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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
A reconciliation of sales and operating income 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, 2025
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$1,714 $3,341 $5,055 
Impact of foreign currency fluctuations6 
Total net sales5,061 
Segment expenses:
Cost of products sold470 27.4 %1,046 31.3 %1,516 
Selling, general and administrative expenses517 30.2 %908 27.2 %1,426 
Research and development expenses120 7.0 %315 9.4 %435 
Other segment items(1)
8 0.5 %6 0.2 %14 
Segment operating income(2)
599 34.9 %1,065 31.9 %1,664 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(264)
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
(355)
Amortization expense(225)
Operating income (loss) 819 
Other income (expense), net122 
Income (loss) before income taxes$941 
Six Months Ended June 30, 2025
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$3,312 $6,474 $9,786 
Impact of foreign currency fluctuations(62)
Total net sales9,724 
Segment expenses:
Cost of products sold905 27.3 %1,971 30.4 %2,876 
Selling, general and administrative expenses1,026 31.0 %1,775 27.4 %2,801 
Research and development expenses241 7.3 %597 9.2 %838 
Other segment items(1)
13 0.4 %12 0.2 %25 
Segment operating income(2)
1,127 34.0 %2,119 32.7 %3,246 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(497)
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
(564)
Amortization expense(444)
Operating income (loss) 1,740 
Other income (expense), net6 
Income (loss) before income taxes$1,746 
Three Months Ended June 30, 2024
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$1,495 $2,665 $4,160 
Impact of foreign currency fluctuations(40)
Total net sales4,120 
Segment expenses:
Cost of products sold401 26.8 %851 31.9 %1,251 
Selling, general and administrative expenses454 30.4 %796 29.9 %1,250 
Research and development expenses114 7.6 %231 8.7 %345 
Other segment items(1)
4 0.3 %5 0.2 %9 
Segment operating income(2)
522 34.9 %782 29.4 %1,304 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(185)
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)
Amortization expense(213)
Operating income (loss) 520 
Other income (expense), net(100)
Income (loss) before income taxes$420 
Six months ended June 30, 2024
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$2,912 $5,123 $8,035 
Impact of foreign currency fluctuations(59)
Total net sales7,977 
Segment expenses:
Cost of products sold781 26.8 %1,662 32.4 %2,444 
Selling, general and administrative expenses894 30.7 %1,536 30.0 %2,430 
Research and development expenses221 7.6 %459 9.0 %681 
Other segment items(1)
9 0.3 %9 0.2 %18 
Segment operating income(2)
1,007 34.6 %1,456 28.4 %2,463 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(332)
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
(510)
Amortization expense(427)
Operating income (loss) 1,195 
Other income (expense), net(167)
Income (loss) before income taxes$1,028 
(1) Includes royalty expense.
(2) Calculated as Net sales of reportable segments less Segment expenses.
Reconciliation of Assets from Segment to Consolidated
Three Months Ended
June 30,		Six Months Ended
June 30,
Depreciation expense (in millions)
2025202420252024
MedSurg$28 $27 $55 $52 
Cardiovascular83 71 162 136 
Consolidated depreciation expense$111 $98 $217 $188 

As of
Total assets (in millions)
June 30, 2025December 31, 2024
MedSurg$3,331 $3,093 
Cardiovascular7,498 7,084 
Total assets of reportable segments10,829 10,177 
Goodwill18,076 17,089 
Other intangible assets, net7,260 6,684 
All other corporate assets5,395 5,446 
 $41,559 $39,395 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
As of
Long-lived assets (in millions)
June 30, 2025December 31, 2024
U.S.$1,530 $1,461 
Ireland701 631 
Costa Rica574 530 
Other countries656 672 
Property, plant and equipment, net3,461 3,294 
Goodwill18,076 17,089 
Other intangible assets, net7,260 6,684 
Operating lease right-of-use assets in Other long-term assets
492 449 
 $29,288 $27,516