Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

A reconciliation of the totals reported 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,				Nine Months Ended September 30,
Net Sales	2023		2022		2023		2022
MedSurg	$	1,318	$	1,199	$	3,900	$	3,521
Cardiovascular	2,149		1,925		6,378		5,620
Total net sales of reportable segments	3,468		3,124		10,277		9,141


Impact of foreign currency fluctuations	59		46		238		300
	$	3,527	$	3,170	$	10,515	$	9,440



Income (loss) before income taxes
MedSurg	$	446	$	359	$	1,293	$	1,048
Cardiovascular	570		451		1,677		1,294
Total operating income of reportable segments	1,016		810		2,970		2,342
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments	(97)		(1)		(221)		67
Goodwill and 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	(19)		(249)		(370)		(558)
Amortization expense	(208)		(202)		(620)		(604)

Operating income (loss)	693		358		1,759		1,247
Other expense, net	(83)		(114)		(279)		(502)
Income (loss) before income taxes	$	610	$	245	$	1,480	$	745


	Three Months Ended September 30,				Nine Months Ended September 30,
Operating income margin of reportable segments	2023		2022		2023		2022
MedSurg	33.8	%	30.0	%	33.2	%	29.8	%
Cardiovascular	26.5	%	23.4	%	26.3	%	23.0	%