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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE O – SEGMENT REPORTING

Our seven core businesses are organized into three reportable segments: MedSurg, Rhythm and Neuro, and Cardiovascular, which represent an aggregation of our operating segments that generate revenues from the sale of medical devices. We measure and evaluate our reportable segments based on net sales of reportable segments, operating income of reportable segments, excluding intersegment profits, and operating income of reportable segments as a percentage of net sales of reportable segments. Operating income of reportable segments as a percentage of net sales of reportable segments is defined as operating income of reportable segments divided by net sales of reportable segments. We exclude from operating income of reportable segments certain corporate-related expenses and certain transactions or adjustments that our chief operating decision maker (CODM) considers to be non-operational, such as amounts related to amortization expense, 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), certain investment portfolio net losses (gains) and EU Medical Device Regulation (MDR) implementation costs. Although we exclude these amounts from operating income of reportable segments, they are included in reported Income (loss) before income taxes in our consolidated statements of operations and are included in the reconciliation below.

Following our acquisition of BTG, we have included BTG’s Interventional Medicine business within our Peripheral Interventions operating segment, within the Cardiovascular reportable segment. We present BTG’s Specialty Pharmaceuticals business as a standalone operating segment alongside our reportable segments.

A reconciliation of the totals reported for the reportable segments to the applicable line items in our accompanying consolidated statements of operations is as follows (in millions, except percentages):
 Year Ended December 31,
Net sales202020192018
MedSurg$3,066 $3,307 $3,007 
Rhythm and Neuro2,752 3,140 3,041 
Cardiovascular3,876 4,208 3,777 
Total net sales of reportable segments 9,694 10,654 9,823 
All other (Specialty Pharmaceuticals)219 81 n/a
Consolidated net sales$9,913 $10,735 $9,823 

Year Ended December 31,
Depreciation expense202020192018
MedSurg$80 $75 $72 
Rhythm and Neuro96 92 91 
Cardiovascular154 138 133 
Total depreciation expense of reportable segments330 306 296 
All other (Specialty Pharmaceuticals)3 $6 n/a
Consolidated depreciation expense$333 $311 $296 
Year Ended December 31,
Income (loss) before income taxes202020192018
MedSurg$1,079 $1,204 $1,102 
Rhythm and Neuro439 666 655 
Cardiovascular661 1,137 1,117 
Total operating income of reportable segments 2,179 3,007 2,875 
All other (Specialty Pharmaceuticals)143 56 n/a
Unallocated amounts:
Corporate expenses, including hedging activities(405)(264)(372)
Goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits) and EU Medical Device Regulation (MDR) implementation costs
(1,208)(582)(398)
Amortization expense(789)(699)(599)
Operating income (loss)(80)1,518 1,506 
Other expense, net1 (831)(85)
Income (loss) before income taxes$(79)$687 $1,422 

Operating income of reportable segments as a percentage of net sales of reportable segmentsYear Ended December 31,
202020192018
MedSurg35.2 %36.4 %36.7 %
Rhythm and Neuro15.9 %21.2 %21.5 %
Cardiovascular17.1 %27.0 %29.6 %

As of December 31,
Total assets20202019
MedSurg$1,638 $1,803 
Rhythm and Neuro1,827 1,873 
Cardiovascular2,461 2,535 
Total assets of reportable segments5,926 6,211 
All other (Specialty Pharmaceuticals)1,133 211 
Goodwill9,951 10,176 
Other intangible assets, net5,917 7,886 
All other corporate assets7,850 6,082 
 $30,777 $30,565 

Following the announcement of our plan to sell our Specialty Pharmaceuticals business, as of December 31, 2020, we have classified the assets and liabilities of our Specialty Pharmaceuticals business (disposal group) as held for sale within our consolidated balance sheets at their respective carrying values, which approximates fair value, less costs to sell. Accordingly, the total assets of the Specialty Pharmaceuticals business as of December 31, 2020 reflected above include goodwill and intangible assets attributable to the disposal group that were not previously allocated to our reportable segments.
As of December 31,
Long-lived assets202020192018
U.S.$1,151 $1,148 $1,061 
Ireland382 327 242 
Other countries551 604 478 
Property, plant and equipment, net2,084 2,079 1,782 
Goodwill9,951 10,176 7,911 
Other intangible assets, net5,917 7,886 6,372 
Operating lease right-of-use assets in Other long-term assets
458 336 — 
 $18,409 $20,477 $16,064