February 13, 2020 / 11:03 PM / in 12 days

BRIEF-Baxter International Says Financial Statements As Of Dec 31, 2018 & 2017, For Yrs Ended Dec 31, 2018, 2017 & 2016, Should No Longer Be Relied Upon

Feb 13 (Reuters) - Baxter International Inc:

* BAXTER INTERNATIONAL - FINANCIAL STATEMENTS AS OF DEC 31, 2018 & 2017, FOR YRS ENDED DEC 31, 2018, 2017 & 2016, SHOULD NO LONGER BE RELIED UPON

* BAXTER - BELIEVES USE OF PREVIOUS EXCHANGE RATE CONVENTION TO GENERATE NON-OPERATING FOREX GAINS & AVOID LOSSES HAD OCCURRED FOR AT LEAST 10 YRS

* BAXTER - IMPACT OF CORRECTING MISSTATEMENTS OF NON-OPERATING FOREX GAINS, LOSSES RELATING TO EARLIER PERIODS WILL REDUCE OPENING RETAINED EARNINGS

* BAXTER - HAS REASSESSED ITS CONCLUSIONS REGARDING EFFECTIVENESS OF COMPANY’S INTERNAL CONTROL OVER FINANCIAL REPORTING AS OF DEC 31, 2018

* BAXTER - DETERMINED THAT ONE OR MORE MATERIAL WEAKNESSES IN INTERNAL CONTROL OVER FINANCIAL REPORTING EXISTED FOR REPORTING PERIOD AS OF DEC 31, 2018

* BAXTER - EXPECTS TO REPORT ONE OR MORE MATERIAL WEAKNESSES AS OF DEC 31, 2019 IN ITS ANNUAL REPORT ON FORM 10-K FOR YEAR ENDED DEC 31, 2019 Source text: (bit.ly/2UTfpGr) Further company coverage:

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