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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

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). We have revised prior periods to conform to the current year presentation.

			Three Months Ended September 30,												Nine Months Ended September 30,
Net Sales			2022						2021						2022						2021
MedSurg			$	1,260					$	1,135					$	3,702					$	3,368
Cardiovascular			2,065						1,789						6,032						5,315
Total net sales of reportable segments			3,325						2,924						9,734						8,683
Specialty Pharmaceuticals(1)			—						—						—						13
Impact of foreign currency fluctuations			(155)						8						(294)						65
			$	3,170					$	2,932					$	9,440					$	8,761

Income (loss) before income taxes
MedSurg			$	399					$	370					$	1,168					$	1,117
Cardiovascular			542						479						1,562						1,468
Total operating income of reportable segments			942						849						2,730						2,585
Specialty Pharmaceuticals(1)			—						—						—						4
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments			(132)						(99)						(321)						(397)
Intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), and certain litigation-related net charges (credits) and EU MDR implementation costs			(249)						(178)						(558)						(624)
Amortization expense			(202)						(184)						(604)						(549)
Operating income (loss)			358						387						1,247						1,019
Other expense, net			(114)						95						(502)						(62)
Income (loss) before income taxes			$	245					$	483					$	745					$	957
(1) On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Prior to the divestiture, we presented the Specialty Pharmaceuticals business as a standalone operating segment alongside our reportable segments.

			Three Months Ended September 30,												Nine Months Ended September 30,
Operating income margin of reportable segments			2022						2021						2022						2021
MedSurg			31.7		%				32.6		%				31.6		%				33.2		%
Cardiovascular			26.3		%				26.8		%				25.9		%				27.6		%

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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- References

No definition available.

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