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Revenue
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
NOTE L – REVENUE

We generate revenue primarily from the sale of single-use medical devices and present revenue net of sales taxes within our accompanying unaudited consolidated statements of operations. In the first quarter of 2022, we reorganized our business structure into five operating segments. Additionally, on March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business and our consolidated net sales for the first nine months of 2021 include Specialty Pharmaceuticals up to the date of the closing of the transaction. The following tables disaggregate our revenue from contracts with customers by component and geographic region (in millions). We have revised prior periods to conform to current year presentation:

Three Months Ended September 30,
20222021
BusinessesU.S.Int'lTotalU.S.Int'lTotal
Endoscopy$342 $217 $559 $306 $227 $533 
Urology and Pelvic Health315 118 433 275 109 384 
Neuromodulation173 48 221 175 46 221 
MedSurg830 383 1,213 756 382 1,138 
   Interventional Cardiology Therapies190 359 549 193 341 534 
   Watchman234 28 262 183 26 210 
   Cardiac Rhythm Management338 181 519 312 199 512 
    Electrophysiology73 75 148 32 55 86 
Cardiology836 643 1,479 720 622 1,342 
Peripheral Interventions269 210 479 250 202 452 
Cardiovascular1,104 853 1,958 970 824 1,794 
Total Net Sales$1,934 $1,236 $3,170 $1,726 $1,206 $2,932 

Nine Months Ended September 30,
20222021
BusinessesU.S.Int'lTotalU.S.Int'lTotal
Endoscopy$992 $657 $1,649 $902 $681 $1,583 
Urology and Pelvic Health921 375 1,296 817 325 1,142 
Neuromodulation519 150 669 520 145 666 
MedSurg2,432 1,182 3,614 2,239 1,151 3,390 
Interventional Cardiology Therapies568 1,099 1,667 593 1,041 1,634 
Watchman662 76 738 524 72 596 
Cardiac Rhythm Management1,005 575 1,580 903 603 1,505 
Electrophysiology196 222 418 96 169 265 
Cardiology2,431 1,972 4,403 2,115 1,885 4,000 
Peripheral Interventions782 641 1,423 748 609 1,358 
Cardiovascular3,213 2,613 5,826 2,864 2,494 5,358 
Specialty Pharmaceuticals— — — 10 4 13 
Total Net Sales$5,645 $3,795 $9,440 $5,112 $3,649 $8,761 

Refer to Note K- Segment Reporting for information on our reportable segments.
Three Months Ended September 30,Nine Months Ended September 30,
Regions2022202120222021
U.S.$1,934 $1,726 $5,645 $5,103 
Europe, Middle East and Africa585 590 1,869 1,855 
Asia-Pacific532 517 1,579 1,511 
Latin America and Canada119 99 347 279 
Medical Devices3,170 2,932 9,440 8,748 
U.S.— — — 10 
International— — — 4 
Specialty Pharmaceuticals— — — 13 
Total Net Sales$3,170 $2,932 $9,440 $8,761 
Emerging Markets(1)
$454 $354 $1,271 $1,031 
(1)    We define Emerging Markets as the 20 countries that we believe have strong growth potential based on their economic conditions, healthcare sectors and our global capabilities. Periodically, we assess our list of Emerging Markets countries, which currently includes the following countries: Brazil, Chile, China, Colombia, Czech Republic, India, Indonesia, Malaysia, Mexico, Philippines, Poland, Russia, Saudi Arabia, Slovakia, South Africa, South Korea, Taiwan, Thailand, Turkey and Vietnam.

Deferred Revenue

Contract liabilities are classified within Other current liabilities and Other long-term liabilities within our accompanying unaudited consolidated balance sheets. Our deferred revenue balance was $494 million as of September 30, 2022 and $484 million as of December 31, 2021. Our contractual liabilities are primarily composed of deferred revenue related to the LATITUDE™ Patient Management System within our Cardiology business, for which revenue is recognized over the average service period based on device and patient longevity. Our contractual liabilities also include deferred revenue related to the LUX-Dx™ Insertable Cardiac Monitor (ICM) system, also within our Cardiology business, for which revenue is recognized over the average service period based on device longevity and usage. We recognized revenue of $39 million in the third quarter and $116 million in the first nine months of 2022 that was included in the above contract liability balance as of December 31, 2021. We have elected not to disclose the transaction price allocated to unsatisfied performance obligations when the original expected contract duration is one year or less. In addition, we have not identified material unfulfilled performance obligations for which revenue is not currently deferred.

Variable Consideration
For additional information on variable consideration, refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K.