Stryker (SYK) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-13149
Entity Registrant Name	STRYKER CORP
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-1239739
Entity Address, Address Line One	1941 Stryker Way
Entity Address, City or Town	Portage,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49002
City Area Code	(269)
Local Phone Number	385-2600
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	381,215,773
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000310764
Current Fiscal Year End Date	--12-31
Common stock
Document Information [Line Items]
Title of each class	Common Stock, $.10 Par Value
Trading Symbol	SYK
Security Exchange Name	NYSE
Senior Unsecured Notes, 0.250% Due 2024
Document Information [Line Items]
Title of each class	0.250% Notes due 2024
Trading Symbol	SYK24A
Security Exchange Name	NYSE
Senior Unsecured Notes, 2.125% Due 2027
Document Information [Line Items]
Title of each class	2.125% Notes due 2027
Trading Symbol	SYK27
Security Exchange Name	NYSE
Senior Unsecured Notes, 3.375% Due 2028
Document Information [Line Items]
Title of each class	3.375% Notes due 2028
Trading Symbol	SYK28
Security Exchange Name	NYSE
Senior Unsecured Notes, 0.750% Due 2029
Document Information [Line Items]
Title of each class	0.750% Notes due 2029
Trading Symbol	SYK29
Security Exchange Name	NYSE
Senior Unsecured Notes, 2.625% Due 2030
Document Information [Line Items]
Title of each class	2.625% Notes due 2030
Trading Symbol	SYK30
Security Exchange Name	NYSE
Senior Unsecured Notes, 1.000% Due 2031
Document Information [Line Items]
Title of each class	1.000% Notes due 2031
Trading Symbol	SYK31
Security Exchange Name	NYSE
Senior Unsecured Notes, 3.375% Due 2032
Document Information [Line Items]
Title of each class	3.375% Notes due 2032
Trading Symbol	SYK32
Security Exchange Name	NYSE
Senior Unsecured Notes, 3.625% Due 2036
Document Information [Line Items]
Title of each class	3.625% Notes due 2036
Trading Symbol	SYK36
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - 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	$ 5,494	$ 4,909	$ 16,159	$ 14,683
Cost of sales	1,977	1,751	5,893	5,328
Gross profit	3,517	3,158	10,266	9,355
Research, development and engineering expenses	377	353	1,108	1,038
Selling, general and administrative expenses	1,896	1,710	5,583	5,200
Amortization of intangible assets	159	164	467	486
Total operating expenses	2,432	2,227	7,158	6,724
Operating income	1,085	931	3,108	2,631
Other income (expense), net	(42)	(62)	(144)	(184)
Earnings before income taxes	1,043	869	2,964	2,447
Income taxes	209	177	517	425
Net earnings	$ 834	$ 692	$ 2,447	$ 2,022
Net earnings per share of common stock:
Basic (in dollars per share)	$ 2.18	$ 1.82	$ 6.42	$ 5.33
Diluted (in dollars per share)	$ 2.16	$ 1.80	$ 6.35	$ 5.27
Weighted-average shares outstanding (in millions):
Basic (in shares)	381.1	379.8	380.9	379.5
Effect of dilutive employee stock compensation (in shares)	4.5	4.2	4.5	4.2
Diluted (in shares)	385.6	384	385.4	383.7
Cash dividends declared per share of common stock (in dollars per share)	$ 0.80	$ 0.75	$ 2.40	$ 2.25

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - 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 earnings	$ 834	$ 692	$ 2,447	$ 2,022
Other comprehensive income (loss), net of tax:
Marketable securities	0	0	0	0
Pension plans	(2)	(1)	(1)	(4)
Unrealized gains (losses) on designated hedges	(27)	2	(28)	4
Financial statement translation	(161)	80	(100)	(28)
Total other comprehensive income (loss), net of tax	(190)	81	(129)	(28)
Comprehensive income	$ 644	$ 773	$ 2,318	$ 1,994

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 3,850	$ 2,971
Short-term investments	750	0
Marketable securities	84	82
Accounts receivable, less allowance of $200 ($182 in 2023)	3,736	3,765
Inventories:
Materials and supplies	1,234	1,242
Work in process	391	330
Finished goods	3,667	3,271
Total inventories	5,292	4,843
Prepaid expenses and other current assets	961	857
Total current assets	14,673	12,518
Property, plant and equipment:
Land, buildings and improvements	1,729	1,692
Machinery and equipment	5,160	4,652
Total property, plant and equipment	6,889	6,344
Less allowance for depreciation	3,460	3,129
Property, plant and equipment, net	3,429	3,215
Goodwill	16,396	15,243
Other intangibles, net	4,940	4,593
Noncurrent deferred income tax assets	1,562	1,670
Other noncurrent assets	2,833	2,673
Total assets	43,833	39,912
Current liabilities
Accounts payable	1,337	1,517
Accrued compensation	1,250	1,478
Income taxes	394	391
Dividends payable	305	304
Accrued expenses and other liabilities	2,224	2,137
Current maturities of debt	2,159	2,094
Total current liabilities	7,669	7,921
Long-term debt, excluding current maturities	13,325	10,901
Income taxes	368	567
Other noncurrent liabilities	2,322	1,930
Total liabilities	23,684	21,319
Shareholders' equity
Common stock, $0.10 par value	38	38
Additional paid-in capital	2,353	2,200
Retained earnings	18,303	16,771
Accumulated other comprehensive loss	(545)	(416)
Total shareholders' equity	20,149	18,593
Total liabilities and shareholders' equity	$ 43,833	$ 39,912

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 200	$ 182
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance at Dec. 31, 2022		$ 38	$ 2,034	$ 14,765	$ (221)
Beginning balance (in shares) at Dec. 31, 2022		378.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock option and benefit plans (in shares)		1.2
Issuance of common stock under stock compensation and benefit plans		$ 0	(16)
Share-based compensation			165
Net earnings	$ 2,022			2,022
Cash dividends declared				(854)
Other comprehensive income (loss)	(28)				(28)
Ending balance at Sep. 30, 2023	17,905	$ 38	2,183	15,933	(249)
Ending balance (in shares) at Sep. 30, 2023		379.9
Beginning balance at Jun. 30, 2023		$ 38	2,127	15,526	(330)
Beginning balance (in shares) at Jun. 30, 2023		379.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock option and benefit plans (in shares)		0.1
Issuance of common stock under stock compensation and benefit plans		$ 0	4
Share-based compensation			52
Net earnings	692			692
Cash dividends declared				(285)
Other comprehensive income (loss)	81				81
Ending balance at Sep. 30, 2023	17,905	$ 38	2,183	15,933	(249)
Ending balance (in shares) at Sep. 30, 2023		379.9
Beginning balance at Dec. 31, 2023	18,593	$ 38	2,200	16,771	(416)
Beginning balance (in shares) at Dec. 31, 2023		380.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock option and benefit plans (in shares)		1.1
Issuance of common stock under stock compensation and benefit plans		$ 0	(31)
Share-based compensation			184
Net earnings	2,447			2,447
Cash dividends declared				(915)
Other comprehensive income (loss)	(129)
Ending balance at Sep. 30, 2024	20,149	$ 38	2,353	18,303	(545)
Ending balance (in shares) at Sep. 30, 2024		381.2
Beginning balance at Jun. 30, 2024		$ 38	2,305	17,774	(355)
Beginning balance (in shares) at Jun. 30, 2024		381.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock option and benefit plans (in shares)		0.1
Issuance of common stock under stock compensation and benefit plans		$ 0	(3)
Share-based compensation			51
Net earnings	834			834
Cash dividends declared				(305)
Other comprehensive income (loss)	(190)				(190)
Ending balance at Sep. 30, 2024	$ 20,149	$ 38	$ 2,353	$ 18,303	$ (545)
Ending balance (in shares) at Sep. 30, 2024		381.2

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net earnings	$ 2,447	$ 2,022
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	319	292
Amortization of intangible assets	467	486
Asset impairments	21	12
Share-based compensation	184	165
Sale of inventory stepped-up to fair value at acquisition	38	0
Deferred income tax (benefit) expense	(21)	(4)
Changes in operating assets and liabilities:
Accounts receivable	67	266
Inventories	(362)	(922)
Accounts payable	(203)	(118)
Accrued expenses and other liabilities	(224)	149
Income taxes	(236)	(65)
Other, net	(186)	(100)
Net cash provided by operating activities	2,311	2,183
Investing activities
Acquisitions, net of cash acquired	(1,598)	(390)
Payments to Acquire Short-Term Investments	750	0
Purchases of marketable securities	(41)	(41)
Proceeds from sales of marketable securities	40	49
Purchases of property, plant and equipment	(489)	(430)
Proceeds from settlement of net investment hedges	99	0
Other investing, net	42	2
Net cash used in investing activities	(2,697)	(810)
Financing activities
Proceeds (payments) on short-term borrowings, net	(32)	540
Proceeds from issuance of long-term debt	3,011	0
Payments on long-term debt	(601)	(852)
Payments of dividends	(914)	(854)
Cash paid for taxes from withheld shares	(146)	(121)
Other financing, net	(49)	(21)
Net cash provided by (used in) financing activities	1,269	(1,308)
Effect of exchange rate changes on cash and cash equivalents	(4)	(49)
Change in cash and cash equivalents	879	16
Cash and cash equivalents at beginning of period	2,971	1,844
Cash and cash equivalents at end of period	$ 3,850	$ 1,860

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION General Information Management believes the accompanying unaudited Consolidated Financial Statements contain all adjustments, including normal recurring items, considered necessary to fairly present the financial position of Stryker Corporation and its consolidated subsidiaries ("Stryker," the "Company," "we," "us" or "our") on September 30, 2024 and the results of operations for the three and nine months 2024. The results of operations included in these Consolidated Financial Statements may not necessarily be indicative of our annual results. These statements should be read in conjunction with our Annual Report on Form 10-K for 2023. New Accounting Pronouncements Not Yet Adopted In December 2023 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09 (Topic 740): Income Taxes: Improvements to Income Tax Disclosures which expands the existing rules on income tax disclosures. This update requires entities to disclose specific categories in the tax rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and disclose additional information about income taxes paid on an annual basis. The new disclosure requirements are effective for fiscal years beginning after December 15, 2024 and we will adopt this ASU in 2025. In November 2023 the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands disclosure requirements to require entities to disclose significant segment expenses that are regularly provided to or easily computed from information regularly provided to the chief operating decision maker. This update also requires all annual disclosures currently required by Topic 280 to be disclosed in interim periods. The new disclosure requirements are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We will adopt this ASU in the fourth quarter 2024. We evaluate all ASUs issued by the FASB for consideration of their applicability. ASUs not included in our disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on our Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Revenue Recognition	REVENUE RECOGNITION Our policies for recognizing sales have not changed from those described in our Annual Report on Form 10-K for 2023. We disaggregate our net sales by business and geographic location for each of our segments as we believe it best depicts how the nature, amount, timing and certainty of our net sales and cash flows are affected by economic factors. Beginning in the first quarter 2024, a product line previously included in Instruments has been reclassified to Endoscopy to align with a change in our internal reporting structure. We have reflected this change in all historical periods presented. Net Sales by Business Three Months Nine Months 2024 2023 2024 2023 MedSurg and Neurotechnology: Instruments $ 679 $ 620 $ 2,044 $ 1,808 Endoscopy 837 746 2,383 2,166 Medical 938 798 2,710 2,417 Neurovascular 329 311 966 906 Neuro Cranial 441 384 1,237 1,112 $ 3,224 $ 2,859 $ 9,340 $ 8,409 Orthopaedics and Spine: Knees $ 570 $ 515 $ 1,760 $ 1,643 Hips 420 362 1,241 1,130 Trauma and Extremities 849 752 2,511 2,287 Spine 304 291 911 871 Other 127 130 396 343 $ 2,270 $ 2,050 $ 6,819 $ 6,274 Total $ 5,494 $ 4,909 $ 16,159 $ 14,683 Net Sales by Geography Three Months 2024 Three Months 2023 United States International United States International MedSurg and Neurotechnology: Instruments $ 544 $ 135 $ 495 $ 125 Endoscopy 689 148 618 128 Medical 783 155 660 138 Neurovascular 121 208 120 191 Neuro Cranial 366 75 315 69 $ 2,503 $ 721 $ 2,208 $ 651 Orthopaedics and Spine: Knees $ 417 $ 153 $ 385 $ 130 Hips 256 164 231 131 Trauma and Extremities 621 228 550 202 Spine 225 79 217 74 Other 87 40 87 43 $ 1,606 $ 664 $ 1,470 $ 580 Total $ 4,109 $ 1,385 $ 3,678 $ 1,231 Net Sales by Geography Nine Months 2024 Nine Months 2023 United States International United States International MedSurg and Neurotechnology: Instruments $ 1,640 $ 404 $ 1,440 $ 368 Endoscopy 1,948 435 1,767 399 Medical 2,261 449 1,954 463 Neurovascular 369 597 361 545 Neuro Cranial 1,014 223 910 202 $ 7,232 $ 2,108 $ 6,432 $ 1,977 Orthopaedics and Spine: Knees $ 1,279 $ 481 $ 1,207 $ 436 Hips 768 473 716 414 Trauma and Extremities 1,842 669 1,663 624 Spine 675 236 650 221 Other 274 122 233 110 $ 4,838 $ 1,981 $ 4,469 $ 1,805 Total $ 12,070 $ 4,089 $ 10,901 $ 3,782 We sell certain customer lease agreements and the related leased assets to third-party financial institutions to accelerate our cash collection cycle. The lease receivables are sold without recourse and are derecognized from our Consolidated Balance Sheets at the time of sale. Under the terms of our arrangements, we collect lease payments on behalf of the financial institutions but maintain no other form of continuing involvement. Sales of these lease agreements are classified as operating activities in our Consolidated Statements of Cash Flows. Fees earned for our servicing activities are immaterial. Revenue related to customer lease agreements sold under these arrangements represented less than 3% of our total revenue for the three and nine months 2024 and 2023. Contract Assets and Liabilities On September 30, 2024 and December 31, 2023 contract assets recorded in our Consolidated Balance Sheets were not significant. Our contract liabilities arise as a result of consideration received from customers at inception of contracts for certain businesses or where the timing of billing for services precedes satisfaction of our performance obligations. This occurs primarily when payment is received upfront for certain multi-period extended service contracts. Our contract liabilities of $1,008 and $860 on September 30, 2024 and December 31, 2023 are classified within accrued expenses and other liabilities and other noncurrent liabilities within our Consolidated Balance Sheets based on the timing of when we expect to complete our performance obligations. Changes in contract liabilities during the nine months 2024 were as follows: September 30 2024 Beginning contract liabilities $ 860 Revenue recognized from beginning of year contract liabilities (382) Net advance consideration received during the period 530 Ending contract liabilities $ 1,008

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income (AOCI)	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income (AOCI)	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (AOCI) Three Months 2024 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (27) $ 38 $ (366) $ (355) OCI — (1) (28) (221) (250) Income taxes — (1) 7 66 72 Reclassifications to: Cost of sales — — (8) — (8) Other (income) expense, net — — — (8) (8) Income taxes — — 2 2 4 Net OCI $ — $ (2) $ (27) $ (161) $ (190) Ending $ — $ (29) $ 11 $ (527) $ (545) Three Months 2023 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ (1) $ 28 $ 54 $ (411) $ (330) OCI 1 (1) 11 133 144 Income taxes — 1 (2) (47) (48) Reclassifications to: Cost of sales — — (7) — (7) Other (income) expense, net (1) (1) (2) (8) (12) Income taxes — — 2 2 4 Net OCI $ — $ (1) $ 2 $ 80 $ 81 Ending $ (1) $ 27 $ 56 $ (331) $ (249) Nine Months 2024 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (28) $ 39 $ (427) $ (416) OCI — (1) (4) (91) (96) Income taxes — — — 9 9 Reclassifications to: Cost of sales — — (28) — (28) Other (income) expense, net — — (3) (24) (27) Income taxes — — 7 6 13 Net OCI $ — $ (1) $ (28) $ (100) $ (129) Ending $ — $ (29) $ 11 $ (527) $ (545) Nine Months 2023 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ (1) $ 31 $ 52 $ (303) $ (221) OCI — 2 38 10 50 Income taxes — (4) (8) (19) (31) Reclassifications to: Cost of sales — — (29) — (29) Other (income) expense, net — (3) (4) (25) (32) Income taxes — 1 7 6 14 Net OCI $ — $ (4) $ 4 $ (28) $ (28) Ending $ (1) $ 27 $ 56 $ (331) $ (249)

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS We use operational and economic hedges, foreign currency exchange forward contracts, net investment hedges (both derivative and non-derivative financial instruments) and interest rate derivative instruments to manage the impact of currency exchange and interest rate fluctuations on earnings, cash flow and equity. We do not enter into derivative instruments for speculative purposes. We are exposed to potential credit loss in the event of nonperformance by counterparties on our outstanding derivative instruments but do not anticipate nonperformance by any of our counterparties. Should a counterparty default, our maximum loss exposure is the asset balance of the instrument. We have not changed our hedging strategies, accounting practices or objectives from those disclosed in our Annual Report on Form 10-K for 2023. Foreign Currency Hedges September 2024 Cash Flow Net Investment Non-Designated Total Gross notional amount $ 1,730 $ 2,516 $ 5,649 $ 9,895 Maximum term in years 10.0 Fair value: Other current assets $ 14 $ — $ 10 $ 24 Other noncurrent assets 1 — — 1 Other current liabilities (28) — (82) (110) Other noncurrent liabilities (3) (78) — (81) Total fair value $ (16) $ (78) $ (72) $ (166) December 2023 Cash Flow Net Investment Non-Designated Total Gross notional amount $ 1,650 $ 1,662 $ 4,315 $ 7,627 Maximum term in years 2.9 Fair value: Other current assets $ 24 $ 74 $ 16 $ 114 Other noncurrent assets 2 — — 2 Other current liabilities (16) — (36) (52) Other noncurrent liabilities (2) (43) — (45) Total fair value $ 8 $ 31 $ (20) $ 19 We had €2.3 billion and €1.5 billion at September 30, 2024 and December 31, 2023 in certain forward currency contracts designated as net investment hedges, for which the maximum term is 10 years, to hedge a portion of our investments in certain of our entities with functional currencies denominated in Euros. In addition to these derivative financial instruments designated as net investment hedges, we had €5.0 billion and €4.9 billion at September 30, 2024 and December 31, 2023 of senior unsecured notes designated as net investment hedges to selectively hedge portions of our investment in certain international subsidiaries. The currency effects of our Euro-denominated senior unsecured notes are reflected in AOCI within shareholders' equity where they offset gains and losses recorded on our net investment in international subsidiaries. In the nine months 2024 we settled certain foreign currency forward contracts designated as net investment hedges resulting in cash proceeds of $99. The amounts in AOCI related to settled net investment hedges will remain in AOCI until the hedged investment is either sold or substantially liquidated. The total after-tax gain (loss) recognized in OCI related to designated net investment hedges was ($67) in the nine months 2024. Currency Exchange Rate Gains (Losses) Recognized in Net Earnings Three Months Nine Months Derivative Instrument Recognized in: 2024 2023 2024 2023 Cash Flow Cost of sales $ 8 $ 7 $ 28 $ 29 Net Investment Other income (expense), net 8 8 24 25 Non-Designated Other income (expense), net 20 4 33 13 Total $ 36 $ 19 $ 85 $ 67 Pretax gains (losses) on derivatives designated as cash flow hedges of ($4) and net investment hedges of $40 recorded in AOCI are expected to be reclassified to cost of sales and other income (expense), net in earnings within 12 months of September 30, 2024. This cash flow hedge reclassification is primarily due to the sale of inventory that includes previously hedged purchases. A component of the AOCI amounts related to net investment hedges is reclassified over the life of the hedge instruments as we elected to exclude the initial value of the component related to the spot-forward difference from the effectiveness assessment. Interest Rate Hedges Pretax gains (losses) of $4 recorded in AOCI related to interest rate hedges closed in conjunction with debt issuances are expected to be reclassified to other income (expense), net in earnings within 12 months of September 30, 2024. The cash flow effect of interest rate hedges is recorded in cash flow from operations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Our policies for managing risk related to foreign currency, interest rates, credit and markets and our process for determining fair value have not changed from those described in our Annual Report on Form 10-K for 2023. In the nine months 2024 we recorded $204 of contingent consideration related to various acquisitions described in Note 7. In 2023 we recorded $192 of contingent consideration related to the acquisition of Cerus Endovascular Limited (Cerus) described in Note 7. There were no significant transfers into or out of any level of the fair value hierarchy in 2024. Assets Measured at Fair Value September 30 December 31 2024 2023 Cash and cash equivalents $ 3,850 $ 2,971 Short-term investments 750 — Trading marketable securities 255 209 Level 1 - Assets $ 4,855 $ 3,180 Available-for-sale marketable securities: Corporate and asset-backed debt securities $ 50 $ 43 United States agency debt securities 1 4 United States treasury debt securities 28 31 Certificates of deposit 5 4 Total available-for-sale marketable securities $ 84 $ 82 Foreign currency exchange forward contracts 25 116 Level 2 - Assets $ 109 $ 198 Total assets measured at fair value $ 4,964 $ 3,378 Liabilities Measured at Fair Value September 30 December 31 2024 2023 Deferred compensation arrangements $ 255 $ 209 Level 1 - Liabilities $ 255 $ 209 Foreign currency exchange forward contracts $ 191 $ 97 Level 2 - Liabilities $ 191 $ 97 Contingent consideration: Beginning $ 289 $ 121 Additions 204 192 Change in estimate and foreign exchange (11) (2) Settlements (53) (22) Ending $ 429 $ 289 Level 3 - Liabilities $ 429 $ 289 Total liabilities measured at fair value $ 875 $ 595 Fair Value of Available for Sale Securities by Maturity September 30 December 31 2024 2023 Due in one year or less $ 41 $ 46 Due after one year through three years $ 43 $ 36 On September 30, 2024 and December 31, 2023 the aggregate difference between the cost and fair value of available-for-sale marketable securities was nominal. Interest income on cash and cash equivalents, short-term investments and marketable securities income was $30 and $15 in the three months and $92 and $40 in the nine months 2024 and 2023, which was recorded in other income (expense), net.

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	CONTINGENCIES AND COMMITMENTS We are involved in various ongoing proceedings, legal actions and claims arising in the normal course of business, including proceedings related to product, labor, intellectual property and other matters, the most significant of which are more fully described below. The outcomes of these matters will generally not be known for prolonged periods of time. In certain of the legal proceedings the claimants seek damages as well as other compensatory and equitable relief that could result in the payment of significant claims and settlements and/or the imposition of injunctions or other equitable relief. For legal matters for which management had sufficient information to reasonably estimate our future obligations, a liability representing management's best estimate of the probable loss, or the minimum of the range of probable losses when a best estimate within the range is not known, is recorded. The estimates are based on consultation with legal counsel, previous settlement experience and settlement strategies. If actual outcomes are less favorable than those estimated by management, additional expense may be incurred, which could unfavorably affect future operating results. We are self-insured for certain claims and expenses. The ultimate cost to us with respect to product liability claims could be materially different than the amount of the current estimates and accruals and could have a material adverse effect on our financial position, results of operations and cash flows. We are currently investigating whether certain business activities in certain foreign countries violated provisions of the Foreign Corrupt Practices Act (FCPA) and have engaged outside counsel to conduct these investigations. We have been contacted by the United States Securities and Exchange Commission, United States Department of Justice and certain other regulatory authorities and are cooperating with these agencies. At this time we are unable to predict the outcome of the investigations or the potential impact, if any, on our financial statements. We have conducted voluntary recalls of certain products, including our Rejuvenate and ABG II Modular-Neck hip stems and certain lot-specific sizes and offsets of LFIT Anatomic CoCr V40 Femoral Heads. Additionally, we are responsible for certain product liability claims, primarily related to certain hip products sold by Wright Medical Group N.V. (Wright) prior to its 2014 divestiture of the OrthoRecon business. We have incurred, and expect to incur in the future, costs associated with the defense and settlement of claims and lawsuits. Based on the information that has been received related to the matters discussed above, our accrual for these matters was $185 at September 30, 2024, representing our best estimate of probable loss. The final outcomes of these matters are dependent on many factors that are difficult to predict. Accordingly the ultimate cost related to these matters may be materially different than the amount of our current estimate and accruals and could have a material adverse effect on our results of operations and cash flows. Leases September 30 December 31 2024 2023 Right-of-use assets $ 516 $ 494 Lease liabilities, current $ 149 $ 143 Lease liabilities, non-current $ 374 $ 356 Other information: Weighted-average remaining lease term (years) 5.1 5.5 Weighted-average discount rate 3.88 % 3.87 % Three Months Nine Months 2024 2023 2024 2023 Operating lease cost $ 47 $ 48 $ 144 $ 127

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS We acquire stock in companies and various assets that continue to support our capital deployment and product development strategies. In the nine months 2024 and 2023 cash paid for acquisitions, net of cash acquired was $1,598 and $390. In the nine months 2024 we completed various acquisitions for total consideration that includes $1,598 in upfront payments, net of cash acquired, and $395 contingent upon the achievement of certain commercial or clinical milestones. The combined acquisition-date fair values of the contingent milestone payments totaled $204. Goodwill of $615 and $528 was recorded within our Orthopaedics and Spine and our MedSurg and Neurotechnology segments respectively. The acquired companies expand the product portfolios of our Instruments, Endoscopy, Medical and Neuro Cranial businesses within MedSurg and Neurotechnology and our Trauma and Extremities, Joint Replacement and Spine businesses within Orthopaedics and Spine. The purchase price allocation for our acquisitions are based on preliminary valuations, primarily related to developed technology and customer relationships. Goodwill attributable to the acquisitions reflects the strategic benefits of expanding our market presence, diversifying our product portfolio and advancing innovations. This goodwill is not deductible for tax purposes. In May 2023 we acquired Cerus for net cash consideration of $289 and up to $225 in future milestone payments that had a fair value of $192 at the acquisition date. Cerus designs, develops and manufactures neurovascular products used for the treatment of hemorrhagic stroke. Cerus is part of our Neurovascular business within MedSurg and Neurotechnology. Goodwill attributable to the acquisition is not deductible for tax purposes. The purchase price allocations for the acquisitions completed in the nine months 2024 and Cerus are: Purchase Price Allocation of Acquired Net Assets 2024 2023 Total Cerus Tangible assets acquired: Accounts receivable $ 36 $ 1 Inventory 104 2 Deferred income tax assets 31 4 Other assets 27 1 Debt (31) — Deferred income tax liabilities (200) (60) Other liabilities (94) (22) Intangible assets: Developed technology 576 240 Customer relationships 202 — Patents 6 — Trademarks 2 — Goodwill 1,143 315 Purchase price, net of cash acquired of $53 and $7 $ 1,802 $ 481 Weighted average amortization period at acquisition (years): Developed technologies 12 13 Customer relationships 14 — Patents 12 — Trademarks 5 — The purchase price allocation for Cerus was finalized in the second quarter 2024 with no material adjustments. Consolidated Estimated Amortization Expense Remainder of 2024 2025 2026 2027 2028 $ 169 $ 648 $ 592 $ 570 $ 520

Debt and Credit Facilities

Debt and Credit Facilities	9 Months Ended
	Sep. 30, 2024
Long-Term Debt, Unclassified [Abstract]
Debt And Credit Facilities	DEBT AND CREDIT FACILITIES We have lines of credit issued by various financial institutions that are available to fund our day-to-day operating needs. Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants on September 30, 2024. On September 30, 2024 there were no borrowings outstanding under our revolving credit facility or our commercial paper program which allows for maturities up to 397 days from the date of issuance. The maximum amount of our commercial paper that can be outstanding at any time is $2,250. In May 2024 we repaid the outstanding $600 principal amount of the 3.375% senior unsecured notes due May 15, 2024. In September 2024 we issued $750 of 4.250% senior unsecured notes due September 11, 2029, €800 of 3.375% senior unsecured notes due September 11, 2032, $750 of 4.625% senior unsecured notes due September 11, 2034 and €600 of 3.625% senior unsecured notes due September 11, 2036. Summary of Total Debt September 30 December 31 2024 2023 Rate Due Senior unsecured notes: 3.375% May 15, 2024 $ — $ 600 Floating November 16, 2024 559 554 0.250% December 3, 2024 951 940 1.150% June 15, 2025 649 648 3.375% November 1, 2025 749 749 3.500% March 15, 2026 997 997 2.125% November 30, 2027 837 828 3.650% March 7, 2028 598 598 4.850% December 8, 2028 596 596 3.375% December 11, 2028 668 661 0.750% March 1, 2029 892 883 4.250% September 11, 2029 743 — 1.950% June 15, 2030 991 991 2.625% November 30, 2030 721 713 1.000% December 3, 2031 832 823 3.375% September 11, 2032 887 — 4.625% September 11, 2034 740 — 3.625% September 11, 2036 660 — 4.100% April 1, 2043 393 393 4.375% May 15, 2044 396 396 4.625% March 15, 2046 983 983 2.900% June 15, 2050 642 642 Total debt $ 15,484 $ 12,995 Less current maturities 2,159 2,094 Total long-term debt $ 13,325 $ 10,901 September 30 December 31 2024 2023 Unamortized debt issuance costs $ 66 $ 50 Borrowing capacity on existing facilities $ 2,159 $ 2,160 Fair value of senior unsecured notes $ 14,950 $ 12,252

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXESOur effective tax rates were 20.0% and 17.4% in the three and nine months 2024 and 20.4% and 17.4% in the three and nine months 2023. The effective tax rates for the three and nine months 2024 and 2023 reflect the continued lower effective income tax rates as a result of our European operations and certain discrete tax items.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Three Months Nine Months 2024 2023 2024 2023 MedSurg and Neurotechnology $ 3,224 $ 2,859 $ 9,340 $ 8,409 Orthopaedics and Spine 2,270 2,050 6,819 6,274 Net sales $ 5,494 $ 4,909 $ 16,159 $ 14,683 MedSurg and Neurotechnology $ 924 $ 859 $ 2,589 $ 2,266 Orthopaedics and Spine 643 499 1,924 1,701 Segment operating income $ 1,567 $ 1,358 $ 4,513 $ 3,967 Items not allocated to segments: Corporate and other $ (210) $ (209) $ (676) $ (596) Acquisition and integration-related costs (77) 1 (87) (7) Amortization of intangible assets (159) (164) (467) (486) Structural optimization and other special charges (24) (28) (113) (142) Medical device regulations (13) (19) (41) (74) Recall-related matters — (9) (22) (12) Regulatory and legal matters 1 1 1 (19) Consolidated operating income $ 1,085 $ 931 $ 3,108 $ 2,631 There w ere no significant changes to total assets by segment from the information provided in our Annual Report on Form 10-K for 2023.

Basis Of Presentation (Policies

Basis Of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements Not Yet Adopted	New Accounting Pronouncements Not Yet Adopted In December 2023 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09 (Topic 740): Income Taxes: Improvements to Income Tax Disclosures which expands the existing rules on income tax disclosures. This update requires entities to disclose specific categories in the tax rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and disclose additional information about income taxes paid on an annual basis. The new disclosure requirements are effective for fiscal years beginning after December 15, 2024 and we will adopt this ASU in 2025. In November 2023 the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands disclosure requirements to require entities to disclose significant segment expenses that are regularly provided to or easily computed from information regularly provided to the chief operating decision maker. This update also requires all annual disclosures currently required by Topic 280 to be disclosed in interim periods. The new disclosure requirements are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We will adopt this ASU in the fourth quarter 2024. We evaluate all ASUs issued by the FASB for consideration of their applicability. ASUs not included in our disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on our Consolidated Financial Statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Schedule of Disaggregated Revenue	Net Sales by Business Three Months Nine Months 2024 2023 2024 2023 MedSurg and Neurotechnology: Instruments $ 679 $ 620 $ 2,044 $ 1,808 Endoscopy 837 746 2,383 2,166 Medical 938 798 2,710 2,417 Neurovascular 329 311 966 906 Neuro Cranial 441 384 1,237 1,112 $ 3,224 $ 2,859 $ 9,340 $ 8,409 Orthopaedics and Spine: Knees $ 570 $ 515 $ 1,760 $ 1,643 Hips 420 362 1,241 1,130 Trauma and Extremities 849 752 2,511 2,287 Spine 304 291 911 871 Other 127 130 396 343 $ 2,270 $ 2,050 $ 6,819 $ 6,274 Total $ 5,494 $ 4,909 $ 16,159 $ 14,683 Net Sales by Geography Three Months 2024 Three Months 2023 United States International United States International MedSurg and Neurotechnology: Instruments $ 544 $ 135 $ 495 $ 125 Endoscopy 689 148 618 128 Medical 783 155 660 138 Neurovascular 121 208 120 191 Neuro Cranial 366 75 315 69 $ 2,503 $ 721 $ 2,208 $ 651 Orthopaedics and Spine: Knees $ 417 $ 153 $ 385 $ 130 Hips 256 164 231 131 Trauma and Extremities 621 228 550 202 Spine 225 79 217 74 Other 87 40 87 43 $ 1,606 $ 664 $ 1,470 $ 580 Total $ 4,109 $ 1,385 $ 3,678 $ 1,231 Net Sales by Geography Nine Months 2024 Nine Months 2023 United States International United States International MedSurg and Neurotechnology: Instruments $ 1,640 $ 404 $ 1,440 $ 368 Endoscopy 1,948 435 1,767 399 Medical 2,261 449 1,954 463 Neurovascular 369 597 361 545 Neuro Cranial 1,014 223 910 202 $ 7,232 $ 2,108 $ 6,432 $ 1,977 Orthopaedics and Spine: Knees $ 1,279 $ 481 $ 1,207 $ 436 Hips 768 473 716 414 Trauma and Extremities 1,842 669 1,663 624 Spine 675 236 650 221 Other 274 122 233 110 $ 4,838 $ 1,981 $ 4,469 $ 1,805 Total $ 12,070 $ 4,089 $ 10,901 $ 3,782
Contract with Customer, Contract Asset, Contract Liability, and Receivable	Changes in contract liabilities during the nine months 2024 were as follows: September 30 2024 Beginning contract liabilities $ 860 Revenue recognized from beginning of year contract liabilities (382) Net advance consideration received during the period 530 Ending contract liabilities $ 1,008

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (AOCI) (Tables)	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Three Months 2024 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (27) $ 38 $ (366) $ (355) OCI — (1) (28) (221) (250) Income taxes — (1) 7 66 72 Reclassifications to: Cost of sales — — (8) — (8) Other (income) expense, net — — — (8) (8) Income taxes — — 2 2 4 Net OCI $ — $ (2) $ (27) $ (161) $ (190) Ending $ — $ (29) $ 11 $ (527) $ (545) Three Months 2023 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ (1) $ 28 $ 54 $ (411) $ (330) OCI 1 (1) 11 133 144 Income taxes — 1 (2) (47) (48) Reclassifications to: Cost of sales — — (7) — (7) Other (income) expense, net (1) (1) (2) (8) (12) Income taxes — — 2 2 4 Net OCI $ — $ (1) $ 2 $ 80 $ 81 Ending $ (1) $ 27 $ 56 $ (331) $ (249) Nine Months 2024 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (28) $ 39 $ (427) $ (416) OCI — (1) (4) (91) (96) Income taxes — — — 9 9 Reclassifications to: Cost of sales — — (28) — (28) Other (income) expense, net — — (3) (24) (27) Income taxes — — 7 6 13 Net OCI $ — $ (1) $ (28) $ (100) $ (129) Ending $ — $ (29) $ 11 $ (527) $ (545) Nine Months 2023 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ (1) $ 31 $ 52 $ (303) $ (221) OCI — 2 38 10 50 Income taxes — (4) (8) (19) (31) Reclassifications to: Cost of sales — — (29) — (29) Other (income) expense, net — (3) (4) (25) (32) Income taxes — 1 7 6 14 Net OCI $ — $ (4) $ 4 $ (28) $ (28) Ending $ (1) $ 27 $ 56 $ (331) $ (249)
Reclassification out of Accumulated Other Comprehensive Income	Three Months 2024 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (27) $ 38 $ (366) $ (355) OCI — (1) (28) (221) (250) Income taxes — (1) 7 66 72 Reclassifications to: Cost of sales — — (8) — (8) Other (income) expense, net — — — (8) (8) Income taxes — — 2 2 4 Net OCI $ — $ (2) $ (27) $ (161) $ (190) Ending $ — $ (29) $ 11 $ (527) $ (545) Three Months 2023 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ (1) $ 28 $ 54 $ (411) $ (330) OCI 1 (1) 11 133 144 Income taxes — 1 (2) (47) (48) Reclassifications to: Cost of sales — — (7) — (7) Other (income) expense, net (1) (1) (2) (8) (12) Income taxes — — 2 2 4 Net OCI $ — $ (1) $ 2 $ 80 $ 81 Ending $ (1) $ 27 $ 56 $ (331) $ (249) Nine Months 2024 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ — $ (28) $ 39 $ (427) $ (416) OCI — (1) (4) (91) (96) Income taxes — — — 9 9 Reclassifications to: Cost of sales — — (28) — (28) Other (income) expense, net — — (3) (24) (27) Income taxes — — 7 6 13 Net OCI $ — $ (1) $ (28) $ (100) $ (129) Ending $ — $ (29) $ 11 $ (527) $ (545) Nine Months 2023 Marketable Securities Pension Plans Hedges Financial Statement Translation Total Beginning $ (1) $ 31 $ 52 $ (303) $ (221) OCI — 2 38 10 50 Income taxes — (4) (8) (19) (31) Reclassifications to: Cost of sales — — (29) — (29) Other (income) expense, net — (3) (4) (25) (32) Income taxes — 1 7 6 14 Net OCI $ — $ (4) $ 4 $ (28) $ (28) Ending $ (1) $ 27 $ 56 $ (331) $ (249)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	September 2024 Cash Flow Net Investment Non-Designated Total Gross notional amount $ 1,730 $ 2,516 $ 5,649 $ 9,895 Maximum term in years 10.0 Fair value: Other current assets $ 14 $ — $ 10 $ 24 Other noncurrent assets 1 — — 1 Other current liabilities (28) — (82) (110) Other noncurrent liabilities (3) (78) — (81) Total fair value $ (16) $ (78) $ (72) $ (166) December 2023 Cash Flow Net Investment Non-Designated Total Gross notional amount $ 1,650 $ 1,662 $ 4,315 $ 7,627 Maximum term in years 2.9 Fair value: Other current assets $ 24 $ 74 $ 16 $ 114 Other noncurrent assets 2 — — 2 Other current liabilities (16) — (36) (52) Other noncurrent liabilities (2) (43) — (45) Total fair value $ 8 $ 31 $ (20) $ 19
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	Three Months Nine Months Derivative Instrument Recognized in: 2024 2023 2024 2023 Cash Flow Cost of sales $ 8 $ 7 $ 28 $ 29 Net Investment Other income (expense), net 8 8 24 25 Non-Designated Other income (expense), net 20 4 33 13 Total $ 36 $ 19 $ 85 $ 67

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets Measured at Fair Value September 30 December 31 2024 2023 Cash and cash equivalents $ 3,850 $ 2,971 Short-term investments 750 — Trading marketable securities 255 209 Level 1 - Assets $ 4,855 $ 3,180 Available-for-sale marketable securities: Corporate and asset-backed debt securities $ 50 $ 43 United States agency debt securities 1 4 United States treasury debt securities 28 31 Certificates of deposit 5 4 Total available-for-sale marketable securities $ 84 $ 82 Foreign currency exchange forward contracts 25 116 Level 2 - Assets $ 109 $ 198 Total assets measured at fair value $ 4,964 $ 3,378 Liabilities Measured at Fair Value September 30 December 31 2024 2023 Deferred compensation arrangements $ 255 $ 209 Level 1 - Liabilities $ 255 $ 209 Foreign currency exchange forward contracts $ 191 $ 97 Level 2 - Liabilities $ 191 $ 97 Contingent consideration: Beginning $ 289 $ 121 Additions 204 192 Change in estimate and foreign exchange (11) (2) Settlements (53) (22) Ending $ 429 $ 289 Level 3 - Liabilities $ 429 $ 289 Total liabilities measured at fair value $ 875 $ 595
Investments Classified by Contractual Maturity Date	Fair Value of Available for Sale Securities by Maturity September 30 December 31 2024 2023 Due in one year or less $ 41 $ 46 Due after one year through three years $ 43 $ 36

Contingencies and Commitments (

Contingencies and Commitments (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Lease, Cost	Leases September 30 December 31 2024 2023 Right-of-use assets $ 516 $ 494 Lease liabilities, current $ 149 $ 143 Lease liabilities, non-current $ 374 $ 356 Other information: Weighted-average remaining lease term (years) 5.1 5.5 Weighted-average discount rate 3.88 % 3.87 % Three Months Nine Months 2024 2023 2024 2023 Operating lease cost $ 47 $ 48 $ 144 $ 127

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The purchase price allocations for the acquisitions completed in the nine months 2024 and Cerus are: Purchase Price Allocation of Acquired Net Assets 2024 2023 Total Cerus Tangible assets acquired: Accounts receivable $ 36 $ 1 Inventory 104 2 Deferred income tax assets 31 4 Other assets 27 1 Debt (31) — Deferred income tax liabilities (200) (60) Other liabilities (94) (22) Intangible assets: Developed technology 576 240 Customer relationships 202 — Patents 6 — Trademarks 2 — Goodwill 1,143 315 Purchase price, net of cash acquired of $53 and $7 $ 1,802 $ 481 Weighted average amortization period at acquisition (years): Developed technologies 12 13 Customer relationships 14 — Patents 12 — Trademarks 5 —
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Consolidated Estimated Amortization Expense Remainder of 2024 2025 2026 2027 2028 $ 169 $ 648 $ 592 $ 570 $ 520

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	9 Months Ended
	Sep. 30, 2024
Long-Term Debt, Unclassified [Abstract]
Schedule of Long-term Debt Instruments	Summary of Total Debt September 30 December 31 2024 2023 Rate Due Senior unsecured notes: 3.375% May 15, 2024 $ — $ 600 Floating November 16, 2024 559 554 0.250% December 3, 2024 951 940 1.150% June 15, 2025 649 648 3.375% November 1, 2025 749 749 3.500% March 15, 2026 997 997 2.125% November 30, 2027 837 828 3.650% March 7, 2028 598 598 4.850% December 8, 2028 596 596 3.375% December 11, 2028 668 661 0.750% March 1, 2029 892 883 4.250% September 11, 2029 743 — 1.950% June 15, 2030 991 991 2.625% November 30, 2030 721 713 1.000% December 3, 2031 832 823 3.375% September 11, 2032 887 — 4.625% September 11, 2034 740 — 3.625% September 11, 2036 660 — 4.100% April 1, 2043 393 393 4.375% May 15, 2044 396 396 4.625% March 15, 2046 983 983 2.900% June 15, 2050 642 642 Total debt $ 15,484 $ 12,995 Less current maturities 2,159 2,094 Total long-term debt $ 13,325 $ 10,901 September 30 December 31 2024 2023 Unamortized debt issuance costs $ 66 $ 50 Borrowing capacity on existing facilities $ 2,159 $ 2,160 Fair value of senior unsecured notes $ 14,950 $ 12,252

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Sales and Other Financial Information by Business Segment	Three Months Nine Months 2024 2023 2024 2023 MedSurg and Neurotechnology $ 3,224 $ 2,859 $ 9,340 $ 8,409 Orthopaedics and Spine 2,270 2,050 6,819 6,274 Net sales $ 5,494 $ 4,909 $ 16,159 $ 14,683 MedSurg and Neurotechnology $ 924 $ 859 $ 2,589 $ 2,266 Orthopaedics and Spine 643 499 1,924 1,701 Segment operating income $ 1,567 $ 1,358 $ 4,513 $ 3,967 Items not allocated to segments: Corporate and other $ (210) $ (209) $ (676) $ (596) Acquisition and integration-related costs (77) 1 (87) (7) Amortization of intangible assets (159) (164) (467) (486) Structural optimization and other special charges (24) (28) (113) (142) Medical device regulations (13) (19) (41) (74) Recall-related matters — (9) (22) (12) Regulatory and legal matters 1 1 1 (19) Consolidated operating income $ 1,085 $ 931 $ 3,108 $ 2,631

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Sales Analysis (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 5,494	$ 4,909	$ 16,159	$ 14,683
United States
Disaggregation of Revenue [Line Items]
Net sales	4,109	3,678	12,070	10,901
International
Disaggregation of Revenue [Line Items]
Net sales	1,385	1,231	4,089	3,782
MedSurg and Neurotechnology:
Disaggregation of Revenue [Line Items]
Net sales	3,224	2,859
MedSurg and Neurotechnology: | United States
Disaggregation of Revenue [Line Items]
Net sales	2,503	2,208	7,232	6,432
MedSurg and Neurotechnology: | International
Disaggregation of Revenue [Line Items]
Net sales	721	651	2,108	1,977
MedSurg and Neurotechnology: | Instruments
Disaggregation of Revenue [Line Items]
Net sales	679	620	2,044	1,808
MedSurg and Neurotechnology: | Instruments | United States
Disaggregation of Revenue [Line Items]
Net sales	544	495	1,640	1,440
MedSurg and Neurotechnology: | Instruments | International
Disaggregation of Revenue [Line Items]
Net sales	135	125	404	368
MedSurg and Neurotechnology: | Endoscopy
Disaggregation of Revenue [Line Items]
Net sales	837	746	2,383	2,166
MedSurg and Neurotechnology: | Endoscopy | United States
Disaggregation of Revenue [Line Items]
Net sales	689	618	1,948	1,767
MedSurg and Neurotechnology: | Endoscopy | International
Disaggregation of Revenue [Line Items]
Net sales	148	128	435	399
MedSurg and Neurotechnology: | Medical
Disaggregation of Revenue [Line Items]
Net sales	938	798	2,710	2,417
MedSurg and Neurotechnology: | Medical | United States
Disaggregation of Revenue [Line Items]
Net sales	783	660	2,261	1,954
MedSurg and Neurotechnology: | Medical | International
Disaggregation of Revenue [Line Items]
Net sales	155	138	449	463
MedSurg and Neurotechnology: | Neurovascular
Disaggregation of Revenue [Line Items]
Net sales	329	311	966	906
MedSurg and Neurotechnology: | Neurovascular | United States
Disaggregation of Revenue [Line Items]
Net sales	121	120	369	361
MedSurg and Neurotechnology: | Neurovascular | International
Disaggregation of Revenue [Line Items]
Net sales	208	191	597	545
MedSurg and Neurotechnology: | Neuro Cranial
Disaggregation of Revenue [Line Items]
Net sales	441	384	1,237	1,112
MedSurg and Neurotechnology: | Neuro Cranial | United States
Disaggregation of Revenue [Line Items]
Net sales	366	315	1,014	910
MedSurg and Neurotechnology: | Neuro Cranial | International
Disaggregation of Revenue [Line Items]
Net sales	75	69	223	202
Orthopaedics and Spine:
Disaggregation of Revenue [Line Items]
Net sales	2,270	2,050	6,819	6,274
Orthopaedics and Spine: | United States
Disaggregation of Revenue [Line Items]
Net sales	1,606	1,470	4,838	4,469
Orthopaedics and Spine: | International
Disaggregation of Revenue [Line Items]
Net sales	664	580	1,981	1,805
Orthopaedics and Spine: | Knees
Disaggregation of Revenue [Line Items]
Net sales	570	515	1,760	1,643
Orthopaedics and Spine: | Knees | United States
Disaggregation of Revenue [Line Items]
Net sales	417	385	1,279	1,207
Orthopaedics and Spine: | Knees | International
Disaggregation of Revenue [Line Items]
Net sales	153	130	481	436
Orthopaedics and Spine: | Hips
Disaggregation of Revenue [Line Items]
Net sales	420	362	1,241	1,130
Orthopaedics and Spine: | Hips | United States
Disaggregation of Revenue [Line Items]
Net sales	256	231	768	716
Orthopaedics and Spine: | Hips | International
Disaggregation of Revenue [Line Items]
Net sales	164	131	473	414
Orthopaedics and Spine: | Trauma and Extremities
Disaggregation of Revenue [Line Items]
Net sales	849	752	2,511	2,287
Orthopaedics and Spine: | Trauma and Extremities | United States
Disaggregation of Revenue [Line Items]
Net sales	621	550	1,842	1,663
Orthopaedics and Spine: | Trauma and Extremities | International
Disaggregation of Revenue [Line Items]
Net sales	228	202	669	624
Orthopaedics and Spine: | Spine
Disaggregation of Revenue [Line Items]
Net sales	304	291	911	871
Orthopaedics and Spine: | Spine | United States
Disaggregation of Revenue [Line Items]
Net sales	225	217	675	650
Orthopaedics and Spine: | Spine | International
Disaggregation of Revenue [Line Items]
Net sales	79	74	236	221
Orthopaedics and Spine: | Other
Disaggregation of Revenue [Line Items]
Net sales	127	130	396	343
Orthopaedics and Spine: | Other | United States
Disaggregation of Revenue [Line Items]
Net sales	87	87	274	233
Orthopaedics and Spine: | Other | International
Disaggregation of Revenue [Line Items]
Net sales	$ 40	$ 43	$ 122	$ 110

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 1,008		$ 1,008		$ 860
Revenue Benchmark | Product Concentration Risk | Customer Lease Agreements
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	3%	3%	3%	3%

Revenue Recognition - Changes i

Revenue Recognition - Changes in Contract Liabilities (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Movement In Contract Liabilities [Roll Forward]
Beginning contract liabilities	$ 860
Revenue recognized from beginning of year contract liabilities	(382)
Net advance consideration received during the period	530
Ending contract liabilities	$ 1,008

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI, at beginning of period	$ (355)	$ (330)	$ (416)	$ (221)
OCI	(250)	144	(96)	50
Income taxes	72	(48)	9	(31)
Reclassification to: cost of sales	1,977	1,751	5,893	5,328
Reclassification to: Other (income) expense, net	(42)	(62)	(144)	(184)
Reclassification to: Income taxes	(209)	(177)	(517)	(425)
Net OCI	(190)	81	(129)	(28)
AOCI, at end of period	(545)	(249)	(545)	(249)
Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification to: cost of sales	(8)	(7)	(28)	(29)
Reclassification to: Other (income) expense, net	(8)	(12)	(27)	(32)
Reclassification to: Income taxes	4	4	13	14
Net OCI	(190)	81	(129)	(28)
Marketable Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI, at beginning of period	0	(1)	0	(1)
OCI	0	1	0	0
Income taxes	0	0	0	0
AOCI, at end of period	0	(1)	0	(1)
Marketable Securities | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification to: cost of sales	0	0	0	0
Reclassification to: Other (income) expense, net	0	(1)	0	0
Reclassification to: Income taxes	0	0	0	0
Net OCI	0	0	0	0
Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI, at beginning of period	(27)	28	(28)	31
OCI	(1)	(1)	(1)	2
Income taxes	(1)	1	0	(4)
AOCI, at end of period	(29)	27	(29)	27
Pension Plans | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification to: cost of sales	0	0	0	0
Reclassification to: Other (income) expense, net	0	(1)	0	(3)
Reclassification to: Income taxes	0	0	0	1
Net OCI	(2)	(1)	(1)	(4)
Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI, at beginning of period	38	54	39	52
OCI	(28)	11	(4)	38
Income taxes	7	(2)	0	(8)
AOCI, at end of period	11	56	11	56
Hedges | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification to: cost of sales	(8)	(7)	(28)	(29)
Reclassification to: Other (income) expense, net	0	(2)	(3)	(4)
Reclassification to: Income taxes	2	2	7	7
Net OCI	(27)	2	(28)	4
Financial Statement Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI, at beginning of period	(366)	(411)	(427)	(303)
OCI	(221)	133	(91)	10
Income taxes	66	(47)	9	(19)
AOCI, at end of period	(527)	(331)	(527)	(331)
Financial Statement Translation | Reclassification out of Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification to: cost of sales	0	0	0	0
Reclassification to: Other (income) expense, net	(8)	(8)	(24)	(25)
Reclassification to: Income taxes	2	2	6	6
Net OCI	$ (161)	$ 80	$ (100)	$ (28)

Derivative Instruments - Forwar

Derivative Instruments - Forward Currency Exchange Contracts (Details) - Foreign Exchange Contract $ in Millions, € in Billions	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Derivative [Line Items]
Derivative, notional amount		$ 9,895		$ 7,627
Maximum Remaining Maturity of Foreign Currency Derivatives	2 years 10 months 24 days	10 years
Total fair value		$ (166)		19
Other current assets
Derivative [Line Items]
Derivative assets		24		114
Other noncurrent assets
Derivative [Line Items]
Derivative assets		1		2
Other current liabilities
Derivative [Line Items]
Derivative liabilities		(110)		(52)
Other noncurrent liabilities
Derivative [Line Items]
Derivative liabilities		(81)		(45)
Non-Designated
Derivative [Line Items]
Derivative, notional amount		5,649		4,315
Total fair value		(72)		(20)
Non-Designated | Other current assets
Derivative [Line Items]
Derivative assets		10		16
Non-Designated | Other noncurrent assets
Derivative [Line Items]
Derivative assets		0		0
Non-Designated | Other current liabilities
Derivative [Line Items]
Derivative liabilities		(82)		(36)
Non-Designated | Other noncurrent liabilities
Derivative [Line Items]
Derivative liabilities		0		0
Cash Flow | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount		1,730		1,650
Total fair value		(16)		8
Cash Flow | Designated as Hedging Instrument | Other current assets
Derivative [Line Items]
Derivative assets		14		24
Cash Flow | Designated as Hedging Instrument | Other noncurrent assets
Derivative [Line Items]
Derivative assets		1		2
Cash Flow | Designated as Hedging Instrument | Other current liabilities
Derivative [Line Items]
Derivative liabilities		(28)		(16)
Cash Flow | Designated as Hedging Instrument | Other noncurrent liabilities
Derivative [Line Items]
Derivative liabilities		(3)		(2)
Net Investment | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount		2,516	€ 2.3	1,662	€ 1.5
Total fair value		(78)		31
Net Investment | Designated as Hedging Instrument | Other current assets
Derivative [Line Items]
Derivative assets		0		74
Net Investment | Designated as Hedging Instrument | Other noncurrent assets
Derivative [Line Items]
Derivative assets		0		0
Net Investment | Designated as Hedging Instrument | Other current liabilities
Derivative [Line Items]
Derivative liabilities		0		0
Net Investment | Designated as Hedging Instrument | Other noncurrent liabilities
Derivative [Line Items]
Derivative liabilities		$ (78)		$ (43)

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Millions, € in Billions	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Derivative Instruments, Gain (Loss) [Line Items]
Proceeds from settlement of net investment hedges	$ 99	$ 0
Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	9,895			$ 7,627
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
After-tax gain (loss) recognized in AOCI related to designated net investment hedges	(67)
Cash flow hedge gain (loss) to be reclassified within twelve months	(4)
Net investment hedges expected to be reclassified to cost of sales and other income (expense)	40
Designated as Hedging Instrument | Foreign Exchange Contract | Net Investment
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	2,516		€ 2.3	$ 1,662	€ 1.5
Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 4
Designated as Hedging Instrument | Embedded Derivative Financial Instruments | Net Investment
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount | €			€ 5		€ 4.9

Derivative Instruments - Income

Derivative Instruments - Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Net currency exchange rate gains (losses)	$ 36	$ 19	$ 85	$ 67
Foreign Exchange Contract | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Net currency exchange rate gains (losses)	8	7	28	29
Foreign Exchange Contract | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Net currency exchange rate gains (losses)	20	4	33	13
Net Investment | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Net currency exchange rate gains (losses)	$ 8	$ 8	$ 24	$ 25

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Gain on sale of marketable securities	$ 30	$ 15	$ 92	$ 40
Various
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of contingent consideration	$ 395		$ 395		$ 204
Cerus
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of contingent consideration					$ 192

Fair Value Measurements - Valua

Fair Value Measurements - Valuation Of Financial Instruments By Pricing Categories (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Assets Measured at Fair Value
Short-term investments	$ 750	$ 750	$ 0
Available-for-sale securities, current	84	84	82
Total assets measured at fair value	4,964	4,964	3,378
Contingent consideration:
Total liabilities measured at fair value	875	875	595
Fair Value, Inputs, Level 1
Assets Measured at Fair Value
Cash and cash equivalents	3,850	3,850	2,971
Short-term investments	750	750	0
Trading marketable securities	255	255	209
Total assets measured at fair value	4,855	4,855	3,180
Liabilities
Deferred compensation arrangements	255	255	209
Contingent consideration:
Total liabilities measured at fair value	255	255	209
Fair Value, Inputs, Level 2
Assets Measured at Fair Value
Available-for-sale securities, current	84	84	82
Total assets measured at fair value	109	109	198
Contingent consideration:
Total liabilities measured at fair value	191	191	97
Fair Value, Inputs, Level 2 | Foreign currency exchange forward contracts
Assets Measured at Fair Value
Derivative asset	25	25	116
Liabilities
Foreign currency exchange forward contracts	191	191	97
Fair Value, Inputs, Level 2 | Corporate and asset-backed debt securities
Assets Measured at Fair Value
Available-for-sale securities, current	50	50	43
Fair Value, Inputs, Level 2 | United States agency debt securities
Assets Measured at Fair Value
Available-for-sale securities, current	1	1	4
Fair Value, Inputs, Level 2 | United States treasury debt securities
Assets Measured at Fair Value
Available-for-sale securities, current	28	28	31
Fair Value, Inputs, Level 2 | Certificates of deposit
Assets Measured at Fair Value
Available-for-sale securities, current	5	5	4
Fair Value, Inputs, Level 3
Contingent consideration:
Beginning		289	121
Additions	204		192
Change in estimate and foreign exchange		(11)	(2)
Settlements		(53)	(22)
Ending	429	429	289
Total liabilities measured at fair value	$ 429	$ 429	$ 289

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs (Level 3) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Due in one year or less	$ 41	$ 46
Due after one year through three years	$ 43	$ 36

Contingencies and Commitments -

Contingencies and Commitments - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 185

Contingencies and Commitments_2

Contingencies and Commitments - Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Right-of-use assets	$ 516		$ 516		$ 494
Lease liabilities, current	149		149		143
Lease liabilities, non-current	$ 374		$ 374		$ 356
Other information:
Weighted-average remaining lease term (years)	5 years 1 month 6 days		5 years 1 month 6 days		5 years 6 months
Weighted-average discount rate	3.88%		3.88%		3.87%
Operating lease cost	$ 47	$ 48	$ 144	$ 127

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions		9 Months Ended
	May 02, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Acquisitions, net of cash acquired		$ 1,598	$ 390
Goodwill		16,396		$ 15,243
Orthopaedics and Spine:
Business Acquisition [Line Items]
Goodwill		615
MedSurg and Neurotechnology:
Business Acquisition [Line Items]
Goodwill		528
Various
Business Acquisition [Line Items]
Acquisitions, net of cash acquired		1,598
Fair value of contingent consideration		395		204
Goodwill		$ 1,143
Cerus
Business Acquisition [Line Items]
Fair value of contingent consideration				$ 192
Goodwill			$ 315
Aggregate purchase price of acquisitions	$ 289
Business acquisition, future milestone payments (up to)	$ 225

Acquisitions (Allocation Of The

Acquisitions (Allocation Of The Preliminary Purchase Price To The Acquired Net Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 16,396		$ 15,243
Various
Business Acquisition [Line Items]
Accounts receivable	36
Inventory	104
Deferred income tax assets	31
Other assets	27
Debt	(31)
Deferred income tax liabilities	(200)
Other liabilities	(94)
Goodwill	1,143
Purchase price, net of cash acquired of $53 and $7	1,802
Various | Developed technology
Business Acquisition [Line Items]
Intangible assets acquired	$ 576
Weighted average amortization period at acquisition (years)	12 years
Various | Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired	$ 202
Weighted average amortization period at acquisition (years)	14 years
Various | Patents
Business Acquisition [Line Items]
Intangible assets acquired	$ 6
Weighted average amortization period at acquisition (years)	12 years
Various | Trademarks
Business Acquisition [Line Items]
Intangible assets acquired	$ 2
Weighted average amortization period at acquisition (years)	5 years
Cerus
Business Acquisition [Line Items]
Accounts receivable		$ 1
Inventory		2
Deferred income tax assets		4
Other assets		1
Debt		0
Deferred income tax liabilities		(60)
Other liabilities		(22)
Goodwill		315
Purchase price, net of cash acquired of $53 and $7		481
Cash Acquired from Acquisition	$ (53)	(7)
Cerus | Developed technology
Business Acquisition [Line Items]
Intangible assets acquired		$ 240
Weighted average amortization period at acquisition (years)		13 years
Cerus | Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired		$ 0
Cerus | Patents
Business Acquisition [Line Items]
Intangible assets acquired		0
Cerus | Trademarks
Business Acquisition [Line Items]
Intangible assets acquired		$ 0

Acquisitions (Future Amortizati

Acquisitions (Future Amortization Expense) (Details) $ in Millions	Sep. 30, 2024 USD ($)
Business Combinations [Abstract]
Remainder of 2024	$ 169
2025	648
2026	592
2027	570
2028	$ 520

Debt and Credit Facilities - Na

Debt and Credit Facilities - Narrative (Details) € in Millions	1 Months Ended	9 Months Ended
	May 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)
Line of Credit Facility [Line Items]
Commercial paper		$ 0
Commercial Paper
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 2,250,000,000
Commercial Paper
Line of Credit Facility [Line Items]
Debt instrument, maturity		397 days
Senior Unsecured Notes 3.375% Due May 15, 2024
Line of Credit Facility [Line Items]
Repayments of debt	$ 600,000,000
Rate	3.375%	3.375%	3.375%
Senior Unsecured Notes, 4.250% Due 2029
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 750,000,000
Rate		4.25%	4.25%
Senior Unsecured Notes 3.375% Due 2025
Line of Credit Facility [Line Items]
Debt instrument, face amount | €			€ 800
Rate		3.375%	3.375%
Senior Unsecured Notes 4.625% due 2046
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 750,000,000
Rate		4.625%	4.625%
Senior Unsecured Notes, 3.625% Due 2036
Line of Credit Facility [Line Items]
Debt instrument, face amount | €			€ 600
Rate		3.625%	3.625%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowings outstanding under credit facility		$ 0

Debt and Credit Facilities - Sc

Debt and Credit Facilities - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	May 31, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Total debt	$ 15,484		$ 12,995
Current maturities of debt	2,159		2,094
Long-term debt, excluding current maturities	13,325		10,901
Unamortized debt issuance costs	66		50
Borrowing capacity on existing facilities	2,159		2,160
Fair value of senior unsecured notes	$ 14,950		12,252
Senior Unsecured Notes 3.375% Due May 15, 2024
Line of Credit Facility [Line Items]
Rate	3.375%	3.375%
Unsecured debt	$ 0		600
Senior Unsecured Notes, Floating, due November 16, 2024
Line of Credit Facility [Line Items]
Unsecured debt	$ 559		554
Senior Unsecured Notes, 0.250% Due 2024
Line of Credit Facility [Line Items]
Rate	0.25%
Unsecured debt	$ 951		940
Senior Unsecured Notes, 1.150% Due 2025
Line of Credit Facility [Line Items]
Rate	1.15%
Unsecured debt	$ 649		648
Senior Unsecured Notes 3.375% Due 2025
Line of Credit Facility [Line Items]
Rate	3.375%
Unsecured debt	$ 749		749
Senior Unsecured Notes 3.500% Due 2026
Line of Credit Facility [Line Items]
Rate	3.50%
Unsecured debt	$ 997		997
Senior Unsecured Notes, 2.125% Due 2027
Line of Credit Facility [Line Items]
Rate	2.125%
Unsecured debt	$ 837		828
Senior Unsecured Notes 3.650% Due 2028
Line of Credit Facility [Line Items]
Rate	3.65%
Unsecured debt	$ 598		598
Senior Unsecured Notes 4.850% Due 2028
Line of Credit Facility [Line Items]
Rate	4.85%
Unsecured debt	$ 596		596
Senior Unsecured Notes, 3.375% Due 2028
Line of Credit Facility [Line Items]
Rate	3.375%
Unsecured debt	$ 668		661
Senior Unsecured Notes 0.750% due 2029
Line of Credit Facility [Line Items]
Rate	0.75%
Unsecured debt	$ 892		883
Senior Unsecured Notes, 4.250% Due 2029
Line of Credit Facility [Line Items]
Rate	4.25%
Unsecured debt	$ 743		0
Senior Unsecured Notes, 1.950% Due 2030
Line of Credit Facility [Line Items]
Rate	1.95%
Unsecured debt	$ 991		991
Senior Unsecured Notes, 2.625% due November 2030
Line of Credit Facility [Line Items]
Rate	2.625%
Unsecured debt	$ 721		713
Senior Unsecured Notes 1.000% due 2031
Line of Credit Facility [Line Items]
Rate	1%
Unsecured debt	$ 832		823
Senior Unsecured Notes, 3.375% Due 2032
Line of Credit Facility [Line Items]
Rate	3.375%
Unsecured debt	$ 887		0
Senior Unsecured Notes 4.624% due 2034
Line of Credit Facility [Line Items]
Rate	4.625%
Unsecured debt	$ 740		0
Senior Unsecured Notes, 3.625% Due 2036
Line of Credit Facility [Line Items]
Rate	3.625%
Unsecured debt	$ 660		0
Senior Unsecured Notes, 4.100% Due 2043
Line of Credit Facility [Line Items]
Rate	4.10%
Unsecured debt	$ 393		393
Senior Unsecured Notes 4.375% due 2044
Line of Credit Facility [Line Items]
Rate	4.375%
Unsecured debt	$ 396		396
Senior Unsecured Notes 4.625% due 2046
Line of Credit Facility [Line Items]
Rate	4.625%
Unsecured debt	$ 983		983
Senior Unsecured Notes, 2.900% due 2050
Line of Credit Facility [Line Items]
Rate	2.90%
Unsecured debt	$ 642		$ 642

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	20%	20.40%	17.40%	17.40%

Segment Information - Sales And

Segment Information - Sales And Other Financial Information By Business Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 5,494	$ 4,909	$ 16,159	$ 14,683
Segment operating income	1,085	931	3,108	2,631
Amortization of intangible assets	(159)	(164)	(467)	(486)
MedSurg and Neurotechnology:
Segment Reporting Information [Line Items]
Net sales	3,224	2,859
Orthopaedics and Spine:
Segment Reporting Information [Line Items]
Net sales	2,270	2,050	6,819	6,274
Operating Segments
Segment Reporting Information [Line Items]
Net sales	5,494	4,909	16,159	14,683
Segment operating income	1,567	1,358	4,513	3,967
Operating Segments | MedSurg and Neurotechnology:
Segment Reporting Information [Line Items]
Net sales	3,224	2,859	9,340	8,409
Segment operating income	924	859	2,589	2,266
Operating Segments | Orthopaedics and Spine:
Segment Reporting Information [Line Items]
Net sales	2,270	2,050	6,819	6,274
Segment operating income	643	499	1,924	1,701
Corporate and other
Segment Reporting Information [Line Items]
Segment operating income	(210)	(209)	(676)	(596)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Acquisition and integration-related costs	(77)	1	(87)	(7)
Amortization of intangible assets	(159)	(164)	(467)	(486)
Structural optimization and other special charges	(24)	(28)	(113)	(142)
Medical device regulations	(13)	(19)	(41)	(74)
Recall-related matters	0	(9)	(22)	(12)
Regulatory and legal matters	$ 1	$ 1	$ 1	$ (19)