     23.    Consent of PricewaterhouseCoopers LLP.
     24.    Powers of Attorney (included in signature page).
     31.1    Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
     31.2    Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
     32.1    Certification of Chief Executive Officer Pursuant to 18 U.S.C. 1350.
     32.2    Certification of Chief Financial Officer Pursuant to 18 U.S.C. 1350.

* Incorporated herein by reference.

 

C Exhibit contemplated by Item 15(a)(3) of Form 10-K/A.

 

Copies of the above exhibits are available at a charge of 35 cents per page upon written request to the Stockholder Services Department, Baxter International Inc., One Baxter Parkway, Deerfield, Illinois 60015. Copies are also available at a charge of at least 24 cents per page from the Public Reference Room of the Securities and Exchange Commission, Washington, D.C., 20549.

 

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