Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE C – GOODWILL AND OTHER INTANGIBLE ASSETS

The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for intangible assets subject to amortization and accumulated goodwill impairment charges are as follows:


	As of March 31, 2025				As of December 31, 2024
(in millions)	Gross Carrying Amount		Accumulated Amortization/ Write-offs		Gross Carrying Amount		Accumulated Amortization/ Write-offs
Technology-related	$	14,406	$	(8,799)	$	14,327	$	(8,605)
Patents	481		(380)		481		(381)
Other intangible assets	2,406		(1,643)		2,380		(1,612)
Amortizable intangible assets	$	17,293	$	(10,821)	$	17,188	$	(10,598)

Goodwill	$	27,240	$	(9,900)	$	26,989	$	(9,900)

IPR&D	$	94			$	94

Indefinite-lived intangible assets	$	94			$	94

The increase in our balance of goodwill is related primarily to our acquisition of Cortex in the first quarter of 2025.

The following represents a roll forward of our goodwill balance by reportable segment:


(in millions)	MedSurg		Cardiovascular		Total
Balance as of December 31, 2024	$	7,483	$	9,606	$	17,089


Goodwill acquired	—		205		205
Impact of foreign currency fluctuations and purchase price adjustments	17		30		47
Balance as of March 31, 2025	$	7,500	$	9,841	$	17,340

Goodwill and Other Intangible Asset Impairments

We did not record any goodwill or other intangible asset impairment charges in the first quarter of 2025 or 2024. We test our goodwill balances in the second quarter of each year as of April 1 for impairment, or more frequently if impairment indicators are present or changes in circumstances suggest an impairment may exist. 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 for further discussion of our annual goodwill and intangible asset impairment testing.