Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

A reconciliation of the totals reported for the reportable segments to the applicable line items within our accompanying unaudited consolidated statements of operations is as follows (in millions, except percentages). We have revised prior periods to conform to the current year presentation.

	Three Months Ended June 30,				Six Months Ended June 30,
Net Sales	2022		2021		2022		2021
MedSurg	$	1,278	$	1,185	$	2,442	$	2,233
Cardiovascular	2,066		1,865		3,967		3,526
Total net sales of reportable segments	3,344		3,050		6,410		5,758
Specialty Pharmaceuticals(1)	—		—		—		13
Impact of foreign currency fluctuations	(100)		27		(140)		58
	$	3,244	$	3,077	$	6,270	$	5,829

Income (loss) before income taxes
MedSurg	$	398	$	403	$	769	$	748
Cardiovascular	543		529		1,020		989
Total operating income of reportable segments	941		932		1,789		1,736
Specialty Pharmaceuticals(1)	—		—		—		4
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments	(123)		(159)		(189)		(298)
Intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), and certain litigation-related net charges (credits) and EU MDR implementation costs	(192)		(331)		(308)		(445)
Amortization expense	(204)		(180)		(402)		(365)
Operating income (loss)	423		262		889		632
Other expense, net	(78)		(113)		(388)		(157)
Income (loss) before income taxes	$	345	$	149	$	501	$	474
(1) On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Prior to the divestiture, we presented the Specialty Pharmaceuticals business as a standalone operating segment alongside our reportable segments.

	Three Months Ended June 30,				Six Months Ended June 30,
Operating income margin of reportable segments	2022		2021		2022		2021
MedSurg	31.2	%	34.0	%	31.5	%	33.5	%
Cardiovascular	26.3	%	28.4	%	25.7	%	28.0	%