XML 41 R30.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 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 September 30, 2025
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$1,714 $3,327 $5,041 
Impact of foreign currency fluctuations23 
Total net sales5,065 
Segment expenses:
Cost of products sold483 28.2 %930 27.9 %1,413 
Selling, general and administrative expenses531 31.0 %920 27.6 %1,451 
Research and development expenses128 7.5 %337 10.1 %465 
Other segment items(1)
5 0.3 %6 0.2 %11 
Segment operating income(2)
566 33.0 %1,135 34.1 %1,701 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(282)
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
(146)
Amortization expense(225)
Operating income (loss) 1,048 
Other income (expense), net(110)
Income (loss) before income taxes$939 
Nine Months Ended September 30, 2025
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$5,027 $9,801 $14,827 
Impact of foreign currency fluctuations(39)
Total net sales14,788 
Segment expenses:
Cost of products sold1,388 27.6 %2,901 29.6 %4,289 
Selling, general and administrative expenses1,557 31.0 %2,695 27.5 %4,252 
Research and development expenses369 7.3 %934 9.5 %1,303 
Other segment items(1)
18 0.4 %18 0.2 %37 
Segment operating income(2)
1,693 33.7 %3,253 33.2 %4,947 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(779)
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
(711)
Amortization expense(669)
Operating income (loss) 2,788 
Other income (expense), net(103)
Income (loss) before income taxes$2,685 
Three Months Ended September 30, 2024
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$1,484 $2,740 $4,224 
Impact of foreign currency fluctuations(14)
Total net sales4,209 
Segment expenses:
Cost of products sold412 27.8 %838 30.6 %1,250 
Selling, general and administrative expenses440 29.7 %791 28.9 %1,231 
Research and development expenses113 7.6 %244 8.9 %357 
Other segment items(1)
(0)0.0 %5 0.2 %4 
Segment operating income(2)
518 34.9 %862 31.5 %1,380 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(234)
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
(209)
Amortization expense(205)
Operating income (loss) 733 
Other income (expense), net(65)
Income (loss) before income taxes$669 
Nine Months Ended September 30, 2024
MedSurg% of net salesCardiovascular% of net salesTotal
Net sales of reportable segments$4,396 $7,863 $12,259 
Impact of foreign currency fluctuations(73)
Total net sales12,186 
Segment expenses:
Cost of products sold1,193 27.1 %2,500 31.8 %3,694 
Selling, general and administrative expenses1,334 30.3 %2,327 29.6 %3,661 
Research and development expenses335 7.6 %703 8.9 %1,038 
Other segment items(1)
9 0.2 %14 0.2 %23 
Segment operating income(2)
1,525 34.7 %2,318 29.5 %3,843 
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments(565)
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
(719)
Amortization expense(631)
Operating income (loss) 1,928 
Other income (expense), net(231)
Income (loss) before income taxes$1,697 
(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
September 30,		Nine Months Ended
September 30,
Depreciation expense (in millions)
2025202420252024
MedSurg$29 $27 $84 $79 
Cardiovascular89 75 250 211 
Consolidated depreciation expense$117 $102 $334 $290 

As of
Total assets (in millions)
September 30, 2025December 31, 2024
MedSurg$3,392 $3,093 
Cardiovascular7,799 7,084 
Total assets of reportable segments11,191 10,177 
Goodwill18,214 17,089 
Other intangible assets, net7,162 6,684 
All other corporate assets6,140 5,446 
 $42,707 $39,395 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
As of
Long-lived assets (in millions)
September 30, 2025December 31, 2024
U.S.$1,812 $1,461 
Ireland707 631 
Costa Rica593 530 
Other countries683 672 
Property, plant and equipment, net3,795 3,294 
Goodwill18,214 17,089 
Other intangible assets, net7,162 6,684 
Operating lease right-of-use assets in Other long-term assets
495 449 
 $29,665 $27,516