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Redeemable Noncontrolling Interests and Noncontrolling Interests

3 Months Ended

Jun. 30, 2026

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests and Noncontrolling Interests

Redeemable Noncontrolling Interests and Noncontrolling Interests

Redeemable Noncontrolling Interests

Noncontrolling interests with redemption features, such as put rights, that are not solely within the Company’s control are considered redeemable noncontrolling interests.

On June 1, 2026, the Company completed a transaction under which funds managed by affiliates of Apollo Funds acquired an approximately 13% minority ownership interest in the Company’s Medical‑Surgical Solutions business through an investment of approximately $1.25 billion in the business’s convertible preferred equity. The 13% minority interest is classified as a redeemable noncontrolling interest.

During the three months ended June 30, 2025, the Company recognized redeemable noncontrolling interests of $25 million related to its acquisition of PRISM Vision and $700 million related to its acquisition of Core Ventures. The Company utilized a Monte Carlo simulation model for its periodic valuation of the redeemable noncontrolling interests for both acquisitions.

Redeemable noncontrolling interests are presented outside of stockholders’ deficit in the Company’s Condensed Consolidated Balance Sheet. Refer to Financial Note 2, “Business Acquisitions and Divestitures,” for additional information on the activity discussed above.

Noncontrolling Interests

Net income attributable to noncontrolling interests primarily includes third-party equity interests in the Company’s consolidated entities, including ClarusONE Sourcing Services LLP, Vantage Oncology Holdings, LLC, and SCRI Oncology, LLC.

The components of the changes in noncontrolling interests and redeemable noncontrolling interests for the three months ended June 30, 2026 and 2025 were as follows:

			Fiscal 2027												Fiscal 2026
(In millions)			Noncontrolling Interests						Redeemable Noncontrolling Interests						Noncontrolling Interests						Redeemable Noncontrolling Interests
Beginning balance			$	395					$	943					$	380					$	—
Net income attributable to noncontrolling interests (1)			35						9						47						—
Adjustment to fair value (2)			—						1						—						—
Adjustment to redemption value in net income attributable to noncontrolling interests (3)			—						374						—						—
Sale of noncontrolling interest in Medical-Surgical Solutions, net			—						1,238						—						—
Payments to noncontrolling interests			(52)						—						(47)						—
Acquisition of PRISM Vision			—						—						—						25
Acquisition of Core Ventures			—						—						—						700
Other			(2)						(2)						(1)						—
Ending balance			$	376					$	2,563					$	379					$	725

(1)Includes allocation of net income attributable to noncontrolling interests and redeemable noncontrolling interests during each respective period.

(2)Includes a redeemable noncontrolling interests fair value adjustment for Core Ventures for the three months ended June 30, 2026.

(3)Includes redemption value adjustments of $293 million and $81 million related to the Medical-Surgical Solutions business and Core Ventures, respectively, for the three months ended June 30, 2026.

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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- References

No definition available.

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