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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | 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 June 30, |  | Six Months Ended June 30,
Net Sales | 2024 |  | 2023 |  | 2024 |  | 2023
MedSurg | $ | 1,480 |  |  | $ | 1,346 |  | $ | 2,882 |  |  | $ | 2,611
Cardiovascular | 2,632 |  |  | 2,204 |  | 5,058 |  |  | 4,275
Total net sales of reportable segments | 4,112 |  |  | 3,549 |  | 7,939 |  |  | 6,886
Impact of foreign currency fluctuations | 8 |  |  | 51 |  | 37 |  |  | 102
| $ | 4,120 |  |  | $ | 3,599 |  | $ | 7,977 |  |  | $ | 6,988
Income (loss) before income taxes |  |  |  |  |  |  |
MedSurg | $ | 511 |  |  | $ | 458 |  | $ | 986 |  |  | $ | 867
Cardiovascular | 761 |  |  | 582 |  | 1,414 |  |  | 1,135
Total operating income of reportable segments | 1,272 |  |  | 1,040 |  | 2,400 |  |  | 2,002
Unallocated amounts: |  |  |  |  |  |  |
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments | (153) |  |  | (75) |  | (268) |  |  | (173)
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 MDR implementation costs | (386) |  |  | (241) |  | (510) |  |  | (351)
Amortization expense | (213) |  |  | (210) |  | (427) |  |  | (412)
Operating income (loss) | 520 |  |  | 514 |  | 1,195 |  |  | 1,066
Other income (expense), net | (100) |  |  | (88) |  | (167) |  |  | (195)
Income (loss) before income taxes | $ | 420 |  |  | $ | 426 |  | $ | 1,028 |  |  | $ | 870
| Three Months Ended June 30, |  | Six Months Ended June 30,
Operating income margin of reportable segments | 2024 |  | 2023 |  | 2024 |  | 2023
MedSurg | 34.6 | % |  | 34.0 | % |  | 34.2 | % |  | 33.2 | %
Cardiovascular | 28.9 | % |  | 26.4 | % |  | 28.0 | % |  | 26.6 | %

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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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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