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Revenue
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
NOTE L – REVENUE

We generate revenue primarily from the sale of single-use medical devices and present revenue net of sales taxes within our accompanying unaudited consolidated statements of operations. Our business structure is organized into five operating segments. The following tables disaggregate our revenue from contracts with customers by component and geographic region (in millions). We allocate revenue from contracts with customers to geographic regions based on the location where the sale originated.

Three Months Ended September 30,
20232022
BusinessesU.S.Int'lTotalU.S.Int'lTotal
Endoscopy$382 $247 $629 $342 $217 $559 
Urology341 142 483 315 118 433 
Neuromodulation175 55 229 173 48 221 
MedSurg898 443 1,341 830 383 1,213 
   Interventional Cardiology Therapies182 401 583 190 359 549 
   Watchman291 31 323 234 28 262 
   Cardiac Rhythm Management355 197 552 338 181 519 
    Electrophysiology89 101 190 73 75 148 
Cardiology918 730 1,647 836 643 1,479 
Peripheral Interventions283 255 538 269 210 479 
Cardiovascular1,201 984 2,185 1,104 853 1,958 
Total Net Sales$2,099 $1,427 $3,527 $1,934 $1,236 $3,170 


Nine Months Ended September 30,
20232022
BusinessesU.S.Int'lTotalU.S.Int'lTotal
Endoscopy$1,118 $719 $1,836 $992 $657 $1,649 
Urology1,007 430 1,437 921 375 1,296 
Neuromodulation530 177 708 519 150 669 
MedSurg2,655 1,326 3,981 2,432 1,182 3,614 
Interventional Cardiology Therapies554 1,248 1,803 568 1,099 1,667 
Watchman843 87 930 662 76 738 
Cardiac Rhythm Management1,057 609 1,665 1,005 575 1,580 
Electrophysiology259 300 560 196 222 418 
Cardiology2,714 2,244 4,958 2,431 1,972 4,403 
Peripheral Interventions844 733 1,577 782 641 1,423 
Cardiovascular3,557 2,977 6,534 3,213 2,613 5,826 
Total Net Sales$6,212 $4,303 $10,515 $5,645 $3,795 $9,440 

Refer to Note K- Segment Reporting for information on our reportable segments.
Three Months Ended September 30,Nine Months Ended September 30,
Geographic Regions2023202220232022
U.S.$2,099 $1,934 $6,212 $5,645 
Europe, Middle East and Africa671 585 2,107 1,869 
Asia-Pacific611 532 1,784 1,579 
Latin America and Canada146 119 412 347 
Total Net Sales$3,527 $3,170 $10,515 $9,440 
Emerging Markets(1)
$594 $519 $1,715 $1,457 
(1)Periodically, we assess our list of Emerging Markets countries, and effective January 1, 2023, modified our list to include all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada. We have revised prior year amounts to conform to the current year's presentation.

Deferred Revenue

Contract liabilities are classified within Other current liabilities and Other long-term liabilities within our accompanying unaudited consolidated balance sheets. Our deferred revenue balance was $547 million as of September 30, 2023 and $509 million as of December 31, 2022. Our contractual liabilities are primarily composed of deferred revenue related to the LATITUDE™ Patient Management System within our Cardiology business, for which revenue is recognized over the average service period based on device and patient longevity. Our contractual liabilities also include deferred revenue related to the LUX-Dx™ Insertable Cardiac Monitor system, also within our Cardiology business, for which revenue is recognized over the average service period based on device longevity and usage. We recognized revenue of $52 million in the third quarter and $164 million in the first nine months of 2023 that was included in the above contract liability balance as of December 31, 2022. We have elected not to disclose the transaction price allocated to unsatisfied performance obligations when the original expected contract duration is one year or less. In addition, we have not identified material unfulfilled performance obligations for which revenue is not currently deferred.

Variable Consideration
For additional information on variable consideration, refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8. Financial Statements and Supplementary Data of our most recent Annual Report on Form 10-K.