Boston Scientific (BSX) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Document

Cover Document - $ / shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-11083
Entity Registrant Name	BOSTON SCIENTIFIC CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2695240
Entity Address, Address Line One	300 Boston Scientific Way
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752-1234
City Area Code	508
Local Phone Number	683-4000
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 Listing, Par Value Per Share	$ 0.01
Entity Common Stock, Shares Outstanding		1,429,571,199
Entity Central Index Key	0000885725
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BSX
Security Exchange Name	NYSE
Senior Note due 2027 [Member]
Entity Information [Line Items]
Title of 12(b) Security	0.625% Senior Notes due 2027
Trading Symbol	BSX27
Security Exchange Name	NYSE
5.50% MCPS, Series A [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.50% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share
Trading Symbol	BSX PR A
Security Exchange Name	NYSE

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net sales	$ 3,026	$ 2,752
Cost of products sold	955	894
Gross profit	2,071	1,858
Operating expenses:
Selling, general and administrative expenses	1,060	1,019
Research and development expenses	319	276
Royalty expense	12	12
Amortization expense	198	185
Contingent consideration net expense (benefit)	12	(6)
Restructuring net charges (credits)	4	5
Litigation-related net charges (credits)	0	4
Gain on disposal of businesses and assets	0	(6)
Operating expenses	1,605	1,488
Operating income (loss)	466	370
Other income (expense):
Interest expense	(279)	(82)
Other, net	(31)	37
Income (loss) before income taxes	156	325
Income tax expense (benefit)	45	(16)
Net income (loss)	110	341
Preferred stock dividends	(14)	(14)
Net income (loss) available to common stockholders	$ 97	$ 327
Net income (loss) per common share — basic	$ 0.07	$ 0.23
Net income (loss) per common share — assuming dilution	$ 0.07	$ 0.23
Weighted-average shares outstanding
Basic	1,427.8	1,418.7
Assuming dilution	1,438.4	1,430.8

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income (loss)	$ 110	$ 341
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(64)	(83)
Net change in derivative financial instruments	23	129
Net change in defined benefit pensions and other items	0	1
Total other comprehensive income (loss)	(41)	47
Total comprehensive income (loss)	$ 69	$ 388

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 325	$ 1,925
Trade accounts receivable, net	1,866	1,778
Inventories	1,736	1,610
Prepaid income taxes	249	205
Other current assets	889	799
Total current assets	5,065	6,317
Property, plant and equipment, net	2,265	2,252
Goodwill	12,949	11,988
Other intangible assets, net	6,581	6,121
Deferred tax assets	4,102	4,142
Other long-term assets	1,375	1,410
TOTAL ASSETS	32,337	32,229
Current liabilities:
Current debt obligations	238	261
Accounts payable	696	794
Accrued expenses	2,306	2,436
Other current liabilities	1,034	783
Total current liabilities	4,275	4,274
Long-term debt	9,067	8,804
Deferred income taxes	261	310
Other long-term liabilities	2,000	2,220
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.01 par value - authorized 50,000,000 shares - issued 10,062,500 shares as of March 31, 2022 and December 31, 2021	0	0
Common stock, $0.01 par value - authorized 2,000,000,000 shares - issued 1,692,828,987 shares as of March 31, 2022 and 1,688,810,052 shares as of December 31, 2021	17	17
Treasury stock, at cost - 263,289,848 shares as of March 31, 2022 and December 31, 2021	(2,251)	(2,251)
Additional paid-in capital	20,043	19,986
Accumulated deficit	(1,296)	(1,392)
Accumulated other comprehensive income (loss), net of tax	222	263
Total stockholders’ equity	16,735	16,622
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 32,337	$ 32,229
Common Stock, Shares, Issued	1,692,828,987	1,688,810,052
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	10,062,500	10,062,500
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000
Common Stock, Shares, Issued	1,692,828,987	1,688,810,052
Treasury Stock, Shares	263,289,848	263,289,848

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Shares, Issued at Dec. 31, 2020		10,062,500	1,679,911,918
Total stockholders' equity at Dec. 31, 2020		$ 0	$ 17	$ (2,251)	$ 19,732	$ (2,378)	$ 207
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issuance (Par value)		$ 0	$ 0
Stock-based compensation (Shares)			3,949,308
Treasury Stock, Value, Acquired, Cost Method				0
Stock-based compensation			$ 0		19
Net income (loss)	$ 341					341
Preferred stock dividends						(14)
Total other comprehensive income (loss)	47						47
Ending Balance (Shares Issued) at Mar. 31, 2021		10,062,500
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 31, 2021	$ 15,719	$ 0	$ 17	(2,251)	19,750	(2,050)	254
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Issued	1,683,861,226
Common Stock, Shares, Issued	1,688,810,052
Shares, Issued at Dec. 31, 2021		10,062,500	1,688,810,052
Total stockholders' equity at Dec. 31, 2021	$ 16,622	$ 0	$ 17	(2,251)	19,986	(1,392)	263
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issuance (Par value)		$ 0	$ 0
Stock-based compensation (Shares)			4,018,935
Treasury Stock, Value, Acquired, Cost Method				0
Stock-based compensation			$ 0		57
Net income (loss)	110					110
Preferred stock dividends						(14)
Total other comprehensive income (loss)	(41)						(41)
Ending Balance (Shares Issued) at Mar. 31, 2022		10,062,500
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Mar. 31, 2022	$ 16,735	$ 0	$ 17	$ (2,251)	$ 20,043	$ (1,296)	$ 222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Issued	1,692,828,987

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash provided by (used for) operating activities
Net income (loss)	$ 110	$ 341
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	0	6
Depreciation and amortization	274	268
Deferred and prepaid income taxes	(75)	(1)
Stock-based compensation expense	52	47
Net loss (gain) on investments and notes receivable	20	(37)
Contingent consideration net expense (benefit)	12	(6)
Inventory step-up amortization	17	8
Foreign exchange (gain) loss	9	2
Gain (Loss) on Extinguishment of Debt	194	0
Other, net	11	22
Trade accounts receivable	(66)	(117)
Inventories	(108)	(115)
Other assets	(140)	(128)
Accounts payable, accrued expenses and other liabilities	(368)	7
Cash provided by (used for) operating activities	(58)	284
Investing activities:
Purchases of property, plant and equipment and internal use software	(121)	(75)
Proceeds from sale of property, plant and equipment	8	4
Payments for acquisitions of businesses, net of cash acquired	(1,471)	(706)
Proceeds from royalty rights	19	22
Proceeds from divestiture of certain businesses and assets	5	801
Proceeds from (payments for) investments and acquisitions of certain technologies	(15)	25
Cash provided by (used for) investing activities	(1,574)	71
Financing activities:
Payment of contingent consideration previously established in purchase accounting	(20)	(11)
Payments for royalty rights	(39)	(42)
Payments on short-term borrowings	(250)	0
Net increase (decrease) in commercial paper	223	0
Payments on long-term borrowings and debt extinguishment costs	(3,184)	0
Proceeds from long-term borrowings, net of debt issuance costs	3,271	0
Cash dividends paid on preferred stock	(14)	(14)
Cash used to net share settle employee equity awards	(46)	(46)
Proceeds from issuances of common stock pursuant to employee stock compensation and purchase plans	52	18
Cash provided by (used for) financing activities	(6)	(95)
Effect of foreign exchange rates on cash	0	(3)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	(1,639)	258
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	2,168	1,995
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	529	2,253
Supplemental Information
Stock-based compensation expense	52	47
Fair value of contingent consideration recorded in purchase accounting	0	219
Non-cash impact of transferred royalty rights	$ (19)	$ (22)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Supplemental Disclosure) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents	$ 325	$ 1,925	$ 2,016
Restricted cash and restricted cash equivalents included in Other current assets	146	188	184
Restricted cash equivalents included in Other long-term assets	59	55	53
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 529	$ 2,168	$ 2,253	$ 1,995

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE A – BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of Boston Scientific Corporation have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and with the instructions to Form 10-Q and Article 10 of Regulation S-X, and they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. When used in this report, the terms, "we," "us," "our," and "the Company" mean Boston Scientific Corporation and its divisions and subsidiaries. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for fair presentation have been included. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Accordingly, our unaudited consolidated financial statements and footnotes thereto should be read in conjunction with our audited consolidated financial statements and footnotes thereto included in Item 8 of our most recent Annual Report on Form 10-K. In the first quarter of 2022, we reorganized our operational structure in order to strengthen our category leadership in the markets we serve and, in particular, benefit our Cardiology customers and patients. Following the reorganization, we have aggregated our core businesses into two reportable segments: MedSurg and Cardiovascular, each of which generates revenues from the sale of medical devices. We have revised prior periods to conform to the current year presentation. Amounts reported in millions within this Quarterly Report on Form 10-Q are computed based on the amounts in thousands. As a result, the sum of the components may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying unrounded amounts. Subsequent Events We evaluate events occurring after the date of our accompanying unaudited consolidated balance sheet for potential recognition or disclosure in our financial statements. Those items requiring recognition in the financial statements have been recorded and disclosed accordingly. Those items requiring disclosure (non-recognized subsequent events) in the financial statements have been disclosed accordingly. Refer to Note H – Commitments and Contingencies and Note I – Stockholders' Equity for further details.

Acquisitions and Strategic Inve

Acquisitions and Strategic Investments	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
ACQUISITIONS AND STRATEGIC INVESTMENTS	NOTE B – ACQUISITIONS, DIVESTITURES AND STRATEGIC INVESTMENTS Our accompanying unaudited consolidated financial statements include the operating results for acquired entities from the respective dates of acquisition. We completed one acquisition in the first quarter of 2022, and one acquisition and one divestiture in the first quarter of 2021. We have not presented supplemental pro forma financial information for completed acquisitions or divestitures given their results are not material to our accompanying unaudited consolidated financial statements. Further, transaction costs were immaterial to our accompanying unaudited consolidated financial statements and were expensed as incurred. 2022 Acquisition On February 14, 2022, we completed our acquisition of Baylis Medical Company Inc. (Baylis Medical), a privately-held company which has developed the radiofrequency (RF) NRG ™ and VersaCross ™ Transseptal Platforms as well as a family of guidewires, sheaths and dilators used to support left heart access, which will expand our electrophysiology and structural heart product portfolios. The transaction consisted of an upfront cash payment of $1.471 billion, net of cash acquired, subject to closing adjustments. We are integrating the Baylis Medical business into our Cardiology division. Purchase Price Allocation The preliminary purchase price was comprised of the amounts presented below, which represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed. The final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, Business Combinations . (in millions) Payment for acquisition, net of cash acquired $ 1,471 $ 1,471 The preliminary purchase price allocation was comprised of the following components: (in millions) Goodwill $ 988 Amortizable intangible assets 657 Other assets acquired 113 Liabilities assumed (280) Net deferred tax liabilities (8) $ 1,471 Goodwill was primarily established due to synergies expected to be gained from leveraging our existing operations, as well as revenue and cash flow projections associated with future technologies and is not deductible for tax purposes. We allocated a portion of the preliminary purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 622 11 11% Other intangible assets 36 11 11% $ 657 2021 Acquisition On March 1, 2021, we completed the acquisition of Preventice Solutions, Inc. (Preventice), a privately-held company which offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors, to cardiac event monitors and mobile cardiac telemetry. The transaction consisted of an upfront cash payment of $925 million and up to an additional $300 million in a potential commercial milestone payment. We had been an investor in Preventice since 2015 and held an equity stake of approximately 22 percent immediately prior to the acquisition date. We remeasured the fair value of our previously-held investment based on the allocation of the purchase price according to priority of equity interests, which resulted in a $195 million gain recognized within Other, net in the first quarter of 2021. The transaction price for the remaining stake consisted of an upfront cash payment of $706 million, net of cash acquired, and up to approximately $230 million in a potential additional revenue-based milestone payment. The Preventice business is being managed by our Cardiology division. Purchase Price Allocation We accounted for the acquisition of Preventice as a business combination, and in accordance with FASB ASC Topic 805, Business Combinations , we recorded the assets acquired and liabilities assumed at their respective fair values as of the acquisition date. The final purchase price was comprised of the following components: (in millions) Payment for acquisition, net of cash acquired $ 706 Fair value of contingent consideration 221 Fair value of prior interest 269 $ 1,197 (in millions) Goodwill $ 926 Amortizable intangible assets 237 Other assets acquired 65 Liabilities assumed (32) $ 1,197 We allocated a portion of the purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 215 9 10% Other intangible assets 22 8 10% $ 237 Goodwill was primarily established due to synergies expected to be gained from leveraging our existing operations, as well as revenue and cash flow projections associated with future technologies and is not deductible for tax purposes. 2021 Divestiture On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business to Stark International Lux S.A.R.L., and SERB SAS, affiliates of SERB, a European specialty pharmaceutical group, for a purchase price of approximately $800 million, subject to certain adjustments including cash on hand at the closing of the transaction. The agreement included the transfer of five facilities and approximately 280 employees globally. In the first quarter of 2021, we recognized a $6 million Gain on disposal of businesses and assets associated with the transaction within our accompanying unaudited consolidated statements of operations. Refer to Note C – Assets and Liabilities Held for Sale to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for additional information. Contingent Consideration Changes in the fair value of our contingent consideration liability during the first quarter of 2022 were as follows: (in millions) Balance as of December 31, 2021 $ 486 Contingent consideration net expense (benefit) 12 Contingent consideration payments (41) Balance as of March 31, 2022 $ 456 As of March 31, 2022, the maximum amount of future contingent consideration (undiscounted) that we could be required to pay associated with our completed acquisitions was $964 million. The recurring Level 3 fair value measurements of our contingent consideration liability that we expect to be required to settle include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of March 31, 2022 Valuation Technique Unobservable Input Range Weighted Average (1) R&D, Regulatory and Commercialization-based Milestones $147 million Discounted Cash Flow Discount Rate 1% - 2% 1% Probability of Payment 80% - 100% 92% Projected Year of Payment 2022 - 2024 2023 Revenue-based Payments $308 million Discounted Cash Flow Discount Rate 4% - 14% 6% Probability of Payment 100% 100% Projected Year of Payment 2022 - 2024 2022 (1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected year of payment, the amount represents the median of the inputs and is not a weighted average. Projected contingent payment amounts related to research and development (R&D), regulatory and commercialization-based and revenue-based milestones are discounted back to the current period, primarily using a discounted cash flow model. Significant increases or decreases in projected revenues, probabilities of payment, discount rates or the time until payment is made would have resulted in a significantly lower or higher fair value measurement as of March 31, 2022. Strategic Investments The aggregate carrying amount of our strategic investments was comprised of the following: As of (in millions) March 31, 2022 December 31, 2021 Equity method investments $ 226 $ 259 Measurement alternative investments (1) 165 142 Publicly-held securities (2) 8 10 Notes receivable 7 — $ 406 $ 412 (1) Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less impairment, if any, adjusted to fair value for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, recognized in Other, net within our accompanying unaudited consolidated statements of operations. (2) Publicly-held securities are measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations. These investments are classified as Other long-term assets within our accompanying unaudited consolidated balance sheets, in accordance with U.S. GAAP and our accounting policies.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE C – GOODWILL AND OTHER INTANGIBLE ASSETS The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for intangible assets subject to amortization and accumulated goodwill impairment charges are as follows: As of March 31, 2022 As of December 31, 2021 (in millions) Gross Carrying Amount Accumulated Amortization/ Write-offs Gross Carrying Amount Accumulated Amortization/ Write-offs Technology-related $ 12,559 $ (6,918) $ 11,957 $ (6,754) Patents 489 (393) 494 (398) Other intangible assets 1,946 (1,347) 1,900 (1,325) Amortizable intangible assets $ 14,994 $ (8,659) $ 14,351 $ (8,476) Goodwill $ 22,849 $ (9,900) $ 21,888 $ (9,900) IPR&D $ 126 $ 126 Technology-related 120 120 Indefinite-lived intangible assets $ 246 $ 246 The increase in our balance of goodwill and intangible assets is primarily related to our acquisition of Baylis Medical completed in the first quarter of 2022. The following represents our goodwill balance by global reportable segment: (in millions) MedSurg Cardiovascular Total As of December 31, 2021 $ 4,246 $ 7,741 $ 11,988 Impact of foreign currency fluctuations and other changes in carrying value (2) (24) (27) Goodwill acquired — 988 988 As of March 31, 2022 $ 4,244 $ 8,705 $ 12,949 In the first quarter of 2022, we reorganized our operational structure in order to strengthen our category leadership in the markets we serve and, in particular, benefit our Cardiology customers and patients. Following the reorganization, we have aggregated our core businesses into two reportable segments: MedSurg and Cardiovascular, each of which generates revenues from the sale of medical devices. We have revised prior periods to conform to the current year presentation. We did not record any goodwill or intangible asset impairment charges in the first quarter of 2022 or 2021. Refer to Note A – Basis of Presentation to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for further discussion of our annual goodwill and intangible asset impairment testing.

Hedging Activities and Fair Val

Hedging Activities and Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS	NOTE D – HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS Derivative Instruments and Hedging Activities We address market risk from changes in foreign currency exchange rates and interest rates through risk management programs which include the use of derivative and nonderivative financial instruments. We manage concentration of counterparty credit risk by limiting acceptable counterparties to major financial institutions with investment grade credit ratings, limiting the amount of credit exposure to individual counterparties and by actively monitoring counterparty credit ratings. We also employ master netting arrangements that limit the risk of counterparty non-payment on a particular settlement date to the net gain that would have otherwise been received from the counterparty. Although not completely eliminated, we do not consider the risk of counterparty default to be significant as a result of these protections. Further, none of our derivative instruments are subject to collateral or other security arrangements, nor do they contain provisions that are dependent on our credit ratings from any credit rating agency. Currency Hedging Instruments Our risk from changes in currency exchange rates consists primarily of monetary assets and liabilities, forecasted intercompany and third-party transactions, and net investments in certain subsidiaries. We manage currency exchange rate risk at a consolidated level to reduce the cost of hedging by taking advantage of offsetting transactions. We employ derivative and nonderivative instruments, primarily forward currency contracts, to reduce the risk to our earnings and cash flows associated with changes in currency exchange rates. The success of our currency risk management program depends, in part, on forecast transactions denominated primarily in euro, Japanese yen, Chinese renminbi and Australian dollar. We may experience unanticipated currency exchange gains or losses to the extent the actual activity is different than forecast. In addition, changes in currency exchange rates related to any unhedged transactions may impact our earnings and cash flows. Certain of our currency derivative instruments are designated as cash flow hedges under FASB ASC Topic 815 , Derivatives and Hedging (FASB ASC Topic 815), and are intended to protect the U.S. dollar value of forecasted transactions. We designate certain euro-denominated debt as net investment hedges to hedge a portion of our net investments in certain of our entities with functional currencies denominated in the Euro. As of March 31, 2022 and December 31, 2021, we designated as a net investment hedge a portion of our €900 million in aggregate principal amount of 0.625% euro-denominated senior notes issued in November 2019 and due in 2027 (2027 Notes). For these nonderivative instruments, we defer recognition of the foreign currency remeasurement gains and losses within the CTA component of OCI . We reclassify these gains and losses to current period earnings within Other, net in our accompanying unaudited consolidated statements of operations only when the hedged item affects earnings, which would occur upon disposal or substantial liquidation of the underlying foreign subsidiary. We also use forward currency contracts that are not part of designated hedging relationships as a part of our strategy to manage our exposure to currency exchange rate risk related to monetary assets and liabilities and related forecast transactions. These non-designated currency forward contracts have an original time to maturity consistent with the hedged currency transaction exposures, generally less than one year, and are marked-to-market with changes in fair value recorded to earnings within Other, net within our accompanying unaudited consolidated statements of operations. Interest Rate Hedging Instruments Our interest rate risk relates primarily to U.S. dollar borrowings partially offset by U.S. dollar cash investments. We use interest rate derivative instruments to mitigate the risk to our earnings and cash flows associated with exposure to changes in interest rates. Under these agreements, we and the counterparty, at specified intervals, exchange the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. We designate these derivative instruments either as fair value or cash flow hedges in accordance with FASB ASC Topic 815. We had no interest rate derivative instruments designated as cash flow hedges outstanding as of March 31, 2022 or December 31, 2021. Prior to 2020, we terminated interest rate derivative instruments that were designated as cash flow hedges and are continuing to recognize the amortization of the gains or losses originally recorded within AOCI to earnings as a component of Interest expense over the same period that the hedged item affects earnings, provided the hedge relationship remains effective. If we determine the hedge relationship is no longer effective, or if the occurrence of the hedged forecast transaction becomes no longer probable, we reclassify the amount of gains or losses from AOCI to earnings at that time. In the event that we designate outstanding interest rate derivative instruments as cash flow hedges, we record the changes in the fair value of the derivatives within OCI until the underlying hedged transaction occurs. The balance of the deferred amounts on our terminated cash flow hedges within AOCI was a $10 million loss as of March 31, 2022 and a $24 million loss as of December 31, 2021. The following table presents the contractual amounts of our hedging instruments outstanding: (in millions) FASB ASC Topic 815 Designation As of March 31, 2022 December 31, 2021 Forward currency contracts Cash flow hedge $ 3,897 $ 3,996 Forward currency contracts Net investment hedge 493 493 Foreign currency-denominated debt (1) Net investment hedge 997 997 Forward currency contracts Non-designated 4,022 3,892 Total Notional Outstanding $ 9,409 $ 9,378 (1) Foreign currency-denominated debt is the portion of the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge. The remaining time to maturity as of March 31, 2022 is within 60 months for all forward currency contracts designated as cash flow hedges and generally less than one year for all non-designated forward currency contracts. The forward currency contracts designated as net investment hedges generally mature within the next year. The euro-denominated debt principal designated as a net investment hedge has a contractual maturity of December 1, 2027. The following presents the effect of our derivative and nonderivative instruments designated as cash flow and net investment hedges under FASB ASC Topic 815 in our accompanying unaudited consolidated statements of operations. Refer to Note M – Changes in Other Comprehensive Income for the total amounts relating to derivative and nonderivative instruments presented within our accompanying unaudited consolidated statements of comprehensive income (loss). Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2022 Forward currency contracts Cash flow hedges $ 45 $ (10) $ 35 Cost of products sold $ 955 $ (30) $ 7 $ (23) Net investment hedges (2) 15 (3) 11 Interest expense 279 (2) — (2) Foreign currency-denominated debt Net investment hedges (3) 24 (5) 18 Other, net 31 — — — Interest rate derivative contracts Cash flow hedges — — — Interest expense 279 14 (3) 11 Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2021 Forward currency contracts Cash flow hedges $ 171 $ (39) $ 133 Cost of products sold $ 894 $ (6) $ 1 $ (5) Net investment hedges (2) 52 (12) 40 Interest expense 82 (6) 1 (5) Foreign currency-denominated debt Net investment hedges (3) 48 (11) 37 Other, net (37) — — — Interest rate derivative contracts Cash flow hedges — — — Interest Expense 82 1 — 1 (1) In all periods presented in the table above, the pre-tax (gain) loss amounts reclassified from AOCI to earnings represent the effect of the hedging relationships on earnings. (2) For our outstanding forward currency contracts designated as net investment hedges, the net gain or loss reclassified from AOCI to earnings as a reduction of Interest expense represents the straight-line amortization of the excluded component as calculated at the date of designation. This initial value of the excluded component has been excluded from the assessment of effectiveness in accordance with FASB ASC Topic 815. In the current and prior period, we did not recognize any gains or losses on the components included in the assessment of hedge effectiveness in earnings. (3) For our outstanding euro-denominated debt principal designated as a net investment hedge, the change in fair value attributable to changes in the spot rate is recorded in the CTA component of OCI . No amounts were reclassified from AOCI to current period earnings. As of March 31, 2022, pre-tax net gains or losses for our derivative instruments designated, or previously designated, as cash flow and net investment hedges under FASB ASC Topic 815 that may be reclassified from AOCI to earnings within the next twelve months are presented below (in millions): Designated Hedging Instrument FASB ASC Topic 815 Designation Location on Unaudited Consolidated Statements of Operations Amount of Pre-Tax Gain (Loss) that may be Reclassified to Earnings Forward currency contracts Cash flow hedge Cost of products sold $ 159 Forward currency contracts Net investment hedge Interest expense 1 Interest rate derivative contracts Cash flow hedge Interest expense (3) Net gains and losses on currency hedge contracts not designated as hedging instruments offset by net gains and losses from currency transaction exposures are presented below: Location on Unaudited Consolidated Statements of Operations Three Months Ended March 31, (in millions) 2022 2021 Net gain (loss) on currency hedge contracts Other, net $ (29) $ (1) Net gain (loss) on currency transaction exposures Other, net 21 (1) Net currency exchange gain (loss) $ (9) $ (2) Fair Value Measurements FASB ASC Topic 815 requires all derivative and nonderivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet. We determine the fair value of our derivative and nonderivative instruments using the framework prescribed by FASB ASC Topic 820, Fair Value Measurements and Disclosures and considering the estimated amount we would receive or pay to transfer these instruments at the reporting date with respect to current currency exchange rates, interest rates, the creditworthiness of the counterparty for unrealized gain positions and our own creditworthiness for unrealized loss positions. In certain instances, we may utilize financial models to measure fair value of our derivative and nonderivative instruments. In doing so, we use inputs that include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, other observable inputs for the asset or liability and inputs derived principally from, or corroborated by, observable market data by correlation or other means. The following are the balances of our derivative and nonderivative assets and liabilities: Location on Unaudited Consolidated Balance Sheets (1) As of (in millions) March 31, 2022 December 31, 2021 Derivative and Nonderivative Assets: Designated Hedging Instruments Forward currency contracts Other current assets $ 228 $ 183 Forward currency contracts Other long-term assets 155 169 384 352 Non-Designated Hedging Instruments Forward currency contracts Other current assets 38 42 Total Derivative and Nonderivative Assets $ 422 $ 394 Derivative and Nonderivative Liabilities: Designated Hedging Instruments Forward currency contracts Other current liabilities $ 31 $ 32 Forward currency contracts Other long-term liabilities 9 6 Foreign currency-denominated debt (2) Long-term debt 988 1,011 1,028 1,049 Non-Designated Hedging Instruments Forward currency contracts Other current liabilities 40 22 Total Derivative and Nonderivative Liabilities $ 1,067 $ 1,071 (1) We classify derivative and nonderivative assets and liabilities as current when the settlement date of the contract is one year or less. (2) Foreign currency-denominated debt is the portion of the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge. A portion of this notional is subject to de-designation and re-designation based on changes in the underlying hedged item. Recurring Fair Value Measurements On a recurring basis, we measure certain financial assets and financial liabilities at fair value based upon quoted market prices. Where quoted market prices or other observable inputs are not available, we apply valuation techniques to estimate fair value. FASB ASC Topic 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The category of a financial asset or a financial liability within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows: • Level 1 – Inputs to the valuation methodology are quoted market prices for identical assets or liabilities. • Level 2 – Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs. • Level 3 – Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. Assets and liabilities measured at fair value on a recurring basis consist of the following: As of March 31, 2022 December 31, 2021 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds and time deposits $ 25 $ — $ — $ 25 $ 1,632 $ — $ — $ 1,632 Publicly-held equity securities 8 — — 8 10 — — 10 Hedging instruments — 422 — 422 — 394 — 394 Licensing arrangements — — 215 215 — — 246 246 $ 33 $ 422 $ 215 $ 670 $ 1,642 $ 394 $ 246 $ 2,282 Liabilities Hedging instruments $ — $ 1,067 $ — $ 1,067 $ — $ 1,071 $ — $ 1,071 Contingent consideration liability — — 456 456 — — 486 486 Licensing arrangements — — 231 231 — — 281 281 $ — $ 1,067 $ 687 $ 1,754 $ — $ 1,071 $ 767 $ 1,838 Our investments in money market funds and time deposits are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. These investments are classified as Cash and cash equivalents within our accompanying unaudited consolidated balance sheets, in accordance with U.S. GAAP and our accounting policies. In addition to $25 million invested in money market funds and time deposits as of March 31, 2022 and $1.632 billion as of December 31, 2021, we held $299 million in interest-bearing and non-interest-bearing bank accounts as of March 31, 2022 and $293 million as of December 31, 2021. Our recurring fair value measurements using Level 3 inputs include those related to our contingent consideration liability. Refer to Note B – Acquisitions, Divestitures and Strategic Investments for a discussion of the changes in the fair value of our contingent consideration liability. In addition, our recurring fair value measurements using Level 3 inputs related to our licensing arrangements, including the contractual right to receive future royalty payments related to the Zytiga™ Drug. We maintain a financial asset and associated liability for our licensing arrangements measured at fair value in our accompanying unaudited consolidated balance sheets in accordance with FASB ASC Topic 825, Financial Instruments . Refer to Note E – Hedging Activities and Fair Value Measurements to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for additional information. The recurring Level 3 fair value measurements of our licensing arrangements recognized in our accompanying unaudited consolidated balance sheets as of March 31, 2022 include the following significant unobservable inputs: Licensing Arrangements Fair Value as of March 31, 2022 Valuation Technique Unobservable Input Range Weighted Average (1) Financial Asset $215 million Discounted Cash Flow Discount Rate 15% 15% Projected Year of Payment 2022 - 2025 2023 Financial Liability $231 million Discounted Cash Flow Discount Rate 12 % - 15% 13% Projected Year of Payment 2022 - 2026 2024 (1) Unobservable inputs relate to a single financial asset and liability. As such, unobservable inputs were not weighted by the relative fair value of the instruments. For projected year of payment, the amount represents the median of the inputs and is not a weighted average. Changes in the fair value of our licensing arrangements' financial asset were as follows: (in millions) Balance as of December 31, 2021 $ 246 Proceeds from royalty rights (39) Fair value adjustment (expense) benefit 8 Balance as of March 31, 2022 $ 215 Changes in the fair value of our licensing arrangements' financial liability were as follows: (in millions) Balance as of December 31, 2021 $ 281 Payments for royalty rights (58) Fair value adjustment expense (benefit) 8 Balance as of March 31, 2022 $ 231 Non-Recurring Fair Value Measurements We hold certain assets and liabilities that are measured at fair value on a non-recurring basis in periods after initial recognition. The fair value of a measurement alternative investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. Refer to Note B – Acquisitions, Divestitures and Strategic Investments for a discussion of our strategic investments and Note C – Goodwill and Other Intangible Assets for a discussion of the fair values of our intangible assets including goodwill. The fair value of our outstanding debt obligations was $9.539 billion as of March 31, 2022 and $10.196 billion as of December 31, 2021. We determined fair value by using quoted market prices for our publicly registered senior notes, classified as Level 1 within the fair value hierarchy, and face value for commercial paper, term loans and credit facility borrowings outstanding. Refer to Note E – Contractual Obligations and Commitments for a discussion of our debt obligations.

Contractual Obligations and Com

Contractual Obligations and Commitments	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
CONTRACTUAL OBLIGATIONS AND COMMITMENTS	The debt maturity schedule for our long-term debt obligations is presented below: (in millions, except interest rates) Issuance Date Maturity Date As of Coupon Rate (1) March 31, December 31, October 2023 Senior Notes (4) August 2013 October 2023 — 244 4.125% March 2024 Senior Notes (4) February 2019 March 2024 504 850 3.450% March 2025 Senior Notes (3) March 2022 March 2025 1,108 — 0.750% May 2025 Senior Notes (4) May 2015 May 2025 — 523 3.850% June 2025 Senior Notes May 2020 June 2025 500 500 1.900% March 2026 Senior Notes (4) February 2019 March 2026 255 850 3.750% December 2027 Senior Notes (3) November 2019 December 2027 997 1,021 0.625% March 2028 Senior Notes (3) March 2022 March 2028 831 — 1.375% March 2028 Senior Notes (4) February 2018 March 2028 344 434 4.000% March 2029 Senior Notes (4) February 2019 March 2029 272 850 4.000% June 2030 Senior Notes May 2020 June 2030 1,200 1,200 2.650% March 2031 Senior Notes (3) March 2022 March 2031 831 — 1.625% March 2034 Senior Notes (3) March 2022 March 2034 554 — 1.875% November 2035 Senior Notes (2) November 2005 November 2035 350 350 6.750% March 2039 Senior Notes (4) February 2019 March 2039 450 750 4.550% January 2040 Senior Notes December 2009 January 2040 300 300 7.375% March 2049 Senior Notes (4) February 2019 March 2049 650 1,000 4.700% Unamortized Debt Issuance Discount and Deferred Financing Costs 2023 - 2049 (85) (76) Unamortized Gain on Fair Value Hedges 2022 — 3 Finance Lease Obligation Various 6 6 Long-term debt $ 9,067 $ 8,804 Note: The table above does not include unamortized amounts related to interest rate contracts designated as cash flow hedges. (1) Coupon rates are semi-annual, except for the euro-denominated senior notes, which bear an annual coupon. (2) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that our lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 Notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. (3) These notes are euro-denominated and presented in U.S. dollars based on the exchange rate in effect as of March 31, 2022 and December 31, 2021, respectively. (4) Amounts repaid, or partially repaid as the case may be, in connection with the March 2022 tender offer and early redemption of certain of our outstanding senior notes are described below. In addition, we repaid $250 million of 3.375% May 2022 Senior Notes classified within Current Debt Obligations within our consolidated balance sheets as of December 31, 2021. Revolving Credit Facility On May 10, 2021, we entered into a new $2.750 billion revolving credit facility (2021 Revolving Credit Facility) with a global syndicate of commercial banks and terminated our previous facility (2018 Revolving Credit Facility). The 2021 Revolving Credit Facility will mature on May 10, 2026, with one-year extension options, subject to certain conditions. This facility provides backing for our commercial paper program, and outstanding commercial paper directly reduces borrowing capacity under the 2021 Revolving Credit Facility. There were no amounts outstanding under the 2021 Revolving Credit Facility as of March 31, 2022 or December 31, 2021. Financial Covenant As of March 31, 2022, we were in compliance with the financial covenant required by the 2021 Revolving Credit Facility. Covenant Requirement Actual as of March 31, 2022 as of March 31, 2022 Maximum permitted leverage ratio (1) 3.75 times 2.72 times (1) Ratio of total debt to consolidated EBITDA, as defined by the credit agreements, as amended. The 2021 Revolving Credit Facility includes the financial covenant requirement for all of our credit arrangements that we maintain the maximum permitted leverage ratio of 3.75 times through the remaining term. The agreement provides for higher leverage ratios for the period following a qualified acquisition, at our election, for which consideration exceeds $1.000 billion. In the event of such an acquisition, for the four succeeding quarters immediately following, including the quarter in which the acquisition occurs, the maximum permitted leverage ratio is 4.75 times. The maximum permitted ratio steps down for the fifth, sixth and seventh succeeding quarters to 4.50 times, 4.25 times and 4.00 times, respectively. Thereafter, a maximum leverage ratio of 3.75 times is required through the remaining term of the 2021 Revolving Credit Facility. We have not elected to increase the maximum permitted leverage ratio for the recently completed qualified acquisitions due to the funding using cash on hand. The financial covenant requirement provides for an exclusion from the calculation of consolidated EBITDA, as defined by the agreement, through maturity, of any non-cash charges and up to $500 million in restructuring charges and restructuring-related expenses related to our current or future restructuring plans. As of March 31, 2022, we had $347 million of the restructuring charge exclusion remaining. In addition, any cash litigation payments (net of any cash litigation receipts), as defined by the agreements, are excluded from the calculation of consolidated EBITDA, as defined by the agreements, provided that the sum of any excluded net cash litigation payments do not exceed $1.455 billion in the aggregate. As of March 31, 2022, we had $1.108 billion of the litigation exclusion remaining. Any inability to maintain compliance with this covenant could require us to seek to renegotiate the terms of our credit arrangements or seek waivers from compliance with this covenant, both of which could result in additional borrowing costs. Further, there can be no assurance that our lenders would agree to such new terms or grant such waivers on terms acceptable to us. In this case, all 2021 Revolving Credit Facility commitments would terminate, and any amounts borrowed under the facility would become immediately due and payable. Furthermore, any termination of our 2021 Revolving Credit Facility may negatively impact the credit ratings assigned to our commercial paper program, which may impact our ability to refinance any then outstanding commercial paper as it becomes due and payable . Commercial Paper Our commercial paper program is backed by the 2021 Revolving Credit Facility, as discussed above, and outstanding commercial paper directly reduces borrowing capacity under the 2021 Revolving Credit Facility. We had $223 million of commercial paper outstanding as of March 31, 2022 and none as of December 31, 2021. As of (in millions, except maturity and yield) March 31, 2022 December 31, 2021 Commercial paper outstanding (at par) $ 223 $ — Maximum borrowing capacity 2,750 2,750 Borrowing capacity available 2,527 2,750 Weighted average maturity 7 days 0 days Weighted average yield 0.76 % — % Senior Notes We had senior notes outstanding of $9.146 billion as of March 31, 2022 and $9.121 billion as of December 31, 2021. Our senior notes were issued in public offerings, are redeemable prior to maturity and are not subject to sinking fund requirements. Our senior notes are unsecured, unsubordinated obligations and rank on parity with each other. These notes are effectively junior to liabilities of our subsidiaries (refer to Other Arrangements below). In March 2022, American Medical Systems Europe B.V. (AMS Europe), an indirect, wholly owned subsidiary of Boston Scientific, completed a registered public offering (the Offering) of €3.000 billion in aggregate principal amount of euro-dominated senior notes comprised of €1.000 billion of 0.750% Senior Notes due 2025, €750 million of 1.375% Senior Notes due 2028, €750 million of 1.625% Senior Notes due 2031 and €500 million of 1.875% Senior Notes due 2034 (collectively, the Eurobonds). Boston Scientific has fully and unconditionally guaranteed all of AMS Europe's obligations under the Eurobonds, and no other subsidiary of Boston Scientific will guarantee these obligations. AMS Europe is a “finance subsidiary” as defined in Rule 13-01(a)(4)(vi) of Regulation S-X. The financial condition, results of operations and cash flows of AMS Europe are consolidated in the financial statements of Boston Scientific. The Offering resulted in cash proceeds of $3.271 billion, net of investor discounts and issuance costs. We used the net proceeds from the Offering to fund the tender offer and early redemption of combined aggregate principal amount of $3.275 billion of certain of our outstanding senior notes, as well as to pay accrued interest, tender premiums, fees and expenses. We recorded associated debt extinguishment charges of $194 million presented in Interest expense within our accompanying unaudited consolidated statements of operations. Other Arrangements We have accounts receivable factoring programs in certain European countries and with commercial banks in China and Japan which include promissory notes discounting programs. We account for our factoring programs as sales under FASB ASC Topic 860, Transfers and Servicing . We have no retained interest in the transferred receivables, other than collection and administration, and once sold, the accounts receivable are no longer available to satisfy creditors in the event of bankruptcy. Amounts de-recognized for accounts and notes receivable, which are excluded from Trade accounts receivable, net within our accompanying unaudited consolidated balance sheets, are aggregated by contract denominated currency below (in millions): Factoring Arrangements As of March 31, 2022 As of December 31, 2021 Amount Weighted Average Amount Weighted Average Euro denominated $ 140 1.3 % $ 141 2.1 % Yen denominated 190 0.5 % 223 0.6 % Renminbi denominated — 3.1 % — 3.2 % Other Contractual Obligations and Commitments We had outstanding letters of credit of $132 million as of March 31, 2022 and $134 million as of December 31, 2021, which consisted primarily of bank guarantees and collateral for workers' compensation insurance arrangements. As of March 31, 2022 and December 31, 2021, none of the beneficiaries had drawn upon the letters of credit or guarantees, and accordingly, we have not recognized a related liability for our outstanding letters of credit within our accompanying unaudited consolidated balance sheets as of March 31, 2022 and December 31, 2021. Refer to Note F – Contractual Obligations and Commitments to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for additional information on our borrowings and credit agreements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2022
Supplemental Balance Sheet Information [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	NOTE F – SUPPLEMENTAL BALANCE SHEET INFORMATION Components of selected captions within our accompanying unaudited consolidated balance sheets are as follows: Trade accounts receivable, net As of (in millions) March 31, 2022 December 31, 2021 Trade accounts receivable $ 1,979 $ 1,886 Allowance for credit losses (113) (108) $ 1,866 $ 1,778 The following is a roll forward of our Allowance for credit losses : Three Months Ended March 31, (in millions) 2022 2021 Beginning balance $ 108 $ 105 Credit loss expense 11 2 Write-offs (5) (6) Ending balance $ 113 $ 101 In accordance with FASB ASC Topic 326, we record credit loss reserves to Allowance for credit losses when we establish Trade accounts receivable if credit losses are expected over the asset's contractual life. We base our estimates of credit loss reserves on historical experience and adjust, as necessary, to reflect current conditions using reasonable and supportable forecasts not already reflected in the historical loss information. We utilize an accounts receivable aging approach to determine the reserve to record at accounts receivable commencement for certain customers, applying country or region-specific factors. In performing the assessment of outstanding accounts receivable, regardless of country or region, we may consider significant factors relevant to collectability, including those specific to a customer such as bankruptcy, lengthy average payment cycles and type of account. We closely monitor outstanding receivables for potential collection risks, including those that may arise from economic and geopolitical conditions. Our sales to government-owned or supported customers, particularly in southern Europe, are subject to an increased number of days outstanding prior to payment relative to other entities, and, in southern Europe, relative to those in other countries. More recently, we have seen an increase in the volume of our U.S. business conducted in ambulatory surgery centers and office-based laboratories. Many of these customers are smaller than those we have historically done business with and may have more limited liquidity. We have adjusted our estimates of credit loss reserves for these customers, regions and conditions based on collection trends. Inventories As of (in millions) March 31, 2022 December 31, 2021 Finished goods $ 1,095 $ 1,029 Work-in-process 142 128 Raw materials 499 452 $ 1,736 $ 1,610 Other current assets As of (in millions) March 31, 2022 December 31, 2021 Restricted cash and restricted cash equivalents $ 146 $ 188 Derivative assets 266 226 Licensing arrangements 114 132 Other 363 254 $ 889 $ 799 Property, plant and equipment, net As of (in millions) March 31, 2022 December 31, 2021 Land $ 120 $ 109 Buildings and improvements 1,415 1,335 Equipment, furniture and fixtures 3,492 3,475 Capital in progress 539 605 5,565 5,525 Less: accumulated depreciation 3,300 3,273 $ 2,265 $ 2,252 Depreciation expense was $76 million for the first quarter of 2022 and $83 million for the first quarter of 2021. Other long-term assets As of (in millions) March 31, 2022 December 31, 2021 Restricted cash equivalents $ 59 $ 55 Operating lease right-of-use assets 424 435 Derivative assets 155 169 Investments 406 412 Licensing arrangements 101 114 Other 230 225 $ 1,375 $ 1,410 Accrued expenses As of (in millions) March 31, 2022 December 31, 2021 Legal reserves $ 279 $ 264 Payroll and related liabilities 705 848 Rebates 329 350 Contingent consideration 393 289 Other 601 686 $ 2,306 $ 2,436 Other current liabilities As of (in millions) March 31, 2022 December 31, 2021 Deferred revenue $ 212 $ 208 Licensing arrangements 122 138 Taxes payable 459 209 Other 241 228 $ 1,034 $ 783 Other long-term liabilities As of (in millions) March 31, 2022 December 31, 2021 Accrued income taxes $ 451 $ 442 Legal reserves 230 284 Contingent consideration 63 197 Licensing arrangements 109 143 Operating lease liabilities 378 389 Deferred revenue 279 276 Other 490 489 $ 2,000 $ 2,220

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE G – INCOME TAXES Our effective tax rate from continuing operations is presented below: Three Months Ended March 31, 2022 2021 Effective tax rate from continuing operations 29.1 % (4.9) % The change in our reported tax rate for the first quarter of 2022, as compared to the same period in 2021, relates primarily to the impact of certain receipts and charges that are taxed at different rates than our effective tax rate. These receipts and charges include acquisition/divestiture-related net charges, receipts on sales of investments, as well as certain discrete tax items primarily related to unrecognized tax benefits and foreign return-to-provision adjustments. As of March 31, 2022, we had $262 million of gross unrecognized tax benefits, of which a net $183 million, if recognized, would affect our effective tax rate. As of December 31, 2021, we had $255 million of gross unrecognized tax benefits, of which a net $177 million, if recognized, would affect our effective tax rate. The change in our gross unrecognized tax benefit is primarily related to positions on new entities we acquired through recent acquisitions and restructuring activities. It is reasonably possible that within the next 12 months, we will resolve multiple issues with foreign, federal and state taxing authorities, resulting in a reduction in our balance of unrecognized tax benefits of up to $54 million.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE H – COMMITMENTS AND CONTINGENCIES The medical device market in which we participate is largely technology driven. As a result, intellectual property rights, particularly patents and trade secrets, play a significant role in product development and differentiation. In the normal course of business, product liability, securities and commercial claims are asserted against us. Similar claims may be asserted against us in the future related to events not known to management at the present time. In addition, like other companies in the medical device industry, we are subject to extensive regulation by national, state and local government agencies in the U.S. and other countries in which we operate. From time to time we are the subject of qui tam actions and governmental investigations often involving regulatory, marketing and other business practices. These qui tam actions and governmental investigations could result in the commencement of civil and criminal proceedings, substantial fines, penalties and administrative remedies and have a material adverse effect on our financial position, results of operations and/or liquidity. For additional information, refer to Note K – Commitments and Contingencies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K. In accordance with FASB ASC Topic 450, Contingencies , we accrue anticipated costs of settlement, damages, losses for product liability claims and, under certain conditions, costs of defense, based on historical experience or to the extent specific losses are probable and estimable. Otherwise, we expense these costs as incurred. If the estimate of a probable loss is a range and no amount within the range is more likely, we accrue the minimum amount of the range. We record certain legal and product liability charges, credits and costs of defense, which we consider to be unusual or infrequent and significant as Litigation-related net charges (credits) within our accompanying unaudited consolidated financial statements. All other legal and product liability charges, credits and costs are recorded within Selling, general and administrative expenses within our accompanying unaudited consolidated statements of operations. We continue to assess certain litigation and claims to determine the amounts, if any, that management believes will be paid as a result of such claims and litigation and, therefore, additional losses may be accrued and paid in the future, which could materially adversely impact our operating results, cash flows and/or our ability to comply with our financial covenant. Our accrual for legal matters that are probable and estimable was $509 million as of March 31, 2022 and $548 million as of December 31, 2021 and includes certain estimated costs of settlement, damages and defense primarily related to product liability cases or claims related to our transvaginal surgical mesh products. A portion of this accrual is already funded through our qualified settlement fund (QSF), which is included in restricted cash and restricted cash equivalents in Other current assets of $146 million as of March 31, 2022 and $188 million as of December 31, 2021. Refer to Note F – Supplemental Balance Sheet Information for additional information. We did not record any litigation-related net charges during the first quarter of 2022 and recorded $4 million during the first quarter of 2021. During recent years, we successfully negotiated closure of several long-standing legal matters and have received favorable rulings in several other matters; however, there continues to be outstanding intellectual property litigation. Adverse outcomes in one or more of these matters could have a material adverse effect on our ability to sell certain products and on our operating margins, financial position, results of operations and/or liquidity. In management's opinion, we are not currently involved in any legal proceedings other than those disclosed in our most recent Annual Report on Form 10-K and those specifically identified below, which, individually or in the aggregate, could have a material adverse effect on our financial condition, operations and/or cash flows. Unless included in our legal accrual or otherwise indicated below, a range of loss associated with any individual material legal proceeding cannot be reasonably estimated. Patent Litigation On October 28, 2015, the Company filed suit against Cook Group Limited and Cook Medical LLC (collectively, Cook) in the United States District Court for the District of Delaware (1:15-cv-00980) alleging infringement of certain Company patents regarding Cook’s Instinct™ Endoscopic Hemoclip. The Company seeks lost profits, a reasonable royalty and a permanent injunction. The case was transferred to the District Court for the Southern District of Indiana. Cook filed Inter Partes Review (IPR) requests with the U.S. Patent and Trademark Office (USPTO) against the four asserted patents, which resulted in the court staying the case until 2020. All IPRs have concluded and confirmed the validity of certain claims of each patent. The case is proceeding before the United States District Court for the Southern District of Indiana, with the Company asserting three patents against Cook. Trial is anticipated in February 2023. The Company has also asserted patents against Cook in Germany, the Netherlands, and the United Kingdom. In January 2022, the Düsseldorf Regional Court, Patent Litigation Chamber ruled that Cook’s Instinct Endoscopic Clip technology infringes the Company’s patent, EP 3 023 061. The Düsseldorf Court granted an ex parte preliminary injunction giving the Company the right to enjoin Cook (Cook Medical EUDC GmbH, Germany, Cook Deutschland GmbH, Germany and Cook Medical Europe Ltd., Ireland) from offering and selling Instinct Endoscopic Clips in Germany. On April 21, 2018, the Company and Boston Scientific Neuromodulation Corporation filed a patent infringement, theft of trade secrets and tortious interference with a contract action against Nevro in United States District Court for the District of Delaware (18-cv-664), and amended the complaint on July 18, 2018, alleging that nine U.S. patents owned by Boston Scientific Neuromodulation Corporation are infringed by Nevro’s Senza™ I and Senza™ II SCS Systems. On December 9, 2019, Nevro filed an answer and counterclaims, in which it alleged that our SCS systems infringe five Nevro patents. Nevro seeks lost profits, a reasonable royalty and a permanent injunction. The Court set a January 9, 2023 trial date for (1) the Company’s trade secret claims, (2) the remaining patent claims asserted by Company in this and the 16-cv-1163 action, and (3) the remaining patent counterclaims asserted by Nevro. On February 23, 2021, Nevro filed a complaint against the Company in the United States District Court for the District of Delaware (21-cv-258). The complaint alleges infringement of five Nevro patents by certain of the Company’s spinal cord stimulation systems. Nevro seeks lost profits, a reasonable royalty and a permanent injunction. Trial is set for October 23, 2023. Product Liability Litigation As of March 31, 2022, in the United States, approximately 54,500 product liability cases or claims related to transvaginal surgical mesh products designed to treat stress urinary incontinence and pelvic organ prolapse have been asserted against us. Outside the United States, approximately 2,700 cases or claims have been asserted, predominantly in Canada, the United Kingdom, Ireland and Australia. Plaintiffs generally seek monetary damages based on allegations of personal injury associated with the use of our transvaginal surgical mesh products, including design and manufacturing claims, failure to warn, breach of warranty, fraud, violations of state consumer protection laws and loss of consortium claims. As of March 31, 2022, we have entered into master settlement agreements in principle or are in the final stages of entering one with certain plaintiffs' counsel to resolve an aggregate of approximately 53,000 cases and claims in the United States, adjusted to reflect the Company's analysis of expected non-participation and duplicate claims. These master settlement agreements provide that the settlement and distribution of settlement funds to participating claimants are conditional upon, among other things, achieving minimum required claimant participation thresholds. Of the approximately 53,000 cases and claims, approximately 51,500 have met the conditions of the settlement and are final. In Canada, we have settled approximately 300 claims. In Australia, the Company has reached a settlement, subject to court approval, that resolves the approximately 2,300 claims asserted in the consolidated class action filed against the Company in the first quarter of 2021. All settlement agreements were entered into solely by way of compromise and without any admission or concession by us of any liability or wrongdoing. As of March 31, 2022, the company is facing fewer than 90 cases and claims in the United Kingdom and Canada. In April 2021 the Company's Board of Directors received a shareholder demand under section 220 of the Delaware General Corporation Law, for inspection of books and records. The Company has notified our insurer and retained counsel to respond to the demand. On April 16, 2019, the U.S. Food and Drug Administration (FDA) ordered that all manufacturers of surgical mesh products indicated for the transvaginal repair of pelvic organ prolapse stop selling and distributing their products in the United States immediately, stemming from the FDA’s 2016 reclassification of these devices to class III (high risk) devices, and as a result, the Company ceased global sales and distribution of surgical mesh products indicated for transvaginal pelvic organ prolapse. In February 2021, the Multi-District Litigation (MDL) established in February 2012 by the United States Federal Courts was closed after all pending cases were dismissed or remanded to courts of primary jurisdiction. We have established a product liability accrual for known and estimated future cases and claims asserted against us as well as with respect to the actions that have resulted in verdicts against us and the costs of defense thereof associated with our transvaginal surgical mesh products. We continue to engage in discussions with plaintiffs’ counsel regarding potential resolution of pending cases and claims. We continue to vigorously contest the cases and claims asserted against us that do not settle, and expect that more cases will go to trial through 2023. The final resolution of the cases and claims is uncertain and could have a material impact on our results of operations, financial condition and/or liquidity. Trials involving our transvaginal surgical mesh products have resulted in both favorable and unfavorable judgments for us. We do not believe that the judgment in any one trial is representative of potential outcomes of all cases or claims related to our transvaginal surgical mesh products. We are currently named a defendant in 93 filed product liability cases involving our Greenfield Vena Cava Filter, which we discontinued marketing and actively selling in the fourth quarter of 2018. The plaintiffs assert they are entitled to monetary damages related to alleged injuries, including perforation of the vena cava, post-implant deep vein thrombosis, fracture, and other injuries. Most of the filed cases are part of a consolidated matter in Middlesex County, Massachusetts. We have received notice of an additional 354 claims, none of which have been filed. As of March 31, 2022, we have entered into master settlement agreements in principle or are in the final stages of entering with certain plaintiffs' counsel to resolve approximately 200 cases. Matters Concluded Since December 31, 2021 On May 16, 2018, Arthur Rosenthal et al., filed a plenary summons against Boston Scientific Corporation and Boston Scientific Limited with the High Court of Ireland alleging that payments are due pursuant a transaction agreement regarding Labcoat Limited, a company Boston Scientific purchased in 2008 that provided coating technology for drug-eluting stents. Labcoat seeks monetary damages related to an earn-out provision. On March 25, 2022, the parties agreed to a confidential settlement which resolves the dispute. The settlement did not have a material impact on our financial position or results of operations.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE I – STOCKHOLDERS' EQUITY Preferred Stock We are authorized to issue 50 million shares of preferred stock in one or more series and to fix the powers, designations, preferences and relative participating, option or other rights thereof, including dividend rights, conversion rights, voting rights, redemption terms, liquidation preferences and the number of shares constituting any series, without any further vote or action by our stockholders. On May 27, 2020, we completed an offering of 10,062,500 shares of 5.50% Mandatory Convertible Preferred Stock (MCPS), Series A at a price to the public and liquidation preference of $100 per share. The net proceeds from the MCPS offering were approximately $975 million after deducting underwriting discounts and commissions and offering expenses. As of March 31, 2022, our MCPS had an aggregate liquidation preference of $1.006 billion. In the first quarter of 2022, the Audit Committee of our Board of Directors (the Committee), pursuant to authority delegated to such committee by our Board of Directors, declared, and we paid, a cash dividend of $1.375 per MCPS share to holders of our MCPS as of February 15, 2022, representing a dividend period from December 2021 through February 2022. On April 25, 2022 the Committee declared a cash dividend of $1.375 per MCPS share to holders of our MCPS as of May 15, 2022, representing a dividend period from March through May 2022. We have presented cumulative, unpaid dividends within Accrued expenses within our accompanying unaudited consolidated balance sheet as of March 31, 2022. Refer to Note L – Stockholders' Equity to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for information on the pertinent rights and privileges of our outstanding common stock.

Weighted Average Shares Outstan

Weighted Average Shares Outstanding	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Weighted Average Number Of Shares Outstanding [Text Block]	NOTE J – WEIGHTED AVERAGE SHARES OUTSTANDING Three Months Ended March 31, (in millions) 2022 2021 Weighted average shares outstanding — basic 1,427.8 1,418.7 Net effect of common stock equivalents 10.6 12.1 Weighted average shares outstanding - assuming dilution 1,438.4 1,430.8 The following securities were excluded from the calculation of weighted average shares outstanding - assuming dilution because their effect in the periods presented below would have been anti-dilutive: Three Months Ended March 31, (in millions) 2022 2021 Stock options outstanding (1) 3 6 MCPS (2) 24 24 (1) Represents stock options outstanding pursuant to our employee stock-based compensation plans with exercise prices that were greater than the average fair market value of our common stock for the related periods. (2) Represents common stock issuable upon the conversion of MCPS. Refer to Note I – Stockholders' Equity for additional information. We base Net income (loss) per common share - assuming dilution upon the weighted-average number of common shares and common stock equivalents outstanding during each year. Potential common stock equivalents are determined using the treasury stock method. We exclude stock options, stock awards and MCPS from the calculation if the effect would be anti-dilutive. The dilutive effect of MCPS is calculated using the if-converted method. The if-converted method assumes that these securities were converted to shares of common stock at the beginning of the reporting period to the extent that the effect is dilutive. For the first quarter of 2022 and 2021, the effect of assuming the conversion of MCPS into shares of common stock was anti-dilutive, and therefore excluded from the calculation of earnings per share (EPS). Accordingly, Net income was reduced by cumulative Preferred stock dividends , as presented within our accompanying unaudited consolidated statements of operations, for purposes of calculating Net income available to common stockholders . We issued approximately four million shares of our common stock in the first quarters of 2022 and 2021 following the exercise of stock options, vesting of restricted stock units or purchases under our employee stock purchase plan. We did not repurchase any shares of our common stock in the first quarter of 2022 or 2021. On December 14, 2020, our Board of Directors approved a stock repurchase program authorizing the repurchase of up to $1.000 billion of our common stock. As of March 31, 2022, we had the full amount remaining available under the authorization.
STOCKHOLDERS' EQUITY	NOTE I – STOCKHOLDERS' EQUITY Preferred Stock We are authorized to issue 50 million shares of preferred stock in one or more series and to fix the powers, designations, preferences and relative participating, option or other rights thereof, including dividend rights, conversion rights, voting rights, redemption terms, liquidation preferences and the number of shares constituting any series, without any further vote or action by our stockholders. On May 27, 2020, we completed an offering of 10,062,500 shares of 5.50% Mandatory Convertible Preferred Stock (MCPS), Series A at a price to the public and liquidation preference of $100 per share. The net proceeds from the MCPS offering were approximately $975 million after deducting underwriting discounts and commissions and offering expenses. As of March 31, 2022, our MCPS had an aggregate liquidation preference of $1.006 billion. In the first quarter of 2022, the Audit Committee of our Board of Directors (the Committee), pursuant to authority delegated to such committee by our Board of Directors, declared, and we paid, a cash dividend of $1.375 per MCPS share to holders of our MCPS as of February 15, 2022, representing a dividend period from December 2021 through February 2022. On April 25, 2022 the Committee declared a cash dividend of $1.375 per MCPS share to holders of our MCPS as of May 15, 2022, representing a dividend period from March through May 2022. We have presented cumulative, unpaid dividends within Accrued expenses within our accompanying unaudited consolidated balance sheet as of March 31, 2022. Refer to Note L – Stockholders' Equity to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K for information on the pertinent rights and privileges of our outstanding common stock.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE K – SEGMENT REPORTING In the first quarter of 2022, we reorganized our operational structure in order to strengthen our category leadership in the markets we serve and, in particular, benefit our Cardiology customers and patients. Following the reorganization, we have aggregated our core businesses into two reportable segments: MedSurg and Cardiovascular, each of which generates revenues from the sale of medical devices. There was no impact to the reporting units identified for purposes of our annual goodwill impairment testing. We measure and evaluate our reportable segments based on their respective net sales, operating income, excluding intersegment profits, and operating income as a percentage of net sales, all excluding the impact of foreign currency. We exclude from operating income of reportable segments certain corporate-related expenses and certain transactions or adjustments that our chief operating decision maker (CODM) considers to be non-operational, such as amounts related to amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits); and certain litigation-related net charges (credits) and European Union (EU) Medical Device Regulation (MDR) implementation costs. Although we exclude these amounts from operating income of reportable segments, they are included in reported Income (loss) before income taxes within our accompanying unaudited consolidated statements of operations and are included in the reconciliation below. Refer to Note L – Revenue for net sales by reportable segment presented in accordance with U.S. GAAP. A reconciliation of the totals reported for the reportable segments to the applicable line items within our accompanying unaudited consolidated statements of operations is as follows (in millions, except percentages). We have revised prior periods to conform to the current year presentation: Three Months Ended Net Sales 2022 2021 MedSurg $ 1,164 $ 1,048 Cardiovascular 1,902 1,661 Total net sales of reportable segments 3,066 2,709 Specialty Pharmaceuticals (1) — 13 Net sales 3,066 2,722 Impact of foreign currency fluctuations (40) 30 $ 3,026 $ 2,752 Income (loss) before income taxes MedSurg $ 371 $ 345 Cardiovascular 477 459 Total operating income of reportable segments 847 805 Specialty Pharmaceuticals (1) — 4 Unallocated amounts: Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments (66) (139) Intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), and certain litigation-related net charges (credits) and EU MDR implementation costs (117) (114) Amortization expense (198) (185) Operating income (loss) 466 370 Other expense, net (310) (45) Income (loss) before income taxes $ 156 $ 325 (1) On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Prior to the divestiture, we presented the Specialty Pharmaceuticals business as a standalone operating segment alongside our reportable segments. Three Months Ended March 31, Operating income margin of reportable segments 2022 2021 MedSurg 31.8 % 32.9 % Cardiovascular 25.1 % 27.7 %

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	NOTE L – REVENUE We generate revenue primarily from the sale of single-use medical devices and present revenue net of sales taxes within our accompanying unaudited consolidated statements of operations. In the first quarter of 2022, we reorganized our business structure into five operating segments and on March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Our consolidated net sales for the first quarter of 2021 include Specialty Pharmaceuticals up to the date of the closing of the transaction. The following tables disaggregate our revenue from contracts with customers by component and geographic region (in millions). We have revised prior periods to conform to current year presentation: Three Months Ended March 31, 2022 2021 Businesses U.S. Int'l Total U.S. Int'l Total Endoscopy $ 312 $ 220 $ 531 $ 280 $ 219 $ 499 Urology and Pelvic Health 286 127 413 257 104 361 Neuromodulation 161 49 209 151 46 198 MedSurg 758 395 1,153 689 369 1,058 Interventional Cardiology Therapies 186 358 544 195 331 526 Watchman 203 23 226 149 22 170 Cardiac Rhythm Management 325 195 519 276 193 469 Electrophysiology 50 68 118 30 53 83 Cardiology 764 644 1,407 650 599 1,248 Peripheral Interventions 256 210 465 238 195 433 Cardiovascular 1,019 853 1,873 888 793 1,681 Specialty Pharmaceuticals — — — 10 4 13 Total Net Sales $ 1,778 $ 1,248 $ 3,026 $ 1,586 $ 1,166 $ 2,752 Refer to Note K- Segment Reporting for information on our reportable segments. Three Months Ended March 31, Regions 2022 2021 U.S. $ 1,778 $ 1,577 Europe, Middle East and Africa 624 604 Asia-Pacific 517 473 Latin America and Canada 107 85 Medical Devices 3,026 2,739 U.S. — 10 International — 4 Specialty Pharmaceuticals — 13 Total Net Sales $ 3,026 $ 2,752 Emerging Markets (1) $ 390 $ 317 (1) We define Emerging Markets as the 20 countries that we believe have strong growth potential based on their economic conditions, healthcare sectors and our global capabilities. Periodically, we assess our list of Emerging Markets countries, which currently includes the following countries: Brazil, Chile, China, Colombia, Czech Republic, India, Indonesia, Malaysia, Mexico, Philippines, Poland, Russia, Saudi Arabia, Slovakia, South Africa, South Korea, Taiwan, Thailand, Turkey and Vietnam. Deferred Revenue Contract liabilities are classified within Other current liabilities and Other long-term liabilities within our accompanying unaudited consolidated balance sheets. Our deferred revenue balance was $491 million as of March 31, 2022 and $484 million as of December 31, 2021. Our contractual liabilities are primarily composed of deferred revenue related to the LATITUDE™ Patient Management System within our Cardiology business, for which revenue is recognized over the average service period based on device and patient longevity. Our contractual liabilities also include deferred revenue related to the LUX-Dx™ Insertable Cardiac Monitor (ICM) system, also within our Cardiology business, for which revenue is recognized over the average service period based on device longevity and usage. We recognized revenue of $42 million in the first quarter of 2022 and $36 million in the first quarter of 2021 that was included in the above contract liability balance as of December 31, 2021. We have elected not to disclose the transaction price allocated to unsatisfied performance obligations when the original expected contract duration is one year or less. In addition, we have not identified material unfulfilled performance obligations for which revenue is not currently deferred. Variable Consideration For additional information on variable consideration, refer to Note A – Significant Accounting Policies to our audited financial statements contained in Item 8 of our most recent Annual Report on Form 10-K.

Changes in Other Comprehensive

Changes in Other Comprehensive Income	3 Months Ended
	Mar. 31, 2022
Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]
Comprehensive Income (Loss) Note [Text Block]	NOTE M – CHANGES IN OTHER COMPREHENSIVE INCOME The following tables provide the reclassifications out of Other comprehensive income (loss), net of tax : (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2021 $ 93 $ 206 $ (36) $ 263 Other comprehensive income (loss) before reclassifications (63) 35 — (27) (Income) loss amounts reclassified from accumulated other comprehensive income (2) (12) — (14) Total other comprehensive income (loss) (64) 23 — (41) Balance as of March 31, 2022 $ 29 $ 229 $ (36) $ 222 (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2020 $ 218 $ 36 $ (47) $ 207 Other comprehensive income (loss) before reclassifications 48 133 1 182 (Income) loss amounts reclassified from accumulated other comprehensive income (131) (4) — (135) Total other comprehensive income (loss) (83) 129 1 47 Balance as of March 31, 2021 $ 134 $ 165 $ (45) $ 254 Refer to Note D – Hedging Activities and Fair Value Measurements for further detail on our net investment hedges recorded in Foreign currency translation adjustments and our cash flow hedges recorded in Net change in derivative financial instruments .

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements, Policy	NOTE N – NEW ACCOUNTING PRONOUNCEMENTS Periodically, new accounting pronouncements are issued by the FASB or other standard setting bodies. Recently issued standards typically do not require adoption until a future effective date. Prior to their effective date, we evaluate the pronouncements to determine the potential effects of adoption on our accompanying unaudited consolidated financial statements. During the first quarter of 2022, we implemented the following standards, which did not have a material impact on our financial position or results of operations. ASC Update No. 2021-05 In July 2021, the FASB issued ASC Update No. 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments . The amendments in Update No. 2021-05 revise lessor lease classification guidance and require accounting for certain leases with variable lease payments that do not depend on a reference index or rate as operating leases. Such classification is required if the lease would have been classified as a sales-type or direct financing lease in accordance with guidance in FASB ASC Topic 842 and the lessor would have otherwise recognized a day-one loss. Update No. 2021-05 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We adopted Update No. 2021-05 in the first quarter of 2022, prospectively. Standards to be Implemented In March 2022, the FASB issued ASC Update No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method. Update No. 2022-01 expands the current single-layer method to allow multiple hedged layers of a single closed portfolio under the method, among other updates to these methods. Update No. 2022-01 is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in Update No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , for the corresponding period. We do not expect the adoption to have a material impact on our financial position or results of operations. In March 2022, the FASB issued ASC Update No. 2022-02, Financial Instruments- Credit Losses (Topic 326: Troubled Debt Restructurings and Vintage Disclosures. Update No. 2022-02 makes amendments related to troubled debt restructurings for entities that have adopted Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as well as amendments related to vintage disclosures for entities with investments in financing receivables that have adopted Update No. 2016-13. Update No. 2022-02 is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Update No. 2022-02 should be applied prospectively, with the option of modified retrospective adoption for the recognition and measurement of troubled debt restructurings. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in Update No. 2016-13. We do not expect the adoption to have a material impact on our financial position or results of operations. No other new accounting pronouncements issued or effective in the period had or are expected to have a material impact on our accompanying unaudited consolidated financial statements.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Subsequent Events, Policy [Policy Text Block]	Subsequent Events We evaluate events occurring after the date of our accompanying unaudited consolidated balance sheet for potential recognition or disclosure in our financial statements. Those items requiring recognition in the financial statements have been recorded and disclosed accordingly. Those items requiring disclosure (non-recognized subsequent events) in the financial statements have been disclosed accordingly. Refer to Note H – Commitments and Contingencies and Note I – Stockholders' Equity for further details.

Fair Value Measurements Hedging

Fair Value Measurements Hedging Activities and Fair Value Measurements (Policies)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement, Policy [Policy Text Block]	FASB ASC Topic 815 requires all derivative and nonderivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet. We determine the fair value of our derivative and nonderivative instruments using the framework prescribed by FASB ASC Topic 820, Fair Value Measurements and Disclosures

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Policies)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Costs, Policy [Policy Text Block]	FASB ASC Topic 450, Contingencies , we accrue anticipated costs of settlement, damages, losses for product liability claims and, under certain conditions, costs of defense, based on historical experience or to the extent specific losses are probable and estimable. Otherwise, we expense these costs as incurred. If the estimate of a probable loss is a range and no amount within the range is more likely, we accrue the minimum amount of the range. We record certain legal and product liability charges, credits and costs of defense, which we consider to be unusual or infrequent and significant as Litigation-related net charges (credits) within our accompanying unaudited consolidated financial statements. All other legal and product liability charges, credits and costs are recorded within Selling, general and administrative expenses within our accompanying unaudited consolidated statements of operations. We continue to assess certain litigation and claims to determine the amounts, if any, that management believes will be paid as a result of such claims and litigation and, therefore, additional losses may be accrued and paid in the future, which could materially adversely impact our operating results, cash flows and/or our ability to comply with our financial covenant.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
ASC Update No. 2020-10 Codification Improvements	ASC Update No. 2021-05 In July 2021, the FASB issued ASC Update No. 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments . The amendments in Update No. 2021-05 revise lessor lease classification guidance and require accounting for certain leases with variable lease payments that do not depend on a reference index or rate as operating leases. Such classification is required if the lease would have been classified as a sales-type or direct financing lease in accordance with guidance in FASB ASC Topic 842 and the lessor would have otherwise recognized a day-one loss. Update No. 2021-05 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We adopted Update No. 2021-05 in the first quarter of 2022, prospectively.
ASC Update No. 2022-01, Derivatives and Hedging (Topic 815): FV Hedging -Portfolio Layer Method	In March 2022, the FASB issued ASC Update No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method. Update No. 2022-01 expands the current single-layer method to allow multiple hedged layers of a single closed portfolio under the method, among other updates to these methods. Update No. 2022-01 is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in Update No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , for the corresponding period. We do not expect the adoption to have a material impact on our financial position or results of operations.
ASC Update No. 2022-02, Financial Instruments, Credit Losses (Topic 326:Troubled Debt Restructurings and Vintage Disclosures)	In March 2022, the FASB issued ASC Update No. 2022-02, Financial Instruments- Credit Losses (Topic 326: Troubled Debt Restructurings and Vintage Disclosures. Update No. 2022-02 makes amendments related to troubled debt restructurings for entities that have adopted Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , as well as amendments related to vintage disclosures for entities with investments in financing receivables that have adopted Update No. 2016-13. Update No. 2022-02 is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Update No. 2022-02 should be applied prospectively, with the option of modified retrospective adoption for the recognition and measurement of troubled debt restructurings. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in Update No. 2016-13. We do not expect the adoption to have a material impact on our financial position or results of operations.

Acquisitions and Strategic In_2

Acquisitions and Strategic Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Business Acquisition [Line Items]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Changes in the fair value of our contingent consideration liability during the first quarter of 2022 were as follows: (in millions) Balance as of December 31, 2021 $ 486 Contingent consideration net expense (benefit) 12 Contingent consideration payments (41) Balance as of March 31, 2022 $ 456
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	The recurring Level 3 fair value measurements of our contingent consideration liability that we expect to be required to settle include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of March 31, 2022 Valuation Technique Unobservable Input Range Weighted Average (1) R&D, Regulatory and Commercialization-based Milestones $147 million Discounted Cash Flow Discount Rate 1% - 2% 1% Probability of Payment 80% - 100% 92% Projected Year of Payment 2022 - 2024 2023 Revenue-based Payments $308 million Discounted Cash Flow Discount Rate 4% - 14% 6% Probability of Payment 100% 100% Projected Year of Payment 2022 - 2024 2022 (1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected year of payment, the amount represents the median of the inputs and is not a weighted average.
Investment [Table Text Block]	The aggregate carrying amount of our strategic investments was comprised of the following: As of (in millions) March 31, 2022 December 31, 2021 Equity method investments $ 226 $ 259 Measurement alternative investments (1) 165 142 Publicly-held securities (2) 8 10 Notes receivable 7 — $ 406 $ 412 (1) Measurement alternative investments are privately-held equity securities without readily determinable fair values that are measured at cost less impairment, if any, adjusted to fair value for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer, recognized in Other, net within our accompanying unaudited consolidated statements of operations. (2) Publicly-held securities are measured at fair value with changes in fair value recognized in Other, net within our accompanying unaudited consolidated statements of operations.
Baylis Medical
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, Business Combinations . (in millions) Payment for acquisition, net of cash acquired $ 1,471 $ 1,471
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The preliminary purchase price allocation was comprised of the following components: (in millions) Goodwill $ 988 Amortizable intangible assets 657 Other assets acquired 113 Liabilities assumed (280) Net deferred tax liabilities (8) $ 1,471
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	We allocated a portion of the preliminary purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 622 11 11% Other intangible assets 36 11 11% $ 657
Preventice
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The final purchase price was comprised of the following components: (in millions) Payment for acquisition, net of cash acquired $ 706 Fair value of contingent consideration 221 Fair value of prior interest 269 $ 1,197
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in millions) Goodwill $ 926 Amortizable intangible assets 237 Other assets acquired 65 Liabilities assumed (32) $ 1,197
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	We allocated a portion of the purchase price to the specific intangible asset categories as follows: Amount Assigned (in millions) Weighted Average Amortization Period (in years) Risk-Adjusted Discount Amortizable intangible assets: Technology-related $ 215 9 10% Other intangible assets 22 8 10% $ 237

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets Goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for intangible assets subject to amortization and accumulated goodwill impairment charges are as follows: As of March 31, 2022 As of December 31, 2021 (in millions) Gross Carrying Amount Accumulated Amortization/ Write-offs Gross Carrying Amount Accumulated Amortization/ Write-offs Technology-related $ 12,559 $ (6,918) $ 11,957 $ (6,754) Patents 489 (393) 494 (398) Other intangible assets 1,946 (1,347) 1,900 (1,325) Amortizable intangible assets $ 14,994 $ (8,659) $ 14,351 $ (8,476) Goodwill $ 22,849 $ (9,900) $ 21,888 $ (9,900) IPR&D $ 126 $ 126 Technology-related 120 120 Indefinite-lived intangible assets $ 246 $ 246
Schedule of Goodwill [Table Text Block]	The following represents our goodwill balance by global reportable segment: (in millions) MedSurg Cardiovascular Total As of December 31, 2021 $ 4,246 $ 7,741 $ 11,988 Impact of foreign currency fluctuations and other changes in carrying value (2) (24) (27) Goodwill acquired — 988 988 As of March 31, 2022 $ 4,244 $ 8,705 $ 12,949

Hedging Activities and Fair V_2

Hedging Activities and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the contractual amounts of our hedging instruments outstanding: (in millions) FASB ASC Topic 815 Designation As of March 31, 2022 December 31, 2021 Forward currency contracts Cash flow hedge $ 3,897 $ 3,996 Forward currency contracts Net investment hedge 493 493 Foreign currency-denominated debt (1) Net investment hedge 997 997 Forward currency contracts Non-designated 4,022 3,892 Total Notional Outstanding $ 9,409 $ 9,378 (1) Foreign currency-denominated debt is the portion of the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge.
Derivative Instruments, Gain (Loss) [Table Text Block]	Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2022 Forward currency contracts Cash flow hedges $ 45 $ (10) $ 35 Cost of products sold $ 955 $ (30) $ 7 $ (23) Net investment hedges (2) 15 (3) 11 Interest expense 279 (2) — (2) Foreign currency-denominated debt Net investment hedges (3) 24 (5) 18 Other, net 31 — — — Interest rate derivative contracts Cash flow hedges — — — Interest expense 279 14 (3) 11 Effect of Hedging Relationships on Accumulated Other Comprehensive Income Amount Recognized in OCI on Hedges Unaudited Consolidated Statements of Operations (1) Amount Reclassified from AOCI into Earnings (in millions) Pre-Tax Gain (Loss) Tax Benefit (Expense) Gain (Loss) Net of Tax Location of Amount Reclassified and Total Amount of Line Item Pre-Tax (Gain) Loss Tax (Benefit) Expense (Gain) Loss Net of Tax Three Months Ended March 31, 2021 Forward currency contracts Cash flow hedges $ 171 $ (39) $ 133 Cost of products sold $ 894 $ (6) $ 1 $ (5) Net investment hedges (2) 52 (12) 40 Interest expense 82 (6) 1 (5) Foreign currency-denominated debt Net investment hedges (3) 48 (11) 37 Other, net (37) — — — Interest rate derivative contracts Cash flow hedges — — — Interest Expense 82 1 — 1 (1) In all periods presented in the table above, the pre-tax (gain) loss amounts reclassified from AOCI to earnings represent the effect of the hedging relationships on earnings. (2) For our outstanding forward currency contracts designated as net investment hedges, the net gain or loss reclassified from AOCI to earnings as a reduction of Interest expense represents the straight-line amortization of the excluded component as calculated at the date of designation. This initial value of the excluded component has been excluded from the assessment of effectiveness in accordance with FASB ASC Topic 815. In the current and prior period, we did not recognize any gains or losses on the components included in the assessment of hedge effectiveness in earnings. (3) For our outstanding euro-denominated debt principal designated as a net investment hedge, the change in fair value attributable to changes in the spot rate is recorded in the CTA component of OCI . No amounts were reclassified from AOCI to current period earnings.
Derivative Instruments, Gain (Loss) that may be Reclassified from AOCI to Earnings within Twelve Months [Table Text Block]	As of March 31, 2022, pre-tax net gains or losses for our derivative instruments designated, or previously designated, as cash flow and net investment hedges under FASB ASC Topic 815 that may be reclassified from AOCI to earnings within the next twelve months are presented below (in millions): Designated Hedging Instrument FASB ASC Topic 815 Designation Location on Unaudited Consolidated Statements of Operations Amount of Pre-Tax Gain (Loss) that may be Reclassified to Earnings Forward currency contracts Cash flow hedge Cost of products sold $ 159 Forward currency contracts Net investment hedge Interest expense 1 Interest rate derivative contracts Cash flow hedge Interest expense (3)
Derivatives Not Designated as Hedging Instruments [Table Text Block]	Net gains and losses on currency hedge contracts not designated as hedging instruments offset by net gains and losses from currency transaction exposures are presented below: Location on Unaudited Consolidated Statements of Operations Three Months Ended March 31, (in millions) 2022 2021 Net gain (loss) on currency hedge contracts Other, net $ (29) $ (1) Net gain (loss) on currency transaction exposures Other, net 21 (1) Net currency exchange gain (loss) $ (9) $ (2)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following are the balances of our derivative and nonderivative assets and liabilities: Location on Unaudited Consolidated Balance Sheets (1) As of (in millions) March 31, 2022 December 31, 2021 Derivative and Nonderivative Assets: Designated Hedging Instruments Forward currency contracts Other current assets $ 228 $ 183 Forward currency contracts Other long-term assets 155 169 384 352 Non-Designated Hedging Instruments Forward currency contracts Other current assets 38 42 Total Derivative and Nonderivative Assets $ 422 $ 394 Derivative and Nonderivative Liabilities: Designated Hedging Instruments Forward currency contracts Other current liabilities $ 31 $ 32 Forward currency contracts Other long-term liabilities 9 6 Foreign currency-denominated debt (2) Long-term debt 988 1,011 1,028 1,049 Non-Designated Hedging Instruments Forward currency contracts Other current liabilities 40 22 Total Derivative and Nonderivative Liabilities $ 1,067 $ 1,071 (1) We classify derivative and nonderivative assets and liabilities as current when the settlement date of the contract is one year or less. (2) Foreign currency-denominated debt is the portion of the €900 million debt principal associated with our 2027 Notes designated as a net investment hedge. A portion of this notional is subject to de-designation and re-designation based on changes in the underlying hedged item.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Assets and liabilities measured at fair value on a recurring basis consist of the following: As of March 31, 2022 December 31, 2021 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds and time deposits $ 25 $ — $ — $ 25 $ 1,632 $ — $ — $ 1,632 Publicly-held equity securities 8 — — 8 10 — — 10 Hedging instruments — 422 — 422 — 394 — 394 Licensing arrangements — — 215 215 — — 246 246 $ 33 $ 422 $ 215 $ 670 $ 1,642 $ 394 $ 246 $ 2,282 Liabilities Hedging instruments $ — $ 1,067 $ — $ 1,067 $ — $ 1,071 $ — $ 1,071 Contingent consideration liability — — 456 456 — — 486 486 Licensing arrangements — — 231 231 — — 281 281 $ — $ 1,067 $ 687 $ 1,754 $ — $ 1,071 $ 767 $ 1,838 The recurring Level 3 fair value measurements of our licensing arrangements recognized in our accompanying unaudited consolidated balance sheets as of March 31, 2022 include the following significant unobservable inputs: Licensing Arrangements Fair Value as of March 31, 2022 Valuation Technique Unobservable Input Range Weighted Average (1) Financial Asset $215 million Discounted Cash Flow Discount Rate 15% 15% Projected Year of Payment 2022 - 2025 2023 Financial Liability $231 million Discounted Cash Flow Discount Rate 12 % - 15% 13% Projected Year of Payment 2022 - 2026 2024 (1) Unobservable inputs relate to a single financial asset and liability. As such, unobservable inputs were not weighted by the relative fair value of the instruments. For projected year of payment, the amount represents the median of the inputs and is not a weighted average. Changes in the fair value of our licensing arrangements' financial asset were as follows: (in millions) Balance as of December 31, 2021 $ 246 Proceeds from royalty rights (39) Fair value adjustment (expense) benefit 8 Balance as of March 31, 2022 $ 215 Changes in the fair value of our licensing arrangements' financial liability were as follows: (in millions) Balance as of December 31, 2021 $ 281 Payments for royalty rights (58) Fair value adjustment expense (benefit) 8 Balance as of March 31, 2022 $ 231

Contractual Obligations and C_2

Contractual Obligations and Commitments (Tables)	3 Months Ended
	Mar. 31, 2022
Short-term Debt [Line Items]
Schedule of Long-term Debt Instruments [Table Text Block]	The debt maturity schedule for our long-term debt obligations is presented below: (in millions, except interest rates) Issuance Date Maturity Date As of Coupon Rate (1) March 31, December 31, October 2023 Senior Notes (4) August 2013 October 2023 — 244 4.125% March 2024 Senior Notes (4) February 2019 March 2024 504 850 3.450% March 2025 Senior Notes (3) March 2022 March 2025 1,108 — 0.750% May 2025 Senior Notes (4) May 2015 May 2025 — 523 3.850% June 2025 Senior Notes May 2020 June 2025 500 500 1.900% March 2026 Senior Notes (4) February 2019 March 2026 255 850 3.750% December 2027 Senior Notes (3) November 2019 December 2027 997 1,021 0.625% March 2028 Senior Notes (3) March 2022 March 2028 831 — 1.375% March 2028 Senior Notes (4) February 2018 March 2028 344 434 4.000% March 2029 Senior Notes (4) February 2019 March 2029 272 850 4.000% June 2030 Senior Notes May 2020 June 2030 1,200 1,200 2.650% March 2031 Senior Notes (3) March 2022 March 2031 831 — 1.625% March 2034 Senior Notes (3) March 2022 March 2034 554 — 1.875% November 2035 Senior Notes (2) November 2005 November 2035 350 350 6.750% March 2039 Senior Notes (4) February 2019 March 2039 450 750 4.550% January 2040 Senior Notes December 2009 January 2040 300 300 7.375% March 2049 Senior Notes (4) February 2019 March 2049 650 1,000 4.700% Unamortized Debt Issuance Discount and Deferred Financing Costs 2023 - 2049 (85) (76) Unamortized Gain on Fair Value Hedges 2022 — 3 Finance Lease Obligation Various 6 6 Long-term debt $ 9,067 $ 8,804 Note: The table above does not include unamortized amounts related to interest rate contracts designated as cash flow hedges. (1) Coupon rates are semi-annual, except for the euro-denominated senior notes, which bear an annual coupon. (2) Corporate credit rating improvements may result in a decrease in the adjusted interest rate on our November 2035 Notes to the extent that our lowest credit rating is above BBB- or Baa3. The interest rates on our November 2035 Notes will be permanently reinstated to the issuance rate if the lowest credit ratings assigned to these senior notes is either A- or A3 or higher. (3) These notes are euro-denominated and presented in U.S. dollars based on the exchange rate in effect as of March 31, 2022 and December 31, 2021, respectively. (4) Amounts repaid, or partially repaid as the case may be, in connection with the March 2022 tender offer and early redemption of certain of our outstanding senior notes are described below. In addition, we repaid $250 million of 3.375% May 2022 Senior Notes classified within Current Debt Obligations within our consolidated balance sheets as of December 31, 2021.
Summary Of Term Loan And Revolving Credit Facility Agreement Compliance With Debt Covenants [Table Text Block]	As of March 31, 2022, we were in compliance with the financial covenant required by the 2021 Revolving Credit Facility. Covenant Requirement Actual as of March 31, 2022 as of March 31, 2022 Maximum permitted leverage ratio (1) 3.75 times 2.72 times (1) Ratio of total debt to consolidated EBITDA, as defined by the credit agreements, as amended.
Transfer of Financial Assets Accounted for as Sales [Table Text Block]	Factoring Arrangements As of March 31, 2022 As of December 31, 2021 Amount Weighted Average Amount Weighted Average Euro denominated $ 140 1.3 % $ 141 2.1 % Yen denominated 190 0.5 % 223 0.6 % Renminbi denominated — 3.1 % — 3.2 %
Commercial Paper [Member]
Short-term Debt [Line Items]
Schedule of Short-term Debt [Table Text Block]	We had $223 million of commercial paper outstanding as of March 31, 2022 and none as of December 31, 2021. As of (in millions, except maturity and yield) March 31, 2022 December 31, 2021 Commercial paper outstanding (at par) $ 223 $ — Maximum borrowing capacity 2,750 2,750 Borrowing capacity available 2,527 2,750 Weighted average maturity 7 days 0 days Weighted average yield 0.76 % — %

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Balance Sheet Information [Abstract]
Trade accounts receivable, net [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Trade accounts receivable $ 1,979 $ 1,886 Allowance for credit losses (113) (108) $ 1,866 $ 1,778 Three Months Ended March 31, (in millions) 2022 2021 Beginning balance $ 108 $ 105 Credit loss expense 11 2 Write-offs (5) (6) Ending balance $ 113 $ 101
Inventory Disclosure [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Finished goods $ 1,095 $ 1,029 Work-in-process 142 128 Raw materials 499 452 $ 1,736 $ 1,610
Schedule of Other Current Assets [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Restricted cash and restricted cash equivalents $ 146 $ 188 Derivative assets 266 226 Licensing arrangements 114 132 Other 363 254 $ 889 $ 799
Property, plant and equipment, net [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Land $ 120 $ 109 Buildings and improvements 1,415 1,335 Equipment, furniture and fixtures 3,492 3,475 Capital in progress 539 605 5,565 5,525 Less: accumulated depreciation 3,300 3,273 $ 2,265 $ 2,252
Schedule of Other Assets [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Restricted cash equivalents $ 59 $ 55 Operating lease right-of-use assets 424 435 Derivative assets 155 169 Investments 406 412 Licensing arrangements 101 114 Other 230 225 $ 1,375 $ 1,410
Schedule of Accrued Liabilities [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Legal reserves $ 279 $ 264 Payroll and related liabilities 705 848 Rebates 329 350 Contingent consideration 393 289 Other 601 686 $ 2,306 $ 2,436
Other Current Liabilities [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Deferred revenue $ 212 $ 208 Licensing arrangements 122 138 Taxes payable 459 209 Other 241 228 $ 1,034 $ 783
Other long-term liabilities [Table Text Block]	As of (in millions) March 31, 2022 December 31, 2021 Accrued income taxes $ 451 $ 442 Legal reserves 230 284 Contingent consideration 63 197 Licensing arrangements 109 143 Operating lease liabilities 378 389 Deferred revenue 279 276 Other 490 489 $ 2,000 $ 2,220

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Schedule of Income Tax Rate Reconciliation [Line Items]
Schedule of Effective Income Tax Rate from Continuing Operations [Table Text Block]	Three Months Ended March 31, 2022 2021 Effective tax rate from continuing operations 29.1 % (4.9) %

Weighted Average Shares Outst_2

Weighted Average Shares Outstanding (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended March 31, (in millions) 2022 2021 Weighted average shares outstanding — basic 1,427.8 1,418.7 Net effect of common stock equivalents 10.6 12.1 Weighted average shares outstanding - assuming dilution 1,438.4 1,430.8
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the calculation of weighted average shares outstanding - assuming dilution because their effect in the periods presented below would have been anti-dilutive: Three Months Ended March 31, (in millions) 2022 2021 Stock options outstanding (1) 3 6 MCPS (2) 24 24 (1) Represents stock options outstanding pursuant to our employee stock-based compensation plans with exercise prices that were greater than the average fair market value of our common stock for the related periods. (2) Represents common stock issuable upon the conversion of MCPS. Refer to Note I – Stockholders' Equity for additional information.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	A reconciliation of the totals reported for the reportable segments to the applicable line items within our accompanying unaudited consolidated statements of operations is as follows (in millions, except percentages). We have revised prior periods to conform to the current year presentation: Three Months Ended Net Sales 2022 2021 MedSurg $ 1,164 $ 1,048 Cardiovascular 1,902 1,661 Total net sales of reportable segments 3,066 2,709 Specialty Pharmaceuticals (1) — 13 Net sales 3,066 2,722 Impact of foreign currency fluctuations (40) 30 $ 3,026 $ 2,752 Income (loss) before income taxes MedSurg $ 371 $ 345 Cardiovascular 477 459 Total operating income of reportable segments 847 805 Specialty Pharmaceuticals (1) — 4 Unallocated amounts: Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments (66) (139) Intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), and certain litigation-related net charges (credits) and EU MDR implementation costs (117) (114) Amortization expense (198) (185) Operating income (loss) 466 370 Other expense, net (310) (45) Income (loss) before income taxes $ 156 $ 325 (1) On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Prior to the divestiture, we presented the Specialty Pharmaceuticals business as a standalone operating segment alongside our reportable segments. Three Months Ended March 31, Operating income margin of reportable segments 2022 2021 MedSurg 31.8 % 32.9 % Cardiovascular 25.1 % 27.7 %

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Disaggregation of Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables disaggregate our revenue from contracts with customers by component and geographic region (in millions). We have revised prior periods to conform to current year presentation: Three Months Ended March 31, 2022 2021 Businesses U.S. Int'l Total U.S. Int'l Total Endoscopy $ 312 $ 220 $ 531 $ 280 $ 219 $ 499 Urology and Pelvic Health 286 127 413 257 104 361 Neuromodulation 161 49 209 151 46 198 MedSurg 758 395 1,153 689 369 1,058 Interventional Cardiology Therapies 186 358 544 195 331 526 Watchman 203 23 226 149 22 170 Cardiac Rhythm Management 325 195 519 276 193 469 Electrophysiology 50 68 118 30 53 83 Cardiology 764 644 1,407 650 599 1,248 Peripheral Interventions 256 210 465 238 195 433 Cardiovascular 1,019 853 1,873 888 793 1,681 Specialty Pharmaceuticals — — — 10 4 13 Total Net Sales $ 1,778 $ 1,248 $ 3,026 $ 1,586 $ 1,166 $ 2,752 Refer to Note K- Segment Reporting for information on our reportable segments. Three Months Ended March 31, Regions 2022 2021 U.S. $ 1,778 $ 1,577 Europe, Middle East and Africa 624 604 Asia-Pacific 517 473 Latin America and Canada 107 85 Medical Devices 3,026 2,739 U.S. — 10 International — 4 Specialty Pharmaceuticals — 13 Total Net Sales $ 3,026 $ 2,752 Emerging Markets (1) $ 390 $ 317 (1) We define Emerging Markets as the 20 countries that we believe have strong growth potential based on their economic conditions, healthcare sectors and our global capabilities. Periodically, we assess our list of Emerging Markets countries, which currently

Changes in Other Comprehensiv_2

Changes in Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2022
Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]
Changes in Other Comprehensive Income [Table Text Block]	The following tables provide the reclassifications out of Other comprehensive income (loss), net of tax : (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2021 $ 93 $ 206 $ (36) $ 263 Other comprehensive income (loss) before reclassifications (63) 35 — (27) (Income) loss amounts reclassified from accumulated other comprehensive income (2) (12) — (14) Total other comprehensive income (loss) (64) 23 — (41) Balance as of March 31, 2022 $ 29 $ 229 $ (36) $ 222 (in millions) Foreign Currency Translation Adjustments Net Change in Derivative Financial Instruments Net Change in Defined Benefit Pensions and Other Items Total Balance as of December 31, 2020 $ 218 $ 36 $ (47) $ 207 Other comprehensive income (loss) before reclassifications 48 133 1 182 (Income) loss amounts reclassified from accumulated other comprehensive income (131) (4) — (135) Total other comprehensive income (loss) (83) 129 1 47 Balance as of March 31, 2021 $ 134 $ 165 $ (45) $ 254

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2022reportablesegments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Acquisitions (Details)

Acquisitions (Details) $ in Millions	Feb. 14, 2022USD ($)	Mar. 01, 2021USD ($)units	Mar. 31, 2022USD ($)business	Mar. 31, 2021USD ($)business	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Number of Businesses Acquired | business			1	1
Number Of Businesses Divested | business				1
Payments to Acquire Businesses, Net of Cash Acquired			$ 1,471	$ 706
Business Combination, Contingent Consideration, Liability			456		$ 486
Goodwill			12,949		$ 11,988
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal			0	6
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Specialty Pharmaceuticals [Member]
Business Acquisition [Line Items]
Disposal Group, Including Discontinued Operation, Consideration		$ 800
Transfer of facilities | units		5
Divestiture, agreement, transfer of global employees | units		280
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal				$ 6
Baylis Medical
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,471		1,471
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination			1,471
Goodwill			988
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			657
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets			113
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			(280)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities			(8)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			657
Baylis Medical | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 622
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			11 years
Baylis Medical | Other Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 36
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			11 years
Baylis Medical | Weighted Average [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input			11.00%
Baylis Medical | Weighted Average [Member] | Other Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input			11.00%
Preventice
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination		$ 925
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Including Prior Interest		$ 300
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage		22.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		$ 195
Payments to Acquire Businesses, Net of Cash Acquired		706	$ 706
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 230
Business Combination, Contingent Consideration, Liability			221
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value			269
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination			1,197
Goodwill			926
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			237
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets			65
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			(32)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			237
Preventice | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 215
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			9 years
Preventice | Other Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 22
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			8 years
Preventice | Weighted Average [Member] | Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input			10.00%
Preventice | Weighted Average [Member] | Other Intangible Assets [Member]
Business Acquisition [Line Items]
Discount Rate, Fair Value Input			10.00%

Contingent Consideration (Detai

Contingent Consideration (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Business Combination, Contingent Consideration, Liability Beginning Balance	$ 486
Fair value of contingent consideration recorded in purchase accounting	0	$ 219
Contingent consideration net expense (benefit)	12	$ (6)
Payment of contingent consideration	(41)
Business Combination, Contingent Consideration, Liability Ending Balance	456
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Business Combination, Contingent Consideration, Liability	456
All Business Acquisitions
Business Combination, Contingent Consideration Arrangements [Abstract]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	964
Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Business Combination, Contingent Consideration, Liability Ending Balance	147
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Business Combination, Contingent Consideration, Liability	147
Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]
Business Combination, Contingent Consideration, Liability Ending Balance	308
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Business Combination, Contingent Consideration, Liability	$ 308
contingent consideration liability, probability of payment	100.00%
Minimum [Member] | Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	80.00%
Discount Rate, Fair Value Input	1.00%
Minimum [Member] | Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Discount Rate, Fair Value Input	4.00%
Maximum [Member] | Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	100.00%
Discount Rate, Fair Value Input	2.00%
Maximum [Member] | Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Discount Rate, Fair Value Input	14.00%
Weighted Average [Member] | Valuation Technique, Discounted Cash Flow [Member] | R&D, Regulatory and Commercialization-based Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	92.00%
Discount Rate, Fair Value Input	1.00%
Weighted Average [Member] | Valuation Technique, Discounted Cash Flow [Member] | revenue-based payments [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
contingent consideration liability, probability of payment	100.00%
Discount Rate, Fair Value Input	6.00%

Strategic Investments (Details)

Strategic Investments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 01, 2021
Schedule of Investments [Line Items]
Equity method investments	$ 226	$ 259
Measurement alternative investments(1)	165	142
Equity Securities, FV-NI	8	10
Notes receivable	7	0
Investments	406	$ 412
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	$ 237
Preventice
Schedule of Investments [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Including Prior Interest			$ 300
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			22.00%

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)reportablesegments	Dec. 31, 2021USD ($)
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	$ 14,994	$ 14,351
Finite-Lived Intangible Assets, Accumulated Amortization	(8,659)	(8,476)
Indefinite-lived Intangible Assets (Excluding Goodwill)	246	246
Goodwill [Roll Forward]
Goodwill Beginning Balance	11,988
Goodwill, Translation and Purchase Accounting Adjustments	(27)
Goodwill, Acquired During Period	988
Goodwill Ending Balance	$ 12,949
Number of reportable segments | reportablesegments	2
MedSurg [Member]
Goodwill [Roll Forward]
Goodwill Beginning Balance	$ 4,246
Goodwill, Translation and Purchase Accounting Adjustments	(2)
Goodwill, Acquired During Period	0
Goodwill Ending Balance	4,244
Cardiovascular [Member]
Goodwill [Roll Forward]
Goodwill Beginning Balance	7,741
Goodwill, Translation and Purchase Accounting Adjustments	(24)
Goodwill, Acquired During Period	988
Goodwill Ending Balance	8,705
Goodwill [Member]
Intangible Assets and Goodwill [Line Items]
Goodwill, Gross	22,849	21,888
Goodwill, Impaired, Accumulated Impairment Loss	(9,900)	(9,900)
In Process Research and Development [Member]
Intangible Assets and Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	126	126
Technology-Based Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	120	120
Technology-Based Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	12,559	11,957
Finite-Lived Intangible Assets, Accumulated Amortization	(6,918)	(6,754)
Patents [Member]
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	489	494
Finite-Lived Intangible Assets, Accumulated Amortization	(393)	(398)
Other Intangible Assets [Member]
Intangible Assets and Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	1,946	1,900
Finite-Lived Intangible Assets, Accumulated Amortization	$ (1,347)	$ (1,325)

Hedging Activities and Fair V_3

Hedging Activities and Fair Value Measurements (Details) € in Millions	3 Months Ended
	Mar. 31, 2022USD ($)unitsderivative_instrument	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)unitsderivative_instrument	Dec. 31, 2021USD ($)derivative_instrument	Dec. 31, 2020USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	$ 229,000,000	$ 165,000,000		$ 206,000,000	$ 36,000,000
Derivative, Notional Amount	9,409,000,000			9,378,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	35,000,000	133,000,000
Cost of Goods and Services Sold	955,000,000	894,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	12,000,000	4,000,000
Interest Expense	279,000,000	82,000,000
Other Operating Income (Expense), Net	31,000,000	(37,000,000)
Net currency exchange gain (loss)	(9,000,000)	(2,000,000)
Derivative Asset, Fair Value, Gross Asset	422,000,000			394,000,000
Derivative Liability, Fair Value, Gross Liability	1,067,000,000			1,071,000,000
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	8,000,000			10,000,000
Derivative Asset	155,000,000			169,000,000
Licensing arrangements, asset	101,000,000			114,000,000
Business Combination, Contingent Consideration, Liability	456,000,000			486,000,000
Licensing arrangements, liability	109,000,000			143,000,000
Cash	299,000,000			293,000,000
Non-cash impact of transferred royalty rights	(19,000,000)	(22,000,000)
Debt Instrument, Fair Value Disclosure	9,539,000,000			10,196,000,000
Accumulated Foreign Currency Adjustment Attributable to Parent
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	0	0
December 2027 Notes [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Long-term Debt	$ 997,000,000		€ 900	1,021,000,000
Debt Instrument, Interest Rate, Stated Percentage	0.625%		0.625%
Licensing arrangement assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	15.00%		15.00%
Proceeds from Royalties Received	$ (39,000,000)
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option	8,000,000
Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments for Royalties	(58,000,000)
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option	8,000,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Licensing arrangements, asset	215,000,000
Licensing arrangements, liability	231,000,000
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	25,000,000			1,632,000,000
Equity Securities, FV-NI	8,000,000			10,000,000
Derivative Asset	422,000,000			394,000,000
Licensing arrangements, asset	215,000,000			246,000,000
Assets, Fair Value Disclosure	670,000,000			2,282,000,000
Derivative Liability	1,067,000,000			1,071,000,000
Business Combination, Contingent Consideration, Liability	456,000,000			486,000,000
Licensing arrangements, liability	231,000,000			281,000,000
Financial and Nonfinancial Liabilities, Fair Value Disclosure	1,754,000,000			1,838,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	25,000,000			1,632,000,000
Equity Securities, FV-NI	8,000,000			10,000,000
Derivative Asset	0			0
Licensing arrangements, asset	0			0
Assets, Fair Value Disclosure	33,000,000			1,642,000,000
Derivative Liability	0			0
Business Combination, Contingent Consideration, Liability	0			0
Licensing arrangements, liability	0			0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0			0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	0			0
Equity Securities, FV-NI	0			0
Derivative Asset	422,000,000			394,000,000
Licensing arrangements, asset	0			0
Assets, Fair Value Disclosure	422,000,000			394,000,000
Derivative Liability	1,067,000,000			1,071,000,000
Business Combination, Contingent Consideration, Liability	0			0
Licensing arrangements, liability	0			0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	1,067,000,000			1,071,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds, at Carrying Value	0			0
Equity Securities, FV-NI	0			0
Derivative Asset	0			0
Licensing arrangements, asset	215,000,000			246,000,000
Assets, Fair Value Disclosure	215,000,000			246,000,000
Derivative Liability	0			0
Business Combination, Contingent Consideration, Liability	456,000,000			486,000,000
Licensing arrangements, liability	231,000,000			281,000,000
Financial and Nonfinancial Liabilities, Fair Value Disclosure	687,000,000			767,000,000
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	384,000,000			352,000,000
Derivative Instruments in Hedges, Liabilities, at Fair Value	1,028,000,000			1,049,000,000
Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 988,000,000			1,011,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Forward Currency Contracts, Time to Maturity | units	60		60
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	$ 228,000,000			183,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	155,000,000			169,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Liabilities, at Fair Value	31,000,000			32,000,000
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments in Hedges, Liabilities, at Fair Value	9,000,000			6,000,000
Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	(29,000,000)	(1,000,000)
Foreign Currency Transaction Gain (Loss), before Tax	21,000,000	(1,000,000)
Net currency exchange gain (loss)	(9,000,000)	(2,000,000)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	4,022,000,000			3,892,000,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	38,000,000			42,000,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	$ 40,000,000			$ 22,000,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Term of Contract (less than)	1 year
Derivative, Remaining Maturity	1 year
Weighted Average [Member] | Licensing arrangement assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	15.00%		15.00%
Weighted Average [Member] | Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	13.00%		13.00%
Minimum [Member] | Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	12.00%		12.00%
Maximum [Member] | Licensing arrangement liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate, Fair Value Input	15.00%		15.00%
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 159,000,000
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ (3,000,000)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Number of Interest Rate Derivatives Held | derivative_instrument	0		0	0
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	$ 3,897,000,000			$ 3,996,000,000
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	45,000,000	171,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(10,000,000)	(39,000,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	35,000,000	133,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(30,000,000)	(6,000,000)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	7,000,000	1,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(23,000,000)	(5,000,000)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	(10,000,000)			(24,000,000)
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	14,000,000	1,000,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	(3,000,000)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	11,000,000	1,000,000
Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Used in Net Investment Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	1,000,000
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	493,000,000			493,000,000
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	15,000,000	52,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax	(3,000,000)	(12,000,000)
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax	11,000,000	40,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, before Tax	(2,000,000)	(6,000,000)
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, Tax	0	1,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax	(2,000,000)	(5,000,000)
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	997,000,000			$ 997,000,000
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | foreign currency denominated in debt [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	24,000,000	48,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, Tax	(5,000,000)	(11,000,000)
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments, after Tax	18,000,000	37,000,000
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, before Tax	0	0
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, Tax	0	0
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), Adjustments, after Tax	$ 0	$ 0

Contractual Obligations and C_3

Contractual Obligations and Commitments (Details) € in Millions	May 10, 2021USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Mar. 31, 2022EUR (€)	Mar. 31, 2022	Mar. 31, 2022Rate
Debt Instrument [Line Items]
Total debt		$ 9,305,000,000		$ 9,065,000,000
Debt, Current		238,000,000		261,000,000
Long-term Debt and Capital Lease Obligations		9,067,000,000		8,804,000,000
Exclusion from EBITDA for Restructuring Charges		500,000,000
Restructuring charges remaining to be excluded from calculation of consolidated EBITDA		347,000,000
Litigation and Debt Exclusion from EBITDA		1,455,000,000
Legal payments remaining to be excluded from calculation of consolidated EBITDA		1,108,000,000
Letters of Credit Outstanding, Amount		132,000,000		134,000,000
Qualified Acquisition Consideration		1,000,000,000
Gain (Loss) on Extinguishment of Debt		(194,000,000)	$ 0
Licensing arrangement assets [Member]
Debt Instrument [Line Items]
Proceeds from Royalties Received		39,000,000
Licensing arrangement liabilities [Member]
Debt Instrument [Line Items]
Payments for Royalties		58,000,000
Commercial Paper [Member]
Debt Instrument [Line Items]
Maximum Commercial Paper Outstanding		2,750,000,000		2,750,000,000
Line of Credit Facility, Remaining Borrowing Capacity		2,527,000,000		$ 2,750,000,000
Short-term Debt, Weighted Average Interest Rate, at Point in Time				0.00%		0.76%
Commercial Paper		223,000,000		$ 0
May 2022 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						3.375%
Short-term Debt		250,000,000
Current Requirement [Member]
Debt Instrument [Line Items]
Maximum Leverage Ratio						3.75
Actual, Covenant [Member]
Debt Instrument [Line Items]
Maximum Leverage Ratio						2.72
Requirement, as of December 31, 2021 and through remaining term of facility
Debt Instrument [Line Items]
Maximum Leverage Ratio						3.75
Requirement, four succeeding quarters following qualified acquisition
Debt Instrument [Line Items]
Maximum Leverage Ratio						4.75
Requirement, fifth quarter following qualified acquisition [Member]
Debt Instrument [Line Items]
Maximum Leverage Ratio						4.50
Requirement, sixth quarter following qualified acquisition
Debt Instrument [Line Items]
Maximum Leverage Ratio						4.25
Requirement, seventh quarter following qualified acquisition
Debt Instrument [Line Items]
Maximum Leverage Ratio						4
Requirement, eighth quarter following qualified acquisition and through remaining term of facility
Debt Instrument [Line Items]
Maximum Leverage Ratio						3.75
the 2018 Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt				0
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,750,000,000
October 2023 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		0		244,000,000
Debt Instrument, Interest Rate, Stated Percentage						4.125%
March 2024 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		504,000,000		850,000,000
Debt Instrument, Interest Rate, Stated Percentage						3.45%
May 2025 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		0		523,000,000
Debt Instrument, Interest Rate, Stated Percentage						3.85%
June 2025 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		500,000,000		500,000,000
Debt Instrument, Interest Rate, Stated Percentage						1.90%
March 2026 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		255,000,000		850,000,000
Debt Instrument, Interest Rate, Stated Percentage						3.75%
December 2027 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		997,000,000		1,021,000,000	€ 900
Debt Instrument, Interest Rate, Stated Percentage						0.625%
March 2028 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		344,000,000		434,000,000
Debt Instrument, Interest Rate, Stated Percentage						4.00%
March 2029 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		272,000,000		850,000,000
Debt Instrument, Interest Rate, Stated Percentage						4.00%
June 2030 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		1,200,000,000		1,200,000,000
Debt Instrument, Interest Rate, Stated Percentage						2.65%
November 2035 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		350,000,000		350,000,000
Debt Instrument, Interest Rate, Stated Percentage						6.75%
March 2039 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		450,000,000		750,000,000
Debt Instrument, Interest Rate, Stated Percentage						4.55%
January 2040 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		300,000,000		300,000,000
Debt Instrument, Interest Rate, Stated Percentage						7.375%
March 2049 Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		650,000,000		1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage						4.70%
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		9,146,000,000		9,121,000,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net		(85,000,000)		(76,000,000)
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Long-term Debt		0		3,000,000
Finance Lease Obligation
Debt Instrument [Line Items]
Long-term Debt		6,000,000		6,000,000
March 2025 Notes
Debt Instrument [Line Items]
Long-term Debt		1,108,000,000		0	1,000
Debt Instrument, Interest Rate, Stated Percentage						0.75%	0.75%
March 2028 Senior Notes
Debt Instrument [Line Items]
Long-term Debt		831,000,000		0	750
Debt Instrument, Interest Rate, Stated Percentage						1.375%	1.375%
March 2031 Notes
Debt Instrument [Line Items]
Long-term Debt		831,000,000		0	750
Debt Instrument, Interest Rate, Stated Percentage						1.625%	1.625%
March 2034 Notes
Debt Instrument [Line Items]
Long-term Debt		554,000,000		0	500
Debt Instrument, Interest Rate, Stated Percentage						1.875%	1.875%
the Offering
Debt Instrument [Line Items]
Long-term Debt | €					€ 3,000
the Offering - early redemption of combined aggregate principal SN
Debt Instrument [Line Items]
Long-term Debt		3,275,000,000
2021 Revolving Credit Facility | Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt		0
Debt Instrument, Extension Option, Term	1 year
Euro Denominated Factoring Arrangements [Member]
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized		$ 140,000,000		$ 141,000,000
Average interest rate of de-recognized receivables		1.30%		2.10%
Yen Denominated Factoring Arrangements [Member]
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized		$ 190,000,000		$ 223,000,000
Average interest rate of de-recognized receivables		0.50%		0.60%
Renminbi Denominated Factoring Arrangements [Member]
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized		$ 0		$ 0
Average interest rate of de-recognized receivables		3.10%		3.20%

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Line Items]
Cash and Cash Equivalents	$ 325	$ 2,016	$ 1,925
Restricted Cash and Cash Equivalents in Other current assets	146	184	188
Restricted Cash Equivalents in Other long-term assets	59	53	55
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	529	2,253	2,168	$ 1,995
Trade accounts receivable, net
Accounts receivable	1,979		1,886
Less: allowance for doubtful accounts	(113)		(108)
Trade accounts receivable, net	1,866		1,778
Allowance for doubtful accounts
Beginning balance	108	105
Charges to expenses	11	2
Utilization of allowances	(5)	(6)
Ending balance	113	101
Inventories
Inventory, Finished Goods, Net of Reserves	1,095		1,029
Inventory, Work in Process, Net of Reserves	142		128
Inventory, Raw Materials, Net of Reserves	499		452
Inventories	1,736		1,610
Other Current Assets [Abstract]
Restricted Cash and Cash Equivalents in Other current assets	146	184	188
Derivative Asset, Current	266		226
Licensing arrangements	114		132
Other Assets, Miscellaneous, Current	363		254
Other Assets, Current	889		799
Property, plant and equipment, net
Land	120		109
Buildings and improvements	1,415		1,335
Equipment, furniture and fixtures	3,492		3,475
Capital in progress	539		605
Property, plant and equipment	5,565		5,525
Less: accumulated depreciation	3,300		3,273
Property, plant and equipment, net	2,265		2,252
Supplemental Balance Sheet Information
Depreciation expense	76	83
Other Assets, Noncurrent [Abstract]
Restricted cash equivalents included in Other long-term assets	59	$ 53	55
Operating Lease, Right-of-Use Asset	424		435
Derivative Asset	155		169
Investments	406		412
Licensing arrangements, asset	101		114
Other, Other Long-term Assets	230		225
Other Assets, Noncurrent	1,375		1,410
Accrued expenses
Legal reserves, current	279		264
Payroll and related liabilities	705		848
Accrued Rebates, Current	329		350
Business Combination, Contingent Consideration, Liability, Current	393		289
Other	601		686
Accrued Liabilities, Current	2,306		2,436
Other Liabilities, Current [Abstract]
Deferred Revenue, Current	212		208
Accrued Royalties, Current	122		138
Taxes Payable, Current	459		209
Other Sundry Liabilities, Current	241		228
Other Liabilities, Current	1,034		783
Other long-term liabilities
Accrued income taxes	451		442
Estimated Litigation Liability, Noncurrent	230		284
Business Combination, Contingent Consideration, Liability, Noncurrent	63		197
Licensing arrangements, liability	109		143
Operating Lease, Liability, Noncurrent	378		389
Deferred Revenue	279		276
Other Accrued Liabilities, Noncurrent	490		489
Other long-term liabilities	$ 2,000		$ 2,220

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective tax rate from continuing operations	29.10%	(4.90%)
Unrecognized Tax Benefits	$ 262		$ 255
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	183		$ 177
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 54

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)claimsunits	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Loss Contingencies [Line Items]
Accrual for legal matters that are probable and estimable | $	$ 509		$ 548
Restricted Cash and Cash Equivalents in Other current assets | $	146	$ 184	$ 188
Litigation-related net charges (credits) | $	$ 0	$ 4
Product liability cases or claims related to mesh product	54,500
Product liability cases or claims related to mesh product - Canada	2,700
Product liability cases or claims related to mesh product - United Kingdom	90
Certified class actions in Australia, Mesh | units	2,300
Product liability cases related to Greenfield Vena Cava Filter	93
Product liability claims, not filed, related to Greenfield Vena Cava Filter	354
Cases in final stages of resolution, related to Greenfield Vena Cava Filter | units	200
Canada, settled claims	300
Settled Litigation [Member]
Loss Contingencies [Line Items]
Product liability cases or claims related to mesh product	53,000
Total Product liability cases and claims settled related to Mesh product	51,500

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 25, 2022	May 27, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Class of Stock [Line Items]
Preferred Stock, Shares Authorized			50,000,000		50,000,000
Preferred Stock, Shares Issued			10,062,500		10,062,500
Payments of Dividends			$ 14	$ 14
Common Stock, Shares Authorized			2,000,000,000		2,000,000,000
Common Stock, Par or Stated Value Per Share			$ 0.01		$ 0.01
5.50% MCPS, Series A [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Issued		10,062,500
Net proceeds from issuance of preferred stock in connection with public offering		$ 975
Preferred Stock, Dividend Rate, Percentage			5.50%
Preferred Stock, Liquidation Preference Per Share		$ 100
Preferred Stock, Liquidation Preference, Value			$ 1,006
Preferred Stock, Dividends, Per Share, Cash Paid			$ 1.375
5.50% MCPS, Series A [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared	$ 1.375

Weighted Average Shares Outst_3

Weighted Average Shares Outstanding (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 14, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	1,427,800	1,418,700
Weighted Average Number Diluted Shares Outstanding Adjustment	10,600	12,100
Weighted Average Number of Shares Outstanding, Diluted	1,438,400	1,430,800
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	4,000,000,000	4,000,000,000
Stock Repurchase Program, Authorized Amount			$ 1,000
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,000	6,000
5.50% MCPS, Series A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	24,000	24,000

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)reportablesegmentsbusiness	Mar. 31, 2021USD ($)
Segment Reporting [Abstract]
Number Of Businesses | business	5
Number of reportable segments | reportablesegments	2
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Amortization expense	$ (198)	$ (185)
Operating income (loss)	466	370
Other expense, net	(310)	(45)
Income (loss) before income taxes	156	325
Revenues from contracts with customers, disaggregated - performance measurement	3,066	2,722
Impact of Foreign Currency Fluctuations on Net Sales	(40)	30
Specialty Pharmaceuticals [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Revenues from contracts with customers, disaggregated - performance measurement	0	13
MedSurg [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Allocated to Reportable Segments	371	345
Revenues from contracts with customers, disaggregated - performance measurement	$ 1,164	$ 1,048
Segment operating income as percentage of net sales	31.80%	32.90%
Cardiovascular [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Allocated to Reportable Segments	$ 477	$ 459
Revenues from contracts with customers, disaggregated - performance measurement	$ 1,902	$ 1,661
Segment operating income as percentage of net sales	25.10%	27.70%
BSX Reportable Segments [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Revenues from contracts with customers, disaggregated - performance measurement	$ 3,066	$ 2,709
Total allocated to reportable segments [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating income (loss)	847	805
Specialty Pharmaceuticals [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating income (loss)	0	4
Corporate expenses and currency exchange [Member]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Unallocated to Segment	(66)	(139)
Intangible asset impairment charges, acquisition/divestiture-related net (charges) credits, restructuring- and restructuring-related net (charges) credits, EU MDR implementation costs and litigation-related net (charges) credits
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating Income Unallocated to Segment	$ (117)	$ (114)

Revenue (Details)

Revenue (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)units	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 3,026	$ 2,752
Emerging Markets total countries | units	20
Net sales	$ 3,026	2,752
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability	491		$ 484
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	42	36
United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,778	1,586
Net sales	1,778	1,586
International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,248	1,166
Net sales	1,248	1,166
Emerging Markets [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	390	317
Net sales	390	317
Global Endoscopy (Endo) Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	531	499
Net sales	531	499
Global Endoscopy (Endo) Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	312	280
Net sales	312	280
Global Endoscopy (Endo) Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	220	219
Net sales	220	219
Global Urology (Uro) Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	413	361
Net sales	413	361
Global Urology (Uro) Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	286	257
Net sales	286	257
Global Urology (Uro) Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	127	104
Net sales	127	104
Global CRM Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	519	469
Net sales	519	469
Global CRM Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	325	276
Net sales	325	276
Global CRM Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	195	193
Net sales	195	193
Global Electrophysiology (EP) Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	118	83
Net sales	118	83
Global Electrophysiology (EP) Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50	30
Net sales	50	30
Global Electrophysiology (EP) Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	68	53
Net sales	68	53
Global Neuromodulation (NM) Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	209	198
Net sales	209	198
Global Neuromodulation (NM) Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	161	151
Net sales	161	151
Global Neuromodulation (NM) Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	49	46
Net sales	49	46
Global Interventional Cardiology (IC) Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,407	1,248
Net sales	1,407	1,248
Global Interventional Cardiology (IC) Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	764	650
Net sales	764	650
Global Interventional Cardiology (IC) Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	644	599
Net sales	644	599
Global Peripheral Interventions (PI) Reporting Unit [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	465	433
Net sales	465	433
Global Peripheral Interventions (PI) Reporting Unit [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	256	238
Net sales	256	238
Global Peripheral Interventions (PI) Reporting Unit [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	210	195
Net sales	210	195
Specialty Pharmaceuticals [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	13
Net sales	0	13
Specialty Pharmaceuticals [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	10
Net sales	0	10
Specialty Pharmaceuticals [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	4
Net sales	0	4
Watchman
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	226	170
Net sales	226	170
Watchman | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	203	149
Net sales	203	149
Watchman | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	23	22
Net sales	23	22
Interventional Cardiology Therapies
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	544	526
Net sales	544	526
Interventional Cardiology Therapies | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	186	195
Net sales	186	195
Interventional Cardiology Therapies | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	358	331
Net sales	358	331
BSX Reportable Segments [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,026	2,739
Net sales	3,026	2,739
BSX Reportable Segments [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,778	1,577
Net sales	1,778	1,577
BSX Reportable Segments [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	624	604
Net sales	624	604
BSX Reportable Segments [Member] | APAC [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	517	473
Net sales	517	473
BSX Reportable Segments [Member] | Latin America and Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	107	85
Net sales	107	85
MedSurg [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,153	1,058
Net sales	1,153	1,058
MedSurg [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	758	689
Net sales	758	689
MedSurg [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	395	369
Net sales	395	369
Cardiovascular [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,873	1,681
Net sales	1,873	1,681
Cardiovascular [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,019	888
Net sales	1,019	888
Cardiovascular [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	853	793
Net sales	$ 853	$ 793

Changes in Other Comprehensiv_3

Changes in Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	$ (27)	$ 182
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(14)	(135)
Total other comprehensive income (loss)	(41)	47
Accumulated Other Comprehensive Income (Loss), Net of Tax	222	254	$ 263	$ 207
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(63)	48
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	(2)	(131)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(64)	(83)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	29	134	93	218
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	35	133
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(12)	(4)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	23	129
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	229	165	206	36
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax	0	1
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	0	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	0	1
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	$ (36)	$ (45)	$ (36)	$ (47)