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Pay vs Performance Disclosure

12 Months Ended

24 Months Ended

36 Months Ended

48 Months Ended

60 Months Ended

Dec. 31, 2025

USD ($)

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2024

USD ($)

Dec. 31, 2025

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay versus performance

The following table presents the Company’s pay versus performance disclosure as required by the SEC. The “Compensation Actually Paid” portions of this table are calculated in accordance with SEC rules and include certain amounts that were not received during the respective fiscal year and may not be received in the future. The section of the proxy statement captioned, “Compensation Discussion and Analysis—Basis for Compensation Decisions” describes how the Compensation Committee links pay to performance.


													Value of Initial Fixed $100 Investment Based On:(5)
Year(1)	Summary Compensation Table Total for Ford(2)			Compensation Actually Paid to Ford(3)			Average Summary Compensation Table Total for Non-PEO NEOs(2)			Average Compensation Actually Paid to Non-PEO NEOs(4)			Total Shareholder Return(5)			Peer Group Total Shareholder Return(6)			Net Income (in millions)			Adjusted Diluted EPS(7)
2025		$	24,198,660		$	26,833,361		$	7,458,379		$	7,632,237		$	125		$	148		$	8,663		$	5.15
2024		$	22,777,075		$	24,767,687		$	7,362,647		$	7,713,265		$	142		$	147		$	8,133		$	4.67
2023		$	23,268,171		$	20,487,194		$	6,232,663		$	5,691,925		$	136		$	143		$	5,723		$	4.44
2022		$	21,722,152		$	8,014,859		$	7,402,414		$	2,903,667		$	133		$	140		$	6,933		$	5.34
2021		$	24,914,886		$	43,342,034		$	9,267,772		$	20,389,311		$	167		$	143		$	7,071		$	5.21

Company Selected Measure Name

Adjusted Diluted EPS

Named Executive Officers, Footnote

The Principal Executive Officer (“PEO”) and named officers for the applicable years were as follows:

•2025: Robert B. Ford served as the Company’s PEO for the entirety of 2025. The Company’s other named officers for 2025 were: Philip P. Boudreau; Lisa D. Earnhardt; Daniel G. Salvadori; Christopher J. Scoggins; and Hubert L. Allen.

•2024: Robert B. Ford served as the Company’s PEO for the entirety of 2024. The Company’s other named officers for 2024 were: Philip P. Boudreau; Hubert L. Allen; Lisa D. Earnhardt; Daniel G. Salvadori; and Robert E. Funck, Jr.

•2023: Robert B. Ford served as the Company’s PEO for the entirety of 2023. The Company’s other named officers for 2023 were: Robert E. Funck, Jr.; Philip P. Boudreau; Hubert L. Allen; Lisa D. Earnhardt; and Daniel G. Salvadori.

•2022: Robert B. Ford served as the Company’s PEO for the entirety of 2022. The Company’s other named officers for 2022 were: Robert E. Funck, Jr.; Hubert L. Allen; Daniel G. Salvadori; and Andrea F. Wainer.

•2021: Robert B. Ford served as the Company’s PEO for the entirety of 2021. The Company’s other named officers for 2021 were: Robert E. Funck, Jr.; Hubert L. Allen; Daniel G. Salvadori; Andrea F. Wainer; and Miles D. White.

Peer Group Issuers, Footnote

The TSR Peer Group consists of the Standard & Poor’s 500 Health Care Index, an independently prepared index that includes companies in the healthcare industry.

PEO Total Compensation Amount

$ 24,198,660

$ 22,777,075

$ 23,268,171

$ 21,722,152

$ 24,914,886

PEO Actually Paid Compensation Amount

$ 26,833,361

24,767,687

20,487,194

8,014,859

43,342,034

Adjustment To PEO Compensation, Footnote

Amounts reported in this column are based on total compensation reported for Mr. Ford in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the table below.


		Ford
		2025		2024		2023		2022		2021
	Summary Compensation Table - Total Compensation(a)	$	24,198,660	$	22,777,075	$	23,268,171	$	21,722,152	$	24,914,886
-	Change in Accumulated Benefits Under Defined Benefit and Actuarial Pension Plans(b)	(1,025,608)		(185,753)		(2,894,207)		—		(2,429,795)
+	Service Costs Under Defined Benefit and Actuarial Pension Plans(c)	376,506		400,203		369,300		551,654		482,954
-	Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year(d)	(17,575,808)		(16,454,034)		(14,874,249)		(17,399,594)		(17,379,272)
+	Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year(e)	15,031,850		15,483,191		15,931,161		16,976,728		22,729,219
+	Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years(f)	1,349,086		601,245		365,421		(7,581,367)		10,936,340
+	Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year(g)	4,155,927		1,833,529		(1,969,172)		(6,515,228)		3,865,474
+	Dividends paid on equity awards(h)	322,748		312,231		290,769		260,514		222,228
=	Compensation Actually Paid	$	26,833,361	$	24,767,687	$	20,487,194	$	8,014,859	$	43,342,034

(a)Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year.

(b)Represents the aggregate change in the actuarial present value of Mr. Ford’s accumulated benefit under all defined benefit and actuarial pension plans reported in the Summary Compensation Table for the indicated fiscal year.

(c)Represents the sum of the actuarial present value of Mr. Ford’s benefit under all defined benefit and actuarial pension plans attributable to services rendered during the indicated fiscal year, calculated using the same methodology as used in the Company’s financial statements under generally accepted accounting principles.

(d)Represents the aggregate grant date fair value of option awards and stock awards granted to Mr. Ford reported in the Summary Compensation Table during the indicated fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(e)Represents the aggregate fair value as of the indicated fiscal year-end of Mr. Ford’s outstanding and unvested option awards and stock awards granted during such fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(f)Represents the aggregate change in fair value during the indicated fiscal year of the outstanding and unvested option awards and stock awards granted in prior fiscal years and held by Mr. Ford as of the last day of the indicated fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(g)Represents the aggregate change in fair value, measured from the prior fiscal year-end to the vesting date, of each option award and stock award held by Mr. Ford that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(h)Represents the aggregate value of dividends paid on outstanding and unvested stock awards.

Non-PEO NEO Average Total Compensation Amount

$ 7,458,379

7,362,647

6,232,663

7,402,414

9,267,772

Non-PEO NEO Average Compensation Actually Paid Amount

$ 7,632,237

7,713,265

5,691,925

2,903,667

20,389,311

Adjustment to Non-PEO NEO Compensation Footnote

Amounts reported in this column are based on the average total compensation reported for the Company’s named officers other than the individuals serving as PEO in the Summary Compensation Table for the indicated fiscal year and adjusted as shown in the table below:


		Other NEOs Average(a)
		2025		2024		2023		2022		2021
	Summary Compensation Table - Total Compensation(b)	$	7,458,379	$	7,362,647	$	6,232,663	$	7,402,414	$	9,267,772
-	Change in Accumulated Benefits Under Defined Benefit and Actuarial Pension Plans(c)	(621,646)		(239,056)		(618,518)		—		(503,651)
+	Service Costs Under Defined Benefit and Actuarial Pension Plans(d)	201,450		191,517		168,628		290,245		263,706
-	Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year(e)	(4,634,944)		(4,602,725)		(3,561,910)		(5,406,145)		(6,156,884)
+	Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year(f)	3,964,071		4,331,148		3,820,883		5,274,761		8,052,203
+	Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years(g)	295,744		149,112		90,401		(2,269,110)		6,303,872
+	Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year(h)	892,945		439,849		(511,224)		(2,469,621)		3,050,194
+	Dividends paid on equity awards(i)	76,238		80,773		71,002		81,123		112,099
=	Compensation Actually Paid	$	7,632,237	$	7,713,265	$	5,691,925	$	2,903,667	$	20,389,311

(a)Please see footnote 1 for the named officers included in the average for each indicated fiscal year. Mr. White was a named officer in 2021, and his 2021 compensation is included in the average compensation reported in this table for 2021.

(b)Represents the average Total Compensation as reported in the Summary Compensation Table for the reported named officers in the indicated fiscal year.

(c)Represents the average aggregate change in the actuarial present value of the reported named officers accumulated benefit under all defined benefit and actuarial pension plans reported in the Summary Compensation Table for the indicated fiscal year.

(d)Represents the average sum of the actuarial present value of the reported named officers benefit under all defined benefit and actuarial pension plans attributable to services rendered during the indicated fiscal year, calculated using the same methodology as used in the Company’s financial statements under generally accepted accounting principles.

(e)Represents the average aggregate grant date fair value of the option awards and stock awards granted to the reported named officers reported in the Summary Compensation Table during the indicated fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(f)Represents the average aggregate fair value as of the indicated fiscal year-end of the reported named officers outstanding and unvested option awards and stock awards granted during such fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(g)Represents the average aggregate change in fair value during the indicated fiscal year of the outstanding and unvested option awards and stock awards granted in prior fiscal years and held by the reported named officers as of the last day of the indicated fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(h)Represents the average aggregate change in fair value, measured from the prior fiscal year-end to the vesting date, of each option award and stock award held by the reported named officers that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with the Company’s methodology used for financial reporting purposes.

(i)Represents the average aggregate value of dividends paid on outstanding and unvested stock awards held by the reported named officers during the indicated fiscal year.

Compensation Actually Paid vs. Total Shareholder Return

- Relationship Between Compensation Paid to the PEO and Average Other Named Officers and the Company’s Cumulative TSR – In 2021, the compensation paid to Mr. Ford and the other named officers increased by 49% and 87%, respectively, compared to a TSR of 31%. In 2022, the compensation paid to Mr. Ford and the other named officers decreased by 82% and 86%, respectively, compared to a TSR of negative 21%. In 2023, the compensation paid to Mr. Ford and the other named officers increased by 156% and 96%, respectively, compared to a TSR of 2%. In 2024, the compensation paid to Mr. Ford and the other named officers increased by 20% and 36%, respectively, compared to a TSR of 5%. In 2025, the compensation paid to Mr. Ford increased by 8%, while compensation paid to the other named officers decreased by 1%, respectively, compared to a TSR of 13%.

Compensation Actually Paid vs. Net Income

- Relationship Between Compensation Paid to the PEO and Average Other Named Officers and the Company’s Net Income – In 2021, the compensation paid to Mr. Ford and the other named officers increased by 49% and 87%, respectively, compared to a 57% increase in our net income. In 2022, the compensation paid to Mr. Ford and the other named officers decreased by 82% and 86%, respectively, compared to a 2.0% decrease in our net income. In 2023, the compensation paid to Mr. Ford and the other named officers increased by 156% and 96%, respectively, compared to a 17.5% decrease in our net income. In 2024, the compensation paid to Mr. Ford and the other named officers increased by 20% and 36%, respectively, compared to a 42% increase in our net income. In 2025, the compensation paid to Mr. Ford increased by 8%, while compensation paid to the other named officers decreased by 1%, respectively, compared to a 7% increase in our net income.

Compensation Actually Paid vs. Company Selected Measure

- Relationship Between Compensation Paid to the PEO and Average Other Named Officers and the Company’s Adjusted Diluted EPS Performance – In 2021, the compensation paid to Mr. Ford and the other named officers

increased by 49% and 87%, respectively, compared to a 43% increase in our Adjusted Diluted EPS, as calculated per footnote 7 above. In 2022, the compensation paid to Mr. Ford and the other named officers decreased by 82% and 86%, respectively, compared to a 2.5% increase in our Adjusted Diluted EPS, as calculated per footnote 7 above. In 2023, the compensation paid to Mr. Ford and the other named officers increased by 156% and 96%, respectively, compared to a 16.9% decrease in our Adjusted Diluted EPS, as calculated per footnote 7 above. In 2024, the compensation paid to Mr. Ford and the other named officers increased by 20% and 36%, respectively, compared to a 5.2% increase in our Adjusted Diluted EPS, as calculated per footnote 7 above. In 2025, the compensation paid to Mr. Ford increased by 8%, while compensation paid to the other named officers decreased by 1%, respectively, compared to a 10.3% increase in our Adjusted Diluted EPS, as calculated per footnote 7 above.

Total Shareholder Return Vs Peer Group

- Relationship Between the Company’s TSR and the Peer Group TSR – The TSR for the peer group disclosed in footnote 6 of the table above increased by 0.7% in 2025, increased by 3% in 2024, increased by 2% in 2023, decreased by 2% in 2022 and increased by 26% in 2021, as compared to the Company’s TSR which decreased by 12% in 2025, increased by 5% in 2024, increased by 2% in 2023, decreased by 21% in 2022 and increased by 31% during 2021.

Tabular List, Table

The following list includes the most important performance measures used to link the compensation of our named officers for the most recently completed fiscal year to Company performance and business strategy. Please see page 26 of the CD&A for additional detail.


•Sales			•Gross Margin
•Diluted EPS			•Total Shareholder Return
•Return on Assets			•Return on Equity
•Free Cash Flow			•Division Margin

Total Shareholder Return Amount

167

$ 133

$ 136

$ 142

$ 125

Peer Group Total Shareholder Return Amount

143

$ 140

$ 143

$ 147

$ 148

Net Income (Loss)

$ 8,663,000,000

$ 8,133,000,000

$ 5,723,000,000

$ 6,933,000,000

$ 7,071,000,000

Company Selected Measure Amount | shares

5.15

4.67

4.44

5.34

5.21

PEO Name

Robert B. Ford

Measure:: 1

Pay vs Performance Disclosure

Name

•Diluted EPS

Non-GAAP Measure Description

Adjusted Diluted EPS is diluted earnings per common share from continuing operations excluding specified items, such as intangible amortization expense and various other costs including expenses related to restructuring actions or business acquisitions. As noted in the CD&A, for 2025, the Compensation Committee determined that Adjusted Diluted EPS continues to be viewed as a core driver of the Company’s performance and shareholder value creation.