Edwards Lifesciences (EW) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

COVER

COVER - shares shares in Millions	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	1-15525
Entity Registrant Name	EDWARDS LIFESCIENCES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4316614
Entity Address, Address Line One	One Edwards Way
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Zip Code	92614
City Area Code	949
Local Phone Number	250-2500
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	EW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		589.8
Entity Central Index Key	0001099800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 3,676.4	$ 1,132.3
Short-term investments (Note 6)	769.7	500.5
Accounts receivable, net of allowances of $12.6 and $8.2, respectively	716	771.5
Other receivables	95.5	56.6
Inventories (Note 2)	1,104.2	903.5
Prepaid expenses	114.9	128.8
Other current assets	231	224.9
Current assets of discontinued operations (Note 5)	20	317.6
Total current assets	6,727.7	4,035.7
Long-term investments (Note 6)	319.6	583.9
Property, plant, and equipment, net	1,675.7	1,591
Operating lease right-of-use assets	104.4	84.4
Goodwill	1,605.3	1,145.1
Other intangible assets, net	956.1	399.4
Deferred income taxes	888.4	749.4
Other assets (Note 2)	683.5	463.2
Non-current assets of discontinued operations (Note 5)	10.5	311.1
Total assets	12,971.2	9,363.2
Current liabilities
Accounts payable	172.8	186.6
Accrued and other liabilities (Note 2)	1,745.3	856.4
Operating lease liabilities	24.2	22.9
Current liabilities of discontinued operations (Note 5)	1.8	129.5
Total current liabilities	1,944.1	1,195.4
Long-term debt	597.5	597
Taxes payable	1.1	80.6
Operating lease liabilities	85	65.2
Uncertain tax positions	345.6	335
Litigation settlement accrual	63.9	94.2
Other liabilities	322.6	251.3
Non-current liabilities of discontinued operations (Note 5)	0	25.1
Total liabilities	3,359.8	2,643.8
Commitments and contingencies (Note 13)
Stockholders' equity
Preferred stock, $0.01 par value, authorized 50.0 shares, no shares outstanding	0	0
Common stock, $1.00 par value, 1,050.0 shares authorized, 654.3 and 650.5 shares issued, and 589.8 and 601.1 shares outstanding, respectively	654.3	650.5
Additional paid-in capital	2,452.1	2,274.4
Retained earnings	12,781.4	8,992.4
Accumulated other comprehensive loss (Note 14)	(252.5)	(242.8)
Treasury stock, at cost, 64.5 and 49.4 shares, respectively	(6,089.7)	(5,024.5)
Total Edwards Lifesciences Corporation stockholders' equity	9,545.6	6,650
Noncontrolling interest	65.8	69.4
Total stockholders' equity	9,611.4	6,719.4
Total liabilities and equity	$ 12,971.2	$ 9,363.2

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 12.6	$ 8.2
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	1,050,000,000	1,050,000,000
Common stock, shares issued (in shares)	654,300,000	650,500,000
Common stock, shares outstanding (in shares)	589,800,000	601,100,000
Treasury stock (in shares)	64,500,000	49,400,000

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,354.4	$ 1,243.4	$ 4,053.7	$ 3,743.6
Cost of sales	262.9	250.6	825.3	727.4
Gross profit	1,091.5	992.8	3,228.4	3,016.2
Selling, general, and administrative expenses	421.4	381.9	1,297.3	1,165.9
Research and development expenses	253.4	242.8	781.9	720.8
Intellectual property agreement and certain litigation expenses (Note 3)	10.8	2.2	27.8	193.6
Change in fair value of contingent consideration liabilities (Note 9)	0	0	0	(26.2)
Restructuring expenses (Note 4)	32.9	0	32.9	0
Other operating expenses, net	22.4	0	22.4	0
Operating income, net	350.6	365.9	1,066.1	962.1
Interest income, net	(24.3)	(15.1)	(56.3)	(32.8)
Other non-operating income, net	(27.9)	(6.6)	(35.6)	(10.3)
Income from continuing operations before provision for income taxes	402.8	387.6	1,158	1,005.2
Provision for income taxes	40.7	52.7	107	118.3
Net income from continuing operations	362.1	334.9	1,051	886.9
Income from discontinued operations, net of tax	2,707.3	48.8	2,734.4	142.8
Net income	3,069.4	383.7	3,785.4	1,029.7
Net loss attributable to noncontrolling interest	(1.4)	(1.2)	(3.6)	(2.8)
Net income attributable to Edwards Lifesciences Corporation	$ 3,070.8	$ 384.9	$ 3,789	$ 1,032.5
Basic:
Continuing operations (in dollars per share)	$ 0.61	$ 0.55	$ 1.76	$ 1.47
Discontinued operations (in dollars per share)	4.53	0.08	4.55	0.23
Basic earnings per share (in dollars per share)	5.14	0.63	6.31	1.70
Diluted:
Continuing operations (in dollars per share)	0.61	0.55	1.75	1.46
Discontinued operations (in dollars per share)	4.52	0.08	4.54	0.23
Diluted earnings per share (in dollars per share)	$ 5.13	$ 0.63	$ 6.29	$ 1.69
Weighted-average number of common shares outstanding:
Basic (in shares)	597.2	607	600.3	607.2
Diluted (in shares)	598.1	609.5	602.2	610.2

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 3,069.4	$ 383.7	$ 3,785.4	$ 1,029.7
Other comprehensive (loss) income, net of tax (Note 14):
Foreign currency translation adjustments	4.3	(23.4)	(20.8)	(31.1)
Unrealized (loss) gain on hedges	(42.7)	18.2	(8.9)	6.3
Unrealized pension credits	0	0	0.2	0.1
Unrealized gain on available-for-sale investments	6.1	10.6	19.8	29.5
Other comprehensive (loss) income, net of tax	(32.3)	5.4	(9.7)	4.8
Comprehensive income	3,037.1	389.1	3,775.7	1,034.5
Comprehensive loss attributable to noncontrolling interest	(1.4)	(1.2)	(3.6)	(2.8)
Comprehensive income attributable to Edwards Lifesciences Corporation	$ 3,038.5	$ 390.3	$ 3,779.3	$ 1,037.3

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 3,785.4	$ 1,029.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	112.6	108.2
Non-cash operating lease cost	21.6	20.7
Stock-based compensation	130.6	108.9
Gain on sale of business (Note 5)	(3,337.4)	0
Change in fair value of contingent consideration liabilities (Note 9)	0	(26.2)
Deferred income taxes	(224.9)	(180.7)
Gain on remeasurement of previously held interest upon acquisition (Note 8)	(24.6)	0
Other	2.7	8.8
Changes in operating assets and liabilities:
Accounts and other receivables, net	15.3	(123)
Inventories	(204.9)	(189.7)
Accounts payable and accrued liabilities	92.6	112.6
Income taxes	301.8	106.3
Prepaid expenses and other current assets	27.4	(63.7)
Intellectual property agreement accrual	(24.3)	(26)
Long-term prepaid royalties (Note 3)	6.2	(111.9)
Other	(10.3)	(14.8)
Net cash provided by operating activities	669.8	759.2
Cash flows from investing activities
Capital expenditures	(202.6)	(164.7)
Purchases of held-to-maturity investments (Note 6)	(36.3)	(23.5)
Proceeds from held-to-maturity investments (Note 6)	50.4	91.5
Purchases of available-for-sale investments (Note 6)	(518.8)	(8.4)
Proceeds from available-for-sale investments (Note 6)	539.1	486.9
Investments in intangible assets	(25.4)	(13.3)
Proceeds from sale of business	3,927.4	0
Business combination, net of cash	(763.6)	(141.2)
Payment for acquisition options (Note 7)	(16.2)	(15)
Issuances of notes receivable	(28)	(47.5)
Other	(36.4)	(5.1)
Net cash provided by investing activities	2,889.6	159.7
Cash flows from financing activities
Purchases of treasury stock	(1,059.3)	(431.2)
Equity forward contract related to accelerated share repurchase agreement (Note 12)	(100)	0
Proceeds from stock plans	150.9	136.7
Other	(3.2)	(3.3)
Net cash used in financing activities	(1,011.6)	(297.8)
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash	(12.4)	20.2
Net increase in cash, cash equivalents, and restricted cash	2,535.4	641.3
Cash, cash equivalents, and restricted cash at beginning of period	1,148	772.6
Cash, cash equivalents, and restricted cash at end of period (Note 2)	$ 3,683.4	$ 1,413.9

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Total Edwards Lifesciences Corporation Stockholders' Equity	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Common stock, beginning balance (in shares) at Dec. 31, 2022			646.3
Beginning balance at Dec. 31, 2022	$ 5,806.7	$ 5,806.7	$ 646.3	$ (4,144)	$ 1,969.3	$ 7,590	$ (254.9)	$ 0
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				38
Increase (Decrease) in Stockholders' Equity
Net income	340.5	340.5				340.5
Other comprehensive gain (loss), net of tax	(0.5)	(0.5)					(0.5)
Common stock issued under stock plans (in shares)			0.8
Common stock issued under stock plans	41.9	41.9	$ 0.8		41.1
Stock-based compensation expense	38.9	38.9			38.9
Purchases of treasury stock (in shares)				3.1
Purchases of treasury stock	(249.5)	(249.5)		$ (249.5)
Changes to noncontrolling interest	84							84
Common stock, ending balance (in shares) at Mar. 31, 2023			647.1
Ending balance at Mar. 31, 2023	6,062	5,978	$ 647.1	$ (4,393.5)	2,049.3	7,930.5	(255.4)	84
Treasury stock, ending balance (in shares) at Mar. 31, 2023				41.1
Common stock, beginning balance (in shares) at Dec. 31, 2022			646.3
Beginning balance at Dec. 31, 2022	5,806.7	5,806.7	$ 646.3	$ (4,144)	1,969.3	7,590	(254.9)	0
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				38
Increase (Decrease) in Stockholders' Equity
Net income	1,029.7
Common stock, ending balance (in shares) at Sep. 30, 2023			649.9
Ending balance at Sep. 30, 2023	6,727.1	6,657.5	$ 649.9	$ (4,576.1)	2,211.3	8,622.5	(250.1)	69.6
Treasury stock, ending balance (in shares) at Sep. 30, 2023				43.4
Common stock, beginning balance (in shares) at Mar. 31, 2023			647.1
Beginning balance at Mar. 31, 2023	6,062	5,978	$ 647.1	$ (4,393.5)	2,049.3	7,930.5	(255.4)	84
Treasury stock, beginning balance (in shares) at Mar. 31, 2023				41.1
Increase (Decrease) in Stockholders' Equity
Net income	305.5	307.1				307.1		(1.6)
Other comprehensive gain (loss), net of tax	(0.1)	(0.1)					(0.1)
Common stock issued under stock plans (in shares)			2
Common stock issued under stock plans	60.8	60.8	$ 2		58.8
Stock-based compensation expense	37.4	37.4			37.4
Purchases of treasury stock (in shares)				0.1
Purchases of treasury stock	(7.5)	(7.5)		$ (7.5)
Changes to noncontrolling interest	(11.6)							(11.6)
Common stock, ending balance (in shares) at Jun. 30, 2023			649.1
Ending balance at Jun. 30, 2023	6,446.5	6,375.7	$ 649.1	$ (4,401)	2,145.5	8,237.6	(255.5)	70.8
Treasury stock, ending balance (in shares) at Jun. 30, 2023				41.2
Increase (Decrease) in Stockholders' Equity
Net income	383.7	384.9				384.9		(1.2)
Other comprehensive gain (loss), net of tax	5.4	5.4					5.4
Common stock issued under stock plans (in shares)			0.8
Common stock issued under stock plans	34	34	$ 0.8		33.2
Stock-based compensation expense	32.6	32.6			32.6
Purchases of treasury stock (in shares)				2.2
Purchases of treasury stock	(175.1)	(175.1)		$ (175.1)
Common stock, ending balance (in shares) at Sep. 30, 2023			649.9
Ending balance at Sep. 30, 2023	$ 6,727.1	6,657.5	$ 649.9	$ (4,576.1)	2,211.3	8,622.5	(250.1)	69.6
Treasury stock, ending balance (in shares) at Sep. 30, 2023				43.4
Common stock, beginning balance (in shares) at Dec. 31, 2023	601.1		650.5
Beginning balance at Dec. 31, 2023	$ 6,719.4	6,650	$ 650.5	$ (5,024.5)	2,274.4	8,992.4	(242.8)	69.4
Treasury stock, beginning balance (in shares) at Dec. 31, 2023	49.4			49.4
Increase (Decrease) in Stockholders' Equity
Net income	$ 351	351.9				351.9		(0.9)
Other comprehensive gain (loss), net of tax	9.5	9.5					9.5
Common stock issued under stock plans (in shares)			1.3
Common stock issued under stock plans	62.1	62.1	$ 1.3		60.8
Stock-based compensation expense	44.6	44.6			44.6
Purchases of treasury stock	(0.2)	(0.2)		$ (0.2)
Common stock, ending balance (in shares) at Mar. 31, 2024			651.8
Ending balance at Mar. 31, 2024	$ 7,186.4	7,117.9	$ 651.8	$ (5,024.7)	2,379.8	9,344.3	(233.3)	68.5
Treasury stock, ending balance (in shares) at Mar. 31, 2024				49.4
Common stock, beginning balance (in shares) at Dec. 31, 2023	601.1		650.5
Beginning balance at Dec. 31, 2023	$ 6,719.4	6,650	$ 650.5	$ (5,024.5)	2,274.4	8,992.4	(242.8)	69.4
Treasury stock, beginning balance (in shares) at Dec. 31, 2023	49.4			49.4
Increase (Decrease) in Stockholders' Equity
Net income	$ 3,785.4
Common stock, ending balance (in shares) at Sep. 30, 2024	589.8		654.3
Ending balance at Sep. 30, 2024	$ 9,611.4	9,545.6	$ 654.3	$ (6,089.7)	2,452.1	12,781.4	(252.5)	65.8
Treasury stock, ending balance (in shares) at Sep. 30, 2024	64.5			64.5
Common stock, beginning balance (in shares) at Mar. 31, 2024			651.8
Beginning balance at Mar. 31, 2024	$ 7,186.4	7,117.9	$ 651.8	$ (5,024.7)	2,379.8	9,344.3	(233.3)	68.5
Treasury stock, beginning balance (in shares) at Mar. 31, 2024				49.4
Increase (Decrease) in Stockholders' Equity
Net income	365	366.3				366.3		(1.3)
Other comprehensive gain (loss), net of tax	13.1	13.1					13.1
Common stock issued under stock plans (in shares)			1.7
Common stock issued under stock plans	54.3	54.3	$ 1.7		52.6
Stock-based compensation expense	43.9	43.9			43.9
Purchases of treasury stock (in shares)				1.8
Purchases of treasury stock	(158.1)	(158.1)		$ (158.1)
Common stock, ending balance (in shares) at Jun. 30, 2024			653.5
Ending balance at Jun. 30, 2024	7,504.6	7,437.4	$ 653.5	$ (5,182.8)	2,476.3	9,710.6	(220.2)	67.2
Treasury stock, ending balance (in shares) at Jun. 30, 2024				51.2
Increase (Decrease) in Stockholders' Equity
Net income	3,069.4	3,070.8				3,070.8		(1.4)
Other comprehensive gain (loss), net of tax	(32.3)	(32.3)					(32.3)
Common stock issued under stock plans (in shares)			0.8
Common stock issued under stock plans	34.5	34.5	$ 0.8		33.7
Stock-based compensation expense	42.1	42.1			42.1
Purchases of treasury stock (in shares)				13.3
Purchases of treasury stock	$ (1,006.9)	(1,006.9)		$ (906.9)	(100)
Common stock, ending balance (in shares) at Sep. 30, 2024	589.8		654.3
Ending balance at Sep. 30, 2024	$ 9,611.4	$ 9,545.6	$ 654.3	$ (6,089.7)	$ 2,452.1	$ 12,781.4	$ (252.5)	$ 65.8
Treasury stock, ending balance (in shares) at Sep. 30, 2024	64.5			64.5

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying interim consolidated condensed financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the consolidated financial statements and notes included in Edwards Lifesciences' Annual Report on Form 10-K for the year ended December 31, 2023. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") have been condensed or omitted. The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries and variable interest entities for which the Company is the primary beneficiary. The Company attributes the net income or losses of its consolidated variable interest entities to controlling and noncontrolling interests using the hypothetical liquidation at book value method. All intercompany accounts and transactions have been eliminated in consolidation. On September 3, 2024, the Company sold its Critical Care product group ("Critical Care"). The historical results of Critical Care are reflected as discontinued operations in the Company's consolidated condensed financial statements for all periods presented. In addition, as a next step in the Company's disposal plan to exit businesses that are not focused on implantable medical innovations for structural heart disease, the historical results of a small non-core product group that the Company plans to sell are also included in discontinued operations. Unless otherwise indicated, the information in the notes to the consolidated condensed financial statements refer only to Edwards Lifesciences' continuing operations. For more information, see Note 5. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. In the opinion of management, the unaudited interim consolidated condensed financial statements reflect all adjustments necessary for a fair statement of the results for the interim periods presented. All such adjustments, unless otherwise noted herein, are of a normal, recurring nature. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. There have been no material changes to the Company's significant accounting policies from those described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. Recently Adopted Accounting Standards In March 2023, the Financial Accounting Standards Board ("FASB") issued an amendment to the accounting guidance on investments in tax credit structures to allow entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The guidance is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The Company adopted this guidance on January 1, 2024. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements. New Accounting Standards Not Yet Adopted In November 2024, the FASB issued an amendment to the accounting guidance on income statement presentation to require disclosure, in the notes to the financial statements, of disaggregated information about certain costs and expenses, including purchases of inventory, employee compensation, and depreciation and amortization included in each relevant expense caption within continuing operations. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact the guidance will have on its consolidated financial statements. In March 2024, the SEC issued final climate-related disclosure rules that will require disclosure of material climate-related risks and material direct greenhouse gas emissions from operations owned or controlled (Scope 1) and/or material indirect greenhouse gas emissions from purchased energy consumed in owned or controlled operations (Scope 2). Additionally, the rules require disclosure in the notes to the financial statements of the effects of severe weather events and other natural conditions, subject to certain materiality thresholds. The new rules will be effective for annual reporting periods beginning in fiscal year 2025, except for the greenhouse gas emissions disclosures which will be effective for annual reporting periods beginning in fiscal year 2026. Subsequent to issuance, the rules became the subject of litigation, and the SEC has issued a stay to allow the legal process to proceed. The Company is currently evaluating the disclosure impact the guidance will have on its consolidated financial statements. In December 2023, the FASB issued an amendment to the accounting guidance on income taxes which requires entities to provide additional information in the rate reconciliation and additional disaggregated disclosures about income taxes paid. This guidance requires public entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The guidance is effective for annual periods beginning after December 15, 2024. The Company does not expect the adoption of this guidance to impact its financial statements, but the guidance will impact its income tax disclosures. In November 2023, the FASB issued an amendment to the accounting guidance on segment reporting. The amendments require disclosure of significant segment expenses and other segment items and requires entities to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The amendment also requires disclosure of the title and position of the chief operating decision maker ("CODM") and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective application is required, and early adoption is permitted. The Company is currently evaluating the impact the guidance will have on its consolidated financial statements.

OTHER CONSOLIDATED FINANCIAL ST

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS	OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS Composition of Certain Financial Statement Captions (in millions) Components of selected captions in the consolidated condensed balance sheets consisted of the following: September 30, December 31, 2023 Inventories Raw materials $ 248.8 $ 196.3 Work in process 244.4 195.8 Finished products 611.0 511.4 $ 1,104.2 $ 903.5 At September 30, 2024 and December 31, 2023, $187.8 million and $164.6 million, respectively, of the Company's finished products inventories were held on consignment. September 30, December 31, 2023 Other assets Tax receivable (Note 16) $ 293.7 $ — Notes and other receivables 132.9 155.1 Acquisition options 117.5 161.3 Long-term prepaid royalties 103.7 109.9 Fair value of derivatives 21.8 23.4 Other long-term assets 13.9 13.5 $ 683.5 $ 463.2 Accrued and other liabilities Employee compensation and withholdings $ 312.1 $ 316.4 Taxes payable (Note 5) 715.1 52.7 Property, payroll, and other taxes 83.7 53.8 Research and development accruals 79.0 71.6 Accrued rebates 140.0 123.5 Fair value of derivatives 24.3 15.2 Accrued marketing expenses 14.5 13.7 Legal and insurance 29.5 28.9 Litigation settlement 75.1 69.1 Accrued relocation costs 16.2 16.9 Accrued professional services 62.2 8.5 Accrued realignment reserves 39.6 6.4 Unfavorable contract liability 66.0 — Other accrued liabilities 88.0 79.7 $ 1,745.3 $ 856.4 Supplemental Cash Flow Information (in millions) Nine Months Ended 2024 2023 Cash paid during the year for: Income taxes (a) (Note 16) $ 633.8 $ 219.1 Amounts included in the measurement of operating lease liabilities $ 21.0 $ 19.1 Non-cash investing and financing transactions: Right-of-use assets obtained in exchange for new lease liabilities $ 38.9 $ 19.9 Capital expenditures accruals $ 22.9 $ 32.5 ______________________________________ (a) Includes cash paid for income taxes from discontinued operations of $29.7 million and $22.7 million for the nine months ended September 30, 2024 and 2023, respectively. Cash, Cash Equivalents, and Restricted Cash (in millions) September 30, December 31, 2023 Continuing operations Cash and cash equivalents $ 3,676.4 $ 1,132.3 Restricted cash included in other current assets 3.2 3.3 Restricted cash included in other assets 0.9 0.7 Total $ 3,680.5 $ 1,136.3 Discontinued operations Cash and cash equivalents $ 2.9 $ 11.7 Total $ 2.9 $ 11.7 Total cash, cash equivalents, and restricted cash $ 3,683.4 $ 1,148.0 Amounts included in restricted cash primarily represent funds placed in escrow related to litigation.

INTELLECTUAL PROPERTY AGREEMENT

INTELLECTUAL PROPERTY AGREEMENT AND CERTAIN LITIGATION EXPENSES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
INTELLECTUAL PROPERTY AGREEMENT AND CERTAIN LITIGATION EXPENSES	INTELLECTUAL PROPERTY AGREEMENT AND CERTAIN LITIGATION EXPENSES On April 12, 2023, Edwards entered into an Intellectual Property Agreement (the "Intellectual Property Agreement") with Medtronic, Inc. ("Medtronic") pursuant to which the parties agreed to a 15-year global covenant not to sue ("CNS") for infringement of certain patents in the structural heart space owned or controlled by each other. In consideration for the global CNS and related mutual access to certain intellectual property rights, Edwards paid to Medtronic a one-time, lump sum payment of $300.0 million and is paying annual royalties tied to net sales of certain Edwards products. Based upon the terms of the Intellectual Property Agreement, the Company identified the relevant elements for accounting purposes and allocated the $300.0 million upfront payment based on their respective fair values. The Company recorded a $37.0 million pre-tax charge in Intellectual Property Agreement and Certain Litigation Expenses in March 2023 related primarily to prior commercial sales incurred through March 31, 2023. The Company recorded a prepaid royalty asset of $124.0 million in April 2023 related to future commercial sales, which will be amortized to expense during the term of the Intellectual Property Agreement. Separately, the Company recorded a $139.0 million pre-tax charge in Intellectual Property Agreement and Certain Litigation Expenses

RESTRUCTURING EXPENSES

RESTRUCTURING EXPENSES	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING EXPENSES	RESTRUCTURING EXPENSES In September 2024, the Company recorded an expense of $32.9 million related primarily to severance expenses associated with a global workforce realignment impacting approximately 360 employees. As of September 30, 2024, the Company's remaining severance obligations of $30.6 million are expected to be substantially paid within the next 12 months.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS On June 3, 2024, the Company entered into a definitive agreement to sell its Critical Care product group ("Critical Care") to Becton, Dickinson and Company ("BD"). In addition, as a next step in the Company's disposal plan to exit businesses that are not focused on implantable medical innovations for structural heart disease, the Company has committed to a plan to sell a non-core product group, with the sale expected to occur within the next 12 months. Critical Care and the aforementioned non-core product group (collectively, the "discontinued product groups") were historically reported in each of the Company's segments (United States, Europe, Japan, and Rest of World). The Company concluded that the Critical Care product group met the criteria to be classified as held-for-sale in June 2024 and that the non-core product group met the criteria to be classified as held-for-sale in September 2024. The Company determined that, when considered together, the conditions for discontinued operations presentation had been met with respect to the discontinued product groups. A component of an entity is reported in discontinued operations after meeting the criteria for held-for-sale classification if the disposition represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results. The Company analyzed the quantitative and qualitative factors relevant to the discontinued product groups, including their significance to the Company’s overall net income and total assets, and determined that those conditions for discontinued operations presentation had been met. As such, the historical financial condition and results of the discontinued product groups have been reflected as discontinued operations in the Company's consolidated condensed financial statements. The assets and liabilities associated with discontinued product groups are classified as assets and liabilities of discontinued operations in the Company's consolidated condensed balance sheets. Prior period amounts have been adjusted to reflect the discontinued operations presentation. On September 3, 2024, Critical Care was sold for $4.2 billion, which is subject to a further working capital adjustment, resulting in a gain of $3.3 billion which was included in Income from Discontinued Operations, net of tax . In connection with the sale of Critical Care, the Company entered into a Transition Services Agreement ("TSA") to provide certain support services for up to 36 months from the closing date of the sale (with certain extension rights as provided therein). These support services may be in the areas of accounting, information technology, human resources, quality assurance, regulatory affairs, customer support, and global supply chain, among others. In connection with the TSA, the Company recognized an unfavorable contract liability of $115.1 million, which will be recognized over the TSA term. In addition, Edwards and BD entered into other agreements to provide a framework for the ongoing activities between the Company and BD after the sale and until the end of the TSA including, but not limited to, interim operating model agreements to support the commercial operations until full transfer of all regulatory licenses to BD and completion of services under the TSA agreement, a manufacturing and supply agreement, and a quality agreement. Under these agreements, the Company will continue to provide certain services to BD during the term of these agreements including serving as an undisclosed selling and purchasing agent for the Critical Care business on behalf of BD for a period of up to 36 months. As of September 30, 2024, the Company had a receivable of approximately $24.6 million from BD related to the services under the agreements. The Company recorded income from the TSA of $7.6 million during the three and nine months ended September 30, 2024, which is recorded in Other Operating Expenses, net on the Company's consolidated condensed statements of operations. Details of Income from Discontinued Operations are as follows (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales $ 177.2 $ 237.5 $ 708.4 $ 727.1 Cost of sales 65.4 99.8 265.1 295.5 Gross profit 111.8 137.7 443.3 431.6 Selling, general, and administrative expenses 40.9 57.7 163.2 178.7 Research and development expenses 21.4 27.5 81.3 81.0 Separation costs 81.5 — 202.5 — Operating (loss) income, net (32.0) 52.5 (3.7) 171.9 Other non-operating (income) expense, net (3,338.9) 0.8 (3,337.5) 0.7 Income from discontinued operations before provision for income taxes 3,306.9 51.7 3,333.8 171.2 Provision for income taxes from discontinued operations 599.6 2.9 599.4 28.4 Net income from discontinued operations 2,707.3 48.8 2,734.4 142.8 Separation costs related primarily to consulting, legal, tax, and other professional advisory services associated with the sale of Critical Care. Details of assets and liabilities of discontinued operations are as follows (in millions): September 30, December 31, Cash and cash equivalents $ 2.9 $ 11.7 Accounts receivable, net of allowances — 3.6 Other receivables — 5.2 Inventories 17.1 264.7 Prepaid expenses — 18.0 Other current assets — 14.4 Total current assets of discontinued operations $ 20.0 $ 317.6 Property, plant, and equipment, net 3.1 158.4 Operating lease right-of-use assets — 9.6 Goodwill 7.4 108.4 Other intangible assets, net — 29.0 Deferred income taxes — 5.2 Other assets — 0.5 Total non-current assets of discontinued operations $ 10.5 $ 311.1 Accounts payable $ — $ 14.8 Accrued and other liabilities 1.8 112.7 Operating lease liabilities — 2.0 Total current liabilities of discontinued operations $ 1.8 $ 129.5 Operating lease liabilities — 7.8 Uncertain tax positions — 4.3 Other liabilities — 13.0 Total non-current liabilities of discontinued operations $ — $ 25.1 Cash flows attributable to the Company's discontinued operations are included in the Company's consolidated condensed statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in millions): Nine Months Ended 2024 2023 Depreciation and amortization 12.1 16.2 Stock-based compensation 16.7 11.6 Inventory write off 17.0 13.2 Capital expenditures 16.4 21.0

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Debt Securities Investments in debt securities at the end of each period were as follows (in millions): September 30, 2024 December 31, 2023 Held-to-maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Bank time deposits $ 50.5 $ — $ — $ 50.5 $ 64.5 $ — $ — $ 64.5 Available-for-sale Bank time deposits $ 17.6 $ — $ — $ 17.6 $ — $ — $ — $ — Commercial paper 112.9 — — 112.9 — — — — U.S. government and agency securities 185.2 0.1 (1.2) 184.1 72.7 0.1 (2.8) 70.0 Asset-backed securities 80.2 — (1.6) 78.6 192.1 — (7.8) 184.3 Corporate debt securities 502.2 0.1 (4.0) 498.3 658.5 — (16.7) 641.8 Municipal securities 2.8 — (0.1) 2.7 2.8 — (0.2) 2.6 Total $ 900.9 $ 0.2 $ (6.9) $ 894.2 $ 926.1 $ 0.1 $ (27.5) $ 898.7 The cost and fair value of investments in debt securities, by contractual maturity, as of September 30, 2024, were as follows: Held-to-Maturity Available-for-Sale Amortized Cost Fair Value Amortized Cost Fair Value (in millions) Due in 1 year or less $ 50.5 $ 50.5 $ 721.1 $ 719.2 Due after 1 year through 5 years — — 81.4 79.2 Instruments not due at a single maturity date (a) — — 98.4 95.8 $ 50.5 $ 50.5 $ 900.9 $ 894.2 _______________________________________ (a) Consists of mortgage-backed and asset-backed securities. Actual maturities may differ from the contractual maturities due to call or prepayment rights. The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions): September 30, 2024 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government and agency securities $ — $ — $ 34.0 $ (1.2) $ 34.0 $ (1.2) Asset-backed securities 3.6 (0.1) 65.3 (1.5) 68.9 (1.6) Corporate debt securities — — 193.0 (4.0) 193.0 (4.0) Municipal securities — — 2.7 (0.1) 2.7 (0.1) $ 3.6 $ (0.1) $ 295.0 $ (6.8) $ 298.6 $ (6.9) December 31, 2023 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government and agency securities $ — $ — $ 67.1 $ (2.8) $ 67.1 $ (2.8) Asset-backed securities 10.2 (1.8) 172.7 (6.0) 182.9 (7.8) Corporate debt securities 25.0 (0.1) 601.3 (16.6) 626.3 (16.7) Municipal securities — — 2.6 (0.2) 2.6 (0.2) $ 35.2 $ (1.9) $ 843.7 $ (25.6) $ 878.9 $ (27.5) The Company reviews its investments in debt securities to determine if there has been an other-than-temporary decline in fair value. Consideration is given to 1) the financial condition and near-term prospects of the issuer, including the credit quality of the security's issuer, 2) the Company's intent to sell the security, and 3) whether it is more likely than not the Company will have to sell the security before recovery of its amortized cost. The unrealized losses on the debt securities were largely due to changes in interest rates, not credit quality, and as of September 30, 2024, the Company did not intend to sell the securities, and it was not more likely than not that it will be required to sell the securities before recovery of the unrealized losses, and, therefore, the unrealized losses are considered temporary. Investments in Unconsolidated Entities The Company has a number of equity investments in unconsolidated entities. These investments are recorded in Long-term Investments on the consolidated condensed balance sheets, and are as follows: September 30, December 31, (in millions) Equity method investments Carrying value of equity method investments $ 32.3 $ 33.6 Equity securities Carrying value of marketable equity securities 7.4 — Carrying value of non-marketable equity securities 104.9 87.6 Total investments in unconsolidated entities $ 144.6 $ 121.2 The Company makes equity investments in limited liability companies that invest in qualified community development entities ("CDEs") through the New Markets Tax Credit ("NMTC") program. The NMTC program provides federal tax incentives to investors to make investments in distressed communities and promotes economic improvements through the development of successful businesses in these communities. The NMTC is equal to 39% of the qualified investment and is taken over seven years. These limited liability companies are variable interest entities ("VIEs"). The Company determined that it is not the primary beneficiary of the VIEs because it does not have the power to direct the activities that most significantly impact the economic performance of the VIEs and, therefore, the Company does not consolidate these entities. Instead, the NMTC investments are accounted for as equity method investments. Marketable equity securities consist of investments with readily determinable fair values over which we do not own a controlling interest or exercise significant influence. Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values, and are reported at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. The Company recorded an upward adjustment of $0.5 million and a downward adjustment of $2.4 million during the nine months ended September 30, 2024 based on observable price changes. As of September 30, 2024, the Company had recorded cumulative upward adjustments of $9.3 million based on observable price changes, and cumulative downward adjustments of $5.5 million due to impairments and observable price changes.

INVESTMENTS IN VARIABLE INTERES

INVESTMENTS IN VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2024
Variable Interest Entities [Abstract]
INVESTMENTS IN VARIABLE INTEREST ENTITIES	INVESTMENTS IN VARIABLE INTEREST ENTITIES The Company reviews its investments in other entities to determine whether the Company is the primary beneficiary of a VIE. The Company would be the primary beneficiary of the VIE, and would be required to consolidate the VIE, if it has the power to direct the significant activities of the entity and the obligation to absorb losses or receive benefits from the entity that may be significant to the VIE. The Company's maximum loss exposure to variable interest entities, prior to the exercise of options to acquire the entities, is limited to its investment in the variable interest entities, which include equity investments, options to acquire, and promissory notes. Consolidated VIEs In February 2023, the Company acquired a majority equity interest in a medical technology company pursuant to a preferred stock purchase agreement, and amended and restated a previous option agreement to acquire the remaining equity interest. Edwards concluded that it is the primary beneficiary and consolidated the VIE. The total assets and liabilities of the Company's consolidated VIE was $258.1 million and $26.7 million, respectively, as of September 30, 2024, and were $272.1 million and $31.5 million, respectively, as of December 31, 2023. The assets of the VIE can only be used to settle obligations of the VIE and general creditors have no recourse to the Company. Unconsolidated VIEs Edwards has relationships with various VIEs that it does not consolidate as Edwards lacks the power to direct the activities that significantly impact the economic success of these entities. In June 2022, the Company entered into a convertible promissory note and amended its existing warrant agreement with a medical device company. Under the convertible promissory note agreement, the Company agreed to loan the medical device company up to $47.5 million, of which $42.5 million had been advanced as of September 30, 2024. The remaining $5.0 million was advanced in October 2024. In addition, in 2019, the Company paid $35.0 million for an option to acquire the medical device company. The option and the note receivable are included in Other Assets on the consolidated balance sheets. In April 2021, the Company entered into a promissory note agreement, a preferred stock purchase agreement, and an option agreement with a privately-held medical device company (the "Investee"). The secured promissory note provides for borrowings up to $45.0 million. At both September 30, 2024 and December 31, 2023, the Company had advanced $30.0 million under the promissory note (included in Other Assets ). As of September 30, 2024 and December 31, 2023, the Company had invested $42.8 million and $39.3 million, respectively, in the Investee's preferred equity securities (included in Long-term Investments ) and had paid $20.9 million and $13.1 million, respectively, for an option to acquire the Investee (included in Other Assets ). Pursuant to the agreements, the Company may be required to invest up to an additional $3.0 million in the Investee's preferred equity securities and up to an additional $6.6 million for the option to acquire the Investee. In March 2023, the Company agreed to pay a medical device company up to $45.0 million as consideration for an option to acquire that medical device company, of which $30.0 million had been paid as of September 30, 2024. Also, in March 2023, Edwards advanced $5.0 million to the medical device company under a convertible promissory note. In addition, as of September 30, 2024 and December 31, 2023, the Company had invested $3.5 million and $3.3 million, respectively, in the medical device company's preferred equity securities. The option and the note are included in Other Assets on the consolidated balance sheets, and the equity investment is included in Long-term Investments . In July 2024, the Company exercised its option to acquire the medical device company and the transaction closed in October 2024. For more information, see Note 18. In addition, Edwards has made equity investments through the NMTC program in limited liability companies that are considered VIEs. For more information, see Note 6.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Endotronix, Inc. On August 19, 2024, the Company acquired all the remaining outstanding shares of Endotronix, Inc. ("Endotronix"). Endotronix is a developer of an implantable sensor for management of heart failure patients. The acquisition was completed primarily to expand the Company's structural heart portfolio into a new therapeutic area to address the large unmet needs of patients suffering from heart failure. Prior to the acquisition date, the Company had previously paid $60.0 million for an option to acquire Endotronix, which was historically recorded in Other Assets using the measurement alternative for fair value, and had an existing preferred stock investment in Endotronix of $10.0 million, which represented an ownership interest in Endotronix of approximately 7% (collectively, the "previously held equity interest"). In July 2024, the Company exercised its option to acquire the remaining equity interest in Endotronix which was accounted for as a step acquisition in accordance with Accounting Standards Codification Topic 805, "Business Combinations." Accordingly, the Company allocated the purchase price of the acquired company to the net tangible assets and intangible assets acquired based upon their preliminary estimated fair values. The Company remeasured the previously held equity interest to its fair value, as of the date of acquisition. The Company considered multiple factors in determining the fair value of the previously held equity interest, including, (i) the price negotiated with the selling shareholders for the remaining 93% interest in Endotronix and (ii) an income approach valuation model. As a result of the remeasurement of the previously held equity interest, the Company recognized a gain of $24.6 million in Other income, net in the third quarter of 2024. The purchase consideration for the acquisition of Endotronix was $798.8 million, which consisted of cash consideration of $649.1 million (net of cash acquired of $1.2 million), the fair value of the Company's previously held equity interest of $94.6 million, and the settlement of pre-existing relationships of $53.1 million. In addition, the Company agreed to pay an additional $2.0 million in a pre-specified milestone-driven payment that is dependent on the receipt of CE Mark approval for the CorPASS before June 30, 2025. The Company recognized a $2.0 million contingent consideration liability for the estimated fair value of the contingent milestone payments. The fair value of the contingent milestone payment will be remeasured each quarter, with changes in the fair value recognized within operating expenses on the consolidated statements of operations. In connection with the acquisition of Endotronix, the Company placed $35.0 million of the cash consideration paid at closing into escrow to satisfy any claims for indemnification made in accordance with the merger agreement and for purchase price adjustments. Acquisition-related costs of $5.6 million were recorded in Selling, General, and Administrative Expenses during the nine months ended September 30, 2024. The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions): Cash consideration paid at closing $ 650.3 Settlement of pre-existing relationships 53.1 Fair value of previously held equity interest 94.6 Fair value of contingent consideration 2.0 Total purchase price 800.0 Less: cash acquired (1.2) Total purchase price, net of cash acquired $ 798.8 Current assets $ 7.7 Property and equipment, net 12.6 Goodwill 412.0 In-process research and development 69.0 Developed technology 385.0 Operating lease right-of-use assets 9.9 Other assets 0.7 Liabilities assumed (26.3) Deferred tax liabilities (70.6) Net assets acquired 800.0 Less: cash acquired (1.2) Total purchase price, net of cash acquired $ 798.8 The above purchase price allocation is preliminary and subject to revision for a one-year measurement period following the date of acquisition as additional information about the fair value of individual assets and liabilities becomes available. The preliminary measurement of intangible assets, goodwill, and deferred income taxes are subject to change. A change in the estimated fair value of the net assets acquired will change the amount of the purchase price allocable to goodwill. Goodwill includes Endotronix's assembled workforce and expected synergies the Company believes will result from the acquisition. Goodwill was assigned to the Company’s United States segment and is not deductible for tax purposes. The fair value of the developed technology was determined using the income approach. This approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return. The discount rate used to determine the fair value of the developed technology was 15.5%. The fair value of the IPR&D was also determined using the income approach. IPR&D has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods. The discount rate used to determine the fair value of the IPR&D was 18.0%. Completion of successful design developments, bench testing, pre-clinical studies and human clinical studies are required prior to selling any product. The risks and uncertainties associated with completing development within a reasonable period of time include those related to the design, development, and manufacturability of the product, the success of pre-clinical and clinical studies, and the timing of regulatory approvals. The valuation assumed $47.1 million of additional research and development expenditures would be incurred prior to the date of product introduction. In the valuation, net cash inflows were modeled to commence in the United States in 2027 and in Japan and Europe in 2028. Upon completion of development, the underlying research and development asset will be amortized over its estimated useful life. The results of operations for Endotronix have been included in the accompanying consolidated financial statements from the date of acquisition. Pro forma results have not been presented as the results of Endotronix are not material in relation to the consolidated financial statements of Edwards Lifesciences. JC Medical, Inc. On July 22, 2024, the Company acquired all the outstanding shares of JC Medical, Inc. ("JC Medical") for purchase consideration of $116.3 million, net of cash acquired. In addition, the Company agreed to pay up to an additional $200.0 million in pre-specified milestone-driven payments over the next 12 years. The Company recognized a $1.8 million contingent consideration liability for the estimated fair value of the contingent milestone payments. The fair value of the contingent milestone payments will be remeasured each quarter, with changes in the fair value recognized within operating expenses on the consolidated statements of operations. The Company placed $12.0 million of the cash consideration paid at closing into escrow to satisfy any claims for indemnification made in accordance with the merger agreement. Any funds remaining 15 months after the acquisition date will be disbursed to JC Medical's former shareholders. Acquisition-related costs of $1.6 million were recorded in Selling, General, and Administrative Expenses during the nine months ended September 30, 2024. JC Medical, Inc. is a structural heart company that is primarily engaged in the design and development of transcatheter valve replacement products for the minimally invasive treatment of structural heart disease. The acquisition was completed primarily to expand the Company's TAVR portfolio to enable the treatment of patients with aortic regurgitation. The acquisition was accounted for as a business combination. Tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date. The excess of the purchase price over the fair value of net assets acquired was recorded to goodwill. The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions): Cash consideration paid at closing $ 114.8 Fair value of contingent consideration 1.8 Total purchase price 116.6 Less: cash acquired (0.3) Total purchase price, net of cash acquired $ 116.3 Current assets $ 0.3 Property and equipment, net 0.3 Goodwill 46.9 In-process research and development 86.6 Current liabilities assumed (1.0) Deferred tax liabilities (16.5) Net assets acquired 116.6 Less: cash acquired (0.3) Total purchase price, net of cash acquired $ 116.3 The above purchase price allocation is preliminary and subject to revision for a one-year measurement period following the date of acquisition as additional information about the fair value of individual assets and liabilities becomes available. The preliminary measurement of intangible assets, goodwill, and deferred income taxes are subject to change. A change in the estimated fair value of the net assets acquired will change the amount of the purchase price allocable to goodwill. Goodwill includes JC Medical's assembled workforce and expected synergies the Company believes will result from the acquisition. Goodwill was assigned to the Company’s United States segment and is not deductible for tax purposes. IPR&D has been capitalized at fair value as an intangible asset with an indefinite life and will be assessed for impairment in subsequent periods. The fair value of the IPR&D was determined using the income approach. This approach determines fair value based on cash flow projections which are discounted to present value using a risk-adjusted rate of return. The discount rate used to determine the fair value of the IPR&D was 15.0%. Completion of successful design developments, bench testing, pre-clinical studies and human clinical studies are required prior to selling any product. The risks and uncertainties associated with completing development within a reasonable period of time include those related to the design, development, and manufacturability of the product, the success of pre-clinical and clinical studies, and the timing of regulatory approvals. The valuation assumed $55.8 million of additional research and development expenditures would be incurred prior to the date of product introduction. In the valuation, net cash inflows were modeled to commence in the United States in 2028 and Europe in 2029. Upon completion of development, the underlying research and development asset will be amortized over its estimated useful life. The results of operations for JC Medical have been included in the accompanying consolidated financial statements from the date of acquisition. Pro forma results have not been presented as the results of JC Medical are not material in relation to the consolidated financial statements of Edwards Lifesciences.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company prioritizes the inputs used to determine fair values in one of the following three categories: Level 1—Quoted market prices in active markets for identical assets or liabilities. Level 2—Inputs, other than quoted prices in active markets, that are observable, either directly or indirectly. Level 3—Unobservable inputs that are not corroborated by market data. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The consolidated condensed financial statements include financial instruments for which the fair market value of such instruments may differ from amounts reflected on a historical cost basis. Financial instruments of the Company consist of cash deposits, accounts and other receivables, investments, accounts payable, certain accrued liabilities, and borrowings under a revolving credit agreement. The carrying value of these financial instruments generally approximates fair value due to their short-term nature. Financial instruments also include notes payable. As of September 30, 2024, the fair value of the notes payable, based on Level 2 inputs, was $600.0 million. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions): September 30, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 2,287.8 $ 852.3 $ — $ 3,140.1 Available-for-sale investments: Bank time deposits — 17.6 — 17.6 Corporate debt securities — 498.3 — 498.3 Asset-backed securities — 78.6 — 78.6 United States government and agency securities 49.3 134.8 — 184.1 Commercial paper — 112.9 — 112.9 Municipal securities — 2.7 — 2.7 Equity investments in unconsolidated entities 7.5 — — 7.5 Investments held for deferred compensation plans 143.9 — — 143.9 Derivatives — 27.6 — 27.6 $ 2,488.5 $ 1,724.8 $ — $ 4,213.3 Liabilities Derivatives $ — $ 24.3 $ — $ 24.3 Contingent consideration liabilities — — 3.8 3.8 Other — — 5.0 5.0 $ — $ 24.3 $ 8.8 $ 33.1 December 31, 2023 Assets Cash equivalents $ 579.2 $ — $ — $ 579.2 Available-for-sale investments: Corporate debt securities — 641.8 — 641.8 Asset-backed securities — 184.3 — 184.3 United States government and agency securities — 70.0 — 70.0 Municipal securities — 2.6 — 2.6 Investments held for deferred compensation plans 125.8 — — 125.8 Derivatives — 39.5 — 39.5 $ 705.0 $ 938.2 $ — $ 1,643.2 Liabilities Derivatives $ — $ 15.2 $ — $ 15.2 Other — — 10.3 10.3 $ — $ 15.2 $ 10.3 $ 25.5 Cash Equivalents and Available-for-sale Investments Cash equivalents included money market funds for the periods presented above. The Company estimates the fair values of its money market funds based on quoted prices in active markets for identical assets. The Company estimates the fair values of its corporate debt securities, asset-backed securities, commercial paper, United States and foreign government and agency securities, and municipal securities by taking into consideration valuations obtained from third-party pricing services. The pricing services use industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades and broker-dealer quotes on the same or similar securities, benchmark yields, credit spreads, prepayment and default projections based on historical data, and other observable inputs. The Company independently reviews and validates the pricing received from the third-party pricing service by comparing the prices to prices reported by a secondary pricing source. The Company’s validation procedures have not resulted in an adjustment to the pricing received from the pricing service. Deferred Compensation Plans The Company holds investments related to its deferred compensation plans. The investments are in a variety of stock, bond and money market mutual funds. The fair values of these investments are based on quoted market prices. Derivative Instruments The Company uses derivative financial instruments in the form of foreign currency forward exchange contracts and cross-currency swap contracts to manage foreign currency exposures. All derivative instruments are recognized on the balance sheet at their fair value, which was measured using quoted foreign exchange rates, interest rates, yield curves, and cross-currency swap basis rates. The estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. Contingent Consideration Liabilities Certain of the Company's acquisitions involve contingent consideration arrangements. Payment of additional consideration is contingent upon the acquired company reaching certain performance milestones, such as attaining specified sales levels or obtaining regulatory approvals. These contingent consideration liabilities are measured at estimated fair value using either a probability weighted discounted cash flow analysis or a Monte Carlo simulation model, both of which consider significant unobservable inputs. These inputs include (1) the discount rate used to present value the projected cash flows (ranging from 0.0% to 11.7%; with a weighted average of 5.6%), (2) the probability of milestone achievement (ranging from 60% to 100%; with a weighted average of 80.9%), (3) the projected payment dates (ranging from 2025 to 2032; with a weighted average of 2029), and (4) the volatility of future revenue (27%). The weighted average of each of the above inputs was determined based on the relative fair value of each obligation. The use of different assumptions could have a material effect on the estimated fair value amounts. The following tables summarize the changes in fair value of Level 3 financial instruments measured at fair value on a recurring basis (in millions): Contingent Consideration Other Total Balance at December 31, 2023 $ — $ 10.3 $ 10.3 Additions 3.8 — 3.8 Payments — — — Changes in fair value — (5.3) (5.3) Balance at September 30, 2024 $ 3.8 $ 5.0 $ 8.8 Contingent Consideration Other Total Balance at December 31, 2022 $ 26.2 $ 14.0 $ 40.2 Changes in fair value (26.2) (3.7) (29.9) Balance at September 30, 2023 $ — $ 10.3 $ 10.3

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company uses derivative financial instruments to manage its currency exchange rate risk and its interest rate risk as summarized below. Notional amounts are stated in United States dollar equivalents at spot exchange rates at the respective dates. The Company does not enter into these arrangements for trading or speculation purposes. Notional Amount September 30, December 31, 2023 (in millions) Foreign currency forward exchange contracts $ 2,219.8 $ 1,460.3 Cross-currency swap contracts 300.0 300.0 Derivative financial instruments involve credit risk in the event the counterparty should default. It is the Company's policy to execute such instruments with global financial institutions that the Company believes to be creditworthy. The Company diversifies its derivative financial instruments among counterparties to minimize exposure to any one of these entities. The Company also uses International Swap Dealers Association master-netting agreements. The master-netting agreements provide for the net settlement of all contracts through a single payment in a single currency in the event of default, as defined by the agreements. The Company uses foreign currency forward exchange contracts and cross-currency swap contracts to manage its exposure to changes in currency exchange rates from (a) future cash flows associated with intercompany transactions and certain local currency expenses expected to occur within approximately one year (designated as cash flow hedges), (b) its net investment in certain foreign subsidiaries (designated as net investment hedges) and (c) foreign currency denominated assets or liabilities (designated as fair value hedges). The Company also uses foreign currency forward exchange contracts that are not designated as hedging instruments to offset the transaction gains and losses associated with revaluation of certain assets and liabilities denominated in currencies other than their functional currencies (resulting principally from intercompany and local currency transactions). All derivative financial instruments are recognized at fair value in the consolidated condensed balance sheets. For each derivative instrument that is designated as a fair value hedge, the gain or loss on the derivative included in the assessment of hedge effectiveness is recognized immediately to earnings and offsets the loss or gain on the underlying hedged item. The Company reports in Accumulated Other Comprehensive Loss the gain or loss on derivative financial instruments that are designated, and that qualify, as cash flow hedges. The Company reclassifies these gains and losses into earnings in the same line item and in the same period in which the underlying hedged transactions affect earnings. Changes in the fair value of net investment hedges are reported in Accumulated Other Comprehensive Loss as a part of the cumulative translation adjustment and would be reclassified into earnings if the underlying net investment is sold or substantially liquidated. The portion of the change in fair value related to components excluded from the hedge effectiveness assessment are amortized into earnings over the life of the derivative. The gains and losses on derivative financial instruments for which the Company does not elect hedge accounting treatment are recognized in the consolidated statements of operations in each period based upon the change in the fair value of the derivative financial instrument. Cash flows from net investment hedges are reported as investing activities in the consolidated statements of cash flows, and cash flows from all other derivative financial instruments are reported as operating activities. The following table presents the location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets (in millions): Fair Value Derivatives designated as hedging instruments Balance Sheet September 30, December 31, 2023 Assets Foreign currency contracts Other current assets $ 5.8 $ 16.1 Cross-currency swap contracts Other assets $ 21.8 $ 23.4 Liabilities Foreign currency contracts Accrued and other liabilities $ 21.2 $ 15.2 Derivatives not designated as hedging instruments Liabilities Foreign currency contracts Accrued and other liabilities $ 3.1 $ — The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions): Gross Amounts Gross Amounts Net Amounts September 30, 2024 Gross Financial Cash Net Derivative assets Foreign currency contracts $ 5.8 $ — $ 5.8 $ (3.8) $ — $ 2.0 Cross-currency swap contracts $ 21.8 $ — $ 21.8 $ — $ — $ 21.8 Derivative liabilities Foreign currency contracts $ 24.3 $ — $ 24.3 $ (3.8) $ — $ 20.5 December 31, 2023 Derivative assets Foreign currency contracts $ 16.1 $ — $ 16.1 $ (9.4) $ — $ 6.7 Cross-currency swap contracts $ 23.4 $ — $ 23.4 $ — $ — $ 23.4 Derivative liabilities Foreign currency contracts $ 15.2 $ — $ 15.2 $ (9.4) $ — $ 5.8 The following tables present the effect of derivative and non-derivative hedging instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income (in millions): Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cash flow hedges Foreign currency contracts $ (40.9) $ 33.5 $ 17.0 $ 60.4 Net investment hedges Cross-currency swap contracts $ (8.7) $ 3.8 $ (1.6) $ (5.2) The cross-currency swap contracts have an expiration date of June 15, 2028. At the maturity of the cross-currency swap contracts, the Company will deliver the notional amount of €257.2 million and will receive $300.0 million from the counterparties. The Company receives semi-annual interest payments from the counterparties based on a fixed interest rate until maturity of the agreements. The following tables present the effect of derivative instruments on the consolidated condensed statements of operations (in millions): Location and Amount of Gain or (Loss) Recognized in Income Three Months Ended Nine Months Ended Cost of sales Interest income, net Other non-operating income, net Cost of sales Interest income, net Other non-operating income, net Total amounts presented in the consolidated condensed statements of operations $ (262.9) $ 24.3 $ 27.9 $ (825.3) $ 56.3 $ 35.6 The effects of fair value hedges: Foreign currency contracts: Hedged items $ — $ — $ — $ — $ — $ (4.0) Derivatives designated as hedging instruments $ — $ — $ — $ — $ — $ 4.0 Amount excluded from effectiveness testing (amortized) $ — $ — $ — $ — $ — $ 0.8 The effects of cash flow hedges: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income $ 17.0 $ — $ — $ 31.9 $ — $ — The effects of net investment hedges: Cross currency swap contracts: Amount excluded from effectiveness testing $ — $ 1.6 $ — $ — $ 5.1 $ — The effects of non-designated hedges: Foreign currency contracts $ — $ — $ (29.6) $ — $ — $ 3.7 Location and Amount of Gain or (Loss) Recognized in Income Three Months Ended Nine Months Ended Cost of sales Interest income, net Other non-operating income, net Cost of sales Interest income, net Other non-operating income, net Total amounts presented in the consolidated condensed statements of operations $ (250.6) $ 15.1 $ 6.6 $ (727.4) $ 32.8 $ 10.3 The effects of fair value hedges: Foreign currency contracts: Hedged items $ — $ — $ (3.6) $ — $ — $ (12.5) Derivatives designated as hedging instruments $ — $ — $ 3.6 $ — $ — $ 12.5 Amount excluded from effectiveness testing (amortized) $ — $ — $ 1.2 $ — $ — $ 3.6 The effects of cash flow hedges: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income $ 9.3 $ — $ — $ 53.0 $ — $ — The effects of net investment hedges: Cross currency swap contracts: Amount excluded from effectiveness testing $ — $ 1.7 $ — $ — $ 5.2 $ — The effects of non-designated hedges: Foreign currency contracts $ — $ — $ 14.6 $ — $ — $ 19.1 The Company expects that during the next twelve months it will reclassify to earnings a $4.1 million gain currently recorded in Accumulated Other Comprehensive Loss .

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three and nine months ended September 30, 2024 and 2023 was as follows (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cost of sales $ 6.1 $ 4.7 $ 20.8 $ 16.3 Selling, general, and administrative expenses 20.4 17.2 62.4 57.3 Research and development expenses 8.7 7.2 28.3 23.7 Total stock-based compensation expense 35.2 29.1 111.5 97.3 Income tax benefit (6.0) (4.7) (17.5) (14.5) Total stock-based compensation expense, net of tax $ 29.2 $ 24.4 $ 94.0 $ 82.8 At September 30, 2024, the total remaining compensation cost related to nonvested stock options, restricted stock units, market-based restricted stock units, and employee stock purchase plan ("ESPP") subscription awards amounted to $289.7 million, which will be amortized on a straight-line basis over each award's requisite service period. The weighted-average remaining requisite service period is 33 months. On May 7, 2024, the Company’s stockholders approved the amendment and restatement of the Company’s Long-term Stock Incentive Compensation Program (the “Long-term Stock Program”) to (1) increase the total number of shares of the Company’s common stock available for issuance under the Long-term Stock Program by 6.9 million shares to a new total share limit of 334.5 million shares, (2) increase the total number of shares of the Company’s common stock available for issuance as restricted stock and restricted stock unit awards under the Long-term Stock Program by 2.0 million shares to a new limit on the total number of shares available for these types of awards of 35.6 million shares, and (3) extend the term within which new awards may be granted under the Long-term Stock Program through February 21, 2034. During the nine months ended September 30, 2024, the Company granted 1.5 million stock options at a weighted-average exercise price per share of $85.94, and 1.9 million restricted stock units at a weighted-average grant-date fair value per share of $85.09. During the nine months ended September 30, 2024, the Company also granted 0.1 million market-based restricted stock units at a weighted-average grant-date fair value per share of $97.66. The market-based restricted stock units granted during the nine months ended September 30, 2024 vest based on a combination of certain service and market conditions. The actual number of shares issued will be determined based on the Company's total shareholder return relative to a selected industry peer group over a three-year performance period and may range from 0% to 175% of the target number of shares granted. Fair Value Disclosures The fair value of market-based restricted stock units was determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The weighted-average assumptions used to determine the fair value of the market-based restricted stock units granted during the nine months ended September 30, 2024 and 2023 included a risk-free interest rate of 4.5% and 3.6%, respectively, and an expected volatility rate of 32.4% and 32.6%, respectively. The following table includes the weighted-average grant-date fair values of stock options granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: Option Awards Three Months Ended Nine Months Ended 2024 2023 2024 2023 Risk-free interest rate 4.2 % 4.3 % 4.5% 3.4% Expected dividend yield None None None None Expected volatility 31.0 % 32.7 % 30.9% 32.8% Expected term (years) 5.5 5.2 5.3 5.1 Fair value, per option $ 32.15 $ 31.16 $ 31.30 $ 31.02 The following table includes the weighted-average grant-date fair values for ESPP subscriptions granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: ESPP Three Months Ended Nine Months Ended 2024 2023 2024 2023 Risk-free interest rate 5.3 % 5.3 % 5.2% 4.6% Expected dividend yield None None None None Expected volatility 29.5 % 34.8 % 33.5% 31.5% Expected term (years) 0.6 0.6 0.6 0.6 Fair value, per share $ 16.51 $ 18.53 $ 25.01 $ 19.03

ACCELERATED SHARE REPURCHASE

ACCELERATED SHARE REPURCHASE	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
ACCELERATED SHARE REPURCHASE	ACCELERATED SHARE REPURCHASE During 2024 and 2023, the Company entered into accelerated share repurchase ("ASR") agreements providing for the repurchase of the Company's common stock based on the volume-weighted average price ("VWAP") of the Company's common stock during the term of the applicable agreements, less a discount. The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data): Initial Delivery Final Settlement Agreement Date Amount Shares Price per Value of Settlement Total Shares Average Price February 2023 $ 200.0 2.0 $ 80.44 80 % March 2023 2.5 $ 79.28 April 2024 $ 150.0 1.4 $ 85.95 80 % May 2024 1.7 $ 86.72 August 2024 $ 500.0 5.8 $ 68.93 80 % (a) ______________________________________ (a) The ASR agreement has a scheduled settlement date of December 27, 2024. At the conclusion of the ASR agreement, the Company may receive additional shares or may be required to pay additional cash or shares (at our election). The ASR agreements were accounted for as two separate transactions: (1) the value of the initial delivery of shares was recorded as shares of common stock acquired in a treasury stock transaction on the acquisition date, and (2) the remaining amount of the purchase price paid was recorded as a forward contract indexed to the Company's own common stock and was initially recorded in Additional Paid-in Capital and subsequently, upon settlement, will be transferred to Treasury Stock on the consolidated condensed balance sheets. The initial delivery of shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share. The Company determined that the forward contracts indexed to the Company's common stock met all the applicable criteria for equity classification and, therefore, were not accounted for as a derivative instrument.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In 2021, the Company initiated an internal review and investigation into whether certain business activities in Japan and other markets violated provisions of the Foreign Corrupt Practices Act (“FCPA”). The Company voluntarily notified the SEC and the United States Department of Justice (“DOJ”) about the matter and thereafter provided status updates. In September 2024, the Company received a letter from the SEC Staff stating that the SEC is not recommending an enforcement action. On September 28, 2021, Aortic Innovations LLC, a non-practicing entity, filed a lawsuit against Edwards Lifesciences Corporation and certain of its subsidiaries (“Edwards”) in the United States District Court for the District of Delaware alleging that Edwards’ SAPIEN 3 Ultra product infringes certain of its patents. The Company is unable to predict the ultimate outcome of this matter or estimate a range of possible exposure; therefore, no amounts have been accrued. The Company is vigorously defending itself in this litigation. The European Commission (the “Commission”) is investigating certain business practices of Edwards including its unilateral pro-innovation (anti-copycat) policy and patent practices. The Company is cooperating with the Commission and believes its business practices support healthy competition. The Company cannot predict the outcome of the investigation or the potential impact on our financial statements. On October 14, 2024, a purported stockholder of the Company filed a putative securities class action complaint against the Company and certain of the Company’s executive officers in the United States District Court for the Central District of California, captioned Patel v. Edwards Lifesciences Corporation , et al., No. 24-cv-02221. The complaint alleges violations of various securities laws based on alleged false or misleading statements regarding the Company’s business prospects. The complaint seeks damages, interest, costs and other fees. The Company is unable to predict the ultimate outcome of this matter or estimate a range of possible exposure; therefore, no amounts have been accrued. The Company intends to defend against the lawsuit vigorously. The Company is or may be a party to, or may otherwise be responsible for, pending or threatened lawsuits including those related to products and services currently or formerly manufactured or performed, as applicable, by the Company, workplace and employment matters, matters involving real estate, Company operations or health care regulations, contingent considerations, or governmental investigations (the “Lawsuits”). The Lawsuits raise difficult and complex factual and legal issues and are subject to many uncertainties, including, but not limited to, the facts and circumstances of each particular case or claim, the jurisdiction in which each suit is brought, and differences in applicable law. Management does not believe that any loss relating to the Lawsuits would have a material adverse effect on the Company's overall financial condition, results of operations or cash flows. However, the resolution of one or more of the Lawsuits in any reporting period, could have a material adverse impact on the Company's financial results for that period. The Company is not able to estimate the amount or range of any loss for legal contingencies related to the Lawsuits for which there is no reserve or additional loss for matters already reserved.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables summarize the activity for each component of Accumulated Other Comprehensive Loss (in millions): Foreign Unrealized Gain (Loss) on Hedges Unrealized Loss on Available-for-sale Investments Unrealized Pension Costs Total December 31, 2023 $ (214.5) $ 0.7 $ (24.8) $ (4.2) $ (242.8) Other comprehensive (loss) income before reclassifications (23.3) 43.4 7.0 0.4 27.5 Amounts reclassified from accumulated other comprehensive loss (1.7) (7.2) 2.5 — (6.4) Deferred income tax expense (1.1) (9.3) (1.1) (0.1) (11.6) March 31, 2024 $ (240.6) $ 27.6 $ (16.4) $ (3.9) $ (233.3) Other comprehensive income (loss) before reclassifications 3.4 21.8 4.2 (0.1) 29.3 Amounts reclassified from accumulated other comprehensive loss (1.8) (12.5) 1.0 — (13.3) Deferred income tax (expense) benefit (0.6) (2.4) 0.1 — (2.9) June 30, 2024 $ (239.6) $ 34.5 $ (11.1) $ (4.0) $ (220.2) Other comprehensive income (loss) before reclassifications 3.8 (41.0) 6.8 — (30.4) Amounts reclassified from accumulated other comprehensive loss (1.6) (17.0) (0.8) (19.4) Deferred income tax benefit 2.1 15.3 0.1 — 17.5 September 30, 2024 $ (235.3) $ (8.2) $ (5.0) $ (4.0) $ (252.5) Foreign Unrealized Gain on Hedges Unrealized Loss on Available-for-sale Investments Unrealized Total December 31, 2022 $ (218.8) $ 23.8 $ (65.6) $ 5.7 $ (254.9) Other comprehensive income (loss) before reclassifications 4.9 6.7 9.0 (0.1) 20.5 Amounts reclassified from accumulated other comprehensive loss (1.7) (29.8) 4.0 — (27.5) Deferred income tax benefit 0.6 5.9 — — 6.5 March 31, 2023 $ (215.0) $ 6.6 $ (52.6) $ 5.6 $ (255.4) Other comprehensive (loss) income before reclassifications (11.3) 33.5 2.1 0.2 24.5 Amounts reclassified from accumulated other comprehensive loss (1.8) (25.2) 3.8 — (23.2) Deferred income tax benefit (expense) 1.6 (3.0) — — (1.4) June 30, 2023 $ (226.5) $ 11.9 $ (46.7) $ 5.8 $ (255.5) Other comprehensive (loss) income before reclassifications (20.7) 38.6 9.4 — 27.3 Amounts reclassified from accumulated other comprehensive loss (1.7) (14.1) 1.2 — (14.6) Deferred income tax (expense) benefit (1.0) (6.3) — — (7.3) September 30, 2023 $ (249.9) $ 30.1 $ (36.1) $ 5.8 $ (250.1) The following table provides information about amounts reclassified from Accumulated Other Comprehensive Loss (in millions): Three Months Ended Nine Months Ended Affected Line on Consolidated Condensed Details about Accumulated Other Comprehensive Loss Components 2024 2023 2024 2023 Foreign currency translation adjustments $ 1.6 $ 1.7 $ 5.1 $ 5.2 Other non-operating income, net (0.5) (0.5) (1.3) (1.3) Provision for income taxes $ 1.1 $ 1.2 $ 3.8 $ 3.9 Net of tax Gain (Loss) on hedges $ 17.0 $ 9.3 $ 31.9 $ 53.0 Cost of sales — 4.8 4.8 16.1 Other non-operating income, net 17.0 14.1 36.7 69.1 Total before tax (4.2) (2.9) (8.9) (14.8) Provision for income taxes $ 12.8 $ 11.2 $ 27.8 $ 54.3 Net of tax Loss on available-for-sale investments $ 0.8 $ (1.2) $ (2.7) $ (9.0) Interest income, net (0.2) 0.4 0.7 2.3 Provision for income taxes $ 0.6 $ (0.8) $ (2.0) $ (6.7) Net of tax

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net income by the weighted-average common shares outstanding during the period. Diluted earnings per share is computed based on the weighted-average common shares outstanding plus the effect of dilutive potential common shares outstanding during the period calculated using the treasury stock method. Dilutive potential common shares include employee equity share options, nonvested shares, and similar equity instruments granted by the Company. Potential common share equivalents have been excluded where their inclusion would be anti-dilutive. The table below presents the computation of basic and diluted earnings per share (in millions, except for per share information): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Income for Earnings Per Share Calculations: Income from continuing operations, net of tax $ 362.1 $ 334.9 $ 1,051.0 $ 886.9 Net loss attributable to noncontrolling interests (1.4) (1.2) (3.6) (2.8) Income from continuing operations attributable to Edwards Lifesciences Corporation 363.5 336.1 1,054.6 889.7 Income from discontinued operations 2,707.3 48.8 2,734.4 142.8 Net income attributable to Edwards Lifesciences Corporation $ 3,070.8 $ 384.9 $ 3,789.0 $ 1,032.5 Weighted Average Shares: Basic weighted-average shares outstanding 597.2 607.0 600.3 607.2 Dilutive effect of stock plans 0.9 2.5 1.9 3.0 Dilutive weighted-average shares outstanding 598.1 609.5 602.2 610.2 Earnings per Share: Basic: Continuing operations $ 0.61 $ 0.55 $ 1.76 $ 1.47 Discontinued operations 4.53 0.08 4.55 0.23 Basic earnings per share $ 5.14 $ 0.63 $ 6.31 $ 1.70 Diluted: Continuing operations $ 0.61 $ 0.55 $ 1.75 $ 1.46 Discontinued operations 4.52 0.08 4.54 0.23 Diluted earnings per share $ 5.13 $ 0.63 $ 6.29 $ 1.69 Stock options, restricted stock units, and market-based restricted stock units to purchase an aggregate of 10.4 million and 6.5 million common shares for the three months ended September 30, 2024 and 2023, respectively, and 7.8 million and 6.1 million shares for the nine months ended September 30, 2024 and 2023, respectively, were outstanding, but were not included in the computation of diluted earnings per share for such periods because the effect would have been anti-dilutive. Additionally, 1.9 million shares that would have been received if the ASR agreement discussed in Note 12 was settled as of September 30, 2024 were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's effective income tax rates attributable to continuing operations were 10.1% and 13.6% for the three months ended September 30, 2024 and 2023, respectively and 9.2% and 11.8% for the nine months ended September 30, 2024 and 2023, respectively. The decrease in the effective rate between the nine months ended September 30, 2024 and 2023 is primarily due to an increase in tax benefits from foreign earnings taxed at lower rates and favorable global income tax audit settlements. In addition, the effective rates for the nine months ended September 30, 2024 and 2023 were lower than the federal statutory rate of 21% primarily due to (1) foreign earnings taxed at lower rates, (2) Federal and California research and development credits, and (3) the tax benefit from employee share-based compensation. The effective rates include a tax benefit from employee share- based compensation attributable to continuing operations of $0.6 million and $1.8 million for the three months ended September 30, 2024 and 2023, respectively, and $10.1 million and $12.8 million for the nine months ended September 30, 2024 and 2023 , respectively. The Internal Revenue Service ("IRS") and other taxing authorities are in different stages of examining various years of the Company's tax filings. During these audits, the Company may receive proposed audit adjustments that could be material. An adverse outcome in these audits could have a material effect on the Company's results of operations and financial condition. The Company strives to resolve open matters with each taxing authority at the examination level and could reach agreement with a tax authority at any time. While the Company has accrued for matters it believes are more likely than not to require settlement, the final outcome with a tax authority may result in a tax liability that is materially different from that reflected in the consolidated financial statements. Furthermore, the Company may later decide to challenge any assessments, if made, and may exercise its right to appeal. The uncertain tax positions are reviewed quarterly and adjusted as events occur that affect potential liabilities for additional taxes, such as lapsing of applicable statutes of limitations, proposed assessments by tax authorities, negotiations between tax authorities, identification of new issues, and issuance of new legislation, regulations, or case law. As of September 30, 2024 and December 31, 2023, the gross liability recorded for income taxes associated with uncertain tax positions was $656.5 million and $583.9 million, respectively. The Company estimates that these liabilities would be reduced by $326.1 million and $250.7 million, respectively, from offsetting tax benefits associated with the correlative effects of potential transfer pricing adjustments, state income taxes, and timing adjustments. The net amounts of $330.4 million and $333.2 million, respectively, if not required, would favorably affect the Company's effective tax rate. Management believes that adequate amounts of tax and related penalty and interest have been provided for any adjustments that may result from these uncertain tax positions. The Company executed an Advance Pricing Agreement (“APA”) in 2018 between the United States and Switzerland governments for tax years 2009 through 2020 covering various, but not all, transfer pricing matters. The unagreed transfer pricing matters, namely Surgical Structural Heart and Transcatheter Aortic Valve Replacement (collectively "Surgical/TAVR") intercompany royalty transactions, then reverted to IRS examination for further consideration as part of the respective years' regular tax audits. In addition, the Company executed other bilateral APAs as follows: during 2017, an APA between the United States and Japan covering tax years 2015 through 2019; and during 2018, APAs between Singapore and Japan and between Switzerland and Japan covering tax years 2015 through 2019. The Company has filed to renew all three of the APAs with Japan for the years 2020 and forward. An APA between Switzerland and Japan covering tax years 2020 through 2024 was executed in 2021. An APA between the United States and Japan covering tax years 2020 through 2024 was executed in 2023. The APA renewal between Singapore and Japan covering tax years 2020 through 2026 is pending. The audits of the Company’s United States federal income tax returns through 2014 have been closed. The IRS audit field work for the 2015 through 2017 tax years was completed during the second quarter of 2021, except for transfer pricing and related matters. The IRS is currently examining the 2018 through 2020 tax years. The audits of the Company's material state, local, and foreign income tax matters have been concluded for years through 2015. During 2021, the Company received a Notice of Proposed Adjustment (“NOPA”) from the IRS for the 2015 through 2017 tax years relating to transfer pricing involving Surgical/TAVR intercompany royalty transactions between the Company's United States and Switzerland subsidiaries. The NOPA proposed a substantial increase to the Company's United States taxable income, which could result in additional tax expense for the 2015 through 2017 period of approximately $250 million and reflects a departure from a transfer pricing method the Company had previously agreed upon with the IRS. The Company disagreed with the NOPA and pursued an administrative appeal with the IRS Independent Office of Appeals ("Appeals"). The Appeals process culminated in the third quarter of 2023 when the Company and Appeals concluded that a satisfactory resolution of the matter at the administrative level was not possible. During the fourth quarter of 2023, Appeals issued a notice of deficiency ("NOD") increasing the Company's 2015 through 2017 United States federal income tax in amounts resulting from the income adjustments previously reflected in the NOPA. The additional tax sought in excess of the Company's filing position is $269.3 million before consideration of interest and a repatriation tax offset. The Company plans to vigorously contest the additional tax claimed by the IRS through the judicial process. Final resolution of this matter is not likely within the next 12 months. The Company believes the amounts previously accrued related to this uncertain tax position are appropriate for a number of reasons, including the interpretation and application of relevant tax law and accounting standards to the Company's facts and, accordingly, has not accrued any additional amount based on the NOD and other proceedings to date. Nonetheless, the outcome of the judicial process cannot be predicted with certainty, and it is possible that the outcome of that process could have a material impact on the Company's consolidated financial statements. As noted below, similar material tax disputes may arise for the 2018 through 2024 tax years. While no payment of any amount related to the NOPA or NOD has yet been required, the Company made a partial deposit with the IRS of $75 million in November 2022 to prevent the further accrual of interest on that portion of any additional tax the Company may ultimately be found to owe. In March 2024, the Company made an additional deposit with the IRS of $305 million to further mitigate interest on potential tax liabilities and interest thereon while the Company prepares to contest through the judicial process the IRS's entitlement to any of the additional tax claimed by the IRS. Surgical/TAVR intercompany royalty transactions covering tax years 2018 through 2024 remain subject to IRS examination, and those transactions and related tax positions remain uncertain as of September 30, 2024. The Company has considered this information, as well as information regarding the NOD and other proceedings described above in its evaluation of its uncertain tax positions. The impact of these unresolved transfer pricing matters, net of any correlative tax adjustments, may be significant to the Company’s consolidated financial statements. Based on the information currently available and numerous possible outcomes, the Company cannot reasonably estimate what, if any, changes in its existing uncertain tax positions may occur in the next 12 months and, therefore, has continued to record the uncertain tax positions as a long-term liability. During the first quarter of 2024, the Company received a notice of assessment from the Israel Tax Authority (“ITA”) wherein the ITA claimed that the Company owes approximately $110 million of tax excluding interest and penalties in connection with a claimed 2017 transfer of intellectual property. The Company maintains that it did not transfer intellectual property outside of Israel and intends to vigorously defend that position through administrative proceedings including a formal appeal of the assessment that was filed during the third quarter of 2024. If necessary, the Company will defend that position through judicial proceedings. There can be no assurance that this matter will be resolved in the Company's favor and an adverse outcome could have a material effect on the Company's consolidated financial statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Edwards Lifesciences conducts operations worldwide and is managed in the following geographical regions: United States, Europe, Japan, and Rest of World. All regions sell products that are used to treat advanced cardiovascular disease. The Company's geographic segments are reported based on the financial information provided to the Chief Operating Decision Maker (the Chief Executive Officer). The Company evaluates the performance of its geographic segments based on net sales and operating income. Segment net sales and segment operating income are based on internally derived foreign exchange rates and do not include inter-segment profits. Because of the interdependence of the reportable segments, the operating profit as presented may not be representative of the geographical distribution that would occur if the segments were not interdependent. Net sales by geographic area are based on the location of the customer. There were no customers that represented 10% or more of the Company's total net sales. Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include corporate research and development expenses, manufacturing variances, corporate headquarters costs, net interest income, global marketing expenses, special gains and charges, stock-based compensation, foreign currency hedging activities, certain litigation costs, changes in the fair value of contingent consideration liabilities, and most of the Company's amortization expense. Although most of the Company's depreciation expense is included in segment operating income, due to the Company's methodology for cost build-up, it is impractical to determine the amount of depreciation expense included in each segment and, therefore, a portion is maintained at the corporate level. The Company neither discretely allocates assets to its operating segments, nor evaluates the operating segments using discrete asset information. The table below presents information about Edwards Lifesciences' reportable segments (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Segment Net Sales United States $ 804.6 $ 735.9 $ 2,393.1 $ 2,203.6 Europe 315.1 282.7 968.4 878.0 Japan 85.8 84.9 265.6 251.5 Rest of World 153.2 136.1 440.9 399.0 Total segment net sales $ 1,358.7 $ 1,239.6 $ 4,068.0 $ 3,732.1 Segment Operating Income United States $ 551.2 $ 498.4 $ 1,619.2 $ 1,510.2 Europe 177.3 156.1 540.3 489.2 Japan 54.4 53.7 159.8 158.5 Rest of World 67.2 59.5 184.7 170.6 Total segment operating income $ 850.1 $ 767.7 $ 2,504.0 $ 2,328.5 The table below presents reconciliations of segment net sales to consolidated net sales and segment operating income to consolidated pre-tax income (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Sales Reconciliation Segment net sales $ 1,358.7 $ 1,239.6 $ 4,068.0 $ 3,732.1 Foreign currency (4.3) 3.8 (14.3) 11.5 Consolidated net sales $ 1,354.4 $ 1,243.4 $ 4,053.7 $ 3,743.6 Pre-tax Income Reconciliation Segment operating income $ 850.1 $ 767.7 $ 2,504.0 $ 2,328.5 Unallocated amounts: Corporate items (468.7) (410.1) (1,396.5) (1,259.4) Restructuring expenses (Note 4) (32.9) — (32.9) — Intellectual property agreement and certain litigation expenses (10.8) (2.2) (27.8) (193.6) Change in fair value of contingent consideration liabilities — — — 26.2 Foreign currency 12.9 10.5 19.3 60.4 Consolidated operating income 350.6 365.9 1,066.1 962.1 Non-operating income 52.2 21.7 91.9 43.1 Consolidated pre-tax income $ 402.8 $ 387.6 $ 1,158.0 $ 1,005.2 Enterprise-wide Information (in millions) The following enterprise-wide information is based on actual foreign exchange rates used in the Company's consolidated condensed financial statements. Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Sales by Geographic Region United States $ 804.6 $ 735.9 $ 2,393.1 $ 2,203.6 Europe 319.8 286.5 978.0 877.7 Japan 81.4 85.8 253.9 266.4 Rest of World 148.6 135.2 428.7 395.9 $ 1,354.4 $ 1,243.4 $ 4,053.7 $ 3,743.6 Net Sales by Major Product Group Transcatheter Aortic Valve Replacement $ 1,023.3 $ 960.9 $ 3,069.8 $ 2,900.4 Transcatheter Mitral and Tricuspid Therapies 91.1 52.4 247.0 141.6 Surgical Structural Heart 240.0 230.1 736.9 701.6 $ 1,354.4 $ 1,243.4 $ 4,053.7 $ 3,743.6

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In October 2024, the Company acquired all the remaining outstanding shares of Innovalve Bio Medical Limited ("Innovalve") for an aggregate cash purchase price of $300.0 million, subject to certain adjustments, plus an additional $25.0 million upon achievement of a certain regulatory milestone. Innovalve is a developer of a transcatheter mitral valve replacement system.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 3,070.8	$ 384.9	$ 3,789	$ 1,032.5

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Scott B. Ullem [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 19, 2024, Scott B. Ullem, Corporate Vice President, Chief Financial Officer, entered into a Plan providing for the potential sale of 56,250 shares of the Company’s stock commencing December 9, 2024. Mr. Ullem's Plan terminates on the earlier of May 9, 2025 or the date all shares are sold.
Name	Scott B. Ullem
Title	Corporate Vice President, Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 19, 2024
Expiration Date	May 9, 2025
Arrangement Duration	151 days
Aggregate Available	56,250	56,250
Bernard J. Zovighian [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		In addition, on September 23, 2024, Bernard J. Zovighian, Chief Executive Officer and Director, terminated a Plan that had provided for the potential sale of 25,147 shares of the Company’s stock commencing May 20, 2024. Following the termination date, no remaining shares can be sold pursuant to the Plan.
Name	Bernard J. Zovighian
Title	Chief Executive Officer and Director
Rule 10b5-1 Arrangement Terminated	true
Termination Date	September 23, 2024
Aggregate Available	25,147	25,147

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying interim consolidated condensed financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the consolidated financial statements and notes included in Edwards Lifesciences' Annual Report on Form 10-K for the year ended December 31, 2023. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") have been condensed or omitted.
Consolidation	The consolidated condensed financial statements include the accounts of all wholly-owned subsidiaries and variable interest entities for which the Company is the primary beneficiary. The Company attributes the net income or losses of its consolidated variable interest entities to controlling and noncontrolling interests using the hypothetical liquidation at book value method. All intercompany accounts and transactions have been eliminated in consolidation. On September 3, 2024, the Company sold its Critical Care product group ("Critical Care"). The historical results of Critical Care are reflected as discontinued operations in the Company's consolidated condensed financial statements for all periods presented. In addition, as a next step in the Company's disposal plan to exit businesses that are not focused on implantable medical innovations for structural heart disease, the historical results of a small non-core product group that the Company plans to sell are also included in discontinued operations. Unless otherwise indicated, the information in the notes to the consolidated condensed financial statements refer only to Edwards Lifesciences' continuing operations. For more information, see Note 5.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.
Recently Adopted Accounting Standards and New Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In March 2023, the Financial Accounting Standards Board ("FASB") issued an amendment to the accounting guidance on investments in tax credit structures to allow entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The guidance is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. The Company adopted this guidance on January 1, 2024. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements. New Accounting Standards Not Yet Adopted In November 2024, the FASB issued an amendment to the accounting guidance on income statement presentation to require disclosure, in the notes to the financial statements, of disaggregated information about certain costs and expenses, including purchases of inventory, employee compensation, and depreciation and amortization included in each relevant expense caption within continuing operations. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact the guidance will have on its consolidated financial statements. In March 2024, the SEC issued final climate-related disclosure rules that will require disclosure of material climate-related risks and material direct greenhouse gas emissions from operations owned or controlled (Scope 1) and/or material indirect greenhouse gas emissions from purchased energy consumed in owned or controlled operations (Scope 2). Additionally, the rules require disclosure in the notes to the financial statements of the effects of severe weather events and other natural conditions, subject to certain materiality thresholds. The new rules will be effective for annual reporting periods beginning in fiscal year 2025, except for the greenhouse gas emissions disclosures which will be effective for annual reporting periods beginning in fiscal year 2026. Subsequent to issuance, the rules became the subject of litigation, and the SEC has issued a stay to allow the legal process to proceed. The Company is currently evaluating the disclosure impact the guidance will have on its consolidated financial statements. In December 2023, the FASB issued an amendment to the accounting guidance on income taxes which requires entities to provide additional information in the rate reconciliation and additional disaggregated disclosures about income taxes paid. This guidance requires public entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The guidance is effective for annual periods beginning after December 15, 2024. The Company does not expect the adoption of this guidance to impact its financial statements, but the guidance will impact its income tax disclosures. In November 2023, the FASB issued an amendment to the accounting guidance on segment reporting. The amendments require disclosure of significant segment expenses and other segment items and requires entities to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The amendment also requires disclosure of the title and position of the chief operating decision maker ("CODM") and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective application is required, and early adoption is permitted. The Company is currently evaluating the impact the guidance will have on its consolidated financial statements.

OTHER CONSOLIDATED FINANCIAL _2

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Selected Captions in the Consolidated Balance Sheets	Components of selected captions in the consolidated condensed balance sheets consisted of the following: September 30, December 31, 2023 Inventories Raw materials $ 248.8 $ 196.3 Work in process 244.4 195.8 Finished products 611.0 511.4 $ 1,104.2 $ 903.5
Schedule of Accrued and Other Liabilities	September 30, December 31, 2023 Other assets Tax receivable (Note 16) $ 293.7 $ — Notes and other receivables 132.9 155.1 Acquisition options 117.5 161.3 Long-term prepaid royalties 103.7 109.9 Fair value of derivatives 21.8 23.4 Other long-term assets 13.9 13.5 $ 683.5 $ 463.2 Accrued and other liabilities Employee compensation and withholdings $ 312.1 $ 316.4 Taxes payable (Note 5) 715.1 52.7 Property, payroll, and other taxes 83.7 53.8 Research and development accruals 79.0 71.6 Accrued rebates 140.0 123.5 Fair value of derivatives 24.3 15.2 Accrued marketing expenses 14.5 13.7 Legal and insurance 29.5 28.9 Litigation settlement 75.1 69.1 Accrued relocation costs 16.2 16.9 Accrued professional services 62.2 8.5 Accrued realignment reserves 39.6 6.4 Unfavorable contract liability 66.0 — Other accrued liabilities 88.0 79.7 $ 1,745.3 $ 856.4
Schedule of Supplemental Cash Flow Information	Supplemental Cash Flow Information (in millions) Nine Months Ended 2024 2023 Cash paid during the year for: Income taxes (a) (Note 16) $ 633.8 $ 219.1 Amounts included in the measurement of operating lease liabilities $ 21.0 $ 19.1 Non-cash investing and financing transactions: Right-of-use assets obtained in exchange for new lease liabilities $ 38.9 $ 19.9 Capital expenditures accruals $ 22.9 $ 32.5 ______________________________________ (a) Includes cash paid for income taxes from discontinued operations of $29.7 million and $22.7 million for the nine months ended September 30, 2024 and 2023, respectively.
Schedule of Cash and Cash Equivalents	Cash, Cash Equivalents, and Restricted Cash (in millions) September 30, December 31, 2023 Continuing operations Cash and cash equivalents $ 3,676.4 $ 1,132.3 Restricted cash included in other current assets 3.2 3.3 Restricted cash included in other assets 0.9 0.7 Total $ 3,680.5 $ 1,136.3 Discontinued operations Cash and cash equivalents $ 2.9 $ 11.7 Total $ 2.9 $ 11.7 Total cash, cash equivalents, and restricted cash $ 3,683.4 $ 1,148.0
Schedule of Restricted Cash	Cash, Cash Equivalents, and Restricted Cash (in millions) September 30, December 31, 2023 Continuing operations Cash and cash equivalents $ 3,676.4 $ 1,132.3 Restricted cash included in other current assets 3.2 3.3 Restricted cash included in other assets 0.9 0.7 Total $ 3,680.5 $ 1,136.3 Discontinued operations Cash and cash equivalents $ 2.9 $ 11.7 Total $ 2.9 $ 11.7 Total cash, cash equivalents, and restricted cash $ 3,683.4 $ 1,148.0

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	Details of Income from Discontinued Operations are as follows (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net sales $ 177.2 $ 237.5 $ 708.4 $ 727.1 Cost of sales 65.4 99.8 265.1 295.5 Gross profit 111.8 137.7 443.3 431.6 Selling, general, and administrative expenses 40.9 57.7 163.2 178.7 Research and development expenses 21.4 27.5 81.3 81.0 Separation costs 81.5 — 202.5 — Operating (loss) income, net (32.0) 52.5 (3.7) 171.9 Other non-operating (income) expense, net (3,338.9) 0.8 (3,337.5) 0.7 Income from discontinued operations before provision for income taxes 3,306.9 51.7 3,333.8 171.2 Provision for income taxes from discontinued operations 599.6 2.9 599.4 28.4 Net income from discontinued operations 2,707.3 48.8 2,734.4 142.8 Details of assets and liabilities of discontinued operations are as follows (in millions): September 30, December 31, Cash and cash equivalents $ 2.9 $ 11.7 Accounts receivable, net of allowances — 3.6 Other receivables — 5.2 Inventories 17.1 264.7 Prepaid expenses — 18.0 Other current assets — 14.4 Total current assets of discontinued operations $ 20.0 $ 317.6 Property, plant, and equipment, net 3.1 158.4 Operating lease right-of-use assets — 9.6 Goodwill 7.4 108.4 Other intangible assets, net — 29.0 Deferred income taxes — 5.2 Other assets — 0.5 Total non-current assets of discontinued operations $ 10.5 $ 311.1 Accounts payable $ — $ 14.8 Accrued and other liabilities 1.8 112.7 Operating lease liabilities — 2.0 Total current liabilities of discontinued operations $ 1.8 $ 129.5 Operating lease liabilities — 7.8 Uncertain tax positions — 4.3 Other liabilities — 13.0 Total non-current liabilities of discontinued operations $ — $ 25.1 Cash flows attributable to the Company's discontinued operations are included in the Company's consolidated condensed statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in millions): Nine Months Ended 2024 2023 Depreciation and amortization 12.1 16.2 Stock-based compensation 16.7 11.6 Inventory write off 17.0 13.2 Capital expenditures 16.4 21.0

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments in Debt Securities	Investments in debt securities at the end of each period were as follows (in millions): September 30, 2024 December 31, 2023 Held-to-maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Bank time deposits $ 50.5 $ — $ — $ 50.5 $ 64.5 $ — $ — $ 64.5 Available-for-sale Bank time deposits $ 17.6 $ — $ — $ 17.6 $ — $ — $ — $ — Commercial paper 112.9 — — 112.9 — — — — U.S. government and agency securities 185.2 0.1 (1.2) 184.1 72.7 0.1 (2.8) 70.0 Asset-backed securities 80.2 — (1.6) 78.6 192.1 — (7.8) 184.3 Corporate debt securities 502.2 0.1 (4.0) 498.3 658.5 — (16.7) 641.8 Municipal securities 2.8 — (0.1) 2.7 2.8 — (0.2) 2.6 Total $ 900.9 $ 0.2 $ (6.9) $ 894.2 $ 926.1 $ 0.1 $ (27.5) $ 898.7
Schedule of Cost and Fair Value of Investments in Debt Securities, by Contractual Maturity	The cost and fair value of investments in debt securities, by contractual maturity, as of September 30, 2024, were as follows: Held-to-Maturity Available-for-Sale Amortized Cost Fair Value Amortized Cost Fair Value (in millions) Due in 1 year or less $ 50.5 $ 50.5 $ 721.1 $ 719.2 Due after 1 year through 5 years — — 81.4 79.2 Instruments not due at a single maturity date (a) — — 98.4 95.8 $ 50.5 $ 50.5 $ 900.9 $ 894.2 _______________________________________ (a) Consists of mortgage-backed and asset-backed securities.
Schedule of Gross Unrealized Losses and Fair Values for Investments in Unrealized Loss Position	The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions): September 30, 2024 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government and agency securities $ — $ — $ 34.0 $ (1.2) $ 34.0 $ (1.2) Asset-backed securities 3.6 (0.1) 65.3 (1.5) 68.9 (1.6) Corporate debt securities — — 193.0 (4.0) 193.0 (4.0) Municipal securities — — 2.7 (0.1) 2.7 (0.1) $ 3.6 $ (0.1) $ 295.0 $ (6.8) $ 298.6 $ (6.9) December 31, 2023 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government and agency securities $ — $ — $ 67.1 $ (2.8) $ 67.1 $ (2.8) Asset-backed securities 10.2 (1.8) 172.7 (6.0) 182.9 (7.8) Corporate debt securities 25.0 (0.1) 601.3 (16.6) 626.3 (16.7) Municipal securities — — 2.6 (0.2) 2.6 (0.2) $ 35.2 $ (1.9) $ 843.7 $ (25.6) $ 878.9 $ (27.5)
Schedule of Investments in Unconsolidated Affiliates	These investments are recorded in Long-term Investments on the consolidated condensed balance sheets, and are as follows: September 30, December 31, (in millions) Equity method investments Carrying value of equity method investments $ 32.3 $ 33.6 Equity securities Carrying value of marketable equity securities 7.4 — Carrying value of non-marketable equity securities 104.9 87.6 Total investments in unconsolidated entities $ 144.6 $ 121.2

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions): Cash consideration paid at closing $ 650.3 Settlement of pre-existing relationships 53.1 Fair value of previously held equity interest 94.6 Fair value of contingent consideration 2.0 Total purchase price 800.0 Less: cash acquired (1.2) Total purchase price, net of cash acquired $ 798.8 Current assets $ 7.7 Property and equipment, net 12.6 Goodwill 412.0 In-process research and development 69.0 Developed technology 385.0 Operating lease right-of-use assets 9.9 Other assets 0.7 Liabilities assumed (26.3) Deferred tax liabilities (70.6) Net assets acquired 800.0 Less: cash acquired (1.2) Total purchase price, net of cash acquired $ 798.8 The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions): Cash consideration paid at closing $ 114.8 Fair value of contingent consideration 1.8 Total purchase price 116.6 Less: cash acquired (0.3) Total purchase price, net of cash acquired $ 116.3 Current assets $ 0.3 Property and equipment, net 0.3 Goodwill 46.9 In-process research and development 86.6 Current liabilities assumed (1.0) Deferred tax liabilities (16.5) Net assets acquired 116.6 Less: cash acquired (0.3) Total purchase price, net of cash acquired $ 116.3

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis	The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions): September 30, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 2,287.8 $ 852.3 $ — $ 3,140.1 Available-for-sale investments: Bank time deposits — 17.6 — 17.6 Corporate debt securities — 498.3 — 498.3 Asset-backed securities — 78.6 — 78.6 United States government and agency securities 49.3 134.8 — 184.1 Commercial paper — 112.9 — 112.9 Municipal securities — 2.7 — 2.7 Equity investments in unconsolidated entities 7.5 — — 7.5 Investments held for deferred compensation plans 143.9 — — 143.9 Derivatives — 27.6 — 27.6 $ 2,488.5 $ 1,724.8 $ — $ 4,213.3 Liabilities Derivatives $ — $ 24.3 $ — $ 24.3 Contingent consideration liabilities — — 3.8 3.8 Other — — 5.0 5.0 $ — $ 24.3 $ 8.8 $ 33.1 December 31, 2023 Assets Cash equivalents $ 579.2 $ — $ — $ 579.2 Available-for-sale investments: Corporate debt securities — 641.8 — 641.8 Asset-backed securities — 184.3 — 184.3 United States government and agency securities — 70.0 — 70.0 Municipal securities — 2.6 — 2.6 Investments held for deferred compensation plans 125.8 — — 125.8 Derivatives — 39.5 — 39.5 $ 705.0 $ 938.2 $ — $ 1,643.2 Liabilities Derivatives $ — $ 15.2 $ — $ 15.2 Other — — 10.3 10.3 $ — $ 15.2 $ 10.3 $ 25.5
Schedule of Changes in Fair Value of Contingent Consideration and Other Liability	The following tables summarize the changes in fair value of Level 3 financial instruments measured at fair value on a recurring basis (in millions): Contingent Consideration Other Total Balance at December 31, 2023 $ — $ 10.3 $ 10.3 Additions 3.8 — 3.8 Payments — — — Changes in fair value — (5.3) (5.3) Balance at September 30, 2024 $ 3.8 $ 5.0 $ 8.8 Contingent Consideration Other Total Balance at December 31, 2022 $ 26.2 $ 14.0 $ 40.2 Changes in fair value (26.2) (3.7) (29.9) Balance at September 30, 2023 $ — $ 10.3 $ 10.3

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Financial Instruments Used to Manage Currency Exchange Rate Risk and Interest Rate Risk	The Company uses derivative financial instruments to manage its currency exchange rate risk and its interest rate risk as summarized below. Notional amounts are stated in United States dollar equivalents at spot exchange rates at the respective dates. The Company does not enter into these arrangements for trading or speculation purposes. Notional Amount September 30, December 31, 2023 (in millions) Foreign currency forward exchange contracts $ 2,219.8 $ 1,460.3 Cross-currency swap contracts 300.0 300.0
Schedule of Location and Fair Value Amounts of Derivative Instruments Reported in Consolidated Condensed Balance Sheets	The following table presents the location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets (in millions): Fair Value Derivatives designated as hedging instruments Balance Sheet September 30, December 31, 2023 Assets Foreign currency contracts Other current assets $ 5.8 $ 16.1 Cross-currency swap contracts Other assets $ 21.8 $ 23.4 Liabilities Foreign currency contracts Accrued and other liabilities $ 21.2 $ 15.2 Derivatives not designated as hedging instruments Liabilities Foreign currency contracts Accrued and other liabilities $ 3.1 $ —
Schedule of Effect of Master-Netting Agreements and Rights of Offset, Derivative Assets	The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions): Gross Amounts Gross Amounts Net Amounts September 30, 2024 Gross Financial Cash Net Derivative assets Foreign currency contracts $ 5.8 $ — $ 5.8 $ (3.8) $ — $ 2.0 Cross-currency swap contracts $ 21.8 $ — $ 21.8 $ — $ — $ 21.8 Derivative liabilities Foreign currency contracts $ 24.3 $ — $ 24.3 $ (3.8) $ — $ 20.5 December 31, 2023 Derivative assets Foreign currency contracts $ 16.1 $ — $ 16.1 $ (9.4) $ — $ 6.7 Cross-currency swap contracts $ 23.4 $ — $ 23.4 $ — $ — $ 23.4 Derivative liabilities Foreign currency contracts $ 15.2 $ — $ 15.2 $ (9.4) $ — $ 5.8
Schedule of Effect of Master-Netting Agreements and Rights of Offset, Derivative Liabilities	The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions): Gross Amounts Gross Amounts Net Amounts September 30, 2024 Gross Financial Cash Net Derivative assets Foreign currency contracts $ 5.8 $ — $ 5.8 $ (3.8) $ — $ 2.0 Cross-currency swap contracts $ 21.8 $ — $ 21.8 $ — $ — $ 21.8 Derivative liabilities Foreign currency contracts $ 24.3 $ — $ 24.3 $ (3.8) $ — $ 20.5 December 31, 2023 Derivative assets Foreign currency contracts $ 16.1 $ — $ 16.1 $ (9.4) $ — $ 6.7 Cross-currency swap contracts $ 23.4 $ — $ 23.4 $ — $ — $ 23.4 Derivative liabilities Foreign currency contracts $ 15.2 $ — $ 15.2 $ (9.4) $ — $ 5.8
Schedule of Effect of Derivative Instruments on Consolidated Condensed Statements of Operations and Consolidated Condensed Statements of Comprehensive Income	The following tables present the effect of derivative and non-derivative hedging instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income (in millions): Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cash flow hedges Foreign currency contracts $ (40.9) $ 33.5 $ 17.0 $ 60.4 Net investment hedges Cross-currency swap contracts $ (8.7) $ 3.8 $ (1.6) $ (5.2)
Schedule of Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Condensed Statements of Operations	The following tables present the effect of derivative instruments on the consolidated condensed statements of operations (in millions): Location and Amount of Gain or (Loss) Recognized in Income Three Months Ended Nine Months Ended Cost of sales Interest income, net Other non-operating income, net Cost of sales Interest income, net Other non-operating income, net Total amounts presented in the consolidated condensed statements of operations $ (262.9) $ 24.3 $ 27.9 $ (825.3) $ 56.3 $ 35.6 The effects of fair value hedges: Foreign currency contracts: Hedged items $ — $ — $ — $ — $ — $ (4.0) Derivatives designated as hedging instruments $ — $ — $ — $ — $ — $ 4.0 Amount excluded from effectiveness testing (amortized) $ — $ — $ — $ — $ — $ 0.8 The effects of cash flow hedges: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income $ 17.0 $ — $ — $ 31.9 $ — $ — The effects of net investment hedges: Cross currency swap contracts: Amount excluded from effectiveness testing $ — $ 1.6 $ — $ — $ 5.1 $ — The effects of non-designated hedges: Foreign currency contracts $ — $ — $ (29.6) $ — $ — $ 3.7 Location and Amount of Gain or (Loss) Recognized in Income Three Months Ended Nine Months Ended Cost of sales Interest income, net Other non-operating income, net Cost of sales Interest income, net Other non-operating income, net Total amounts presented in the consolidated condensed statements of operations $ (250.6) $ 15.1 $ 6.6 $ (727.4) $ 32.8 $ 10.3 The effects of fair value hedges: Foreign currency contracts: Hedged items $ — $ — $ (3.6) $ — $ — $ (12.5) Derivatives designated as hedging instruments $ — $ — $ 3.6 $ — $ — $ 12.5 Amount excluded from effectiveness testing (amortized) $ — $ — $ 1.2 $ — $ — $ 3.6 The effects of cash flow hedges: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income $ 9.3 $ — $ — $ 53.0 $ — $ — The effects of net investment hedges: Cross currency swap contracts: Amount excluded from effectiveness testing $ — $ 1.7 $ — $ — $ 5.2 $ — The effects of non-designated hedges: Foreign currency contracts $ — $ — $ 14.6 $ — $ — $ 19.1

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three and nine months ended September 30, 2024 and 2023 was as follows (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cost of sales $ 6.1 $ 4.7 $ 20.8 $ 16.3 Selling, general, and administrative expenses 20.4 17.2 62.4 57.3 Research and development expenses 8.7 7.2 28.3 23.7 Total stock-based compensation expense 35.2 29.1 111.5 97.3 Income tax benefit (6.0) (4.7) (17.5) (14.5) Total stock-based compensation expense, net of tax $ 29.2 $ 24.4 $ 94.0 $ 82.8
Schedule of Weighted-Average Assumptions for Options Granted	The following table includes the weighted-average grant-date fair values of stock options granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: Option Awards Three Months Ended Nine Months Ended 2024 2023 2024 2023 Risk-free interest rate 4.2 % 4.3 % 4.5% 3.4% Expected dividend yield None None None None Expected volatility 31.0 % 32.7 % 30.9% 32.8% Expected term (years) 5.5 5.2 5.3 5.1 Fair value, per option $ 32.15 $ 31.16 $ 31.30 $ 31.02
Schedule of Weighted-Average Assumptions for ESPP Subscriptions Granted	The following table includes the weighted-average grant-date fair values for ESPP subscriptions granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: ESPP Three Months Ended Nine Months Ended 2024 2023 2024 2023 Risk-free interest rate 5.3 % 5.3 % 5.2% 4.6% Expected dividend yield None None None None Expected volatility 29.5 % 34.8 % 33.5% 31.5% Expected term (years) 0.6 0.6 0.6 0.6 Fair value, per share $ 16.51 $ 18.53 $ 25.01 $ 19.03

ACCELERATED SHARE REPURCHASE (T

ACCELERATED SHARE REPURCHASE (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accelerated Share Repurchases	The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data): Initial Delivery Final Settlement Agreement Date Amount Shares Price per Value of Settlement Total Shares Average Price February 2023 $ 200.0 2.0 $ 80.44 80 % March 2023 2.5 $ 79.28 April 2024 $ 150.0 1.4 $ 85.95 80 % May 2024 1.7 $ 86.72 August 2024 $ 500.0 5.8 $ 68.93 80 % (a) ______________________________________

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Activity for Each Component of Accumulated Other Comprehensive Loss	The following tables summarize the activity for each component of Accumulated Other Comprehensive Loss (in millions): Foreign Unrealized Gain (Loss) on Hedges Unrealized Loss on Available-for-sale Investments Unrealized Pension Costs Total December 31, 2023 $ (214.5) $ 0.7 $ (24.8) $ (4.2) $ (242.8) Other comprehensive (loss) income before reclassifications (23.3) 43.4 7.0 0.4 27.5 Amounts reclassified from accumulated other comprehensive loss (1.7) (7.2) 2.5 — (6.4) Deferred income tax expense (1.1) (9.3) (1.1) (0.1) (11.6) March 31, 2024 $ (240.6) $ 27.6 $ (16.4) $ (3.9) $ (233.3) Other comprehensive income (loss) before reclassifications 3.4 21.8 4.2 (0.1) 29.3 Amounts reclassified from accumulated other comprehensive loss (1.8) (12.5) 1.0 — (13.3) Deferred income tax (expense) benefit (0.6) (2.4) 0.1 — (2.9) June 30, 2024 $ (239.6) $ 34.5 $ (11.1) $ (4.0) $ (220.2) Other comprehensive income (loss) before reclassifications 3.8 (41.0) 6.8 — (30.4) Amounts reclassified from accumulated other comprehensive loss (1.6) (17.0) (0.8) (19.4) Deferred income tax benefit 2.1 15.3 0.1 — 17.5 September 30, 2024 $ (235.3) $ (8.2) $ (5.0) $ (4.0) $ (252.5) Foreign Unrealized Gain on Hedges Unrealized Loss on Available-for-sale Investments Unrealized Total December 31, 2022 $ (218.8) $ 23.8 $ (65.6) $ 5.7 $ (254.9) Other comprehensive income (loss) before reclassifications 4.9 6.7 9.0 (0.1) 20.5 Amounts reclassified from accumulated other comprehensive loss (1.7) (29.8) 4.0 — (27.5) Deferred income tax benefit 0.6 5.9 — — 6.5 March 31, 2023 $ (215.0) $ 6.6 $ (52.6) $ 5.6 $ (255.4) Other comprehensive (loss) income before reclassifications (11.3) 33.5 2.1 0.2 24.5 Amounts reclassified from accumulated other comprehensive loss (1.8) (25.2) 3.8 — (23.2) Deferred income tax benefit (expense) 1.6 (3.0) — — (1.4) June 30, 2023 $ (226.5) $ 11.9 $ (46.7) $ 5.8 $ (255.5) Other comprehensive (loss) income before reclassifications (20.7) 38.6 9.4 — 27.3 Amounts reclassified from accumulated other comprehensive loss (1.7) (14.1) 1.2 — (14.6) Deferred income tax (expense) benefit (1.0) (6.3) — — (7.3) September 30, 2023 $ (249.9) $ 30.1 $ (36.1) $ 5.8 $ (250.1)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss	The following table provides information about amounts reclassified from Accumulated Other Comprehensive Loss (in millions): Three Months Ended Nine Months Ended Affected Line on Consolidated Condensed Details about Accumulated Other Comprehensive Loss Components 2024 2023 2024 2023 Foreign currency translation adjustments $ 1.6 $ 1.7 $ 5.1 $ 5.2 Other non-operating income, net (0.5) (0.5) (1.3) (1.3) Provision for income taxes $ 1.1 $ 1.2 $ 3.8 $ 3.9 Net of tax Gain (Loss) on hedges $ 17.0 $ 9.3 $ 31.9 $ 53.0 Cost of sales — 4.8 4.8 16.1 Other non-operating income, net 17.0 14.1 36.7 69.1 Total before tax (4.2) (2.9) (8.9) (14.8) Provision for income taxes $ 12.8 $ 11.2 $ 27.8 $ 54.3 Net of tax Loss on available-for-sale investments $ 0.8 $ (1.2) $ (2.7) $ (9.0) Interest income, net (0.2) 0.4 0.7 2.3 Provision for income taxes $ 0.6 $ (0.8) $ (2.0) $ (6.7) Net of tax

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The table below presents the computation of basic and diluted earnings per share (in millions, except for per share information): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Income for Earnings Per Share Calculations: Income from continuing operations, net of tax $ 362.1 $ 334.9 $ 1,051.0 $ 886.9 Net loss attributable to noncontrolling interests (1.4) (1.2) (3.6) (2.8) Income from continuing operations attributable to Edwards Lifesciences Corporation 363.5 336.1 1,054.6 889.7 Income from discontinued operations 2,707.3 48.8 2,734.4 142.8 Net income attributable to Edwards Lifesciences Corporation $ 3,070.8 $ 384.9 $ 3,789.0 $ 1,032.5 Weighted Average Shares: Basic weighted-average shares outstanding 597.2 607.0 600.3 607.2 Dilutive effect of stock plans 0.9 2.5 1.9 3.0 Dilutive weighted-average shares outstanding 598.1 609.5 602.2 610.2 Earnings per Share: Basic: Continuing operations $ 0.61 $ 0.55 $ 1.76 $ 1.47 Discontinued operations 4.53 0.08 4.55 0.23 Basic earnings per share $ 5.14 $ 0.63 $ 6.31 $ 1.70 Diluted: Continuing operations $ 0.61 $ 0.55 $ 1.75 $ 1.46 Discontinued operations 4.52 0.08 4.54 0.23 Diluted earnings per share $ 5.13 $ 0.63 $ 6.29 $ 1.69

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments and Reconciliation of Segment Net Sales and Pre-Tax Income	The table below presents information about Edwards Lifesciences' reportable segments (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Segment Net Sales United States $ 804.6 $ 735.9 $ 2,393.1 $ 2,203.6 Europe 315.1 282.7 968.4 878.0 Japan 85.8 84.9 265.6 251.5 Rest of World 153.2 136.1 440.9 399.0 Total segment net sales $ 1,358.7 $ 1,239.6 $ 4,068.0 $ 3,732.1 Segment Operating Income United States $ 551.2 $ 498.4 $ 1,619.2 $ 1,510.2 Europe 177.3 156.1 540.3 489.2 Japan 54.4 53.7 159.8 158.5 Rest of World 67.2 59.5 184.7 170.6 Total segment operating income $ 850.1 $ 767.7 $ 2,504.0 $ 2,328.5 The table below presents reconciliations of segment net sales to consolidated net sales and segment operating income to consolidated pre-tax income (in millions): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Sales Reconciliation Segment net sales $ 1,358.7 $ 1,239.6 $ 4,068.0 $ 3,732.1 Foreign currency (4.3) 3.8 (14.3) 11.5 Consolidated net sales $ 1,354.4 $ 1,243.4 $ 4,053.7 $ 3,743.6 Pre-tax Income Reconciliation Segment operating income $ 850.1 $ 767.7 $ 2,504.0 $ 2,328.5 Unallocated amounts: Corporate items (468.7) (410.1) (1,396.5) (1,259.4) Restructuring expenses (Note 4) (32.9) — (32.9) — Intellectual property agreement and certain litigation expenses (10.8) (2.2) (27.8) (193.6) Change in fair value of contingent consideration liabilities — — — 26.2 Foreign currency 12.9 10.5 19.3 60.4 Consolidated operating income 350.6 365.9 1,066.1 962.1 Non-operating income 52.2 21.7 91.9 43.1 Consolidated pre-tax income $ 402.8 $ 387.6 $ 1,158.0 $ 1,005.2
Schedule of Enterprise-Wide Information	The following enterprise-wide information is based on actual foreign exchange rates used in the Company's consolidated condensed financial statements. Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net Sales by Geographic Region United States $ 804.6 $ 735.9 $ 2,393.1 $ 2,203.6 Europe 319.8 286.5 978.0 877.7 Japan 81.4 85.8 253.9 266.4 Rest of World 148.6 135.2 428.7 395.9 $ 1,354.4 $ 1,243.4 $ 4,053.7 $ 3,743.6 Net Sales by Major Product Group Transcatheter Aortic Valve Replacement $ 1,023.3 $ 960.9 $ 3,069.8 $ 2,900.4 Transcatheter Mitral and Tricuspid Therapies 91.1 52.4 247.0 141.6 Surgical Structural Heart 240.0 230.1 736.9 701.6 $ 1,354.4 $ 1,243.4 $ 4,053.7 $ 3,743.6

OTHER CONSOLIDATED FINANCIAL _3

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Schedule of Components of Selected Captions in the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventories
Raw materials	$ 248.8	$ 196.3
Work in process	244.4	195.8
Finished products	611	511.4
Total inventories	1,104.2	903.5
Finished products inventories held on consignment	$ 187.8	$ 164.6

OTHER CONSOLIDATED FINANCIAL _4

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Schedule of Accrued and Other Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Other assets
Tax receivable (Note 16)	$ 293.7	$ 0
Notes and other receivables	132.9	155.1
Acquisition options	117.5	161.3
Long-term prepaid royalties	103.7	109.9
Fair value of derivatives	21.8	23.4
Other long-term assets	13.9	13.5
Other assets, noncurrent	683.5	463.2
Accrued and other liabilities
Employee compensation and withholdings	312.1	316.4
Taxes payable (Note 5)	715.1	52.7
Property, payroll, and other taxes	83.7	53.8
Research and development accruals	79	71.6
Accrued rebates	140	123.5
Fair value of derivatives	24.3	15.2
Accrued marketing expenses	14.5	13.7
Legal and insurance	29.5	28.9
Litigation settlement	75.1	69.1
Accrued relocation costs	16.2	16.9
Accrued professional services	62.2	8.5
Accrued realignment reserves	39.6	6.4
Unfavorable contract liability	66	0
Other accrued liabilities	88	79.7
Total accrued and other liabilities	$ 1,745.3	$ 856.4

OTHER CONSOLIDATED FINANCIAL _5

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid during the year for:
Income taxes	$ 633.8	$ 219.1
Amounts included in the measurement of operating lease liabilities	21	19.1
Non-cash investing and financing transactions:
Right-of-use assets obtained in exchange for new lease liabilities	38.9	19.9
Capital expenditures accruals	22.9	32.5
Income taxes	633.8	219.1
Discontinued Operations
Cash paid during the year for:
Income taxes	29.7	22.7
Non-cash investing and financing transactions:
Income taxes	$ 29.7	$ 22.7

OTHER CONSOLIDATED FINANCIAL _6

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	$ 3,676.4	$ 1,132.3
Total cash, cash equivalents, and restricted cash	3,683.4	1,148	$ 1,413.9	$ 772.6
Continuing Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	3,676.4	1,132.3
Restricted cash included in other current assets	3.2	3.3
Restricted cash included in other assets	0.9	0.7
Total cash, cash equivalents, and restricted cash	3,680.5	1,136.3
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	2.9	11.7
Total cash, cash equivalents, and restricted cash	$ 2.9	$ 11.7

INTELLECTUAL PROPERTY AGREEME_2

INTELLECTUAL PROPERTY AGREEMENT AND CERTAIN LITIGATION EXPENSES (Details) - USD ($) $ in Millions		1 Months Ended		3 Months Ended		9 Months Ended
	Apr. 12, 2023	Apr. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Loss Contingencies [Line Items]
Intellectual property agreement term	15 years
Intellectual property litigation expense				$ 10.8	$ 2.2	$ 27.8	$ 193.6
Medtronic Inc
Loss Contingencies [Line Items]
Payments for legal settlements	$ 300
Intellectual property litigation expense		$ 139	$ 37
Prepaid royalty asset		$ 124

RESTRUCTURING EXPENSES (Details

RESTRUCTURING EXPENSES (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) employee	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 32.9	$ 32.9	$ 0	$ 32.9	$ 0
Restructuring and related cost, expected number of positions eliminated | employee	360
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 30.6	$ 30.6		$ 30.6

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Sep. 03, 2024	Jun. 03, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax			$ 2,707.3	$ 48.8	$ 2,734.4	$ 142.8
Becton, Dickinson and Company
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable			24.6		24.6
Discontinued Operations, Held-for-Sale | Critical Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration		$ 4,200
Income from discontinued operations, net of tax	$ 3,300
Transition services agreement period		36 months
Unfavorable contract liability		$ 115.1
Term for continued services	36 months
Amortization of unfavorable contract liability			$ 7.6		$ 7.6

DISCONTINUED OPERATIONS - Incom

DISCONTINUED OPERATIONS - Income from Discontinued Operations (Details) - Discontinued Operations, Held-for-Sale - Critical Care - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 177.2	$ 237.5	$ 708.4	$ 727.1
Cost of sales	65.4	99.8	265.1	295.5
Gross profit	111.8	137.7	443.3	431.6
Selling, general, and administrative expenses	40.9	57.7	163.2	178.7
Research and development expenses	21.4	27.5	81.3	81
Separation costs	81.5	0	202.5	0
Operating (loss) income, net	(32)	52.5	(3.7)	171.9
Other non-operating (income) expense, net	(3,338.9)	0.8	(3,337.5)	0.7
Income from discontinued operations before provision for income taxes	3,306.9	51.7	3,333.8	171.2
Provision for income taxes from discontinued operations	599.6	2.9	599.4	28.4
Net income from discontinued operations	$ 2,707.3	$ 48.8	$ 2,734.4	$ 142.8

DISCONTINUED OPERATIONS - Asset

DISCONTINUED OPERATIONS - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets of discontinued operations	$ 20	$ 317.6
Total non-current assets of discontinued operations	10.5	311.1
Total current liabilities of discontinued operations	1.8	129.5
Total non-current liabilities of discontinued operations	0	25.1
Discontinued Operations, Held-for-Sale | Critical Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	2.9	11.7
Accounts receivable, net of allowances	0	3.6
Other receivables	0	5.2
Inventories	17.1	264.7
Prepaid expenses	0	18
Other current assets	0	14.4
Total current assets of discontinued operations	20	317.6
Property, plant, and equipment, net	3.1	158.4
Operating lease right-of-use assets	0	9.6
Goodwill	7.4	108.4
Other intangible assets, net	0	29
Deferred income taxes	0	5.2
Other assets	0	0.5
Total non-current assets of discontinued operations	10.5	311.1
Accounts payable	0	14.8
Accrued and other liabilities	1.8	112.7
Operating lease liabilities	0	2
Total current liabilities of discontinued operations	1.8	129.5
Operating lease liabilities	0	7.8
Uncertain tax positions	0	4.3
Other liabilities	0	13
Total non-current liabilities of discontinued operations	$ 0	$ 25.1

DISCONTINUED OPERATIONS - Conso

DISCONTINUED OPERATIONS - Consolidated Condensed Statements of Cash Flows (Details) - Discontinued Operations, Held-for-Sale - Critical Care - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 12.1	$ 16.2
Stock-based compensation	16.7	11.6
Inventory write off	17	13.2
Capital expenditures	$ 16.4	$ 21

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments in Debt Securities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Held-to-maturity
Fair Value	$ 50.5
Available-for-sale
Amortized Cost	900.9	$ 926.1
Gross Unrealized Gains	0.2	0.1
Gross Unrealized Losses	(6.9)	(27.5)
Fair Value	894.2	898.7
Bank time deposits
Held-to-maturity
Amortized Cost	50.5	64.5
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	50.5	64.5
Available-for-sale
Amortized Cost	17.6	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	17.6	0
Commercial paper
Available-for-sale
Amortized Cost	112.9	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	112.9	0
U.S. government and agency securities
Available-for-sale
Amortized Cost	185.2	72.7
Gross Unrealized Gains	0.1	0.1
Gross Unrealized Losses	(1.2)	(2.8)
Fair Value	184.1	70
Asset-backed securities
Available-for-sale
Amortized Cost	80.2	192.1
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1.6)	(7.8)
Fair Value	78.6	184.3
Corporate debt securities
Available-for-sale
Amortized Cost	502.2	658.5
Gross Unrealized Gains	0.1	0
Gross Unrealized Losses	(4)	(16.7)
Fair Value	498.3	641.8
Municipal securities
Available-for-sale
Amortized Cost	2.8	2.8
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(0.1)	(0.2)
Fair Value	$ 2.7	$ 2.6

INVESTMENTS - Schedule of Cost

INVESTMENTS - Schedule of Cost and Fair Value of Investments in Debt Securities, by Contractual Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Due in 1 year or less	$ 50.5
Due after 1 year through 5 years	0
Instruments not due at a single maturity date	0
Amortized Cost	50.5
Fair Value
Due in 1 year or less	50.5
Due after 1 year through 5 years	0
Instruments not due at a single maturity date	0
Fair Value	50.5
Amortized Cost
Due in 1 year or less	721.1
Due after 1 year through 5 years	81.4
Instruments not due at a single maturity date	98.4
Amortized Cost	900.9	$ 926.1
Fair Value
Due in 1 year or less	719.2
Due after 1 year through 5 years	79.2
Instruments not due at a single maturity date	95.8
Fair Value	$ 894.2	$ 898.7

INVESTMENTS - Schedule of Gross

INVESTMENTS - Schedule of Gross Unrealized Losses and Fair Values for Investments in Unrealized Loss Position (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	$ 3.6	$ 35.2
Gross unrealized losses, less than 12 months	(0.1)	(1.9)
Fair value, 12 months or greater	295	843.7
Gross unrealized losses, 12 months or greater	(6.8)	(25.6)
Fair value, total	298.6	878.9
Gross unrealized losses, total	(6.9)	(27.5)
U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	0	0
Gross unrealized losses, less than 12 months	0	0
Fair value, 12 months or greater	34	67.1
Gross unrealized losses, 12 months or greater	(1.2)	(2.8)
Fair value, total	34	67.1
Gross unrealized losses, total	(1.2)	(2.8)
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	3.6	10.2
Gross unrealized losses, less than 12 months	(0.1)	(1.8)
Fair value, 12 months or greater	65.3	172.7
Gross unrealized losses, 12 months or greater	(1.5)	(6)
Fair value, total	68.9	182.9
Gross unrealized losses, total	(1.6)	(7.8)
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	0	25
Gross unrealized losses, less than 12 months	0	(0.1)
Fair value, 12 months or greater	193	601.3
Gross unrealized losses, 12 months or greater	(4)	(16.6)
Fair value, total	193	626.3
Gross unrealized losses, total	(4)	(16.7)
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	0	0
Gross unrealized losses, less than 12 months	0	0
Fair value, 12 months or greater	2.7	2.6
Gross unrealized losses, 12 months or greater	(0.1)	(0.2)
Fair value, total	2.7	2.6
Gross unrealized losses, total	$ (0.1)	$ (0.2)

INVESTMENTS - Schedule of Inv_2

INVESTMENTS - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Equity method investments
Carrying value of equity method investments	$ 32.3	$ 33.6
Equity securities
Carrying value of marketable equity securities	7.4	0
Carrying value of non-marketable equity securities	104.9	87.6
Total investments in unconsolidated entities	$ 144.6	$ 121.2

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Upward price adjustments	$ 0.5
Downward price adjustment, annual amount	2.4
Increase in non-marketable equity securities due to observable price changes	9.3
Decrease in non-marketable equity securities due to observable price changes	$ 5.5
Limited Liability Company
Debt and Equity Securities, FV-NI [Line Items]
Investments taken period	7 years
New Markets Tax Credit | Limited Liability Company
Debt and Equity Securities, FV-NI [Line Items]
Investment percentage (in percent)	39%

INVESTMENTS IN VARIABLE INTER_2

INVESTMENTS IN VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	1 Months Ended		9 Months Ended		12 Months Ended	19 Months Ended
	Oct. 31, 2024	Jun. 30, 2022	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2019	Sep. 30, 2024	Dec. 31, 2023	Mar. 31, 2023	Apr. 30, 2021
Variable Interest Entity [Line Items]
Assets			$ 12,971.2			$ 12,971.2	$ 9,363.2
Liabilities			3,359.8			3,359.8	2,643.8
Payment for acquisition options			16.2	$ 15
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets			258.1			258.1	272.1
Liabilities			26.7			26.7	31.5
Variable Interest Entity, Not Primary Beneficiary | Subsequent Event
Variable Interest Entity [Line Items]
Remaining financing receivable	$ 5
Variable Interest Entity, Not Primary Beneficiary | Medical Device Company, April 2021 Investment
Variable Interest Entity [Line Items]
Maximum secured promissory note									$ 45
Investee drew additional amount			30			30	30
Carrying value of non-marketable equity securities			42.8			42.8	39.3
Investment option to acquire			20.9			20.9	13.1
Maximum additional required investment			3			3
Maximum additional option to acquire investment			6.6			6.6
Variable Interest Entity, Not Primary Beneficiary | Medical Device Company, March 2023 Investment
Variable Interest Entity [Line Items]
Payment for acquisition options						30
Carrying value of non-marketable equity securities			3.5			3.5	$ 3.3
Option to acquire investment amount								$ 45
Variable Interest Entity, Not Primary Beneficiary | Medical Device Company, March 2023 Investment | Convertible Promissory Note
Variable Interest Entity [Line Items]
Investee drew additional amount								$ 5
Variable Interest Entity, Not Primary Beneficiary | Medical Device Company
Variable Interest Entity [Line Items]
Loans receivables, maximum lending amount		$ 47.5
Financing receivable			$ 42.5			$ 42.5
Payment for acquisition options					$ 35

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ in Millions				3 Months Ended	9 Months Ended
	Aug. 19, 2024	Aug. 18, 2024	Jul. 22, 2024	Sep. 30, 2024	Sep. 30, 2024
Endotronix, Inc
Business Acquisition [Line Items]
Cash consideration paid at closing	$ 650.3	$ 60
Fair value of previously held equity interest	$ 94.6	$ 10
Percentage of previously held interest		7%
Equity interest in acquire, excluding initial acquisition, percentage	93%
Step acquisition, equity interest in acquire, remeasurement gain				$ 24.6
Total purchase price, net of cash acquired	$ 798.8
Payments to acquire businesses	649.1
Less: cash acquired	(1.2)
Settlement of pre-existing relationships	53.1
Contingent consideration liabilities	2
Business combination, escrow deposit				$ 35	$ 35
Acquisition-related costs					5.6
In-process research and development, expected costs	$ 47.1
Endotronix, Inc | Developed technology | Discount Rate
Business Acquisition [Line Items]
Measurement input	15.50%
Endotronix, Inc | In-process research and development | Discount Rate
Business Acquisition [Line Items]
Measurement input	18%
JC Medical, Inc
Business Acquisition [Line Items]
Cash consideration paid at closing			$ 114.8
Total purchase price, net of cash acquired			116.3
Less: cash acquired			(0.3)
Contingent consideration liabilities			1.8
Business combination, escrow deposit			12
Acquisition-related costs					$ 1.6
In-process research and development, expected costs	$ 55.8
Additional contingent consideration			$ 200
Contingent consideration liability, term			12 years
Escrow deposit, holding period			15 months
JC Medical, Inc | In-process research and development | Discount Rate
Business Acquisition [Line Items]
Measurement input			15%

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Aug. 19, 2024	Aug. 18, 2024	Jul. 22, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill				$ 1,605.3	$ 1,145.1
Endotronix, Inc
Business Acquisition [Line Items]
Cash consideration paid at closing	$ 650.3	$ 60
Settlement of pre-existing relationships	53.1
Fair value of previously held equity interest	94.6	$ 10
Fair value of contingent consideration	2
Total purchase price	800
Less: cash acquired	(1.2)
Total purchase price, net of cash acquired	798.8
Current assets	7.7
Property and equipment, net	12.6
Goodwill	412
Operating lease right-of-use assets	9.9
Other assets	0.7
Liabilities assumed	(26.3)
Deferred tax liabilities	(70.6)
Net assets acquired	800
Endotronix, Inc | In-process research and development
Business Acquisition [Line Items]
Intangibles	69
Endotronix, Inc | Developed technology
Business Acquisition [Line Items]
Intangibles	$ 385
JC Medical, Inc
Business Acquisition [Line Items]
Cash consideration paid at closing			$ 114.8
Fair value of contingent consideration			1.8
Total purchase price			116.6
Less: cash acquired			(0.3)
Total purchase price, net of cash acquired			116.3
Current assets			0.3
Property and equipment, net			0.3
Goodwill			46.9
Current liabilities assumed			(1)
Deferred tax liabilities			(16.5)
Net assets acquired			116.6
JC Medical, Inc | In-process research and development
Business Acquisition [Line Items]
Intangibles			$ 86.6

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Discount Rate | Minimum
Financial instruments
Contingent consideration liability measurement input	0
Discount Rate | Maximum
Financial instruments
Contingent consideration liability measurement input	0.117
Discount Rate | Weighted Average
Financial instruments
Contingent consideration liability measurement input	0.056
Probability of Milestone Achievement | Minimum
Financial instruments
Contingent consideration liability measurement input	0.60
Probability of Milestone Achievement | Maximum
Financial instruments
Contingent consideration liability measurement input	1
Probability of Milestone Achievement | Weighted Average
Financial instruments
Contingent consideration liability measurement input	0.809
Revenue Volatility
Financial instruments
Contingent consideration liability measurement input	0.27
Level 2
Financial instruments
Notes payable fair value disclosure	$ 600

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Available-for-sale investments:	$ 894.2	$ 898.7
Equity investments in unconsolidated entities	7.4	0
Bank time deposits
Assets
Available-for-sale investments:	17.6	0
Corporate debt securities
Assets
Available-for-sale investments:	498.3	641.8
Asset-backed securities
Assets
Available-for-sale investments:	78.6	184.3
United States government and agency securities
Assets
Available-for-sale investments:	184.1	70
Commercial paper
Assets
Available-for-sale investments:	112.9	0
Municipal securities
Assets
Available-for-sale investments:	2.7	2.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis
Assets
Cash equivalents	3,140.1	579.2
Equity investments in unconsolidated entities	7.5
Investments held for deferred compensation plans	143.9	125.8
Derivatives	27.6	39.5
Assets	4,213.3	1,643.2
Liabilities
Derivatives	24.3	15.2
Contingent consideration liabilities	3.8
Other	5	10.3
Liabilities	33.1	25.5
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Bank time deposits
Assets
Available-for-sale investments:	17.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Corporate debt securities
Assets
Available-for-sale investments:	498.3	641.8
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Asset-backed securities
Assets
Available-for-sale investments:	78.6	184.3
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | United States government and agency securities
Assets
Available-for-sale investments:	184.1	70
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Commercial paper
Assets
Available-for-sale investments:	112.9
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Municipal securities
Assets
Available-for-sale investments:	2.7	2.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1
Assets
Cash equivalents	2,287.8	579.2
Equity investments in unconsolidated entities	7.5
Investments held for deferred compensation plans	143.9	125.8
Derivatives	0	0
Assets	2,488.5	705
Liabilities
Derivatives	0	0
Contingent consideration liabilities	0
Other	0	0
Liabilities	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Bank time deposits
Assets
Available-for-sale investments:	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Corporate debt securities
Assets
Available-for-sale investments:	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Asset-backed securities
Assets
Available-for-sale investments:	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | United States government and agency securities
Assets
Available-for-sale investments:	49.3	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Commercial paper
Assets
Available-for-sale investments:	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Municipal securities
Assets
Available-for-sale investments:	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2
Assets
Cash equivalents	852.3	0
Equity investments in unconsolidated entities	0
Investments held for deferred compensation plans	0	0
Derivatives	27.6	39.5
Assets	1,724.8	938.2
Liabilities
Derivatives	24.3	15.2
Contingent consideration liabilities	0
Other	0	0
Liabilities	24.3	15.2
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Bank time deposits
Assets
Available-for-sale investments:	17.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Corporate debt securities
Assets
Available-for-sale investments:	498.3	641.8
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Asset-backed securities
Assets
Available-for-sale investments:	78.6	184.3
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | United States government and agency securities
Assets
Available-for-sale investments:	134.8	70
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Commercial paper
Assets
Available-for-sale investments:	112.9
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Municipal securities
Assets
Available-for-sale investments:	2.7	2.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3
Assets
Cash equivalents	0	0
Equity investments in unconsolidated entities	0
Investments held for deferred compensation plans	0	0
Derivatives	0	0
Assets	0	0
Liabilities
Derivatives	0	0
Contingent consideration liabilities	3.8
Other	5	10.3
Liabilities	8.8	10.3
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Bank time deposits
Assets
Available-for-sale investments:	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Corporate debt securities
Assets
Available-for-sale investments:	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Asset-backed securities
Assets
Available-for-sale investments:	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | United States government and agency securities
Assets
Available-for-sale investments:	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Commercial paper
Assets
Available-for-sale investments:	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Municipal securities
Assets
Available-for-sale investments:	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Changes in Fair Value of Contingent Consideration and Other Liability (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Change in fair value of contingent consideration liabilities (Note 9)	Change in fair value of contingent consideration liabilities (Note 9)
Additions	$ 3.8
Payments	0
Fair Value on a Recurring Basis | Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value beginning balance	10.3	$ 40.2
Changes in fair value	(5.3)	(29.9)
Fair value ending balance	8.8	10.3
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Additions	3.8
Payments	0
Contingent Consideration | Fair Value on a Recurring Basis | Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value beginning balance	0	26.2
Changes in fair value	0	(26.2)
Fair value ending balance	3.8	0
Other
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Additions	0
Payments	0
Other | Fair Value on a Recurring Basis | Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value beginning balance	10.3	14
Changes in fair value	(5.3)	(3.7)
Fair value ending balance	$ 5	$ 10.3

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Financial Instruments Used to Manage Currency Exchange Rate Risk and Interest Rate Risk (Details) - Derivatives designated as hedging instruments - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Foreign currency forward exchange contracts
Derivative Financial Instruments
Notional Amount	$ 2,219.8	$ 1,460.3
Cross-currency swap contracts
Derivative Financial Instruments
Notional Amount	$ 300	$ 300

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Derivative Financial Instruments
Changes due to currency rate movements and expenses expected to occur, maximum term	1 year
Cash flow gain to be reclassified in the next twelve months	$ 4.1
Derivatives designated as hedging instruments | Cross-currency swap contracts
Derivative Financial Instruments
Derivative liability, fair value	300		$ 300
Net investment hedges | Derivatives designated as hedging instruments | Cross-currency swap contracts
Derivative Financial Instruments
Derivative liability, fair value	$ 300	€ 257.2

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Location and Fair Value Amounts of Derivative Instruments Reported in Consolidated Condensed Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets, Other assets (Note 2)	Other current assets, Other assets (Note 2)
Liabilities
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued and other liabilities (Note 2)	Accrued and other liabilities (Note 2)
Foreign currency contracts
Assets
Fair value of derivative assets	$ 5.8	$ 16.1
Liabilities
Fair value of derivative liabilities	24.3	15.2
Cross-currency swap contracts
Assets
Fair value of derivative assets	21.8	23.4
Derivatives designated as hedging instruments | Foreign currency contracts
Assets
Fair value of derivative assets	5.8	16.1
Liabilities
Fair value of derivative liabilities	21.2	15.2
Derivatives designated as hedging instruments | Cross-currency swap contracts
Assets
Fair value of derivative assets	21.8	23.4
Derivatives not designated as hedging instruments | Foreign currency contracts
Liabilities
Fair value of derivative liabilities	$ 3.1	$ 0

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effect of Master-Netting Agreements and Rights of Offset, Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Foreign currency contracts
Derivative assets
Gross Amounts	$ 5.8	$ 16.1
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts Presented in the Consolidated Balance Sheet	5.8	16.1
Gross Amounts Not Offset in the Consolidated Balance Sheet
Financial Instruments	(3.8)	(9.4)
Cash Collateral Received	0	0
Net Amount	2	6.7
Derivative liabilities
Gross Amounts	24.3	15.2
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts Presented in the Consolidated Balance Sheet	24.3	15.2
Gross Amounts Not Offset in the Consolidated Balance Sheet
Financial Instruments	(3.8)	(9.4)
Cash Collateral Received	0	0
Net Amount	20.5	5.8
Cross-currency swap contracts
Derivative assets
Gross Amounts	21.8	23.4
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts Presented in the Consolidated Balance Sheet	21.8	23.4
Gross Amounts Not Offset in the Consolidated Balance Sheet
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	$ 21.8	$ 23.4

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effect of Derivative Instruments on Consolidated Condensed Statements of Operations and Consolidated Condensed Statements of Comprehensive Income (Details) - Derivatives designated as hedging instruments - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash flow hedges | Foreign currency contracts
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	$ (40.9)	$ 33.5	$ 17	$ 60.4
Net investment hedges | Cross-currency swap contracts
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	$ (8.7)	$ 3.8	$ (1.6)	$ (5.2)

DERIVATIVE INSTRUMENTS AND HE_8

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effects of Hedge (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss)
Cost of sales	$ (262.9)	$ (250.6)	$ (825.3)	$ (727.4)
Interest income, net	24.3	15.1	56.3	32.8
Other non-operating income, net	27.9	6.6	35.6	10.3
Foreign currency contracts | Cost of sales
Derivative Instruments, Gain (Loss)
Hedged items	0	0	0	0
Amount excluded from effectiveness testing (amortized)	0	0	0	0
Foreign currency contracts | Cost of sales | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Derivatives designated as hedging instruments	0	0	0	0
Amount of gain (loss) reclassified from accumulated other comprehensive loss into income	17	9.3	31.9	53
Foreign currency contracts | Cost of sales | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Foreign currency contracts	0	0	0	0
Foreign currency contracts | Interest income, net
Derivative Instruments, Gain (Loss)
Hedged items	0	0	0	0
Amount excluded from effectiveness testing (amortized)	0	0	0	0
Foreign currency contracts | Interest income, net | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Derivatives designated as hedging instruments	0	0	0	0
Amount of gain (loss) reclassified from accumulated other comprehensive loss into income	0	0	0	0
Foreign currency contracts | Interest income, net | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Foreign currency contracts	0	0	0	0
Foreign currency contracts | Other non-operating income, net
Derivative Instruments, Gain (Loss)
Hedged items	0	(3.6)	(4)	(12.5)
Amount excluded from effectiveness testing (amortized)	0	1.2	0.8	3.6
Foreign currency contracts | Other non-operating income, net | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Derivatives designated as hedging instruments	0	3.6	4	12.5
Amount of gain (loss) reclassified from accumulated other comprehensive loss into income	0	0	0	0
Foreign currency contracts | Other non-operating income, net | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Foreign currency contracts	(29.6)	14.6	3.7	19.1
Cross-currency swap contracts | Cost of sales | Net investment hedges | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount excluded from effectiveness testing	0	0	0	0
Cross-currency swap contracts | Interest income, net | Net investment hedges | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount excluded from effectiveness testing	1.6	1.7	5.1	5.2
Cross-currency swap contracts | Other non-operating income, net | Net investment hedges | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount excluded from effectiveness testing	$ 0	$ 0	$ 0	$ 0

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allocation of stock-based compensation expense
Total stock-based compensation expense	$ 35.2	$ 29.1	$ 111.5	$ 97.3
Income tax benefit	(6)	(4.7)	(17.5)	(14.5)
Total stock-based compensation expense, net of tax	29.2	24.4	94	82.8
Cost of sales
Allocation of stock-based compensation expense
Total stock-based compensation expense	6.1	4.7	20.8	16.3
Selling, general, and administrative expenses
Allocation of stock-based compensation expense
Total stock-based compensation expense	20.4	17.2	62.4	57.3
Research and development expenses
Allocation of stock-based compensation expense
Total stock-based compensation expense	$ 8.7	$ 7.2	$ 28.3	$ 23.7

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		9 Months Ended
	May 07, 2024	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total remaining unrecognized compensation cost		$ 289.7
Unrecognized compensation cost, recognition period		33 months
Options granted (in shares)		1.5
Weighted average exercise price of options granted (in dollars per share)		$ 85.94
Performance period (years)		3 years
Common Stock | Long Term Stock Incentive Compensation Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	6.9
New total shares authorized (in shares)	334.5
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares)		1.9
Weighted average grant date fair value (in dollars per share)		$ 85.09
Restricted Stock Units (RSUs) | Long Term Stock Incentive Compensation Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	2
New total shares authorized (in shares)	35.6
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares)		0.1
Weighted average grant date fair value (in dollars per share)		$ 97.66
Risk-free interest rate		4.50%	3.60%
Expected volatility		32.40%	32.60%
Market Based Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to be granted as percentage of target (as a percent)		0%
Market Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to be granted as percentage of target (as a percent)		175%

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Weighted-Average Assumptions for Options and ESPP Subscriptions Granted (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.20%	4.30%	4.50%	3.40%
Expected dividend yield	0%	0%	0%	0%
Expected volatility	31%	32.70%	30.90%	32.80%
Expected term (years)	5 years 6 months	5 years 2 months 12 days	5 years 3 months 18 days	5 years 1 month 6 days
Fair value, per option/share (in dollars per share)	$ 32.15	$ 31.16	$ 31.30	$ 31.02
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	5.30%	5.30%	5.20%	4.60%
Expected dividend yield	0%	0%	0%	0%
Expected volatility	29.50%	34.80%	33.50%	31.50%
Expected term (years)	7 months 6 days	7 months 6 days	7 months 6 days	7 months 6 days
Fair value, per option/share (in dollars per share)	$ 16.51	$ 18.53	$ 25.01	$ 19.03

ACCELERATED SHARE REPURCHASE (D

ACCELERATED SHARE REPURCHASE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended
	Aug. 31, 2024	May 31, 2024	Apr. 30, 2024	Mar. 31, 2023	Feb. 28, 2023
Initial Delivery of Shares Settled February 2023
Class of Stock [Line Items]
Amount Paid					$ 200
Shares Received (in shares)					2
Initial delivery, price per share (in dollars per share)					$ 80.44
Value of Shares as % of Contract Value					80%
Initial Delivery of Shares Settled April 2024
Class of Stock [Line Items]
Amount Paid	$ 500		$ 150
Shares Received (in shares)	5.8		1.4
Initial delivery, price per share (in dollars per share)	$ 68.93		$ 85.95
Value of Shares as % of Contract Value	80%		80%
February 2023 Stock Repurchase Program Shares Sold in March 2023
Class of Stock [Line Items]
Shares Received (in shares)				2.5
Final settlement per share price (in dollars per share)				$ 79.28
April 2024 Stock Repurchase Program Shares Sold in May 2024
Class of Stock [Line Items]
Shares Received (in shares)		1.7
Final settlement per share price (in dollars per share)		$ 86.72

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) lawsuit
Commitments and Contingencies Disclosure [Abstract]
Number of lawsuits that if settled could have a material adverse impact on net income or cash flows | lawsuit	1
Threshold of disclosing material environmental legal proceedings | $	$ 1

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Activity for Each Component of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax
Beginning balance			$ 6,650
Other comprehensive (loss) income before reclassifications	$ (30.4)	$ 29.3	27.5	$ 27.3	$ 24.5	$ 20.5
Amounts reclassified from accumulated other comprehensive loss	(19.4)	(13.3)	(6.4)	(14.6)	(23.2)	(27.5)
Deferred income tax expense (benefit)	17.5	(2.9)	(11.6)	(7.3)	(1.4)	6.5
Ending balance	9,545.6
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax
Beginning balance	(220.2)	(233.3)	(242.8)	(255.5)	(255.4)	(254.9)
Ending balance	(252.5)	(220.2)	(233.3)	(250.1)	(255.5)	(255.4)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(239.6)	(240.6)	(214.5)	(226.5)	(215)	(218.8)
Other comprehensive (loss) income before reclassifications	3.8	3.4	(23.3)	(20.7)	(11.3)	4.9
Amounts reclassified from accumulated other comprehensive loss	(1.6)	(1.8)	(1.7)	(1.7)	(1.8)	(1.7)
Deferred income tax expense (benefit)	2.1	(0.6)	(1.1)	(1)	1.6	0.6
Ending balance	(235.3)	(239.6)	(240.6)	(249.9)	(226.5)	(215)
Unrealized Gain (Loss) on Hedges
AOCI Attributable to Parent, Net of Tax
Beginning balance	34.5	27.6	0.7	11.9	6.6	23.8
Other comprehensive (loss) income before reclassifications	(41)	21.8	43.4	38.6	33.5	6.7
Amounts reclassified from accumulated other comprehensive loss	(17)	(12.5)	(7.2)	(14.1)	(25.2)	(29.8)
Deferred income tax expense (benefit)	15.3	(2.4)	(9.3)	(6.3)	(3)	5.9
Ending balance	(8.2)	34.5	27.6	30.1	11.9	6.6
Unrealized Loss on Available-for-sale Investments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(11.1)	(16.4)	(24.8)	(46.7)	(52.6)	(65.6)
Other comprehensive (loss) income before reclassifications	6.8	4.2	7	9.4	2.1	9
Amounts reclassified from accumulated other comprehensive loss	(0.8)	1	2.5	1.2	3.8	4
Deferred income tax expense (benefit)	0.1	0.1	(1.1)	0	0	0
Ending balance	(5)	(11.1)	(16.4)	(36.1)	(46.7)	(52.6)
Unrealized Pension Credits (Costs)
AOCI Attributable to Parent, Net of Tax
Beginning balance	(4)	(3.9)	(4.2)	5.8	5.6	5.7
Other comprehensive (loss) income before reclassifications	0	(0.1)	0.4	0	0.2	(0.1)
Amounts reclassified from accumulated other comprehensive loss		0	0	0	0	0
Deferred income tax expense (benefit)	0	0	(0.1)	0	0	0
Ending balance	$ (4)	$ (4)	$ (3.9)	$ 5.8	$ 5.8	$ 5.6

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Affected Line on Consolidated Condensed Statements of Operations
Other non-operating income, net	$ 27.9	$ 6.6	$ 35.6	$ 10.3
Provision for income taxes	(40.7)	(52.7)	(107)	(118.3)
Cost of sales	(262.9)	(250.6)	(825.3)	(727.4)
Interest income, net	24.3	15.1	56.3	32.8
Amount Reclassified from Accumulated Other Comprehensive Loss | Foreign currency translation adjustments
Affected Line on Consolidated Condensed Statements of Operations
Other non-operating income, net	1.6	1.7	5.1	5.2
Provision for income taxes	(0.5)	(0.5)	(1.3)	(1.3)
Net of tax	1.1	1.2	3.8	3.9
Amount Reclassified from Accumulated Other Comprehensive Loss | Gain (Loss) on hedges
Affected Line on Consolidated Condensed Statements of Operations
Other non-operating income, net	0	4.8	4.8	16.1
Provision for income taxes	(4.2)	(2.9)	(8.9)	(14.8)
Net of tax	12.8	11.2	27.8	54.3
Cost of sales	17	9.3	31.9	53
Total before tax	17	14.1	36.7	69.1
Amount Reclassified from Accumulated Other Comprehensive Loss | Loss on available-for-sale investments
Affected Line on Consolidated Condensed Statements of Operations
Provision for income taxes	(0.2)	0.4	0.7	2.3
Net of tax	0.6	(0.8)	(2)	(6.7)
Interest income, net	$ 0.8	$ (1.2)	$ (2.7)	$ (9)

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Income for Earnings Per Share Calculations:
Income from continuing operations, net of tax	$ 362.1	$ 334.9	$ 1,051	$ 886.9
Net loss attributable to noncontrolling interest	(1.4)	(1.2)	(3.6)	(2.8)
Income from continuing operations attributable to Edwards Lifesciences Corporation	363.5	336.1	1,054.6	889.7
Income from discontinued operations	2,707.3	48.8	2,734.4	142.8
Net income attributable to Edwards Lifesciences Corporation	$ 3,070.8	$ 384.9	$ 3,789	$ 1,032.5
Weighted Average Shares:
Basic weighted-average shares outstanding (in shares)	597.2	607	600.3	607.2
Dilutive effect of stock plans (in shares)	0.9	2.5	1.9	3
Dilutive weighted-average shares outstanding (in shares)	598.1	609.5	602.2	610.2
Basic:
Continuing operations (in dollars per share)	$ 0.61	$ 0.55	$ 1.76	$ 1.47
Discontinued operations (in dollars per share)	4.53	0.08	4.55	0.23
Basic earnings per share (in dollars per share)	5.14	0.63	6.31	1.70
Diluted:
Continuing operations (in dollars per share)	0.61	0.55	1.75	1.46
Discontinued operations (in dollars per share)	4.52	0.08	4.54	0.23
Diluted earnings per share (in dollars per share)	$ 5.13	$ 0.63	$ 6.29	$ 1.69

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock Compensation Plan
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of earnings per share (in shares)	10.4	6.5	7.8	6.1
Treasury Stock
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of earnings per share (in shares)			1.9

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Millions	1 Months Ended		3 Months Ended			9 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Nov. 30, 2022 USD ($)	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2020 agreement
Income Tax Contingency [Line Items]
Effective income tax rate (as a percent)			10.10%		13.60%	9.20%	11.80%
Tax benefit from employee share-based compensation			$ 0.6		$ 1.8	$ 10.1	$ 12.8
Liability for income taxes associated with uncertain tax positions			656.5			656.5			$ 583.9
Decrease in unrecognized tax benefits is reasonably possible			326.1			326.1			250.7
Net amounts that would favorably affect effective tax rate			$ 330.4			$ 330.4			333.2
Number of APAs renewed | agreement										3
Additional tax expense								$ 250
Additional tax sought in excess of filing position									$ 269.3
Additional deposit	$ 305	$ 75
Israel Tax Authority
Income Tax Contingency [Line Items]
Estimate of additional tax owed				$ 110

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Information about Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Net Sales
Total segment net sales	$ 1,354.4	$ 1,243.4	$ 4,053.7	$ 3,743.6
Operating segments
Segment Net Sales
Total segment net sales	1,358.7	1,239.6	4,068	3,732.1
Segment Operating Income
Total segment operating income	850.1	767.7	2,504	2,328.5
Operating segments | United States
Segment Net Sales
Total segment net sales	804.6	735.9	2,393.1	2,203.6
Segment Operating Income
Total segment operating income	551.2	498.4	1,619.2	1,510.2
Operating segments | Europe
Segment Net Sales
Total segment net sales	315.1	282.7	968.4	878
Segment Operating Income
Total segment operating income	177.3	156.1	540.3	489.2
Operating segments | Japan
Segment Net Sales
Total segment net sales	85.8	84.9	265.6	251.5
Segment Operating Income
Total segment operating income	54.4	53.7	159.8	158.5
Operating segments | Rest of World
Segment Net Sales
Total segment net sales	153.2	136.1	440.9	399
Segment Operating Income
Total segment operating income	$ 67.2	$ 59.5	$ 184.7	$ 170.6

SEGMENT INFORMATION - Schedul_2

SEGMENT INFORMATION - Schedule of Reconciliation of Segment Net Sales and Pre-Tax Income (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Sales Reconciliation
Net sales		$ 1,354.4	$ 1,243.4	$ 4,053.7	$ 3,743.6
Pre-tax Income Reconciliation
Consolidated operating income		350.6	365.9	1,066.1	962.1
Unallocated amounts:
Restructuring expenses (Note 4)	$ (32.9)	(32.9)	0	(32.9)	0
Intellectual property agreement and certain litigation expenses		(10.8)	(2.2)	(27.8)	(193.6)
Change in fair value of contingent consideration liabilities		0	0	0	26.2
Income from continuing operations before provision for income taxes		402.8	387.6	1,158	1,005.2
Operating segments
Net Sales Reconciliation
Net sales		1,358.7	1,239.6	4,068	3,732.1
Pre-tax Income Reconciliation
Consolidated operating income		850.1	767.7	2,504	2,328.5
Reconciling items
Net Sales Reconciliation
Net sales		(4.3)	3.8	(14.3)	11.5
Unallocated amounts:
Restructuring expenses (Note 4)		(32.9)	0	(32.9)	0
Intellectual property agreement and certain litigation expenses		(10.8)	(2.2)	(27.8)	(193.6)
Foreign currency		12.9	10.5	19.3	60.4
Non-operating income		52.2	21.7	91.9	43.1
Corporate items
Unallocated amounts:
Corporate items		$ (468.7)	$ (410.1)	$ (1,396.5)	$ (1,259.4)

SEGMENT INFORMATION - Schedul_3

SEGMENT INFORMATION - Schedule of Enterprise-Wide Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Enterprise-Wide Information
Net sales	$ 1,354.4	$ 1,243.4	$ 4,053.7	$ 3,743.6
Transcatheter Aortic Valve Replacement
Enterprise-Wide Information
Net sales	1,023.3	960.9	3,069.8	2,900.4
Transcatheter Mitral and Tricuspid Therapies
Enterprise-Wide Information
Net sales	91.1	52.4	247	141.6
Surgical Structural Heart
Enterprise-Wide Information
Net sales	240	230.1	736.9	701.6
United States
Enterprise-Wide Information
Net sales	804.6	735.9	2,393.1	2,203.6
Europe
Enterprise-Wide Information
Net sales	319.8	286.5	978	877.7
Japan
Enterprise-Wide Information
Net sales	81.4	85.8	253.9	266.4
Rest of World
Enterprise-Wide Information
Net sales	$ 148.6	$ 135.2	$ 428.7	$ 395.9

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Innovalve Bio Medical Limited - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2024	Jul. 31, 2024
Subsequent Event [Line Items]
Cash consideration paid at closing		$ 30
Fair value of previously held equity interest		$ 3.5
Percentage of previously held interest		4%
Subsequent Event
Subsequent Event [Line Items]
Cash consideration paid at closing	$ 300
Contingent consideration liabilities	$ 25