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Restructuring
6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
Transform for the Future
In November 2025, the Company approved its new multiyear 'Transform for the Future' global initiative (the "Program") to further enable its long-term growth strategy and ensure it's best positioned to compete-to-win in a rapidly changing healthcare environment. Designed to transform the cost structure, enhance operational efficiency, and reposition for profitable growth, the primary activities of the Program include operating structure optimization and workforce reorganization, procurement and cost management, supply chain, manufacturing and global footprint optimization, and streamlining systems and increased automation to improve operational efficiency. Once fully implemented, the four-year program is expected to generate approximately $500 million in annual cost savings, a portion of which will be reinvested in strategic growth initiatives. The Company anticipates cumulative pretax costs related to the Program will be approximately $500 million.
The related restructuring charges for periods presented were recorded in the consolidated statements of income as follows:
Three months ended June 30,Six months ended June 30,
(Millions)2026202520262025
Cost of product$$— $10 $— 
Cost of software and rentals— — — — 
Selling, general and administrative expenses33 — 66 — 
Research and development expenses— — — 
Total operating income impact$42 $— $79 $— 
Restructuring actions, including cash and non-cash impacts, are as follows:
(Millions)Employee Termination BenefitsOther Restructuring-relatedTotal
Expense incurred in 2025$42 $11 $53 
Non-cash changes(4)— (4)
Cash payments(4)(7)(11)
Accrued liabilities as of December 31, 2025$34 $$39 
Expense incurred in first quarter of 2026$$35 $37 
Non-cash changes— 
Cash payments(16)(6)(22)
Accrued liabilities as of March 31, 2026$22 $34 $56 
Expense incurred in second quarter of 2026$11 $31 $42 
Non-cash changes— (8)(8)
Cash payments(10)(39)(48)
Accrued liabilities as of June 30, 2026$24 $18 $42 
Other includes charges associated with salaries and wages of employees fully dedicated to the Program, asset write-downs related to transformation activities and consulting service fees. All Program charges were recognized within Corporate and are not included within business segment results.
Solventum Way
In the fourth quarter of 2024, the Company announced its Solventum Way restructuring program, which is a reorganization designed to establish a more flexible and decentralized structure, create headroom to invest for growth and an operating model that enhances margins over time. The actions under the Solventum Way restructuring program are substantially complete.
The related restructuring charges for periods presented were recorded in the consolidated statements of income as follows:
Three months ended June 30,Six months ended June 30,
(Millions)2026202520262025
Cost of product$— $$— $11 
Cost of software and rentals— — — — 
Selling, general and administrative expenses— 10 
Research and development expenses— — 
Total operating income impact$— $$$26 
Restructuring actions, including cash and non-cash impacts, are as follows:
(Millions)Employee Termination Benefits and Other
Accrued liabilities as of December 31, 2024$53 
Expense incurred in 202527 
Non-cash changes(4)
Cash payments(67)
Accrued liabilities as of December 31, 2025$
Expense incurred in first quarter of 2026$
Cash payments(6)
Accrued liabilities as of March 31, 2026$
Expense incurred in second quarter of 2026$— 
Cash payments(3)
Accrued liabilities as of June 30, 2026$
Other primarily includes charges associated with asset write-offs and other contractual third party termination costs. All program charges were recognized within Corporate and are not included within business segment results.