Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

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). Prior period amounts have been restated at constant currency to conform to current year presentation.

	Three Months Ended June 30,				Six Months Ended June 30,
Net Sales	2024		2023		2024		2023
MedSurg	$	1,480	$	1,346	$	2,882	$	2,611
Cardiovascular	2,632		2,204		5,058		4,275
Total net sales of reportable segments	4,112		3,549		7,939		6,886
Impact of foreign currency fluctuations	8		51		37		102
	$	4,120	$	3,599	$	7,977	$	6,988

Income (loss) before income taxes
MedSurg	$	511	$	458	$	986	$	867
Cardiovascular	761		582		1,414		1,135
Total operating income of reportable segments	1,272		1,040		2,400		2,002
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments	(153)		(75)		(268)		(173)
Goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits) and EU MDR implementation costs	(386)		(241)		(510)		(351)
Amortization expense	(213)		(210)		(427)		(412)
Operating income (loss)	520		514		1,195		1,066
Other income (expense), net	(100)		(88)		(167)		(195)
Income (loss) before income taxes	$	420	$	426	$	1,028	$	870

	Three Months Ended June 30,				Six Months Ended June 30,
Operating income margin of reportable segments	2024		2023		2024		2023
MedSurg	34.6	%	34.0	%	34.2	%	33.2	%
Cardiovascular	28.9	%	26.4	%	28.0	%	26.6	%