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Revenue
 9 Months Ended
Jan. 23, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company's revenues are principally derived from device-based medical therapies and services related to cardiac rhythm disorders, cardiovascular disease, hypertension, neurological surgery technologies, neurological disorders and diseases, spinal conditions and musculoskeletal trauma, chronic pain, ear, nose, and throat conditions, urological and digestive disorders, advanced and general surgical care products, respiratory and monitoring solutions, and diabetes conditions. The Company's primary customers include healthcare systems, clinics, third-party healthcare providers, distributors, and other institutions, including governmental healthcare programs and group purchasing organizations.
The table below illustrates net sales by segment and division and by market geography for the three and nine months ended January 23, 2026 and January 24, 2025. The U.S. revenue includes United States and U.S. territories, and the international revenue includes all other non-U.S. countries.
Worldwide
 
Three months ended
Nine months ended
(in millions)January 23, 2026January 24, 2025January 23, 2026January 24, 2025
Cardiac Rhythm & Heart Failure $1,856 $1,545 $5,394 $4,659 
Structural Heart & Aortic929 874 2,814 2,610 
Coronary & Peripheral Vascular 672 618 1,971 1,876 
Cardiovascular 3,457 3,037 10,179 9,145 
Cranial & Spinal Technologies1,310 1,250 3,819 3,632 
Specialty Therapies746 732 2,191 2,181 
Neuromodulation503 476 1,527 1,413 
Neuroscience 2,558 2,458 7,536 7,226 
Surgical & Endoscopy1,654 1,596 4,945 4,790 
Acute Care & Monitoring519 476 1,483 1,406 
Medical Surgical 2,173 2,072 6,428 6,196 
Diabetes 796 694 2,274 2,027 
Reportable segment net sales8,985 8,260 26,417 24,593 
Other operating segment(1)
32 32 101 106 
Other adjustments(2)
— — 39 (90)
Total net sales$9,017 $8,292 $26,557 $24,610 
 
U.S.
International
U.S.
International
Three months endedNine months ended
(in millions)January 23, 2026January 24, 2025January 23, 2026January 24, 2025January 23, 2026January 24, 2025January 23, 2026January 24, 2025
Cardiovascular$1,589 $1,405 $1,868 $1,632 $4,660 $4,242 $5,519 $4,904 
Neuroscience1,709 1,689 849 769 5,063 4,931 2,474 2,295 
Medical Surgical929 893 1,244 1,180 2,756 2,718 3,671 3,478 
Diabetes248 236 548 457 695 683 1,579 1,344 
Reportable segment net sales4,475 4,223 4,510 4,038 13,174 12,573 13,243 12,020 
Other operating segment(1)
18 15 14 17 60 51 41 55 
Other adjustments(2)
— — — — — — 39 (90)
Total net sales$4,493 $4,237 $4,524 $4,055 $13,234 $12,624 $13,323 $11,986 
(1)Includes operations and ongoing transition agreements from businesses the Company has exited or divested.
(2)Reflects adjustments to the Company's Italian payback accruals as further described below.
The amount of revenue recognized is reduced by sales rebates, distributor chargebacks, and returns. Adjustments to rebates, distributor chargebacks, and returns reserves are recorded as increases or decreases to revenue. At January 23, 2026, $1.0 billion of rebates were classified as other accrued expenses and $640 million of distributor chargebacks were classified as a reduction of accounts receivable in the consolidated balance sheet. At April 25, 2025, $983 million of rebates were classified as other accrued expenses and $680 million of distributor chargebacks were classified as a reduction of accounts receivable in the consolidated balance sheet. During the nine months ended January 24, 2025, the Company recognized $90 million of incremental Italian payback accruals resulting from the July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015. During the nine months ended January 23, 2026, the Company decreased its accrual for the Italian payback by $39 million resulting from the June 30, 2025 legislative decree published by the Italian government and formalized into law in August 2025 confirming a reduction of the amounts due for years 2015 to 2018. The changes in estimates related to the Italian payback accruals were recognized as adjustments to net sales in the consolidated statements of income. Refer to Note 16 in the consolidated financial statements for additional information. Other adjustments to variable consideration during the three and nine months ended January 23, 2026 and January 24, 2025 were not material.
Deferred Revenue and Remaining Performance Obligations
Deferred revenue at January 23, 2026 and April 25, 2025 was $468 million and $446 million, respectively. At January 23, 2026 and April 25, 2025, $373 million and $354 million was included in other accrued expenses, respectively, and $95 million and $92 million was included in other liabilities, respectively. During the nine months ended January 23, 2026, the Company recognized $314 million of revenue that was included in deferred revenue as of April 25, 2025. During the nine months ended January 24, 2025, the Company recognized $251 million of revenue that was included in deferred revenue as of April 26, 2024.
Remaining performance obligations include goods and services that have not yet been delivered or provided under existing, noncancellable contracts with minimum purchase commitments. At January 23, 2026, the estimated revenue expected to be recognized in future periods related to unsatisfied performance obligations for executed contracts with an original duration of one year or more was approximately $0.4 billion. The Company expects to recognize revenue on the majority of these remaining performance obligations over the next three years.